Crypto Betting Glossary
A
Accumulator
A bet that combines multiple selections into one wager. All selections must win for the bet to pay out, but the odds multiply together for potentially large returns.
Against the Spread (ATS)
Betting on a team to cover the point spread rather than just winning the game outright. The favorite must win by more than the spread, while the underdog must lose by less than the spread or win.
Altcoin
Any cryptocurrency other than Bitcoin. Popular altcoins for betting include Ethereum, Litecoin, and various other digital currencies.
Arbitrage
A strategy that involves betting on all possible outcomes of an event at different odds across multiple bookmakers to guarantee a profit regardless of the result.
B
Bankroll
The total amount of money a bettor has set aside specifically for betting. Proper bankroll management is crucial for long-term success.
Bitcoin (BTC)
The first and most widely-used cryptocurrency. Many crypto betting platforms accept Bitcoin for deposits and withdrawals due to its security and widespread adoption.
Blockchain
A distributed ledger technology that records all cryptocurrency transactions. It provides transparency and security for crypto betting platforms.
Bonus
Promotional offers provided by betting platforms, such as deposit matches, free bets, or cashback. Always read the terms and conditions carefully.
C
Cash Out
A feature that allows bettors to settle their bet before the event concludes, either to secure a profit or minimize a loss.
Crypto Wallet
A digital wallet used to store, send, and receive cryptocurrencies. Essential for managing funds on crypto betting platforms.
Cold Wallet
An offline cryptocurrency storage method that provides enhanced security by keeping private keys disconnected from the internet.
Confirmation Time
The time it takes for a cryptocurrency transaction to be verified and added to the blockchain. Varies by cryptocurrency and network congestion.
D
Decentralized
A system that operates without a central authority. Many modern crypto betting platforms are decentralized, using smart contracts to manage bets.
DeFi (Decentralized Finance)
Financial services built on blockchain technology without traditional intermediaries. Some betting platforms integrate DeFi protocols.
Double Chance
A bet that covers two of three possible outcomes in a match (home win or draw, away win or draw, or home win or away win).
E
Ethereum (ETH)
The second-largest cryptocurrency by market cap, known for smart contract functionality. Popular for DeFi and crypto betting applications.
Exchange Rate
The value of one cryptocurrency relative to another or to fiat currency. Important to consider when depositing or withdrawing from betting platforms.
F
Favorite
The team or player expected to win an event, typically indicated by lower odds or a negative point spread.
Fiat Currency
Traditional government-issued currency such as USD, EUR, or GBP. Some crypto betting sites allow deposits in both fiat and cryptocurrency.
G
Gas Fees
Transaction fees paid to process operations on blockchain networks like Ethereum. These fees can vary based on network congestion.
H
Handicap
A points advantage or disadvantage given to teams to level the playing field. Also known as spread betting.
Hot Wallet
An online cryptocurrency wallet connected to the internet. More convenient for frequent transactions but less secure than cold wallets.
I
In-Play Betting
Placing bets while an event is ongoing, with odds that change in real-time based on the action. Also called live betting.
J
Juice
The commission charged by bookmakers, also known as vigorish or vig. Typically built into the odds offered.
K
KYC (Know Your Customer)
Verification process required by regulated betting platforms to confirm user identity and comply with anti-money laundering laws.
L
Layer-2
Scaling solutions built on top of blockchain networks to increase transaction speed and reduce fees. Popular in crypto betting for faster settlements.
Lightning Network
A Layer-2 solution for Bitcoin that enables instant, low-cost transactions. Increasingly adopted by crypto betting platforms.
Liquidity
The ease with which a cryptocurrency can be bought or sold without affecting its price. Important for smooth deposits and withdrawals.
M
Moneyline
A bet on which team or player will win outright, without any point spread. Odds reflect the likelihood of each outcome.
Mining Fee
The fee paid to cryptocurrency miners for processing and confirming transactions on the blockchain.
N
NFT (Non-Fungible Token)
A unique digital asset on the blockchain. Some betting platforms use NFTs for rewards, exclusive access, or to represent betting positions.
O
Odds
The probability of an outcome occurring, expressed as a ratio or decimal. Determines potential winnings on a bet.
Over/Under
A bet on whether the total points, goals, or other statistics will be over or under a specified number set by the bookmaker.
P
Parlay
A single bet that links multiple wagers together. All selections must win for the bet to pay out, but offers higher potential returns.
Private Key
A cryptographic code that allows access to cryptocurrency holdings. Must be kept secure and never shared.
Provably Fair
A verification method used by crypto casinos and betting sites that allows players to verify the fairness of each bet using cryptographic techniques.
R
ROI (Return on Investment)
A measure of betting profitability, calculated as net profit divided by total amount wagered, expressed as a percentage.
RLS (Row Level Security)
Database security feature that controls access to data at the row level, important for protecting user information on betting platforms.
S
Smart Contract
Self-executing contracts with terms written directly into code on the blockchain. Used in decentralized betting platforms to automate payouts.
Spread
The difference between the buy and sell price, or the point handicap in sports betting. Lower spreads are generally better for bettors.
Stablecoin
A cryptocurrency designed to maintain a stable value, typically pegged to fiat currency like USD. Examples include USDT and USDC.
Stake
The amount of money wagered on a bet. Proper stake sizing is essential for effective bankroll management.
T
Teaser
A bet that allows you to adjust the point spread in your favor on multiple games, but at reduced odds.
Transaction Hash
A unique identifier for a cryptocurrency transaction on the blockchain. Used to track and verify deposits and withdrawals.
U
Underdog
The team or player expected to lose an event, typically indicated by higher odds or a positive point spread.
Unit
A standardized betting amount used to track betting performance, typically 1-5% of total bankroll.
V
Vigorish (Vig)
The commission or fee charged by bookmakers on bets. Also known as juice or overround.
Volatility
The rate at which the price of a cryptocurrency increases or decreases. High volatility can affect betting bankrolls significantly.
W
Wallet Address
A unique string of characters used to receive cryptocurrency. Similar to a bank account number for crypto transactions.
Wager
Another term for a bet or the act of placing a bet on an event or outcome.
Web3
The next generation of the internet built on blockchain technology, enabling decentralized applications including betting platforms.
Can't Find a Term?
If you're looking for a specific crypto betting term that's not listed here, let us know and we'll add it to our glossary.