What are ‘Winnings’?
‘Winnings’ refers to the chips or cash retained by the player when the total of bets paid out is subtracted. The term can also be used to describe any amount which is paid to the player following a successful wager, regardless of the amount spent to play. ‘Winnings’ is usually used in relation to the prizes earned by the player(s) of a game, though the bets held by the casino when lost by the player can also be referred to as the house’s ‘winnings’.
In gambling, players put up a sum of money (their ‘stake’) against the chance of an outcome occurring, and receive a payout if they are successful in the prediction. This payout is usually based on the fixed odds of an outcome occurring. Popular forms of gambling include sports betting, poker, blackjack, roulette, craps and slot games. The aim for the player is to come away with a profit, while the casino or the bookmaker hopes to hold onto the player’s bets.
If a player refers to their ‘winnings’, they usually mean any amount which they received for a successful bet. For example, a player who makes a spin on a slot game and matches a set of symbols will receive a payout – and this payout is the player’s ‘winnings’. Winnings can mean any amount, made up cash and chips, and it can also mean non-cash prizes like holidays and cars.
In some cases, a player who talks about their winnings will subtract the amount they spent on gambling from the amount they held at the end of the session. When cashing in chips for example, the player might call the cash they receive ‘winnings’. The casino might also refer to their own ‘winnings’, meaning the bets they keep when the player loses, known as the house edge.