In recent years, the economy has been shifting away from traditional banking methods to various other payment systems offering multiple user benefits. One such system is cryptocurrencies, which has revolutionized the online payments industry with the conception of blockchain technology.
One of the first crypto to reach the mainstream is Litecoin, and thanks to its popularity and reputation, many gambling websites accept it as a payment method.
If Litecoin has caught your attention and you are wondering why so many people are joining Litecoin esports betting sites, you have found the correct article. So keep reading to discover everything there is about Litecoin betting.
What is Litecoin?
Litecoin is one of the first cryptocurrencies to appear, and it remains one of the largest-valued crypto assets in the world.
In 2011, former Google engineer Charlie Lee created Litecoin as a hard fork of Bitcoin, the famous crypto coin. Lee thought that Bitcoin was becoming too easy to control, so he decided to create a version of Bitcoin that had the features that would prevent that. This is why Litecoin was created with higher maximum circulation and bigger block size.
The coin started out small, but as the popularity of Bitcoin rose, so did Litecoin’s. In 2017, when cryptocurrencies became a mainstream sensation, Litecoin benefited from it and reached a market capitalization of almost $20 billion, making it the third biggest crypto at the time.
Even though Litecoin couldn’t avoid being controlled by big mining enterprises, it became very popular as a peer-to-peer payment network and a precious minable coin. Litecoin became one of the first coins traded on Coinbase in 2016, a popular exchange platform and the entry point for many European retail investors.
Since then, it is clear that the coin’s popularity has dwindled, and many other coins have surpassed its value because of their more innovative technologies. However, thanks to its previous popularity, Litecoin is one of the world’s most widely accepted cryptocurrencies, and many esports betting sites accept payments with it.
Which Are The Best Litecoin Esports Betting Sites?
Usually, any esports betting site that accepts cryptocurrencies, in general, will take at least Bitcoin, Ethereum, and Litecoin. Each coin has its own advantages and disadvantages for online gambling, but Litecoin is one of the more consistent picks for esports bettors.
Litecoin transactions are almost always much faster than other cryptocurrencies because of its different block size, and the fees for each transaction are small even during peak times,, Meanwhile, Ethereum “gas” fees can reach up to hundreds when there is a lot of traffic.
Some people are puzzled by the popularity of Litecoin amongst esports bettors, especially since the crypto coin has lost a lot of its value. Still, there is a simple explanation for it.
Cryptocurrencies are a modern form of payment that most young people are using, and those are the ones that are into esports. Since Litecoin is an affordable alternative to FIAT currencies, it makes sense that it has become really popular.
Since there are so many esports bookmakers that accept Litecoin transactions, it might be challenging to find one that can cover your gambling needs. Below you will find our recommendations for the best Litecoin esports betting companies.
Stake
Stake is one of the best crypto betting sites in the world, and Litecoin is one of the eight cryptocurrencies you can use to deposit and withdraw on it. One of the main advantages of Stake is that you don’t have to exchange your crypto for placing bets since Stake also has a crypto wallet that can hold crypto like Litecoin, Bitcoin, Ethereum, USD Tether, and more.
Stake is not only famous for offering crypto payments but also for the variety of esports markets and competitive odds. Betting on Stake is more straightforward than most bookies, making it the perfect choice for newcomers with some crypto to spare.
Duelbits
DuelBits is a Litecoin esports betting site with a solid reputation in the gambling world, and millions of users are trusting it with their money. You can bet on most major esports events on DuelBits, and enjoy live betting with very tempting betting markets. You can always find a live stream of the matches on DuelBits, and also various extra information about the teams competing.
Another shining part of DuelBits is its excellent customer service, which can solve any potential issues that might come up. Betting can be quite stressful, so it is important to know that if some problem comes up, you will be in good hands.
Parimatch
Most bettors are familiar with Parimatch, since it is one of the biggest sports betting platforms in the world, with more than 40 million monthly visitors according to similarweb. Esports betting is one of the main attractions for many players, and the betting features Parimatch offers its customers are second to none.
Parimatch accepts a plethora of payment methods such as bank transfers, credit/debit card (VISA, MasterCard), e-wallets, and cryptocurrencies such as Bitcoin and Litecoin. Most of the methods have no transaction fees, but cryptocurrencies like Litecoin are the best options thanks to their complete anonymity for transactions.
Bet365
On Bet365 you can bet on esports like League of Legends, Counter-Strike: Global Offensive, and Valorant, and enjoy every minute of it, thanks to its impeccable services. The Bet365 website is user-friendly, and it is perfect both for casual betting but also for more dedicated players. Furthermore, the bet builder of the website is excellent and gives you many different options.
Bet365 is the biggest sports betting website in the world, operating in almost 200 countries with millions of users. Thanks to its global presence, Bet365 accepts a lot of different payment methods and, most importantly cryptocurrencies like Litecoin.
Payments with Litecoin are processed instantly, and the deposit and withdrawal limits are some of the highest among all available options.
EGB
If you want to join a betting site that does justice to esports, then EGB is your best choice. You can find betting markets for most major and minor esports events, and the cherry on top is the various exclusive promotions that EGB offers. No matter what esports title you enjoy, EGB will have a special bonus tailored to your betting needs.
After a full day of esports bets, you can play any of the thousands of casino games hosted on the EGB website and take your chances there.
How To Use Litecoin On Esports Betting Sites
In most cases, if you want to use Litecoin on esports betting sites, you need to have this cryptocurrency in an online crypto wallet. Some bookmakers will allow you to buy Litecoin directly from their platform, but that is never a good option since the exchange rate they will give you will probably be far from fair.
One of the biggest advantages of Litecoin is that if you have a wallet (Binance, Metamask, Kucoin) that can hold it, you can also make transactions with it without any problems. In most cases, all you have to do is copy-paste a wallet number or scan a QR code, and your transaction will be executed immediately.
Something short about how esports betting sites accept Litecoin and how our readers can use it, what they need to know etc.
How To Deposit With Esports Betting Sites That Accept Litecoin?
Depositing Litecoin on any reliable esports betting site is very straightforward – In just a few clicks, you can start betting on your favorite esports.
To deposit with esports betting sites that accept Litecoin you need to follow these steps.
- Login to your betting account
- Head to the cashier tab and choose to make a deposit
- Pick Litecoin as your payment method
- Pick the amount you want to deposit
- Scan the QR code with your wallet application or copy and paste the wallet address
- Done
Thanks to Litecoin security protocols, it is almost impossible that anyone can intercept your transaction. If you complete the process correctly, the money will safely arrive in your betting account.
How To Withdraw With Esports Betting Sites That Accept Litecoin?
Withdrawing your funds with Litecoin is one of the safest ways to guarantee that you will receive your money without any problems in your wallet. If you have already completed the “Know Your Customer” process of the Litecoin esports betting site you joined, you can receive the many in just a couple of minutes.
To withdraw from esports betting sites that accept Litecoin you have to do the following.
- Access your account
- Go to the payment section and pick Litecoin as your payment option
- Type your desired withdrawal amount
- Copy-paste your Litecoin address
- Done
Be aware that some Litecoin esports betting websites will allow you to make deposits with Litecoin but not withdrawals, and you might be forced to use your bank account, which takes additional time.
Online Betting With Litecoin: Pros and Cons
Litecoin is part of the cryptocurrency family, but there are a lot of differences between the various coins, and each has its own advantages and disadvantages. Litecoin, in particular, has many advantages, but some rough edges still make many people think twice before they start Litecoin betting.
Litecoin is a cryptocurrency, and like most other crypto, it is prone to market fluctuations which can be both positive and negative. If the market is high and you are expecting everything to crash (as it usually happens), it is a great time to cash out your Litecoin and spend it on something you really enjoy.
The safety that blockchain technology can guarantee to its users is considered one of the best possible, and Litecoin is not an exception. It is almost impossible for third parties to mess with your transactions and get information about you. Unlike credit and debit cards, when you are paying with Litecoin, your wallet address can only be used by you.
Litecoin is not as valuable as other cryptocurrencies, and in the case of betting, it is an advantage since you can feel freer to spend your coins without wondering how high their value might go. It is not great news for Litecoin traders, but it makes it easier to use regularly.
Advantages Of Using Esports Betting Sites With Litecoin
Litecoin betting is a great option for anyone that already owns this coin and an even better entry point for the world of cryptocurrencies.
The advantages of using esports betting sites with Litecoin are the following.
- Easy to make deposits and withdrawals
- Fast and safe transactions
- Anonymity when making payments
Disadvantages Of Using Esports Betting Sites With Litecoin
Litecoin is not without its flaws, and when you decide to join a sports betting website that accepts it, you need to be aware of the problems this payment method has.
Some of the disadvantages of using esports betting sites with Litecoin are listed below.
- Fluctuating price
- Irreversible transactions
- Some esports betting websites don’t accept Litecoin withdrawals
The Future Of Litecoin Gambling Sites
Even though Litecoin is not the hottest crypto coin in the world right now, it remains one of the most popular ones, and many people are using it to complete transactions with big penetration in the esports betting industry.
Regardless of the price that Litecoin might have tomorrow, gamblers know that they can depend on Litecoin to provide anonymous payments with the lowest possible fees. Since the fee you have to pay for Litecoin transactions is not proportional to the amount, Litecoin will remain the favorite payment option for big bettors.
On the other hand, though, since Litecoin is losing popularity, it becomes less likely for gamblers to casually have Litecoin in their wallet. Even though it offers numerous benefits to gamblers, a lot of other cryptocurrencies can offer what Litecoin does and, in some cases, even improve on it. For example, USDT can do the same without the unpredictable price fluctuations of Litecoin.
In short, Litecoin is definitely sticking around as a reliable payment option, but a lot of modern coins will slowly chip away at the Litecoin user base. Nevertheless, Litecoin betting sites will continue to flourish for the foreseeable future.
Conclusion
Litecoin is one of the most popular cryptocurrencies for making payments on various esports betting websites, and it appears that it will remain like that for quite some time. Thanks to Litecoin’s impeccable security features and low fees, millions of users are choosing it as their primary method to fund their betting wallets.
With the click of a few buttons, you can top up your betting account and join the fun. If you already own Litecoin, then you are ready to go; if not, you shouldn’t lose any more time and get a piece of the action.
FAQ
Are Litecoin esports betting websites legal?
Yes, Litecoin esports betting websites are legal, and you can safely deposit your money and gamble on any esports you want. Be careful, though, if you find an online betting site that only accepts cryptocurrencies, you need to make sure it is a legitimate gambling platform since only crypto payments are a bit suspicious. Look for its gambling license and what other users are saying about it.
Can I bet anonymously with Litecoin?
Yes, you can bet anonymously with Litecoin, although this is possible until a certain point. When it’s time for you to make a withdrawal, no matter which payment method you choose, any legitimate Litecoin esports betting sites will request you to complete the KYC procedure. This doesn’t mean that your bank will become aware that you are gambling, but still, it is not completely anonymous.
How long do Litecoin withdrawals take?
Litecoin withdrawals can be instant, but they can also take up to 3 working days. The processing time is due to the sportsbook trying to verify your identity and make sure that the money you are trying to withdraw is legitimate. When this is done, the transaction will be executed instantly.
How long do LTC deposits take?
LTC deposits are always instant, and there is no fee charged for the transaction. Litecoin esports betting sites will not ask many questions when you are trying to make a deposit since they all want you to add money to your account and start gambling. The same cannot be said for withdrawals, though, since there is a pretty strict verification procedure that needs to happen before you get your money.
