STAKES - N - CHIPS
OUR POKER WORLD
GLOSSARY
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Keno Anyone?
G L O S S A R Y
Gambling is the wagering of money or something of material value (referred to as "the stakes") on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Typically, the outcome of the wager is evident within a short period.
Betting on team sports has become an important service industry in many countries. For example, millions of Britons play the football pools every week. In addition to organized sports betting, both legal and illegal, there are many side-betting games played by casual groups of spectators, such as NCAA Basketball Tournament Bracket Pools, Super Bowl Squares, Fantasy Sports League with monetary entry fees and winnings, and in-person spectator games like Baseball.
One can also bet with another person that a statement is true or false, or that a specified event will happen (a "back bet") or will not happen (a "lay bet") within a specified time. This occurs in particular when two people have opposing but strongly held views on truth or events. Not only do the parties hope to gain from the bet, they place the bet also to demonstrate their certainty about the issue. Some means of determining the issue at stake must exist. Sometimes the amount bet remains nominal, demonstrating the outcome as one of principle rather than of financial importance.
Betting exchanges allow consumers to both back and lay at odds of their choice. Similar in some ways to a stock exchange, a bettor may want to back a horse (hoping it will win) or lay a horse (hoping it will lose, effectively acting as bookmaker)
ALL IN:
Having bet all of your chips in the current hand.
An ante is a forced bet in which all players put an equal amount of money or
chips into the pot before the deal begins. Often this is either a single unit
(a one-value or the smallest value in play)
some
other small amount; a proportion such as a half or a quarter of the minimum bet
is also common. An ante paid by every player ensures that a player who folds
every round will lose
money (though
slowly), thus providing all players with an incentive, however small, to play
the hand rather than toss it in when the opening bet reaches them.
A blind or blind bet is a forced bet placed into the pot by one or more
players before the deal begins, in a way that simulates bets made during play.
The most common use of blinds as a
betting
structure calls for two blinds: the player after the dealer blinds about half of
what would be a normal bet, and the next player blinds what would be a whole
bet. This two-blind
structure,
sometimes with antes, is the dominating structure of play for community card
poker games such as Texas Hold-em. Sometimes only one blind is used (often
informally as a
"price of
winning" the previous hand), and sometimes three are used (this is sometimes
seen in Omaha). In the case of three blinds (usually one quarter, one quarter,
and half a normal bet amount),
the first
blind goes "on the button", that is, is paid by the dealer.
Backdoor
A draw requiring two or more rounds to fill. For example, catching two consecutive cards in two rounds of seven card stud or Texas Hold-em to fill a straight or flush.
A hand made other than the hand the player intended to make. I started with four hearts hoping for a flush, but I backdoored two more kings and my trips won.
Bank
Also called the house, the person responsible for distributing chips, keeping track of the buy-ins, and paying winners at the end of the game.
Bankroll
The amount of money that a player has to wager for the duration of his or her poker career.
A very chip or money rich player.
To fund someone's participation in a game. As in, "John bankrolled Kate's $5,000 entry fee into the tournament."
Bet
Any money wagered during the play of a hand.
More specifically, the opening bet of a betting round.
In a fixed limit game, the standard betting amount. There were six bets in the pot when I called.
Blinds:
The blinds are forced bets posted by players to the left of the dealer button in flop style poker games. The number of blinds is usually two, but can be one or three.
The small blind is placed by the player to the left of the dealer button and the
big blind is then posted by the player to the left of the person sitting in the
small blind. The one exception to this
rule is when
there are only 2 players (a "heads up" game). In this case the player on the
button is the small blind, and the other player is the big blind.
After the cards are dealt, the player to the left of the big blind is the first
to act during the first betting round. If all players call the big blind, the
big blind is then given an extra opportunity
to raise.
This is known as a live blind. If the live blind checks, the betting
round then ends.
Generally, the "big blind" is equal to the minimum bet. The "small blind" is
normally half the big blind. In cases where posting exactly half the big blind
is impractical due to the big blind
being some
odd-valued denomination, the small blind is rounded down to the nearest
practical value. For example, if the big blind in a live table game is $3 then
the small blind will
usually be $1
or $2 since most casinos do not distribute large quantities of $0.50 poker
chips.
The blinds exist because Omaha and Texas Hold-em are frequently played with out
antes, allowing a player to fold his hand without placing a bet. The blind bets
introduce a regular
cost to take
part in the game, thus inducing a player to enter pots in an attempt to
compensate for that expense.
Bluff:
In the card game of poker, a bluff is a bet or raise made with a hand
which is not thought to be the best hand. To bluff is to make such a bet.
The objective of a bluff is to induce a fold
by at least
one opponent who holds a better hand. The size and frequency of a bluff
determines its profitability to the bluffer. By extension, the term is
often used outside the context of poker
to describe
the acts of pretending to have knowledge one does not have and making threats
one cannot execute.
Boat
Another name for Full House.
Broadway
A 10 through ace straight.
Busted
Not complete, such as four cards to a straight that never gets the fifth card to complete it.
Out of chips. To "bust out" is to lose all of one's chips.
Buy-in
The minimum required amount of chips that must be "bought" to become involved in a game (or tournament). For example, a $4-$8 fixed limit game might require a player to buy at least $40 worth of chips. This is typically far less than an average player would expect to play with for any amount of time, but large enough that the player can play a number of hands without buying more, so the game isn't slowed down by constant chip-buying.
Buy the pot
Making a bet when no one else is betting so as to force the other players to fold, thus winning the pot uncontested. A specialized version of this is "buying the blinds" by making a large raise in the first round forcing all other players out of the game.
To call is to match a bet or match a raise. A betting round ends when all
active players have bet an equal amount or no opponents call a player's bet or
raise. If no opponents call a
player's bet
or raise, the player wins the pot.
The second and subsequent calls of a particular bet amount are sometimes called
overcalls. This term is also sometimes used to describe a call made by a player
who has put money
in the pot
for this round already. A player calling a raise before he or she has invested
money in the pot in that round is cold calling . For example, if in a betting
round, Alice bets,
Bob raises,
and Carol calls, Carol "calls two bets cold". A player calling instead of
raising with a strong hand is smooth calling or flat calling, a form of slow
play.
Calling when a player thinks he does not have the best hand is called a crying call.
Cap
A limit on the number of raises allowed in a betting round. Typically three or four (in addition the opening bet). In most casinos, the cap is removed if there are only two players remaining either (1) at the beginning of the betting round, or (2) at the time that what would have otherwise been the last raise is made.
Also, term for the chip, token, or object placed atop one's cards to show continued involvement with a hand.
Dead blind
A blind that is not "live", in that the player posting it does not have the option to raise if other players just call. Usually refers to a small blind posted by a player entering, or returning to, a game (in a position other than the big blind) that is posted in addition to a live blind equal to the big blind.
Dealer
The person dealing the cards. Give Alice the cards, she's the dealer.
The person who assumes that role for the purposes of betting order in a game, even though someone else might be physically dealing. Also "button". Compare to "buck".
Dealer's choice
A version of poker in which the deal passes each game and each dealer can choose, or invent, a new poker game each hand or orbit.
Declare
To verbally indicate an action or intention.
Deuce
A 2-spot card. Also called a duck, quack, or swan.
Any of various related uses of the number two, such as a $2 limit game, a $2 chip, etc.
Down card
A card that is dealt facedown.
Drop
To fold.
Money charged by the casino for providing its services, often dropped through a slot in the table into a strong box.
To drop ones cards to the felt to indicate that one is in or out of a game.
Flop
The dealing of the first three face-up cards to the board, or to those three cards themselves.
Flush
A hand comprising five cards of the same suit.
Fold
To discard one's hand and forfeit interest in the current pot.
Full house
A hand with three cards of one rank and two of a second rank. Also "boat", "tight"..
Jackpot
A game of "jackpot poker" or "jackpots", which is a variant of five card draw with an ante from each player, no blinds , and an opening requirement of a pair of jacks or better.
A large pool of money collected by the house and awarded for some rare occurrence, typically a bad beat.
Kitty
A pool of money built by collecting small amounts from certain pots, often used to buy refreshments, cards, and so on.
Match the pot
To put in an amount equal to all the chips in the pot.
Misdeal
A deal which is ruined for some reason and must be redealt.
No-limit
Rules designating players are allowed to wager any or all of their chips in a single bet.
Open
To bet first.
Purse
The total prize pool in a poker tournament
To raise is to increase the size of the bet required to stay in the pot,
forcing all subsequent players to call the new amount if they wish to remain in.
If the current bet amount is nothing, this action
is considered
the opening bet. A player making the second (not counting the open) or
subsequent raise of a betting round is said tore-raise.
Stakes
The definition of the amount one buys in for and can bet. For example, a "low stakes" game might be a $10 buy-in with a $1 maximum raise.
Stakes N Chips - Poker Tips and Info
