Baubling is a general term used for gambling using period games and various stakes. Many groups participate in this type of activity. Each group has its own House Rules and details.
Master Gulliver's Table Rules
I've been asked to put some information about baubling up on the Wiki so I'll describe my game. Hopefully other players will add to this with their game's information.
I start by telling people who come to my table to play that baubling is a way to "be in Persona and not have to eat or dance."
The game I use is Hazard, an ancestor of Craps common throughout the middle ages. The rules of the game are a little complicated but once the game gets rolling it gets easy to play. Sometimes wwe forget the rules from event to event but as long as we agree what rules are in force at the time its all good! For a good general description of the game's rules follow this link to the public wiki. http://en.wikipedia.org/wiki/Hazard_%28game%29
Beyond the game itself much of the excitement of baubling is wagering. Trinkets of a wide variety are used as stakes.
I have several House Rules. Know the House Rules of any table you play at.
No gambling of US currency. Not a dime or a dollar. This is a game and wagering money makes it real gambling.
In the same manner no personal services. I don't want someone wagering a foot rub or a back rub or a any personal services or promissory. Too complicated and too many chances for misunderstandings.
No filching. I don't allow that. I run an honest table. If you get caught snagging stuff from someone elses treasure pile you will be asked to leave. This might seem like an unnecessary rule but the reason for it is that under the House Rules of other people's games such filching is often considered part of the game and part of the fun of it. That's how they play and that's fine. Know the House Rules
No Bauble Story long then 3 sentences. More then that is a tale for the fireside not the Baubling Table. Part of the fun of the trinkets is a short explanation of the item. It is hard to remember long stories about items that might be hard to distinguish from other items the next morning or the next war. So make it short: Rowanna's Grandmother's Pearls, A stone From the Tower of Babel, a Jewel of the Nile, A Pilgrim's Token from Lourdes.
I run and "R" rated table. Not an "X" rated table. Stories may be lewd or risque but not openly pornographic. This is another instance of a House Rule that differs wildly from House to House. By "R" rated i mean that parents should be forewarned that if they bring kids with them they might hear things that are lewd or risque.
While not specifically a house rule for me, i rarely allow people under 18 to play in my game unless i know them and their parents have given permission. This is because once upon a time a woman walked by the baubling table, saw that we were playing a dice game, left her kids (11&12) at the table, and wandered off to find other more adult entertainment. She did it without telling anyone and it was awhile before anyone realized what she had done. She was angry at me for exposing her children to bad language and lewd talk. Mostly though, she was angry that I had sent the constable to find her when we discovered she had left her kids at the table with us.
Types of Bets
There are two types of bets. Table bets and Side Bets. Table bets are between the caster and the Faders or other players in turn to cast the dice. Side bets are between anyone present, including those watching the game, waiting for an open seat, or otherwise not in line to cast the dice. The Caster is in charge of how long the betting goes on. It can go on all night if the caster lets it. At some point the Caster calls "All Bets Closed" and toss the dice.
The Baubles and Inside Games
Around the table are boxes filled with rare treasures, fine jewels, golden coins, and relics of every description. A casual observer of course would see odd boxes full of yard sale finds, foreign coins, mardi-gras beads, and a bizarre assortment of items of little or no value. And TADA, both are correct! Baubles come in any shape and size that a person cares to collect and carry around with them. Not every item has a story, sometimes gold is just gold. But a story for an item should be short, 3 sentences or less. Remember that someone who wins an item needs to try and remember the story you made up till the next time they sit to play.
Examples of Item Stories:
"The ONE PERFECT PEARL!!!", Cleopatra's Ear Rings, A Button from Master Gulliver's Doublet, Spanish Doubloons-Pieces of Eight, Toe of Pele the Fire God (A large white Hawaiian seashell), 6 vials of the mythical 'Blood of the Saints Python', Nerfertiti's Nipple Ring, The Knights' chain of Sir Robin (a golden chain made with chicken charms), Finest Gold West of Bagdad. (gold foil wrapped Chocolate coins), Fealty Tokens, Site Favors.
While most items stand alone some are parts of a collection. These are inner games.
The Buddahs-13 faux jade buddah statues numbered 1 to 12 and one marked with the Omega symbol.
Saladin's Chess Set-Small chess pieces either Clear or Frosted Glass.
The Vials of the Mythical Saints Python-A collection of glass vials with red liquid in them.
Papal Beads Game The Papacy is Vacant. The pope's Rosary has been split up to find the New Pope of Rome. The Rosary consist of 42 red wood beads, a cord, and a cross. The person who gains the cord, cross and 21 beads wins.
Gulliver-Pope of Avignon, Selene-Nottignham, Damashi-Venice, Rowana-Pope Joan (Mainz, Athens, Ostia), Ciaran-High Seas, Annerin- Pope of Tyre. Caspian Lash- Pope of Tortuga, Meala Caimbeul -Glasgow. Cormack-Constaniople, Simon-Outremere, Bjorn-Bedlam, Dierdre-The Rom-Gypsies (Central Europe? Might that be schismatic of the Eastern Orthodox too? lots of opportunities. ), Diego-Cadiz, Corba-Chaos, Domo-Oslo, Miradonna-Perugia, Donal-Dublin, Krisdave-York.
Other Gambling Games
- Glückhaus - A simple put and take game, usually played with small baubles with little to no story. 
- Laugh and Lie Down - a fishing card game. Easy to learn and easy to play for higher stakes.  I have a slight modification of the historic game that makes for easier play and faster learning: 
- Tic Tack - A fast tables game with the opportunity to win one or two stakes, and even raise the bet. 
- Clear the Table - A game of my own design (with Lodovigo of the Isles) based on the plausibly historic Shut the Box.  Instead of just turning numbers down, baubles are placed in numbered spaces, and the player takes baubles according the the number they roll. It requires at least two players, and by using more valuable baubles, one can lure one's opponent to certain numbers.