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Las vegas sucker bets
A sucker bet is a gambling wager in which the expected return is significantly lower than the wager(s).
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Variants include:
For example, the chances of correctly guessing the order of the final 3 cards of Faro is usually 1 in 6, yet the bet only pays 4:1 or 5:1. Taking insurance in Blackjack is also often considered a sucker bet.
The name originates in that sucker bets are often created to lure inexperienced players into betting against large odds, blinded by the offer of "fast money".
Sucker bet card trick bet tutorial
References
Sucker bet Wikipedia(Text) CC BY-SA