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".
The Lure of a Seven-Figure Payoff Attracts Bettors to the Rainbow Six (Posted 2013-02-04 23:48:15) ; It's a Sucker Bet, but with $1.4 Million on the Line, Gulfstream's Exotic Wager Lures Players
Feb 04, 2013; HALLANDALE BEACH, FLA. -- Big jackpots in the Pick Six stir more excitement than almost anything else in American racing. The...