A sucker bet
is a term used to describe a gambling wager in which your expected return is significantly lower than your wager(s) including:
- parlays: One bet ticket written with at least two wagers (all must win for the ticket to cash).
- teaser: A sucker wager that allows bettors to add and subtract points from posted odds.
- exotic: Any wager other than a straight bet or parlay (also referred to as a proposition or prop).
For example, the chances of correctly guessing the order of the final 3 cards of Faro is usually 1 in 6, yet the bet only pays 4:1 or 5:1. Taking insurance in Blackjack is also often considered a sucker bet.
Sucker bets are often created to lure inexperienced players into betting against large odds, blinded by the offer of "fast money" — hence the name "sucker bet".