Advance-Deposit Wagering - ADW

Short answer: it's horse racing when your bookie doesn't trust you. Long answer: it's when you play the ponies with money that you've already deposited into your account, rather than having the race track (or whoever) extend a credit to allow the bet.

Basically, if you're in the movie Casino and you're placing bets with Joe Pesci's character, you're doing it on a credit system. You tell him the bet you want. Then, if you win, you go and collect. If you lose, you go and give him the money you lost (if you don't go to him to pay the money you owe, you'd better keep a close eye on your knees).

If you're placing bets with Robert DeNiro's character, you're doing something akin to Advance Deposit Wagering, i.e. giving the casino money at the time of the wager. If you lose, that's it...they keep your money. If you win, you go back and get your winnings. But don't try anything funny, or out comes the cattle prod.

Either way, don't make bets inside the movie Casino. Stick to Swingers.