The Top Litecoin Gambling Sites of 2018

The cryptocurrency market has exploded since the introduction of Bitcoin in 2009. Regardless of how nefarious the reasons were for originally creating fully anonymous, decentralized currency for payments, the bottom line is that these days, people are looking for a way to protect their money and their personal information.

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Litecoin (LTC is the trading symbol) was one of the cryptocurrencies that quickly followed the success of Bitcoin into the market, and today it can be found as a payment option at many online poker, casino, and sports betting sites.

We know that you have probably read loads of news pieces about cryptocurrency, and a lot of it can seem very confusing. We want you to have all the information you need to make an informed decision about using Litecoin.

At GamblingSites.org, we have an entire review section where our team rates and recommends all types of gambling sites based on a variety of criteria. One of these criteria is the payment options available at a site. We want you to have as many choices of great sites to play with as possible, especially if you are planning to use LTC. If you don't want to try one of the sites we recommended above, then just head to our other reviews, and you will quickly find some more available options.

What Is Litecoin Anyway?

As we mentioned, the emergence of Bitcoin as a potentially viable currency in decentralized format quickly spawned other platforms and currencies. Litecoin was launched in 2011 on Github by a Google employee, Charles Lee. The open-source platform and cryptocurrency were modeled on Bitcoin. In fact, it was about as close to a copy as you could find. The currency works upon the same premise - all the transactions are stored on a common ledger, which is secured by a series of mathematical equations that are constantly being coded and decoded on individual machines around the world.

As a fork from the original core chain of Bitcoin, the main difference between Litecoin and Bitcoin was the size and speed of block generation. This makes all the transactions faster, which was an early knock on Bitcoin after it started to grow in popularity. The Litecoin model aimed to generate new blocks in 1/4 the time of Bitcoin. If you want to read more on the math behind LTC, you can head to their site here.

From a gambling perspective, the two currencies work the same. If you can find a site that offers LTC as a payment option, then you can use yours to both deposit and withdraw from the site you choose.

How to Buy Litecoin and Use It at a Gaming Site

The steps to acquiring and using LTC for gambling are much simpler than ever before. This handy step-by-step guide will get you on your way with ease, and that gives you more time to play your favorite games.

  1. Open a Litecoin wallet
  2. Validate your personal information
  3. Buy LTC
  4. Find sites that accept LTC as payment
  5. Connect your gaming wallet with your crypto wallet
  6. Play your favorite games!
Open a Litecoin Wallet

Technically, the wallet you use to buy and pay with Litecoin is the same wallet you would use to buy other cryptocurrencies. If you already have a wallet set up, then you can skip to the 3rd step in this process. For those of you who are starting from scratch, then you want to find a wallet that is commonly being used in the industry, such as any of the following:

  • Coinbase
  • Jaxx
  • Stash
  • Bittrex
  • Mobi
  • Coinomi
  • Webmoney
Validate Your Personal Information

This is a very important step because once you have everything validated, including your banking information, you will be entering a world where everything is anonymous. This is excellent for people who both want to protect their personal information and also to hide the gaming transactions they are performing.

Buy Some LTC

When your wallet is set up and ready to fund, buying LTC is actually quite simple. All you have to do is search for the currency within the wallet, which is set up almost like a stock exchange. LTC will appear, along with the current price of each coin. You should remember that Litecoin is traded on these exchanges, so the value of the coin is constantly changing. You can choose the amount of LTC you wish to purchase, and then with a couple of clicks, you will see the balance in your wallet. Depending on which funding method you choose, you may be limited in the amount of coin you can buy in one transaction or on a daily basis, but this shouldn't stop you from getting enough to head to a casino.

Pick a Site That Accepts LTC

We have already provided you with a great list of possibilities for gambling sites that accept LTC, but if you are someone who prefers to do their own research, we can give you the tools you need to find the right site. Our reviews all focus on a set of criteria, and you can read all about our methodology here.

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Armed with this knowledge, you can look for sites on your own, and if you need any help, our site is always here to provide insight and recommendations.

Connect Your Gaming Account with Your LTC Wallet

This may sound difficult, but it really only takes a few clicks. In the cashier section of the gambling site will be a link for LTC payments, which will take you to a page for entering your wallet information. This unique ID will confirm your LTC balance and then facilitate the transfer of funds to the site you have chosen.

Pros and ConsUsing LTC for Gambling

There are many players who may think that having to take all the above steps just to use LTC for gambling when they could just use credit or debit cards is too much effort. Well, while this indeed a slightly longer process, there are some advantages to doing so. Let's look at some of the good and bad aspects of using LTC.

Bonuses

It is much cheaper for gaming sites to use cryptocurrency for payments, so they can pass along the savings to you in the form of more aggressive bonuses. Some sites offer bonuses up to double the standard for those who choose to use LTC for their deposits.

Security

It goes without saying that if you are using an anonymous, decentralized form of payment, there is very little chance of having those details compromised. Aside from the privacy angle, the confidence in knowing your banking information can't be stolen is enough to move players to Litecoin.

Withdrawal Speed

With no banks, mail, or couriers involved, LTC transactions are only limited to the speed of the network to process. This means you can get your money within minutes using LTC versus having to wait for up to 10 days for traditional payments.

Lower Fees

While most sites don't charge you for your withdrawals anymore, some still do. These sites are likely going to charge you less for using LTC for payouts than if you request a wire or a check.

Trading Risk

These currencies are on a roller coaster when it comes to their value. It is still a new business model, and until there is more volume, the highs and lows of LTC value can cause owners a lot of stress. Keep an eye on the value of your coin so that you don't have a panic attack when you go to sell some.

Site Licensing

The first set of gambling sites that used LTC and other crypto for payments were the ones having the hardest time getting traditional forms of payments approved. Many of these sites run without proper gaming licensing, so you really want to pay attention to our reviews and recommendations to find sites that we trust.

Exchanging to Playing Currency

Most sites don't allow you to play in LTC, forcing you to "transfer" to USD or Euro in order to sit at a table. Each transfer is based on an exchange rate which may shave a few points off here and there. If you want to avoid this, then you should be on the hunt for a site that allows for play in LTC.

Litecoin Gambling Sites

The online gambling industry was one of the first to widely accept cryptocurrency as a form of payment. As a result, there are many different sites to choose from if you want to use LTC. We have dedicated some pages on our site to these different types of Litecoin betting sites

LTC Sports Betting Sites

If you are looking to make a bet on your favorite team or have picked up a great tip for a horse that you simply have to jump on, Litecoin sportsbooks give you an opportunity to put your LTC to action. We'll tell you all about the best sites for betting sports that accept LTC, as well as what to avoid as a sports bettor in general.

LTC Poker Sites

The online poker market may have matured, but that doesn't mean it is slowing down in popularity! While there are fewer sites to choose from, you still need to consider what an LTC poker site offers you regarding liquidity and game selection. Our guide will show which ones are the best for all types.

LTC Casino Sites

If you can find the right combination of game content, bonuses, and loyalty programs, then you are in great shape when playing an online casino. Take advantage of aggressive offers by using your LTC to make deposits, and you will further enhance your chances of being a winning player at a site. We'll review the best bonuses as well as what you should be looking for in the way of software providers.

LTC Esports Sites

Esports is sweeping the globe as the next big sport for gambling. These virtual worlds are transformed into gaming battles, and betting on the best professional esports teams in the world has become big business for online sites. These events tend to draw a much younger audience than traditional sports, and this younger player is more likely to be someone willing to use LTC and other crypto to pay for their bets.

The Future of Litecoin Gambling Sites

Litecoin has been around for over 5 years, and given the growth of the cryptocurrency market as a whole, it seems only fitting that the people behind Bitcoin and Litecoin should benefit from it. Having been around for years has given the LTC brain trust a chance to modify their platform, improving it where possible. There will be more LTC gambling sites coming, including those that exclusively use the coin for payments. Keep an eye on this page and website for updated information on the future of the industry.

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