Path: Online Gambling Forum - Internet Casino Betting News Casino Guide Glossary I - P

I - P

Casino Glossary I - P

  • Inside Bets – Roulette bet that involves picking specific numbers, either a single number or small group of numbers.
  • Insurance – A side bet in Blackjack that protects the player from a dealer Blackjack if the up card is an ace. The bet pays double if there is a Blackjack and the player loses if it is not.
  • Jackpot – Winning a top prize on a slot or video machine.
  • Jacks or Better – Indicates the minimum hand needed to get a payout in video poker games. There is no payout for any hand less than Jacks or better.
  • Joker – The card in a deck with the image of a Court Jester. Sometimes used as a wild card, but not used often in casino gambling games.
  • Juice – The amount taken by the house on a game or bet. Also called the Vigourish or simply, the Vig.
  • Kicker – A card that acts as a tie breaker to decide the winner when two or more players have identical four card hands in Poker.
  • Ladderman – The person in Baccarat who oversees the game from a high chair over the table.
  • Laying the Odds – When the odds on a bet will payout less than the original amount of the wager. This generally appears in sports betting when one team or horse is overwhelmingly favored. This is the opposite of Taking the Odds, where the payout is equal to or greater than the amount bet.
  • Layout – The betting area on table games laid out on the cloth of the table.
  • Load up – Play the maximum number of coins or credits on a slot or video machine.
  • Long Run –When the ratio of wins and losses reaches a point where subsequent rounds of play will not change the ratio significantly. 
  • Loose – A slot or video machine that is paying out regularly.
  • Low Poker – A type of Poker where the lowest hand wins. Also known as Lowball or Low Ball.
  • Marker – A player's promise to pay back the casino made at the gaming table.
  • Martingale – A betting system where a player doubles their bet after a loss in hopes of recouping the loss plus a profit. Also called Doubling-up.
  • Match Play – A head-to-head format usually used in cards where one player advances or wins based on accumulating a set number of points or money.
  • Mechanic – Someone who has the skill to cheat at cards by dealing from the bottom of the deck or dealing the second card.
  • Mini-Baccarat – A version of Baccarat that has fewer players, and is less formal and much quicker. Odds are the same as traditional Baccarat.
  • Money Put In Action – This is the total of all bets a player has riding on a bet or game. Casinos use this amount to determine comps.
  • Natural – A two-card Blackjack (Ace, plus a Ten or Face card), or in Baccarat a two-card total of eight or nine.
  • Negative Expectation – The expected loss rate for a player after playing over time or playing the same betting scenario a number of times.
  • Net Winnings - The total of winnings less the original stake. Some also calculate their expenses in their net.
  • Non-value Chip – A chip with no dollar amount markings. The value is established when buying in and is mainly used at the Roulette table.
  • Number Pool – The range of numbers used in any number picking game like Keno, Bingo or a Lottery.
  • Nut – Has two meanings. In cards, it indicates the best or winning hand. Also the amount a player wants to win before ending for the day.
  • Odds – The probability of winning a bet or wager. The odds are used to determine the payout for winning.
  • On tilt – Wild play or betting by a gambler who has lost a tough hand or bet.
  • Open – The first bet or bettor (Opener) in Poker games.
  • Outside Bets – Roulette bet that involves making bets outside the numbered area of the table, such as Red/Black or Odd/Even.
  • Overlay – A bet made when the player has the edge over the house.
  • Paint - The Jack, Queen or King in a deck of cards.
  • Palette – The flat paddle used in Baccarat to distribute and move the cards.
  • Pass – In card games this term is used when a player declines to bet or folds their hand.
  • Pat – In card games when a player no longer wants or requires any additional cards.
  • Payline – The line or lines that run across the slot machine indicating where the symbols must line up in order to get a payoff. Modern slots have numerous paylines.
  • Payoff – The resulting amount received for winning a bet or wager.
  • Payoff Odds – The amount paid for each winning bet, expressed in an amount or number of chips. Generally payoff odds are listed on the layout or on the face of a slot or video machine.
  • Payout Percentage – The programmed return of a slot or video machine. The percentage is 100% minus the house advantage.
  • Payout Table or Payoff Schedule – The list of payouts for each winning hand or combination based on the number of credits or coins played.
  • Pigeon – An unskilled or naïve gambler who generally loses.
  • Pit – The casino area where table games are situated. The central area of the pit is off-limits to players and is run by the Pit Boss.
  • Pit Boss – A supervisor of a group of gaming tables (Pit) who makes sure the games are being played properly and rules on player disputes and approves markers.
  • Pit Manager – A supervisor of a number of pits and Pit Bosses. Backs up the Pit Boss in any disputes, rule clarifications or player issues and approves comps for players.
  • Playing the Rush – Looser or more aggressive play by a card player who is on a winning streak and wants to capitalize on their streak.
  • Plug – The unused cards at the end of a card shoe. When a new set of decks are shuffled and inserted into the dealing shoe, a cut card is inserted to indicate the end of the deal. When the cut card is reached the remaining cards in the shoe (the Plug) plus the discards are reshuffled.
  • Pocket Cards – The cards that are dealt to the player face down.
  • Point (The Point) – The number that is established when playing Craps on the Come-out roll (the first roll by a new shooter or the first roll after a point has been made). Only the numbers 4,5,6,8,9, or 10 (Place numbers) can be the Point. Shooters must repeat the Point before throwing a 7 to win.
  • Poker – The general term for the type of games that are based on a series of five card combinations to determine the winning hand. There are three main types of Poker games: stud, draw and flop. Within these basic types are literally hundreds of variations. In casinos the games are usually fairly traditional with tables featuring Seven Card Stud, Omaha, Lowball, and of course, Texas Hold'em.
  • Pot – The amount of money that accumulates from antes, blinds and bets. The winner of a hand takes the pot.
  • Press a Bet – When the winnings from a current bet are added to the current bet. Also called Letting It Ride.
  • Pressing – Same as Press a Bet. Winnings from the previous bet are added to the wager. 
  • Probability – The likelihood a certain event will occur. Probability rules the world of gambling as each bet is based on a probability of something happening (a certain number on the dice coming up, a certain card turning, a combination of symbols on a slot wheel). Probability is expressed from 0 (impossible) to 1 (certain).
  • Progression Betting – A betting system where the bet is adjusted based on winning or losing a previous bet in order to take the player's intuition out of consideration.
  • Progressive – Refers to a type of slot or video machine jackpot that grows which accumulates based on how much a series of machines is played. Once the jackpot is hit the amount resets. With electronic hook-ups, Progressive jackpots can grow rapidly.
  • Pull Tab, Pulltab – A game of chance where perforated tickets reveal symbols like those found on a slot machine. Cash and sometimes prizes are provided for winning tickets.
  • Punch Board – A game in which one has to 'punch out' a slot or holes on a board to see if a prize or cash has been won.
  • PuntoBanco – A type of Baccarat where the cards are played according to a set of rules, so there is no player skill involved.
  • Push – A tie between the dealer and a player which most often means the player retains their bet.