Cryptocurrency and gambling are a match made in heaven. Crypto gambling is gaining traction, and that's all because of the distributed, digital nature of cryptocurrency. The technology is solving the many challenges that have engulfed the gambling industry for many years.
After prolonged hours of coding, crypto developers have rewarded gamblers with amazing platforms to participate in crypto betting, poker, and online tournaments.
The following is a list of the best platforms in the crypto gambling industry where you can achieve your gambling goals effortlessly while leveraging the perks of cryptocurrencies.
Criteria for Effective Crypto Gambling Platforms
When choosing the best crypto-based platform to stake on, consider the following areas;
- Fast processing of transactions - Being a decentralized technology, cryptocurrency allows users to directly send their stake from their wallets to their gambling platform in a quicker manner. This is also true for the withdrawal process. Best sites automate these processes for instant transaction processing.
- Anonymity – One of the major drivers to the high adoption of crypto gambling is the ability to bet anonymously. The level of anonymity a betting site offers is a must consider when choosing the best platform.
- Multiple coins supported – Today, there are more than 5500 cryptocurrencies, according to CoinMarketCap. The more of these coins, a crypto gambling platform supports the more flexibility it offers and the better the experience.
- Rewards and Bonuses – Most players gamble to get profits, fun is secondary. A good crypto gambling platform gives rewards and bonuses to its users.
Best Crypto Gambling platforms in 2020
We have so far seen what crypto gambling is and the potential it brings to the industry. Looked at the features that make an effective crypto gambling platform. And now, these are the best crypto gambling platforms in 2020.
Altbet is the first project in the gambling industry to leverage blockchain and cryptocurrency in a mutual betting domain. The platform covers several domains, including gambling, sports betting, market betting, and event betting.
In addition, Altbet offers a range of Casino games that encompasses Poker Texas Hold’em, Dice, Penalty, CoinFlip, Roulette, Lotto, Slots, and Crash. The platform has its own native coin (ABET), which is used as the site's main asset.
Pros of Altbet
- Faster deposits and withdrawals: Altbets decentralized peer-to-peer protocol enables fast transfer of funds to and from user's wallets.
- Fewer details required– Unlike other online gambling platforms, the Altbet registration process is an easy one, which requires less personal details. This plus the fact that there is no central entity involved makes users play under top privacy.
- Security - Altbet platform uses cryptographic algorithms for its games and bets with Provably Fair SHA-256 3 hash mechanism.
- All in one platform – Unlike traditional gambling, Altbet offers games, bets, and other functionalities in one place, which is easily accessible by all users from their devices.
Launched in 2014, FortuneJack is the first crypto gambling platform by the Nexus Group Enterprises Casinos.
The platform supports live dealer games, casino games, and sports betting. Besides improved security and great user experience, fortune jack is well known in the crypto gambling scene for its support for multiple cryptocurrencies.
- Great user support - The 24/7 support makes FortuneJack a preference for many.
- Accepts multiple coins - BTC, LTC, BCH, ETH, and others
- Fast processing speeds – FortuneJack eliminates intermediaries to make the deposit and withdraw processes fast
- Large selection of games - including Dice, Blackjack, Roulette, Poker, Video Slots.
Cloudbet joined the gambling industry in 2015. It allows users to place bets on live sports using cryptocurrencies. Currently, Cloudbet offers betting platforms for Champions League, UFC, NBA, NHL, NFL, and other major tournaments.
- Exceptional user experience – players have a great experience betting on live sports on Cloudbet using cryptocurrencies
- Support for multiple games – Cloudbet allows bets on all major leagues including champions leagues and NBA
- Bonuses – The platform gives many offers to players such as a 100% bonus up to 5 BTC on player's first deposit
- Enhanced security – Cloudbet offers secure cloud storage for all crypto deposits and keeps a hot wallet to fasten the processing of withdrawals.
Betchain has been around the gambling scene since 2013. The platform operates under an AntillePhone N.V. Gaming License and uses modern technology to give users a range of online games to place their stake. Currently, BetChain supports slot games, poker, baccarat, craps, and roulette. Other strong points of BetChain Include:
- Support multiple cryptocurrencies – Among the cryptocurrencies supported by Betchain are stablecoin, Litecoin, Bitcoin and Dogecoin
- Fast withdraws – BetChain allows direct user withdrawals to debit and credit cards. The platform supports Mastercard, Qiwi, Visa, and Skrill
- Bonuses – The platform provides a 100% welcome bonus up to 1BTC. For fiat deposit, this is 200 EUR
Unlike other millennial industries that have become obsolete with time, the gambling industry seems to be gaining more attention across the world. The growth of the gambling industry can be attributed to the industry's innovators being alert and acting fast to integrate great technologies for improved efficiency.
Integrating cryptocurrency into gambling systems is the latest move by these blockchain enthusiasts, and company owners cannot wait. Today, a lot of crypto-based online gambling sites exist, and choosing the best isn't a simple task like it used to be a few years ago. In the above paragraphs, we have introduced the best crypto-based gambling platforms based on established criteria to help you kickstart your betting career.