Litecoin Gambling Sites
One of the recent booms in the online gambling industry is the utilization of cryptocurrencies. Not only are sites adding cryptos like Litecoin to their deposit and withdrawal options, but there are also sites popping up solely using cryptocurrencies for all of their banking needs.
If you’re a Litecoin holder and looking for an online gambling site that will let you use your coins to deposit and withdraw, we’ve got you covered.
In the list below, you’re going to see some of the top Litecoin gambling sites offering casino action of all different stake levels.
We’d like to take a minute and proactively tell you why we chose these Litecoin gambling sites to be on our top recommended list.
It’s not because they paid us to be on the list or because we know someone who works there.
The only way for a site to make our top Litecoin gambling site list is by delivering the best casino product possible.
If you’d like to see more specifics about the criteria we look at, what we guarantee with our reviews, and what we refuse to do, check out our How We Rank page now for all of that information.
Is Litecoin the best option to use to deposit online?
Drumroll please…the answer is….it depends. Ahh, don’t you hate it when you get an ambiguous answer like this?
Well, while this may seem ambiguous, it’s for good reason, and we’re going to break it down for you now so that you have a clear answer to the question.
But, in this guide, we are going to help you get to the bottom of it.
So, who is Litecoin a great deposit option for? Well, if you’re someone who understands cryptocurrencies well, is okay with the associated risks of using them, and you already or own or have means to purchase Litecoin, then it might be a great fit for you!
If you’re brand new to crypto, don’t like a lot of risk, and don’t fully understand how it works, you might be better off choosing a different online gambling site deposit option.
If you’re still on the fence about whether or not to use a Litecoin gambling site, make sure you read our tips section below.
We’re going to go into a little bit about how Litecoin works with the online gambling industry and some things you can do to make the experience much more enjoyable and fit your needs better.
Tips for Using a Litecoin Betting Site
As we alluded to at the end of the last section, there is a lot that you need to consider if you’re looking at a Litecoin gambling site.
While many of you are going to think they are awesome, some of you might still be on the fence or be confused about what you’re getting into.
We commend you for taking the time to do some research before jumping in.
In the next few sections, we’re going to give you some tips and explanations that should help clear a lot of this up for you.
Please take a few minutes and read through what we’ve prepared for you as it will ensure that you make the right decision and proceed properly.
Ensure You Understand How Litecoin Works First
The number one tip that we always give for any cryptocurrency gambling site is to make sure that you fully understand the crypto that you are using.
We don’t want to sound like some silly “old boys club” or something like that, but if you don’t understand how Litecoin works, you should stick to using a different deposit method to fund your online casino account.
Understand It’s a Volatile Currency
While all currencies are technically always changing in value, Litecoin and other cryptos can change in value considerably in a short period of time.
This means that the size of your bankroll and the amount you’re wagering on each bet could be changing as the value of Litecoin goes up or down.
For example, let’s say you make a deposit when Litecoin is $30 a coin, and you start betting 1 Litecoin a hand on blackjack.
You’re effectively betting about $30 a hand. But, let’s say the value of Litecoin doubles to $60, and you continue to bet 1 Litecoin per hand.
You’re now betting $60 a hand which might not be ideal for you.
If the gambling site converts your money into USD or another currency upon deposit (and has other withdrawal methods which we will cover shortly), then you can stay on top of this, and you’re only going to deal with the volatility if you withdraw back into Litecoin.
But, if you are using a site that only uses Litecoin as a banking option, then you’re going to be subject to this volatility.
Is this a bad thing? Well, it all depends on what you think is going to happen with Litecoin.
If you think it’s going to remain fairly stable or rise in value, then the volatility is a good thing for you as long as you keep track of the amount you are betting.
If you think Litecoin might take a dive, it could be something that you should be worried about.
Again, this all goes back to fully understanding how cryptocurrencies and Litecoin work before getting involved with a Litecoin betting site.
Only Litecoin or Multiple Banking Options
There is a fairly big difference between using a Litecoin only gambling site and a traditional gambling site that offers Litecoin deposits and withdrawals.
It has a lot to do with the volatility that we just spoke of and the mitigation or acceptance of that volatility. Here’s what we mean.
If you use a Litecoin only gambling site, everything you do is done in Litecoins.
Your bet sizes are done in Litecoins, your bonuses are paid in Litecoins, and you’ll never see your money converted into another currency.
When this happens, you are completely subject to all of the volatility of Litecoin.
This means that if Litecoin goes up while your money is on the site, you’re getting the rewards of that.
It also means if Litecoin goes down while your money is in the gambling site, you have to deal with that as well.
Now, if you use a traditional gambling site that just offers Litecoin as a banking option, it’s considerably different.
When you deposit your money, your funds are converted into whatever your local currency is (USD, Euros, GBP, etc.).
It is converted at whatever the current Litecoin rate is that the site is using. Your money is not just converted to make things easier for you to understand with bet sizes, but it is actually converted.
This means that if Litecoin goes up or down, you are insulated from those changes. If it goes way up, you don’t get to reap the rewards, but if it goes way down, you are not subject to those losses.
When you go to withdraw, you can do that through any of their withdrawal methods, or you can pull your money off through Litecoin again.
You will get your money converted to Litecoin as if you were purchasing it at the current rate.
This method keeps you fully insulated from the volatility of the coin, but you don’t get to take advantage of any of the growth if it occurs.
Which of these two is better? It’s totally up to you! If you think Litecoin is going to grow, stick with a Litecoin only gambling site.
If you don’t know or don’t care and don’t want to be gambling while you’re gambling, use a traditional gambling site and then decide how you want to cash out when the time comes.
We’ve linked both options in the recommended top Litecoin betting sites above for you.
Take Advantage of Deposit Bonuses
The last thing that we want to point out is that you should definitely look to take advantage of deposit bonuses when using a Litecoin gambling site.
Some of the sites we’ve listed above have deposit bonuses regardless of what deposit method you use.
But, some sites give extra deposit bonuses to those people using Litecoin or other forms of cryptocurrency.
Why? Well, Litecoin and other cryptos are much cheaper for gambling sites to work with.
Keep in mind that there will almost always be some form of playthrough requirement so make sure you read up on that before you opt-in to use the deposit bonus.
Get Started Now!
To get started with a Litecoin gambling site now, you don’t have much to do (as long as you already own some Litecoin).
If you don’t already own Litecoin, you will need to go and purchase some before you can utilize this deposit method.
If you don’t want to do that, though, most of these sites will still work with other deposit methods.
For those that have Litecoin already, all you have to do is open an account at one of the sites we recommended above, click to the deposits page, and select the Litecoin option.
Fill in the necessary information and your deposit should be instant! It’s that simple, and you can get started playing right now.