Litecoin Betting Sites
Not every US betting site will accept Litecoins. But the most established ones will. Here’s a list of the best Litecoin betting sites.
Betonline fulfills its promise to focus on the player with top-notch customer service. Accepting Litecoin is part of the services they offer to their customers. They charge no fee for Litecoin transactions.
GT Bets is a good sportsbook and promises fast withdrawals and deposits. They are happy to accept your Litecoins.
MyBookie offers expanded welcome bonuses to people making their first deposits with cryptocurrencies, including LTC. They do not charge any Litecoin transaction fees.
BetDSI has super-fast deposits! These should be available as soon as the blockchain processes them. We’re talking minutes here.
Intertops was the first sportsbook to move online in 1996. It’s no wonder they continue their techno-vanguardism by accepting LTC. Check out this trusted industry favorite.
Wild Casino loves cryptocurrencies. They offer huge bonuses on initial deposits made in cryptocurrencies.
XBet is one of the newer sportsbooks and has already gained a huge following in the online betting industry, offering great bonuses on crypto deposits.
BetUS is committed to the crypto movement and offers a range of currencies as payment methods, including Litecoin.
What is Litecoin
Litecoin (LTC) is a vibrant cryptocurrency, even if less known than its older crypto-sibling: Bitcoin. It was an early spin-off and is technologically nearly identical to Bitcoin.
One of the main differences is the Lightning Network. This allows Litecoins to process in 2.5 minutes, rather than Bitcoin’s 10-15 minutes.
Other than that, Litecoin is like Bitcoin. It started in 2011 and is an open-source, anonymous, and cheap way to send and store money.
Benefits of Litecoin
Betting with Litecoin comes with lots of benefits. It’s not a surprise at all that more and more bettors are choosing to play with this altcoin.
Is Litecoin Safe?
Litecoin is a safe and anonymous place to put your dollars. Litecoin is a cryptocurrency and is therefore run by a decentralized, pseudonymous, blockchain system. This means that your identity is safer with this cryptocurrency.
Because it is anonymous, it also a safer way to spend your money, preventing the government or others from following your transactions.
It is important to find a safe exchange to buy and a wallet to store your Litecoins. This will make your Litecoin activities extra, double, super safe.
If you ask if it`s “safe” as in a safe investment, well, that’s a big question that goes beyond my psychic abilities. But in terms of transferring your dollars to use while on Litecoin sports betting sites, it is indeed a safe route.
Speed of Litecoin Deposits and Payouts
Transactions with old-school payment methods like credit cards can take several days. All cryptocurrencies are significantly faster than this. You will typically have your funds in your gambling account within half an hour.
Litecoin is even faster than Bitcoin. If speed is a priority for you, Litecoin is the way to go!
Litecoin and Taxes
Although we are not trained tax experts, we understand that gambling winnings are considered capital gains and are taxed accordingly, no matter the currency.
Because traditional banks and credit cards have to follow Know Your Client (KYC) regulations, they send names and social security numbers to government agencies. This makes it easy for the IRS to know exactly how much you are gambling and how much you are winning.
However, because Litecoin is pseudonymous, and Litecoin is not regulated by KYC, your information is never sent to the IRS.
Reduced Transaction Fees
Transaction fees got you down? Tired of forking over the extra dough with credit card deposits or wire transfers?
Litecoin is for you! Many betting sites do not charge any transaction fees for Litecoin. If they do, they are significantly less than those associated with more traditional payment methods.
How to Earn Litecoins
You can earn Litecoins a lot like you would other currencies: as payment for work or affiliate advertising. The most direct route is going to a cryptocurrency exchange and purchasing them. Simple as that.
But cryptocurrencies also have other, special ways to earn some of this cold hard digital cash.
Mining is a common way to generate Bitcoins. This requires quite a bit of cheap energy and computer know-how. With Litecoins, it’s even slightly more difficult.
Litecoin Faucets are another source of cryptocurrency. These are sites that ask you to complete simple tasks that require human intelligence or to watch advertisements in exchange for very small amounts of Litecoin.
Where to Spend Litecoins
Many Litecoin betting sites and online casinos are happy to accept Litecoins. Because they are cheap, fast, and anonymous, there are plenty of reasons to do your wagering and poker playing with LTC.
Litecoins are not quite as widely accepted as Bitcoins, so be sure to double-check on their website. Be sure not to assume that accepting Bitcoins means that they will also accept Litecoins.
More and more places are opening up to altcoins such as Litecoin. If Litecoins are your crypto of choice, you will definitely be able to find one to accept them.
Litecoin Betting FAQs
1. When was LiteCoin founded?
Like all cryptocurrencies current in operation, they were all started post-2006, with Litecoin emerging onto the scene in 2011. Since it’s inception, the currency has grown at a staggering rate and is now one of the leading cryptocurrency providers.
2. Is LiteCoin safe?
LiteCoin is entirely safe. There are also doubts regarding cryptocurrencies and especially when one of those currencies isn’t Bitcoin (as this is a related name). However, Litecoin is one of the safest providers out there and is backed by a huge community.
3. Can I deposit and then withdraw with Litecoin?
It depends on the sportsbook in question, but it’s common for users that are offered Litecoin as a deposit method to also be offered it as a withdrawal method. Litecoin transactions always occur swiftly and efficiently.
4. Does LiteCoin offer good rates on deposits?
Typically, LiteCoin offers excellent rates on deposits. More often than not, sportsbooks will offer cryptocurrency transactions for free, both as withdrawals and deposits, as they suit both the client and the provider. Litecoin as a payment process is mutually beneficial.
5. Is LiteCoin used worldwide?
Yes. There are 84 million LiteCoins in circulation and not one more. Every 2.5 minutes LiteCoin generates a block, which is a ledger entry of recent transactions through the blockchain.
6. Who owns LiteCoin?
Litecoin was created and is still owned by Charlie Lee, an American MIT graduate. He was born in the Ivory Coast and has since lived in the US studying and now working.
7. Is LiteCoin Legal?
Cryptocurrency legality has always been a topic of contention for governments across the world and there remains a lack of clarity regarding the legality of crypto. However, to date, there have been no arrests in the US related to cryptocurrency usage.
8. How long do LiteCoin transactions take?
LiteCoin transactions, like nearly all other crypto payments, generally occur instantly, but it does depend on a number of factors. The provider in question, day of the week and amount of money being sent are all factors that must be taken into account.
9. Is LiteCoin registered on the stock market?
No. None of the cryptocurrencies in the world are registered on the stock market. The legality of crypto and it’s integration into mainstream finance is still a way off, as such, it’s going to be some time before we see it on the stock market.
10. Is LiteCoin one of the major cryptocurrency providers?
Yes, it is. Aside from Bitcoin and Ethereum and a few other big cryptocurrencies, Litecoin is very much at the top of the pile.