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Gambling Dictionary
Pay Off - Calling a bet with
little expectation of winning.
Payback Percentage - The
percent of each dollar played in a video or slot machine that the
machine is programmed to return to the player. Payback percentage is
100 percent minus the house edge.
Payoff Schedule - A posting
somewhere on the front of a slot or video poker machine, that tells the
player what each winning hand will pay for the number of coins or
credits played.
Payout Percentage - The percent
of each dollar played in a video or slot machine that the machine is
programmed to return to the player. Payout percentage is 100 percent
minus the house edge.
Payout Table - A posting
somewhere on the front of a slot or video poker machine, that tells the
player what each winning hand will pay for the number of coins or
credits played.
Pick`em Game - A dead even game
giving both sides an equal chance.
Pigeon - An uneducated, naive,
or unsophisticated gambler.
Pit - The area inside a cluster
of gaming tables, where the center is restricted to dealers and other
casino staff.
Pit Boss - A casino employee
who is in charge of all the tables in a particular area.
Place Bet - The place numbers
are 4, 5, 6, 8, 9 and 10. The place bet is a wager that either one or
more of the place numbers will come up before a seven in Craps.
Player - A person gambling at a
casino.
Player Position - Eight player
positions on each side of the standard craps table, numbered 1 through
eight moving from the stickperson to the dealer.
Plug - A card shuffling
technique.
Pocket Cards - Playing cards
that are dealt face down during a Poker game.
Point - In craps, dice term for
the number rolled on the Come Out Roll if a 4, 5, 6, 8, 9, or 10 are
rolled. The point has to be repeated before a seven rolls for the Pass
Line bets to win.
Point Numbers - The numbers 4,
5, 6, 8, 9 and 10 established on the Come Out roll in Craps.
Point Spread - The listed odds
or points offered on a game.
Pot - In a poker game, the
amount of money that accumulates in the middle of the table as each
player antes, bets, and raises. The pot goes to the winner of the hand.
Press - Increasing a bet by
double.
Press Bet - A wager twice the
size of a person's usual wager.
Pressing - A player is pressing
the bet when he/she lets winnings ride by wagering them along with the
original bet.
Price Line - The listed odds or
points offered on a game.
Probability - A branch of
mathematics that measures the likelihood that an event will occur.
Probabilities are expressed as numbers between 0 and 1. The probability
of an impossible event is 0, while an event that is certain to occur
has a probability of 1.
Progressive Slots - Slots that
allow the player to increase the potential jackpot each time a new coin
is inserted for play. When the progressive jackpot finally hits, the
amount resets to the starting number.
Proposition Bet - Dice bets on
number combinations.
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