iGaming Terms by Topic: 180 Definitions

The online gambling industry speaks in acronyms and borrowed words, and the same term can mean different things on a trading floor, in a compliance department and on an earnings call. This page is the by-topic companion to the iGaming Glossary, the site's A to Z of more than 400 terms with a full entry, worked examples and FAQs for each. Here the terms are grouped by area and defined in a sentence or two, so that someone joining the industry, reporting on it or doing business with it can read a whole domain's vocabulary at once; each term links to its full entry where one exists. Definitions are the industry's ordinary usage; where a regulator or a contract defines a term differently, the regulator or the contract wins.

Business and finance

Handle (turnover, stakes, amounts wagered). The total amount bet. A volume measure, not revenue.

GGR (gross gaming revenue, gross win). Stakes less winnings paid out. The operator's gross revenue and the usual tax base.

NGR (net gaming revenue). GGR less bonuses, gaming tax, payment costs and other deductions defined by the operator. The base for most revenue shares.

Hold. GGR as a percentage of handle, used mainly for sports betting. Structural hold is what the prices imply; actual hold is what results produce.

Margin. Used loosely for hold, house edge or overround; in trading, the overround built into a market.

House edge. The share of each stake a casino game retains on average; the complement of RTP.

RTP (return to player). The share of stakes a game returns to players over the long run, typically 92 to 98 per cent for slots.

Contribution. Revenue less the direct costs of earning it (tax, content, payments, marketing).

EBITDA. Earnings before interest, tax, depreciation and amortisation. The standard profitability and valuation measure. Adjusted EBITDA adds back items the company deems non-recurring.

Actives (MAPs, AMPs). Customers who played in a period. Definitions vary by company.

FTD (first-time depositor, NDC). A customer who made a first deposit in the period. The acquisition count.

ARPU (average revenue per user). NGR divided by actives.

CAC (customer acquisition cost). Marketing spend divided by FTDs.

LTV (lifetime value). The NGR a customer is expected to produce over their life.

Payback. Months until a cohort's cumulative NGR exceeds its acquisition cost.

Churn and retention. The share of customers lost, and kept, over a period.

Bonus ratio. Bonus cost as a percentage of GGR.

VIP. A high-value customer, and the segment managing them. Regulators use the term for customers whose spend requires enhanced checks.

B2C and B2B. Businesses serving players (operators) and businesses serving operators (suppliers).

Point of consumption. Taxing or licensing gambling by where the customer is rather than where the operator is. Britain's 2014 reform is the reference.

Grey market. A jurisdiction where online gambling is neither licensed nor effectively prohibited. Distinguished from black markets (prohibited and enforced) and regulated markets.

Drop. In land-based casinos, the cash and chips exchanged at a table or fed into a machine; the base for the hold percentage. Online, deposits play the same role.

Whale. A very high-stakes player whose activity can move an operator's results on its own. The VIP segment's top tier.

Reactivation. Bringing a lapsed customer back to play, usually through CRM; the cheapest acquisition an operator has.

Cohort. All customers acquired in the same period, tracked together so that their deposits, revenue and retention can be compared with earlier and later groups.

Tier-one market. Industry shorthand for a large, fully regulated, high-value market (Britain, the United States, Germany, Ontario, Australia), as opposed to smaller regulated markets and grey markets.

The iGaming KPIs Explained guide connects the financial terms; How iGaming Companies Make Money builds the model.

Casino product

Slot. A reel-based game of chance with an RNG deciding outcomes; the largest online casino product.

RNG (random number generator). The certified software producing the random outcomes of casino games.

Volatility (variance). How widely a game's results spread around its RTP: high-volatility games pay rarely and large, low-volatility often and small.

Hit frequency. The share of spins producing any win.

Paylines and ways. The patterns on which matching symbols pay; "ways" games pay on adjacent reels regardless of line.

Bonus buy (feature buy). Paying a multiple of the stake to enter a slot's bonus round directly. Banned in Britain and some other markets.

Jackpot. A prize larger than the normal pay table; progressive jackpots grow with a share of each stake across a network of games.

Live dealer (live casino). Table games dealt by a human in a studio and streamed, with bets placed on screen.

Game show. Live-streamed games built around a wheel, a board or a presenter rather than a traditional table.

Crash game. A game where a multiplier rises until it crashes at a random point and the player must cash out first. Popular in crypto and Latin American markets.

Table games. Blackjack, roulette, baccarat, craps and their variants, in RNG or live form.

Video poker. A machine poker game against a pay table, with a low house edge for optimal play.

Aggregator. A B2B company integrating many game studios behind a single API for operators.

Studio (provider, supplier). A company making casino games and licensing them to operators for a revenue share.

Certification. Testing of a game or platform by an approved laboratory against a jurisdiction's technical standards.

Sweepstakes casino. A social casino using a dual-currency model to offer cash prizes under sweepstakes law rather than a gambling licence.

Social casino. Casino-style games played for virtual currency with no cash prizes, monetised by purchases.

Wild. A slot symbol that substitutes for others to complete a win; expanding, sticky and walking wilds are variants.

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

Multiplier. A factor applied to a win or a feature, from a fixed 2x to progressive multipliers that build through a bonus round.

Cascading reels (tumble, avalanche). A mechanic in which winning symbols are removed and replaced by new ones falling in, allowing several wins from one spin.

Cluster pays. A slot format paying for groups of adjacent matching symbols on a grid rather than for lines.

Gamble feature. An optional double-or-nothing bet on a win, usually a card colour or suit, offered after a winning spin. Restricted in some markets.

Max win. The largest payout a slot can produce, expressed as a multiple of the stake (5,000x, 50,000x). A marketing figure and, in some markets, a regulatory disclosure.

Must-drop jackpot (daily jackpot). A progressive jackpot guaranteed to pay before a set time or amount, used to keep jackpots frequent and marketable.

Demo play (free play, fun mode). A game played with no real money, for trial. Prohibited to unverified visitors in Britain and some other markets.

Virtual sports. Computer-generated races and matches with RNG outcomes, run continuously and bet on like real sport.

Scratch card (instant win). A game whose outcome is decided on purchase and revealed by the player; the online form of the lottery scratch card.

Tournament (leaderboard). A promotion ranking players by wins, spins or points over a period, with prizes for the top positions.

Stake limit. A regulatory cap on the amount that can be bet per spin or game, such as Britain's limits on online slots introduced in 2024 and 2025 and Germany's one-euro slot limit.

The How Online Slots Work and RTP, House Edge and Margin guides cover the product.

Sportsbook product

Odds. The price of a bet, expressed in decimal, fractional or American format.

Implied probability. The probability a price implies; 1 divided by decimal odds.

Overround (vig, juice, margin, book). The amount by which implied probabilities in a market exceed 100 per cent.

Moneyline. The American term for a straight win market.

Point spread (handicap, line). A head start given to one side to make a market close to even. Asian handicap is the football version with fractional lines.

Totals (over/under). A market on whether the combined score exceeds a line.

Parlay (accumulator, multiple). Several selections combined into one bet; all must win.

Same-game parlay (bet builder). A parlay of selections from one event, priced with their correlations.

Prop (proposition bet). A market on an event within the game, often a player's performance.

Futures (outrights, ante-post). A market on the winner of a competition.

In-play (live betting). Betting during an event at continuously repriced odds.

Cash out. Settling a bet before the event ends at a price offered by the operator.

Each-way. A win bet and a place bet combined, in racing and golf.

Starting price (SP). The odds at the start of a race, used to settle bets placed at SP.

Best odds guaranteed. A promise to pay the larger of the price taken and the SP.

Odds boost (price boost, enhanced odds). A promotional improvement to a price. Regulated as a bonus in most markets.

Trading. Setting and managing prices and liabilities.

Liability. The amount an operator would pay out if a selection wins.

Sharp (wise guy). A skilled, often professional bettor whose bets move markets. Operators restrict sharps.

Closing line value (CLV). The difference between the price a bettor took and the closing price, used to measure bettors' skill.

Exchange. A platform matching bettors against each other and charging commission, allowing bets to be laid as well as backed.

Lay. To bet against an outcome, acting as the bookmaker.

Arbitrage (arb). Backing all outcomes across bookmakers at prices guaranteeing a profit.

Managed trading service. A B2B service supplying prices, risk management and settlement to operators that do not trade themselves.

Official data. Sports data supplied under a rights agreement with the league, as opposed to scraped or unofficial feeds; required by some regulators for in-play betting.

Prediction market. An exchange for contracts on event outcomes priced from 0 to 100, regulated in the United States as derivatives rather than gambling.

Push. A bet that ends in a tie against the line (a spread of exactly the winning margin, or a total landing on the number); the stake is returned.

Void bet. A bet cancelled and refunded under the rules, for an abandoned event, a non-runner, a palpable error or a breach of terms.

Dead heat. Two or more selections tying for a position; the stake is divided by the number of tied selections and paid at full odds on the divided part.

Rule 4. In British horse racing, the deduction from winnings when a horse is withdrawn after a bet is placed, scaled to the withdrawn horse's price.

Palpable error (palp). An obviously wrong price or line published by mistake, which the rules allow the operator to void or resettle at the correct odds.

Stake factoring (account restriction). Limiting the maximum bet an individual customer may place, applied to customers the operator judges to be winning or sharp. A recurring regulatory and consumer complaint.

Pari-mutuel (tote). Pool betting in which all stakes on a market are pooled, the operator takes a percentage, and the remainder is divided among winners; odds are fixed only when the pool closes.

Steam. A sudden, sharp move in a price across the market, driven by heavy or informed money on one side.

Middle. Backing both sides of a market at different lines so that both win if the result lands between them.

Hedge. Placing a bet against an existing position to lock in a profit or limit a loss; cash out is an operator-supplied hedge.

Expected value (EV). The average return on a bet if it were repeated many times; positive EV is what skilled bettors look for and operators' margins are built to deny.

Micro-betting. In-play markets on the next event within seconds (the next pitch, point or play), the fastest-growing and most contested product in American betting.

Settlement (grading). Marking bets as won, lost, void or pushed once the result is confirmed, and paying accordingly; resettlement follows a correction.

The Betting Odds Explained and How Bookmakers Set Odds guides cover the sportsbook.

Poker, bingo and lottery

Rake. The commission a poker room takes from each cash-game pot, usually a percentage up to a cap; the room's revenue.

Rakeback. A share of rake returned to the player as a loyalty reward, directly or through an affiliate.

MTT (multi-table tournament). A poker tournament across many tables with a fixed buy-in and a prize pool paid to the top finishers.

Sit and go. A single-table tournament that starts when the seats fill.

Overlay. The shortfall when entries to a guaranteed-prize-pool tournament do not cover the guarantee; the operator pays the difference, and players value it.

Shared liquidity. Pooling poker players across licensed markets (as France, Spain, Portugal and Italy have done) so that tables fill; the answer to ring-fenced national poker markets.

Collusion and bots. Players cooperating against others, and automated players; the integrity threats poker rooms police with detection software and account closures.

iLottery. Lottery products sold online, usually by or for a state or national lottery: draw-based games, instant win games and subscriptions.

Draw-based game. A lottery game whose winning numbers are drawn at a set time, as opposed to an instant game decided on purchase.

Bingo (75-ball, 90-ball). Numbers drawn against cards, in the American 75-ball and British 90-ball formats; online bingo rooms combine the game with chat and side games, and are licensed separately in some markets.

Prize pool. The total paid to winners in a lottery, bingo game or tournament, after the operator's deduction.

The Poker and Skill Games and Bingo, Lottery and Instant Win courses cover these products.

Marketing and affiliates

Affiliate. A third party sending customers to an operator for a commission.

CPA (cost per acquisition). A fixed payment per referred customer meeting a qualifying condition.

Revenue share. A percentage of referred customers' NGR paid to the affiliate, usually for life.

Hybrid. A CPA plus a reduced revenue share.

NNCO (no negative carryover). A revenue-share term under which a month's negative balance does not carry forward.

Sub-affiliate. An affiliate recruited and paid by another affiliate.

Postback. A server-to-server notification of a conversion event from the operator to the affiliate's tracking.

Sub-ID. A parameter in a tracking link identifying the page, placement or campaign that produced the click.

EPC (earnings per click). Commission earned per click on a link.

Bonus (welcome, deposit match, no-deposit, free spins, free bet, cashback, reload). Promotional credit on conditions; see the bonuses guide.

Wagering requirement (playthrough, rollover). The multiple of a bonus that must be staked before withdrawal.

Sticky and non-sticky. Whether a bonus locks the customer's deposit until wagering is complete.

Inducement. A regulator's term for a bonus or offer encouraging someone to gamble; prohibited in public advertising in Ontario and Australia.

CRM. The systems and practice of retaining and reactivating customers through segmented communication.

Brand bidding. Buying an operator's brand terms in paid search; usually prohibited for affiliates.

Whitelist and greylist. Terms operators use for affiliates approved for a market and for those under review.

The Affiliate Programmes Explained and Casino Bonuses and Wagering Requirements guides go further.

Payments

Acquirer. A bank or processor accepting card payments for a merchant; few accept gambling.

MCC 7995. The card-scheme merchant category code for gambling, which issuers can block.

PSP (payment service provider). A company connecting an operator to payment methods.

Orchestration. Routing transactions across multiple PSPs and methods with cascading on failure.

Open banking. Account-to-account payments authorised through the customer's bank app.

E-wallet. A stored-value account used to deposit and withdraw.

Closed loop. The rule that withdrawals return to the deposit source.

Chargeback. A card transaction reversed by the issuer at the customer's request.

KYC (know your customer). Identity and age verification.

CDD and EDD. Customer due diligence and enhanced due diligence, the standard and heightened anti-money-laundering checks.

Source of funds and source of wealth. Enquiries into where a customer's money came from and how they accumulated it.

Affordability check. An assessment of whether a customer's spend is affordable, required in Britain and the Netherlands at thresholds.

Player funds protection. Segregation or insurance of customer balances against operator insolvency.

Reverse withdrawal. The facility to cancel a pending withdrawal and return the money to play; banned in Britain since 2020 as a harm driver and restricted elsewhere.

Stablecoin. A cryptocurrency pegged to a fiat currency, the main deposit and payout instrument at crypto casinos because it avoids the volatility of other coins.

The Payment Methods in iGaming and KYC and AML Checks guides cover the operations.

Regulation and compliance

Licence. The authorisation to offer gambling in a jurisdiction; B2C for operators, B2B for suppliers.

Regulator. The authority issuing and enforcing licences (the Gambling Commission in Britain, the Malta Gaming Authority, the state commissions in the United States, and so on).

LCCP. Britain's Licence Conditions and Codes of Practice.

Fit and proper. The suitability test applied to licence holders, owners and key people.

Key official (key function holder, MLRO). Named individuals responsible for compliance functions under a licence.

AML and CFT. Anti-money-laundering and countering the financing of terrorism.

SAR (suspicious activity report). A report to the financial intelligence unit of suspected money laundering.

PEP. Politically exposed person, subject to enhanced checks.

Self-exclusion. A customer's request to be barred from gambling; national schemes (Britain's GamStop, the Netherlands' Cruks, Sweden's Spelpaus, Germany's OASIS) cover all licensed operators.

Responsible gambling (safer gambling, player protection). The tools and duties reducing gambling harm: limits, reality checks, time-outs, interaction, self-exclusion.

Deposit limit. A cap on deposits per period, set by the customer or, in some markets, by default.

Reality check. A session-time notification.

Advertising code. The rules governing gambling marketing (the CAP and BCAP codes in Britain, the Reclamecode in the Netherlands, state standards in the United States).

Whistle-to-whistle. The British industry's voluntary ban on television advertising around live sport.

Geo-blocking and geolocation. Preventing access from, or confirming presence in, a jurisdiction.

ISP blocking and payment blocking. Regulators' tools against unlicensed operators.

Blocklist (blacklist). A regulator's published list of unlicensed sites.

Key-event reporting. An operator's duty to notify the regulator of significant events.

Change of control. A transfer of ownership requiring regulator approval.

Regulatory settlement. A negotiated resolution of an enforcement case, usually with a payment.

GDPR. The EU's data-protection regulation, which governs tracking and marketing.

Channelisation. The share of a market's gambling conducted with licensed operators; the measure regulators use for whether a regime is working.

Time-out (cool-off). A short self-imposed break from an account, from a day to several weeks, distinct from self-exclusion.

Single customer view. Sharing data across operators so that a customer's total activity, and harm indicators, can be seen in one place; piloted in Britain under the Gambling Commission's programme.

Statutory levy. A compulsory charge on operators' revenue to fund research, prevention and treatment of gambling harm, replacing voluntary contributions; introduced in Britain in 2025.

Loot box. A video-game purchase with a randomised reward, examined by regulators as a gambling-like mechanic; classed as gambling in Belgium and regulated in several other countries.

Markers of harm. Behavioural indicators (chasing, night-time play, escalating deposits, declined payments) that operators must monitor and act on under British and other rules.

PGSI. The Problem Gambling Severity Index, the nine-question screen used in prevalence surveys and by regulators to estimate the share of a population at risk.

Personal management licence (PML). The individual licence senior managers of a British operator must hold, making them personally accountable to the regulator.

Regulatory returns. The periodic data operators must file with the regulator: revenue, customer numbers, complaints, safer-gambling measures and more.

The iGaming Regulation Explained and iGaming Compliance Checklist guides cover the framework.

Technology

Platform (PAM). The player account management system running the operator's business.

White label. A brand operated on a provider's licence and platform.

Turnkey. A platform supplied to an operator holding its own licence.

API. The interface through which platforms, games, payments and data connect.

Seamless wallet. A game integration in which the operator's wallet is debited and credited per bet, rather than transferring a balance into the game.

Bonus engine. The platform module managing offers and wagering.

Back office. The operator's internal tools.

Data feed. Live sports data supplied to a sportsbook.

Provably fair. A cryptographic method letting players verify that a crypto casino's outcomes were not manipulated.

Server-side tracking. Recording events on the server rather than in the browser, to reduce dependence on cookies.

Uptime and latency. Availability and response time, the service levels platforms are measured on.

RGS (remote game server). The server on which a studio's games run, integrated to operators' platforms so that game logic and RNG stay with the studio.

Device fingerprinting. Identifying a device from its characteristics to detect multi-accounting, bonus abuse and self-exclusion evasion.

Velocity checks. Rules flagging unusual speed or frequency of deposits, bets or account changes as fraud or harm indicators.

The White Label vs Turnkey Platforms guide covers the platform decision.

Frequently asked questions

What is the difference between iGaming and online gambling? None of substance. "iGaming" is the industry's term for online gambling, sometimes narrowed to casino and excluding sports betting, sometimes covering both. The What Is iGaming guide explains the usage.

What is GGR? Gross gaming revenue: stakes less winnings paid to customers. The basic revenue figure and the usual tax base.

What does hold mean? GGR as a percentage of handle in sports betting. Around 5 to 10 per cent for online sportsbooks.

What is an FTD? A first-time depositor: the industry's standard count of new customers.

What is NNCO? No negative carryover: an affiliate revenue-share term resetting negative balances each month.

What is channelisation? The share of gambling in a market that takes place with licensed operators. Regulators use it to judge whether a regime is working.

Related on iGaming Times

The iGaming Glossary is the A to Z with a page per term. What Is iGaming is the starting point. iGaming Basics is the foundation course. iGaming KPIs Explained goes deeper on the financial terms, and Careers in iGaming explains who uses which vocabulary.

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Regulation, tax and market figures move quickly, sometimes mid-year. Where this guide gives a number, treat it as a starting point and confirm the current position with the named primary source before you rely on it.