Overlay
A good bet where the player has an edge over the casino.
In the context of gambling, particularly in poker and sports betting, an "overlay" refers to a situation where the odds or payouts offered by a bookmaker or casino do not accurately reflect the true probability of an event occurring. This often occurs when the implied odds of a bet are better than the actual odds based on the expected outcome.
For example, if a player believes that a particular bet has a higher chance of winning than what the odds suggest, they may consider it an "overlay." This creates an opportunity for value betting, as the bettor can potentially gain a higher return than what is warranted by the actual risk involved. In poker, an overlay can refer to a situation in a tournament where the prize pool exceeds the total buy-ins, giving players a better return on their investment.
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