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    Gambling terminology

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    • Advance-deposit wagering

    • Advance-deposit wagering (ADW) is a form of gambling on the outcome of horse races in which the bettor must fund his or her account before being allowed to place bets. ADW is often conducted online or by phone. In contrast to ADW, credit shops allow wagers without advance funding; accounts are settled at month-end. Rac ... Read »


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    • Advantage gambling

    • Advantage gambling, or advantage play, refers to legal methods, in contrast to cheating in casinos, used to gain an advantage while gambling. The term usually refers to house-banked games, but can also refer to games played against other players, such as poker. Someone who practices advantage gambling is often referred ... Read »


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    • Arbitrage betting

    • Betting arbitrage, miraclebets, surebets, sports arbitraging is a particular case of arbitrage arising on betting markets due to either bookmakers' different opinions on event outcomes or plain errors. When conditions allow, by placing one bet per each outcome with different betting companies, the bettor can make a pro ... Read »


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    • Beginner's luck


    • Binary betting

    • Binary betting is a type of financial betting which displays the price of a bet as an odds index from 0 to 100 where the bet settles at 100 if an event happens and 0 if it does not. The greater the likelihood of an event happening the higher this price will be. A price of 91-93, for example, suggests the betting broker ... Read »


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    • Bookie

    • A bookmaker, bookie, or turf accountant is an organization that, or a person who, takes bets on sporting and other events at agreed-upon odds. Bookmakers in the United Kingdom focus betting on professional sports, especially horse racing and association football however, a wider range of bets, including on politic ... Read »


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    • Bookmaker

    • A bookmaker, bookie, or turf accountant is an organization that, or a person who, takes bets on sporting and other events at agreed-upon odds. Bookmakers in the United Kingdom focus betting on professional sports, especially horse racing and association football however, a wider range of bets, including on politic ... Read »


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    • Boxcars (slang)

    • Boxcars, also known as Midnight, is the outcome of rolling the dice in a game of craps and getting a 6 on each die. The pair of 6 pips resembles a pair of boxcars on a freight train. In modern parlance, it refers to such a roll in any game involving 6 sided dice which are marked with pips. The probability of this roll ... Read »


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    • Breaking the bank

    • In gaming, breaking the bank refers to a player winning a critical sum of money from the casino. The literal, extremely rare, situation of breaking the bank, is winning more than the house has on hand. The term can also been used for the act of winning more chips than there are at the table. Another situation of it por ... Read »


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    • Card counting

    • Card counting is a casino card game strategy used primarily in the blackjack family of casino games to determine whether the next hand is likely to give a probable advantage to the player or to the dealer. Card counters are a class of advantage players, who attempt to decrease the inherent casino house edge by keeping ... Read »


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    • Casino token

    • Casino tokens (also known as casino or gaming chips, checks, or cheques) are small discs used in lieu of currency in casinos. Colored metal, injection-molded plastic or compression molded clay tokens of various denominations are used primarily in table games, as opposed to metal token coins, used primarily in slot mach ... Read »


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    • Chinese auction

    • A Chinese auction is a combination of a raffle and an auction that is typically featured at charity, church festival and numerous other events. Can also be known as penny social, penny sale, tricky tray or pick-a-prize according to local custom, or to avoid causing offense. The difference between a raffle and a Chines ... Read »


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    • Coin board

    • There are two kinds of coin boards. The first kind, also known as a merchandise board, is a variation on pull-tab games. A game board of this type typically comes with a registered package of pull-tab tickets, a signers card, and a pay-out slip. When a ticket is sold, the player opens the ticket to reveal its hidden ... Read »


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    • Comps (casino)

    • In the context of casinos, comps are complimentary items and services given out by casinos to encourage players to gamble. The amount of comps that a player is given usually depends on what game they play, how much they bet, and how long they play. Most casinos have casino hosts who are responsible for giving out free ... Read »


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    • Crimp (gambling)

    • In gambling terminology a crimp is a bend that has been intentionally made on the corner(s) of a playing card to facilitate identification. A card cheat will typically bend some of the important cards during the game. Below are just several of the most popular examples. In poker, for instance, a cheat may crimp one o ... Read »


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    • Croupier

    • A croupier or dealer is someone appointed at a gambling table to assist in the conduct of the game, especially in the distribution of bets and payouts. Croupiers are typically employed by casinos. Originally a 'croupier' meant one who stood behind a gambler, with extra reserves of cash to back him up during a gamb ... Read »


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    • Double or nothing

    • Double or nothing (UK often Double or quits) is a gamble to decide whether a loss or debt should be doubled or cancelled, if your opponent wants to play double or nothing you decide whether you want to play or not. It refers to the potential outcome in a betting situation where the winner risks what has been won for a ... Read »


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    • Edge sorting

    • Edge sorting is a technique used in advantage gambling where a player determines whether a face-down playing card is likely to be low or high at casino table games by observing and exploiting subtle unintentional differences on the backs of some types of card, after persuading a croupier to cooperate by unwittingly sor ... Read »


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    • En prison

    • In roulette, the en prison rule is an opportunity to recover one's stakes after a spin of zero, provided one's bet was even-odds (i.e. high–low, even–odd, red–black). It is a variant of the la partage rule, in which a player loses only half his even-odds stake if the original spin is a zero, recouping th ... Read »


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    • End-of-the-day betting effect

    • The end-of-the-day betting effect is a cognitive bias reflected in the tendency for bettors to take gambles with higher risk and higher reward at the end of their betting session to try to make up for losses. William McGlothlin (1956) and Mukhtar Ali (1977) first discovered this effect after observing the shift in bett ... Read »


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    • Even money

    • Even money is a wagering proposition with even odds - the bettor stands to lose or win the same amount of money. Beyond gambling, even money can mean an event whose occurrence is about as likely to occur as not. Even money is also known as 50–50. In professional gambling, even money bets typically do not have odd ... Read »


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    • Expected value

    • In probability theory, the expected value of a random variable, intuitively, is the long-run average value of repetitions of the experiment it represents. For example, the expected value in rolling a six-sided die is 3.5, because the average of all the numbers that come up in an extremely large number of rolls is close ... Read »


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    • Gambler's conceit


    • Gambler's fallacy


    • Gambler's ruin


    • Getting out stakes

    • The Getting out stakes is a slang term in British and Irish horse race betting, referring to the last race of the day. Gamblers who have not won money on other races try to recoup or reduce their losses by betting on the last race at long odds. Although mostly a slang term, bookmakers themselves have named races as su ... Read »


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    • Glossary of Australian and New Zealand punting

    • The Australian and New Zealand punting glossary explains some of the terms, jargon and slang which are commonly used and heard on Australian and New Zealand racecourses, in TABs, on radio, and in the horse racing media. Some terms are peculiar to Australia, such as references to bookmakers, but most are used in both co ... Read »


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    • Glossary of North American horse racing

    • Glossary of North American horse racing: Additional glossaries at: ... Read »


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    • Groom Porter

    • The Groom-Porter was an office at the royal court of the kings of England, who had 'the Inspection of the King's Lodgings, and takes care that they are provided with Tables, Chairs, Firing, &c. As also to provide Cards, Dice, &c. when there is playing at Court: To decide Disputes which arise in Gaming'. He was also res ... Read »


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    • Handicapping

    • Handicapping, in sport and games, is the practice of assigning advantage through scoring compensation or other advantage given to different contestants to equalize the chances of winning. The word also applies to the various methods by which the advantage is calculated. In principle, a more experienced player is disadv ... Read »


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    • High roller

    • A high roller, also referred to as a whale, is a gambler who wagers large amounts of money. High rollers often receive lavish "comps" from casinos to lure them onto the gambling floors, such as free private jet transfers, limousine use and use of the casinos' best suites. Casinos may also extend credit to a player to c ... Read »


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    • Holdout (gambling)

    • In gambling jargon, a holdout is any of numerous accessories used by cheats to help them "hold-out" a card (or cards) during a card game. Some holdout devices are extremely simple and require moderate or advanced manipulative skill to be used properly. On the other hand, there is a group of holdout devices which are me ... Read »


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    • Hole carding

    • Hole carding refers to obtaining knowledge of cards that are supposed to be hidden from view in card games. The term is usually applied to blackjack but can apply to other games with hidden hole cards, like three card poker and Caribbean stud poker. So long as it does not involve the use of a device like a mirror or ac ... Read »


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    • Inverse gambler's fallacy


    • Late betting

    • Late betting or past posting is making a bet after the time when no more bets are to be taken. It is considered cheating; information may have become available, including the outcome of the event, that was not available to those making earlier bets. The term past posting originates from horse racing where a bugler sou ... Read »


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    • Locals casino

    • A locals casino is a casino designed primarily to attract residents of the area in which it was built rather than tourists or vacationers. The term is most commonly associated with casinos in Nevada, USA, to distinguish them from casinos that target mostly tourists in a central area. Locals casinos can range from ... Read »


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    • Low roller

    • A high roller, also referred to as a whale, is a gambler who wagers large amounts of money. High rollers often receive lavish "comps" from casinos to lure them onto the gambling floors, such as free private jet transfers, limousine use and use of the casinos' best suites. Casinos may also extend credit to a player to c ... Read »


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    • Martingale (betting system)

    • A martingale is any of a class of betting strategies that originated from and were popular in 18th century France. The simplest of these strategies was designed for a game in which the gambler wins his stake if a coin comes up heads and loses it if the coin comes up tails. The strategy had the gambler double his bet af ... Read »


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    • Miraclebet

    • Miraclebets are a particular case arising on betting markets due to either bookmakers' different opinions on event outcomes or plain errors. By placing one bet per each outcome with different betting companies, the bettor can guarantee to make a profit. As long as different Bookmakers are used for betting the Bookmaker ... Read »


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    • Muck (gambling)

    • Muck in gambling has multiple meanings. In poker, it most often refers to the pile of discarded cards into which players may throw their folded hands, and into which the dealer may place burned cards. It may also refer to the action of throwing a hand into the muck. When a player is folding his hand (face down) without ... Read »


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    • Natural (gambling)

    • A natural is a term in several gambling games; in each case it refers to one or two specific good outcomes, usually for the player, and often involves achieving a particular score in the shortest and fastest manner possible. At blackjack, the best possible hand for the player is to reach a score of 21 with exactly two ... Read »


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    • Odds compiler

    • An odds compiler (or trader) is a person employed by a bookmaker or betting exchange who sets the odds for events (such as sporting outcomes) for customers to place bets on. Apart from pricing markets, they also engage in any activity regarding the trading aspects of gambling, such as monitoring customer accounts and t ... Read »


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    • Oscar's grind


    • Pit manager

    • A pit boss (more commonly known today as the pit manager) is the person who looks after the employees who work in a casino pit. The job of the pit boss is to watch the floormen, who are the supervisors for table games dealers in a casino. One pit boss monitors all floormen in the pit; there is usually one floorman for ... Read »


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    • Progressive jackpot

    • A progressive jackpot is a jackpot for a gaming machine (usually a slot machine or video poker machine) where the value of the jackpot increases a small amount each game (unless the player wins the jackpot). Normally multiple machines are linked together to form one large progressive jackpot that grows more quickly bec ... Read »


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    • Provably fair

    • In online gambling provably fair describes an algorithm which can be analyzed and verified for fairness on the part of the service operator. Provably fair algorithms are often used in the operation of an online casino. In a provably fair gambling system, a player places bets on games offered by the service operator. T ... Read »


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    • Risk premium

    • For an individual, a risk premium is the minimum amount of money by which the expected return on a risky asset must exceed the known return on a risk-free asset in order to induce an individual to hold the risky asset rather than the risk-free asset. It is positive if the person is risk averse. Thus it is the minimum w ... Read »


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    • Shill

    • A shill, also called a plant or a stooge, is a person who publicly helps or gives credibility to a person or organization without disclosing that they have a close relationship with the person or organization. Shills can carry out their operations in the areas of media, journalism, marketing, confidence games, or other ... Read »


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    • Sin City (description)

    • Sin City is an urban area (a city or part of) that caters to various vices. These vices may be legal (depending on area) or illegal activities which are tolerated. Examples of vices include sex-related services (prostitution, strip clubs, sex shops, etc.), gambling (casinos, betting shops, etc.), or drug use (alcohol, ... Read »


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    • Skimming (casinos)

    • Skimming refers to the illegal transfer of funds from casinos to outside personnel without official documentation. Skimmed money is usually transferred in cash to evade taxes and to fund organized crime anonymously. The quantities of money skimmed are usually small portions of the casino's total profit so as not to aro ... Read »


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    • Skin in the game (phrase)

    • To have "skin in the game" is to have incurred monetary risk by being involved in achieving a goal. In the phrase, "skin" is a synecdoche for the person involved, and "game" is the metaphor for actions on the field of play under discussion. The aphorism is particularly common in business, finance, and gambling, and is ... Read »


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    • Snake eyes

    • In gambling in general and the game of Craps in particular, snake eyes is the outcome of rolling the dice in a game and getting only one pip on each die. The pair of pips resembles a pair of eyes, which is appended to the word snake because of the creature's long-standing association with treachery and betrayal. The di ... Read »


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    • Spread betting

    • Spread betting is any of various types of wagering on the outcome of an event where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" outcome, such as fixed-odds (or money-line) betting or parimutuel betting. A spread is a range of outcomes and the bet is whether the outcome will be ... Read »


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    • Sweepstakes parlor

    • A sweepstakes parlor (or sweepstakes café) is an establishment that gives away chances to win prizes with the purchase of a product or service, typically internet access or telephone cards. They began to appear in the Southern United States some time around 2005, and quickly proliferated. Purchased entries are redee ... Read »


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    • Table limit

    • The table limit is the minimum and maximum bet that a gambler can make at a gaming table. It is a form of yield management in that the limits can be changed to optimize the profit from a gaming table. Gaming tables have a limited resource to sell, the seats used by the players. Table limits can also be used to manage, ... Read »


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    • Tote betting

    • The Tote is the only bookmaker in Britain which is allowed to offer parimutuel betting on horse racing. Other bookmakers offer a Tote service through syndication, while other bookmakers will accept a Tote bet and pay out on exactly the same terms as the Tote. The pooled bets offered by the Tote are: Win, Place, Exact ... Read »


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    • Va banque

    • Va banque or Vabanque is a gambling term from the card game of Pharo or Faro, which was popular in the 18th and 19th century. It is similar to the decision to "go bank" (or "banco") in chemin de fer, a form of baccarat. It means that a player bets equal to the current amount of money in the game's "bank". Vabanque is g ... Read »


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    • Venus Throw

    • The Venus Throw was the highest roll in the Ancient Roman gambling game of tali (knucklebones). The game was played with four 4-sided rectangular dice numbered I, III, IV and VI, usually made from sheep's or goat's knucklebones. In a Venus Throw, each talus landed on a different side, yielding as a score of 14. A gambl ... Read »


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    • Vigorish

    • Vigorish, or simply the vig, also known as juice, under-juice, the cut or the take, is the amount charged by a bookmaker, or bookie, for taking a bet from a gambler. In the United States, it also means the interest on a shark's loan. The term originates from the Russian word for winnings, выигрыш v ... Read »


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    • Yo-leven

    • Yo-leven (commonly referred to as Yo) is the outcome of rolling an 11 in the game of craps. The term was coined to prevent confusion with seven, which has a similar sound. The term has been adopted in poker, referring to a bet of 11. Rolling two 6-sided dice 25 times gives a probability of 0.760442 that at least ... Read »


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