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Degen Owl

Glossary

Crypto casino and betting terms explained in one plain sentence, from RTP to rollover.

H

  • House edge

    The house edge is the share of each bet a casino expects to keep on average over the long run, equal to 100% minus the RTP of the game.

K

  • KYC

    KYC, short for know your customer, is the identity check where a casino asks for documents such as a passport and proof of address, often before it pays out a withdrawal.

P

  • Provably fair

    Provably fair is a way for a casino to prove, with a hash it publishes before the bet and a seed it reveals after, that it did not change the result of the bet.

R

  • Rakeback

    Rakeback is a reward that returns part of the house edge on every bet you place (in poker, part of the rake you paid), whether the bet wins or loses.

  • RTP

    RTP, short for return to player, is the share of all the money bet on a game that it pays back to players over a very large number of bets, shown as a percentage.

W

  • Wagering requirement

    A wagering requirement is the total amount you have to bet, usually a multiple of the bonus, before winnings from that bonus can be withdrawn.