Action may also refer to the total amount of money wagered by a player in a full gambling session. And in sports betting, a bet may be deemed "action" if it is valid. In baseball, "action" is a special type of bet wherein the bet still counts even if there is a change in starting pitcher, which is accompanied by a change in odds.
"We've got lots of action on the table tonight."
"Where's the action?" (Who's turn is it to bet?)