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Home/Glossary
Last updated:February 22, 2026

BonusBell Gambling Glossary

92 gambling terms organized into five categories: betting (sportsbook mechanics, line shopping, hold, vig, point spreads, futures, props), casino (house edge, RTP, blackjack basic strategy, video poker, slots, table games), poker (pot odds, position, fold equity, flop/turn/river, all-in, ante and blinds), math (expected value, Kelly criterion, variance, standard deviation, implied probability, break-even percentage), and general (responsible gambling, problem gambling, bankroll management, sweepstakes vs licensed, prediction markets, pari-mutuel wagering). Every term carries a short definition, a full explanation with the relevant math, and a concrete “In practice” example block with named books, real numbers, and worked-out scenarios.

How to use this glossary

Search by term, filter by category, or sort by difficulty (beginner / intermediate / advanced) using the controls below. Most-searched terms include expected value, closing line value, Kelly criterion, arbitrage, hedging, no-vig odds, and house edge. Where a term has a corresponding calculator (Kelly, parlay, hedge, no-vig, risk-of-ruin), the term page links directly to it. Strategy concepts link to the relevant articles and gambling-101 lessons.

Editorial standards

Every definition is fact-checked against the standard gambling-mathematics references (Wizard of Odds for game math, Miller & Davidow's The Logic of Sports Betting for sportsbook economics, Sklansky and Harrington for poker theory). Where the math is contested or operator-specific (RTP variants, hold percentages, rake structures), the definition flags the variance instead of pretending a single number is universal. We do not use “guaranteed” or “risk-free” marketing language anywhere on the site, and the responsible-gambling cluster (problem gambling, self-exclusion, tilt) carries helpline resources at 1-800-GAMBLER and /responsible-gaming.

Home/Glossary
92 Terms

Gambling Glossary

Every gambling term you need to know — explained with real examples, formulas, and links to our calculators and practice games.

92 of 92 terms

Action

Having a bet in play on a game; also used to refer to total betting volume.

General
beginner

All-In

Betting all of your remaining chips on a single hand.

Poker
beginner

Ante

A forced bet placed by all players before cards are dealt.

Poker
beginner

Arbitrage (Arb)

Betting both sides of a market at different sportsbooks to guarantee a profit regardless of outcome.

Sports Betting
advanced

Bad Beat

A bet that appears won but loses due to a last-second or improbable event.

Sports Betting
beginner

Bankroll

The total amount of money set aside specifically for gambling.

General
beginner

Bankroll Management

The practice of managing your gambling funds to minimize the risk of going broke.

General
beginner

Basic Strategy (Blackjack)

The mathematically optimal play for every possible hand in blackjack.

Casino
beginner

Blind

Forced bets posted by the two players to the left of the dealer button before cards are dealt.

Poker
beginner

Bluff

Betting or raising with a weak hand to try to make opponents fold better hands.

Poker
intermediate

Bonus (Welcome Bonus)

A promotional offer from a sportsbook or casino that gives you extra funds or free bets.

General
beginner

Break-Even Percentage

The win rate needed to break even at given odds, accounting for the vig.

Math & Analytics
beginner

Bust

Going over 21 in blackjack, resulting in an automatic loss.

Casino
beginner

Card Counting

A strategy for tracking the ratio of high to low cards remaining in the deck to gain an edge.

Casino
advanced

Closing Line Value (CLV)

The difference between the odds you bet at and the final odds at market close.

Math & Analytics
advanced

Come Bet (Craps)

A bet placed after the point is established that works like a new Pass Line bet.

Casino
intermediate

Comp (Complimentary)

Free perks given by casinos to players based on their betting volume and loyalty.

Casino
beginner

Continuation Bet (C-Bet)

A bet on the flop by the pre-flop raiser, regardless of whether the flop improved their hand.

Poker
intermediate

Contract Price

The current trading price of a prediction market contract, reflecting the crowd's probability estimate.

General
beginner

Correlated Parlay

A parlay combining bets whose outcomes are statistically linked, increasing the true probability of both hitting.

Sports Betting
advanced

Cover

Winning a bet against the point spread.

Sports Betting
beginner

Don't Pass (Craps)

The opposite of the Pass Line — wins when the shooter sevens out, loses on come-out 7 or 11.

Casino
intermediate

Double Down

Doubling your bet in blackjack in exchange for receiving exactly one more card.

Casino
beginner

Edge

Any advantage a bettor has over the bookmaker or casino on a specific wager.

Math & Analytics
intermediate

Event Contract

A binary contract that pays $1 if a specific event occurs and $0 if it does not.

General
beginner

Exacta

A horse racing bet where you pick the first and second place finishers in exact order.

Sports Betting
intermediate

Expected Value (EV)

The average amount you can expect to win or lose per bet over time.

Math & Analytics
intermediate

Favorite (Chalk)

The team or player expected to win, indicated by negative moneyline odds.

Sports Betting
beginner

Flex Entry

A pick'em entry type where you choose 2-6 players and all picks must be correct to win.

Sports Betting
beginner

Flop, Turn, River

The three stages of community cards dealt in Texas Hold'em and Omaha poker.

Poker
beginner

Fold Equity

The additional value of a bet that comes from the chance your opponent will fold.

Poker
advanced

Free Bet

A promotional bet from a sportsbook where you risk nothing but keep the profit if you win.

Sports Betting
beginner

Full House

A poker hand containing three of a kind plus a pair (e.g., K-K-K-5-5).

Poker
beginner

Futures

Long-term bets on events that will be decided in the future, like championship winners.

Sports Betting
beginner

GPP (Guaranteed Prize Pool)

A DFS tournament with a fixed prize pool that pays out regardless of how many entries it receives.

Sports Betting
intermediate

Handle

The total amount of money wagered on an event or at a sportsbook over a period.

Sports Betting
intermediate

Hedging

Placing a bet on the opposite side of an existing wager to guarantee profit or minimize loss.

Sports Betting
intermediate

Hit

To request another card in blackjack.

Casino
beginner

Hold Percentage

The percentage of total money wagered that the sportsbook or casino keeps as profit.

Math & Analytics
advanced

House Edge

The mathematical advantage the casino has over players, expressed as a percentage of each bet.

Math & Analytics
beginner

Implied Probability

The probability of an outcome as implied by the betting odds, including the bookmaker's margin.

Math & Analytics
intermediate

Insurance (Blackjack)

A side bet offered when the dealer shows an Ace, paying 2:1 if the dealer has blackjack.

Casino
intermediate

Juice

Another term for vigorish — the commission built into the odds by the sportsbook.

Sports Betting
beginner

Kelly Criterion

A formula for calculating the optimal bet size to maximize long-term bankroll growth.

Math & Analytics
advanced

Live Betting (In-Play)

Placing bets on a game while it's in progress, with odds that update in real time.

Sports Betting
intermediate

Martingale System

A betting system where you double your bet after every loss, attempting to recover losses with one win.

Casino
intermediate

Middle

Betting both sides of a game at different numbers to win both bets if the final lands between them.

Sports Betting
advanced

Moneyline

A bet on which team or player will win a game outright, with no point spread.

Sports Betting
beginner

Morning Line

The track handicapper's estimated odds for each horse, published before betting opens.

Sports Betting
intermediate

Natural

An immediate winning hand: blackjack (Ace + 10) or craps come-out 7 or 11.

Casino
beginner

No-Vig Odds

The true fair odds after removing the sportsbook's built-in margin.

Math & Analytics
advanced

Odds Bet (Craps)

A zero house edge bet placed behind a Pass/Come or Don't Pass/Don't Come bet.

Casino
intermediate

Over/Under (Totals)

A bet on whether the combined score of a game will be over or under a set number.

Sports Betting
beginner

Ownership Percentage

The percentage of DFS lineups that roster a specific player in a contest.

Sports Betting
intermediate

Pari-Mutuel

A betting system where all bets are pooled together and payouts are calculated from the total pool after the house take.

General
intermediate

Parlay

A single bet combining two or more selections where all must win for the bet to pay out.

Sports Betting
beginner

Pass Line (Craps)

The fundamental craps bet — wins on 7 or 11 on the come-out roll, loses on 2, 3, or 12.

Casino
beginner

Pick'em

A contest where you predict player performances (over/under) against set stat lines.

Sports Betting
beginner

Point Spread

A handicap applied to the favorite to create a more even betting market.

Sports Betting
beginner

Position (Poker)

Where you sit relative to the dealer button, determining when you act in each betting round.

Poker
intermediate

Pot Odds

The ratio of the current pot size to the cost of a call, used to determine if a call is profitable.

Poker
intermediate

Prediction Market

A market where you trade contracts on real-world event outcomes, with prices reflecting crowd probability estimates.

General
intermediate

Problem Gambling

Gambling behavior that disrupts personal, family, or professional life.

General
beginner

Progressive Jackpot

A jackpot that grows incrementally as players make bets, until someone wins it.

Casino
beginner

Prop Bet (Proposition Bet)

A bet on a specific event within a game rather than the final outcome.

Sports Betting
beginner

Push

A bet result where the outcome lands exactly on the spread or total, resulting in a refund.

Sports Betting
beginner

Responsible Gambling

Gambling within your means, with awareness of risks and self-imposed limits.

General
beginner

Return to Player (RTP)

The percentage of wagered money a game returns to players over time.

Math & Analytics
beginner

Reverse Line Movement

When the betting line moves in the opposite direction from where the majority of bets are placed.

Sports Betting
advanced

Risk of Ruin

The probability of losing your entire bankroll, even with a positive edge.

Math & Analytics
advanced

ROI (Return on Investment)

Your net profit divided by total amount wagered, expressed as a percentage.

Math & Analytics
beginner

Royal Flush

The highest possible hand in poker: A-K-Q-J-10, all of the same suit.

Poker
beginner

Salary Cap

The budget limit for building a DFS lineup, forcing strategic player selection.

Sports Betting
beginner

Self-Exclusion

A voluntary program that bans you from gambling at casinos or online platforms for a set period.

General
beginner

Sharp (Sharp Bettor)

A professional or highly skilled bettor whose action influences line movement.

Sports Betting
intermediate

Shoe

A device holding multiple decks of cards used in table games like blackjack and baccarat.

Casino
beginner

Split

Dividing a pair in blackjack into two separate hands, each with its own bet.

Casino
beginner

Square (Recreational Bettor)

A casual bettor who bets for entertainment rather than as a professional.

Sports Betting
beginner

Stand

To keep your current hand and take no more cards in blackjack.

Casino
beginner

Standard Deviation

A statistical measure of how spread out results are from the average.

Math & Analytics
advanced

Steam Move

A sudden, significant shift in odds caused by a large volume of sharp betting action.

Sports Betting
advanced

Sweepstakes Casino

An online casino that uses a dual-currency model (gold coins + sweeps coins) to operate legally in most US states.

Casino
beginner

Teaser

A type of parlay where you get extra points on spreads or totals in exchange for lower odds.

Sports Betting
intermediate

Tilt

Emotional state causing irrational decisions, usually triggered by a bad beat or losing streak.

General
beginner

Trifecta

A horse racing bet where you pick the first, second, and third place finishers in exact order.

Sports Betting
intermediate

True Odds

The actual mathematical probability of an outcome, without any bookmaker margin.

General
intermediate

Underdog (Dog)

The team or player expected to lose, indicated by positive moneyline odds.

Sports Betting
beginner

Unit

A standardized bet size used to track performance, typically 1-2% of your bankroll.

Sports Betting
beginner

Variance

The measure of how much results deviate from the expected outcome in the short term.

Math & Analytics
intermediate

Vig (Vigorish)

The commission a sportsbook charges on a bet, built into the odds.

Math & Analytics
intermediate

Whale (High Roller)

A very high-stakes gambler who bets extremely large amounts.

Casino
beginner

Win/Place/Show

The three most basic horse racing bets — first place, top two, or top three.

Sports Betting
beginner

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