Do people prefer getting odds to laying odds? That is, when people gamble, do they prefer to risk a little for the chance to win a lot, rather than vice versa? I know from personal experience that you can get a little rush from putting quarters in a slot machine, inspired by the possibility that one lucky quarter might make you hundreds or even thousands of dollars richer. Even knowing that you are losing a few cents on average for every quarter you bet doesn't keep that feeling of excitement and anticipation away. The large potential payoff, even though it is smaller than what the true odds require for a fair game, is enough of a carrot on a stick to lure you along. But then it seems that other gamblers prefer to lay odds, whether or not they know that's what they are doing. The "system players" at roulette or other table games usually play in such a way that makes it likely that they will come out ahead a small amount. But they are risking the possibility that they run into the maximum bet or run out of money before they complete whatever sequence they are going for. This may happen less frequently, but when it does it will cost them more than what they usually win. So they are effectively laying odds, or betting a lot to win a little. Does this mean there is no general rule about which kind of gambling people prefer? Or can you break it down by situation and predict whether people will prefer taking odds to laying them?