Double or nothing

Double or nothing[1] (UK often double or quits) is a gamble to decide whether a loss or debt should be doubled. The result of a "double or nothing" bet is either the cancellation of a debt or the doubling of a debt. [2]

For other uses, see Double or Nothing (disambiguation).

It refers to the potential outcome in a betting situation where the winner risks what has been won for a chance to double their winnings. The loser of the first game decides on a double or nothing. If the loser then loses the second bet, they owe the winner of the initial bet (and subsequent winner of the second bet) double. For example, if person A owes person B a bottle of Coke from a bet and then places a "double or nothing" bet with the same opponent and loses, they will owe 2 Cokes. In the case of more than two people, should the initial winner lose they owe the original losers nothing, whilst the rest of losers owe double the original stake to the new winner. "Double or nothing" may refer to an initial bet being totally canceled out by a larger wager on a second bet with a chance to win first amount agreed on by both betters. Example: Player A bets 20 dollars and loses to player B. Player A calls "double or nothing". If player B accepts, the new bet is in the amount of 40 dollars (20 × 2). If player A wins, the winnings exactly negate the result of the initial bet; If player B wins, the winnings of player B (and the loss to player A) are effectively doubled relative to the initial bet.

Poker

In poker, a double or nothing tournament is a sit'n'go tournament where half of the surviving players get double the buy-in and the eliminated half does not receive any prizes. Double or nothing tournaments are mostly played by ten players (five players win) or six players (three-win), although multi-table versions, such as for 20 players, exist. The rake in these tournaments is usually smaller than in standard sit'n'go tournaments. Some poker rooms also offer triple or nothing tournaments, where one-third of the playing field gets paid.

Wagers

In wagers, the same rules/applications apply, but in certain circumstances, they do not such as eSports wagers. For example in the eSports case of Fate Bot and Fate Frosty, Fate Bot was victorious.

Blackjack

The term that is used in blackjack is "doubling down". This blackjack move allows you to double your bet in the middle of a hand in exchange for one extra card. It’s a risky gamble, as it usually ends your betting: if you receive a particularly low second card you can’t hit again. Timid players avoiding the double bet, and more adventurous players often use it.[3]

See also

References
  1. Merriam-Webster Dictionary
  2. Webster's third new international dictionary of the English language, unabridged. Gove, Philip Babcock, 1902-1972., Merriam-Webster, Inc. Springfield, Mass.: Merriam-Webster. 1993. ISBN 9780877792017. OCLC 27936328.CS1 maint: others (link)
  3. "Basic Blackjack Rules".


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