If you are looking to make a bet on your favorite team or have picked up a
great tip for a horse that you simply have to jump on, Litecoin sportsbooks give
you an opportunity to put your LTC to action. We’ll tell you all about the best
sites for betting sports that accept LTC, as well as what to avoid as a sports
bettor in general.
The Top Litecoin Gambling Sites of 2024
The cryptocurrency market has exploded since the introduction of Bitcoin in
2009. Regardless of how nefarious the reasons were for originally creating fully
anonymous, decentralized currency for payments, the bottom line is that these
days, people are looking for a way to protect their money and their personal
information.
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Litecoin (LTC is the trading symbol) was one of the
cryptocurrencies that quickly followed the success of Bitcoin into the market,
and today it can be found as a payment option at many online poker, casino, and
sports betting sites.
We know that you have probably read loads of news pieces about
cryptocurrency, and a lot of it can seem very confusing. We want you to have all
the information you need to make an informed decision about using Litecoin.
At gambling-giant.org, we have an entire
review section where our
team rates and recommends all types of gambling sites based on a variety of
criteria. One of these criteria is the payment options available at a site. We
want you to have as many choices of great sites to play with as possible,
especially if you are planning to use LTC. If you don’t want to try one of the
sites we recommended above, then just head to our other reviews, and you will
quickly find some more available options.
What Is Litecoin Anyway?
As we mentioned, the emergence of Bitcoin as a potentially viable currency in
decentralized format quickly spawned other platforms and currencies. Litecoin
was launched in 2011 on Github by a Google employee,
Charles Lee. The
open-source platform and cryptocurrency were modeled on Bitcoin. In fact, it was
about as close to a copy as you could find. The currency works upon the same
premise – all the transactions are stored on a common ledger, which is secured
by a series of mathematical equations that are constantly being coded and
decoded on individual machines around the world.
As a fork from the original core chain of Bitcoin, the main difference
between Litecoin and Bitcoin was the size and speed of block generation. This
makes all the transactions faster, which was an early knock on Bitcoin after it
started to grow in popularity. The Litecoin model aimed to generate new blocks
in 1/4 the time of Bitcoin. If you want to read more on the math behind LTC, you
can head to their site here.
From a gambling perspective, the two currencies work the same. If you can
find a site that offers LTC as a payment option, then you can use yours to both
deposit and withdraw from the site you choose.
How to Buy Litecoin and Use It at a Gaming Site
The steps to acquiring and using LTC for gambling are much simpler than ever
before. This handy step-by-step guide will get you on your way with ease, and
that gives you more time to play your favorite games.
- Open a Litecoin wallet
- Validate your personal information
- Buy LTC
- Find sites that accept LTC as payment
- Connect your gaming wallet with your crypto wallet
- Play your favorite games!
Open a Litecoin Wallet
Technically, the wallet you use to buy and pay with Litecoin is the same
wallet you would use to buy other cryptocurrencies. If you already have a wallet
set up, then you can skip to the 3rd step in this process. For those of you who
are starting from scratch, then you want to find a wallet that is commonly being
used in the industry, such as any of the following:
- Coinbase
- Jaxx
- Stash
- Bittrex
- Mobi
- Coinomi
- Webmoney
Validate Your Personal Information
This is a very important step because once you have everything validated,
including your banking information, you will be entering a world where
everything is anonymous. This is excellent for people who both want to protect
their personal information and also to hide the gaming transactions they are
performing.
Buy Some LTC
When your wallet is set up and ready to fund, buying LTC is actually quite
simple. All you have to do is search for the currency within the wallet, which
is set up almost like a stock exchange. LTC will appear, along with the current
price of each coin. You should remember that Litecoin is traded on these
exchanges, so the value of the coin is constantly changing. You can choose the
amount of LTC you wish to purchase, and then with a couple of clicks, you will
see the balance in your wallet. Depending on which funding method you choose,
you may be limited in the amount of coin you can buy in one transaction or on a
daily basis, but this shouldn’t stop you from getting enough to head to a
casino.
Pick a Site That Accepts LTC
We have already provided you with a great list of possibilities for gambling
sites that accept LTC, but if you are someone who prefers to do their own
research, we can give you the tools you need to find the right site. Our reviews
all focus on a set of criteria, and you can read all about our methodology here.
Armed with this knowledge, you can look for sites on your own, and if you
need any help, our site is always here to provide insight and recommendations.
Connect Your Gaming Account with Your LTC Wallet
This may sound difficult, but it really only takes a few clicks. In the
cashier section of the gambling site will be a link for LTC payments, which will
take you to a page for entering your wallet information. This unique ID will
confirm your LTC balance and then facilitate the transfer of funds to the site
you have chosen.
Pros and ConsUsing LTC for Gambling
There are many players who may think that having to take all the above steps
just to use LTC for gambling when they could just use credit or debit cards is
too much effort. Well, while this indeed a slightly longer process, there are
some advantages to doing so. Let’s look at some of the good and bad aspects of
using LTC.
- Bonuses
- Security
- Withdrawal Speed
- Lower Fees
It is much cheaper
for gaming sites to use cryptocurrency for payments, so they can pass along the
savings to you in the form of more aggressive bonuses. Some sites offer bonuses
up to double the standard for those who choose to use LTC for their deposits.
It goes without
saying that if you are using an anonymous, decentralized form of payment, there
is very little chance of having those details compromised. Aside from the
privacy angle, the confidence in knowing your banking information can’t be
stolen is enough to move players to Litecoin.
With no
banks, mail, or couriers involved, LTC transactions are only limited to the
speed of the network to process. This means you can get your money within
minutes using LTC versus having to wait for up to 10 days for traditional
payments.
While most
sites don’t charge you for your withdrawals anymore, some still do. These sites
are likely going to charge you less for using LTC for payouts than if you
request a wire or a check.
- Trading Risk
- Site Licensing
- Exchanging to Playing Currency
These
currencies are on a roller coaster when it comes to their value. It is still a
new business model, and until there is more volume, the highs and lows of LTC
value can cause owners a lot of stress. Keep an eye on the value of your coin so
that you don’t have a panic attack when you go to sell some.
The first
set of gambling sites that used LTC and other crypto for payments were the ones
having the hardest time getting traditional forms of payments approved. Many of
these sites run without proper gaming licensing, so you really want to pay
attention to our reviews and recommendations to find sites that we trust.
Most sites don’t allow you to play in LTC, forcing you to “transfer”
to USD or Euro in order to sit at a table. Each transfer is based on an exchange
rate which may shave a few points off here and there. If you want to avoid this,
then you should be on the hunt for a site that allows for play in LTC.
Litecoin Gambling Sites
The online gambling industry was one of the first to widely accept
cryptocurrency as a form of payment. As a result, there are many different sites
to choose from if you want to use LTC. We have dedicated some pages on our site
to these different types of Litecoin betting sites
Litecoin Sports Betting Sites
Litecoin Poker Sites
The online poker market may have matured, but that doesn’t mean it is slowing
down in popularity! While there are fewer sites to choose from, you still need
to consider what an LTC poker site offers you regarding liquidity and game
selection. Our guide will show which ones are the best for
all types.
Litecoin Casino Sites
If you can find the right combination of game content, bonuses, and loyalty
programs, then you are in great shape when playing an online casino. Take
advantage of aggressive offers by using your LTC to make deposits, and you will
further enhance your chances of being a winning player at a site. We’ll review
the best bonuses as well as what you should be looking for in the way of
software providers.
Litecoin Esports Sites
Esports is sweeping the globe as the next big sport for gambling. These
virtual worlds are transformed into gaming battles, and betting on the best
professional esports teams in the world has become big business for online
sites. These events tend to draw a much younger audience than traditional
sports, and this younger player is more likely to be someone willing to use LTC
and other crypto to pay for their bets.
The Future of Litecoin Gambling Sites
Litecoin has been around for over 5 years, and given the growth of the
cryptocurrency market as a whole, it seems only fitting that the people behind
Bitcoin and Litecoin should benefit from it. Having been around for years has
given the LTC brain trust a chance to modify their platform, improving it where
possible. There will be more LTC gambling sites coming, including those that
exclusively use the coin for payments. Keep an eye on this page and website for
updated information on the future of the industry.
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