Gambling and Casino is a different world altogether. The energies are different, space is different and even the lingo is different. Although the lingos used in the casino world are different than the non-casino world, the casino dictionary is the same across the world. Just like universal rules for every game, some lingos are also universal. This is the reason that people all over the world feel familiar in all the casinos in the world and are compatible to play at the different casinos.
Talking about the universal lingos, and words that are inherited by the casino players and the casinos, the use of the word Nickel is rather interesting. Nickel which otherwise is an alloy stands for a win or a loss or bet for a value of $500. A $500 wager is addressed as a Nickel. Whenever a term nickel is used, a wager of $500 is made either in Poker or roulette or other machine games.
The origin of the word Nickel:
The term Nickel finds its origin in the North American gambling slang but now is a famous term in gambling across the world. In the US currency system, a coin with 5 cent value engraved on it was called as a nickel. In the early days a 5 cent coin was used for betting, therefore, it used to be called as ‘I have bet a nickel’. Soon, when the betting was increased in volume, 5 cents got replaced by $500. Even today, nickel is used interchangeably used for a value of $500 or 5 cent depending on the context of the game.
Nickel: the context in which it is used:
Nickel represents 5 cents. A person betting on 5 cents was said to have bet a nickel. If the person won or lost, it is referred to as a person has won/lost nickel. The term nickel represents a colloquial name for 5 cents. Ever since the casinos have been formalised, it becomes very difficult for casino companies to earn profits on a bet of a nickel. Thus as times changed, a nickel was referred to $500. 5 cents started to be called as ‘line nickel’ and another term that emerged was a ‘big nickel’ which represented $5,000.
Other colloquial terms that emerged were a ‘dime’ which meant $1000 and a big dime which represented $10,000.
Nickel making conversations easy:
A nickel is referred to a coin worth 5 cents. The usage of such terms in the casino brings down the gravity of the amount and brings modesty into the atmosphere. It is also convenient to refer to hard cash in such terms as the players feel comfortable and the discussion also becomes very easy. Since it is a common term, people coming from different parts of the world also find the conversations familiar. Using such terms which are used universally and are defined well remove the ambiguity and make conversations easily conceivable.
Usage of term nickel:
The term nickel has its usage more than just in conversations. There are several slot machines which have been programmed to accept nickel as the base amount. The players get one changes with every nickel. Players can also bet in multiples of nickel in a no-minimum roulette game. In a Poker game, when nickel is on the table, all the players need to raise their betting amounts by nickel. All the players need to bet in multiples of nickel.
So now you know when you hear the term nickel in a casino, $5000 is on stake!