Glossary

A wager split into two parts: a “win bet” for the outright winner and a “place bet” for a top finish, often used in horse racing and sports with ranked outcomes. 

An independent organization, e-Commerce Online Gaming Regulation and Assurance, that reviews online casinos to ensure fair games and ethical operating practices.

Gaining a competitive advantage over an opponent or the house.

A rule used in European roulette that gives players a second chance if the ball lands on zero.

A security method using complex codes to protect casino software and online transactions from being compromised.

A situation where odds change as the day ends due to heavy betting activity or news updates.

Expected value betting, which quantifies the difference between a bettor’s predicted outcome and the sportsbook’s odds.

A wager where the payout equals the amount staked, offering a 1:1 return.

A complex wager in horse racing or sports betting which predicts the exact order of finishers (e.g., exacta, trifecta) or combines multiple outcomes.

The total amount a player is expected to bet to meet the wagering requirements and unlock bonus funds from a promotion.

A measure used to predict how profitable a bet will be over time. It considers the probability of winning and the potential payout.

The highest potential financial loss a sportsbook could face on a specific game or event.