Finance

If you are new to casino gaming, there are a lot of casino-related terms that you must first understand right out of the gate; otherwise, your experience might not be that pleasant. While some of the definitions might be rather obvious, being 100% sure about the meaning is vital to avoid even the slightest chance of misinterpretation.

So, as a newbie, before you visit a land-based casino facility or sign up at premium rated platforms such as casino online GG Bet to have a taste of the range of games available, here’s a highlight of the most commonly used words and phrases in gambling. And if you are already familiar with the world of casino gaming, it wouldn’t hurt to scan through the terms just to make sure that your understanding of the terminologies is razor-sharp. Feel free to dig in:

Ante– an initial wager needed (normally in card games) before a hand can begin.

Bankroll– a given amount of cash meant specifically for making bets.

Bet– a fixed sum of money risked on a casino game or sports event for the chance of winning. Also known as wager or stake.

Betting Layout– the space on a betting table where gamblers can put their chips so that they can place their preferred wagers.

Betting Limits– the minimum and maximum bets accepted at a betting table or a particular casino game.

Bonus: additional sums of money or other types of perks, such as free spins, that an online casino might add to your account as a reward for just registering an account, depositing or staking a given amount on games, among other reasons.

Cage– the area of a brick-and-mortar casino where cards are kept.

Card Shark/Card Sharp– a skilled card game player.

Cash Out– to have funds from your casino account sent to your banking account via your preferred payment method.

Chips– typically tokens in form of plastic discs used to symbolize money at casino gaming tables. Chips come in different denominations depending on the game.

Cold Streak– a prolonged run of unluckiness with accumulated losses.

Comp Points– casinos would reward players with comp points based on their betting activity. In land-based casinos, comp points can be swapped for free credits/food/drinks/accommodation. In online casinos, these points can be exchanged for extra credits, free gaming rounds or even real withdrawable money.

Croupier– also called a dealer, a croupier is tasked with running a gambling table, for instance, shuffling and dealing cards or spinning the roulette wheel.

Deck – The typical 52 cards used in blackjack.

Download Casino– an online casino where you must download a given software or app so that you can start playing the games that are available on the platform.

Even money Bet– a type of bet having a 1:1 payout odds ratio. This means the potential amount that can be won is equal to the initial stake.

Expected Win Rate– the total sum staked at a game that you can anticipate to win back. If, say, a game has a 94% win rate, then ultimately, you’d expect to win something like $94 per $100 wagered. However, this win rate is often a theoretical value and doesn’t provide any guarantees for particular gaming sessions.

Face Card– a jack, king, or queen of any suit of the cards.

High Roller– a player that makes high stakes worth huge amounts of money.

House– another word for the land-based casino.

Hot Streak– a prolonged run of good luck with accumulated wins back-to-back.

House Edge– the statistical advantage that the casino has over players in all games.

House Rules– game rules exclusive to a given online or land-based casino.

Instant Play Casino– also called a no-download casino. It is a kind of online casino where you can enjoy playing games directly from your web browser without the need to download any software.

Live Dealer Games– online casino games where you get to play against real dealers via real gaming tables through real-time video feeds. Live dealer games are meant to offer players the lifelike land-based casino gaming experience remotely.

Loyalty Program– a rewards scheme that offers members of a specific casino or string of casinos exclusive perks based on their frequency of playing the available games.

Lobby– the area in a casino where you can find all the games on offer.

Multi-hand Game– a casino game you can play with more than one hand at a go.

Payout– the amount a player receives after winning a bet.

Progressive Jackpot– a kind of jackpot payout that grows with every time the game is played and the jackpot money isn’t won. Should a player win the jackpot, the value of the jackpot is reset to a predetermined amount, and the counter starts afresh.

Push– another word for a tie.

Payout Table– a table that shows the various amounts you can win for the different winning combinations on slots, video poker and table games.

Payline– A line of symbols in slots where winning symbols must be lined up to land a win.

Racino– refers to a casino that is located at a horse racing track.

Random Number Generator (RNG) – a computer program employed by casino sites to guarantee the generation of random outcomes for their games.

Return to Player (RTP) – a measure of how much a given game repays its players for each unit betted over time. Normally, RTP is expressed as a percentage, and the higher the RTP value, the more often the game will pay over a longer period.

Reels– the wheels that spin in slot games. Reels make up the mechanical part of a slot machine, which is filled with symbols.

True Odds– the real odds of a wager winning based on probability.

Three of a Kind- a hand having three cards of a similar rank.

Volatility– the level of risk that is involved with a slot game which reveals how much and how often the game is projected to offer wins. Slot games can be of low volatility, high volatility or medium volatility.

Wagering Requirements– these are conditions that dictate the amount of cash players must stake on games before they can cash out any earnings made from a bonus.

Whale– a high-value player who plays for large stakes and invests a lot of cash in casino games.

There you have it. While the above doesn’t mean that you are now a casino pro, they are a quick starter pack to make sure that you are familiar with some of the most popular terminologies.

 

The need and demand for life insurance plans have increased drastically after the onset of the ongoing pandemic, as life has become uncertain and unpredictable. The search for ideal insurance plans that can secure the financial future of your loved ones in case of your untimely absence has risen significantly. However, do you know that your life insurance policy can also help you grow your wealth? In such a case, you can invest your hard-earned money in Unit Linked Insurance Plans (ULIPs). If you wish to gain more knowledge about a ULIP policy, read on.

ULIP is one such life insurance policy that offers insurance and investment components under a single plan. Part of your premium is invested in equity funds (large, mid, or small-cap), debt funds, or a mixture of both types of funds after the deduction of appropriate ULIP charges. You can select the type of funds where you want to invest your hard-earned money in according to your risk appetite. You can choose the percentage of the amount that you want for insurance and investment.

ULIP policy comes with a lock-in period of five years that gives enough time for your investment to grow. The mandatory lock-in tenure inculcates a habit of savings, which makes you a disciplined investor. However, financial experts believe that you should stay invested in ULIP for a minimum of 10-15 years if you want to earn attractive returns. You can reap the benefits of the power of compounding and capitalize on the returns. In compounding, the amount that you have earned from your investment over the years is re-invested to generate additional wealth. Also, a long period of approximately 15 years helps you to cover up any losses due to poor conditions of the equity market.

One of the best features of ULIP is that offers the facility of switching from one fund to another. So, if the equity market is on the decline, you can move your money from equity funds to debt funds. In such a way, you are safeguarding your funds from the risk associated with the volatility of the equity market. Similarly, if the market is bullish, you can transfer your investments from debt funds to equity funds. In this way, you can have better control over your investment and simultaneously maximize the returns. When you compare ULIP returns in 10 years with most of the wealth-generation instruments, you can see that ULIP is the clear winner. It offers better returns than bank fixed deposits, Public Provident Fund (PPF), Post Office deposit schemes, and many other financial products.

Another key highlight of ULIP is that it offers tax exemptions. You can claim a tax deduction under Section 80C of the Income Tax Act, 1961, for the amount that you pay towards your premium. In this case, the maximum permissible limit is INR 1.5 lakh per annum. Besides this, the death benefit received by the beneficiary of the policy as well as the amount received on maturity is tax-exempt as per Section 10(10D) of the Act.

To sum it up

ULIP is the only life insurance product available in the market that offers the dual benefits of insurance and investment in one policy. If you are skeptical about the returns offered by ULIPs, you can conduct a research on the top-performing ULIP funds and analyze their performances over the years. So, invest in a ULIP that meets your financial needs and is in line with your risk-bearing capability.

 

Retirement is supposed to be the best period of your life when you get to relax and spend fulfilling moments with your loved ones. However, this is not always the case, as finance can become a cause of headache after you retire. The biggest challenge of retired life is adjusting to not receiving regular payments.

To tackle this, you must start planning your retired life as early as possible. If you invest in the right instruments, it is possible to build a corpus, which is significant enough to fund a comfortable retirement. The most popular options to achieve this objective are Unit-Linked Insurance Plans (ULIPs) and pension plans. Here, we explain which alternative can benefit you more.

What is ULIP?

ULIP is one of the most profitable investment avenues available today. Its best feature is that it combines life insurance with wealth creation. When you purchase the plan, ULIP fund managers use a portion of that to invest in debt, equity, or a mixture of both types of funds. The ULIP plans returns from these funds enable you to earn a large corpus, supporting you financially after retirement.

The insurance company also provides a life insurance cover, which secures your loved ones’ future in your absence. This quality of dual advantages makes the ULIP investment plan an ideal financial product for retirement planning.

What are pension plans?

Pension plans serve the purpose of offering you a steady income after your retirement. The high inflation rate in India makes it quite challenging to maintain a comfortable life post-retirement. This is why financial experts advises you to not rely on your savings only and ensure that monthly payments continue after retirement.

The workings of a pension or retirement investment plan are relatively simple. You pay a portion of your income towards the pension fund until the day you retire. On reaching the retirement age, you will start to receive frequent returns from the pension plan. This can help you take care of your daily expenses and you can continue to lead a luxurious life.

Which one should you choose?

Now that you know the differences between a ULIP investment plan and a pension plan, it is time to determine which one will serve you better. Here, we have compared these plans based on aspects, like:

• Tax exemptions

The retirement plan comes with tax deductions. Under Section 80CCC of the Income Tax Act 1961, the money you pay towards the plan is tax-free. Even though it has a maximum limit of INR 1.5 lakh, the money saved on tax can prove beneficial for you. However, the withdrawals received from this plan are not entirely tax-exempt. You do not have to pay any tax on the lump sum received immediately after retirement, which is one-third of the total corpus, but the annuity or regular payment is subject to tax.

In this regard, ULIP has an advantage over the pension plan. Apart from the tax-exempted premiums under Section 80C of the Income Tax Act 1961, Section 10(10D) ensures that you do not have to pay any tax on the ULIP’s maturity benefit.

• Flexibility

Another ULIP benefit is that it gives you the opportunity to select how the fund manager can distribute your money into different instruments. You also have the choice to switch between the types of ULIP funds, depending on your changing risk tenacity and market condition. All these points make ULIP a more suitable choice for building a retirement fund in comparison to a pension plan.

Before you decide on where to invest, take some time comparing the pension plan and ULIP plans returns along with their additional benefits. This will help you opt for the appropriate investment vehicle.

 

Getting approved for a home loan, especially for the first time, can be stressful and daunting. Luckily this is something that many people go through, so there are a lot of helpful tips and tricks out there.

As with all money matters, it’s normal to feel nervous when you are trying to get approved for a home loan, but you should also be excited! Securing a loan is often the very first step in home ownership.

Start Saving For A Down Payment

In order to get approved for a home loan, you’ll have to put some money up front for a down payment. This amount can range anywhere from 3% to 20% of the total cost of the home, but keep in mind that the more you are able to put down, the lower your mortgage payments will be. Make sure you have enough money saved up before you try to secure a loan.

Check Your Credit Score

Having a good credit score will attract the best lenders and help you secure the best deal on a loan. Make sure to obtain a copy of your credit report before talking to lenders so that if repairs need to be made on your credit you can make them beforehand.

Research Loan Options

There are many various types of home loans. It’s best to do your research on all of them before you begin contacting lenders and decide which type is best for you. Fixed-rate loans and adjustable-rate loans are probably the most common, and people have different reasons for preferring one over the other.

Compare Offers

Once your financial documents are in order, your credit score is high enough, and you have enough saved for a down payment, it’s time to start shopping for a loan. But don’t just take the first loan that is offered to you.

Talk to multiple different lenders and ask lots of questions. This will allow you to find the lowest interest rates possible. It’s also smart to look out for fine print and hidden fees. Weigh all of your options before saying yes to a loan.

Respond Promptly

During the loan securing process, it is common for a lender to reach out and ask you for additional information or paperwork. It is important that you respond to these requests promptly in order to avoid causing delays in closing your loan.

Overall, buying a home is a very exciting process. Try to remember this if you are stressed or overwhelmed during the home loan process, and lean on the hundreds of thousands of people who have been there before.

 

Many of us know that money is a good thing; however, fewer of us know exactly what the best things to do with it are. If you’ve ever wondered what the smartest things to do are with the money you have, you’ve come to the right place.

Take a look at some of the best things you can do for your finances.

 

Invest

Saving for your future is a critical part of being an adult. The best way to save is to invest your money in the right places. Whether you want to invest in real estate or start a retirement account, the idea is to put your money somewhere that it will grow. The earlier you start investing your money in something, the more time that it will have to increase in value.

 

Create a Budget

One of the most common reasons why people run into problems with their money is because they don’t have a budget set in place. A budget is there to make sure that you’re not overspending in certain areas that could get you in trouble.

The great news is that creating a budget for your money is as simple as downloading an app that helps you keep track of your spending. After tracking your expenses for several months, sticking to your budget will start to become like second nature.

 

Stay Out Of Debt

One of the worst things you can do for your finances is getting yourself into an unmanageable amount of debt. Pay off your debts as soon as you can, without letting them get out of control.

Even though you might be tempted to put off repaying your debts, you only end up spending more money in the long run. Whenever possible, pay money towards your outstanding debts, and make it a priority to pay them off entirely as soon as possible.

 

Put Away Monthly Savings

A lot of people don’t like the idea of saving because they’d rather live in the moment. However, what a lot of people don’t realize is that saving can add up in small amounts over time. By putting away a small amount each week or even month, you can see your savings grow exponentially over the years. Try to get into the habit of putting away a little bit after each paycheck. Slowly and steadily, you’ll see your hard work pay off.

 

Avoid Impulse Purchases

It’s not uncommon for people to see a product or service that they are convinced they can’t live without. In the heat of the moment, they throw all of their money away for one single thing. However, impulse purchases are your worst enemy. Before you spend a lot of money on anything, make sure that you’ve thought well and hard about it.