Ethereum Casino Glossary
As with any new technology, new phrases and words come into existence. If you’re not a die-hard, it might be hard to keep up with all the new lingo and terminology. To help you out, we’ve created an extensive Ethereum casino glossary that explains a lot of casino terms, Ethereum and blockchain specific terms, and some phrases you’ll come across when gambling online on blockchain casinos.
Account: An account is an object in the state. State transitions in Ethereum are transfer of Ether and/or data between accounts. There are two types of accounts; externally owned accounts (controlled by private keys) and contract accounts (controlled by their contract codes) both types of addresses can hold Ether.
Address: An Ethereum address is used to send and receive Ethereum transactions.
Affiliate: Person who promotes various online casinos on their own website to their audience. They receive a fee from the online casino operator for each player they refer.
Altcoin: Any two crypto currency other than Bitcoin or Ethereum. Some Bitcoin supporters would argue that Ethereum is an altcoin.
Ante: The minimum amount in an initial bet required before a game can start. This term is usually found in card games.
Basic Slots: In slots games, a slot game with only one payline (usually the middle one) and a static jackpot which does not change.
Bet: An amount of money put at risk for the chance of winning. Also known as a wager.
Bonus: Extra funds an online casino may add or offer to a player’s account as an incentive for signing up and depositing, or as a reward for betting/wagering a certain amount. There are many different types of bonuses (cash bonus, deposit bonus, sticky bonus to name a few).
Bonus Round: In a slot game, a feature offering the player the opportunity to win a bonus or play a round that is separate from the basic game.
Block: A package of data containing transactions, the hash of the previous block and/or other data. Each block (excluding the initial block or genesis block) will point to the previous block. They then form what is known as a blockchain.
Blockchain: A collection of blocks. Blockchains are secure distributed ledgers. They are public databases which anyone can gain access to but the data can only be updated by the data owners. Any updates are then copied across thousands and thousands of computers worldwide making the database decentralised (not residing on a single server). The use of blockchain eliminates fraud due to its transparent nature and is protected and secured by advanced cryptography. Ethereum blockchains can also be used to build decentralised applications.
Cash Bonus: A type of bonus where cash can be withdrawn once wagering requirements have been met.
Cashier: The area in an online casino where you deposit and withdraw your funds from your personal account.
Cash Out: To have the funds on your online casino sent to the payment option of your choice. Also known as a withdrawal.
Coins: In slot games, the amount you are betting on each line.
Contact: A piece of code used on the Ethereum platform. The term Contract, DApp, and Smart Contract are often used interchangeably.
Cryptocurrency or crypto-currency: Digital currency based on mathematics and cryptography to validate and secure transactions.
DApps: Decentralised Application. An application that uses an Ethereum smart contract at its backend code. It runs on a decentralised peer-to peer network providing complete transaction transparency (in contrast to to an app where the backend code is on a physical centralised server). The term DApp, Contract, and Smart Contract are often used interchangeably.
DAO: Decentralised Autonomous Organisation. An investor directed venture capital fund built on the Ethereum network that was hacked in June 2016. The hack saw a third of the DAO’s fund stolen and led to Ethereum being hard-forked (split into two) for following month. The network split into two giving way to Ethereum and Ethereum Classic and creating rivalry between the two networks. The DAO is often cited as one of Ethereum’s biggest stumbles to date.
Dealer: A casino employee responsible for the dealing of the cards in a game. A dealer can be found at online casinos who offer live dealer games.
Deposit Bonus: A type of bonus given when making a deposit to your online casino account.
Distributed Ledger Technology: Interchangeable term with “blockchain”.
Download Casino: Some online casinos require you download software in order to play their games.
EEA: Enterprise Ethereum Alliance. Established in March 2017, a coalition of startups, research groups, and corporations trying to figure out best practices and reference standards.
Encryption: A method of encoding to keep private the financial transaction and information online casinos use to protect themselves from hackers.
EOA: External Owned Account. Your normal Ethereum address. It is controlled by a public/private key pair.
ETH – Ethereum: A version of an open source blockchain based platform. Prior to the fork a token was called Ethereum. After the fork new tokens remained known as Ethereum.
ETC – Ethereum Classic: A version of an open source blockchain based platform. Prior to the fork a token was called Ethereum. After the fork old tokens became Ethereum Classic.
Ether: The value token of the Ethereum blockchain. Ether is used to pay transactions and computation fees for Ethereum transactions.
Expanding Wilds: In slot games, a wild symbol that expands to over the whole reel creating a bigger winning combination.
Faucet: A resource providing free Ether at various intervals.
Flash Casino: A type of online casino where you can play their games directly from your web browser without having to download any software.
Finney: Ether denomination. Named after Hal Finney who was a cypherpunk activist and the first Bitcoin user after its creator Satoshi Nakamoto. 1 Ether = 1000 Finney (103)
Free Spins: In slot games, a feature offering extra spins at no cost.
Frontier (Homestead, Metropolis, Serenity): The four planned stages of the Ethereum development roadmap. Frontier was the initial release of the Ethereum network going live back in July 2015. It was a bare bone release which allowed people to release their own apps, mine, get exchanges set up and essentially to help developers learn.
The Homestead phase was to be released after a month of Frontier went live but as of January 2016 it was only 80% complete. It was eventually released in March 2016.
Metropolis, as of Nov 2017 the current phase, opens the gates to the masses including non technical users.
Serenity is the last phase. Its main objective is switching the Ethereum network from proof of work (mining) to proof of stake (virtual mining).
Gas: A unit used in Ethereum. A measurement/fee of how much processing (work) is required by the Ethereum network to process a transaction. Sending ether to another address is considered a simple transaction and does not require much gas. Deploying a smart contract is more complex and will require more gas in comparison. Every operation preformed by a transaction will cost a certain number of gas.
Gas Price: The amount of ether to be spent for each gas unit on a transaction. The initiator of a transition chooses and pays the gas price. Transactions with higher gas price are prioritised by the network.
Genesis Block: The first block in a new blockchain.
Gwei: Ether denomination. Gas prices are often measures Gwei. 1 Ether =1000000000 Gwei (109)
ICO – Initial Coin Offering: Similar concept to an IPO in the non-crypto world where start ups issue their own token in exchange for ether. A sort of crowdfunding on the Ethereum platform.
Jackpot: A bonus or large payout for winning a bet/wager.
License: Awarded to online casinos by gaming jurisdiction.
Live Dealer Games: Some online casinos offer games that are played from a real venue, with real dealers in real time with the aid of a live video stream.
Lobby: An area of an online casino where a player chooses the games they want to play.
Log In: A player’s username and password used to gain access to the online casino lobby.
Loyalty Program: A method where online casinos reward their players according to their playing activity. Also known as a reward scheme.
Maximum Bet: The highest amount a player can stake on in one bet.
MEW – My Ether Wallet: A free site generating Ethereum software wallets.
Minimum Bet: The lowest amount a player can stake on in one bet.
Mining: The act of creating new Ether. Transactions are verified and added to the blockchain.
Miners: Devices or people owning devices to validate transactions. They are rewarded for the computing power consumed during mining with the Ether created in the process.
Mining Rig: A computer designed for processing proof of work blockchains. Usually consist of multiple high end graphic processors to maximise their processing power.
Operator: A person or company who manages the running of an online casino.
Payline: In a slots game, a line on which the winning symbols must line up to win. This line could be straight, diagonal or have peaks and dips.
Payout: The amount the player receives after a winning bet.
Payout Percentage: The total amount returned to player in the long run. For example, 98% payout percentage means, on average, a player can see a return of $98 for every $100 wagered.
Pay Table or Payout table: A display showing a player the amount that can be won. For a slot game it will show various winning combinations. For video poker it will how the winning hand. For a table game it will show wining bets.
Play Bonus: A type of bonus used for wagering purposes only. Also known as a sticky bonus.
Player: Someone who registers, deposits, plays and withdraws funds at any online casino.
Play for Fun: A fun version of an online casino game where a player can try a game first without having to risk any real money.
POS – Proof of Stake: The proposed future consensus algorithm to be used by Ethereum. People who own Ethereum will be able to ‘lock up’ their ether for a short time in order to ‘vote’ and generate network consensus.
POW – Proof of Work: The current consensus algorithm used by Ethereum.
Raiden Network: An upcoming protocol change to Ethereum enabling high speed transfer across the network. Similar to Bitcoin’s planned Lightning Network.
Random Number Generator (RNG): A computer program used by online casinos to automatically produce random results for their games.
Reload Bonus: A type of bonus offered to a player in return for making a deposit to their account.
Reels: In slot games, the part of the game where the symbols “rotate” vertically.
Progressive Jackpot: A type of jackpot that grows over time until it is won. Money is added to it the more times players play on that game.
Reward Scheme: A method where online casinos reward their players based on their playing activity. Also known as a loyalty program.
Scatter Symbol: In slot games, a symbol that pays a prize or activates a bonus or bonus game without having to appear on any specific pay line.
Session: An amount of time spent playing games.
Sign Up Bonus: A type of bonus offered to players when they first join an online casino. Also known as a welcome bonus.
Smart Contract: Autonomous scripts deployed in an Ethereum blockchain often directly interaction with the flow of money. Smart contracts will only allow the transaction of money to take place once a certain condition as been fulfilled. The term Smart Contract, DApp, and Contract are often used interchangeably.
Stacked Symbol: In slot games, symbols that appear three to a reel.
Stake: The size of a bet/wager.
State: The set of data a blockchain network needs to keep track of and that represents data currently relevant to application on the chain.
Sticky Bonus: A type of bonus used for wagering purposes only. It cannot be withdrawn until it is lost. Also known as a play bonus.
Szabo: Ether denomination. Named after Nick Szabo, a researcher who came up with bit gold and who developed the concept of smart contracts. 1Ether =1000000 Szabo (106)
The Flippening: A potential future event where Ethereum’s (or any other blockchain) market cap surpasses Bitcoin’s market cap making Ethereum the most ‘valuable’ crypto currency in terms of market capitalisation.
Tokens: Refers to the ‘currency’ of projects built on Ethereum network that have raised money via issuing their own tokens.
Transaction: A digitally signed message authorising an action associated with the blockchain. The main transaction type is sending currency units/tokens to someone else.
Username: The name a player uses to log in to their account with and how it appears to others online when playing with other players.
VIP: A player an online casino deems high value for either their regular play and/or their high stakes.
Wager: An amount of money put at risk for the chance of winning. Also known as a bet.
Wagering requirement: A set of criteria a player must fulfil before they can make a withdrawal associated with any particular bonus.
Wallet: A method for storing ether. Required if you want to own or buy ether. There are various forms of wallets (online, offline in the form of software, hardware, paper) with varying levels of security.
Wei: Ether denomination. Named after Wei Dei who is a cypherpunk who came up with the concept of b-money. 1 Ether = 1000000000000000000 Wei (1018)
Welcome Bonus: A type of bonus offered to players when they first join an online casino. Also known as a sign up bonus.
Wild or Wild Card: A symbol in a slots game or video poker that can be substituted for any other symbol or card.
Withdrawal: To have the funds on your online casino sent to the payment option of your choice. Also known as a cash out.
Vitalik Buterin: One of the primary co-founders of Ethereum.