What Is Litecoin Gambling?
Litecoin, being the brother to BTC (Bitcoin), is one of the most popular cryptocurrencies in the digital world. Online Litecoin gambling has become one of the most crowded casinos which means savvy gamblers need to be careful about casino bonuses, quality customer support, security, and privacy measures that they deserve.
LTC gambling or casino sites offer dozens of online casino games like Litecoin table games, Litecoin poker games, Litecoin slot games, Litecoin live dealer games, Litecoin dice games, Litecoin roulette, and other most popular casino games.
Litecoin casino websites are also popular for offering a variety of Litecoin casino bonuses like deposit bonuses, welcome bonuses, and cashback bonuses. So, players must choose the best betting site to make the most out of bonus money and also earn lots of free spins.
In this Litecoin betting review, we are going tLitecoin Gambling Vs. Traditional Gamblingo delve deeper into the Litecoin bonus package, free spins, online games deposits and withdrawals processes and speed, and everything you need to know about the crypto casinos.
How Can You Use Litecoin to Gamble?
New players who gamble with Litecoin and other cryptocurrencies at crypto casinos often wonder how Litecoin online casinos differ from the traditional casino websites. Well, they function in the same manner.
Gambling with cryptocurrency on Litecoin casinos will still require players to register, providing certain personal information, and then deposit funds before the players can start using Litecoin to gamble.
Additionally, best Litecoin casinos also have a plethora of casino games and bonuses organized effectively on the casino websites.
Litecoin casinos are relatively a new development and as time goes by, cryptocurrencies keep gaining traction. Litecoin casinos are legal and reputable and have a wide variety of payment methods to offer.
Litecoin Gambling Vs. Traditional Gambling
|Litecoin Gambling||Traditional Gambling|
|Offers faster transaction speed.||Usually it takes up to 10 to 12 days to complete one transaction.|
|Supports multiple payment methods including cryptocurrencies and e-wallets.||Supports only traditional payment methods such as debit/credit card, bank transfers.|
|Provides provably fair games and other exciting casino games such as Litecoin poker, LTC dice, and many more.||Limited collection of games.|
Pros and Cons of Litecoin Online Casino and Gambling
Like any other cryptocurrencies used at online casinos, Litecoin betting too comes with its set of pros and cons. Players are advised to go through multiple Litecoin casino reviews to make an informed decision about Litecoin casino offers to play casino games here.
Litecoin casinos reward new players with their welcome bonus and many other Litecoin casino bonuses. But they are more complicated than they seem to be. The different Litecoin casino bonuses are discussed here –
- Matched Deposit Bonus – Typically, a welcome bonus involves matching the value of the first deposit by a percentage up to the given amount.
- Free Spins – Litecoin casinos offer free spins on Litecoin slots to new gamblers and sometimes the free spins are bundled with Litecoin casino bonuses. And since they are basically risk-free, players are happy spinning!
- No Deposit Bonus – The no deposit bonuses do not come that often but players can use these no deposit bonuses without making their initial deposits. All they have to do is create an account at any Litecoin casino that offers a no deposit bonus, confirm email address and other personal information and the casino will instantly add the no deposit bonus to the player’s account balance.
It is important to note that every bonus at Litecoin casinos comes with wagering requirements that players must meet before winnings are accumulated by using bonus money. And these can be withdrawn. Wagering requirements are given in multiples.
For wagering requirements on a $10 deposit bonus is x20, it implies that the player needs to gamble $200 before they can withdraw their winnings. These wagering requirements usually vary from one Litecoin casino to another but they are typically around 40x at most Litecoin casinos.
Players should gamble only at licensed and legal Litecoin betting sites, the ones which are trustworthy and reputable. It is important to look out for the security and privacy features that one would normally look for in a normal online casino.
Security features include a good license from a known regulatory body, affiliations, responsive customer support service, and 3rd-party certification. Whenever casino games are played for real money, these security features become extremely essential. When it comes to crypto coins, scammers and fraudsters are most likely to prowl.
Among other cryptocurrencies, Litecoin is the safest way for deposits and withdrawals with the Litecoin blockchain technology that uses the best encryption on the internet. However, the crypto uses such an algorithm that makes it less safe than Bitcoin and hence, this is something that players must consider while gambling at Litecoin casinos.
Coming to the third most important factor, withdrawal speed. Litecoin currency is not affiliated with financial entities or banks and the transactions made through Litecoin are done via a decentralized network of computer systems that do not differentiate between off or working days.
This is the sole reason why cryptocurrency transactions, be it Litecoin or Bitcoin, tend to be much faster than those payment options that use traditional methods like bank transfers or credit/debit card payments.
Most importantly, Litecoin transactions tend to be 4 times faster than Bitcoin transactions, with an average transaction speed of 2.5 minutes (compared to 20 minutes transaction speed for Bitcoin).
One of the best things about Litecoin casinos is that they often do not charge any fees from their players for depositing and withdrawing money in Litecoin. The fees at Litecoin casinos are so negligible that players happily continue gambling at these online casinos.
However, Litecoin casinos do charge some fees that are substantially quite low. Every cryptocurrency over the blockchain technology requires a small fee for selling or purchasing Litecoin.
Additionally, players may also be charged another small fee that is usually a percentage of the amount transferred from the cryptocurrency wallet.
However, on the sad part, players may also lose some cash because of the exchange rate as certain online casinos charge fees while converting fiat currency to cryptocurrency.
Even though there is more than one fee charged by Litecoin casinos, if players combine all the numbers, it should not be a lot compared to other online casinos. But it is advised to all players to check the rules, terms, and conditions of the cryptocurrency wallet along with the Litecoin casino to ensure that they are securing a safe and great deal.
Coming to the cons of online gambling, the first disadvantage is the trading risks involved in online gambling. Cryptocurrencies such as Litecoin can be remarkably volatile and the worth of Litecoin at any crypto casino may greatly fluctuate from one time to another.
This leads certain players to worry that the deposit amounts may not be worth too much for long as they may be losing out on their funds.
If a crypto casino, including LTC casino sites, is not well licensed, it means gambling at such an online casino would put money at risk. For this reason, it is essential that players join only those Litecoin online casinos that are reputable, legal, and licensed by a well-known regulatory body.
Exchanging to Playing Currency
Most online casinos that accept Litecoin deposits do not enable players to gamble using Litecoin. This means that players need to use an online Litecoin wallet through which they can pay in Litecoin but the online casinos receive the funds in fiat currency or allow the casino to exchange the currency itself.
So, either way, the exchange rate between fiat to crypto or crypto to fiat may not always be favorable to the players.
Why Do People Love Gambling Online With Litecoin?
Impressive online gambling with Litecoin casinos offers the best features that people love while gambling at Litecoin online casinos. The best Litecoin casinos allow players to test their talents and skills to try their luck in sports betting and gambling before spending hefty amounts of money using Litecoin for online gambling.
Additionally, over and above the available traditional casino games, players can enjoy the LTC casino games like table games, Litecoin poker games, Litecoin slot games, Litecoin dice games, Litecoin roulette, Litecoin video poker, and many other crypto games.
To know more about why people love to keep gambling online with Litecoin, read the following.
Faster Transaction Times
Transaction methods or payment methods at most casinos make players wait much longer. But with Litecoin casinos offer instant transactions and the funds are sent instantly. The processing time for every Litecoin transaction takes around 2.5 minutes. This rate is around 4 times faster than its brother network, Bitcoin.
Lower Fees Than Other Cryptocurrencies
While most Litecoin casinos listed in many reviews state that they do not charge any fees for withdrawals anymore, many casinos still do. These sites mostly charge for using Litecoin for payouts than if the player requests a check or a wire.
Better payouts are a relatively new feature for transactions and Litecoin online gambling. Essentially, players can resolve their sports betting before they are settled for a lower but guaranteed profit.
For instance, the Lakers are leading the Warriors by 3 points with 10 minutes remaining on the clock, and most bettors would think that the Warriors could pull back. Players, with in-play, have the option to pay out their bets on the Warriors to win.
Fun to Play Games
Litecoin is a well-established coin and there are dozens of Litecoin casinos and Litecoin sportsbooks that accept Litecoin. They support everything from the popular traditional casino games like sports betting, video poker table games including Litecoin roulette, and slot games that come with slot machines.
The best Litecoin casino games contribute various amounts to the overall wagering requirement that is expressed as a percentage. The wagering requirement is weighted based on the house edge of a particular game.
The ‘provably Fair’ Principle
Along with the above-mentioned factors, it is also advised to look for those best Bitcoin casinos and Litecoin casinos that offer provably fair software. Provably fair games ensure that neither the LTC casino nor the players can cheat at Litecoin games and other casino games, thereby making these live casinos the safest place on earth.
Though this factor does not directly impact Litecoin sports betting or gambling, it proves that the Litecoin casino is taking an extra security measure for the safety of its players’ funds.
Key Factors to Keep in Mind Before Choose Any Litecoin Gambling Sites
The best Litecoin gambling sites are mostly unregulated and new. This is one of the reasons why players may want to review some Litecoin casinos first.
If an online casino account suddenly closes down, they would have very little chance of getting their funds back, if the online casino is not reliable and reputable. So, here are a few key factors to keep in mind before choosing the best Litecoin casinos.
Restricted Countries & Regulation
While US citizens can legally buy Litecoin and use any digital currency to fund offshore betting accounts, this is not the same everywhere. Many countries have different regulations when it comes to crypto online casinos and best crypto sports betting sites.
There is no federal gambling law that prevents US residents from accessing crypto or offshore Litecoin casino sites. The Federal United States Gambling laws are directed at the domestic operators.
Among all the states in the US, only Washington has enacted certain gambling laws that forbid its residents from accessing the offshore Litecoin casino sites. This means anyone from Washington will never be prosecuted for using any online gambling services.
Reputation and Trust
Players must ensure that the Litecoin casino they choose is reputable after going through several genuine reviews. Usually, established brands are safer to bet on Litecoin and users must stick to those platforms that are in the trading business for more than five years.
Gambler reviews in different public domains are useful though it is important to be aware of the fake reviews as well that are usually commissioned by the online casino operators.
Payout and Withdraw Speeds & Terms
Unlike other cryptocurrencies, Litecoin offers a faster transfer speed because of faster block generation. It features high-quality casino games, quick payouts, and secure transactions with responsive customer support. Additionally, since there are no couriers or banks involved in the Litecoin transactions, they are limited to the network’s speed only for processing the withdrawals and payouts.
This implies that players get their money within a few minutes by using Litecoin than they would have with traditional payments. Traditional transaction processes take about 10 to 12 days to complete.
For an online casino to be safe, secure, and reliable, it should own a genuine and valid gambling license from a well-known regulatory body. This implies that the online casino undergoes screening and several security tests by such license issuers in charge.
Apart from this, the casino’s security measures must be of high level and also protected by the current SSL (Secure Sockets Layer) encryption technology.
Bonuses & Rewards
Litecoin casinos generally offer an impressive and ongoing reward program of certain descriptions for their loyal customers. All the players need to do to enjoy such rewards is to keep up the steady flow of deposits and bet Litecoin in different casino games and sports betting.
The awarded points will keep streaming too that again can be exchanged for various perks and benefits such as deposit bonuses, free spins, gifts, and free bets.
Provably Fair Litecoin Games
Provably fair LTC games are the future of casinos and gambling and this ensures that provably fair will not stop functioning eventually. Players should not blindly trust every gambling site since many of them are not provably fair and most of the time the outcome of the bets is manipulated.
Provably fair games provide a way for players and casinos to add to number randomization that removes the possibility of cheating in the game.
Cryptocurrency Compatibility as an LTC
Even though Litecoin is relatively smaller than its brother, Bitcoin in terms of crypto market capitalization, price, and volume, it still continues to be one of the most preferred crypto coins in the world because of its compatibility in many online casinos as well as its fast transaction speeds. Litecoin ranks in the fourth position in terms of compatibility in casinos and that is quite impressive.
Litecoin casinos function in the same way as their Bitcoin counterparts. Players deposit Litecoin to initiate a transaction and transfer the coin smoothly directly from the digital wallet to the casino’s wallet. So, based on the chosen casino, the player may or may not be allowed to withdraw using Litecoin since not all casinos accept Litecoin.
Litecoin Gambling: Guide, Tips and Tricks
How Can I Start to Gamble With Litecoin?
Litecoin gambling is no rocket science and the steps to acquire and use Litecoin for crypto betting sites and gambling are simple and straightforward. This Litecoin gambling guide will help players to get on their way to gambling with ease and offer more time to play their favorite games.
Step-by-step guide on how to register online at Litecoin gambling sites.
Step 1: Choose a legit Litecoin Gambling site
First things first, players should head over to a reliable crypto exchange and provide their basic information like name, preferred email ID, password, and even their phone number.
Choose LTC and check the current price and select Buy.
At this point, the exchange will ask to submit an ID (a photocopy of any official document such as a driver’s license or passport). Players can buy as much Litecoin as they need by using any of the payment methods available at the casino.
Step 2: Create an account
Once the player has settled on a Litecoin sportsbook or casino, it is time to create an account. Compared to the traditional fiat casinos, where all the players need to give upfront is an email ID and password. This is one big advantage of using crypto casinos instead of fiat i.e., anonymity and ease!
Step 3: Buy LTC from Crypto Exchanges and transfer funds to Litecoin Casino site account
Once the account is ready, the players can start depositing some Litecoin. To deposit crypto, go to the Deposit tab on the Litecoin sportsbook and copy the Litecoin wallet address from the trusted crypto exchange. Once that is done, the funds generally get credited to the Litecoin gambling site in a few minutes. And then the players are ready to play!
Step 4: Choose any Provably Fair Litecoin Games and Win!
Most Litecoin sportsbooks and casinos usually list the available gaming options on their page, so the players can dive in with Litecoin games like Litecoin video poker games, Litecoin slot games, Litecoin dice games, and sports betting. Gambling is best when played responsibly. So, it is advised to take some time to set up the betting parameters carefully.
Step 5: Withdraw your winnings
To withdraw winnings from the casino accounts that accept Litecoin, simply go to the account’s overhead section and choose Withdraw. Select the number of winnings to be withdrawn in Litecoin and then enter the Litecoin wallet address where the cash out will be transferred.
How to Withdraw Funds from Litecoin Casino Sites?
Log in to your Litecoin Casino Site account
In Litecoin casinos, withdrawal transactions are possible instantly with deposits. This is the biggest advantage since a player can rarely make both the processes of gambling transactions with just one payment method.
Casinos that accept Litecoin will also allow withdrawal in the same currency. For withdrawal, players simply need to choose the crypto among other payment methods and then ask the casino operator to make the crypto transaction.
Litecoin withdrawal time is extremely fast compared to Bitcoin and it should take up to 10 minutes only till the transaction is added to the LTC blockchain. But, other methods of withdrawals can also be used manually but they usually take too many days to process.
Go to the Withdraw Page
To start withdrawing, go to the banking or cashier section of the Litecoin casino and then click on Withdrawals.
Choose LTC or other Cryptocurrency as a withdrawal method
From the multiple payment options, find Litecoin and select it, keeping in mind that Litecoin will probably be under top cryptocurrency wallets or simply cryptocurrencies. Click on Litecoin.
Type amount you’d like to withdraw
After choosing Litecoin as the preferred payment method, enter the amount to be withdrawn followed by the public wallet address. Upon entering, confirm the amount for the withdrawal process to start.
Retrieve your winnings within 24 hours or even faster
As the withdrawal process starts, wait for the withdrawals to come through. Litecoin withdrawals should take place within 2 to 3 minutes, however, certain online casinos may take up to 24 hours to complete the process. Even so, Litecoin transactions take place faster than other payment methods.
What Are the Uses of Litecoin in Gambling?
To know more about how Litecoin in gambling is useful and why people prefer gambling at Litecoin casinos, here are a few reasons why–
- Litecoin is available widely and it is extremely easy to purchase
- Litecoin transactions are super-fast
- Litecoin circulation is relatively more than other currencies.
- There is a higher chance of increasing the value of the winnings without doing much.
- Litecoin transactions offer complete anonymity and the players can make sure that all the gambling outcomes are provably fair.
- Last but not the least, Litecoin casinos offer massive and generous bonuses including deposit bonuses and free spins.
Future of Litecoin Gambling Sites
Litecoin gambling plans to produce about 84 million Litecoin and this is about 4 times more than Bitcoin that has planned to produce only 21 million.
Compared to Bitcoin casinos, Litecoin is more advantageous for casino players. In 2021, it is looking promising and has achieved its all-time best highs and lows in the previous year. However, Litecoin volatility is something that can never be exactly predicted!
What Kind of Litecoin Gambling Platforms Are There?
Provably Fair Gambling – Several Litecoin casinos have realized that using provably fair games like a bargaining chip could be useful and since then they have been using it. Nevertheless, multiple players have no clue even now about Provably Fair Games and its ability to check the gaming results.
Hybrids or LTC-Only Operators – Hybrid platforms accept both Litecoin and fiat currencies for depositing and withdrawing processes.
Tips for Gambling With Litecoin
Check if the Litecoin Gambling site has a good reputation with a decent amount of players?
The golden tip for gambling is to search for those online casinos that have been in the business for more than five years, are well-known, and have received above-par reviews from several kinds of players. If there is any doubt in mind, it is worth carrying out individual research and making sure that the casinos have genuine and valid licenses. If that still does not bring confidence, it is best to get in contact with the customer support of that particular casino to find out more information about the fees and transaction speeds.
Games you want to play are there
Choose a best crypto casino that not only accepts Litecoin but also offers eligible games or casino games developed by top software providers that contribute various amounts to the overall wagering requirement that is expressed as a percent. The wagering requirement is weighted based on the house edge of the casino games.
For instance, if a player gambles $200 and withdraws the winnings after receiving a $10 bonus at 20x wagering requirement.
Litecoin slots generally contribute about 100% to a player’s wagering requirement. This means the entire value of the bets on the Litecoin slots goes to the $200 total. But that is not the case in roulettes. Casino games like Roulette may only put 20 percent of the stake to the wagering requirement, which means only $0.20 of each dollar gambled will count.
Don’t store all of your winnings at the Litecoin Gambling site — set up a wallet
The sole objective of using a Litecoin wallet is to save or store Litecoin. Many experts advise keeping their funds away from online casinos as it is not a good idea. No matter how high the level of security is at the online casino or how many best reviews it has received, it is still not a good option to store funds at a casino.
An online casino is frequently targeted by fraudsters and hackers so, players would want to ensure that their money is not stored in the casino account unless they are going to use the funds immediately to gamble.
Many players find setting up their own Litecoin wallet quite intimidating and confusing at first but eventually, it becomes very simple and can be set with just a few steps. There are multiple kinds of Litecoin wallets that players can use such as cold wallets, paper wallets, and software wallets. No matter where they are gambling, the most convenient type of crypto wallet for a player depends on what they want to use it for. For this, some research may be required in order to be 100% sure of the Litecoin wallets.
While buying crypto coins, players will certainly need to store the coins somewhere and the safest place to store them is crypto wallets.
Take advantage of the welcome bonuses
One of the main differences between a traditional casino and an online casino, especially cryptocurrency casinos, is that the latter comes with a generous welcome bonus. The reason behind this is that there is massive competition currently among the crypto casinos and they are all the more eager to woo new clients to their platform. Most of them use the huge welcome bonus to entice them to register at their platform. Sometimes the welcome bonus is bundled with free spins like 100 free spins or 200 free spins.
Make sure support is live
Last but not the least, gambling experience becomes incomplete if the customer support is not efficient and effective. Any decent crypto casino will include their 24-hour live chat option for their players if something goes wrong during gambling.
The main difference between Bitcoin and online Litecoin gambling is the speed and size of block generation. Bitcoin may be the elder brother, but Litecoin is popular for offering faster transactions that really knock on Bitcoins after it began to grow in popularity.
The model followed by Litecoin blockchain aimed at generating newer blocks that is one-fourth of the time of Bitcoin. From a sports betting point of view, both currencies operate in the same way. If a player can find an LTC gambling site that accepts both BTC and LTC as its payment methods, then they can use both for its deposits and withdrawals from the site they choose.
While most players think of Bitcoin when they think of crypto, many consider Litecoin to be the silver of Bitcoin’s gold. Litecoin is dependent on the Scrypt algorithm which performs less complicated calculations than those algorithms performed by the SHA-256 algorithm at Bitcoin casinos. Since Litecoin needs lesser computational power than Bitcoin, Litecoin mining is, therefore, more accessible compared to Bitcoin mining.
Can you gamble with Litecoin?
Litecoin or LTC is one of the most popular and fastest cryptocurrencies that rapidly followed the success of BTC or Bitcoin into the crypto market. It has been widely accepted as a payment method at multiple online video poker games like Texas Holdem, casinos, and sports betting platforms.
Is online Litecoin gambling legal?
While casinos in the US cannot accept Litecoin payment in many states, there is no law in the US that forbids the citizens from using Litecoin at offshore sports betting and online casinos.
Where can you gamble with Litecoin?
Gambling with Litecoin can be done at multiple casinos that accept Litecoin as a payment method. Players can also play casino games using Litecoin and use LTC for deposits and withdrawals as well.
Can I cash out with LTC?
Although many casinos allow players to withdraw their winnings using LTC, there are a few casinos that do not allow their customers to cash out with Litecoin.