Esports Betting With Litecoin 2023

What is Litecoin?

Litecoin was created back in 2011 by Charles Lee, a former Google employee, for the explicit purpose of offering crypto users an alternative to Bitcoin. Of course, there are now literally thousands of Bitcoin alternatives available. Yet alongside Ripple and Ethereum, Litecoin has steadily remained up there as one of the best and most widely used.

Litecoin is, in fact, so named because it is essentially a lighter version of Bitcoin. It’s built upon the exact same blockchain and is essentially modeled on Bitcoin in almost every way. However, there is one key difference, which is that Litecoin is around 25% faster than bitcoin and is therefore better prepared for use as an actual daily currency.

If we were to try and explain the comparison, you could imagine that Bitcoin is like a heavy lump of gold – it could be a valuable investment, but you wouldn’t want to carry it around all the time. Litecoin, on the other hand, is like paper money that you can easily hold in your wallet and use to pay for things.

Litecoin and esports betting 

So why has esports betting with Litecoin become such a popular option? Largely because of some of the reasons mentioned above – it’s one of the best cryptocurrencies for everyday use. The fact that esports is more commonly bet on using crypto than regular sports can mainly be explained because there’s a lot of crossover between users. That is to say, the types of people who are into competitive gaming are also likely to be really into using cryptocurrencies – and we most definitely include ourselves in that.

While we do love crypto investing and trading, we are very much of the belief that crypto has a big part to play in the future of our everyday lives. Its potential is now being realized, and Litecoin and other cryptos are only becoming more and more mainstream. From ​​sports betting with Litecoin to using crypto in high street stores, we’re pretty hyped about the future – and we want to share that passion with you!

Esports betting with Litecoin vs Bitcoin

Given that it’s still the best-known and most widely used coin, betting sites that accept Bitcoin are still more sought after than those accepting other cryptos. However, as we’ve already mentioned briefly, we truly believe that Litecoin is the better choice for a variety of reasons. While we have already touched upon why we think esports betting with Litecoin is better, we’ve decided to run you through some more detailed reasons below.

Faster transactions

One of the biggest advantages that esports betting with cryptocurrencies in general holds over fiat currency betting is speedier transactions. However, as we said earlier, Litecoin is much faster than Bitcoin when it comes to processing transactions thanks to the script algorithm that it uses. To put it into numbers, you can expect your transactions to be processed within two or three minutes when esports betting with Litecoin.

On the other hand, if you were to use Bitcoin, you could be waiting anywhere between 10 minutes and one hour. Don’t get us wrong though, we’re not Bitcoin bashing at all here – it’s still a valuable coin. What we prefer is investing in Bitcoin but using Litecoin. Essentially, Bitcoin is like gold, and Litecoin is like cash or a credit card.

Lower fees

As well as being slower, the Bitcoin blockchain gets strained and overloaded more easily, which results in higher transaction fees, especially during busy hours. It’s still not uncommon to see Bitcoin transaction fees as high as $40, though generally, they do sit somewhere between $20-$30. Litecoin, on the other hand, has an average transaction fee of around $0.007 (Hello James Bond fans!), so it really is a no-brainer what the best choice to make is here.

Better security

Once again, enhanced security is something that all cryptos can offer. Bitcoin and most other cryptocurrencies are built upon public ledgers. These are essentially systems that keep transactions in a sort of anonymous record book. Private ledgers go one step further by restricting who has access to the records. The argument against private ledgers is that they are not as egalitarian, as not all users have the same level of access to the transaction records.

Why use ​​Litecoin over fiat currencies?

The reasons that we have provided above for why we favor esports betting with Litecoin over Bitcoin also apply to why we love crypto esports betting in general over using fiat currencies. However, there are a number of other advantages that using crypto to gamble has over regular fiat currency betting. Once again, we’ve provided you with some more advantages of esports betting with Litecoin.

Privacy

Litecoin and all cryptocurrencies offer a level of privacy and anonymity that payment methods using government-backed currencies will simply never be able to match. As we said above, all cryptocurrency transactions are anonymous, but your Litecoin transactions are even more protected thanks to the private ledger.

Additionally, you do not need to enter any personal or banking details to share with the merchant when it comes to funding your esports account. As well as keeping you more secure, this also keeps you more private online and leaves no digital paper trail.

Moreover, some Litecoin esports betting sites don’t even require you to provide any personal details when signing up, meaning that your betting account is also completely anonymous. However, such sites do usually have issues when it comes to getting officially authorized by a recognized regulator.

Bonuses

As well as offering lower fees for you, esports betting with Litecoin incurs lower fees for the sportsbook as well. You might not believe it, but many esports betting sites will then pass these savings on to you in the form of larger bonuses. If you’ve already had a look at some Litecoin and Dogecoin betting sites, then you might have noticed that the bonuses are better than those being offered by your current fiat betting site operator. Understandably, you might have thought that it was simply too good to be true. However, in most cases it is not, because of the aforementioned reasons.

Additionally, some operators that accept multiple crypto coins and fiat currencies will also give users certain incentives to make deposits using the coins that incur the lowest costs to them. Look out for things such as Litecoin reload bonuses when using your crypto esports betting account.

Faster withdrawals

If you’re already using a fiat currency esports betting site, then we can almost guarantee that slow withdrawals are the bane of your life. Even if we can’t convince you to become Litecoin converts like us, we strongly recommend that you at least use something other than your credit card or bank account for betting payments. When you add the sportsbook’s withdrawal approval time to the bank’s payment processing time, you can be looking at over a full week before you get the money in your account.

This can be vastly reduced simply by using an e-wallet like PayPal or Neteller, where withdrawals are typically processed in between one and three business days. However, no fiat currency payment method can match esports betting with Litecoin, where you can expect the funds to arrive in your wallet within minutes in most cases. Even when using an operator that approves and processes each transaction manually, you can expect to receive your money within 24 hours.

Higher limits

High rollers and big-money esports bettors are flocking to Litecoin and Ethereum sports betting sites in their droves for one simple reason – limits. As cryptos are decentralized and generally higher in value than fiat currencies, esports betting operators will more readily raise their limits in every capacity. This often means no deposit or withdrawal caps at all, and much higher wagering limits across all betting markets, games and leagues. As there is no government regulation involved, the betting operators are essentially free to set their own rules and limits.

How to start esports betting with Litecoin

If you’ve never bought or used Litecoin or any other cryptocurrency, let alone used it for esports betting, then we understand that the prospect of getting started might be pretty daunting. You might even still have some apprehensions about doing so. However, we’re here to put your mind at ease and assure you that it’s much easier than you think. To get started on esports betting with Litecoin, all you have to do is follow the three simple steps below.

Open a crypto wallet

While some exchanges and services will allow you to buy small amounts of crypto and store it on their servers, we strongly advise opening a crypto software wallet first and foremost. This can be done for free with a number of providers that also operate crypto exchanges and trading platforms. Rather than being the place where your crypto is stored, the crypto wallet is where you will store the private key that allows you to access it on the blockchain.

Buy Litecoin

Once you have your crypto wallet, you can then buy the Litecoin that you will use for esports betting. There are three main ways that you can purchase Litecoin online today. Firstly, the easiest way to buy Litecoin is over a crypto exchange, and this is what we would recommend if you are a first-time Litecoin esports bettor. If you have opened a wallet with a crypto exchange, then you will easily be able to purchase Litecoin and store your keys in the same place.

Alternatively, you can also buy Litecoin directly from a private individual seller either online or by meeting them in person. Lastly, if there is a crypto ATM near you, you can now physically go there and purchase Litecoin directly from the machine.

Open your esports betting account

The third and final step is to open your account with an esports betting site that accepts Litecoin as a payment method. The process of opening your account differs between each operator; however, it is generally quick and easy and follows more or less the same pattern. You can find an operator that supports esports betting with Litecoin where you are by using the reviews contained within the comparison tool here at Esportsbetting.com, which we’ll explain in more detail in the section that follows.

We love these esports providers, check them out!

Find the best Litecoin esports betting websites at Esportsbetting.com

The hardest step for many newcomers to crypto gambling is finding a sportsbook that supports esports betting with Litecoin, and that’s where we come in. Our team of esports betting experts and Litecoin enthusiasts have searched each and every corner of the interweb to find all of the esports betting sites that accept deposits and withdrawals in Litecoin.

What we have then done is put these websites to the test, meaning that we can deliver you a fair and honest review of each one. These reviews have all then been ranked and put into our comparison tool, which you can then use to find your ideal esports betting site. Additionally, you can also use our site to find the best Litecoin casino, poker site and more.

How to find your ideal Litecoin esports betting site

As you might have guessed, we’re massive fans of Litecoin, and crypto in general in fact. And we want to play a big part in it becoming a medium that is commonly used for daily transactions in society. However, we’re also huge fans of gaming and esports betting as well, and we can’t forget that’s also at the core of what we’re covering here.

Finding your ideal site for esports betting with Litecoin involves looking past whether or not the site accepts Litecoin as a payment method. Additionally, you also have your esports betting needs and tastes to take into account. Our reviews cover a number of aspects in detail, with the idea being that we can help each of our readers to find their ideal esports betting site.

We take into account what games and leagues you want to bet on, as well as what types of betting you favor. If you are a fan of live betting, for example, then our comparison tool can lead you to the best Litecoin esports betting sites with live streaming services and regularly updated in-play odds. If you like to bet on the move, you can find the best esports mobile betting apps with Litecoin right here.

Esports betting with Litecoin – The summary

We may have reached the end of this article; however, the fun for you is just about to begin – and we couldn’t be more excited. If you’re as enthusiastic about esports betting with Litecoin as we are, then you can now use our comparison tool in order to find your ideal operator today.

Just remember that the main advantages of Litecoin betting are speed, security and anonymity. However, we’re not going to pretend that there aren’t a few disadvantages, with the volatility of the currency being one of them. Still, we truly believe that the pros outweigh the cons and that Litecoin has a big future in consumer society in general – not just esports betting.

You’re gonna love these esports betting bonuses!

Esports betting with Litecoin FAQ