When venturing into a new playing session at a casino, it’s very important to familiarise yourself with all the key terms. In case you are a new player, this is crucial since you might not have encountered some of the specific terms used in online gambling.
In this article, let’s explore a comprehensive glossary together, covering casino and slot mechanics, sportsbook terms, and key aspects of promotions. The curated definitions and facts will help you discover the most noteworthy aspects of how online gambling works.
After playing with an online casino bonus, you will need to go through the wagering requirements in order to cash out. Most of them range from 1x to x99, but there are some rare exceptions with higher values. Additionally, some casinos curate their bonuses without wagering requirements, meaning you don’t need to play for too long until you’re able to redeem any potential winnings.
This condition is very important because without wagering your winnings, casinos will not allow you to initiate a payout.
After finishing a set of spins, for example, you will need to go ahead and wager your winnings in order to withdraw. It’s essential to review the casino's terms and conditions, as not all games contribute equally to the wagering progress. Typically, live casinos contribute 0%, while most slots reach a contribution rate of 100%.
Every casino has a restricted games list that you cannot take advantage of while wagering a bonus. If you place any bets on any of those games, you are prone to losing your winnings because it is a breach of the terms and conditions.
During the process of meeting the wagering requirements, you will be able to play various games and place different bets on them. When you do that, it’s crucial to have in mind that most gambling platforms have restrictions regarding the maximum bet allowed. The amounts vary from bonus to bonus, or they are simply stated in the terms and conditions.
Let’s look at a simple example:
Most of the time, when claiming a bonus at a casino, your money will be at stake, so it’s best to acquaint yourself with the maximum cash-out of the respective offer. Usually, the bonus terms will state the maximum amount, and some may not have one, simply complying with the general conditions of the casino.
Some promotions have a time limit during which you can wager them. For example, you can only wager a bonus in a span of 7 days until it expires.
Sometimes, welcome bonuses will have a condition that states you only have 30 days to claim them from the moment you’ve registered.
RTP refers to the return-to-player rate of each game, which is a percentage. For example, if a game has an RTP of 97%, for every $1 bet you place, you will receive $0.97 back. It’s worth remembering that the average RTP of most slot machines is 96%.
Volatility is a term used to describe how frequently a game pays out a win and how large or small the payout is.
High volatility means the game offers large wins but with a low frequency.
Low volatility games payout small winnings frequently.
RNG refers to the random number generator technology that casino games are based on, which ensures that the outcome of your bets is fair.
Nevertheless, you should remember that gambling is a game of chance, and there is no way you can predict the outcome. Ensure you gamble responsibly and treat it as a fun activity rather than a means to make a profit.
The house edge represents the profit that every casino expects to make from each game during its lifetime. Therefore, in the long term, this ensures that the casino is always at an advantage and not the player.
Recent studies have shown that sports betting is associated with increased engagement in watching matches. This is why there are so many platforms on which you can bet on your favourite sports, including football, basketball, baseball, tennis and many more. It’s important to get acquainted with how the basic concepts work before playing a bet, so here are the key terms:
Moneyline is when you place a bet on an outcome of a match. Therefore, you are betting on the game you think will win the respective match. Usually, there are two possible outcomes because most sports involve two teams, so you either lose your bet or win. However, some competitions, like fights, end up in a draw, in which case there is a specific procedure depending on the platform you’re betting at.
The spread simply refers to the final score of the match between the two teams. You will notice a negative and a positive number representing the spread. Let’s say the spread is 5 points:
This means that the team in favour is expected to score 5 more points than the other.
CLV is the closing line value, and it represents the difference between the odds when you place your bet and the odds right before a game or match starts.
If the CLV is on the negative side, then it means you are betting with a disadvantage, but if it’s positive, +5% or higher, it means you have a beneficial and lasting edge.
Steam happens when betting odds change unexpectedly and suddenly. This occurs when a group places their bets simultaneously, for example, when a player suffers an injury or the weather forecast announces rain.
A push occurs when the result of the game matches the exact point spread, total, or betting line. When this happens, the platform refunds all initial wagers to everyone who placed the bet, since it’s considered a tie.
Ultimately, don’t forget that all terms mentioned are just a starting point and the most important ones you need to consider when partaking in any gambling session. Be mindful that there are many other specific terms for each bonus, game and so on.
To properly get familiar with everything, you must also get acquainted with additional terms depending on the type of gambling you engage in, whether it’s sports, slot machines, live casino or others.
