PartyGaming CEO Garber Quits for Greener Pastures

March 7 - The decision by PartyGaming chief executive officer, Mitch Garber, not to renew his contract when it runs out in May next year, has been attributed to the company’s 67 percent drop in profits for the last financial year…

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Casino poker language:

BAD-BEAT JACKPOT - In some cardrooms, a prize that is shared by the players in a game, when a very good hand (usually Aces full, or better) is beaten by a higher hand. Jackpots are usually financed by taking a drop ($1 is a common amount) from every pot. A typical division of the jackpot will give the losing hand 50 %, the winning hand 25 %, and the other players at the table share the remaining 25 % of the Jackpot.
IMPLIED ODDS - A refinement to POT ODDS which includes money not yet in the pot. Considers the potential extra bets and winnings made when a player forms a very good hand.
READ - To determine whether an opponent has a good, medium or bad hand by observing his personal behavior. An inexact science.
HOUSE RULE - Rules and interpretations (e.g., use of wild cards, or rules on having to show beaten hands) that are specific to an establishment or even tables within the establishment.
RAIL - A barrier dividing the card playing area from a public area.
FIXED LIMIT - A betting structure where the amount of each bet is a specific fixed quantity. Usually specified as A-B, where A is the amount to bet in the first few betting rounds and B (larger than A) is the amount bet in the later rounds. Related terms: FLAT LIMIT, NO LIMIT, POT LIMIT, SPREAD LIMIT.

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