When you first get into gambling, things may get a bit overwhelming. That’s because casinos are made to be flashy and there are a lot of terms that you may not be familiar with. It helps if a new player takes the time to learn these terms before they start playing.
Here’s a list of commonly used ones that will help you understand the reviews and tutorials better and choose the casino and the games that you understand. It’s not a complete list (and one can’t be made) but it’s a start.
Wagering requirement
A wagering requirement is one of those gambling terms that you hear a lot especially on gambling sites like AskGamblers.com but don’t really understand until you get into it. It’s the amount you need to bet in order to use the bonus provided by the casino. That way the casinos don’t give out money for free as it seems they do when bonuses are advertised.
Sometimes these requirements are too high and it means that it doesn’t pay off to use the bonus even when it’s a gift to a new player.
House Edge
House edge is the advantage that the house, meaning the casino has in any game that you play. All the games are always made to work in the favor of the casino. This is something to be aware of when making bets and strategies.
Games that are based on skill and not only luck are the ones that have the lowest edge in favor of the house. However, they usually take a lot of time and effort to master.
Deposit Bonus
A deposit bonus is a bonus that casinos use as a part of their marketing strategy. It’s the most straightforward and therefore the most popular bonus. Simply put the casino puts money into your account and allows you to use it.
These bonuses sometimes do come with wagering requirements attached to them so you need to be careful and aware of how much you need to add to the deposit yourself before you’re allowed to use it.
A Return To Player
Return to player is a metric that you need to be aware of before deciding to play a game or use the services of a casino. It tells you how much of your funds you can get back from a long-term perspective. The metric comes in the form of a percentage – for instance, a slot game with a 98 percent return to player is pretty good.
This means that you’ll get back $98 out of every $100. The casino always ends up taking a portion, however, at least in the long run.
Random Numbers Generator
Games that are based on luck alone work based on the random number generator. It’s an algorithm that will produce a random combination of numbers and that will come up with a slot combination based on it. That way there’s no pattern in how the game will turn out.
Many players try to look for a strategy and to chase a win after a few losses. However, there’s no basis for playing that way and that’s why every player should know about random numbers generators.
Bookie
A bookie is a person that accepts wagers mostly when it comes to organizing betting on sports and esports. It’s short for a bookkeeper and they are the one that sets the odds and regulates the game. When it comes to betting online the term sportsbooks is also used and usually when there’s no one person doing the job.
You’re not actually betting against the bookie even though they will tell you the odds. Instead, you’re betting against the house meaning the establishment.
Martingale System
A martingale system is used as a betting system used for many games that operate in turns. The principle is simple: you increase the amount you bet every time that you lose. The increase usually means doubling the bet. That way you can recover all that you lost in a single bet and you only lose if you end up losing too many times in a row.
It’s not a very good system, however, since at some point you do end up losing a lot of times in a row, and then you’re out.
A Progressive Jackpot
A progressive jackpot is a pool of money that you can win at a slot game. What makes it different from an ordinary jackpot is the fact that it grows progressively as players add to it by losing. The one who wins, in the end, collects the deposits that the players that have played before them have lost. The main benefit of this type of jackpot is that you get to win more money.
This doesn’t mean however that you should play based on the losses others have had. The results are still determined by a random numbers generator.
Free Spins
Free spins are bonuses provided by the casino used to attract new and reward old players. They are as they sound to be – a free spin you get to play on the house. This doesn’t mean, however, that you get to withdraw the winnings right away.
For the most part, wagering requirements will work on these free spins as well. The casino will attach a value to them and a player will need to deposit that amount or more before they can withdraw what they earned from a free spin.
