Gambling terms are basically similar all over the world. What makes Canada unique is the status of gambling in Canada. There are grey areas over the legality of gambling in Canada and this is not really surprising as Canadian laws and the general perception about gambling in Canada is quite different from how it is perceived and supported by laws in the United Kingdom or the United States.
It is important to note that it is not only in Canada that the laws are unsupportive of online casinos, in some states in the United States online casinos are not supported and also in some countries in the world. It was only in 2012 that the first legal Online Casino in Canada was launched and it was restricted to residents of the British Columbia. Despite this hindrance, Canadians still have unperturbed access to Online Casinos but they are mostly done using offshore Online Casinos.
Canadian Gambling License Terms
These gambling license terms that are listed below are gambling terms that are used in Canada. They are similar to the global gambling license terms and there is hardly any distinction apart from some barely noticeable twerk.
These gambling license terms listed below are not exhaustive and contain a selected few out of the many available and used. Only the common gambling terms that are used in everyday gambling activities are listed and explained. You do not need to be a professor of gambling terms; you only need to know common Canadian gambling license terms.
- Action: This refers to the sum of money that a player uses to wager during a gambling game.
- Against the Spread: It is also known by its acronym ‘ATS’. This is a term used to describe the gambling action whereby a player deliberately bets in favor of the underground. The payout for betting against the spread in favor is more lucrative than the payout for betting in favor of the favorite. Against the Spread is also used to describe the points given to the underdogs in a bet.
- All-In: This is a situation especially in Poker when you bet your entire lot on an outcome.
- Bad beat: This is a gambling term used to describe a situation when you lose your bet even though the bet originally seemed to be in your favor.
- Bookmaker: A bookmaker also called a bookie is someone who collects bets from punters, manages their bets and payouts successful bets.
- Burn: This is the action taken after shuffling the cards in poker whereby the top card of the shuffled deck is buried before dealing.
- Buy In: This is the cost (total amount) it takes for a player to participate or play in a card tournament.
- Call: This is a Poker term in which the player matches the amount he or she used to bet previously.
- Card Counting: This is a technique used by players to predict what cards are to be given next. This technique requires keeping track of the cards already in circulation to determine which is still left on the deck. Many Casinos frown against Card Counting and any player caught is thrown out.
- Chalk: This is a slang that is used to describe the favorite.
- Check: This is a situation where the player skips his turn to bet. This action can only be taken when you are not required to take a compulsory betting action.
- Cover: This is a term used to describe a win in sports betting whereby the punter beats the point spread set by the bookmaker or bookie.
- Croupier: This is a term used to describe a dealer in a gambling game.
- Cut: This is a practice used to ensure that the game is fair and not arraigned in favor of one party. Cut occurs when the dealer shuffles the deck and allows the player to his right remove some cards off the top of the deck and position it to the bottom.
- Dealer: This refers to the person who performs the task of shuffling and dealing out the cards to the players.
- Underdog: This is a term used to describe the team that is most likely to lose in a sports bet. Bookmakers and sportsbooks assign higher odds to the underdog when compared to the odds assigned to the favorite and sports bettors stand a chance to win more when they bet on the underdog.
- Favorite: This is a term used to describe the team that is most likely to win in a sports bet. Bookmakers and sportsbooks assign lower odds to the favorite when compared to the odds assigned to the underdog. There is lesser payout for betting on the favorite if the bet is to be successful than what would have been obtainable when betting on the underdog if the bet were to be successful.
- Even Odds: This occurs when both the player and the house have equal chance of winning the bet. It is usually denoted as 1:1 odd.
- Fish: This is a novice or inexperienced gambler that regularly loses money when gambling.
- Future bet: This is a common sports betting terms used to describe bets that are played on future sporting events. For example, bets placed on the winner of a Football League and top goal scorer in a Football League.
- Gambler’s Conceit: This is a term used to describe the gambler’s resolve to stop gambling at a certain point. That point could be when he reaches a certain target or has amassed some wealth.
- Gambler’s fallacy: This is an idea common among gamblers in which they take gambling actions on results that have not occurred before in the hope that that selection stands a high chance of happening in the future.
- Money line: They are betting odds designed by bookmakers and sportsbooks to even the betting odds between the contesting teams. Money line odds shows you the amount of money you risk by choosing the bookmaker’s favorite and the amount of money you can win by choosing the bookmaker’s underdog.
- High Roller: This is a gambler that uses large sum of money to wager.
- Juice: This is a term that refers to the commissions that the betting houses or outlets such as Casinos and sportsbooks collect on bets placed.
- Laying the odds: This is an extremely favorable position in which players stand a chance of winning more than the amount they used to wager on a particular outcome.
- Taking the odds: This is a situation in which the players do not win more than they use to wager on a particular outcome.
- Prop Bets: This is short for proposition bets. Prop bets require the bettor to take a stand or proposition regarding the outcome of a given event. Prop bets are usually in the form of positive and negative such as yes or no, or over and number if it involves a set of numbers.
- Betting Odds: Odds are used to determine how much a sports bettor stands to win.
- Opening Line: This is a term used to describe the initial odds offered by the Sportsbooks and bookmakers.
- Parlay: This is a term used to describe the bet action of placing bets on at least two different odds on a single betting ticket and all selections must be correct in order to receive a payout.
- Pit Boss: This is a term used to describe someone who manages several gambling tables in a Casino.
- Pocket Cards: These are cards which players hold and which only them can see.
- Pot: This is a term that refers to the total sum of money wagered on a poker game.
- Press: This is a term used to describe a situation where you bet more money on an outcome than you would normally have done.
- Push: This is a term used to describe a situation where a bet is tied and there is no winner (neither the betting house or the player wins).
- Raise: This occurs when you bet above the minimum amount.
- Runner: This refers to a person who places bet not for himself or herself but for the benefit of another.
- Shark: This is a term used to refer to a player that preys on other weaker players.
- Fish: This is a term used to describe weak players who are preyed upon by better players.
- Sportsbook: This refers to an online organization that collects and manages odds for sports wagers and issue out payouts when the odds selected are successful.
- Table Limit: This refers to both the maximum and minimum amount of player a player is allowed to use to wager.
- Wager: This is a term used to describe any type of bet.