Casino Glossary

• True Odds

  CasinoStatistics

  The correct mathematical odds. In craps, the odds bet pays out at the true odds, which means the house has no advantage.

• Underlay

  CasinoStatistics

  A bet unfavorable to the player. The opposite of an overlay.

• Variance

  CasinoStatistics

  A measure of how winnings and losses fluctuate over time.