by NoLuckNeeded.com member Holly with poker additions from TDTAT.
Have you ever wondered what a "nickle" bet was? How about a "quarter" bet? Razzle, running the shoe, chase or steaming? If you're anything like me, you're lost, especially when you are standing at a craps table and someone places a wager on a "come bet"? Come on -- what the heck is that? Ever hear the terms rabbit ears, reds, toke ( no, not that), juice, paint, press or what a "vig" is?
The gambling world not only offers its own one-of-a-kind entertainment and excitement but it also offers up some strange vernacular only known to the more seasoned of players. Here is a list of some of the more interesting and all too weird gambling and poker terms.
A "nickle" represents a five dollar chip followed by the "quarter" bet, which represents a twenty-five dollar chip. So far so good.
A "nickle" can also mean $500 dollars. A "dime" means $1000 dollars.
A "come bet" refers to a bet in craps that predicts the shooter will win the next roll.
A "prop" or "shill" refers to a casino employee that is placed in the casino to play and fill up various games.
"Rabbit ears" is a term in keno where all 20 selected numbers are picked.
An over-zealous and reckless gambler is known as a "desperado" or in poker "a fish".
"Rail Bird" is the term for some one who watches a game, such as poker or pool.
"Railing" is watching someone play poker, or rooting for your friend who is playing.
The "Nuts" means you have the very best hand possible.
"Stake Horse" or "Backer" is someone who has given a poker or pool player money to play in a cash game or tournament. They then split the wins with the player.
"Tilt" or "Tilted" is the term used to descibe poker players who have gone crazy for whatever reason.
"Bad Beat" is an over used term in poker, which really means a very good hand, such as 4 of a kind, is beat by a huge hand, such as a royal flush.
*Please note: nobody wants to hear your bad beat stories (not even your Mom.)
"Fish" are bad or new poker players, also called "donkeys".
"Whales" are gamblers that bet big or are very wealthy.
"Nits" are poker players who only play the best hands and rarely gamble.
"Grinders" are players who play a very long time. This can also mean someone playing at a lower limit than they usally play.
"TAGs" are poker players who are tight and agressive.
"LAGs" are poker players who are loose and agressive.
"Felted" is a term for going "busted", or broke playing in a poker game or tournament. It means your chips are no more, there is only the place they once were, the felt on the table is all that is left.
"Stacked" is the same as felted or busted. It means losing your whole stack or all your chips.
"Rivered" is a texas hold'em term, that means you lost on the last community card, called the river or "5th Street".
"Bink" is to win or hit. Such as "I binked the tournament" or I binked an ace on the turn to crack his KK.
"Ship It" is commonly said when a pot it won.
The "rake" is what the casino takes from each poker hand that is played.
Getting "Ran Down" means you had the best poker hand and someone caught a draw with the next community card to beat you.
"Cracked" usally describes a big hand like pocket Aces in texas hold'em getting beat by a smaller hand. As in "My aces got cracked by some donkey on the river".
A "Cooler" is an unlucky person or dealer who can change your good luck to bad with a simple hand shake or shuffle. A cooler can also mean a poker hand that makes it easy to loose all your money with (example: If you have KK and someone else has AA or if you have a King high flush and someone beats you with the "nut" ace high flush).
A "toke" or "comp" is a gratuity and means getting something for free. If you play long enough or bet enough a casino will often "comp" your dinner or give you a free room.
A "paint" card is that of a Jack, Queen, King in Blackjack.
"Press" is to increase the wager after a nice win.
The "juice" or "vig" is the 5% commission that a casino will collect on craps buy and lay bets.
"Steaming" is a very desperate player trying to recoup their losses, also known as a "chase" or "going off" or "tilted".
The seven card stud version of Lowball Poker is known as "razzle".
"Running the shoe" is a Baccarat term used for a player who maintains control of the shoe by only dealing winning bank hands until all the cards are exhausted.
So next time you find yourself on a "junket" in Vegas, whether you are a "grinder" or a "whale", you'll know to sit at "third base" with your "blacks" and "make your point". Enjoy any Juice you can get and get out while you're "hot".
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Anyway, thanks for this post! 
I wonder how much time would it take me to learn all these... still, I prefer blackjack