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Last seen on: The Washington Post Crossword – May 18 2019
Random information on the term “TIP”:
A tipster is someone who regularly provides information (tip) on the likely outcomes of sporting events.
In the past tips were bartered for and traded but nowadays, thanks largely to the Internet and premium rate telephone lines, they are usually exchanged for money, and many tipsters operate websites. Some of them are free and some require subscription.
A tip in gambling is a bet suggested by a third party who is perceived to be more knowledgeable about that subject than the bookmaker who sets the initial odds. (A bookmaker will vary his odds according to the amount of money wagered, but has to start with a blank book and himself set an initial price to encourage betting.) Thus a tip is not even regarded by the tipster as a certainty but that the bookmaker has set a price too low (or too high) from what the true risk is: it is a form of financial derivative, since the tipster himself risks none of his own money but sells his expert knowledge to others to try to “beat the bookie”.