Casino Glossary

• Payout Percentage

  Casino

  The long-term percentage of money played on a slot machine that is paid back out to players.

• Long Run

  Casino

  The point, after enough rounds of play, where the cumulative actual outcome approaches the theoretical mathematical expectation.

  Antonym: Short Run

• Banker

  Casino

  The dealer. In pai gow, a player can become the banker, gaining the advantage of winning ties. In baccarat, one of the two hands the player can bet on.

  Synonym: Croupier, Dealer

• Pip

  Casino

  Spots on a card, the number of them being the value of the card.

• Point Total

  Casino

  The total value of cards in a player or dealer hand.

• Scared Money

  Casino

  Money gambled by a player who is afraid to lose it.

• Down Card

  Casino

  A card dealt face down, i.e. hidden from other players.

• Progression Betting

  Casino

  A system of changing a player's bet size from round to round based on various criteria. Better known as progressive betting. Examples include the Martingale and D'Alembert Systems.

• Player Rating

  Casino

  A ranking based on an estimate of how much the player is betting (and theoretically losing to the house). Used to award comps.

• Playing Strategy

  Casino

  Rules followed by a player to maximize their chances of winning.