23 June, 2023

‘Limitless’ crypto payment possibilities

Gamblineers owner and regular Gambling Insider contributor Adam Gros reflects on the past year of crypto payments within gambling

Cryptocurrencies in online casinos opened the gambling market to much wider audiences, bringing with them a promise of instant payments, low fees, fewer payment limitations and more. In the last decade, the crypto casino industry has spread and we now have many different ‘casino types’ within the crypto casino industry today, mainly crypto-only casinos, and casinos that accept both fiat and crypto (hybrid casinos).

Being crypto casino affiliates, we’re trying to cover the crypto casino market as thoroughly as possible, which allows us to work with hundreds of different casinos and see how they differ from each other; even when it comes to payments for crypto players. So we decided to compare crypto-only casinos with hybrid casinos to see which is better for crypto payments.Although casinos have the option to process crypto differently than fiat, which can, in turn, affect deposits, withdrawals and payment limits, we found that most hybrid casinos simplify things and treat fiat and crypto payments very similarly. Since fiat payments aren’t under casinos’ control, we expected hybrid casinos to be more rigorous, even in crypto payments, which turned out to be true.

Deposits and Withdrawals

Regarding deposit and withdrawal limitations in cryptocurrencies, crypto-only casinos are much more flexible than hybrid casinos.

You can expect average minimum deposits in crypto-only casinos to be at least half the size of minimum deposits in hybrid casinos. While most minimum deposits range from $0 to $20 in both casino types, crypto-only casinos always stay under $30, while some hybrid casinos can have minimum deposits even well over $100. Maximum deposits bring even more significant differences. Casinos that use direct blockchain transactions for crypto typically stick to unlimited maximum deposits. Casinos that use third-party payment providers for crypto payments must adhere to limits set by the providers. And since most casinos using third-party payment providers are hybrid casinos, crypto-only casinos have, on average, almost 15 times higher maximum deposits than hybrid casinos.

Withdrawals, on the other hand, bring crypto-only and hybrid casinos closer together. While crypto-only casinos still offer lower minimum and higher maximum withdrawals on average, the gap is much smaller.

“Depending on player preferences, choosing cryptocurrency first, and then crypto-only casinos, may have its advantages if payment and bet limits are a priority”

An exciting find, which we found only in crypto-only casinos, is unlimited deposits and withdrawals. Although very rare, players can encounter unlimited transactions in newer crypto casinos, which try to stretch their boundaries and thus attract more players. However, we always recommend caution regarding such things, especially with new casinos; after all, we’re still talking about relatively uncharted territory.

Maximum Bets

Most online casino games come from different software providers who also set bet limits for their games. Casinos can place custom maximum bets for their casino but usually don’t, and just stick to what the game providers have set. The highest bets can be found in live table games, primarily blackjack, where maximum bets can range in the hundreds of thousands of dollars.

Some crypto-only casinos, however, have developed their in-house games, where they have complete control over bet limitations. Firstly, in-house games aren’t found in every crypto-only casino; in fact, most crypto-only casinos don’t go into developing their own games. Secondly, even some hybrid casinos (although more scarce) have in-house games today. From these few that do have their own games, you can find a couple that will surpass even the highest live blackjack bet limits or not set any limits at all!

And what’s more interesting is that we’re not talking only about blackjack, but practically every game type, from slots to table games and unique ‘crypto’ games like crash and dice. If finding a classic slot game from any game provider where you can place a bet of $100 is rare, maximum bet limits of several tens of thousands of dollars aren’t uncommon in in-house slot games and other game types. The only kind of game you can’t find among in-house games is live games, where players typically find the largest maximum bets in any casino. Depending on player preferences, choosing cryptocurrency first, and then crypto-only casinos, may have its advantages if payment and bet limits are a priority. Such casinos usually also have higher bonuses measured in a few BTC, instead of a couple hundred or thousand dollars. But we have to bear in mind that while choosing crypto over fiat might have its advantages, it also has its disadvantages, such as high volatility, a less regulated market, and no intermediaries with insurance in case anything goes wrong.