It is no secret that cryptos have been making waves in the online gaming sector. Many gambling sites have been launched that accept primarily or only cryptocurrency and this is in response to a growing demand from consumers. There has also been no shortage in terms of variety of games.
We’ve seen the traditional options like poker and blackjack, but crash gambling has become a top pick as well at a number of crypto casinos on a list for November 2023. But even as consumers enjoy all of these games, some cryptos have proven to be their go-tos to play them.
To no one’s surprise, Bitcoin has emerged as one of the top crypto options for gambling. The world’s most famous token has seen a hint of a market recovery over the last few months and this has made players even more confident to gamble with it. In fact, Bitcoin has become so popular for online gaming in 2023 that there are entire sites that only accept Bitcoin.
Besides its market potential, Bitcoin is also fairly cheap in terms of transaction fees, is very easily accessible within the market, and has a solid community of supporters behind it.
Ethereum is the second-biggest crypto in the world, behind Bitcoin, and has also proven to be a fan favourite for online gambling. Like Bitcoin, it has seen some price recovery, which has encouraged its use among consumers. It is also notorious for its low gas fees, especially if users are willing to wait longer for transfers to be completed.
Ethereum has also become more favoured among the environmentally conscious since it switched to a proof-of-stake protocol, cutting its energy use by over 95%. With this popularity, many online casinos accept Ethereum for betting and this shows no signs of stopping.
Dogecoin has risen from obscurity in the crypto sector to becoming known worldwide after its runaway success in 2021. Based on an internet meme, Dogecoin cultivated a loyal fan base of users who love the Shiba Inu meme and believe in its vision. But Dogecoin is not just a meme token; it has proven itself to have a lot of use cases, one of which is in the online gambling space. It is not unusual to see gambling sites accept Dogecoin for their services and as it earns more respect as a legitimate currency, Dogecoin continues to dominate the scene.
Born from a hard fork of the original Bitcoin protocol, Bitcoin Cash is a cryptocurrency whose blockchain has a larger block size. This means that transactions can be completed faster and with lower fees attached. Unsurprisingly, Bitcoin Cash has since become widely used on online gaming sites.
Some Bitcoin lovers favour the original token and some prefer Bitcoin Cash so most casinos try to favour both to attract both crowds. While Bitcoin Cash is not as financially successful or as widely used as the original Bitcoin, it nevertheless saw a lot of success in 2023. And as the market comes out of winter, this success should continue.
XRP is a product of Ripple Labs and has found its niche in facilitating cross-border transactions. XRP has been used to move large amounts of money from one country to another in mere seconds and with very low transaction fees. As such, the token has slowly been finding its way into the online gambling scene and is especially favoured by players who want to save on transaction costs.
Ripple Labs saw a major win in 2023 when it won a court case against the SEC and this has reflected positively on its token’s market price and its use in online gaming.
Tether (USDT) is one of the biggest stablecoins in the crypto industry and unsurprisingly, was one of the top cryptos for online gambling in 2023. For many players, stablecoins (which are pegged to a non-crypto asset) are a safer option because their values tend to be more stable. In the case of Tether, it is pegged to the US Dollar and this has boosted consumers’ confidence in using it.
Being able to enjoy the benefits of crypto while avoiding some of its market volatility has proven to be a winning combination for Tether.
Another top gambling token for 2023 was Litecoin and this can mostly be put down to the fact that Litecoin can complete transactions very quickly and with low fees. For the players who want to save on transaction costs and for the casinos that want to accommodate this demand (and save fees on their own end), this was a match made in heaven. It is not unusual to see Litecoin listed among the cryptos that online casinos accept and as the industry grows, so will Litecoin.