Betting & Casino Terminology Guide

A plain-English glossary from SafeBettingGuide.com

This terminology page explains the most common words and phrases used on betting and casino websites. It is designed to help users better understand how gambling works and make more informed, responsible decisions.

A–C

Accumulator (Acca)
A single bet that combines multiple selections. All selections must win for the bet to pay out.

Account Health
How a bookmaker views your account based on behaviour, verification status, and rule compliance.

Bonus
Promotional credit offered by bookmakers or casinos, usually with conditions attached.

Bet Builder
A bet that combines multiple selections from the same event into one wager.

Bankroll
The amount of money set aside specifically for gambling, separate from everyday finances.

Cash-Out
A feature that allows you to settle a bet early for a fixed return.

Casino Games
Games such as slots, roulette, blackjack, or poker. In online casinos, these games are played against the operator rather than other players.

D–F

Deposit Bonus
A bonus that matches a percentage of your deposit.

Draw
An outcome where neither team wins (often abbreviated as “X”).

Free Bet
Bonus betting credit that usually does not include the stake in winnings.

Free Spins
Casino promotions allowing spins on slot games without using cash.

Fixed Odds
Odds that do not change after a bet is placed.

G–I

Gambling Harm
Negative financial, emotional, or social consequences caused by gambling.

In-Play Betting
Placing bets after an event has started.

Implied Probability
The chance of an outcome occurring based on the odds.

J–L

Jackpot
A large prize pool, often increasing as more players participate.

KYC (Know Your Customer)
Identity checks required by bookmakers to verify customers' details, such as name, age and address.

Lay Bet
A bet placed against an outcome happening (typically on betting exchanges).

Limits
Restrictions on deposits, losses, or time spent gambling.

M–O

Matched Betting
A betting strategy using promotions and free bets to reduce a player's risk.

Maximum Bet
The highest amount allowed on a single wager.

Minimum Odds
The lowest odds required for a bet to qualify for a promotion.

Odds
The price showing potential return and probability of an outcome.

Overround
The bookmaker’s built-in margin across a market.

P–R

Payout
The total amount returned from a winning bet.

Playthrough / Wagering Requirement
The number of times a bonus must be bet before withdrawal.

Responsible Gambling
Practices that help keep gambling safe, controlled, and within limits.

Refund Offer
A promotion where a losing bet may be refunded under certain conditions.

S–U

Self-Exclusion
A tool allowing users to block themselves from gambling platforms.

Slots
Popular Casino games based on spinning reels and symbols.

Spread Betting
Betting on the margin of an outcome rather than a fixed result.

Stake
The amount of money placed on a bet.

Turnover
The total amount wagered over a period of time.

V–Z

Variance
How much results can differ from expected outcomes in the short term.

VIP Scheme
A reward programme offering incentives to high-spending customers.

Void Bet
A bet that is cancelled and returned due to specific circumstances.

Welcome Offer
A promotion for new customers, often with wagering conditions.

Final Note

Understanding gambling terminology helps reduce confusion, avoid misleading promotions, and support safer decision-making. If a term isn’t clear on a betting or casino site, it’s important to pause and seek clarification before wagering.

 

** Please note - This glossary is for educational purposes only and does not constitute financial or legal advice.