E - Glossary of Terms
Early surrender. A rule that allows the player to surrender half of his bet upon seeing the dealer's upcard and before the dealer checks for a blackjack.
Edge. A term used to describe the percentage of advantage either the casino or the player has on a certain game. For example, the casino has a 1.4% edge or advantage on a player making a pass line bet in a craps game.
EM. An abbreviation for "email".
End play. When the player, through an increase in number of hands at the right moment and/or card-eating, manages to force the dealer to run out of cards and deal the rest of the round (or start anew) from the re-shuffled discards, whose composition is favorable to the player. Extremely rare now, it was mostly practiced by self-educated advantage players in the pre-Thorp days, when single deck games were often dealt very deeply, if not completely.
EOR. The acronym for "effects of removal".
ES. The acronym for "early surrender".
European no-hole-card rule. A rule used in blackjack where the dealer does not take a hole card. The dealer hand gets a second card only after all player hands are finished. If the dealer gets a blackjack, a player who has doubled down or has split loses not only his original bet but all additional bets. The name of this rule is derived from the fact that many games in Europe and abroad are played with this rule in effect. It is not the norm in most American and Canadian casinos.
EV. The acronym for "expected value".
Even money. 1. A bet which returns the same amount in winnings as was wagered by the player if the bet is won. 2. A phrase which is used by players and the casino when a player decides to take insurance on his blackjack when a dealer has an Ace showing. If the player takes this option, he is paid even money on his blackjack regardless of whether the dealer has a blackjack or not.
Expectation. A reference to what a player or the house can statistically expect to win or lose on a given bet or game. For example, the house expectation on a pass line bet a craps is 1.4%. This simply means that the house can expect to win 1.4% of all the money bet on the pass line over the long run. Since the only outcomes are win one unit or lose one unit, a 1.4% expectation means winning 50.7% of the time and losing 49.3% of the time. If the same bet were described for the player, it may be stated by saying the player on average gets 98.6% of his money back on the pass line bet (getting 100% back would be breaking even) or it could be stated that the player has a 1.4% negative expectation on that bet.
Expected value. A reference similar to the term expectation. Often, when using the term expected value, players also include the additional value that may result from comps earned during play.
Expected win. Another term similar to expectation or expected value. Generally, this term is used to describe what a player or the house may expect to win over a certain period of play. For example, if a card counter is playing with a 1.5% advantage over the house and has an average bet of $100, it may be said that his expected win per 100 hands would be $150.
Eye. A colloquial term for the cameras used to watch the gaming areas in any casino. It can also be a reference to the casino employee(s) viewing the video screens or employee(s) watching play directly from an unseen vantage point. Also: "Eye in the sky."