Gambling Terms

In this MiFinity Bonus Gambling Terms Guide, we help you navigate the exciting world of online casinos. If you’re new to the online casino world, it’s easy to get overwhelmed by the used jargon and terms that may seem foreign. But don’t worry, we’re here to help you make sense of it all.

Our comprehensive glossary is designed to offer you a complete breakdown of the most common online casino terms, gambling meanings, abbreviations and sayings related to online gaming. Let’s jump right in!

Gambling Terms & Glossary

Accumulator

also known as ‘acca’, this sports betting term combines wagers from multiple games into one bet to create a bigger payout. All selections need to win for an accumulator to win.

ACS

an automatic card shuffler.

Action

the amount of money that a player bets across an entire playing session.

All-In

 in poker, a situation where a player bets all of their remaining chips or money in a single hand.

All or Nothing

in Bingo, a ticket only wins on the condition that either all numbers picked by a player are drawn or none of them are drawn.

Ante

in Poker, a mandatory stake required from each player to be dealt cards in a hand.

Baccarat

 a well-known table game that comes in various versions. In this game, players place their bets on whether the dealer or the player will have the winning hand from a 2 or 3 card hand. The winning hand is determined by achieving a cumulative points total closest to nine. It’s worth noting that face cards and 10s have no point value..

Banker

the person betting against all of the players at the table.

Behind

 when a player has a hand that is unlikely to beat an opposing player’s hand.

Bet

a wager made during a game.

Betting Limits

the set minimum and maximum bet amounts that each player can make.

Blackjack

a table game where players play against the dealer. To beat the dealer, players must score a hand of 21 points, or as close to, without going over (The winning hand is called a “Blackjack”).

Blinds

in poker, the small and big blinds are the two players to the dealer’s left who must place bets before any cards are dealt.

Bonus

 an incentive that an online casino gives players for opening a new account and/or making a deposit.

Book

an establishment that accepts bets on the outcome of sporting events.

Buy In

the amount of money needed to participate in a card tournament.

Call

in poker, match the same amount as the previous bet.

Casino Advantage

also referred to as the “House Edge”, this is the mathematical advantage that the casino has over players.

Cashback

a refund credited to a player’s account based on a percentage of their gaming losses. The percentage depends on the casino cashback promotion.

Cash-out

when a player withdraws their money from their online casino balance.

Chase

placing a bet in an attempt to recover money after making a losing bet.

Chips: 

tokens used to represent money and make bets in gambling games.

Cold Streak

a losing streak.

Craps

 a dice game in which players bet on the outcomes of the roll of a pair of dice.

Dealer

the person who shuffles and deals the cards.

Deck

 the cards being used for a casino game.

Deposit

the payments players make to their online casino account to play games for real money.

Deposit Bonus

a bonus players recieve once they make a deposit. Most of these are advertised as welcome package offers.

Doubling Down

in Blackjack, doubling down means doubling your bet mid-hand and receiving one additional card.

Double or Nothing

a bet that pays out the original wager amount to break even.

eCOGRA

 The acronym for eCommerce Online Gaming Regulation and Assurance is eCOGRA. If you see the eCOGRA logo on a site’s homepage, it means that the site has been approved and is committed to ensuring that its games are fair and its players are protected.

Edge

having the advantage over an opponent.

Even Money

 a bet with 1:1 odds where the player and the house have the same probability of winning.

Expected Value

the amount a player could expect to win or lose if repeatedly betting the same amount on the same odds.

Face Card

a card with a face – Jack, Queen or King – of any suit.

Favourite

 The team or competitor most likely to win in a sports bet, as determined by the oddsmaker.

Figure

 in gambling, the amount owed to or by a bookmaker.

Fill

 (also known as a “full house” or “straight flush”) in poker, this refers to the 5th card drawn that makes a full hand.

Free Spins

 a promotional offer in which a player receives a set number of attempts that can be used on a specific slot machine at an online casino.

Getting Down

to make a bet.

Hit

taking an additional card.

High Roller

a gambler that wagers large amounts of money.

House

 the casino.

House Rules

a set of rules created by a casino.

House Edge

 the mathematical advantage that the house has in a game.

Jackpot

 On slot machines and other games, the jackpot is the largest prize available. It is typically reserved for special prizes.

Juice

 in sports betting, the commission the bookie earns.

Keno

a lottery-style gambling game where players place bets on numbers from 1-80.

Kicker

 in poker, the high card that breaks a tie between otherwise identical hands.

Laying the odds

when a player is expected to win less than the amount they’ve wagered.

Limits

 restrictions set for the amount players can bet in a given game.

Live Dealer Games

 online casino games that replicate a physical casino by having a live dealer host the games through live streaming.

Martingale

a betting system whereby players follow up a winning bet with a bet of that same amount, and a losing bet with a bet double the amount they’ve just lost.

Maximum Bet

 the most that a casino will allow you to wager in a game.

Minimum Bet

 the least that a casino will allow you to wager in a game.

Multiplier

 a slot feature that multiplies standard payouts by a predetermined amount.

Natural

a two-card hand worth 21 winning points in Blackjack. In Poker, a two-card hand.

No Action

 in Sports Betting, a wager in which no money is lost or won.

Odds

 the casino’s set ratio of the competitor’s chance of winning.

Off-suit

 Pocket cards that are not the same suit.

Open

 the first to bet in a hand in Poker.

Online Casino

 the virtual version of a traditional, physical casino.

Overlay

 where a strong bet means the player has an edge over the casino.

Parlay

 when gambling, the act of adding winnings from the previous roll to the current bet. To bet on two or more games to reinvest the winnings from the initial win to the next wager. Here, all selections must be correct for the parlay to succeed.

Payout Percentage

(or RTP, Return to Player) the theoretical amount the game or casino will pay back to players over a particular time frame.

Progressive Prize

 The prize from a slot machine that increases progressively with every coin that is playe d into it.

Push

 when a bet ends in a tie and no money is exchanged.

Quads

 in poker, having a number in all four suits.

Random Number Generator (RNG)

a patented algorithm that selects random numbers, guaranteeing transparency and an unbiased outcome in online casino games.

Rank

 in poker, the numerical value of a card.

Reels

 the horizontal columns in video slots where all symbols are located. Players spin reels after placing their bet and where the reels come to rest determines whether the bet is successful. Slots mostly come in 5 reels, but they can also come in 3 or 7.

Reload Bonus

 an online casino bonus offered to players who have already made a deposit with that casino in the past.

Return

 a player’s total winnings on a bet.

Runner

 someone who places a bet on behalf of someone else.

Roulette

 A popular gambling game where players bet on the numbered compartment of a revolving wheel for a small ball to rest on, red or black.

Session

 the period of time spent playing a game.

Shark

  a player that is especially good at playing casino games and prays on weaker players, sometimes called “fish”.

Slot Machine

 slot machines are very popular and straightforward games where you bet on the outcome of the spinning of reels. Traditional slot machines use mechanical or electronic reels, whereas online casinos use video displays to simulate old-style reels.

Sportsbook

 a company or individual that accepts bets from individual sports bettors.

Suit

 Playing cards are divided into four categories called suits: spades, hearts, diamonds, and clubs.

Table limit

 The minimum and maximum amount of money players can wager in a casino game.

Tapping Out

 a player who has lost all of their money.

True

 the genuine odds of something happening.

Underdog

 refers to the team or player who appears to be more likely to lose in a sporting event.

Video Poker

a popular electronic card game based on five-card draw poker, where the aim of the game is to assemble the strongest poker combination.

VLT

 Video Lottery Terminal.

Wager

 any type of bet.

Wagering Requirement

the amount of money a player needs to bet to be able to withdraw the money from their account. A wagering requirement ensures that players cannot immediately cash out after claiming a bonus.

Withdrawal

 the act of taking money out of one’s online casino balance.