The physics and chemistry of nonlinearly oscillating acoustic cavitation bubbles are strongly influenced by the dissolved gas in the surrounding liquid. Changing the gas alters among others the luminescence spectrum, and the radical production of the collapsing bubbles. An overview of experiments with various gas types and concentration described in literature is given and is compared to mechanisms that lead to the observed changes in luminescence spectra and radical production. The dissolved gas type changes the bubble adiabatic ratio, thermal conductivity, and the liquid surface tension, and consequently the hot spot temperature. The gas can also participate in chemical reactions, which can enhance radical production or luminescence of a cavitation bubble. With this knowledge, the gas content in cavitation can be tailored to obtain the desired output.