Ante

A fixed amount paid to take part in a round, before anything is decided. It is gone whatever happens.

In context

A fixed fee weighs most on small bets. On a bet of N pounds a £1 ante adds 1/N to the edge: 20% on a £5 bet, 1% on a £100 bet.

Did you know

Oklahoma’s tribal casinos, when they added roulette in 2018, reportedly kept the $1 fee per hand of their card games as a $1 ante on every spin.