With the rapid rise of popularity in regards to betting with cryptocurrencies, like Bitcoin, there have been other coins to hit the market, such as Litecoin.
While many new coins have failed, Litecoin has been successful, especially as of late, but its rise in popularity cannot be compared to Bitcoin at this point in time. Still, this coin took off in value in 2017 to the point where online betting sites began to accept this form of crypto for deposit.
Litecoin has actually been around since 2013, but its true rise didn’t come until winter of 2017 when it reached roughly $55 per Litecoin.
While Litecoin can be used to bet on sports, you can also bet with Litecoin with poker and other casino games when it comes to online betting sites.
Of course, Bitcoin is still the top dog when it comes to betting with cryptocurrencies, however, Litecoin is also a solid option should you look to differentiate your holdings.
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Best Litecoin Betting Sites
While there are specific benefits to betting with Bitcoin online, betting with Litecoin also offers much of the same advantageous benefits when using it to bet online.
It is advantageous for the betting sites themselves to accept cryptocurrencies such as Litecoin for deposit as it saves them money in terms of processing costs, some of whom pass on the benefits to the user.
Most of the Litecoin betting sites offer a wide range of betting opportunities such as betting on the NFL, NBA, MLB, NHL, golf, NASCAR and more. Some also offer welcome bonuses and some offer football-specific bonuses as well. As is the case with mostly all cryptocurrencies, the recommended betting sites now have timely payouts that eliminate a great deal of the frustration involved with receiving your profits from an online betting site.
In terms of the recommended sites below, we recommend visiting all of them and see what they have to offer. Site structure, competitiveness of odds, welcome bonuses and maximum bets are examples of things that may attract you to one, or more, betting sites compared to others. At the end of the day, you need to roll with what site you feel most comfortable with and the one that works best for you and your betting needs.
Feel free to check out each and every one of the recommended sites and select which site works best!
Pros and Cons
Like Bitcoin and other cryptos, there are both pros and cons to using this form of currency when depositing on online betting sites. Some of these are similar to other cryptos, and some are specific to Litecoin itself.
Litecoin is free to deposit and withdraw on most betting sites where it is accepted for deposit. Over time, these savings can really add up. If you are continually withdrawing using traditional methods such as a cheque, bank wire or money transfer, the continuous fees just simply eat away at your bottom line. Although it may not seem like it at the time, the constant fees with traditional cashier methods is just a profit-eater at the end of the day.
Another benefit to betting with Litecoin is the speed in which you can deposit and withdraw. Along with no fees, this is a win-win. Deposits to online betting sites can take anywhere from a few minutes to a few hours, same with withdrawals, while traditional methods could take much longer, especially on withdrawals. Cheques and bank wires can take up to 1-2 weeks with traditional methods, but when betting with Litecoin, the processing speeds and efficiency simply dwarf these older methods.
A common mistake made in the crypto space is that it is 100% anonymous, which it is not. However, when you aren’t providing sensitive bank account or credit card information to online betting sites, you are protecting yourself from fraud and identity theft. Betting with Litecoin can give you increased peace of mind, knowing that your most personal and private information is not out there for the world to see.
This is one that is more specific to Litecoin than it is to, say, Bitcoin. Bitcoin’s price has been rather volatile over the last little while, but aside from the large rally in 2017, Litecoin’s price has been fairly stable. If price volatility is something that you are uncomfortable with handling on a day-to-day basis, then betting with Litecoin can be very advantageous to you as opposed to betting with other cryptocurrencies.
If you are able to make a profit when betting with Bitcoin, a drop in the value of Bitcoin itself reduces your profit. When betting with Litecoin, this isn’t as much of a concern and your profits are better protected due to the stable value of Litecoin itself.
As mentioned, Bitcoin is the top dog in the race right now with online cryptocurrency betting, and some sites even look to attract business by offering Bitcoin-specific bonuses upon first depositors. Litecoin isn’t quite there yet, but it may not be long. Its rise in value and popularity should have it on an upward trajectory in this area.
While their rise in popularity has been interesting to watch, the fact is that many are still unfamiliar with cryptocurrencies and how they operate. This is especially true when it comes to any crypto not named Bitcoin, such as Litecoin.
The important thing to do here is research Litecoin and make sure you know what you are getting into when betting with Litecoin. Familiarity can greatly reduce stress, especially when using it for betting means, so be sure to do your homework and gain that peace of mind!
Why Bet With Litecoin?
While we’ve listed the pros and cons of betting with Litecoin above, let’s just flat-out answer the question: Why Bet with Litecoin?
As mentioned, the cost and speed when depositing and withdrawing using Litecoin is a win-win, so we will just call it efficient. It’s a much more efficient way to do business than using traditional methods and is the biggest single (or joint) reason why betting with Litecoin is advantageous.
The rise in popularity in betting with cryptocurrencies is the new and the traditional methods is the old. We can’t say for sure where the industry will be in say, 10 to 20 years, but it’s clearly moving towards these cryptocurrencies, especially due to the little to no fees involved. You aren’t necessarily going to be left behind when using traditional methods, but the industry is leaning away from these traditional methods as cryptos continue to gain popularity. There are simply too many pros for both the betting site and the end user.