Stemming from the creation of Bitcoin, Litecoin (LTC) is a very similar international person to person cryptocurrency that came about in October 2011, a couple years after Bitcoin. What makes Litecoin an improved upon version is the Litecoin Network tries to process what is called a “block” approximately every 2 and a half minutes compared to 10 by Bitcoin. This is meant to yield a faster transaction confirmation.
Like Bitcoin, Litecoin has also made its way into the world of online sports betting as a convenient deposit and withdrawal method. Even though Bitcoin seems to be a more common acceptable money transacting method for online gaming, because the Litecoin Network expects to produce about 4x the amount of currency units as the Bitcoin Network or Ethereum, Litecoin is still a viable option to use online.
There are not a ton of places that take Litecoin so you have to dig a little deeper to see who does. Searching for Litecoin mainly elicits a long list of sources of who accepts Bitcoin since they are the ringleader of cryptocurrency. There is also some inaccurate information online that say certain sites accept certain methods but when you get to the site you see they do not.
Your best bet is to always go directly to the site itself. Some sites allow you to click on the cashier and see all the deposit and withdrawal options but others are less convenient. In some cases, you even have to create an account. If there are no cashier buttons to click on scroll down to the bottom of the homepage. Left to right you may see the logos of every company they accept deposits from. If Litecoin’s is there it will be offered for deposit and withdrawal.
There doesn’t seem to be a pattern as to where you would find Litecoin. Only some major sites have it as do some of the lesser ones. Here are some places you can use Litecoin:
1) Betcoin.ag offers one of the largest and safest sportsbooks in addition to a poker room, casino, and live casino. The sportsbook has all the major American sports and also has different divisions of rugby, eSports, cycling, and even a specials section in case you want to bet on things who will be the next Pope. For sports like baseball the betting options are for baseball played around the world, not exclusively Major League Baseball. Nothing was shown for props or futures but live betting is available if you like to bet on games already in progress. There are some deposit bonuses available but none of them specify anything extra special for Litecoin users, only Bitcoin. As of August, 2017 this is usually going to be the case.
2) Betonline.ag, has a large sportsbook that also accepts Bitcoin. In addition to all the major American sports you would see on TV, some of the lesser talked about sports in America and other countries are also available for action like darts, snooker, rugby, cricket, eSports, lacrosse, pool, and even futsal. Futsal is a variation of soccer played only as 5 on 5 on a smaller field and usually indoors. You can bet on props, futures, and live betting as well.
There is also a poker room, casino, live casino, racebook, and a section to bet on financials. The deposit bonuses are extra enticing for Bitcoin but not so for Litecoin. Anywhere you find Litecoin you will also find Bitcoin since Litecoin these days is like Bitcoin’s sidekick. Since right now Bitcoin is the most preferred deposit and withdrawal method for many gambling sites, that method will be incentivized the most.
Note that Betonline.com strangely appears to be a different website but it is not. The sportsbook is laid out the same way but you cannot see any promotions offered unless you are at Betonline.ag. Talking with customer support over live chat they explained that despite the fact you cannot see the promotions, Betonline.com is a promotional site and you will want to do everything from Betonline.ag as that is the URL where you can actually play. It does not make an overwhelming amount of sense but nevertheless that is the way it works.
3. Sportsbetting.ag is probably the most top rated sportsbook that takes Litecoin. It is complete with a full sportsbook with all the betting options and also has live betting. You can bet on the financials, the ponies, play the casino or the live casino, or play poker too. There are many ways to earn deposit bonuses none of which emphasize Litecoin.
4. Bitcoinpenguin.com does not have a sportsbook but are worth mentioning as one of the top gambling sites for Litecoin users. They have a full casino for slots, video poker, and some other creative games as well as table games for poker, roulette, baccarat, blackjack, and even a virtual racebook. As its site name would indicate, the most heavily emphasized deposit bonuses are geared towards Bitcoin.
Very simply. It is a big reason why cryptocurrency is popular to begin with. You can do everything anonymously with no fees. Depending which website you use the transaction may occur instantly or it could take a couple days to finish. In either case the fact it is fast, anonymous, and free is a win across the board for everybody.
Each site has different minimum and maximum deposit and withdrawal limits. Also note that for your initial deposit and withdrawal with Litecoin prepare to be asked to present some documentation verifying it’s really you.
The fact Litecoin is not already a leading method for deposits and withdrawals leads me to speculate it will stay that way. Sites seem very content in focusing on incentivizing customers to use Bitcoin. That is why deposit bonuses are substantially juicier. They want you to use it and they don’t particularly want you to use Litecoin evidenced by the fact most places do not use it.
The fact Litecoin isn’t an especially preferred method is a little surprising since it is practically the same thing as Bitcoin. In that case, why not lump all the incentives for Litecoin in with Bitcoin? If anything, it will just bring more business in. It seems to be a case of the one who got there first won. Once Bitcoin made it to online gambling, there effectively wasn’t room for another major cryptocurrency source. It was all about Bitcoin.
All this said, over time I do think we will see Litecoin start to pop up in more and more places as an option but it will remain in the background as a secondary option. Bitcoin will hold its place as the primary option for those who want to deposit using cryptocurrency and that is never going to change as long as the deposit bonuses favor it so heavily.