- Glossary & Terms For Gambling Trips & Spread Betting Info

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GAMBLING INFO

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Gambling Topics

- Videogame Lotteries

- 52 Card Pickup

- No Limit Casino Poker

- Expected Values

- Ladies' Casino Poker

- Charitable No Limit Gambling

- Casino Blogs

- Five Card Draw

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Daily Terms

Big Blind

Definition:
A required ante which is the amount of a traditional bet (depending on the limits of the game) each player takes turns being the Big Blind.

Cash Option

Definition:
A large jackpot that the winner elects to receive as a lump sum cash payment rather than an annuity

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Glossary & Terms on Gambling Fun and Vacations

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Coloring Up

Definition:
To leave a casino game and trade in your smaller chips for larger chips. For example, five $1 chips for one $5 chip. This makes it easier to carry chips around.

Three of a Kind

Definition:
To have three of the same card, for example, 3 Kings.

Cowboy

Definition:
A King [Card].

Button

Definition:
Something that symbolizes whose turn it is. It is moved around the table.

Annuity

Definition:
A prize paid out in installments, typically over 20 or 25 years

Terminal

Definition:
The Lottery computer (gaming system) that generates tickets.

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Gambling FAQs

Question: How long does an organization need to retain game pieces and records?

Answer:Redeemed and unsold pull tabs for a game must be retained for one year from the end of the quarter in which the activity was reported on a tax return. All other documents, including the deal's game information sheet and flare, purchase invoices or receipts documenting the cost of prizes, accounting and bank records, and receipts documenting eligible uses, must be retained for three years from the end of the quarter in which the activity was reported.