GLOSSARY
Crypto Casino Glossary
20 key terms every crypto gambler should know. Plain English, no jargon. We cover game mechanics, bonus structures, blockchain technology, compliance terms and responsible gambling concepts.
Essential terms for beginners
Wagering Requirements
BonusesThe number of times you must bet your bonus amount before you can withdraw winnings derived from it.
Read more →Provably Fair
TechnologyA cryptographic method used by crypto casinos that allows players to independently verify that each game outcome was fair and not manipulated by the casino.
Read more →KYC (Know Your Customer)
ComplianceIdentity verification process where casinos require government-issued ID to verify player identity.
Read more →RTP (Return to Player)
FundamentalsRTP is the percentage of all wagered money a game pays back to players over time, expressed as a percentage.
Read more →House Edge
FundamentalsThe mathematical advantage a casino holds over players on any given game, expressed as a percentage.
Read more →Browse All Terms
Blockchain
TechnologyA distributed, immutable ledger that records all cryptocurrency transactions across a network of computers.
Read more →Cold Wallet
SecurityA cryptocurrency wallet that stores funds offline, disconnected from the internet.
Read more →Crypto Casino
FundamentalsAn online casino that primarily accepts cryptocurrency for deposits and withdrawals.
Read more →Fiat Currency
FundamentalsGovernment-issued currency such as AUD, USD, or EUR, as opposed to cryptocurrency.
Read more →Hot Wallet
SecurityA cryptocurrency wallet connected to the internet, used for active transactions.
Read more →House Edge
FundamentalsThe mathematical advantage a casino holds over players on any given game, expressed as a percentage.
Read more →KYC (Know Your Customer)
ComplianceIdentity verification process where casinos require government-issued ID to verify player identity.
Read more →Minimum Deposit
PaymentsThe smallest amount of cryptocurrency you can deposit to fund your casino account.
Read more →No Deposit Bonus
BonusesFree bonus money or spins given to players without requiring a real money deposit.
Read more →Play-through (Wagering)
BonusesAnother term for wagering requirements — the total amount you must bet before withdrawing bonus funds.
Read more →Provably Fair
TechnologyA cryptographic method used by crypto casinos that allows players to independently verify that each game outcome was fair and not manipulated by the casino.
Read more →Reload Bonus
BonusesA bonus offered to existing players when they make a subsequent deposit after their first.
Read more →Responsible Gambling
SafetyA set of practices and tools designed to help players maintain control over their gambling habits.
Read more →RTP (Return to Player)
FundamentalsRTP is the percentage of all wagered money a game pays back to players over time, expressed as a percentage.
Read more →Smart Contract
TechnologySelf-executing code on a blockchain that automatically enforces agreement terms when conditions are met.
Read more →Stablecoin
CryptocurrencyA cryptocurrency designed to maintain a stable value, typically pegged 1:1 to a fiat currency like USD.
Read more →Variance
FundamentalsThe degree of risk and reward fluctuation in a gambling game. High variance means big wins but less frequently.
Read more →VIP Program
BonusesA loyalty scheme rewarding high-volume players with cashback, personal account managers, and exclusive bonuses.
Read more →Wagering Requirements
BonusesThe number of times you must bet your bonus amount before you can withdraw winnings derived from it.
Read more →Withdrawal Speed
PaymentsHow long it takes for a casino to process and send your winnings after you request a withdrawal.
Read more →Common Questions
What does wagering requirement mean?
A wagering requirement (also called playthrough) is the number of times you must bet your bonus amount before you can withdraw winnings. A 100 AUD bonus with 30x wagering means you must place 3,000 AUD in bets before cashing out. Lower is better. Industry standard sits between 25x and 40x.
Full guide to crypto casino bonuses →What is provably fair?
Provably fair is a cryptographic verification system that lets you confirm a game result was not manipulated. The casino commits to a server seed before each round. After the round, you can hash the seeds together and verify the outcome. It applies to in-house games like crash, dice and plinko, not third-party slots.
Provably fair explained in detail →What does KYC mean at a casino?
KYC stands for Know Your Customer. Casinos use it to verify your identity, usually by requesting a passport or driving licence plus proof of address. No-KYC casinos skip this process, allowing faster account setup. However, no-KYC means fewer consumer protections if a dispute arises.
What is RTP?
RTP stands for Return to Player. It is the percentage of all wagered money a pokie machine returns to players over time. A 96% RTP pokie returns 96 AUD for every 100 AUD wagered, on average, over millions of spins. It is not a prediction of your personal session results.
What is a house edge?
The house edge is the mathematical advantage the casino holds over the player. A 1% house edge means the casino keeps 1 AUD of every 100 AUD wagered over time. Table games typically have lower house edges than pokies. Blackjack with basic strategy is under 0.5%. Pokies range from 3% to 10%.
See these terms in action
Now that you know the language, read our reviews of the top crypto casinos for Australian players with confidence.
If gambling is affecting you or someone you know, call the National Gambling Helpline on 1800 858 858 (free, 24/7) or register with BetStop to self-exclude.