Crypto Gambling Glossary
All the terms you need to know about crypto gambling, blockchain technology, and digital assets — explained in plain English.
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2FA (Two-Factor Authentication)
A security method requiring two forms of verification to access an account. Typically combines a password with a code from an authenticator app or SMS.
A
Altcoin
Any cryptocurrency other than Bitcoin. Includes Ethereum, Solana, Dogecoin, and thousands of other tokens.
B
Blockchain
A distributed, immutable digital ledger that records transactions across a network of computers. The underlying technology behind all cryptocurrencies.
C
Cold Storage
Storing cryptocurrency offline in hardware wallets or air-gapped devices, disconnected from the internet. Considered the most secure method for long-term crypto storage.
D
DeFi (Decentralized Finance)
Financial services built on blockchain technology that operate without traditional intermediaries like banks. Includes lending, borrowing, trading, and yield farming.
DYOR (Do Your Own Research)
A common crypto community phrase urging individuals to investigate and verify information independently before making financial decisions.
F
Faucet
A platform that distributes small amounts of cryptocurrency for free, usually in exchange for completing simple tasks. Used to introduce newcomers to crypto.
G
Gas Fees
Transaction fees paid to blockchain network validators for processing transactions. Ethereum gas fees fluctuate based on network congestion.
H
Hot Wallet
A cryptocurrency wallet connected to the internet, used for active trading and transactions. More convenient but less secure than cold storage.
House Edge
The mathematical advantage the casino holds over players on any given game, expressed as a percentage. For example, a 2% house edge means the casino expects to keep $2 for every $100 wagered over time.
K
KYC (Know Your Customer)
Identity verification procedures that require users to submit documents proving their identity. Many crypto casinos offer reduced or no KYC, but exchanges typically require full verification.
L
Lightning Network
A Layer 2 payment protocol built on top of Bitcoin that enables near-instant, low-cost transactions. Increasingly used by crypto casinos for faster Bitcoin deposits and withdrawals.
P
Provably Fair
A cryptographic system that allows players to verify the fairness of each game outcome independently. Uses hash functions and server/client seeds to prove that results were not manipulated.
R
Rakeback
A percentage of the rake (house commission) returned to the player. Common in crypto poker rooms and some casinos as a loyalty reward.
RTP (Return to Player)
The percentage of total wagered money a game is expected to pay back to players over time. A 96% RTP means the game returns $96 for every $100 wagered on average.
S
Seed Phrase
A series of 12 or 24 words that serves as the master backup for a cryptocurrency wallet. Anyone with your seed phrase can access your funds — never share it.
Smart Contract
Self-executing programs stored on a blockchain that automatically enforce the terms of an agreement when conditions are met. Used in DeFi gambling for trustless betting.
Stablecoin
A cryptocurrency pegged to a stable asset like the US dollar (e.g., USDT, USDC). Used in crypto gambling to avoid volatility risk.
W
Wagering Requirements
The number of times a bonus amount must be bet before winnings can be withdrawn. A 30x wagering requirement on a $100 bonus means you must wager $3,000 before cashing out.
Whale
A player or trader who wagers or holds extremely large amounts of cryptocurrency. Whales can significantly impact market prices or casino economics.