Gambling has long been a source of entertainment, yet has also been legalized in some regions. Over time, understandings regarding gambling have evolved considerably.
Gamblers who gamble professionally use skills to increase their odds of success. They limit risks, wait for favorable odds to come their way and adjust accordingly.
Gambler
Gamblers speak in their own unique dialect that can reveal much about them and where they came from. For instance, an American who uses terms like “carpet joint” is likely more sophisticated than one who only ever played at local sawdust joints – this slang also gives an indication of the level of skill the gambler possesses in betting.
Slang terms like “running cold” and “going broke” are often used to refer to an unsuccessful gambling session. Another term often heard is “buying points on the spread”, in which players take on increased risks in order to increase the odds of their team winning.
Conversely, some gamblers use the term “scared money” to refer to bets that are larger than their bankroll. A scared money bet typically involves borrowing or owing cash; gambling terminology can be daunting at times; understanding some basic terminology will make playing simpler; for instance a professional gambler makes their living by betting on games of chance or skill-based activities, though these professionals may exhibit chasing behaviors that lead them down pathological gambling pathways.
Bettor
Gambling slang refers to the language and lingo used by casino players when making wagers and games at tables. Learning these terms will allow you to play more confidently, avoid mistakes that cost money and appear more knowledgeable at the table.
Handle: The total amount wagered on any one game or event at a sportsbook. This varies greatly based on both event type and amount betted; high handles often indicate winning bets while low handles indicate losses.
Running cold: Running cold refers to players who are experiencing an extended losing streak; its opposite, however, would be described as being “hot”. Professional gamblers commonly use this term when discussing their own play.
White meat: White meat bets provide a safe start-up bet that should only be made using a portion of their bankroll; these bets may also be known as scared money bets when placed when an edge exists in the game.
Wager
Gambling is a risky activity in which you stake money or another valuable item on the outcome of an event, typically one with unknown outcomes. Although skill can help mitigate some instances of random chance involved with gambling games, most bets tend to end in random results.
Junkets, or groups of high rollers who play together at casinos, often draw the eye due to their large stakes and lavish lifestyles. While these groups might appear intimidating at first glance, these individuals don’t necessarily make great gamblers themselves; some can even lose big without even breaking a sweat!
Line movement occurs when odds on a game change from when bets open to when it starts, due to various reasons like an injury to one team, weather changes or when too many people bet on one side of the spread (known as straight up betting or moneyline bets).
Tilt
Gambling can be an enjoyable and social pastime for people who enjoy taking chances, but it can also be risky and even lead to addiction for some. A solid knowledge of casino terms and jargon will help ensure you play at your best without running into trouble.
Tilt is a term in gambling used to describe someone who is playing recklessly or aggressively due to losing big at the table, often precipitated by experiencing significant financial setbacks or disappointment. Such play can put their health at risk and should always be pursued responsibly.
Backer – In sports terms, a backer refers to any wealthy individual or institution who finances an athlete or team’s endeavors – such as Eddie Felson’s financier in Paul Newman’s iconic movie The Hustler.
Cover – When a team wins by beating the point spread of their game. This is most commonly seen in sports betting where bookmakers predict certain teams will do well and offer odds to cover. When that team does indeed beat its odds and cover its spread by more points than expected, all bettors who had wagers placed will receive payment from bookmakers for all bettors who have placed bets on that team.
Optimal Strategy – Optimizing chances of victory is the purpose of optimal strategy; it applies to table games such as blackjack or roulette as well as slot machines.
Odds
Odds in sports betting refer to the chances of winning a bet, set by casinos or bookmakers and can be changed by gamblers to increase their chance of success. They’re commonly known as point spreads in football games; an “against the spread” record measures how well teams manage this feat while bad beats occur when a favorite loses.
Nickel and buck stakes are the lowest levels of bets that a gambler can place, usually done using “scared money,” meaning cash that they cannot afford to lose and often borrowed or loaned from friends and family members.
Professional gamblers are individuals who primarily rely on gambling as a source of income, limiting risks and waiting until odds improve before placing bets. Furthermore, skilled professional gamblers will use strategies and skills to increase their odds of success when placing wagers. Pathological gamblers may exhibit chasing behavior or have other psychological issues which lead to compulsive betting habits.
