Crypto gambling

Blockchain technology has opened up innumerable possibilities that have revolutionized many industries since the dawn of Bitcoin. Blockchain networks have been exploring their full potential in a number of industries, including crypto gambling and decentralized applications (dApps). If you haven’t experienced these incredible benefits yet, you are not too late.

Latest update 23 January 2023
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What is crypto gambling sites?

In a crypto casino, you can deposit with a cryptocurrency and withdraw your money with a cryptocurrency. The difference between this and a traditional online casino is that you can play using fiat currencies like US dollars, Canadian dollars, yen, or euros.

To get started, you will need a crypto wallet. A crypto wallet is a digital wallet that stores virtual coins and facilitates transactions.

What are Decentralized Crypto Casinos?

dApp casinos are simply casino software with a decentralized component. They are not simply online casinos accepting cryptocurrencies. Instead, they run entirely on the blockchain and feature the advantages enabled by the technology and cryptocurrency tokens.

In addition to the traditional games of Blackjack, Roulette, Craps, Baccarat, and Poker, these casinos also offer a wide variety of unique games like Dice, Plinko, and Crash. Sports betting fans can also enjoy several sports and horse racing products.

These platforms host thousands of gambling dApps, which illustrates the sheer number of developers tapping into the market. TRON, Ethereum, and EOS are the leading blockchain gambling platforms for dApps. Considering that the global gambling market was valued at nearly $450 billion in 2023, 10% of which was contributed by the online sector, it’s easy to see why the interest is growing.

How gambling dApps work

The interactions within a dApp are automated through smart contracts. In the blockchain and decentralized application ecosystem, smart contracts are technological innovations. The contracts are written in the form of codes, and when a predetermined condition is met, they are executed automatically.

In a normal casino app or website, a central provider controls game results and player’s funds. Therefore, the operator could very well make away with players’ funds if they were fraudulent. A dApp casino, however, does not have a central authority that controls the funds of players.

In place of a central authority or third party controlling transactions, a smart contract code runs on the decentralized application. Any exchange of money between the game and the player occurs directly through the decentralized application.

Index

Ethereum, EOS, and TRON Casino dApps

As mentioned earlier, developers leverage the open-source network of a blockchain gambling platform to create dApps and smart contracts. Ethereum is the most popular platform for decentralized applications in all sectors. The Ethereum blockchain was used for over half of all gaming dApps in 2023.

In the past few years, EOS and TRON have been the most popular networks for building gambling dApps, with TRON experiencing the fastest growth. Also in 2023, daily gambling activity on TRON increased 121% to 14,133 daily active unique wallets. It grew 14% month-on-month during January 2023.

Decentralized gambling applications based on Ethereum have become the standard in live casino applications.

Pros of crypto gambling

Here are some advantages of playing at dApp casinos:

Pros

  • It accepts a wide range of cryptocurrencies: You’ll usually find a host of popular cryptocurrencies available at dApp casinos, including Bitcoin, Ethereum, Litecoin, Dogecoin, Tronix, and many others.

  • You can stay anonym: Online gaming is not legalized in many countries to date. In some cases, even banks do not support transactions to and from gambling sites. Blockchain-based casinos offer an alternative. Bitcoin tokens facilitate transactions. Because bitcoin transactions are anonymous, players are free to gamble with bitcoin on a decentralized casino without worrying the government will look over their transactions or waiting for bank approvals.

  • High level of privacy: In contrast to traditional online gambling platforms, there is no KYC requirements for verifying your identity. Many of these sites allow you to play anonymously, so you generally enjoy a high degree of privacy.

  • Low fees: A significant advantage of online gambling with dApp casinos is the low transaction fees. Because there is no middleman, all transactions in the dApp online casino are peer-to-peer, which reduces costs and traffic, which leads us to the next advantage of dApps.

  • Instant payouts: Cryptocurrencies allow instant payment confirmations as well as instant payouts to coins wallets, which makes online gambling withdrawals easier and faster.

  • Provably Fair Games: The current fiat-based online gambling system is highly complex and opaque. Players need to trust the service providers to practice fair play. Using blockchain-enabled cryptographic hash functions and seeds, players can verify each round’s outcome independently. Essentially, the technology prevents game results from being manipulated. In a decentralized casino, the provably fair method involves storing information about the bet, the results, and the outcome on the blockchain’s public ledger.

Best crypto currency for online casinos

A variety of crypto currencies and altcoins are available. The best choice depends on your needs. If we’re talking about acceptability, Bitcoin, Ethereum, Litecoin, Dogecoin, Tether, XRP, Bitcoin Cash and Cardano are the most popular digital coins. In a crypto casino, you won’t be able to miss these options. However, Bitcoin, Ethereum, Bitcoin Cash and Litecoin are the most popular ones. Here’s some information about them.

Bitcoin (BTC)

Despite not being the fastest digital asset, Bitcoin is one of the safest. Created by Satoshi Nakamoto, Bitcoin is completely decentralized, meaning users can send and receive bitcoin without being hampered by third parties.

In the crypto space, Bitcoin is currently the top-ranking digital asset. As a result, many gambling platforms and crypto casinos accept Bitcoin as a payment method.

Bitcoin Cash (BTCH)

BCH, or Bitcoin Cash, is a digital asset that was created in order to eliminate the failures of Bitcoin. BCH offers faster transactions and is extremely user-friendly. Furthermore, its transaction fees are extremely low compared to Bitcoin.

Litecoin (LTC)

Several similarities exist between Litecoin and Bitcoin. However, this digital asset differs in several ways from Bitcoin. For example, Bitcoin transactions are generally faster and cheaper. Furthermore, Litecoin transactions are safe and anonymous. This token is currently used worldwide as a fast payment option.

How to get started with crypto gambling

I this part we will guide you trough how you get started with crypto gambling. Simply follow the steps down below.

  1. Open a wallet – A wallet is the first step you need to take if you want to play cryptocurrency casino games. If you already have one, you can skip these first steps. There are dozens of digital wallets available today, so you can choose from any of them if you’re brand new to this. You will receive a digital address when you register for an account – DO NOT LOSE IT.

  2. Buy coins – Obviously, to deposit and play in crypto, you must have some coins first! Once you have a crypto wallet, you can buy coins using traditional currency, just as you would any other online product. Within seconds, you will have a funded account after choosing the coin you wish to purchase and the amount you wish to purchase (Bitcoin remains the most popular).

  3. Pick a site from our list to play at – We have provided you with a list of sites above that allow you to gamble with cryptocurrency, but you can also read more reviews of other sites that allow you to gamble with cryptocurrency once you are all funded and ready to go. You want a site that offers the type of game you want to play – casino, sports, poker, bingo, etc. Whatever you choose, you have the option of switching to another site at any time.

  4. Make a deposit – All you need to know is that you’ll need an open wallet before you start a transaction. Often, you get “credit” until the funds settle, so the transaction doesn’t take long at all.

  5. Choose a game and start playing – From there, the gameplay is the same as playing with USD or other fiat currency. Go to the lobby, look for a game you want to play, and choose a table and stake level. As always, read the rules of each game, as some have tweaks that can change your chances of winning.

Always keep the value in mind

Finally, when you are gambling in cryptocurrency, you need to consider the exchange rate to your local currency. Playing in Bitcoin or other digital currency will make it seem like you are betting fractions, but in reality you are betting at much higher limits than you have been betting in the past. To manage your bitcoin bankroll well, it is important to know how valuable each bet is.

As more cryptocurrencies are launched, more and more coins can be used at gambling sites. The gaming industry has been one of the earliest adopters of crypto and will continue to develop new ways for you to use your digital wallets to fund your accounts and play your favorite games or to try something new.

Bitcoin gambling VS traditional online casinos

There are quite a few Bitcoin gambling options available in this digital age. While Bitcoin gambling sites offer more than traditional online casinos, there are also some drawbacks to consider.

Here are a few pros and cons of each.

Pros of BTC casinos

  • Many of these sites do not require KYC, while others only require minimal KYC.

  • Fees are low with Bitcoin.

  • Bitcoin payouts are often faster than fiat payments.

  • Bitcoin is faster and has lower fees, which means bigger bonuses.

Cons of BTC casinos

  • Not so regulated

  • No chargebacks. If the casino you choose doesn’t pay, you won’t get your money back.

  • It is possible to make winning bets, but if the price of Bitcoin drops, your win may become a loss.

Blockchain casino safety

We recommend all the casinos we have listed on our site as trustworthy and safe. As gambling dApps do not hold your funds, they only connect to your wallet and their games are provably fair, they are generally considered safer than traditional online casinos. However, there are still a lot of scammers and hackers out there, so it is always a good idea to play only in gambling apps that are reviewed.

How do we rate crypto casinos?

As long-time gamblers we’ve found a process to effectively analyze, review and rank casinos based on a number of factors. Throughout our history, we’ve all learned that what casinos say isn’t necessarily what they can deliver on. In order to analyze and review each casino ranked on our site, we anonymously sign up, deposit, and play. We can mimic the sign-up experience as closely as possible by remaining anonymous throughout the process.

When reviewing casinos, we consider the following factors:

Security and licensing

Crypto casinos are generally known to be safer and more secure than most regular casinos, but this does not mean that all crypto casinos are safe. A site’s legitimacy is determined by its security measures and licenses, which are issued by gaming authorities including the MGA, UKGC, Curacao and others.

When it comes to being fair, handling details, fair and proper bonuses, and everything else that makes a site trustworthy and reputable, licensed sites are held to a high standard. Each license is reviewed by our reviewers to ensure that it is valid and verifiable.

Furthermore, we ensure that the sites have proper security measures, such as SSL 128-bit encryption to secure your details, a reliable payment system, and two-step verification.

Accepted cryptocurrencys

Crypto casinos on our lists must accept a large variety of cryptocurrencies, even if it seems obvious. Although most users stick to the well-known currencies like Bitcoin, we do not want our players to be restricted to these currencies. Because of this, every crypto casino on our list must accept at least three cryptocurrencies.

Bitcoin, Ethereum, Bitcoin Cash, and Litecoin are the most commonly accepted currencies. Crypto casinos will require more cryptos as more cryptos become popular and pop up.

Bonuses & promotions

In addition to bonuses and promotions offered by casinos, a lot of players are attracted to them. A larger budget is a great way to get a head start and play at higher stakes than you would normally play at, or to simply extend your casino experience.

Considering that Bitcoin casinos are held to a higher standard when it comes to bonuses and promotions, we make sure that all of the casinos on our list provide a sizeable welcome bonus. Also, a lot of the casinos we review have decided to offer CryptoCasinos players a better welcome bonus than their usual welcome bonus, so keep an eye out for exclusive bonus offers.

Summary of crypto gambling

As of now, many people are still overpaying for transaction fees at online casinos. Fortunately, you have just learned how to play at crypto casinos with greatly reduced fees.

As cryptocurrencies become more popular, more bitcoin casinos will accept virtual coins in the coming months and years. Bitcoin is one of the most secure ways to deposit and withdraw funds at an online casino.

Seeing the great bonuses, reward schemes, and variety of games available, there’s no stopping you from checking out our recommended sites.

FAQ

What games can i play at crypto gambling sites?

You should explore the choice of games available at a crypto casino before you create an account with them. This depends on the crypto casino you play at. As we provide details of the game selection for each bitcoin casino we review, you shouldn’t have trouble finding a bitcoin casino with a selection of games that suits your taste. A crypto casino site should offer any popular game, since they’re no different from regular casinos.

How do i sign up at a crypto casino?

As with any online casino, you create an account with a crypto casino by entering a few personal details, depositing funds, and allowing yourself to take advantage of the wide variety of games available. The only difference is that you aren’t required to enter as much information as you are with a conventional online casino because a crypto casino doesn’t require your financial information. The registration process is therefore a lot faster.

Are crypto gambling sites safe to play at?

The legitimacy and trustworthiness of crypto casinos varies just like that of traditional casinos. Due to how crypto transactions work, crypto casinos are generally safer than traditional casinos. It’s still important to make sure the casino you’re signing up for is licensed and secure.

How can i deposit with cryptocurrency at a casino online?

In order to deposit funds into your account using cryptocurrencies, you need to create an account with the site you intend to deposit money with. Next, you need to go to the deposit page and select the cryptocurrency you wish to use.

Lastly, you need to follow the instructions on the page, usually involving logging in with your crypto wallet, or sending the deposit amount to the casino’s wallet.