Poker & Gambling Glossary

The standard form of poker in card rooms and tournaments. Each player gets two private cards, five shared cards are dealt face up in stages, and the best five-card hand made from any of those seven cards wins, unless everyone else folds first.

At the Poker Table See also: Hole cards, Community cards, Preflop, flop, turn and river, Hand rankings

Your private, face-down cards: two in Texas hold'em. A pair dealt as hole cards is a pocket pair; two cards of the same suit are suited, two of different suits offsuit.

At the Poker Table See also: Community cards, Texas hold'em

The face-up cards in the middle of the table that every player can use, five in hold'em, together called the board. Ultimate Texas Hold'em uses the same board, played against the dealer.

At the Poker Table See also: Preflop, flop, turn and river, Hole cards, Play bet (Ultimate Texas Hold'em)

Forced bets posted before the deal by the two players to the left of the button: the small blind and the big blind, usually twice as large. They seed the pot so every hand has something to play for.

At the Poker Table See also: Ante, Button, Position

A forced bet posted before the deal on top of the blinds, by every player or, in many tournaments, by the big blind for the whole table; common in later tournament stages. In casino carnival games the ante is your main bet against the dealer.

At the Poker Table See also: Blinds, Ante and Blind (Ultimate Texas Hold'em), Ante and Play (Three Card Poker)

A disc marking the player in the dealer's position for the hand; it moves one seat to the left after every hand. The button acts last on every betting round after the flop, which makes it the best seat at the table.

At the Poker Table See also: Position, Blinds

Where you sit relative to the button, which sets the order of action. Acting later is an advantage: you see what others do first. Under the gun, left of the big blind, acts first before the flop; the cutoff sits just right of the button.

At the Poker Table See also: Button, Blinds

The four betting rounds of hold'em, called streets. Preflop follows the deal of the hole cards; the flop puts three board cards out at once; the turn adds a fourth and the river the fifth and last, each followed by a round of betting.

At the Poker Table See also: Community cards, Showdown

The five things a player can do when it is their turn: check, bet, call, raise or fold. Which ones are open depends on whether anyone has bet yet in the round.

At the Poker Table See also: Check, Bet, Call, Raise, Fold

Pass without betting and keep your cards, allowed only while no one has bet in the round. Before the flop the blinds count as bets, so only the big blind can check, and only if no one raised.

At the Poker Table See also: Blinds, Bet, Call, Betting actions

Put chips in first in a betting round; before the flop the big blind counts as that bet. Everyone after you must then call, raise or fold.

At the Poker Table See also: Check, Raise, Value bet, Bluff

Match the current bet to stay in the hand.

At the Poker Table See also: Pot odds, Raise, Fold

Increase the current bet, so the others must match the new amount to stay in. Bets are counted in order, so a re-raise of the first raise is a 3-bet; before the flop the big blind counts as the first bet.

At the Poker Table See also: Bet, Call, String bet, Fold equity

Give up the hand and any chips already in the pot; the cards go into the muck, the pile of discards.

At the Poker Table See also: Fold equity, Call, Betting actions

Betting every chip you have on the table, which no-limit games allow at any time. A player who is all-in can't be forced out of the hand and can win from each opponent only as much as they put in themselves.

At the Poker Table See also: Side pot, Fold equity

A separate pot built from bets an all-in player can't match. The all-in player competes only for the main pot; the players with chips left play for the side pot among themselves.

ExampleAnn is all-in for $50; Ben and Cal put in $200 each. The main pot is $150; the $300 side pot goes to Ben or Cal.

At the Poker Table See also: All-in, Showdown

The end of a hand when two or more players remain after the last betting round: the hands are turned face up and the best one takes the pot.

At the Poker Table See also: Hand rankings, Kicker

The order of five-card poker hands, highest first: royal flush, straight flush, four of a kind, full house, flush, straight, three of a kind, two pair, one pair, high card. The rarer the hand, the higher it ranks.

At the Poker Table See also: Kicker, The nuts, Ante and Play (Three Card Poker)

A side card outside a hand's pair, two pair, trips or quads that still counts in the best five cards. Kickers break ties between hands of the same rank, highest first.

ExampleTwo players each make a pair of kings. The one holding an ace beside it beats the one holding a queen; the ace is the kicker.

At the Poker Table See also: Hand rankings, Showdown

Poker played for the chips on the table, which stand for real money. Players can buy in, top up and leave whenever they like, and the blinds stay fixed.

At the Poker Table See also: Tournament, Rake

Players pay a fixed entry and get tournament chips with no cash value. Blinds rise on a schedule, players who lose their chips are out, and the prize pool is paid to the top finishers.

At the Poker Table See also: ICM (Independent Chip Model), Cash game, Ante

The card room's fee for running a poker game: a cut of each pot, a charge per hour, or part of a tournament entry. The house has no edge against poker players; the rake is how it gets paid.

In the marketAn exchange fee: it doesn't care who wins, it charges every trade, and it is the hurdle a small edge has to clear.

At the Poker Table See also: Cash game, House edge

The unseen cards that would turn your hand into one that probably wins. A hand that needs one of them is a draw.

ExampleYou hold four hearts after the flop. Nine hearts remain unseen, so the flush draw has nine outs.

Strategy and Math See also: Rule of 2 and 4, Equity, Semi-bluff

A quick estimate of the chance of hitting one of your outs: multiply the outs by 4 when you will see two more cards, or by 2 when you will see one.

FormulaChance ≈ outs × 4 (two cards to come) or outs × 2 (one card to come)

ExampleNine outs on the flop: 9 × 4 ≈ 36% to hit by the river. The exact figure is 35%.

Strategy and Math See also: Outs, Pot odds

The price the pot offers on a call: what you stand to win against what it costs. A call pays over time when your chance of winning is higher than your call's share of the final pot.

FormulaBreak-even chance = your call ÷ (pot + their bet + your call)

ExampleThe pot is $100 and your opponent bets $50. You call $50 to win $150, 3 to 1, so you need to win at least 25% of the time.

In the marketA hurdle rate: the return an investment must clear to justify its cost.

Strategy and Math See also: Implied odds, Equity, Rule of 2 and 4

Pot odds plus the money you expect to win on later streets if you hit. A call that is too expensive on today's pot can still pay if a made hand will get paid off later.

Strategy and Math See also: Pot odds, Outs

Your share of the pot on average: the chance your hand wins, counting split pots as part-wins, if all the remaining cards were dealt with no more betting.

ExampleA flush draw with nine clean outs and one card to come wins 9 times in 46: about 20% equity against a made hand.

Strategy and Math See also: Expected value (EV), Fold equity, Outs

The average result of a decision if it could be repeated many times: each outcome times its probability, added up. +EV means a profit on average, −EV a loss; any single result can go either way.

FormulaEV = Σ (probability of outcome × payoff)

ExampleA coin flip that wins $11 on heads and loses $10 on tails: 0.5 × $11 − 0.5 × $10 = +$0.50 a flip.

In the marketExpected return. Over one year or one hand, most of what you see is luck; over many, the expectation is what's left.

Strategy and Math See also: Equity, House edge, Variance

The full set of hands an opponent could hold given their actions so far, instead of a single guess. Good players also weigh their own range: how their action looks across every hand they would play the same way.

In the marketThinking in distributions, not point estimates.

Strategy and Math See also: Game theory optimal (GTO), Bluff

A bet or raise with a weak hand that wins only if opponents fold. A bluff that succeeds often enough to cover the times it is called is profitable.

Strategy and Math See also: Semi-bluff, Fold equity, Value bet

A bet with a draw: a hand that is probably behind now but has outs to become the best. It can win at once if opponents fold, or later if the draw comes in.

Strategy and Math See also: Bluff, Outs, Fold equity

A bet made to be called by worse hands, where a bluff hopes better hands fold. The skill is in the size: as large as a worse hand will still call.

Strategy and Math See also: Bluff, Range

A bet on the flop by the player who made the last raise before it, continuing to represent a strong hand whether or not the flop helped.

Strategy and Math See also: Bet, Bluff, Fold equity

The part of a bet's value that comes from the chance opponents fold. A semi-bluff earns from both: its fold equity now and its equity when called.

FormulaEV of a bet = (chance they fold × pot) + (chance they call × EV when called)

Strategy and Math See also: Semi-bluff, Equity, Bluff

A strategy no opponent can profit against by changing their own play, approximated in practice by solver software. It doesn't try to exploit anyone; it makes sure no one can exploit you.

In the marketAn efficient market: you earn from other people's mistakes, not from beating a fair price.

Strategy and Math See also: Exploitative play, Range

Departing from balanced play to profit from one opponent's habits: bluffing a player who folds too often, value betting one who calls too much. It earns more against weak players and leaves you open to being exploited back.

In the marketTrading a known mispricing: it pays until the other side adjusts.

Strategy and Math See also: Game theory optimal (GTO), Fish

A model that converts tournament chip stacks into shares of the prize pool. Because prizes are paid in steps, the chips you could lose are worth more than the chips you could win, so near the prizes players should risk fewer of them.

In the marketDiminishing marginal utility of money, made into a formula.

Strategy and Math See also: Tournament, Expected value (EV)

How many hands, bets or sessions a result rests on. Poker is noisy enough that a winning month says little about skill; it takes a very large number of hands for an edge to show through the luck.

In the marketJudging a fund manager on one good year.

Strategy and Math See also: Variance, Law of large numbers, Run good and run bad

The share of each bet the casino keeps on average over the long run, built in by paying winners less than the true odds. It is the price of the game, quoted on the amount first bet unless stated otherwise.

FormulaHouse edge = −(expected value of the bet ÷ amount bet)

ExampleOn a double-zero roulette wheel the edge is 5.26%: $100 a spin costs $5.26 a spin on average, though each spin wins or loses outright.

In the marketAn expense ratio: small, certain and charged on every bet, whatever the result.

The Numbers Behind Every Casino Game See also: True odds vs payout odds, Return to player (RTP), Element of risk, Cost per hour

The house edge measured against all the money a player puts at risk in a round, not just the first bet. Games where you add money mid-hand quote both figures, and both are true.

ExampleUltimate Texas Hold'em: 2.19% of the ante, but 0.53% of all money bet, since an average hand ends with about 4.15 antes on the table.

The Numbers Behind Every Casino Game See also: House edge, Play bet (Ultimate Texas Hold'em), Ante and Play (Three Card Poker)

The share of money bet that a game pays back over the long run: 100% minus the house edge. Video poker and slots are quoted this way.

FormulaRTP = 100% − house edge

Example9/6 Jacks or Better returns 99.54% with perfect play: a 0.46% house edge.

The Numbers Behind Every Casino Game See also: House edge, Hold, 9/6

True odds are the real chance of a result, as ways to lose against ways to win; payout odds are what the casino pays. The house edge lives in the gap. “5 to 1” returns your bet plus five; “5 for 1”, five in all.

ExampleA single number on a double-zero wheel: 37 ways to lose, 1 to win, so the true odds are 37 to 1. It pays 35 to 1.

The Numbers Behind Every Casino Game See also: House edge, Free odds, Inside bets

A fee taken out of a bet or its winnings, instead of being built into the payout. Craps buy and lay bets and the baccarat Banker bet charge a 5% commission; in sports betting the word means the bookmaker's margin.

In the marketA broker's commission: charged on the trade, whoever turns out to be right.

The Numbers Behind Every Casino Game See also: Buy bet, Lay bet, Banker

How widely results scatter around the expected value. High variance means long winning and losing streaks around the same average; it is why a losing game can pay out for a night and a winning one can lose for a month.

In the marketVolatility. Over a short horizon the noise swamps the drift; over a long one the drift wins.

The Numbers Behind Every Casino Game See also: Standard deviation, Volatility, Run good and run bad

Variance in money terms: the typical distance between a result and its expected value. The simulators on The Tables show it per bet, in units, and for the whole session.

FormulaSession SD = SD per bet × √(number of bets)

Example100 even-money bets with an SD of about 1 unit each: session SD ≈ 1 × √100 = 10 units, while the expected loss grows with every bet.

In the marketThe same math as scaling volatility with the square root of time.

The Numbers Behind Every Casino Game See also: Variance, Law of large numbers, Bankroll

How a game's payback is spread across its outcomes. A low-volatility game returns small amounts often; a high-volatility one holds much of its return in rare large hits, so long dry spells are normal.

ExampleAbout 2% of Jacks or Better's return is the royal flush, which shows up roughly once every 40,000 hands.

The Numbers Behind Every Casino Game See also: Variance, Hit frequency, Progressive jackpot

The share of plays that return anything at all. It says how often a game pays, not how much; on a multi-line slot many hits pay back less than the bet.

In the marketWin rate versus payoff: a strategy can be right most of the time and still lose money.

The Numbers Behind Every Casino Game See also: Losses disguised as wins, Volatility, Return to player (RTP)

The chance of losing an entire bankroll before reaching a goal or the end of play. It rises with the house edge, with the game's variance and with the size of each bet relative to the bankroll.

In the marketA trader's blowup risk, and the reason position size matters as much as edge.

The Numbers Behind Every Casino Game See also: Bankroll, Variance, Betting system

Money set aside for gambling, apart from money needed for anything else. Measured in units, a player's standard bet, it decides how long the swings can be absorbed. The simulators count results in units and convert at the unit you enter.

In the marketRisk capital. Sizing each bet against it is position sizing; the Kelly criterion is the formal version.

The Numbers Behind Every Casino Game See also: Risk of ruin, Drawdown, Standard deviation

What a game costs in expectation for an hour of play: the house edge times the bet times the decisions per hour. Speed is a hidden multiplier, so pace matters as much as edge.

FormulaCost per hour = house edge × bet × decisions per hour

ExampleSlots: $2.50 a spin × 600 spins × 10% = $150 an hour. Blackjack: $25 a hand × 70 hands × 0.5% ≈ $9.

In the marketA low fee charged on high turnover can cost more than a high fee charged rarely.

The Numbers Behind Every Casino Game See also: House edge, Mini-baccarat, Penetration

The printed schedule of what each result pays. On video poker and side bets it sets the house edge, so two games that look identical can differ by several percentage points.

ExampleThree Card Poker's Pair Plus paying 4 to 1 on a flush (40-30-6-4-1) costs 2.32%; paying 3 to 1, it costs 7.28%.

In the marketA fee schedule, to be read like a fund's.

The Numbers Behind Every Casino Game See also: Full pay, Pair Plus, Side bet

Over many independent bets, the average result per bet settles toward its expected value. It is why the house edge is invisible in one night and certain for the casino, which books millions of bets. The simulators show how many bets that takes.

FormulaBets until the edge is undeniable ≈ (1.96 × SD per bet ÷ house edge)²

In the marketWhy a fund's fee is invisible in a week and unmistakable over a decade.

The Numbers Behind Every Casino Game See also: Standard deviation, Gambler's fallacy, Sample size

The belief that past independent results change the next one: that red is due after a run of black, that a hot shooter will keep making points, or that a baccarat scorecard shows a pattern. Dice, wheels and RNGs have no memory.

The Numbers Behind Every Casino Game See also: Law of large numbers, Betting system, Random number generator (RNG)

Rewards a casino gives players based on how much they bet: points, cash-back, meals, rooms. They are a partial rebate on expected losses, not winnings; on video poker they are often worth more than the house edge itself.

The Numbers Behind Every Casino Game See also: Advantage play, Whale, Video poker

A tie between player and dealer: the bet is returned, neither won nor lost.

The Numbers Behind Every Casino Game See also: Push 22, Dealer qualifies

An optional extra wager beside the main bet, paid from its own paytable. Side bets usually carry a higher house edge than the game they are attached to, often several times higher.

ExampleBlackjack's Lucky Ladies runs about 17–25%, against about 0.5% for the main game played to the chart.

The Numbers Behind Every Casino Game See also: Blackjack side bets, Trips, Pair Plus

A rule for changing bet size based on past results, such as Martingale: double after every loss. No sequence of bets on a negative-edge game produces a positive edge; the table maximum makes sure the rare catastrophe arrives.

ExampleMartingale on a 5.26% wheel is still a 5.26% game, now with a small chance of a very large loss.

In the marketDoubling down on a losing position: the average doesn't move, the tail gets fatter.

The Numbers Behind Every Casino Game See also: Gambler's fallacy, Risk of ruin, House edge

Methods that turn a game to a player edge by exploiting how it is run: card counting, hole-carding, full-pay video poker with cash-back, progressives near their ceiling. Most casinos can refuse such players: back them off the game, cap their bets or bar them.

In the marketAn arbitrage: real, small, and closed as soon as the other side notices.

The Numbers Behind Every Casino Game See also: Card counting, Hole-carding, Progressive jackpot, Edge sorting

The largest drop from a high point to a later low within a session: how deep a bankroll sinks before it recovers or play ends. Our simulators report it for a typical session and the size 1 session in 20 reaches or exceeds.

In the marketThe same measure as a portfolio's peak-to-trough decline.

The Numbers Behind Every Casino Game See also: Bankroll, Variance, Risk of ruin

An ace and a ten-value card as your first two cards: a two-card 21. It beats any other 21 and traditionally pays 3 to 2.

Blackjack See also: 3:2 vs 6:5, Even money, Basic strategy

The two basic choices: hit takes another card, stand keeps your total and ends your turn. The dealer has no choices; they follow the rule printed on the felt.

Blackjack See also: Bust, S17 and H17, Basic strategy

Going over 21, which loses at once. A player who busts loses even if the dealer busts afterward: that asymmetry is worth about 8% to the house before the player's options claw most of it back.

Blackjack See also: Hit and stand, Soft and hard hands, Push 22

Doubling your bet in exchange for exactly one more card. The chart doubles where the player is the favorite, such as 11 against a dealer 6.

Blackjack See also: Split, DAS and RSA, Basic strategy

Turning a starting pair into two separate hands, each with its own bet equal to the first. Each hand gets a second card and is played on its own.

Blackjack See also: DAS and RSA, Double down

Giving up a hand after the first two cards and getting half the bet back. Late surrender, the usual form, is allowed only after the dealer has checked for blackjack.

ExampleBasic strategy surrenders hard 16 and 15 against a dealer 10 where it is offered: losing half is the better outcome on average.

Blackjack See also: Basic strategy, Upcard, Index plays

A side bet, offered when the dealer shows an ace, that the hidden card is a ten. It pays 2 to 1 on up to half your bet, on roughly a 9-to-4 shot: about a 7.4% house edge in a six-deck game.

Blackjack See also: Even money, Index plays, Upcard

Any 1-to-1 payout. In blackjack, the offer to take 1 to 1 on your blackjack when the dealer shows an ace, instead of 3 to 2 with the risk of a push: the same bet as insurance, at the same cost.

Blackjack See also: Insurance, Blackjack (natural), Outside bets

A soft hand counts an ace as 11 and can't bust on the next card, such as ace-6, a soft 17. Every other hand is hard. A hard 12 to 16 is a stiff: one more card can bust it.

Blackjack See also: S17 and H17, Bust, Basic strategy

The dealer's face-up card; the other, face down, is the hole card. With an ace or a ten showing, the dealer in most games checks the hole card for blackjack, the peek, before the players act.

Blackjack See also: Basic strategy, Insurance, Double Exposure

What a natural pays. At 3 to 2 a $10 bet wins $15; at 6 to 5 it wins $12. The smaller payout adds about 1.4% to the house edge, roughly tripling the cost of the game.

In the marketA fee increase in the small print: same product, about three times the price.

Blackjack See also: Blackjack (natural), House edge, Even money

Whether the dealer stands on a soft 17 (S17) or hits it (H17); the felt says which. Hitting soft 17 adds about 0.22% to the house edge.

Blackjack See also: Soft and hard hands, Basic strategy

Rule abbreviations for splits. DAS allows a double on a hand created by a split; without it the house edge rises by about 0.14%. RSA lets a player who splits aces and catches another ace split again.

Blackjack See also: Split, Double down, Spanish 21

The box several decks are dealt from, typically six to eight in blackjack and eight in baccarat. Fewer decks favor the player slightly, but rules matter more: a single-deck game paying 6 to 5 is worse than an eight-deck game paying 3 to 2.

Blackjack See also: Penetration, 3:2 vs 6:5

How far into the shoe the dealer deals before reshuffling, marked by a cut card. Deep penetration helps counters. A continuous shuffling machine returns cards after every round, ending counting and speeding play by about 20%, which costs 20% more per hour.

ExampleThe Blackjack Trainer offers 50% to 85%. At 75% of a six-deck shoe, 4.5 decks are dealt before the shuffle.

Blackjack See also: Shoe, Card counting, Cost per hour

The mathematically best play for every player hand against every dealer upcard, given the table's rules. Played perfectly it leaves a house edge of roughly half a percent. Printed strategy cards are allowed at the table.

Blackjack See also: Index plays, House edge, Upcard

Tracking dealt cards to know when the rest of the shoe is rich in tens and aces, which favors the player, and betting more then. Hi-Lo counts 2–6 as +1, tens and aces as −1. Legal without a device; most casinos can still bar counters.

ExampleAgainst a good game, a skilled counter's edge is about 0.5–1.5%, with large swings.

Blackjack See also: True count, Index plays, Penetration, Advantage play

The running count (the total of the count values of every card seen since the shuffle) divided by the decks left to deal. It measures how rich the rest of the shoe is in tens and aces, and drives a counter's bets and strategy changes.

FormulaTrue count = running count ÷ decks remaining

ExampleRunning count +6 with three decks left: +2. With one deck left: +6. Each point is worth roughly half a percent of edge.

Blackjack See also: Card counting, Index plays, Penetration

Departures from basic strategy at set true counts, such as standing on 16 against a 10 at a true count of 0 or higher. The Illustrious 18 and the Fab 4 surrenders capture most of the count's playing value; insurance is the most valuable one.

Blackjack See also: True count, Basic strategy, Insurance

Optional bets on the first cards dealt. 21+3 pays when your two cards and the dealer's upcard make a flush, straight, three of a kind or straight flush; Perfect Pairs pays on a first-two-card pair; Lucky Ladies on a two-card 20.

ExampleTypical paytables: 21+3 about 3–7%, Perfect Pairs 6–11%, Lucky Ladies 17–25%, against about 0.5% for the main game.

Blackjack See also: Side bet, Paytable

The rule behind Free Bet Blackjack and Blackjack Switch: a dealer total of 22 ties every player hand still standing instead of busting. It is worth about 7% to the house before the games' gifts buy most of it back, and it changes the strategy.

ExampleFree Bet's Push 22 side bet, a wager on that dealer 22, costs 11.76%.

Blackjack See also: Free Bet Blackjack, Blackjack Switch, Bust

The house funds free doubles on hard 9, 10 or 11 and free splits of any pair but tens, marked with a lammer: a win is paid on it, a loss costs only your own bet. The price is push 22. House edge 1.04%.

Blackjack See also: Push 22, Double down, Split

Two hands of equal size, with the right to swap their second cards. A blackjack pays even money, one made by switching counts as 21, and a dealer 22 pushes. House edge 0.58% with the full switching strategy, about 0.75% with the simple rule.

Blackjack See also: Push 22, Even money

Blackjack with the four tens removed from each deck (face cards stay), worth about 2% to the house, given back through rules and bonuses: player 21 always wins, late surrender, doubling on any number of cards. House edge 0.40% with S17.

Blackjack See also: DAS and RSA, S17 and H17, Basic strategy

Both dealer cards are dealt face up. In return the dealer wins ties except blackjack against blackjack, blackjack pays even money, and doubling and splitting are usually restricted. The edge runs from 0.26% to 1.47% depending on the posted rules.

Blackjack See also: Upcard, Even money

Usually single deck, with many gifts, such as surrender after doubling and an automatic win for six cards totaling 20 or less, paid for by one rule: blackjack pays even money, except in diamonds, where it pays 2 to 1. House edge 1.16% single deck.

Blackjack See also: 3:2 vs 6:5, Even money

The first seat to the dealer's left, which acts first, and the last seat, which acts just before the dealer. Where you sit doesn't change your odds, and neither does how anyone else at the table plays.

Blackjack See also: Basic strategy, Hole-carding

The player throwing the dice. The dice pass to the next player when the shooter sevens out.

Craps See also: Come-out roll, Seven-out

The first roll of a new round. For pass-line bets, a 7 or 11 (a natural) wins, a 2, 3 or 12 (craps) loses, and any other number becomes the point.

Craps See also: Point, Pass line, Don't pass

The number, 4, 5, 6, 8, 9 or 10, set by the come-out roll. The shooter keeps rolling until the point repeats, which wins for the pass line, or a 7 shows, which ends the round.

Craps See also: Come-out roll, Seven-out, Free odds

The bet with the shooter: wins on a come-out 7 or 11 or a made point; loses on a come-out 2, 3 or 12 or a 7 before the point. It can't be removed once a point is set. House edge 1.41%.

Craps See also: Don't pass, Free odds, Come and don't come

The bet against the shooter: on the come-out, 2 or 3 wins, 12 pushes (the bar 12), and 7 or 11 loses; after that it wins if a 7 comes before the point. House edge 1.36%, slightly better than pass and unpopular at the table.

Craps See also: Pass line, Come and don't come, Free odds

Pass and don't pass bets made after the point is set. The next roll is the bet's own come-out, and any point number moves it to that number. Same edges as their line bets: 1.41% for come, 1.36% for don't come.

Craps See also: Pass line, Don't pass, Free odds

An extra bet behind a pass, come, don't pass or don't come bet once it has a number, paid at true odds: the only bet in the casino with no house edge. Tables cap it at a multiple of the line bet, such as 3-4-5x.

ExampleThe pass line alone costs 1.41%; with full 3-4-5x odds behind it, the edge on all the money bet falls to 0.37%.

In the marketA fee-free add-on sold only with a product that carries a fee.

Craps See also: True odds vs payout odds, Pass line, Point

A bet that a chosen number rolls before a 7, with no come-out needed. It pays less than true odds; 6 and 8 pay 7 to 6, so they go down in multiples of $6.

ExampleEdge 1.52% on 6 or 8, 4.00% on 5 or 9, 6.67% on 4 or 10.

Craps See also: Buy bet, Big 6 and Big 8, Working and off

A place bet paid at true odds, less a 5% commission charged either when it wins or when the bet goes down. Buying the 4 or 10 with the commission taken only on a win costs 1.67%.

Craps See also: Place bet, Vig, Lay bet

A bet that a 7 rolls before a chosen number, paid at true odds less 5% of the win. It works on every roll. Laying the 4 or 10 costs 2.44% when the commission is charged up front.

Craps See also: Buy bet, Vig, Don't pass

A one-roll bet that wins on 2, 3, 4, 9, 10, 11 or 12 and loses on 5, 6, 7 or 8. Seven numbers win, but the four losers come up 20 times in 36.

ExampleEdge 5.56% when 2 and 12 pay double; 2.78% when 12 pays triple.

Craps See also: Proposition bets, House edge

A bet that 4, 6, 8 or 10 rolls as a pair, such as 3 + 3 for hard 6, before it rolls any other way (the easy way) or a 7 shows.

ExampleEdge 9.09% on hard 6 or 8, 11.11% on hard 4 or 10.

Craps See also: Proposition bets, Working and off

A bet that 6 (or 8) rolls before a 7, paid even money. It is the same event as a place bet on 6 or 8, which pays 7 to 6, so it costs 9.09% against 1.52%.

Craps See also: Place bet, True odds vs payout odds

Long-shot bets in the middle of the layout, mostly settled in one roll: any seven, any craps (2, 3 or 12), a single 2, 3, 11 or 12, and bundles such as the horn (2, 3, 11, 12) and C and E (craps and eleven).

ExampleEdges run from 11.11% on any craps to 16.67% on any seven, a 1-in-6 shot paid 4 to 1: the worst common bet on a casino table.

Craps See also: Hardways, Field, Side bet

A 7 rolled after a point is set. Pass, come, place and buy bets lose, the don't side wins, and the dice move to the next shooter.

Craps See also: Point, Shooter, Don't pass

Whether a bet is live. Place and buy bets are usually off on the come-out unless called working, as are odds behind come bets. Hardways work on the come-out under the Las Vegas rule and are off under the Atlantic City rule.

Craps See also: Place bet, Hardways, Come-out roll

The claim that a practiced grip and soft throw can make 7s rarer than 1 roll in 6. No controlled study has shown a repeatable effect in a real casino; the dice must hit the textured back wall, which randomizes the bounce.

Craps See also: Advantage play, Shooter

A roulette wheel with 37 pockets: 1 to 36 plus one green zero. Every bet pays as if there were 36, giving a 2.70% house edge on all of them.

Roulette and Baccarat See also: Double-zero wheel, La partage and en prison, True odds vs payout odds

A wheel with 38 pockets: 1 to 36, a zero and a double zero. The payouts are the same, so the edge nearly doubles, to 5.26% on every bet but the five-number bet. A triple-zero wheel, 39 pockets, costs 7.69%.

Roulette and Baccarat See also: Single-zero wheel, Five-number bet

Bets on the numbered grid: a single number pays 35 to 1, a split (two adjacent numbers) 17 to 1, a corner (four numbers) 8 to 1. Bigger payouts, the same edge as every other bet on that wheel.

Roulette and Baccarat See also: Outside bets, True odds vs payout odds

Bets on groups of numbers around the grid: red or black, odd or even, and high or low pay even money; a dozen or a column pays 2 to 1. A zero loses them all, except even-money bets under la partage or en prison.

Roulette and Baccarat See also: Inside bets, La partage and en prison

A bet on 0, 00, 1, 2 and 3 on a double-zero wheel, paying 6 to 1. At 7.89% it is the one bet on the layout that costs more than the wheel's 5.26%.

Roulette and Baccarat See also: Double-zero wheel, Inside bets

Single-zero rules for even-money bets when the ball lands on zero: under la partage you lose only half the bet; under en prison the bet stays on the table for the next spin. Either way the edge on those bets falls to 1.35%.

Roulette and Baccarat See also: Single-zero wheel, Outside bets

A physical flaw, such as a loose fret or a slight tilt, that makes some numbers come up more often than chance. Finding one takes thousands of recorded spins; precision-made wheels, leveled daily and logged spin by spin, have made it largely history.

Roulette and Baccarat See also: Advantage play, Gambler's fallacy

The baccarat bet on the hand that draws last. It wins slightly more often than Player, about 45.9% of hands against 44.6%, so it pays even money less a 5% commission. House edge 1.06%.

Roulette and Baccarat See also: Player, Tie, Vig

The baccarat bet on the hand that draws first, paid even money with no commission. House edge 1.24%. Neither hand belongs to the bettor; both are dealt by fixed rules.

Roulette and Baccarat See also: Banker, Third-card rule

The baccarat bet that Banker and Player finish level. At the usual 8 to 1 it carries a 14.36% house edge; at 9 to 1, 4.84%.

Roulette and Baccarat See also: Banker, Player

Baccarat hands count only the last digit of their total (7 + 8 = 15 = 5), tens and pictures as zero; closest to nine wins. A fixed table decides whether either hand draws a third card; no one at the table chooses.

Roulette and Baccarat See also: Banker, Player

The same game at a smaller table, with the dealer handling every card: 120–150 hands an hour against about 40 at the big table, where players squeeze cards to reveal them slowly. Same 1.06% on Banker, three to four times the cost per hour.

Roulette and Baccarat See also: Cost per hour, Banker

Versions that drop the 5% Banker commission and instead make a winning Banker three-card 7 a push. The Banker edge stays about the same, roughly 1.02%; the side bets that come with it, Dragon 7 and Panda 8, cost 7.61% and 10.19%.

Roulette and Baccarat See also: Banker, Side bet

Reading tiny asymmetries in the printed backs of cards, after getting the dealer to turn the high cards around, to tell high from low before betting. Courts in the UK (2017) and New Jersey (2016) ruled it cheating or a breach of the gaming contract.

Roulette and Baccarat See also: Advantage play, Hole-carding

Five-card draw on a machine: five cards from a fair 52-card deck, hold any, replace the rest once, and get paid on the final hand from a paytable printed on the glass. Its return under perfect play is a known number.

Video Poker and Slots See also: Jacks or Better, Paytable, Optimal strategy

The base video poker game: a pair of jacks or higher returns your bet, two pair returns 2 coins per coin bet, and so on up to the royal flush at 800 per coin with five coins in.

Video Poker and Slots See also: 9/6, Max coins, Hand rankings

Shorthand for a Jacks or Better paytable: what it pays per coin for a full house and for a flush. 9/6 returns 99.54% with perfect play, a 0.46% edge; 8/5 returns 97.30%, a 2.70% edge, on an identical-looking screen.

Video Poker and Slots See also: Full pay, Return to player (RTP), Jacks or Better

A machine carrying the best common version of its game's paytable, such as 9/6 Jacks or Better; a short-pay machine has one or more lines cut. Two side-by-side machines can differ by 3–5% in return.

Video Poker and Slots See also: 9/6, Paytable, Deuces Wild

The hold for every dealt hand that maximizes a machine's long-run return, given its paytable. Some correct plays feel wrong, such as breaking a made flush to draw to a royal. Playing by guesswork costs 2–4% of return.

Video Poker and Slots See also: Video poker, Basic strategy

Betting the full five coins per hand. The royal flush pays 250 per coin for one to four coins and 800 per coin for five, a jump worth about 1.4% of return.

Video Poker and Slots See also: Jacks or Better, Return to player (RTP)

A video poker game in which every 2 is wild and stands for any card. Full-pay Deuces Wild returns 100.76% with perfect play, a player edge; full-pay versions are rare. Other video poker games, such as Double Bonus, pay more for four of a kind.

Video Poker and Slots See also: Full pay, Optimal strategy

The software that picks a slot's result the instant you press the button. The spinning reels are an animation of a decision already made, and the generator has no memory of past spins.

Video Poker and Slots See also: Hold, Gambler's fallacy

The share of money played that a machine keeps over time, the slot version of house edge; a loose machine holds less, a tight one more. The casino sets it and doesn't display it.

ExamplePublished average holds run from about 2–4% in high-limit rooms to 10–12% on penny machines.

Video Poker and Slots See also: Return to player (RTP), House edge, Payline

A line across the reels on which matching symbols pay. A multi-line slot's bet is lines × coins × denomination, which is how a penny game at 40 lines and max bet reaches $2–$4 a spin.

Video Poker and Slots See also: Hold, Losses disguised as wins, Cost per hour

A jackpot that grows by a slice of every bet until someone hits it, funded by the players who don't. A must-hit-by progressive pays before a stated ceiling, so near it the game can turn positive expectation; a high video poker royal meter can too.

Video Poker and Slots See also: Advantage play, Volatility

Two jackpot symbols on the payline and the third just off it. On many machines the reel weighting shows near-misses far more often than chance would, because they prompt another spin.

Video Poker and Slots See also: Losses disguised as wins, Random number generator (RNG)

A spin that pays back less than it cost but plays the winning sounds anyway: bet $2, win $0.60. Multi-line slots produce them on a large share of paying spins.

Video Poker and Slots See also: Hit frequency, Payline, Near-miss

A table game, often poker-flavored, played against the dealer with fixed rules and paytables, such as Ultimate Texas Hold'em and Three Card Poker. There is no opponent to outplay or bluff; the house edge is built into the rules.

Carnival Games See also: Ante and Blind (Ultimate Texas Hold'em), Ante and Play (Three Card Poker), Element of risk

Two equal bets every player posts before the deal. The Ante pays even money if you beat the dealer, but pushes if the dealer doesn't qualify; the Blind pays a bonus only on a straight or better and pushes on lesser winning hands.

Carnival Games See also: Play bet (Ultimate Texas Hold'em), Dealer qualifies, Trips

The one decision in Ultimate Texas Hold'em: raise 4x or 3x the ante before the flop, 2x after it, or 1x after the river, else fold. Raising early pays; never raising 4x lifts the edge from 2.19% to about 5% of the ante.

ExampleThe published strategy raises 4x with any pair but deuces, any ace, most kings and big queens.

Carnival Games See also: Ante and Blind (Ultimate Texas Hold'em), Element of risk, Preflop, flop, turn and river

The minimum hand the dealer needs: a pair in Ultimate Texas Hold'em, queen-high in Three Card Poker. If it misses, in the first the Ante pushes and the raise still wins or loses; in the second the Ante pays even money and the Play pushes.

Carnival Games See also: Ante and Blind (Ultimate Texas Hold'em), Ante and Play (Three Card Poker), Push

Ultimate Texas Hold'em's optional side bet, paid on your own final hand, three of a kind or better, whatever the dealer holds. From 0.90% to 6.18% across the four approved paytables (A to D).

Carnival Games See also: Side bet, Paytable, Ante and Blind (Ultimate Texas Hold'em)

The main game: post an Ante, see three cards, then fold or Play by adding an equal bet. If the dealer qualifies, the better hand wins both bets. With three cards a straight is rarer than a flush, so it ranks higher.

ExampleHouse edge 3.37% of the ante, or 2.01% of all money bet, with the queen-six-four rule.

Carnival Games See also: Queen-six-four (Q-6-4), Ante Bonus, Pair Plus, Dealer qualifies

The whole Three Card Poker strategy: play any hand of queen-six-four or better, fold anything worse. Playing every hand costs about 2 percentage points more.

Carnival Games See also: Ante and Play (Three Card Poker), Dealer qualifies

An extra payout on the Three Card Poker Ante for a straight or better, paid whether or not you beat the dealer. Its paytable moves the game's edge: 5-4-1 gives 3.37% of the ante, 3-2-1 gives 4.28%.

Carnival Games See also: Ante and Play (Three Card Poker), Paytable

Three Card Poker's separate bet on your own three cards, ignoring the dealer: a pair pays 1 to 1, a straight flush 40 to 1. Paying 4 to 1 on a flush (40-30-6-4-1), it costs 2.32%; the now-common 3 to 1 costs 7.28%.

Carnival Games See also: Paytable, Side bet, Ante and Play (Three Card Poker)

Seeing a dealer's face-down card that a careless dealer exposes. One known card turns Ultimate Texas Hold'em or Three Card Poker into a player edge. In Nevada, seeing it with your own eyes and no device isn't cheating; casinos still remove such players.

Carnival Games See also: Advantage play, Upcard, Edge sorting

Playing worse because emotion has taken over, usually after a bad beat or a losing run: chasing losses, betting bigger, calling when you know better. The cards cause the loss; tilt causes the damage after it. Noticing it and stopping is a skill.

In the marketRevenge trading: the loss is already sunk, and the next order is sized by anger instead of edge.

Table Talk See also: Bad beat, Run good and run bad, Bankroll

Short for degenerate gambler: someone who will bet on anything, at any odds, usually more than is wise. Among players it is often said with affection, and often about oneself.

Table Talk See also: Tilt, Whale

The best possible hand given the cards on the board. The nut flush is the highest flush possible; the second nuts, the next best hand.

Table Talk See also: Hand rankings, Cooler

Losing a hand you were a strong favorite to win when an opponent catches a long-shot card. Seen from the winner's side, it is a suckout.

Table Talk See also: Cooler, Tilt, Equity

A hand in which two very strong hands meet and the loser couldn't reasonably have folded, such as a full house against four of a kind. Unlike a bad beat, no one played badly.

Table Talk See also: Bad beat, The nuts

A weak player who loses money over time, often without knowing it. Donkey, or donk, is the ruder version.

Table Talk See also: Shark, Whale, Exploitative play

A strong player who wins by finding weaker ones and playing against them.

Table Talk See also: Fish, Grinder

A player who bets very large amounts, at poker or in the casino. Card rooms and casinos court whales with comps and private games; at the poker table the word usually means a big-money player who loses.

In the marketThe market's whale: big enough that their orders move the price.

Table Talk See also: Fish, Comps

A player who earns a modest, steady edge through long hours and volume, closer to an office job than an adventure.

Table Talk See also: Shark, Rounder, Sample size

A very tight, cautious player who plays only premium hands and rarely bluffs. Hard to win a big pot from, and easy to read.

Table Talk See also: Range, Fish

A player who makes a living from poker by making the rounds of games, traveling wherever the action is.

Table Talk See also: Grinder, Shark

A winning streak better than skill alone would explain. It ends; the edge, or the lack of one, stays.

Table Talk See also: Run good and run bad, Gambler's fallacy

Results above or below expectation because of the cards, not the decisions. Separating how you ran from how you played is the first discipline of a serious player.

In the marketPerformance attribution: telling a manager's skill apart from the market's luck.

Table Talk See also: Variance, Expected value (EV), Sample size

Using tricks that skirt the rules to mislead opponents, such as acting as if to fold or hiding large chips behind small ones. Card rooms penalize it, and players remember it.

Table Talk See also: String bet, Betting actions

Putting chips in with more than one forward motion without first announcing a raise. Card rooms treat it as a call, so no one can watch reactions before deciding how much to add. Saying “raise” first makes any amount clear.

Table Talk See also: Raise, Call, Angle shooting