There are two ways to understand your question.
Ques 1. Does Google identify "Pin Ball" and "Pinball" as separate search phrases and will give different results?
Ans: As the game "Pinball" is very famous and several sites link with that word, its obvious that Google assumes that your looking for the game and did a typo and will show the results for that game. However, it will also give you Did you mean Pinball as another option.
Ques 2: If your making your site rank for the term Pinball which is a different product that the famous game "Pin Ball", can Google understand that and show your site?
Ans: Google bots will read the links by its Anchor text. I'd the same problem when my site was new and i wanted to rank for the word "compbizz" google will assume and show results for the keyphrase "comp bizz". But, would give did you mean link at the bottom of the search phrase. However, gradually as the time went by and i started building links at regular intervals google ultimately removed the did you mean option and started showing my site for that keyword.
Did i interpret your question correctly?
MDSandB