Online casinos are an increasingly popular form of real-money internet entertainment. For decades, they were only available in European countries but today, they are spreading all over the world. The idea of playing the slots or blackjack without leaving the house sounds fun. Like all other forms of entertainment, online gambling has its own jargon. This short glossary contains the most common online casino terms you’ll stumble upon.
A welcome bonus is pretty much what it sounds like: a bonus offered by the casino as a welcoming gift. This can be of several types:
• A no-deposit bonus is offered as soon as you register an account – it can consist of funds to play with or free rounds at various games.
• A first deposit bonus is offered in relation to your first real-money deposit in your account – it’s usually expressed as a percentage.
• A welcome package can consist of several deposit bonuses and other benefits (like free rounds) offered to new players.
Spin Casino, for example, offers its new players a welcome package of up to $1000 consisting of a first deposit bonus or deposit match worth up to $400 and further bonuses on the players’ second, third, and fourth deposit.
The bonus you receive at an online casino is not real money. What you get are bonus funds that you can use inside the casino – but you can’t withdraw them to your bank account.
To be able to withdraw your winnings generated using the bonus funds you received, you’ll have to complete the applicable wagering requirements. In a nutshell, you’ll have to wager the money you received as a bonus a number of times before it is “released” so you’ll be able to withdraw it.
To stick with the above example, the welcome package at Spin Casino comes with 70x wagering requirements – this means that you’ll have to wager the money received 70 times before you can withdraw. So, for example, if you receive a bonus of $10, you’ll have to wager $700 before the bonus becomes real-life money you can actually spend.
Money-related online casino terms
If you made it here, you’re already familiar with some money-related online casino terms, like bonus funds, deposit match, and withdrawal. Here are some more terms that you’ll commonly stumble upon at an online casino:
• Bankroll – the money you play with. As a general rule, it should never exceed the amount you’re OK losing.
• Cashier – in an online casino, it’s used in relation to the section of the website where you can deposit or withdraw funds.
• Cash out or withdraw – the act of transferring money from your casino account to your bank account / eWallet.
• Deposit method: the means through which you can make a deposit. This can be a bank card, money transfer or any number of online payment methods.
• Withdrawal method: pretty much the same as a deposit method, only in the other direction.
Game-related casino terms
Most games have specific names for various features that are pretty self-explanatory. There are, in turn, a few that need a bit of explanation, like:
• RTP (return to player) or expected win rate (percentage): the percentage of funds you can expect to win, on average, when playing a game. The average online slot machine, for example, has an RTP of around 95% (meaning that you can expect to lose $5 for every $100 wagered).
• House edge: the advantage of the casino built into every game. Most casino games pay slightly under the real odds – the difference represents the profit margin of the casino. For example, a game of blackjack with a house edge of 2% generates $2 in profits for the casino for every $100 spent.
• Gross winnings / net winnings: the amount of money you receive after a winning round. The gross winnings represent the total of your wager and your winnings, while the net winnings represent the amount you won, without counting the amount you wagered.
• Progressive jackpot: the most craved-for prize when playing at an online casino. The progressive jackpot is paid out under special circumstances, and it’s usually very high – often into millions. The “progressive” part means that the jackpot grows constantly until it’s won.
These are, of course, only the basics. There are many other casino-related terms that you’ll stumble upon when playing online. If there is any you need an explanation for, feel free to return and ask us about it.