Digitization has entered every walk of our life as we live in a digital era with the internet having proliferated in every sphere. Just like other industries, the gambling industry has also undergone changes from the traditional modes of gambling to high-end casinos and now online gambling. Gambling is no longer restricted by territory or wealth and has become widespread across the globe and has gained popularity with the middle classes too. Earlier gambling was usually restricted to the elite classes, but with online gambling, like digital casinos, the accessibility has widened enormously. A decade back when cryptocurrency was ‘mainstreamed’ and Bitcoin started to gain popularity, online casinos started using cryptocurrency as a payment method to the extent that some became exclusive ‘crypto-casinos.’ The alliance of the gambling industry and cryptocurrency has almost changed the course of the betting industry.
With mounting popularity, the online gambling industry has developed a language of its own, certain slangs that are frequently used by players have come to be associated with the gambling fraternity. Ordinarily, every sport develops its own language, official or unofficial, and gambling, too, has developed its own vocabulary designated by fans and used by them to describe specific situations. Few of the slangs that are commonly used by gamblers are-
- Beginner’s Luck is the initial winning spell of a newcomer without professional experience; in other words, when a person inexperienced in gambling is on a winning spree, this slang is used.
- Fish is used to imply a less favorable situation when players with slightly less experience are on a losing spree. Usually, it is used when players lose money at a fast rate, and thus while gambling, one should look out for the fish before he turns out to be the fish!
- Cage is the place where one can find the cashier in a casino and is sometimes called the heart of the casino. This is where the main stash is found and it is here that the betting chips can be exchanged for cash.
- Hot describes a player who has got lucky and is on a winning spree and thus, one should be looking for such an opportunity as a favorable position can help you to win.
- Jackpot is a huge win at a single strike or just after a few sizeable bets. All players want to hear this term while gambling, as it means they can take back home the amount of cash they have won. This is the very purpose of gambling and every player wants to hit the jackpot.
- Juice is a term used to describe how a betting operator gets a ‘vigorish’ or house edge commission. It implies the money that the operator is given for accepting the bets and the cut amount varies from 10 to 20% depending on the bet and the sport.
- Cold is often certain tables, or slot machines yield continuous losses, and players crap the tables or machines. However, this keeps changing with time and no table is always hot or cold and occasionally, the hot table can turn cold and vice versa.
- Whales: Some players own hefty bets, which are greater than the highest rolls and are described as This term is not applied to a specific game but to players whose bets are quite large. Some casinos also offer them complimentary drinks, accommodation in suites, etc.
- Chase implies betting moves by players on a losing spree to win back the lost amount. However, this is not advisable as often chasing losses can lead to a further loss for players who may be hard to recover.
- Bookie is another such term used to indicate a bookmarker who accepts bets on different events like football, horse racing, etc. He thus helps in facilitating the game by setting up the odds, placing the bets and so on.
There are several other terms used though the aforesaid ones are the most common; others are Ante, ColourUp, Eye-in-the sky, Junket and Washing.
- Ante, for instance, implies the bet the player has to make before others place their bet so that the pot never lacks money and thus helps to keep the ‘game on the roll.’
- ColourUp refers to the different kinds of chips that players use to play with.
- Washing is the process where players rub their hands to show they are not carrying any chips.
- Eye-in-the-Sky is slang for security cameras installed in the casino to keep a tab on the activities of the players’ guests etc.
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Thus cryptocurrency is gradually becoming an integral part of the gambling industry, especially online gambling. Its acceptance and usage are likely to increase manifold in the near future with further digitization of the entertainment and sports industry and the emergence of platforms like MintDice.