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The term "Dutch Book" originates from the concept of a betting system that guarantees a profit regardless of the outcome. "Dutch Book Arbitrage" refers to a series of bets that ensures a profit by exploiting inconsistent odds offered by different bookmakers. The term is named after the Dutch mathematician L.J.F. Nieuwenhuis, who first described the concept in the field of probability theory.

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The term "Dutch Book" originates from the concept of a betting system that guarantees a profit regardless of the outcome. "Dutch Book Arbitrage" refers to a series of bets that ensures a profit by exploiting inconsistent odds offered by different bookmakers. The term is named after the Dutch mathematician L.J.F. Nieuwenhuis, who first described the concept in the field of probability theory.

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