1. In casino gambling, the posted table limits

Protect the casinos bottom line from players with big bankrolls
Ensure that the casinos make an acceptable profit
Protect the players from over betting their bankrolls
Both 1. and 2.

2. If the casino edge on a particular bet was 2.5% and a player's average wager was $5, then

The average cost of play would be 12.5 cents per round
The basic odds would be 38 in 40
The games return rate would be 98%
None of the above

3. In casino gambling the notion of "action" mainly has to do with

The number of different wagering options a game allows
The amount of money being bet per round and the long run return rate
How often wagers are being made and how many of them turn out to be
     winners
The overall percent edge riding for or against the player

4. If the odds of winning a bet are 1 in 5, what is the probability of getting three back-to-back losses in a series of three bets?

~ 95%
~ 64%
~ 51%
~ 80%

5. In the game of double zero roulette with its basic odds of 1 in 38, what are the odds of getting two back-to-back winners on the same number?

1 in every 76 two-round series
1 in 1444 or 1443 to 1 against
Equal probable
Can't be calculated from the information given.

6. In a game where the basic odds are fixed at 1 in 3 against a wager being won and there have been no winners for the last 10 rounds.  What are the odds of the next round being a winner?

30 to 3 in favor
Cannot be calculated because multiple rounds are involved.
3 to 1 in favor
Are still 1 in 3 against

7. The strategy of increasing bet size with each successive loss to cover all money lost to that point

Is called a negative betting progression
Is an example of the gamblers fallacy at work
Is called a Martingale
Both 1 and 3

8. In games like craps and roulette, the notion that the likelihood of a particular number coming up becomes greater if the number hasn't 
shown for a long time, is referred to as:

Playing the odds
The gamblers fallacy
The principle of diminishing probabilities
Both 1 and 3

9. Games with variable odds

Are typically the easiest to master
Always have payoff odds that change with each round of play
Are the ones most likely to allow a consistent winning edge
Never allow useful calculation of the likelihood of winning or loosing.

10. The game of sixteen squares

Is an unbeatable imaginary game
Would be beatable if it were a real world game
Is unbeatable because of table limits
Is offered by some internet casinos on a limited basis

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