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P

 PAINT - A face card - Jack, Queen or King.
 PAIR - Two cards that have one and the same rank.
 PASS - To fold, not to bet.
 PAT - In draw poker, a hand that doesn't need to draw cards.
 PAT - In blackjack, a hand of seventeen or more.
 PAY CYCLE - The number of plays for a machine to go through all winning and non-winning combinations possible.
 PAYLINE - On slot machines, the line on which each reel's symbols have to line up.
 PAYOFF - The payback a player receives for his wager.
 PAYOUT PERCENTAGE - In video/slot machines, the percent of each dollar that the machine returns to the player.
 PAYOUT TABLE - A sign on the video poker or slot machine that indicates how much you will get for each winning combination you complete.
 PIGEON - An unsophisticated gambler.
 PIT - A place in the casino where a group of table games are arranged.
 PIT BOSS - A person who supervises the pit area in a casino. Usually, he supervises more than one table and is giving comps to good players, settles disputes and is watching for players who try cheating.
 POCKET CARDS - In poker, cards which are dealt face down.
 POINT - In craps, the point is established on the number of the value of the rolled dice on the come-out roll.
 POT - In a poker game, it is the amount of money that accumulates in the middle of the table and it goes to the winner of the hand.
 PRESS A BET - Adding the winnings to the original bet and wagering them together.
 PRESSING - Adding the winnings to the original bet and wagering them together.
 PROBABILITY - In mathematics, calculation that determines the likelihood of a certain event to happen.
 PROGRESSIVE - A slot machine whose jackpot increases with every bet that is placed. When the progressive jackpot hits, it is reset to its starting number and start accumulating again.
 PUSH - A tie hand, when neither the player nor the dealer/casino wins.