Two cards are drawn without replacement from a deck containing cards numbered from one to ten (one of each). After the first card is presented, participants bet whether the next card will be higher or lower than the first card. Thus there is maximal risk when the first card is five or six, zero risk when it is ten or one.
In later version of the task participants bet on whether the second card will be higher or lower before seeing the first card.
Definition contributed by TSchonberg about one year ago.