Gambling Glossary A-Z
A plain-English glossary of gambling terminology, from Action to Vig. Over 100 terms explained in plain English to help you understand betting and casino jargon.
A
- Accumulator (Acca)
- A bet combining multiple selections where all must win. Higher risk, higher potential return.
- Action
- Total amount wagered. Also refers to having a bet in play ("I have action on the game").
- Against the Spread (ATS)
- Betting on a team to cover the point spread, not just win outright.
- Arbitrage
- Betting on all outcomes of an event at different bookmakers to guarantee profit regardless of result.
B
- Bankroll
- The total amount of money set aside for betting.
- Bet Builder
- A feature allowing you to combine multiple bets from the same event into one wager.
- Bonus Abuse
- Exploiting bookmaker promotions beyond intended use, often leading to account restrictions.
- Book/Bookmaker
- A company or person that accepts bets on sporting events.
C
- Cash Out
- Settling a bet before the event finishes, taking a guaranteed return.
- Chalk
- The favorite in a betting market.
- Closing Line
- The final odds offered before an event starts.
- Commission
- Fee charged by betting exchanges on winning bets (typically 2-5%).
D
- Dead Heat
- When two or more selections tie. Stakes are typically divided.
- Decimal Odds
- Odds format showing total return per unit staked (e.g., 2.50 means 2.50 return per 1 staked).
- Dog (Underdog)
- The selection expected to lose, offering higher odds.
- Double
- A bet on two selections, both must win.
- Drift
- When odds get longer (price increases) before an event.
E
- Each Way
- Two bets in one: a win bet and a place bet at reduced odds.
- Edge
- An advantage over the bookmaker, often expressed as a percentage.
- Expected Value (EV)
- The average profit or loss per bet over the long term.
- Exposure
- Total potential loss on a bet or set of bets.
F
- Favorite
- The selection most likely to win, offering lower odds.
- Fixed Odds
- Bets where the odds are set when the bet is placed and don't change.
- Fractional Odds
- Traditional UK odds format (e.g., 5/2 means 5 profit for every 2 staked).
- Free Bet
- A promotional bet where the stake is provided by the bookmaker.
G
- Gambler's Fallacy
- The incorrect belief that past random events affect future probabilities.
- Grinder
- A bettor who makes small, consistent profits over time.
- Gubbed
- Slang for having a bookmaker account restricted or limited.
H
- Handicap
- A virtual advantage or disadvantage applied to level the playing field.
- Handle
- Total amount of money wagered on an event.
- Hedging
- Placing bets to reduce risk or guarantee profit on an existing position.
- House Edge
- The mathematical advantage the casino/bookmaker has over players.
I
- Implied Probability
- The probability suggested by betting odds.
- In-Play (Live Betting)
- Betting on events after they have started.
J
- Juice (Vig/Vigorish)
- The bookmaker's commission built into the odds.
K
- Kelly Criterion
- A formula for calculating optimal bet size based on edge and odds.
- KYC
- Know Your Customer - identity verification required by regulated operators.
L
- Lay Bet
- Betting against an outcome (acting as the bookmaker).
- Liability
- Potential loss on a bet, especially relevant for lay bets.
- Line
- The odds or point spread on a market.
- Lock
- A supposedly guaranteed winner (spoiler: there's no such thing).
M
- Margin
- The bookmaker's profit built into odds, also called overround.
- Matched Betting
- Using free bets and lay bets to extract guaranteed profit from promotions.
- Money Line
- A bet on which team/player will win outright, without a spread.
N
- Nap
- A tipster's most confident selection of the day.
O
- Odds
- The ratio representing the likelihood of an outcome and potential payout.
- Odds Compiler
- Person who sets the odds for a bookmaker.
- Over/Under (Totals)
- Betting on whether a statistic will be higher or lower than a set number.
- Overround
- The total implied probability exceeding 100%, representing the bookmaker's margin.
P
- Parlay
- American term for accumulator.
- Point Spread
- Handicap in points applied to make both sides attractive.
- Price
- Another term for odds.
- Push
- A tie where the stake is returned.
R
- Return
- Total amount received if bet wins (stake + profit).
- ROI (Return on Investment)
- Profit as a percentage of total amount wagered.
- RTP (Return to Player)
- Percentage of wagered money a game returns over time.
S
- Sharp
- A professional or skilled bettor whose action moves lines.
- Single
- A bet on one selection.
- Soft Bookmaker
- A bookmaker with less efficient odds, often offering promotions.
- Square
- A recreational or amateur bettor.
- Stake
- The amount of money wagered on a bet.
- Steam
- Heavy betting action that causes odds to move quickly.
T
- Tilt
- Emotional state leading to poor betting decisions, often after losses.
- Treble
- A bet on three selections, all must win.
U
- Unit
- Standard bet size, typically 1-2% of bankroll.
V
- Value Bet
- A bet where the odds are higher than the true probability suggests.
- Variance
- The natural fluctuation in results due to randomness.
- Vigorish (Vig)
- The bookmaker's commission on bets.
W
- Wagering Requirements
- Conditions requiring bonus money to be bet a certain number of times before withdrawal.
- Wager
- Another term for bet.
- Whale
- A high-stakes gambler.
- Wild Card
- A card that can substitute for any other card to complete a winning hand.
- Withdrawal
- Removing funds from your gambling account to your bank or payment method.
Additional Important Terms
- Action
- The total amount of money wagered over a period. High action players may receive VIP perks.
- Ante
- A forced bet placed before cards are dealt, common in poker and some table games.
- Arbitrage
- Betting on all outcomes across different bookmakers to guarantee profit regardless of result.
- Bankroll
- The total amount of money set aside specifically for gambling. Proper bankroll management is essential for long-term play.
- Bonus Abuse
- Exploiting bonus offers in ways not intended by operators, often leading to account restrictions.
- Bust
- In blackjack, exceeding 21. Also refers to losing your entire bankroll.
- Card Counting
- Tracking dealt cards in blackjack to determine when remaining deck favors the player.
- Cashing Out
- In sports betting, settling a bet early for less than potential full winnings (or cutting losses).
- Chase
- Increasing bets after losses to try to recover: a dangerous practice leading to bigger losses.
- Cold Streak
- An extended period of losing. Part of normal variance, not predictive of future results.
- Comp Points
- Loyalty points earned through play, redeemable for cash, bonuses, or other rewards.
- Deposit Limit
- A responsible gambling tool limiting how much you can deposit in a set period.
- Double Down
- In blackjack, doubling your bet in exchange for receiving exactly one more card.
- Draw
- In poker, an incomplete hand that needs specific cards to improve. Also a tie result in betting.
- Due Bet Fallacy
- The mistaken belief that an outcome becomes more likely because it hasn't occurred recently.
- EV (Expected Value)
- The average outcome of a bet calculated over many repetitions. Positive EV bets are profitable long-term.
- Exotic Bet
- Any bet beyond simple win/lose, including parlays, teasers, and prop bets.
- Fade
- To bet against someone or something, often a public favorite.
- Favorite
- The team, player, or outcome expected to win and given lower odds.
- Fish
- A weak or inexperienced player. Commonly used in poker.
- Flat Betting
- Betting the same amount on every wager rather than varying bet sizes.
- Freeroll
- A tournament with no entry fee but real prizes. Also a situation with no risk of loss.
- Full Pay
- Video poker machines with the best paytables for their variant.
- Gambler's Fallacy
- Believing past random events affect future probabilities. Each spin or hand is independent.
- Grind
- Playing for small, consistent profits over long periods rather than seeking big wins.
- Handicap
- A points advantage or disadvantage applied to level the playing field in betting.
- Handle
- The total amount of money wagered at a sportsbook or casino over a period.
- Hit
- In blackjack, requesting another card.
- Hold
- The percentage of wagers retained by the casino or sportsbook as profit.
- Hot Hand
- A winning streak. Often mistakenly believed to predict continued success.
- Inside Bet
- In roulette, bets placed on specific numbers rather than outside propositions.
- Insurance
- In blackjack, a side bet offered when dealer shows an ace. Generally a poor value bet.
- Juice
- The commission charged by sportsbooks on losing bets, same as vigorish.
- Kelly Criterion
- A mathematical formula for optimal bet sizing based on edge and bankroll.
- Limit
- Maximum bet accepted by a sportsbook or casino for a particular wager.
- Line
- The odds or point spread offered on a particular bet.
- Live Betting
- Placing wagers during an event as action unfolds. Also called in-play betting.
- Lock
- A supposedly certain winner. Nothing in gambling is truly locked.
- Loss Limit
- A responsible gambling tool restricting how much you can lose in a set period.
- Martingale
- A betting system that doubles stakes after each loss. Mathematically unsound long-term.
- Max Bet
- The maximum wager allowed on a particular game or the full betting amount on slots.
- Middling
- Betting both sides of a game at different lines to potentially win both bets.
- Muck
- In poker, to fold without showing cards. Also the discard pile.
- Natural
- In blackjack, an ace plus ten-value card for instant 21. In baccarat, 8 or 9 on first two cards.
- Negative Expectation
- A bet where the house has an edge and you expect to lose money long-term.
- Odds On
- When you must risk more than you can win, indicating a strong favorite.
- Off the Board
- A game or event temporarily or permanently removed from betting options.
- Outside Bet
- In roulette, bets on groups like red/black, odd/even, or columns.
- Over/Under
- A bet on whether the total score will be above or below a specified number.
- Overlay
- A bet where odds are more generous than the true probability suggests.
- Parlay
- A single bet combining multiple selections where all must win for the bet to pay.
- Pat Hand
- In blackjack, a hand totaling 17-21 that typically should not take more cards.
- Pick'em
- A game where neither side is favored, essentially a coin flip.
- Pit Boss
- Casino employee supervising table games and dealers.
- Point Spread
- A handicap applied to favorites to even out betting action.
- Pot Odds
- In poker, the ratio of the current pot size to the cost of a contemplated call.
- Press
- To increase bet size, typically after a win.
- Progression
- Any betting system that changes bet sizes based on previous results.
- Push
- A tie result where the bet is returned without winning or losing.
- Rake
- The commission taken by poker rooms from each pot.
- RNG
- Random Number Generator, the software ensuring fair random outcomes in online games.
- ROI
- Return on Investment, measuring profit as a percentage of money wagered.
- Rollover
- Same as wagering requirements: the amount that must be bet before withdrawing bonuses.
- Session
- A single gambling period from start to finish.
- Sharp
- A professional or highly skilled bettor whose action bookmakers respect and fear.
- Shoe
- The device holding multiple decks of cards in blackjack or baccarat.
- Soft Hand
- In blackjack, a hand with an ace counted as 11 that cannot bust with one card.
- Split
- In blackjack, dividing a pair into two separate hands with a second bet.
- Stake
- The amount of money wagered on a bet.
- Stand
- In blackjack, declining additional cards and playing with current hand.
- Steam
- Rapid line movement caused by heavy betting action, often from sharp bettors.
- Stiff
- In blackjack, a hard hand totaling 12-16 that risks busting if hit.
- Straight Up
- A bet on a single number in roulette, paying 35:1.
- Surrender
- In blackjack, forfeiting half your bet to abandon a poor hand.
- System
- A structured approach to betting, often claiming to beat the house. Most don't work.
- Teaser
- A parlay where point spreads are adjusted in the bettor's favor for reduced odds.
- Third Party Deposit
- Deposits made by someone other than the account holder, typically prohibited.
- Tip
- A gratuity given to dealers or other casino staff.
- True Odds
- The actual probability of an event occurring, before any house edge.
- Underdog
- The team, player, or outcome expected to lose and given higher odds.
- Upcard
- In blackjack, the dealer's visible card that players use to make strategy decisions.
- Volatility Index
- A measure of how much results deviate from expected outcomes over time.
- Wash
- A break-even result where you neither win nor lose.
- Welcome Bonus
- A bonus offered to new players upon registration or first deposit.
- Wheel
- In poker, the lowest possible straight: A-2-3-4-5.
- Wire Act
- US federal law affecting interstate gambling transmission.
- Yield
- Profit expressed as a percentage of total money wagered.
- Zero
- The green pocket on a roulette wheel that provides the house edge.