Glossary of Terms

Gambling has a vocabulary of its own, and much of it is designed to sound more exciting than it is. Here are the terms that come up most often on this site, explained as simply as we can manage.

Accumulator

A single bet that combines several selections. All of them must win for the bet to pay, which is why payouts look large and wins are rare.

Bankroll

The money set aside purely for gambling, separate from anything needed for everyday life.

Cashback

A promotion that returns a share of losses over a period, often as bonus money with its own conditions.

Cooling-off period

A short, voluntary pause on a gambling account, from a day to several weeks.

Decimal odds

Odds shown as the total return per unit staked, including the stake. Odds of 3.00 return three units for every one bet if the bet wins.

Hit frequency

How often a slot spin produces any win at all, regardless of size.

House edge

The advantage built into a game, expressed as the share of stakes the operator expects to keep over time.

In-play betting

Betting on an event while it is happening, with odds that change as the action unfolds.

Licence

Official permission from a gambling regulator to offer games or bets, with rules the operator must follow.

Live dealer game

A table game streamed in real time from a studio, with a human croupier.

Maximum bet rule

A bonus condition that caps how much you can stake per spin or hand while the bonus is active.

Progressive jackpot

A prize that grows as a small part of every eligible bet is added to it, until someone wins.

Random number generator (RNG)

The software that decides the outcome of digital games, producing results that can't be predicted.

Return to player (RTP)

The theoretical percentage of all stakes a game pays back over a very large number of plays.

Self-exclusion

A longer, often irreversible block on gambling accounts that a player requests for themselves.

Volatility

How a game spreads its payouts: frequent small wins (low) or rare larger ones (high).

Wagering requirement

The amount that must be bet before bonus money, or winnings from it, can be withdrawn.

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