In the Old Testament, if the head of a household converted to Judaism, all the males in the house, even the infants, were circumcised. Some paedobaptists argue this pattern continues into the New Testament. Reference is made, for example, to baptising a person and their whole householdthe households of Lydia, Crispus, and Stephanas are mentioned by name Acts 16:1415, 18:8; 1 Cor 1:16.
Paedobaptists challenge credobaptists on this point: Why would a whole household be baptised just because the head of the house had faith? Shouldnt they baptise each member of the family as they come to individual faith? Household baptism implies that the rules for membership in Abraham's covenant have continued into the New Testament, the main difference is the sign of the covenant.
Credobaptists counter with verses such as John 4:53, Acts 16:34 and Acts 18:8 in which entire households are said to have "believed". As such, the paedobaptist assumption is that household baptisms mentioned in the Bible involved infants, presumably incapable of personal belief.
Brunson, Hal. 2007 The Rickety Bridge and the Broken Mirror: Two Parables of Paedobaptism and One Parable of the Death of Jesus Christ. ISBN 0-595-43816-4
Infant Baptism in the Global Anabaptist Mennonite Encyclopedia Online
A Scriptural Critique of Infant Baptism by Pastor John MacArthur
The Assemblies of God on Baptism
In Islam, all souls are believed to have been created in adult form (before earthly life) at the same time God created the father of Mankind, Adam. The Quran recounts the story of when the descendants of Adam were brought forth before God to testify that God alone is the Lord of creation and therefore only He is worthy of worship so that on the Day of Judgement, people could not make the excuse that they only worshipped others because they were following the ways of their ancestors. God then removed the memory of this event from the minds of Mankind (leaving only an innate awareness that He exists and is One, known as the Fitra) and He decreed at which point each and every human would be born into the physical world.
Consider a hypothetical event which has eight possible outcomes, in a country using a decimal currency such as dollars. Each outcome has a certain amount of money wagered:
Thus, the total pool of money on the event is $1028.00. Following the start of the event, no more wagers are accepted. The event is decided and the winning outcome is determined to be Outcome 4 with $110.00 wagered. The payout is now calculated. First the commission or take for the wagering company is deducted from the pool; for example with a commission rate of 14.25% the calculation is: $1028 0.1425 = $146.49. This leaves a remaining amount of $881.51. This remaining amount in the pool is now distributed to those who wagered on Outcome 4: $881.51 / $110.00 = 8.01 $8 per $1 wagered. This payout includes the $1 wagered plus an additional $7 profit. Thus, the odds on Outcome 4 are 7-to-1 (or, expressed as decimal odds, 8.01).
Prior to the event, betting agencies will often provide approximates for what will be paid out for a given outcome should no more bets be accepted at the current time. Using the wagers and commission rate above (14.25%), an approximates table in decimal odds and fractional odds would be:
In real-life examples, such as horse racing, the pool size often extends into millions of dollars with many different types of outcomes (winning horses) and complex commission calculations.
Sometimes, the amounts paid out are rounded down to a denomination intervalin the United States and Australia, 10 intervals are used. The rounding loss is sometimes known as breakage and is retained by the betting agency as part of the commission.
In horse racing, a practical example of this circumstance might be when an overwhelming favorite wins. The parimutuel calculation results might call for a very small winning payout (say, $1.02 or $1.03 on a dollar bet), but the legal regulation would require a larger payout (e.g., $1.10 on a dollar bet). In North America, this condition is usually referred to as a minus pool.