Betting & Casino Glossary — Plain-English Definitions
Every term a new Filipino bettor bumps into, defined in one line of plain English. Bookmark it and stop guessing what the jargon means.
Sports betting terms
| Term | Meaning |
|---|---|
| Moneyline | A bet on who wins the match outright, with no margin involved. |
| Point spread | A handicap on the margin of victory; the favorite gives points, the underdog receives them. |
| Over/Under (totals) | A bet on whether combined points finish above or below a set line. |
| Parlay | Several bets combined into one; all legs must win, and payout and variance both multiply. |
| Odds | The price of a bet; in decimal form it is your total return per ₱1 staked. |
| Margin (vig / juice) | The bookmaker's built-in edge, the reason both sides are priced above even. |
| Handicap | Points added or removed to level an uneven matchup. |
| Live betting | Wagering on a match already in progress, with odds moving in real time. |
| Stake | The amount of money you put on a single bet. |
Casino & slot terms
| Term | Meaning |
|---|---|
| RTP | Return to Player — the long-run percentage of wagers a game pays back. |
| Volatility | How often and how big a game pays; low is frequent-small, high is rare-large. |
| Wagering requirement | How many times a bonus must be bet before winnings can be withdrawn. |
| Payline / ways | The patterns across the reels that form a winning combination. |
| Wild | A symbol that substitutes for others to complete wins. |
| Scatter | A symbol that triggers free spins or bonuses regardless of its position. |
| Max win | The largest payout a slot can deliver, shown as a multiple of your stake (e.g. 15,000×). |
Account, payment & safety terms
| Term | Meaning |
|---|---|
| PAGCOR | The Philippine government regulator that licenses legal online gaming. |
| KYC | Know Your Customer — a one-time identity check with a valid ID, required before your first withdrawal. |
| InstaPay | Real-time peso transfer rail; caps of ₱50,000 per transaction and ₱500,000 per day. |
| PESONet | Batch transfer rail for larger amounts, settling the same or next banking day. |
| Cashback | A rebate returning part of your net losses, usually tied to a VIP tier. |
| VIP / loyalty tier | A rewards level granting perks like higher cashback and faster payouts as you play. |
| Self-exclusion | A tool to lock your own account for a set period to take a break. |
Using the glossary
These terms link across the Academy: read RTP and volatility in depth on their own pages, and see how margin and variance shape real bets on the sports basics home page. Understanding the vocabulary is half the battle — the maths gets much easier once the words stop being a wall.
Frequently Asked Questions
What does 'juice' or 'vig' mean?
Both are slang for the bookmaker's margin — the built-in edge baked into the odds, equivalent to a casino's house edge.
What is the difference between RTP and volatility?
RTP is how much a game pays back long-term; volatility is how those payouts are distributed — small-and-often versus rare-and-large. They are independent.
What does KYC stand for?
Know Your Customer — a one-time identity verification using a valid government ID, required by PAGCOR rules before your first withdrawal.
What is a parlay?
A single bet combining several selections. Every leg must win for it to pay, which multiplies both the potential return and the risk.