The iGaming Glossary

A category of fraud in which a third party gains control of a legitimate player account to extract funds, exploit…

A single bet combining several selections, where every leg must win for the bet to pay. Known as a parlay in the U…

The bank or licensed payment institution that processes card payments on a merchant’s behalf, settling funds from…

A registered customer who has placed at least one wager within a defined reporting period. A core operator KPI and…

A non-statutory profitability measure widely used in operator and supplier earnings, excluding items such as M&A c…

Agenzia delle Dogane e dei Monopoli. The Italian customs and monopolies agency that licenses and regulates online…

The set of rules governing gambling marketing in a jurisdiction: what adverts may claim, whom they may target, whe…

A third party that drives traffic and registrations to an operator in exchange for commission, paid as CPA, revenu…

Operator-level financial vulnerability checks, formalised in some jurisdictions, that limit player spend based on…

The American Gaming Association (AGA) is the national trade body for the US gaming industry, representing commerci…

The Alderney Gambling Control Commission (AGCC) is the regulator that licenses and supervises online gambling (eGa…

The Alcohol and Gaming Commission of Ontario (AGCO) is the provincial regulator of gambling in Ontario, Canada, in…

Confirming that a customer meets the legal minimum age before gambling is permitted. In regulated online markets t…

A B2B supplier that integrates content from many game studios and exposes it to operators through a single API, re…

Alberta Gaming, Liquor and Cannabis (AGLC) is the provincial agency that regulates gambling in Alberta, Canada, an…

The US odds format, quoted as a positive or negative number relative to 100. Plus figures show profit on a 100 sta…

The body of regulation, internal policy, and tooling operators must implement to detect and prevent the use of gam…

Autorité Nationale des Jeux. The French national gambling regulator established in 2020, replacing ARJEL with expa…

Legislation allowing early dismissal of litigation brought to silence public participation or speech on matters of…

The technical contract through which platforms, suppliers, and PSPs exchange data and trigger actions in real time…

Fraud in which a player is manipulated into authorising a payment to a criminal, increasingly relevant under open…

Backing every outcome of an event across different operators at prices that guarantee a profit whatever the result…

Autorité de Régulation des Jeux En Ligne. The former French online gambling regulator, replaced by ANJ in 2020. St…

Net or gross revenue divided by active player count over a period. Used to benchmark monetisation efficiency and m…

A football handicap format that removes the draw by applying whole, half or quarter-goal starts, sometimes splitti…

The period after a click or impression during which a resulting conversion is credited to that marketing source. I…

Business-to-business. Suppliers that sell technology, content, and services to operators rather than directly to p…

B2C (business-to-consumer) describes the licensed operator that serves players directly. It holds the licence and…

The internal administrative system used by operators to manage players, bonuses, content, payments, risk, and repo…

The pool of money set aside specifically for betting or gaming, managed separately from everyday finances and stak…

British Columbia Lottery Corporation. The Crown corporation that conducts and manages gambling in British Columbia…

A horse racing (and sometimes greyhound) concession under which a customer who takes a price is paid at the starti…

The process of marking a bet as won, lost, void or pushed once the result is confirmed, then crediting or debiting…

A peer-to-peer marketplace where players bet against each other rather than against a bookmaker, with the platform…

A statutory contribution paid by bookmakers, most notably the UK Horserace Betting Levy, used to fund the relevant…

The price of a bet, showing the payout on a winning stake and the probability the price-setter assigns to the outc…

The Betting and Gaming Council (BGC) is the trade body for Britain's licensed betting and gaming industry, represe…

A contract that pays a fixed amount if a stated condition is met at expiry and nothing if it is not. Most US predi…

Operators serving players in clear breach of local prohibition. Distinct from grey market activity and a focus of…

A large transaction negotiated privately away from the order book and then reported to the exchange, available onl…

A regulator’s published list of gambling websites and operators found to be offering gambling to the jurisdiction’…

Patterns of play designed to extract value from promotional offers without genuine engagement. A core fraud and ri…

A slot feature allowing a player to pay a fixed multiple of their stake to enter the bonus round immediately, rath…

The platform module that configures, awards and tracks promotions: eligibility rules, bonus and free-spin awards,…

Bonus and promotional cost as a percentage of gross gaming revenue over a period. The standard measure of how much…

Bookmaker margin is the profit a sportsbook builds into its odds, measured as the amount by which the implied prob…

Brand bidding is buying paid-search ads on another company's brand name or trademarks. In affiliate marketing, it…

A sum the target pays the buyer if the target walks away from a signed acquisition, usually to accept a better off…

The fully loaded cost of acquiring one paying player, including media, affiliate, and creative spend. Compared aga…

Tracking the ratio of high to low cards remaining in a blackjack shoe to vary stake and strategy when the composit…

A slot mechanic in which winning symbols are removed and replaced by new symbols dropping into the gaps, allowing…

A feature letting a bettor settle an open bet before the event ends, for a value calculated from current odds. Can…

A promotion returning a percentage of a customer’s net losses over a period as bonus funds or withdrawable cash, t…

The payments module inside an operator's product where players deposit and withdraw. Integrated with multiple PSPs…

Retail casino payment models that replace cash on the floor with digital wallets, cards, and app-based funding. A…

The secured area of a casino that holds and controls cash and chips, handles player transactions and maintains the…

A promotion that ranks players on a leaderboard by wins, spins, points or a similar measure across selected games…

The baseline KYC and risk assessment performed on every customer at onboarding. Distinct from Enhanced Due Diligen…

The United States federal statute governing derivatives trading and the basis of the Commodity Futures Trading Com…

A formal direction from a regulator requiring a party to stop specified conduct, often the first enforcement step…

The lab and regulator approval process required for games, RNGs, and platform components to be made available in a…

The discretionary process by which the United States Supreme Court agrees to review a lower court decision. A part…

The United States federal agency that regulates derivatives markets, including futures, options, swaps and the exc…

The regulator established to supervise gambling licensed in Curaçao, replacing the master and sub-licence system t…

A transfer of ownership or effective control of a licensed gambling operator, through a sale, merger, new controll…

The share of a country's total gambling activity that flows through licensed operators rather than the unlicensed…

A reversal of a card transaction initiated by the cardholder's bank. A significant cost and fraud signal for opera…

The rate at which active players stop being active over a defined period. A leading indicator of retention health…

Litigation in which named plaintiffs sue on behalf of a larger group alleged to have suffered the same harm, with…

The category of tribal gaming in the United States covering casino games, slot machines and sports betting. It is…

The rule that a customer’s withdrawals must be returned to the payment method used to deposit, or to another metho…

The difference between the odds a bettor took and the market's closing odds on the same outcome. The standard prox…

A slot mechanic that pays for groups of matching symbols touching horizontally or vertically, with no paylines and…

A retention and revenue analysis method grouping players by acquisition period (week, month, campaign) and trackin…

Coljuegos is Colombia's national regulator of games of chance. Colombia was the first Latin American country to re…

Coordinated play between accounts to defraud an operator or other players, particularly in poker. A core integrity…

The function responsible for meeting regulatory obligations across licensing, AML, responsible gambling, advertisi…

Complimentary goods and services given to players in proportion to their theoretical win: food, rooms, travel, eve…

A reporting basis that restates current-period results at the prior period’s exchange rates, isolating underlying…

Net gaming revenue less the direct costs of earning it: gaming tax, platform and content fees, payment processing…

Conversion rate is the percentage of users who move from one stage of the acquisition funnel to the next, most oft…

A short, self-imposed break from gambling during which an account is locked. Shorter and less binding than self-ex…

A condition in a loan or bond agreement that the borrower must satisfy, commonly a maximum leverage ratio or a min…

Cost per acquisition is a flat fee an operator pays an affiliate or media partner for each new player who deposits…

A game in which a multiplier rises from 1x and can stop at any moment, with players cashing out before it crashes…

The systems and campaigns operators use to communicate with, segment, and retain players across email, SMS, push,…

An operator whose deposits, balances, and withdrawals are denominated in cryptocurrencies, typically licensed offs…

An online gambling licence issued in Curaçao, now granted directly by the Curaçao Gaming Authority under the Natio…

An interface design that steers a user toward a choice they would not otherwise make, by exploiting default settin…

A real-time stream of odds, scores, or events supplied by a sports data provider to operators for use in pricing a…

Daily Active Users and Monthly Active Users. Engagement metrics borrowed from broader digital products, increasing…

An exchange registered with the Commodity Futures Trading Commission to list derivatives contracts for trading by…

The settlement rule applied when two or more selections tie for a paying position. The stake is divided by the num…

The European odds format, expressing total return per unit staked including the stake itself. Odds of 2.50 return…

Free-to-play access to real-money games, allowed in some jurisdictions and restricted in others (notably the UK fo…

A cap on the amount a player can deposit over a defined period, set by the player, the operator, or by regulator-m…

A CFTC-registered clearing house that stands between the two sides of every trade on a derivatives exchange, guara…

Identifying a customer's device from the combination of its browser, operating system, hardware and network charac…

A US-originated product category where players pay an entry fee to build a virtual roster of athletes and win priz…

The New Jersey Division of Gaming Enforcement, the state regulator for online and land-based gambling and a benchm…

La Dirección General de Ordenación del Juego (DGOJ) is Spain's national gambling regulator, part of the Ministry o…

Direcção de Inspecção e Coordenação de Jogos. The Macau gaming regulator overseeing the world's largest casino mar…

A remedy requiring a party to give up money obtained through unlawful conduct. It is restorative rather than punit…

A B2B contract under which a studio or aggregator licenses content to an operator or platform, covering territorie…

A registered account with no activity for a defined period. Subject to operator and regulator rules around balance…

A lottery game whose winning numbers are selected at a scheduled draw after tickets have been sold, such as nation…

In land-based casino accounting, the total value of cash and credit instruments taken in at a table or machine. Wi…

The pre-contract review of a counterparty covering licence status, beneficial ownership, AML controls, and financi…

A third-party account holding a stored balance that funds payments without exposing card or bank details to the me…

Two bets in one, staking equally on a selection to win and to place. Standard in horse racing and increasingly com…

Deferred acquisition consideration payable only if the acquired business meets agreed performance targets after co…

Earnings before interest, tax, depreciation, and amortisation. The headline profitability metric reported by liste…

Enhanced due diligence is the deeper level of customer checks, including source of funds and source of wealth, app…

The European Gaming and Betting Association (EGBA) is the Brussels-based trade association representing leading on…

A land-based slot or video gaming machine that takes stakes and determines outcomes electronically. Known as pokie…

EGR, originally eGaming Review, is a long-running B2B media brand covering the online gambling industry, publishin…

Fully electronic identity verification using database lookups, document scanning, and biometrics, replacing tradit…

A sponsorship structure where an athlete, celebrity, or influencer is paid to promote an operator. Subject to grow…

A regulatory penalty (fine, licence condition, suspension, or revocation) imposed on an operator or key person for…

An affiliate’s commission earned divided by the clicks sent to an operator over a period, expressed per click or p…

A reporting and investment framework increasingly applied to gambling operators, covering responsible gambling, AM…

A vertical covering wagers on competitive video gaming. A growing product category with its own integrity bodies,…

A derivative whose payout depends on whether a specified event occurs, typically settling at a fixed value if it d…

The average result of a bet if it could be repeated indefinitely, calculated by weighting each outcome by its prob…

A bond issuer downgraded from investment grade to speculative grade. The transition forces mandate-driven selling…

The constitutional principle that valid federal law overrides conflicting state law. In gambling it is the argumen…

A player who has just made their first deposit. The conversion of a registration into an FTD is a primary commerci…

The suitability assessment a gambling regulator applies to a licence applicant and to its owners, controllers and…

A retail betting machine offering casino-style content at fixed odds. Subject to high-profile UK stake limit reduc…

The traditional British odds format, expressing profit relative to stake. Odds of 5/1 return five units of profit…

A long-term commercial arrangement granting a partner the right to operate under an established brand, common in r…

The teams and systems that detect bonus abuse, payment fraud, account takeover, multi-accounting, and collusion ac…

A promotional stake credited by an operator, where any winnings are paid but the stake itself is not returned. The…

Cash generated by operations after capital expenditure. The measure that shows whether reported earnings are actua…

A bonus mechanic that allows a number of slot spins at no cost to the player. Carries specific accounting treatmen…

A gambling-style product played without real-money stakes, such as a social casino app or a free-to-enter sportsbo…

The sequence of states a player moves through (visit, register, verify, deposit, wager, retain). The unit of analy…

A bet on the outcome of a competition or season rather than a single event, such as the winner of a league, a tour…

A CFTC-registered intermediary that accepts orders and holds customer money for trading on a derivatives exchange.…

G2E (Global Gaming Expo) is the annual gaming industry trade show in Las Vegas, presented by the American Gaming A…

An optional double-or-nothing bet offered after a winning spin on a slot or similar game, typically guessing a car…

A former UK charity that commissioned gambling harm research, prevention and treatment, funded mainly by voluntary…

The public authority that licenses gambling operators and suppliers in a jurisdiction, sets and enforces the condi…

A British charity providing information, advice and treatment for gambling harm, and operator of the National Gamb…

A live casino format combining a human presenter with a physical wheel or device and digital overlays, played by l…

A B2B supplier that designs and develops casino games (slots, table games, live games, crash games) for distributi…

The tax levied on gambling activity. Structure varies dramatically by jurisdiction, from GGR-based to turnover-bas…

The UK national self-exclusion scheme, mandatory for all UKGC-licensed online operators. Allows players to self-ex…

The General Commercial Gaming Regulatory Authority of the United Arab Emirates, established in 2023 to regulate li…

The EU's General Data Protection Regulation, applied since May 2018 and retained in UK law as the UK GDPR, which g…

Technical restriction of access to a gambling service based on the player's geographic location, typically by IP a…

The Gemeinsame Glücksspielbehörde der Länder, the joint German gambling authority for online gambling, operational…

Total player stakes minus player winnings. The headline revenue figure for operators and the basis for many regula…

A long-standing online gambling licence issued by the Government of Gibraltar. Historically dominant for operators…

A leading independent testing laboratory for gambling technology, certifying games, RNGs, and platform components…

A window after a merger agreement is signed during which the target may actively solicit competing offers, usually…

GRA is an acronym shared by several gambling regulators, most prominently the Gambling Regulatory Authority of Sin…

Operating in a jurisdiction where the legal framework is unclear or doesn't specifically address online gambling.…

The Gambling Supervision Commission (GSC) is the Isle of Man's gambling regulator, licensing and supervising onlin…

Placing a bet that offsets an existing position so as to lock in a profit or cap a loss whatever the result, done…

HGC, the Hellenic Gaming Commission, is the English name for EEEP, the independent administrative authority that r…

The proportion of spins or rounds that produce any win, distinct from how much those wins pay. A core measure of a…

Hold percentage is gross gaming revenue expressed as a percentage of handle over a period: the margin an operator…

The parent corporate entity above operating subsidiaries holding gambling licences. Used to structure tax, liabili…

A statutory contribution from bookmakers to fund horse racing. In Britain the Horserace Betting Levy takes 10% of…

The operator's structural mathematical advantage in a casino game, expressed as the percentage of each stake retai…

A casino game where the operator is the counterparty to all player bets, as opposed to player-versus-player produc…

An affiliate commercial structure combining CPA and revenue share, balancing upfront predictability with long-tail…

An industry body operating a cross-operator monitoring network that reports suspicious betting activity to sports…

ICE is the major annual international gambling trade exhibition, organised by WorldGaming (formerly Clarion Gaming…

The integrated technology stack that powers an online gambling operator. Typically combines PAM, payments, content…

iGaming Business, a major industry publication and event franchise covering online gambling commercially and edito…

The Illinois Gaming Board (IGB) is the state regulatory and law enforcement agency that oversees licensed casino g…

The Ontario entity that stands as the conduct-of-gaming operator for the province's regulated online market, contr…

The Indian Gaming Regulatory Act (US, 1988). The federal framework establishing tribal sovereignty over gaming on…

The sale of lottery products online and through apps, by or on behalf of a state or national lottery: draw-based g…

An accounting charge recognising that an asset is worth less than its carrying value on the balance sheet. It redu…

The probability of an outcome implied by its odds. Derived by inverting the price, it is the bridge between a book…

A game development capability owned by an operator group rather than a third-party supplier. Increasingly common a…

Sports betting on events while the event is in progress, with odds updated in real time. A large share of sportsbo…

A regulator’s term for any offer, bonus, free bet, boost, rebate or reward intended to encourage a person to open…

Acquisition and brand activity using social media creators with engaged followings, increasingly used in gambling…

Withdrawal flows that pay winnings to the player in near-real-time, typically via faster payment rails, open banki…

A game whose outcome is determined at the moment of purchase and revealed by the player, the online form of the lo…

The technical and commercial work required to connect a supplier's services to an operator's platform. The currenc…

Systematic surveillance of betting markets for patterns suggesting corruption, such as unusual price movement, aty…

The fee paid by the merchant’s acquirer to the cardholder’s issuer on each card transaction. The largest component…

A credit rating of BBB minus or Baa3 and above, marking an issuer as relatively low default risk. The threshold de…

In casino content, intellectual property usually means the brands, characters, music and other content that studio…

Combining player contributions across operators or markets to fund larger progressive jackpots, increasing prize p…

A jointly-owned operating entity created to combine partner capabilities, common in market entry and tribal-state…

A third party that brings VIP players to a casino, traditionally providing credit and travel arrangements. Histori…

A regulatory territory with its own licensing framework and gambling law. The fundamental unit of operator market…

The gambling regulator of the Mohawk Territory of Kahnawake in Quebec, Canada. One of the longest-running offshore…

A licence condition requiring an operator to notify its regulator within a set period of specified significant eve…

A quantitative metric used to track and report business performance. iGaming uses a standardised set of operator K…

The Dutch gambling regulator. Opened the Dutch regulated online market in October 2021 and has been actively enfor…

The corporate-counterparty equivalent of KYC, applied to operator due diligence on suppliers, affiliates, and B2B…

The identification, verification, and risk assessment of players, performed at onboarding and refreshed periodical…

A physical casino property offering table games and electronic gaming machines on site. It is licensed, supplied a…

A bet that an outcome will not happen, placed on a betting exchange by a customer acting as the bookmaker: the lay…

The process of generating prospective player records through marketing activity, before formal registration. Less…

A measure of indebtedness, most often net interest-bearing debt divided by EBITDA, expressed as a multiple. It ind…

The amount a sportsbook would pay out on a market or selection if it wins, net of the stakes it would keep on the…

The legal authorisation to conduct gambling activity in a jurisdiction, issued by the relevant regulator after a d…

The Great Britain regulatory rulebook applying to every Gambling Commission licensee, combining binding licence co…

A regulatory action temporarily preventing an operator from continuing to take new business while licensing concer…

Comparing the same market across multiple sportsbooks and betting wherever the price is best. The lowest-effort, h…

The active player volume on player-versus-player products (poker, betting exchanges, peer-to-peer markets). Critic…

Casino games hosted by live human dealers and streamed to players in real time. The fastest-growing casino categor…

The continuous operation and optimisation of live promotions, events, and content drops, borrowed from mobile gami…

Adapting product, content, and marketing to a specific market's language, payment methods, regulatory rules, and c…

A purchasable in-game container whose contents are randomised and unknown before opening. A recurring test case fo…

A responsible-gambling control capping how much a player can lose over a set period. Set by the player, or imposed…

A structured engagement and rewards programme tied to player activity, with tiered status, points accumulation, an…

The projected total revenue from a player across their full relationship with the operator. Compared against CAC t…

Mergers and acquisitions are transactions in which companies combine, or one company buys control of another or of…

The UK tax on the net takings of gaming machines, charged at rates that vary with the maximum stake and prize a ma…

A B2B service in which a supplier prices markets, manages risk and settles bets on behalf of a sportsbook operator…

The structural profit built into operator pricing. Used distinctly for bookmaker margin (sportsbook), house edge (…

Markers of harm are behavioural and transactional signals in a customer's account, such as escalating deposits, ch…

The right to operate in a regulated market, often acquired through partnership with a licensed local entity (US st…

A firm that quotes both buying and selling prices in a market, profiting from the spread between them and providin…

Corrupt arrangement of sporting outcomes to enable profitable betting, typically through coordinated betting and p…

A contractual definition of the kind of deterioration in a target’s business that lets a buyer walk away from a si…

The maximum payout a slot can award, expressed as a multiple of stake or an absolute amount. The cap is part of th…

The merchant category code card schemes assign to betting, casino, lottery and similar gambling transactions, iden…

The commercial rights to distribute live or recorded sporting content, foundational for sportsbook in-play product…

A licensed slot mechanic using variable symbol counts per reel to change the number of winning ways on every spin,…

The Malta Gaming Authority (MGA) is the regulator of gambling in and from Malta. Its licences are held by hundreds…

The Michigan Gaming Control Board (MGCB) is the state regulator of Michigan's commercial casinos and of the online…

The Massachusetts Gaming Commission (MGC) is the state regulator of Massachusetts's commercial casinos and of its…

Betting on very short-horizon events within a match, such as the outcome of the next pitch, play or point, settled…

Betting both sides of a market at different lines so that a result landing between them wins both bets. Created by…

Moving an operator from one platform to another, typically a major multi-year project with significant operational…

The named individual within a gambling operator responsible for its anti-money-laundering function: receiving inte…

A person whose payment account is used (knowingly or not) to move illicit funds. A specific AML risk vector that o…

A bet on which side wins outright, with no handicap applied. The simplest wager in US sports betting, priced in Am…

MOSES (Multi-Operator Self-Exclusion Scheme) lets a person in Great Britain self-exclude from multiple land-based…

The discipline of identifying when a single individual operates multiple accounts at an operator, breaching terms…

Operating multiple consumer brands within a single licensed entity or operator group, targeting different segments…

A strategy and capability of serving players consistently across web, mobile web, app, and (where relevant) retail…

A poker tournament in which players start with equal chips across many tables that consolidate as players are elim…

A slot or game feature that multiplies a win by a stated factor, from a fixed 2x on a symbol to progressive multip…

A progressive jackpot guaranteed to pay before it passes a stated value or deadline. Also marketed as a drop-by, d…

Net cash flow, in gambling reporting, is a cash-based measure of operator economics: player deposits minus withdra…

A shared platform aggregating player liquidity across multiple operators, used in poker, bingo, and some progressi…

A promotional offer designed to convert newly registered players to first depositors and engaged ongoing players.…

The South African gambling regulator at national level, working alongside provincial regulators. South Africa is o…

The Nevada Gaming Commission, the licensing body for Nevada gambling working alongside the Nevada Gaming Control B…

The Nevada Gaming Control Board, the operational regulator of Nevada gambling working alongside the Nevada Gaming…

NGR (net gaming revenue) is gross gaming revenue minus the cost of bonuses and other deductions defined by the ope…

An operator targeting a specific vertical, demographic, or aesthetic segment rather than the broad mass market. Bi…

The National Indian Gaming Commission (NIGC) is the independent US federal agency, created by the Indian Gaming Re…

A term in an affiliate revenue-share agreement under which a month in which the affiliate’s referred customers win…

A written statement from a regulator’s staff that they do not intend to recommend enforcement action against descr…

A no-deposit bonus is a small amount of bonus funds or free spins credited to a new customer on registration, with…

A provision barring a target from soliciting or negotiating rival offers once an acquisition is signed, subject to…

A promotional improvement to the price of a selection, offered by the operator on chosen markets or as a token the…

A real-time stream of priced betting markets supplied to operators by trading suppliers, enabling sportsbook produ…

A US Treasury Department agency administering economic sanctions. OFAC sanctions lists are checked by operators as…

Match data distributed under licence from a sports governing body, usually through an exclusive commercial partner…

A gambling licence issued by a jurisdiction outside the market where the operator's players are located. Used hist…

A strategy explicitly integrating land-based and online operations, with shared loyalty, marketing, and player dat…

The process of registering, verifying, and orienting a new player. The most heavily measured and optimised step in…

Oficiul Naţional pentru Jocuri de Noroc. The Romanian gambling regulator overseeing a licensed online market that…

Bingo played in a virtual room, with numbers drawn by an RNG against cards the player has bought, in the American…

A reel-based casino game of pure chance in which a certified random number generator decides each spin, with the r…

A regulatory framework requiring banks to provide standardised API access to account data and payment initiation.…

The B2C-licensed entity offering gambling products to players. The accountable licence holder regardless of which…

The shortfall between a tournament’s guaranteed prize pool and the total of the buy-ins actually received, which t…

The amount by which the implied probabilities of all outcomes in a betting market sum to more than 100%. The techn…

The Philippine Amusement and Gaming Corporation (PAGCOR) is the state-owned body that both regulates gambling in t…

An obvious mistake in a published price, line or market, such as a reversed spread, a price far out of line with t…

The core platform layer holding the player account, balance, transaction history, KYC state, and bonus liabilities…

The internal specification of a slot’s mathematics: reel strips, symbol frequencies, paytable and the resulting re…

A pooled-betting model used primarily in horse racing, where bets are pooled and payouts calculated from the pool…

A frictionless onboarding model pioneered by Trustly where the player's first deposit also performs identity verif…

The time it takes for a cohort of acquired customers to generate cumulative net gaming revenue equal to the cost o…

A defined pattern of symbol positions across a slot’s reels that pays when matching symbols land on it. Modern tit…

Enforcement that cuts off the money rather than the website, by requiring banks and payment providers to refuse tr…

A layer that routes transactions across multiple PSPs to optimise success rates, costs, and compliance signals. A…

The underlying networks (card, ACH, faster payments, crypto, e-wallets) that move money. The choice of rails shape…

A category of higher-risk customer (senior public officials, their family members and close associates) subject to…

The individual licence Britain's Gambling Commission requires people in specified senior roles at a licensed opera…

The Pennsylvania gambling regulator. Oversees one of the largest US regulated online markets alongside Pennsylvani…

A nine-question screening instrument, scored from 0 to 27, used in population surveys to classify respondents as n…

Brazil’s instant payment system, operated by the Banco Central do Brasil. Free for consumers, settled in seconds,…

A B2B supplier of the core PAM, back office, and (often) sportsbook or casino integration that licensed operators…

The regulatory requirement that player balances be held in accounts separate from operator operating funds, often…

The combined set of active players sharing a poker or bingo network. Its size determines how quickly tables fill,…

The broader compliance discipline covering responsible gambling, affordability, vulnerability detection, and custo…

A tax levied based on where the player is located rather than where the operator is licensed. The dominant tax str…

A handicap applied to level a mismatch, requiring the favourite to win by more than a set margin for the bet to pa…

A threshold of exposure above which an exchange may ask a participant to explain a position, provide information o…

A hard cap on the size of position any one participant may hold in a contract. Distinct from a position accountabi…

A server-to-server notification sent from an operator to an affiliate or tracking platform when a tracked event oc…

Digital advertising paid on a per-click basis, typically via Google Ads and Microsoft Advertising. A core acquisit…

A venue where participants trade contracts that pay out according to the outcome of a future event, with the trade…

The total amount paid to winners of a lottery draw, a poker tournament, a bingo game or a promotion, formed from e…

Automated buying of display, video, and native ad inventory through real-time bidding platforms. A scalable acquis…

A prize pool that grows by taking a small share of each qualifying stake until it is won, then resets to a seed va…

A wager on an occurrence within a sporting event rather than its result, such as how many points a named player sc…

Operator-owned technology stack, in contrast to licensed third-party platforms. The choice between proprietary and…

A cryptographic method letting a player verify that a game outcome was determined before their bet and not altered…

A licensed payments company that processes deposits and withdrawals between players and operators. The B2B layer i…

A bet that ends exactly on the line, so neither side wins. The stake is returned and, in a multiple, the leg is us…

A push notification is a message an operator's mobile app sends directly to a player's device, even when the app i…

A deposit that meets minimum threshold and product criteria to trigger a welcome bonus, free bet, or affiliate CPA…

The discipline of testing software, content, and integrations before deployment. Particularly important in gamblin…

The commission a poker room takes from each cash-game pot, usually a percentage of the pot up to a fixed cap per h…

A share of the rake a player has paid returned to them as a loyalty reward, either directly by the poker room as a…

Bringing a lapsed or dormant customer back to play, usually through targeted CRM offers and messaging, as distinct…

Gambling activity involving actual currency wagers and prizes, as distinct from social casino or free-to-play prod…

An on-screen reminder showing elapsed session time and often net position, interrupting play at set intervals. Man…

The accounting process of matching transactions across systems (PAM, cashier, PSPs, banks) to confirm financial ac…

A jurisdiction with explicit licensing framework, technical standards, and regulatory supervision of gambling acti…

Regulatory returns are the periodic reports a licensed operator files with its regulator on revenue and tax, custo…

A framework for testing new gambling products or technology in a controlled environment with regulator engagement…

A negotiated resolution of a regulator's enforcement case in which the licensee accepts findings, agrees remedial…

A deal between a company and someone connected to it, such as a director, executive, major shareholder or an entit…

A promotional offer targeted at existing players to incentivise additional deposits beyond the welcome bonus. A co…

The UK tax on the profits of online gaming operators from customers in the United Kingdom, charged on gross gaming…

The operator-level discipline and regulatory framework around preventing and mitigating gambling-related harm. One…

The discipline and metrics around keeping acquired players engaged over time. The inverse of churn and the foundat…

An affiliate commercial structure paying ongoing percentage of net revenue from acquired players. The historical a…

A sum the buyer pays the target if the buyer fails to complete an agreed acquisition, typically because financing…

A feature allowing players to cancel pending withdrawal requests and return funds to playable balance. Removed or…

The B2B server-side platform that hosts game logic, RNG, and game state for casino content distributed to operator…

The structured approach an operator uses to identify, assess, monitor, and respond to financial, regulatory, opera…

The principle that anti-money laundering resources should be directed in proportion to assessed risk, applying enh…

The certified algorithmic system generating random outcomes for casino game results. A foundational technical and…

An M&A strategy of consolidating multiple smaller operators or suppliers into a single larger group, common in B2B…

Shares in a target that existing holders agree to exchange for shares in the acquiring vehicle rather than cash, s…

A wager that automatically splits a group of selections into every possible smaller parlay combination, each stake…

The long-run percentage of stakes returned to players in a given casino game. Mandatory disclosed in most regulate…

In British and Irish horse racing, the deduction applied to winnings on a fixed-odds bet when a horse is withdrawn…

A subscription-based software delivery model where the supplier hosts and operates the platform, with operators co…

A multi-leg bet whose selections all come from a single event, priced to account for the correlation between them.…

The continuous compliance process of checking player and counterparty records against OFAC, UN, EU, and other sanc…

A formal regulatory filing by an operator to the relevant Financial Intelligence Unit about suspected money launde…

A major industry trade publication and conference organiser. Heavy focus on betting industry conferences and award…

A slot symbol that pays or triggers a feature wherever it lands, without needing to sit on a payline. The standard…

A court-approved procedure under UK and similar company law used to implement a takeover, requiring shareholder ap…

An integration model in which the operator holds the single player balance and the game supplier calls the operato…

The discipline of dividing the player base into actionable groups based on behaviour, value, demographics, and ris…

The process by which a designated contract market lists a new product on its own written certification that the pr…

A player-initiated mechanism preventing access to gambling services for a defined period. A foundational responsib…

Recording marketing and analytics events on the operator’s or affiliate’s server instead of in the visitor’s brows…

The contract by which a buyer acquires the shares of a company rather than its individual assets. The definitive d…

Pooling of player liquidity across multiple operators, markets, or jurisdictions to improve product quality on pee…

A bettor whose action is treated by sportsbooks as informative about the true price. Identified by consistently be…

An optional additional wager on a table game, settled on a specified event rather than the main hand. Side bets al…

A shared record letting multiple operators see a player’s aggregate activity across all of them, so affordability…

A different brand operated by the same operator group, often on the same underlying platform but with differentiat…

A poker tournament with a fixed number of seats, usually one table of six or nine, that starts as soon as the seat…

A game whose outcome is determined predominantly by player skill rather than chance, which in many jurisdictions p…

An operator brand running on another company’s licence, platform or shared player pool. The term is common in poke…

Casino-style games played with virtual currency that cannot be redeemed for money or prizes. Revenue comes from se…

The compliance verification of where a player's gambling funds originated, distinct from source of wealth (which a…

The compliance verification of how a player accumulated their overall wealth, applied to higher-risk customers esp…

The Brazilian gambling regulator, established to oversee the regulated online sports betting and gambling market t…

The Swedish gambling regulator. Sweden re-regulated its online gambling market in 2019, with Spelinspektionen as t…

The Danish gambling regulator. Denmark has had one of Europe's most mature licensed online gambling markets since…

A major sports data, integrity, and content supplier to operators, sports leagues, and media companies globally. O…

The B2B technology stack providing sportsbook product: pricing, trading, market management, customer-facing UI com…

A cryptocurrency designed to hold a fixed value against a reference asset, usually the US dollar, backed by reserv…

The practice of limiting how much an individual customer may stake, applied selectively according to how profitabl…

A regulatory cap on the amount that can be wagered on a single spin, hand or bet, applied to a product or a custom…

The odds at which a horse or greyhound is returned at the start of a race, determined from the prices available in…

A mandatory charge on licensed gambling operators, set in law and calculated as a share of revenue, used to fund r…

A rapid, near-simultaneous line move across multiple sportsbooks, driven by a wave of correlated money rather than…

A measure of how habitually a player engages with a product, often calculated as DAU/MAU or similar engagement int…

A bonus whose funds are combined with the customer’s deposit into one balance that cannot be withdrawn until the w…

A requirement that online account access and electronic payments be authenticated using at least two independent f…

A second-tier affiliate working through a primary affiliate's network, receiving a share of commissions on traffic…

A parameter added to an affiliate tracking link to identify the page, placement, campaign or creative that produce…

A contractually defined threshold that a rival offer must clear before a target’s board may abandon a signed acqui…

A product structure using virtual currency mechanics with prize redemption to operate under sweepstakes law rather…

The casino games traditionally played at a table against the house: blackjack, roulette, baccarat, craps, casino p…

The percentage commission a B2B supplier (aggregator, payment orchestrator, platform provider) charges on revenue…

A transaction in which a listed company is acquired and its shares are removed from public markets, usually by pri…

A multi-leg bet in which the bettor moves each point spread or total in their own favour, in exchange for a shorte…

The amount a casino expects to win from a player or a machine, calculated from amount wagered multiplied by the ho…

A per-day increase in the price a buyer pays for each day a signed acquisition remains unclosed beyond an agreed d…

An informal industry classification of the highest-priority regulated markets by size, profitability, and strategi…

A content creator, often a social media personality, who shares betting picks and predictions. A specific category…

A bet on whether a combined statistic, most often total points or goals, finishes above or below a line set by the…

The discipline of setting and adjusting prices, managing liability, and responding to market signals in a sportsbo…

The ongoing analysis of customer financial activity to detect patterns indicative of money laundering, fraud, or o…

The anti-money-laundering requirement that identifying information on the originator and beneficiary travels with…

Gambling operated by federally recognised Native American tribes on tribal lands under the Indian Gaming Regulator…

A negotiated agreement between a Native American tribe and a US state setting the terms on which the tribe may con…

A complete operator offering bundled by a B2B supplier, typically including platform, content, payments, and opera…

Total amount wagered over a period, also called "handle" in sportsbook contexts. The volume metric that precedes m…

The discipline of acquiring new players through marketing investment across channels. The strategic complement to…

The natural person who ultimately owns or controls a company, whatever the intervening corporate layers. Identifyi…

The Gambling Commission, the statutory regulator of commercial gambling and the National Lottery in Great Britain,…

Gambling by persons below the legal age threshold (typically 18 or 21 depending on jurisdiction). A categorical op…

A distinct person across the operator's analytics measurement, typically identified through account, device, or cr…

An operator offering gambling services in a market without holding the local licence required by that market's fra…

A jurisdiction with no licensing framework for a form of gambling, where offering it is neither explicitly authori…

Automated rules that flag or block activity happening faster or more often than expected in a time window, such as…

The discipline of assessing, monitoring, and managing risks arising from supplier relationships. A core component…

A defined level of customer identity verification, typically corresponding to permitted activity levels. Operators…

A major product category within gambling: sports betting, casino, poker, bingo, lottery, esports. The primary axis…

The Victorian Gambling and Casino Control Commission (VGCCC) is the independent regulator of gambling in the Austr…

A machine-based casino game in which the player is dealt five cards, chooses which to hold, draws replacements and…

The American term for a bookmaker’s built-in margin, expressed through the price rather than charged as a fee. Als…

The dedicated function managing the highest-value player relationships, including personalised service, tailored b…

Computer-generated sporting events (football matches, horse and greyhound races, motor racing) whose outcomes are…

A bet cancelled before settlement, with the stake returned. Triggered by an abandoned or postponed event, a non-ru…

A characteristic of casino games describing the variance of outcomes around the expected return. High-volatility g…

The amount a player must stake before bonus funds or winnings from them can be withdrawn, usually expressed as a m…

The player's account balance and associated transaction infrastructure. May be a single-product wallet, a unified…

A third-party financial services company offering hosted wallets for consumer payments. Major providers in iGaming…

The discipline of checking customers and counterparties against multiple risk lists beyond sanctions: PEPs, advers…

An HTTP callback mechanism by which one system notifies another of events. Standard infrastructure in B2B iGaming…

A customer whose stakes and losses are so large that their activity alone can move an operator’s results for a per…

A restriction prohibiting gambling advertising during live sport broadcasts, typically running from shortly before…

A model where a B2B supplier provides the full operator platform (licence, technology, content, payments, operatio…

A slot symbol that substitutes for others to complete a winning combination. Variants include expanding, sticky, w…

Tax withheld at source on player winnings, paid by the operator to tax authorities on behalf of the player. Applie…

A data integration format used historically across iGaming B2B integrations, particularly for sports data and odds…

Extended reality (VR, AR) gambling experiences. An emerging product category with limited current commercial tract…

A term used variably in gambling contexts: in racing, the bookmaker's percentage return; in casino, sometimes a sy…

The compliance discipline focused on preventing gambling exposure of persons below the legal age threshold. Encomp…

Year-over-year comparison, measuring change from the same period one year prior. The standard time-comparison fram…

A compliance posture treating certain categories of breach (underage gambling, sanctions violations, self-exclusio…

A regulatory framework that restricts gambling activity to specific geographic zones or specific licensee categori…