bumblingfool
bumblingfool
Joined: Apr 1, 2014
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September 16th, 2014 at 7:20:48 PM permalink
is payout the gross win and pays the net win or vice versa or something else?

e.g.
betting on roulette red has a payout of 2 and pays 1?
rdw4potus
rdw4potus
Joined: Mar 11, 2010
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September 16th, 2014 at 7:40:06 PM permalink
Are you seeing those terms somewhere in particular?
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
Romes
Romes
Joined: Jul 22, 2014
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September 17th, 2014 at 1:12:22 PM permalink
Quote: bumblingfool

is payout the gross win and pays the net win or vice versa or something else?

e.g.
betting on roulette red has a payout of 2 and pays 1?


For what you're referring too: Payout = total amount back, Pays = Odds of the bet.

In your example the "pays" refers to the odds... Red/Black is a 1-1 bet, so it "pays" 1 time on your money.

Another example would be betting a third of the board in roulette. It PAYS 2-1. So if you bet $10 and hit, it pays you 2-1 (two times on your money) on your 10, and your total PAYOUT (including your initial wager) would be $30.

Payouts I would generally think are associated with jackpots, etc, because that's the total lump sum win. Pays generally regards to the odds you're getting on the bet. I hope I'm not mixing things up, just attempting to answer the specific question you appear to be asking.
Playing it correctly means you've already won.
bumblingfool
bumblingfool
Joined: Apr 1, 2014
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September 24th, 2014 at 6:59:48 PM permalink
Quote: Romes

For what you're referring too: Payout = total amount back, Pays = Odds of the bet.

In your example the "pays" refers to the odds... Red/Black is a 1-1 bet, so it "pays" 1 time on your money.

Another example would be betting a third of the board in roulette. It PAYS 2-1. So if you bet $10 and hit, it pays you 2-1 (two times on your money) on your 10, and your total PAYOUT (including your initial wager) would be $30.

Payouts I would generally think are associated with jackpots, etc, because that's the total lump sum win. Pays generally regards to the odds you're getting on the bet. I hope I'm not mixing things up, just attempting to answer the specific question you appear to be asking.



Thanks.
Is this standard across the industry?
payout = gross
pays = net
bumblingfool
bumblingfool
Joined: Apr 1, 2014
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  • Posts: 16
September 24th, 2014 at 7:14:33 PM permalink
Quote: rdw4potus

Are you seeing those terms somewhere in particular?



Seems there is no convention. People use pays, payout, payoff and switch the meaning of them.

Pays=net

Pays=gross

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