Online Gambling Glossary

Online Gambling Glossary Terms

Action - A bet, that is, the amount of money one "puts into action" during a gambling session

Bankroll - The total amount of money available to a player or casino that can be used to place a bet ("wad" in vernacular)

Chips - Round-shaped tokens gamblers use instead of cash.

Comps - Free gifts (for example, meals, drinks, hotel accommodations) that casinos provide to attract players.

Deposit - The amount a player pays an online casino in order to be able to play for money.

Dice - Plural for "die." which is a cube with numbers (from 1 to 6) on each side. In gambling dice are thrown to generate random numbers.

Double down - The opportunity for a player in a favorable situation to double his or her bet after receiving the first two cards and with one card to come.

Draw a card - To pick an extra card, in addition to the original hand.

Edge - An advantage (either the bettor's or the casino's) in a bet.

Hand - Term used to denote the kind of cards (good or bad) that a player is holding.

High roller - A gambler that places big bets or takes high risks.

Payout percentage - The portion of the money bet (usually 100 percent minus the house (casino's) edge) that that is being paid out as winnings. This is also known as payback percentage.

Probability - A likelihood that something will happen, established by a mathematical calculation. It ranges between 0 (impossible) and 1 (certain to occur). Probability is often mistaken for "odds," which is the ratio of the probability of an event occurring to the probability that it won't.

Progressive - A slot machine whose jackpot "progresses" or increases accordingly with each bet placed. When someone wins the jackpot, it returns to the original amount.

Round - A single betting event, that is, all the bets made between, say, the dealing of the cards and the winner claiming the prize (such as in poker). The scope of a round may vary with each game.

Shark - An astute or crafty gambler who uses both skill and deception to win.

System - A strategy used by a bettor to gain an edge or to determine when he or she should raise or lower the bet. The system is usually mathematically based.

Tokens - Also known as chips or cheques, these metal or plastic discs are used instead of real currency in casino games. Virtual alternatives of course are provided at online casinos.