This section explainssome of the terms and phrases used in gambling.Understandinghow gambling works, especially in relation toodds, probability, house edge and randomness,can help protect people from gambling harms.Beingable to makean informed choiceaboutwhether to gamblebyunderstanding the likelihood of a positive outcomecan help you to not spend more than you can afford to lose, andhelp with rational thinking if youfeeltemptedto chaseyourlosses.
- Another word for gambling. Find more ways to say gambling, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus.
- Gambling Glossary: A Guide to Gambling Terms Most gambling games are pretty simple, but the terms used to talk about them are not. There's an entire language filled with slang terms that gamblers know, which can be intimidating or confusing to new players.
- Gambling slang is a general term for all the words and phrases which are associated with gambling. Common examples include snake eyes for a double one dice roll, cowboys for the kings in a deck of cards and a flutter, meaning a bet or a wager. Each game has its own set of associated terms, and there are many slang words and phrases used on the.
What are the 'odds'?
The odds are the probability, or the likelihood, of a specific outcome or event taking place, for example whether a team will win or match or whether six numbers in a lottery draw will match the selection made by a lottery player. To work out the odds, you divide the number of specific outcomes with the number of possible outcomes.
To help understand the gambling lingo and betting slang, we've defined the most common gambling phrases used in sports betting. Action The act of placing a bet or having an active wager on a.
For example, if you were rolling a dice and wanted the number three to come up, there is only one specific outcome; at the same time, there are six possible outcomes because the dice could land on one, two, three, four, five or six. Quote for luck. So the probability of you rolling a three is 1 in 6.
What is the 'House Edge'?
In gambling, the 'odds' are the chances a person has of winning a bet, but these always work against that person.
The 'house' refers to the people who offer the bet (the casino, bookmaker, slot machine owner, etc.) and they always have the 'edge'. This means that the designers of the machine or game make sure that it works in their favour and they will always make money overall.
In every betting game, the odds are against the player. Every person who hits the jackpot on a slot machine is actually winning money that previous players lost. The longer you gamble, the more likely it is that you will lose money, because the odds are against you. Many problem gamblers have the false belief that they will be able to 'beat the system' but over time they'll lose money, probably an awful lot of it.
The odds of winning the jackpot on a six-number lottery draw like the UK National Lottery are about 1 in 45 million. Think of it like this: your friend Dave lives somewhere in England and you want to call him at home but don't have his number. If you try reaching him by dialling one of 42 million phone numbers, your odds of getting his number right on the first try are better than the odds of winning the lottery jackpot.
What does 'Return to Player' mean?
Return to Player (RTP) is the term that gambling businesses use to describe the percentage of all the wagered money that a gambling machine or game will pay out over time. RTP is calculated over the long term, so over a number of months, rather than being a calculation of short term (e.g. session, daily or even weekly) payout. An 80% RTP does not mean that within that gambling session, or for that particular gambler, 80% of what has been wagered will be returned to them in winnings. In the short term, the return may be vastly different and can often be nothing, so you should only ever bet with money you can afford to lose.
What is skill and what is chance?
Some forms of gambling are down to chance, and some may involve some skill as well as chance. Here are some examples:
Chance:
Lottery, Euromillions etc
Scratchcards
Bingo
Roulette
Slot machines
Skill (at least partially):
Blackjack
Poker
Sports betting
In chance-based games, each outcome is as likelyasall ofthe others to happen, so a number 6 ball dropping in a bingo draw is as likely as a number 22. If a flipped coin landed on heads several times in a row, it's easy to think that it has to come up tails on the next flip. However, the coin doesn't 'remember' what it has landed on before in the same way that it doesn't 'decide' what to land on next.
No matter what has happened already, the probability of it landing on heads or tails is always 50/50. The result of a rolled dice or flipped coin is unknown and unpredictable, so we can say that the outcome is random.
This applies to whether a roulette wheel hits red or black, odds or even.
Return to Player (RTP) is the term that gambling businesses use to describe the percentage of all the wagered money that a gambling machine or game will pay out over time. RTP is calculated over the long term, so over a number of months, rather than being a calculation of short term (e.g. session, daily or even weekly) payout. An 80% RTP does not mean that within that gambling session, or for that particular gambler, 80% of what has been wagered will be returned to them in winnings. In the short term, the return may be vastly different and can often be nothing, so you should only ever bet with money you can afford to lose.
What is skill and what is chance?
Some forms of gambling are down to chance, and some may involve some skill as well as chance. Here are some examples:
Chance:
Lottery, Euromillions etc
Scratchcards
Bingo
Roulette
Slot machines
Skill (at least partially):
Blackjack
Poker
Sports betting
In chance-based games, each outcome is as likelyasall ofthe others to happen, so a number 6 ball dropping in a bingo draw is as likely as a number 22. If a flipped coin landed on heads several times in a row, it's easy to think that it has to come up tails on the next flip. However, the coin doesn't 'remember' what it has landed on before in the same way that it doesn't 'decide' what to land on next.
No matter what has happened already, the probability of it landing on heads or tails is always 50/50. The result of a rolled dice or flipped coin is unknown and unpredictable, so we can say that the outcome is random.
This applies to whether a roulette wheel hits red or black, odds or even.
Slang Terms For Gambling
It applies to whether the same number will come up in the National Lottery if it came up for the past 3 weeks in a row - it is just as likely to appear as it is not.
What does 'Random' mean?
Bet365 vegas casino. Random means that each possible outcome has the same chance, or probability, of occurring.
For example:
When you roll a dice, the probability of rolling a two is the same as the probability of rolling a six, which is the same probability of rolling any of the other numbers. So you could say that the chance of rolling a specific number is one in six.
When you flip a coin, the probability of it landing on heads is the same as the probability of it landing on tails, so you could say that it has a 50% chance or it's 50/50.
Remember: despite what you might think, you can't work out, predict or control an outcome that's based on chance and randomness – people who try to do this often lose a lot of money. Youtube com home. They might win now and then, but this is also down to chance. Thinking that you can beat the system can cause big problems. 7 sultans casino.
Can you spot a pattern in a random game?
No.
Slang Used in The Gambling & Betting Industry - Betting Slang Explanation for Betting Terms in U.K. and U.S.A.
Different Types Of Gambling
Many times punters have watched films or been in company of experienced gamblers and been completely baffled by whats being discussed,as many bettors use slang to exclude others who do not share their passion - this article will give you an explanation of what they mean when those strange slang words are used.
Remember - these are the slang terms in betting - full glossary at Betting Terms Explained;A Glossary.
ACTION This just means you are making a bet.
AWOL Punter leaves town without paying bookmaker.
BANKER Your best bet,a good thing,also a banker in bets that throws everything on to this selection.
BANKROLL A punters separate cash allocated for betting.
BAD BEAT Bet should have won,but bad luck intervenes.
BAILED UP Unlucky horse that gets blocked in running.
BAIL OUT One big bet to get back previous losses.
BEARD This is someone who places bets for somebody else,for a commission payment,usually for a shrewd punter,who bookmakers will not accept bets from.
BIG DIME A $10,000 bet.
BIG NICKEL A $5,000 bet.
BIRDCAGE Slang for parade ring at the track.
BLIND BET This is when a bookmaker,or a punter disguises his true intentions by betting on a horse small,and then hitting big with the real bet later.
BOTTLE Betting odds of 2/1.
BURLINGTON BERTIE Betting odds of 100/30.
BUCK A bet of $100.
BUY THE RACK Here the punter covers every combination to ensure a payout - and hopes for outsiders to show a profit.
C of E (Church of England) Stands for Custom and Excise.
CARPET Betting odds of 3/1.
CHALK The favourite.
CHALK PLAYER Punter who only backs favourites.
CIRCLED GAME This is when there is doubt about injuries to star player or non runners,so bookmakers will not take big bets until full facts are known.
CLIENT A bettor who is prepared to pay for information.
CLOCKER Is someone who times trainer workouts for fitness confirmation.
DEGENERATE Is a slang word used for a loser,a compulsive gambler.
DIME A bet of $1,000.
DOG Refers to outsider.
DOG PLAYER Punter who always backs underdog or outsider.
DOLLAR A $100 bet.
DOUBLE CARPET Betting odds of 33/1.
DRY No money to bet with.
EAR OLE 6/4 betting odds.
EXPOSURE How much you have laid out on a bet - the amount you will lose.
EDGE The percentage advantage the bookie has over punter - and sometimes the opposite.
FAST COMPANY A group of shrewd punters,
FIFTY CENTS A $50 bet.
FIGURE The amount a bookmaker or punter owes.
FIRING Somebody who is betting much more than usual with bigger bets.
FISH A mug punter.
FUTURES This is the American term for ante post bets used in England.
GRAND A £1,000 bet.
GETTING DOWN Placing a bet.
HANDLE This is the total cash take by bookies on specific event.
IN THE MONEY This means a horse is placed for payout.
JOLLY The Favourite.
JUICE Commission,a bookmakers built in profit.
LAYER This refers to anyone who offers odds and takes bets.
LAYING POINTS Betting when the favourite is odds on.
LAY OFF This is when bookmakers offload part of bet to another bookmaker.
LINEMAKER The odds compiler.
LONG UN £100 bet.
MACHINE This refers to Tote or Pari Mutuel odds.
MONKEY £500 bet.
MUSH Someone who always seems to inflict bad luck on his associates and pals - a Jonah.
MUSH ARTIST A punter who bets but refuses to pay.
NAP Best bet of the day.
NICKEL A $500 BET.
OFF THE BOARD A complete outsider that cannot win.
OVER ROUND Bookmakers profit percentage.
OVER BROKE Happens from time to time - bookmaker has book percentage at less than 100%,which means a loss.
OVERLAY This is when bookmakers have an imperfect book and odds favour the punter.
PICKS The American term for tips used in England.
PICK EM This is when 2 teams have equal chances.
PUBLIC Dedicated gamblers tend to only socialise with fellow gamblers.They don't understand other people who have no interest in betting or gambling,and disdainfully refer to them as 'squares' or 'the public '.
PIGEON Mug punter,a sucker.
PUPPY Underdog or outsider.
PUSH Moneyback,nobody wins or losses.
PROP BETS Or proposition bets,where punters bet on novelty markets within a game,like corners,bookings,first scorer,etc. - ok for fun punters,but swerved by serious gamblers.
RIGHT PRICE This is when Tote odds are so attractive,you bet even if not happy with selection.
RINGER Good horse substituted and runs under name of poor horse.
ROUF 4/1 betting odds.
RUNNER A bookmakers employee who watches other bookies odds.
SCALPER Arbitrage punter who backs both side and cannot lose.
SCORE A £20 bet.
SHOO IN A cert bet,maybe fixed.
SHARP This refers to a clever or winning punter.
SMART MONEY Usually refers to inside information like the trainer or stable yard.
SHUT OUT Window slams shut at Tote before punter can make bet.
SHYLOCK A Money lender.
SPOT PLAYER A patient punter who bets rarely and waits for best odds.
STEAMER A big gamble,with odds reducing fast.
STOOPER Tries to find winning Tote tickets thrown away in error.
SUCKER BETS These are multiple bets like yankees,patents etc.that bookmakers love.
SQUARE Newcomer to gambling.
SWEAT This is the agony punters go through when watching a sporting event when having a big bet on the outcome.
TAPPED OUT No money left to bet with.
TILT Or On Tilt.Term usually used in poker.It means you have had so much bad luck,or are so deep in trouble that you are 'on tilt' - betting like a maniac,reckless,and all thought process gone.
TOUT Somebody who sells tips for money.
TON £100 Pounds.
UNWELL This means a dedicated gambler has had a long losing run,and can indeed affect their health and wellbeing.Hence the gamblers lament that he 'needs to get well ' - back some winners.
VALUE Getting the best odds on a bet.
VIGORISH This is the margin of profit for bookmakers,also known as juice or vig.
WISE GUY Is someone who is a shrewd punter.
WELCH Someone who bets,but fails to pay when losing.
WRITE YOUR OWN TICKET No chance bet,and bookmaker will give you any odds you ask for.
By Pendil at SAFE BOOKMAKERS SITES.©This article can be reproduced by anyone,so long as article is reproduced full and intact with all links unchanged.End of article.
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