Online Casino Gambling Glossary
More than 141 gambling terms & expressions
For those of you just starting out online gambling, we have developed this comprehensive online casino gambling glossary to help you understand the most widely used terms and definitions in the online gambling world. Of course, it is not essential to be familiar with all these terms in order to play, but they're still good to know. Have fun.
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Odd Bet [Roulette]
This term is used when wagering that an odd number will hit on the next spin.
See also impairFrench term for the Odd Bet.. -
Odds
In any event, every outcome has a chance or likelihood of taking place. Odds are simply a reflection/interpretation of that chance or probability of a certain outcome in an event (a measure of the likelihood of its occurrence). Bookmakers form odds or prices to reflect those chances. Casino gambling games are based on odds and probabilities.
In american roulette (38 pockets - two zeroes and 36 non-zero numbers), for example, the probability that the ball will land on number 7 can be expressed as the ratio of 1:38 (ie.1/38). The ratio represents the chance that the ball will land in number 7 compared to it landing in all of the possible other 37 numbers.
In casino gambling, it is a common practice to refer to either the odds “for something happening” or the odds “against something happening”. In our roulette example, the odds against the 7 winning is 37:1. You have 37 chances to lose for every 1 chance to win (see also Payoff Odds). -
Outside Bet
Bets on 2:1 (dozen or column) payouts or even-money bets (red/black, odd/even, high/low) found on the outside part of the roulette layout. They involve betting on 12 or 18 numbers at the same time (also see Roulette Rules). -
Overlay
A good bet where the player has an edge over the casino.
