Reference

The openodds Glossary: Every Term You Need

From RTP and house edge to moneyline and KYC, this glossary breaks down the language you'll run into across our sportsbook, slots, and live dealer tables. Know the term, make the call — available where state law permits.

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openodds The openodds Glossary: Every Term You Need
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If a term in our sportsbook, account settings, or promo board isn't clear, our support team can walk you through it. Players in Pittsburgh and Detroit use live chat most often for quick term questions — no ticket needed.

Live Chat Start a chat session from any page in your account. Ask about any term — rollover, RTP, KYC steps — and get a direct answer without leaving the lobby.
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openodds How Knowing These Terms Helps Your Account

How Knowing These Terms Helps Your Account

Betting and casino copy is full of shorthand. When you know what rollover means before you accept a promo, or what volatility tells you about a slot like Star Spangled Slots, you make sharper decisions. The same goes for your account — understanding KYC before your first withdrawal via PayPal or Venmo keeps things moving without delays. This glossary covers the terms

that show up most in our lobby, sportsbook odds board, and account settings, so nothing catches you off guard when it counts.

Core Game and Betting Terms

These are the foundational terms that appear across our slots, table games, and sportsbook. Each definition is kept short and practical so you can look one up mid-session without losing your place.

RTP is the percentage of all wagered money a slot or table game pays back over time. A 96% RTP means the game returns $96 per $100 wagered on average, across many rounds.

House edge is the mathematical advantage the platform holds on any game. A 2% house edge means the house keeps $2 for every $100 wagered on average over a large sample.

Volatility describes how often and how large a slot pays out. High-volatility games like Rapid Reel Dash hit less often but can pay bigger amounts; low-volatility games pay smaller wins more frequently.

A wager is any bet you place on a game or market. Turnover refers to the total amount wagered in a session or within a promotion period — it is what rollover requirements are measured against.

A jackpot is the largest prize a slot can pay, often triggered by a specific symbol combination or bonus round. Prize-style slot features vary by game; check the paytable inside each title.

A live dealer game streams a real human dealer from a studio directly to your device. You see the cards dealt or the roulette wheel spun in real time and place bets through your screen.

Odds, Payments, and Account Language

These terms come up when you're reading an NFL point spread, moving money through Venmo or Play+, or completing identity steps before a withdrawal. Knowing them up front removes friction at exactly the moment you need things to move fast.

A moneyline bet is a straight-up wager on which team wins with no point spread applied. Odds are shown as a positive or negative number — for example, -150 means you wager $150 to win $100.

An over/under line is a sportsbook total set for combined points or runs scored. You bet whether the actual total will be over or under that number, regardless of which team wins.

A same-game parlay combines multiple legs — like a player prop and a moneyline — from a single game into one bet. All legs must win for the parlay to pay; odds multiply across each selection.

Rollover is the number of times you must wager a promo amount before it can be withdrawn. A 5x rollover on a $50 promo means you wager $250 total before those funds become withdrawable cash.

KYC is the identity verification process required before your first withdrawal. You upload a government-issued ID so we can confirm your name, age, and state eligibility — standard practice across all licensed platforms.

An e-wallet is a digital payment account that holds funds separately from your bank. At openodds, PayPal and Venmo act as e-wallets — you fund them once and move money to your account without sharing your bank details directly.

Putting the Glossary to Work in Your Account

Definitions are only half the job — here's how these terms map to actions you'll take inside your openodds account, from funding via PayPal to reading an NFL odds board.

RTP is displayed only where the game or its provider exposes it. Inside titles like Gates of Olympus, tap the info icon before you spin — we show whatever the studio publishes, with no invented figures.

If your session budget is smaller, a low-volatility slot like Classic Blackjack-style slots gives you more rounds per dollar. High-volatility picks suit longer sessions where you can absorb quieter stretches before a bigger feature hits.

Rollover applies only to promo funds, not to straight deposits via Venmo or Play+. Check the promo details before accepting — the rollover amount and qualifying games are listed there.

Head to Account Settings, select Verify Identity, and upload a government-issued ID. Once approved, your PayPal withdrawal request moves to processing — skipping this step holds the withdrawal in a pending state.

The point spread is the margin one team must win by for your bet to pay. If the line is -6.5, that team must win by 7 or more. It levels the field between uneven matchups on the NFL Football Odds Board.

Pick a player prop — say, passing yards over a set total — then add a moneyline or another prop from the same game. Every leg must hit; if one misses, the whole parlay loses regardless of how the others land.
Reference

openodds Betting Glossary

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