Like any social sphere, gambling has its own unique lexicon that’s uttered from casino to casino, around the table games and other online or live card games and tournaments.
Technical words that define the industry can often seem like foreign phrases to those looking in from the outside.
While this won’t be much of a concern to people who gamble regularly, it can often be a problem for someone who is just starting out on the road to infinite riches, perhaps trying out online casino vulkanvipclub.net with their betfair bonus code. Indeed, if you’re looking to become the most profitable casino punter possible, you need to know how to play and talk like a professional!
To understand what you’re betting on or the advice someone is giving you, you have to know the jargon they are using. So, in the rest of this article, we’ll outline some common casino phrases that every beginner should learn if they want to gamble with confidence.
Pit: This is where bets are made and money is exchanged. In every brick and mortar casino a pit boss will oversee the action.
Expectation: In any gambling situation, the result of your actions will always have an immediate and long-term result. The overall outcome of your decision is defined as its expectation or EV. This can either be positive (will make you money) or negative (will lose you money).
Edge – Whoever has the advantage in a particular situation is said to have the edge.
Variance – Technically, variance is the summation of results along a continuum of expectation – variance can be either positive or negative and can change at any time. In broader terms, variance is the swings of good and bad luck you experience whilst gambling.
Drop Box – This is the place where money or casino chips are stored.
Cracking the Nut – The amount of expenditure a professional gambler has each month is known as their “nut”. Once they’ve won enough money to cover this they’re said to have cracked their monthly nut and anything from that point onwards is pure profit.
Push: In any casino game where there’s a chance you can tie with the dealer, it’s technically known as a push. Pushes commonly happen in games such as blackjack or three card poker.