Gambling Terms Explained: Casino & Sports Betting Glossary
Essential Gambling Terms: Everything You Need To Know
New to the gambling world and feeling lost in the lingo? No worries! It's easy to get overwhelmed, but as always, Rivalry has you covered.
Our ultimate gambling terms glossary breaks down all the common terms, jargon, slang, definitions, and abbreviations, from sports betting to online casinos. Whether you're a casual gambler or a professional bettor, this guide makes everything easy to understand—so you can bet with complete confidence on Rivalry. Let's get into it!
General Gambling Terms
Before getting into the nitty-gritty of sports betting terms, you'll need to know what the odds mean. More just confusing numbers on the screen, odds represent the likelihood of your wagers hitting or missing.
On Rivalry or other online sports betting sites, you may encounter different formats for your odds on display. The "big three" are American Odds, European Odds, and British Odds. We've broken them down below, including an example of how they work.
| Odds Format | Example | How It Works | Likelihood & Payouts | Payout on a $100 Bet |
|---|---|---|---|---|
| American Odds (+/- format) | -150 / +200 | Negative (-) odds: How much you need to bet to win $100. | A lower negative number (-150) is more likely to win with a smaller payout. | -150 = $166.67 (incl. stake) |
| European Odds (aka Decimal Odds) | 1.50 / 3.00 | Represents the total return per $1 bet, including stake. | Lower decimals (e.g., 1.50) indicates the favorite, with a lower payout. | 1.50 → $150 |
| British Odds (aka Fractional Odds) | 1/2 / 5/1 | The first number represents profit, the second is the bet amount. E.g., 1/2 = Bet $2 to win $1. | Smaller fractions (1/2) are more likely, with lower payouts. | 1/2 → $150 |
Now that's out of the way, here are the basic 101 betting terms you'll need to know when you register for an online betting site like Rivalry.
Understanding this gambling terminology is crucial to getting the most out of your wagers and making more informed decisions, so get your notepad out and start memorizing.
- Action: The total amount of money wagered on a particular game or event. If a player has "a lot of action," they have placed many bets.
- Bankroll: The total money a player has set aside for gambling. Managing your bankroll is the golden rule of all responsible gambling.
- Betting Limit: The minimum and maximum bet a player can wager on a game.
- Buy Points: Some bookies allow bettors to "buy points" to adjust the betting line and odds. For example, moving a 2.5-point underdog to +3 by purchasing half a point.
- Cash Out: When you withdraw your winnings from a casino or betting site to your bank account.
- Handle: The total amount of money bet.
- High Roller: A high-stakes gambler places large bets.
- House Edge: The mathematical advantage the casino or bookmaker has over the player in any game.
- Payout: The amount of money you receive on a winning wager.
- Odds: A numerical representation of the probability of an outcome happening. These are often represented as decimal odds, fractional odds, or percentages.
- On Tilt: A bettor or player who reacts poorly to a losing bet and begins acting recklessly.
- Wager or Stake: The bet or amount placed on sporting events or gambling games.Esports and Sports Betting Terms
Esports & Sports Betting Terms
These sports betting terms are used across various sporting events, like horse racing, basketball, football—you name it! These also apply to esports events like League of Legends, DOTA 2, and more games not mentioned here.
- Bad Beat: Losing a bet that looked likely to win. Better luck next time, chief.
- Bookie or Bookmakers: Short for sportsbook.
- Closing Line: The final line before the game or event kicks off.
- Even Money: A bet offering 1:1 odds when you win. In other wises, the bet pays the same as your original bet.
- Futures: A long-term wager, typically on who will win a particular event or game outright.
- Halftime Bet: A bet made after the first half ends and before the second half begins, typically seen in a basketball or football game.
- Hedging: Betting on the opposite side of your original bet to reduce potential losses, typically on futures bets for risk management.
- Hook: A half-point.
- Live Betting (In-Play Betting): Placing bets while the action is happening, with odds that change in real-time to reflect the current game status.
- Moneyline: A simple bet on which team will win, without point spreads. These odds are usually displayed as positive or negative numbers.
- Over/Under: Aka totals. This describes a variety of betting lines, like the total number of points scored, number of games won, rounds, etc. It's also used in prop betting.
- Parlay: Parlay betting refers to when multiple betting markets in the same game are combined into one single wager. All outcomes must be correct to score a winning payout.
- Pick em: A game with no favorite or underdog; the point spread is zero.
- Point Spread: Aka spread or handicap betting, this refers to the number of points by which the favorite team is favored over the underdog.
- Prop Betting: Props, or proposition bets, are a category of wagers that extend beyond spread/total/money-line bets, typically seen in major events or leagues like the Super Bowl or NBA.
- Straight Bet: A single bet placed on moneyline, point spread, or game total betting options.
- Teaser: Betting on multiple teams and adjusting the point spread in the bettor's favor.
- Underdog: The underrated team, individual, or player that has higher odds to win.
General Casino Terms
When you step into a casino—whether online or in person—you'll encounter a whole new set of terms related to popular casino games like blackjack, roulette, and slot machines and loads of other games.
Knowing all these casino-specific terms can help you navigate live dealer games, understand slot machines, and make more informed decisions overall. Let's explore the essential casino terms every gambler should know before depositing.
- Dealer or Host: The trained professional who runs the game, deals cards, and interacts with the players, either in live online casino games or at land-based casinos.
- Bonus Hunting: A strategy where players take advantage of casino bonuses, free spins, and promotions to maximize their profits.
- Croupier: The French way of saying "casino dealer," typically relating to Roulette. Very fancy.
- Gambler's Fallacy: The belief that past results affect future outcomes with games of chance. For example, thinking the roulette wheel is due to land on red after several black numbers in a row.
- Fixed Odds: The chances of winning and payouts are fixed ahead of time.
- Jackpot: The highest possible payout in a game, often associated with slot machines and progressive games where the prize increases over time.
- RNG (Random Number Generator): Refers to a computer algorithm used in some online casino games, guaranteeing unpredictable but fair outcomes.
- RTP (Return-to-Player): The RTP percentage indicates how much a casino game theoretically pays back to players over time.
- Volatility (or Variance): How often and how much a game pays out. For example, high-volatility slot games have fewer but larger payouts. In contrast, low-volatility games pay out often but in smaller amounts.
Blackjack Terms
Blackjack is a complex card game where every move—Hit, Stand, Split, or Double Down—can make or break your chances of winning. But what do they really mean?
Here's a breakdown of every decision you can make in Blackjack and how it affects your game. Play your cards right, and you could walk away with a jackpot.
| Term | Definition |
|---|---|
| Hit | Drawing an additional card to increase your hand's value. |
| Stand | Keeping your current hand without taking an extra card. |
| Split | If you're dealt two additional cards (e.g., two 8s), you can split into two hands. |
| Bust | When your hand exceeds a total of 21, meaning an automatically losing bet. |
| Double Down | Doubling your initial bet in exchange for receiving only one more card. |
| Surrender | Fold the hand before playing, forfeiting half of the bet instead of losing everything. |
Aside from these decisions, there are some other important Blackjack terms you need to be aware of when you play Blackjack online or at a brick-and-mortar casino somewhere like Las Vegas:
- Bust: Having a total over 21.
- Upcard: The card that the dealer is showing.
- Hole Card: A dealer card that's dealt face down and not revealed until you've made a decision.
- Shoe: A device that holds multiple decks of cards.
- Insurance: A side bet offered when the dealer shows an Ace, protecting against a dealer's blackjack.
- Natural: When your first two cards total 21, made up of an Ace and 10-value card (10, Jack, King, or Queen) for an automatic win.
- Push: Essentially a tie, when you and the dealer both have hands with the same total without busting.
- Soft Hand: A hand containing an Ace that can be counted as either 1 or 11 without busting.
- Hard Hand: A hand that does not have an Ace counted as 11.
- CSM: Continuous Shuffling Machine, sometimes used in Live Blackjack games.
Roulette Terms
Roulette is a pretty straightforward table game, whether you're playing European Roulette, which has a single 0, or American Roulette, which has an extra double 00.
It's just you, the host, and the spinning wheel, where you must correctly predict the end result to win at Roulette. Its complexity lies in the types of bets available, which can be confusing for newer players.
We have split these between Inside Bets and Outside Bets for your convenience.
Inside Bets
Inside Bets refer to wagers placed on a specific number or group of numbers in Roulette. The odds are higher since you're honed in on specific numbers. But with a higher risk comes greater rewards, with a more substantial payout if you guess correctly.
Here are the types of Inside Bets available in Roulette.
| Bet Type | Description |
|---|---|
| Straight Bet | Placed on a single number with a 35:1 payout. |
| Split Bet | Covers two adjacent numbers, with a 17:1 payout. |
| Street Bet | Includes three numbers in a row, with a 17:1 payout. |
| Corner Bet or Square Bet | Covers a block of four numbers, typically in a square formation and pays 8:1. |
| Six Line | Bet on two rows of four numbers, with a payout of 5:1. |
Outside Bets
Outside Bets in Roulette cover a broader range of categories, like Odd/Even, Red/Black, etc. These have a higher chance of winning, but of course, lower payouts.
| Bet Type | Description |
|---|---|
| Red or Black | Exactly what it says on the tin: choose between red or black for an even money payout (1:1). |
| Odd or Even | Similar to Red/Black, bet on whether the winning number will be odd or even for an even money payout (1:1). |
| High or Low | Pays out as an even money wager with 1:1 odds, on whether the outcome will be between 1–18 or 19–36. |
| Dozen Bets | Covers one of three groups of numbers: 1-12, 13-24, or 25-36 with a 2:1 payout. |
| Column Bets | Bet on one of the three columns of 12 numbers with a 2:1 payout. |
Slot Machine Terms
Rivalry has hundreds of online slots available, covering every genre and theme—from Megaways slots to festive Christmas and Halloween slots. Whether you prefer slots with bonus features and free spins or cascading reels and progressive jackpots, Rivalry has something for every type of player, including popular titles like Gates of Olympus, Fortune Tiger, and Sweet Bonanza.
As you spin the reels, you may encounter unfamiliar terms and features. Here's a breakdown of the most common slot machine lingo.
| Bet Type | Description |
|---|---|
| Reels | The vertical spinning sections of a slot machine that contain symbols. |
| Rows | The horizontal lines of a slot machine where symbols appear. |
| Payline | A line on a slot machine where matching symbols must land to create a winning combination, often horizontal, vertical, or diagonal. |
| Progressive Jackpot | Jackpots that increases every time a bet is placed until someone wins. |
| Multipliers | A feature or symbol that increases winnings by a certain amount, like 2x, 10x, etc. |
| Wild Symbol | A special symbol that substitutes for other symbols on the paytable. |
| Scatter Symbol | A specific symbol that often triggers free spins or bonus rounds when matched with three or more. |
| Bonus Round | Often involves free spins, bonus multipliers, or mini-games, triggered by scatters. |
Conclusion
Online gambling comes with its own language, and understanding all the key terms can make a huge difference to how you play. Whether you're at a land-based casino, betting online, or playing in a casino tournament, knowing all the lingo can help you make bigger-brain bets and choices.
📌 Casino Basics: Understand the RTP, house edge, and other basic betting terms before depositing.
⚽ Sports Betting: Learn about point spreads, moneylines, and parlay betting to maximize your gains.
🎰 Online Slots & Casino Games: Paylines, multipliers, RNG, and specific bets can all influence your strategies.
The more you know, the better your casino experience will be. Consider this article as your holy grail to understanding casino and betting terms. Create a Rivalry account today to put your newfound knowledge to the test and win big, whether you're sports betting or playing casino games. Always play responsibly and contact our support team with any queries. GL HF!
