Gambling & betting glossary
Plain-language definitions of the gambling and regulation terms used across this site. These are general explainers, not legal advice — the legal minimum age and rules are always the ones set by your jurisdiction.
Sports bettingCasino gamblingLotteryDaily fantasy sports (DFS)SportsbookStakeWagerOddsHouse edgeReturn to player (RTP)RegulatorOperating licenceAge & identity verification (KYC)Self-exclusionDeposit limitCooling-off periodAffordability checkResponsible gamblingProblem gamblingUnlicensed (offshore) operatorJurisdictionMinimum gambling ageWagering requirementParlay (accumulator)
- Sports betting
- Placing a wager on the outcome of a sporting event, such as a game, match or race.
- Casino gambling
- Games of chance offered by a licensed casino, including slots, roulette, blackjack and other table games.
- Lottery
- A game in which numbered tickets are sold and prizes are awarded to holders of numbers drawn at random.
- Daily fantasy sports (DFS)
- Contests where players build a virtual team of real athletes and score points based on those athletes’ real-world performance. Its legal treatment can differ from sports betting.
- Sportsbook
- A company (or the part of a casino) that accepts and pays out bets on sporting events.
- Stake
- The amount of money a person risks on a single bet.
- Wager
- Another word for a bet: money risked on an uncertain outcome.
- Odds
- A number expressing how likely an outcome is and how much a winning bet pays.
- House edge
- The built-in mathematical advantage a gambling operator has over players on a given game, expressed as a percentage.
- Return to player (RTP)
- The percentage of total staked money a game is designed to pay back to players over the long run. It is a long-run average, not a promise for any single session.
- Regulator
- The government body that licenses and oversees gambling in a jurisdiction, sets rules and can penalise operators.
- Operating licence
- Official permission a regulator grants a company to offer gambling. Licensed operators must follow rules on age checks, fairness and player protection.
- Age & identity verification (KYC)
- “Know Your Customer” — the checks a licensed operator must run to confirm a customer’s age and identity before they can deposit or bet.
- Self-exclusion
- A tool that lets a person ask operators, or a national scheme, to bar them from gambling for a chosen period. A core harm-reduction measure.
- Deposit limit
- A cap a player can set on how much money they add to a gambling account over a day, week or month.
- Cooling-off period
- A short, temporary break from gambling that a player can activate on their account, shorter and more flexible than self-exclusion.
- Affordability check
- A review some regulators require operators to run to judge whether a customer’s gambling is financially sustainable for them.
- Responsible gambling
- The set of tools and practices — limits, breaks, self-exclusion, clear information — intended to keep gambling within safe bounds.
- Problem gambling
- Gambling that causes harm to a person’s finances, relationships, work or health. Free, confidential help is available.
- Unlicensed (offshore) operator
- A gambling site that operates without a licence from the player’s own regulator. Using one removes consumer protections such as guaranteed payouts and self-exclusion.
- Jurisdiction
- A country, state or territory whose own laws set the gambling age and rules that apply within its borders.
- Minimum gambling age
- The youngest age at which a person can legally take part in a given gambling activity in a given jurisdiction.
- Wagering requirement
- A condition attached to a bonus that requires a player to bet the bonus (and sometimes the deposit) a set number of times before winnings can be withdrawn.
- Parlay (accumulator)
- A single bet that links several selections; all must win for the bet to pay. Higher potential payout, lower chance of winning.