Unravel the Lingo: Cracking iGaming Jargon

Jargon refers to specialized language that is used by a particular group of people, such as an industry or profession. Whatever industry you work in, chances are there are specific terms and expressions that are not commonly understood by people outside of your professional group.

Casino and Sports betting language is no different, so here are a few key terms everyone should know:

Source: Unsplash

Crack the code

Jargon allows for more efficient and precise communication among people within a particular field or group, as they can convey complex ideas quickly and accurately. It can establish a sense of belonging and shared identity among members of the group.

The problem with jargon is that people outside of the group may not understand the language, causing confusion. It can create a sense of elitism or exclusion, which can be off-putting to those not familiar with the language.

"intense woman at work-2200125" (CC BY 2.0) by jseliger2

The casino industry generally has rather a lot of jargon and you’d be surprised at how many people don’t know what RTP is or how is RTP calculated? While some casino jargon such as comps, croupier, and house edge has become ubiquitously used, there are some terms specific to sports betting that many might be unsure of and reluctant to ask about. So in the interest of transparency and openness, let’s look at the top sports betting jargon.

• Action - refers to a bet or wager. A bet is often referred to as "action." The phrase is also used in casino betting, where a dealer may utter the phrase "the action is on you," signifying that it is now your turn to take action.
• A bad beat – refers to an unlucky loss. When an unanticipated sports event results in a person losing their wager despite the wager having a high possibility of winning. Also used in poker, it happens when one player bets with a hand that is stronger than the other and their opponent makes a terrible mathematical judgment that wins the round as the ensuing cards fall their way.
• Bankroll - the total amount of money a bettor has available to wager. This is the sum of money you have set aside for sports betting, not the total of your bank accounts. This is vital because if you begin with an initial bankroll of $2,000 and lose it all, you should perhaps pause betting for a while. It's a method to abide by so you don't go overboard and dip into your savings. Generally, it’s recommended to bet not over 1-5% of your bankroll per bet, that way your funds don’t disappear after a short period of bad results.
• Chalk - a favorite team or player that is heavily backed by the public and is expected to win. Someone might be referred to as a chalk bettor, meaning they will typically wager on the favorite.
• Spread - the point differential between two teams used to even the odds in a betting matchup. When viewing the spread, the team with the positive line indicates the underdog while the negative line is the favorite. In order to obtain the same amount of action on both sides of a game, bookmakers set a spread.
• Parlay - a bet that combines multiple selections into one wager. A parlay wager pools two or more wagers into one bet to boost your potential payout. Acca, accumulator, multi-wager, or combo bet are also terms used that mean the same as a parlay. For a parlay bet to win, every element of the bet must come to pass, so checking out the football accumulator odds can be beneficial

This is a brief explanation of the terminology used in online casinos and sports betting. These are some of the most often used and crucial words and phrases for a novice to understand, while there are many more that are specific to each field. If there are still some terms you're not sure about, don't be deterred, an easy explanation is normally not hard to find.