Pit

1. The pit (or "the pits") generally refers to gambling action in a casino that is not related to poker or sports betting (such as blackjack or craps), or to the physical area of the casino where such action is taking place.

Socioeconomic Relevance

Pit games have destroyed countless bankrolls and proven to be a nagging addiction for many poker players. Terms like "pit problem" and "pit monkey" and "degen" are commonly heard in reference to this condition.

Underlying Irony

It is well known that games in the pit, such as craps, baccarat and roulette, have a built-in negative edge, a mathematical disadvantage that is insurmountable for the player in the long run. Poker players, whose job revolves around assessing and evaluating long term edges in games of chance, are keenly aware of how this contrasts with the way they make their livelihood. Still, many full time poker players maintain a healthy fondness for pit games.