Topic: Which are the best cryptocurrencies for esports betting? (Read 287 times)

Bitcoin and other altcoins which change often in price are not good for gambling. One week you might gamble $10 and then in a month time that might be worth $20. When you are gambling with higher amounts the price change is more noticeable. Stablecoins are the best things for gambling because they do not change price a lot.

ORLY?  But if your favorite coin is the ETH and the transaction cost is $ 20, then you are unlikely to use it, right? Especially if your usual bet is $ 10. It seems to me that the most important qualities in this matter are the reliability and low cost of the transaction. Any stablecoin on a cheap blockchain will perfectly cope with such tasks, you just need to choose from those coins that are used in a particular casino/bookmaker.

It depends really, personally I would use a crypto with low fees & quick confirmation times to bet on esports. I use Litecoin sometimes, the last time cost me $0.07. XRP can be good though, $0.03 fees the last time I used it for esports.

Betting on eSports wouldn't be any different than betting on regular sports. Whatever coins work for normal sports betting should be suitable elsewhere as well. If the market conditions allow it, Bitcoin is a great choice. But it's also connected to the casino your are using. Ideally, the platform should accept instant deposits and not force you to wait for a long time before you can make the bet.

If the mempool conditions don't allow it, opting for USDT (TRC-20), Litecoin, BCH, Tron, Dogecoin, or some other alternative coins is better for faster confirmations and lower network fees.   

Money is money, no matter it's transferred as bitcoin, altcoin stable coin, whatever...
In some cases a casino may attract more players by implementing more payment methods - more altcoins - because for each and everyone the best to spend is the one he already has at hand.
Of course, Bitcoin is king. Of course, some will prefer stable coins because they work/think in dollars, or course that especially when bitcoin's mempool is full, most known altcoins will be preferred. But really, I think that casinos should simply allow all the coins that can be traded at an exchange. Or at least the ones with bigger trading volumes.

Same goes for sports betting. When you have enough knowledge about a specific league, you'll be able to justify who's going to have an advantage, but sometimes the odds are very attractive and could change how the people is supposed to bet.
Anyway, I sometimes feel like betting with stable coin is more convenient than betting with Btc. However, betting with Btc or ETH has higher risk of either lossing the bet or lossing some value when you win.
Well, that's high risk high return works, and we're on gambling anyway so might as well double the risk as well as doubling the reward.

For me, it's bitcoin because it's a high risk high return kind of cryptocurrency when you are using it for sports betting and eSports betting, plus it's easy to win back in eSports betting because if you're familiar with the game and the teams playing, you will be able to accurately predict who's going to win the match.

There are many digital currencies that have been used in betting and including BTC, ETH and USDT, but of the many digital currencies, I would prefer USDT as my betting currency on the betting exchange and Esports, because it is clear that apart from USDT has a more stable value because it refers to the dollar currency value, of course the cheap transaction fees are also my reference for continuing to use USDT in the betting market.

hey karl long time no post .
 i think some altcoins are missing in the list which i believe lots of us here prefer to use more than the cryptos that you have listed but if the answer must be on your list only then i think im going to choose ltc and usdt why because i know ltc is cheap and i also like the stability of usdt has to offer .
im not sure about ada tho if it also cheap and fast like an ltc .

When doge is still cheap, I often use doge to gamble but when the price increase and still does not have a sign to go down to the lower price, I move to trx and sometimes use litecoin. But litecoin fits me to gamble as many casinos have litecoin that we can use to gamble so I can send some litecoin amounts to that casino. For me, using BTC is not recommended because the price now is too high and it is better to sell bitcoin at a high peak than using it for gamble.

I think this is the main thing that people should consider when they choose the "token" that they want to use for online gambling. You can have several coins on the site, but you should mostly use only USDT when you gamble. (Or any other stable coin that are accepted at the casino)

When you use other volatile Crypto currencies, you not only fighting the "house"... you also lose some of your balance due to Crypto price drops. It is nice when the price goes up, because then your balance goes up too, but when the price goes down.. your balance goes quickly too... 

I know some casinos offer some kind of coin exchange service ..where you can exchange one token for another... and this should be standard practice. 

Bitcoin, Ethereum, and Litecoin in my opinion are commonly used by many crypto-based online gambling sites, like it or not, every user who bets in online gambling must make deposits and withdrawals, because that is all that is provided.

If i may suggest to you, additional crypto in esports i think is better right now and the best one is: Cardano (ADA), there's a reason for me to say that.
1. A cheap deposit fee is only charged 1 (ADA), in every transaction, this is to make it easier for users who bet with a minimal budget to still be able to play and in esports betting, on the other hand ADA also has advantages such as making transactions can be 2 ADA and so on unlike BTC, LTC and ETH have a minimum.

I think (ADA), crypto which is good for now included in the deposit and withdrawal system on current gambling sites, is easier and affordable.

Any coin will do if you plan on gambling with crypto but the bigger issue when it comes to Bitcoin and Ethereum is the fees and not the price. The price changes is one of the least things you should be worrying about because not everyone gambles for a long time. Another issue is that each coin have their own deposit and withdraw limits and Bitcoin have one of the bigger limits and bigger fees between most casinos. I myself still use Bitcoin but I don't recommend it, I just have to deal with it and switch casinos/bookies from time to time since my local exchange doesn't take any altcoins.

I don't have a particular cryptocurrency considered favorite only for esports betting. My cryptocurrencies of choice when it comes to gambling remain the same whether the gambling is on casinos or sports betting or esports betting. I am of course avoiding Bitcoin and Ethereum as much as possible because of the fees. I think many crypto gamblers are also doing the same. So I normally prefer either LTC or XRP or USDT. I cannot remember betting on casinos and sports with ADA though.

It is great information as always ... I really think that there are many players who according to their personality develop their strategies based on the bets of their favorite cryptocurrencies, I know many friends who only bet with BTC, they do not see other cryptocurrencies, all sports bets or even Casino gambling is done in BTC, just as there are other friends who definitely prefer ADA.

ADA is a currency that adapts a lot to the demands of many people, because it is not expensive, it is usually growing, it does not drop much in price, it is maintained and for some players it seems better to have bets winning ADA than fractions of BTC, EHT , LTC.

I personally like to win in BTC, of course bets in other currencies are much better because the balance distributed in it is better managed, especially by ADA, but of course it is my personal perception.

Nope, not all the time bitcoin fees is so high so I'd rather use this when the fees is so cheap. That's why there are options since if certain coins fees soar up we will choose the best alternative added on their casino then use that. It doesn't mean that you choose bitcoin you will stick to it also if you use bitcoin you shouldn't think about volatility since you are in gambling in the first place you should think about 1:1 ratio whatever value occur on that day and continue to play your game. But if you want to hodl then go for it since that's still a best decision.

I agree the USDT version on Binance and Tron chain probably are probably the best to use in esports betting, they are fast cheap and you are not going to lose much when there is fluctuation in the market, Stablecoins are created as a safe haven when there is a bad market condition, that is why smart contract coins have their version of Stable coin, it's a very useful coin for traders and gamblers.

The best crypto to be used is the crypto that is available on the site you are using because not all Sportsbook accept many cryptocurrency. Also, if you look at the USD value of your capital you still have the same amount of expense, though the price may change but I don’t think it will move that much.

I think for sports and e-sports betting, stable coin is preferable because the price can fluctuate sharply in just a day. Except you are a heavy x coin believer, you will have more peace of mind betting with stable coin. The problem is, of course, the fees. But nowadays, we have casinos that accept USDT on Tron/BSC.

People would be always looking for that since this is the main coin which had been used in the past mainly but having several altcoins is also preferable too.The more the better because there are times on which bitcoins fee
is way too high which it is just normal that we do seek of for alternative coin which does have way more lesser fees which this is the time on where altcoins would really be on the used but generally people on this community
will really be preferring bitcoin and other coins is just an option most of the time.

Honestly the better performing a cryptocurrency has done in the last year (i.e. Bitcoin and Ethereum) the more beneficial it would be for you to keep it rather than gamble it and potentially lose your capital. If you want to gamble then you must approach it as the fun time activity it should be, because there are very few avenues for you to successfully return a consistent profit so you will usually just end up feeding the casinos profits. Stick with the altcoins that have the lowest transaction fees and definitely pay attention to any cash-out criteria surrounding that cryptocurrency at whichever website/app you like to use - hidden fees can kill your earnings.

IMO, coin/token with high & fee price comparing other "ALTcoin" with a cheap fee have their own advantage. Example : High roller gambler more often using BTC/ETH even the fee is 10-20$/TX because this coin has more liquidity order than cheap "ALTcoin". If they want to sell instantly, the spread % not really big comparing ALTcoin with cheap price and big gap order.

So. If you Highroller gambler BTC/ETH is best option but if you a small gambler just use other coin.

When you make a deposit to the casino, you are sending crypto currencies. Those transactions incur fees. Some of the coins have very "high" fees. Imagine you want to play with Ether. You make a $20 deposit, but ended up spending $10 on fees. Also, when you withdraw, you don't withdraw those "internal casino tokens" that you are talking about. You withdraw the coins and in most of the case, it's you who have to pay the fees. Hence, speed and fees of the coin matters over here.

Bitcoin had always been what I prefer as a cryptocurrency for online gambling because I was used to it. It's also easier for me converting to fiat in my mind before placing a bet with just basic math.
I haven't tried betting for Esports but I do bet for real sports. Played CS:GO before but I am not updated anymore about Series Winners or other tournaments top teams so it would be a bad decision placing a bet with just a mere guess.
 

For crypto users it is indeed a suitable alternative when gambling. As for fiat users who are often more effective at gambling, they don't really pay much attention to what they are betting on. Both have dominated gambling up to this point. Choosing between betting fiat or crypto depends on one's comfort in gambling. Personally I use both.

as long as a gambler can bet any coin will do. if it werent for the transaction fee, they'd use BTC.  trx comes the first for me because its the cheapest.

but when its started it was litecoin and doge that were the first that casinos considered. with the rise of altcoins and i guess they see profit from altcoins community.

Wouldn't you be regretting using bitcoin for your betting given how high the prices right now that the right thing to do would be to hodl it and wait for the really big rise in prices to happen and hopefully you can get much more value out of it rather than spending it on gambling which doesn't guarantee that you will win it back.

The gamblers will have different favourite coins to gamble, whether sports betting or other gambling games. If they like to use bitcoin, they will still use bitcoin, which happens with the other gamblers. But if the casino does not have their favourite coins, they will search for the coin that will fit what they want, especially in the transaction fee because something that will be a concern for a gambler. Most casinos will have bitcoin, ethereum, litecoin, usdt, doge in their coin list but with the growth of the cryptocurrency, those casinos try to add the other coins such as trx, ada or others so they can attract more people who want to use that coins.

I'd choose bitcoin,Litecoin and will pick some coin which is not in your list and that us XRP since this one is quite reliable also you can also add USDT as suggested by several members since this could give the users who want to bet on stable coin since there are gamblers who doesn't like the volatility of other unstable coins that's why if you plan to add some coins to your plan sportsbook better add these options for more selections.

Just a quick question :

When you deposit whatever coin/token onto a gambling site.. they credit you for that "token" on their internal database. So you do not actually play with the coins that you deposited, but with the credit that are given to you by the casino for the coin you deposited. (It displays it as the token, but it is actually the credit balance on their internal database)

Most casinos then push those deposits onto "cold storage" for safekeeping, but they have a small amount in hot wallets for small withdrawals.. etc... right?

So, getting back to the "in-house" credits that are managed by the online casinos database... does the transaction speed really matter, if you do not actually use the "token" or "coin" .....because in theory, all should be the same.  

The only thing that should matter is the transaction fees and speed... when you have 0 credit on the casino database.. and you want to deposit coins or withdraw a positive balance. (Then you look at fees and transaction speed)  

I'd choose BTC and USDT imo. Litecoin is also a good opinion from what I've heard but I've never really tried it, I've mostly used BTC and ETH in my gambling. Most casinos accept BTC and USDT anyway, and I've never really had the idea of choosing other coins so I can spare myself the fees so when I used to gamble so is why I chose it. Recently whenever I come back to play I mostly use USDT now on casinos that accept them and BTC if they don't accept it. Fees are quite a pain now though now that I take the time to feel them up.

Bitcoin used to be the best coin for betting but now that limits are starting to go up between exchanges and casino i'd have to say the best coin goes to Litecoin. Ethereum used to be a good option for betting but like the others have mentioned fees is slowly becoming an issue. I haven't used Tether and ADA but I remember crypto sportsbook accepts Tether via the eth network so that's a no go and as for ADA the coin isn't popular enough between crypto sportsbooks in other words you'll limit your betting options.

I mean there aren't any differences right? All coins can be used for betting with the same outcome. But if you are talking about transaction speed and fees, then yeah, coins that has very low transaction fee and confirmation time are better. And those who like to bet regularly and are dependent on fiat values, stable coins are the best for them. But like you said, bitcoin is preferred by most even though sometimes the fee can be disappointing. I guess it has to do something with bitcoin being the most popular crypto currency.

Hey Karl. Nowadays there are much cheaper and faster ways to move funds than you suggested. For example, I really like the technical characteristics of Solana blockchain (https://www.coingecko.com/en/coins/solana) but I have not met any online casino with the possibility of making a deposit to SOL.

Any coin that you don't have any regrets spending on like Litecoin can be a used for betting but Bitcoin and Ethereum, they don't seem to be a good idea to be used for betting, now that their prices are going up. Yes it's depending on your preference but sometimes, your pick might not be the best choice for everyone.

It would be an easy answer for bitcoin but these days, those people like me don't own that much. We'll look for any other coin to gamble with at the cheapest that we can. As part of convenience, aside from bitcoin, it's either USDT and any other cheap coin that's being supported by the bookie that I gamble, those that don't have the high fee. Well, Ethereum is taking some issues currently with its fee so for USDT, it's either the other chain through TRC20. But as Ivan says, most bookies today are accepting a lot of cryptos for which you're comfortable to bet with.

I guess the best crypto for any betting is the one you like the most! Now crypto casinos accept many different coins, and it's not a problem to find a casino that accepts your favorite one! So you can use any coin, there's no difference in which one will you use, what's important is to have good picks and winning bets!

Hey everybody,

Esports has turned into a profitable and hugely followed spectator sport since the early 2000s. Owing to the rapid rise of video gaming creators and the impressive growth of the internet, esports opened a vast space of possibilities for the betting sector too.

Other than blockchain gaming and NFTs (non-fungible tokens), fans are also enjoying the profits of esports betting due to various markets available all-year-round. These days, bettors no longer solely rely on credit cards and bank accounts to support their teams and players. Instead, they deposit and bet with their favourite cryptocurrencies. Today, we answer the question: which are the best cryptocurrencies for esports betting?

Crypto is the new era of online betting

iGaming (online gambling) goes perfectly well with crypto. Their shared platform guarantees efficiency, transparency, and security. These qualities make market analysts confident of the paradigm shift in payment options. As cash, credit, and debit cards slowly become obsolete, crypto is the next big thing. As of today, there are around 6,000 different kinds of digital currencies in circulation. So, in terms of trust, popularity, and value, here are the five best digital currencies to use at esports crypto betting sites.

1. Bitcoin (BTC)
While Bitcoin’s one decade of existence is, well, less than a dot in the context of fiat money, it is a major currency revolution. Meaning, it shouldn’t be a surprise that it is the number 1 choice among the 300 million crypto users in the world.

Bettors prefer Bitcoin because it’s well-established, lucrative, and the largest crypto platform by both market cap and coin value. As of August 17, 2021 in CoinMarketCap, they are worth $866.22 billion and $45,910.85, respectively. That is why it continues to dominate all online casinos and sportsbooks. In addition, gambling operators trust Bitcoin because it is a strong peer-to-peer payment system, thus becoming the standard for crypto trading.

2. Ethereum (ETC)
Founded in 2013, Ethereum remains one of the strongest counterparts of Bitcoin. Not only is it the second-largest crypto by market cap, worth $374.16 billion this August 17, 2021 in CoinMarketCap, it is also one powerful and massive digital ecosystem. This is because it wasn’t a digital currency in the first place.

Instead, blockchain innovators developed it as a programmable network intended as a marketplace for financial services, games, and apps. It just so happens that it also holds its own coin called Ether (ETH), which is only a fraction of the many Ethereum-powered tools and services. In fact, if you have been into esports and the world of digital assets in general for quite some time, then you will have heard about NFTs. These digitally unique and valuable tokens are part of the Ethereum blockchain network.

3. Litecoin (LTC)
Litecoin may not immediately follow Bitcoin and Ethereum in terms of market cap ($12.10 billion) or coin value ($180.98) according to CoinMarketCap on August 17, 2021, but it has captured the trust of the masses due to its network design. True to its name, this Bitcoin fork is the lighter version and digital silver to Bitcoin’s digital gold.

Litecoin improved Bitcoin’s high fees and slower rate transactions. As it aimed to empower users to be their own bank and control their transactions, its new blocks on the network are produced every 2.5 minutes. In contrast, that makes it four times faster than Bitcoin’s mining of blocks at 10 minutes.

4. Tether (USDT)
Stablecoins are digital currencies backed by assets (e.g. fiat, crypto, and commodity). They ensure stability and high liquidity in the middle of the capricious crypto market. The most notable example you can trust is Tether. Pegged to the U.S. dollars, it is the most popular fiat-based stablecoin with a predictable value, high market cap ($63.66 billion), and large daily volume based on CoinMarketCap on August 17, 2021.

5. Cardano (ADA)
Similar to the relationship between Litecoin and Bitcoin, the new player Cardano is a blockchain smart contract platform created to fix the drawbacks of Ethereum. Despite its recent entry, it has impressively climbed to be among the top 10 digital currencies based on market cap, which is valued at $67.53 billion on August 17, 2021. Its coin value, worth $2.11, still has a long way to go but market-backed predictions stated that it could rise greatly at a future date.

What brings Cardano to the limelight is its strong competitive edge and firm communal building. Creators take pride in it being the ‘first third-gen virtual currency’, where its purpose is to ‘provide a more balanced and sustainable ecosystem’ for the crypto market.

As a result, it is said to be the only coin and blockchain project that has been thoroughly tested and peer-reviewed by academic scientists and programmers. Most of them are from the University of Edinburgh and the Tokyo Institute of Technology.

Betting and crypto: A match made in heaven

Having the best digital currency isn’t the first and only step to achieve a seamless online betting experience. Similar to how you assess your crypto options, your chance to win a variety of rewards also lies in your choice of esports betting platform.

Esports betting sites may be convenient due to their easy access, but always keep in mind that not everyone offers the same level of safety and security. Take the time to learn as much as possible about esports betting tips. After all, a successful bettor is a responsible one, and with hundreds of choices available today, take note of these top qualities of a trustworthy betting website to get started.


Thanks for reading. Hopefully, you found some useful information.
You are welcome to share your thoughts and let us know what is the best coin for you to bet on esports?

Cheers,
Karl from Bitcasino