Poker Lingo
Explanation
Business
Equivalent
All in When a player puts his last chips in a pot. Fully leveraged.
Bad beat Losing a hand when the odds were heavily in your favor. Making a sale only to have the deal fall through because of bad credit.
Cold deck When a new deck is put into a game in order to cheat a player. Receiving payment in cash from an IRS informer.
Drawing Dead Drawing to make a hand that even if you made it, would lose to a better hand. Enron trying to make a comeback.
Floorman The person in charge of a poker game in a casino. The office manager.
Flop The first three community cards in Texas Hold’em. The first quarter.
Call To match or see a bet. To hold a position.
Fade Pay a little extra for something. Suck it up.
Going Light Not having enough chips to cover your bets. Not paying the employees on Friday.
Houseman The person in charge of a private poker game. Your spouse.
Live One A bad player, also known as a mark, a fish or a sucker. A customer who pays retail.
Muck To discard or fold. To divest.
Nuts The best possible hand based on the available cards. Also referred to as "the lock," "the joint," or at times, the "stone-cold nuts." Holding the patent for the next miracle drug that just got FDA approval.
The Pit The "pit" refers to games of chance in the casino such as blackjack, craps, roulette and slots. In the long run, it’s impossible to win in the pit, and could be better described as the "money pit." Day trading.
Rail The outside of a poker game. Also, a bystander, typically broke, who stands on the rail. "Railbirds" are people who hang around poker casinos. Management Consultants.
Stuck When a player is stuck, he or she is losing. Chapter 11.
Tell An action, often involuntary, that gives away information about a player’s hand. A CEO talking up his company just as he’s selling his own shares.
Tilt To lose your composure and play recklessly, like a pinball machine going "on tilt." Buy more stock on margin right after taking a big loss in the market.
Vig Also called the "rake"–the amount of money taken out for the house. Overhead.
© The Poker MBA 2002
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