iGaming Glossary

Bet Types describe how a wager is structured and how selections are combined.

Fixed odds betting is a model where the price is agreed when the bet is placed. The payout is calculated from those odds, even if the market price changes later.

House Edge is the mathematical advantage the operator has over the player, expressed as a percentage of total stakes over the long run.

iGaming (interactive gaming) is an umbrella term for online gambling products and services.

An iGaming Operator is the company that runs an online casino or sportsbook brand, holds the licence for it and manages the relationship with players.

Implied probability is the chance of an outcome expressed by the odds. It converts a price into a percentage.

Live Casino refers to casino games hosted by real human dealers and streamed in real time from a studio or casino floor. Players place bets through an online interface while watching the live video feed.

Odds represent the sportsbook’s pricing of an outcome. They reflect the implied probability plus margin (overround), and they determine the potential payout.

Odds formats are different ways of writing the same price. A sportsbook front-end can display decimal, fractional or American odds depending on the market and player settings.

An Online Casino is a digital gambling product offering casino-style games, typically including:

These terms describe when a bet is placed relative to the event.

An RNG (Random Number Generator) is the system that produces unpredictable outcomes in digital casino games (especially slots and many virtual table games). It ensures each spin/round is independent and not influenced by previous results.

RTP (Return to Player) is the theoretical percentage of wagered money that a game returns to players over the long term.

A Sportsbook is the product and operational system that enables sports and event betting. It includes:

Volatility (often used interchangeably with variance in casino) describes how payouts are distributed over time-in other words, how “swingy” a game’s results are for a player.

A wager is a bet placed on an outcome. The stake is the amount of money committed to that bet. In everyday use the two words are often interchangeable.

Connecting an iGaming platform to third‑party services through an Application Programming Interface (API) so systems can exchange data and execute actions automatically.

The operator’s administration panel used to manage day‑to‑day operations and monitor performance and risk.

Casino software is the technology an operator uses to run an online casino: the platform that hosts the games catalogue, handles bets and balances, and reports results.

A system for creating and managing website/app content without needing engineering changes.

A Customer Relationship Management layer focused on player engagement, retention, and lifecycle marketing.

The front-end is the player-facing part of a casino or sportsbook: the website or app that players see and use. It sends requests to the back-end platform through APIs.

Gamification is the use of game-design elements, such as levels, missions and progress tracking, inside a casino or sportsbook product.

An iGaming platform is the core software an operator uses to run online casino and sportsbook brands. It connects player accounts, payments, game content and reporting in one system.

Localization is the adaptation of a casino or sportsbook brand to a specific market. It goes beyond translation and covers content, payments and local rules.

Managed services are operational functions that a B2B provider runs on behalf of an operator, on top of supplying the platform.

An odds API, or odds feed, is a data service that delivers sports fixtures, betting markets, prices and results to a sportsbook platform in a machine-readable format.

The core subsystem responsible for player identity, accounts, and compliance states across the product.

A packaged set of tools (libraries, documentation, sample code) that helps partners integrate specific functionality faster.

A sportsbook platform is the B2B software that lets an operator offer sports betting: from receiving odds and building markets to accepting, settling and reporting bets.

Time to market is the period from the decision to launch a brand, market or feature to the moment it goes live for players.

A “ready‑to‑operate” iGaming setup delivered as a complete package so an operator can launch with minimal in-house development.

The system that stores and manages player funds and determines how balances work across products.

A set of laws, controls, and procedures that gambling operators use to prevent their products from being used to disguise illegal funds or finance criminal activity (including terrorism financing).

A reversal of a card payment initiated by the cardholder via their bank (issuer) after a dispute-often because of alleged fraud, non‑recognition, or dissatisfaction.

Customer due diligence (CDD) is the set of checks an operator carries out to know who the player is and assess their risk level. Enhanced due diligence (EDD) is a deeper level of checks for higher-risk cases.

Deposit: adding funds to a player’s account balance to place bets. Payout: transferring funds from the player’s account back to the player via an approved payout method.

An e-wallet is a digital payment account that stores money or payment credentials and lets a player pay online by logging in to the wallet account.

Tools, processes, and rules used to detect and stop unauthorized or abusive activity-such as stolen cards, account takeover, promotion abuse, multi‑accounting, collusion, or money laundering behaviors.

The process of verifying a customer’s identity and key details (e.g., name, date of birth, address) to meet compliance requirements and prevent fraud and money laundering.

Open banking is a way of sharing bank data and starting payments through secure bank APIs, with the account holder’s consent. In iGaming it is used for account-to-account (A2A) deposits and payouts.

A payment gateway is the technology that securely transfers payment data from the checkout page to the payment processor and returns the result: approved or declined.

The available ways players can fund their account and receive their winnings.

A company that enables businesses to accept and process payments by connecting merchants to payment methods, acquiring banks, card schemes, and alternative payment networks.

Player-set or operator-enforced controls that help customers manage spending and time, supporting safer gambling and compliance.

Source of funds (SoF) is the origin of the money a player uses for deposits. Source of wealth (SoW) is how the player built up their overall wealth.

Transaction monitoring is the automated review of player payments and betting activity against rules and thresholds to detect activity that needs a closer look, such as possible money laundering or fraud.

Bet Monitoring is the ongoing tracking and analysis of betting activity to detect suspicious patterns that may indicate fraud, money laundering, insider betting, match-fixing, promotion abuse, or other integrity risks.

Device fingerprinting is a fraud prevention technique that builds an identifier for a device from its technical attributes. Browser fingerprinting does the same using browser data.

Odds compilation is the process of calculating betting prices for sports events. An odds compiler is the specialist or automated model that sets those prices.

In a sportsbook, Risk Management is the set of processes and controls used to protect the operator from financial, fraud, and integrity risks while maintaining a competitive betting offer.

Sportsbook Trading is the function responsible for creating, adjusting, and managing betting markets and odds. Traders aim to offer attractive prices while controlling exposure and reacting to new information in real time.

Vigorish, or vig, is the commission a sportsbook builds into its odds. In Europe the same concept is called bookmaker margin or overround.

Age Verification is the set of checks used by gambling operators to confirm that a user meets the minimum legal gambling age in a given jurisdiction (commonly 18+ or 21+). It is a core part of KYC (Know Your Customer) and responsible gambling requirements.

A Competitive Market is a jurisdiction where online gambling is legal and served by multiple licensed operators, with clear standards for consumer protection and fair play.

Data Protection (GDPR) describes the legal and operational measures used to protect personal data, especially under the EU General Data Protection Regulation (GDPR). Gambling businesses typically process sensitive datasets (identity, payments, behavior), so privacy compliance is critical.

Geolocation is the process of determining a user’s physical location (country/region) to ensure gambling services are offered only where permitted. Geo-blocking is the enforcement mechanism that restricts or disables access based on location.

Identity verification is the process of confirming that a player is a real person and matches the details given at registration. It is a core step of KYC.

A gambling License is an official authorisation that allows a company to offer gambling products (casino, sportsbook, etc.) in a particular jurisdiction. Licensing is the process of applying for, obtaining, and maintaining that authorisation.

Player Protection refers to policies, tools and controls designed to reduce gambling-related harm, protect vulnerable users, and ensure safe and fair play. It is a central requirement in most competitive markets.

Self-exclusion is a responsible gaming tool that lets a player block access to their gambling account for a chosen period or permanently.

ARPU (Average Revenue Per User) measures the average revenue generated per active user over a given period (day/week/month). It’s useful for comparing monetisation efficiency across brands, markets, channels, or products (casino vs sportsbook).

CAC is the total cost of acquiring a new customer via a specific marketing channel or overall. In iGaming, the definition of “customer” must be clarified: it may mean registrant, FTD, or active depositor.

Churn rate is the share of players who stop being active during a given period. It is the opposite side of retention.

Cohort analysis groups players who share a starting point, such as the month of registration or first deposit, and tracks how each group behaves over time.

A conversion funnel is the sequence of steps a visitor takes to become a depositing player, with the number of users counted at each step.

Conversion Rate is the percentage of users who move from one funnel stage to the next. iGaming funnels are usually multi-step and conversion is tracked at each step.

DAU counts unique users active on a given day, while MAU counts unique users active during a month. “Active” must be defined (login, deposit, wager, gameplay session, etc.).

An FTD is a user who completes their first successful deposit. This is one of the most important acquisition milestones in iGaming because it indicates a shift from interest to monetary intent.

GGR is the operator’s gross revenue from gaming activity before deductions.

A KPI (Key Performance Indicator) is a metric chosen to track progress towards a business goal. In iGaming, KPIs cover revenue, player acquisition, retention and operations.

LTV estimates the total value a player generates over their lifecycle with the operator. It supports decisions on how much you can spend to acquire users (CAC) and still remain profitable.

NGR represents net revenue after subtracting specific costs from GGR. There is no single universal formula-operators and finance functions may define it differently.

NPS (Net Promoter Score) measures how likely players are to recommend a brand, based on one question rated from 0 to 10.

The player lifecycle is the sequence of stages a player goes through with a brand, from the first visit to becoming inactive.

Player segmentation is dividing the player base into groups with similar characteristics, so that content, communication and support can be set up per group.

Retention measures the percentage of users who return and remain active after a defined starting point (registration, first deposit, first bet).

Turnover, called handle in the US, is the total amount of money wagered over a period, before any winnings are paid out.

A security method that requires two separate forms of verification to access an account or complete sensitive actions (e.g., payouts). It typically combines:

An audit trail, or audit log, is a time-stamped record of actions taken in a system: who did what, when and what changed.

Business intelligence (BI) is the collection, storage and presentation of business data in reports and dashboards. Real-time reporting shows figures with a delay of seconds or minutes.

A set of technologies and processes designed to defend services against Distributed Denial-of-Service (DDoS) attacks-attempts to overwhelm servers or networks with massive traffic so the site becomes slow or unavailable.

Disaster recovery (DR) is the plan and infrastructure for restoring a platform after a serious failure, such as a data centre outage or a cyber incident. Two metrics define its targets.

The process of converting data into a coded form so it can only be read by authorized parties using a key. Encryption helps protect sensitive information from interception or unauthorized access.

Latency is the delay between an action and the system’s response, measured in milliseconds. In iGaming it affects live betting, live casino and page speed.

Microservices architecture is a way of building software as a set of small, independent services. Each service handles one function and communicates with others through APIs or events.

Penetration testing, or pen testing, is an authorised security assessment in which specialists test a system for vulnerabilities so they can be fixed.

RBAC (Role-Based Access Control) is a security model where permissions are assigned to roles, and users get access through the roles they hold.

Scalability is a platform’s ability to handle growing load, such as more players, bets or brands, while keeping response times stable.

An SLA (Service Level Agreement) is the part of a contract that sets measurable service standards between a provider and its partner, e.g. between a platform provider and an operator.

SSL (Secure Sockets Layer) and TLS (Transport Layer Security) are protocols that encrypt the connection between a browser or app and a server. TLS is the current version. SSL is outdated, though the name is still widely used.

Uptime is the share of time a system is available to users, shown as a percentage. High availability (HA) is the design approach that keeps a platform running when individual components fail.

A casino lobby is the section of an online casino where players browse and launch games. It is part of the front-end and is managed through the CMS or back office.

A game aggregator is a B2B service that connects an operator’s platform to games from many studios through a single integration.

A game provider, or game studio, is a company that develops casino games and supplies them to operators.

Live game shows are live casino games built around a host, a studio set and TV-style formats, such as a money wheel or dice game with multipliers.

Online slots are RNG-based casino games where symbols land on spinning reels and wins are paid for matching combinations.

Paylines are the lines across a slot’s reels on which matching symbols create a win. Ways to win is an alternative system that pays matching symbols on adjacent reels in any position.

An RGS (Remote Gaming Server) is the server that hosts casino game logic. It runs the RNG, applies the game maths and calculates the result of each round.

Table games are casino games based on cards, a wheel or dice, originally played at a physical table. Online they come in RNG and live dealer versions.

A bet builder, called a same game parlay (SGP) in the US, is a feature that lets players combine several selections from one event into a single bet.

Bet settlement is the process of grading bets as won, lost or void once the result is known, and updating player balances. A void bet is cancelled and the stake is returned.

A bet slip (betting slip) is the part of the sportsbook interface where selections are collected, the stake is entered and the bet is confirmed.

A betting market is a specific question about an event that players can bet on, with a set of possible outcomes (selections), each with its own odds.

BTTS (Both Teams to Score) is a football market on whether each side scores at least one goal during the match.

Double chance and draw no bet (DNB) are football markets that change how a draw affects the bet.

An each way bet is two bets of equal stake on one selection: one to win and one to place, i.e. finish in one of the top positions. It is common in horse racing and golf.

Esports betting is betting on competitive video game matches and tournaments, offered in the sportsbook alongside traditional sports.

Handicap betting gives one side a virtual head start or deficit before the event begins. The bet is settled on the result after the handicap is applied.

A moneyline is a bet on which side or player wins the event, with no handicap or point spread.

Outright betting, called futures in the US, is betting on the final result of a competition or season, such as the league winner.

Over/under, or totals, is a market where players bet on whether the total number of goals, points or other units will be above or below a line set by the sportsbook.

Virtual sports are computer-simulated sports events, such as football, horse racing or tennis, with outcomes generated by an RNG and shown as animation.