Vigorish

The casino edge, fee or commission taken by the house.

The Vigorish keeps the casino in business.

VIP

Very Important Person. A big bettor or High Roller.

"She's a VIP, you can tell by how much she bets!"

VLT

Video Lottery Terminal.

"Our local bar just installed VLT machines. I won 25 dollars the first time I tried it!"