Is Bitcoin Still the King of Crypto Gambling?

Bitcoin is the original cryptocurrency and has been synonymous with crypto for all these years, but is it still the king of crypto gambling, or do online casinos offer better options nowadays?

In our Cryptogamba guide below, we discuss the status of BTC in crypto casinos today and whether a different cryptocurrency is worth more money and time.

Bitcoin Availability at Online Casinos

Since its launch in 2009, Bitcoin has been the epitome of crypto. It paved the way for other cryptos and it is still rocking the world – and not just the gambling one. In fact, the Bitcoin Dominance Index hit a new cycle high in November 2024, where it got to a share of 61.39% of the market.

The BDI is a reference to the value of the BTC network compared to all crypto assets available worldwide. Although not a very sophisticated way of measuring its dominance, especially since it doesn’t include stablecoins (for the reason they are pegged to the US dollar), it is still a dependable measure of the value and dominance of the markets.

With so many people using BTC as their primary crypto for online gambling, many casinos are offering Bitcoin as their primary payment method.

Not only do these casinos accept BTC, but they are designed around using Bitcoin and making the experience smooth and convenient. There are exclusive BTC casinos, sportsbooks and poker rooms. In fact, renowned Bitcoin casino online brands like PlayBet Casino offer an exclusive welcome bonus of up to 4BTC.

Bitcoin Fees Today

One of the most common challenges BTC faces is high transaction fees. The fees are determined by the demand and the block space availability. This is why, in times of high activity, the fees spike.

For example, in 2023, the fees spiked to $30 per transaction when memecoin trading increased the overall demand on the network. Normally, when this isn’t the case, the Bitcoin fees can be as low as $1 or $2.

These shifts in predictability can be somewhat inconvenient for micro-transaction privy players. Those who like to make smaller deposits often are most affected by this, as it reduces their gambling budget significantly.

Bitcoin Processing Times Today

Just like fees, the transaction speed of Bitcoin also depends on activity. Usually, BTC transactions can take about 10 minutes to be confirmed in the block, but this can change depending on the time of day and network activity. For example, the processing time can take up to 30 minutes during major market events.

This can be somewhat inconvenient for players who are making their first deposit at an online casino or have exhausted their existing budget. Compared to BTC, other cryptos can be a better alternative, some taking a few seconds to process due to their lower activity on the blockchain.

Other Challenges to Bitcoin’s Reign

Besides the fees and speed, the rise of altcoins and stablecoins is a rising threat against BTC’s dominance over the crypto-gambling banking world.

Many new crypto casinos and even well-established ones, such as Genie Jackpot or Immerion offer thousands of games that can be played with many types of crypto deposits. Although it reduces the BTC share of the market, the casinos with crypto are still, in the main sense of the phrase, Bitcoin casinos.

Stablecoins are also becoming a part of players’ interest today, with USDT and USDC becoming increasingly popular. However, these coins are tied to fiat currencies, and crypto enthusiasts don’t consider them a direct alternative to BTC.

How Does Bitcoin Compare to Other Cryptocurrencies

Although BTC remains the steadiest growing and largest crypto to use for online gambling, there are a few very strong alternatives, especially in terms of processing times, which is extremely important for many online casino players, especially live bettors.

Ethereum’s block time is 12-14 seconds, making it a faster option. Litecoin also is faster, with an average transaction time of 2,5 minutes and lower fees ranging from around  $0.10. Lastly, a decent alternative would be Ripple, which typically needs 3-5 seconds to process the transaction.

Areas in Which Bitcoin Dominates Other Cryptos

Although there is a list of challenges, Bitcoin still dominates crypto gambling.

First, it is widely accepted. Practically, there is no online crypto casino that doesn’t offer it. With many casinos offering BTC-exclusive bonuses, promotions and rewards, Bitcoin is undeniably the go-to choice for accessible crypto gambling.

Second, no other crypto security can compare to the one provided by Bitcoin. It is the oldest blockchain, and this brings a lot of security compared to new competitors. The risk of using Bitcoin is considerably lower compared to less-proven cryptocurrencies.

Third, Bitcoin is also being updated regularly. Layer-2 technologies like the Lightning Network are addressing the scalability issues that undeniably happen for all cryptocurrencies. It also solves the transaction speed obstacles we mentioned above.

What You Should Use Today

After our thorough research on BTC’s status today, we can conclude that Bitcoin still holds the throne of crypto gambling. Although it isn’t a monarchy-type rule, with Bitcoin having competition such as Ethereum and Ripple, the vote for BTC is overwhelmingly decisive.

With Ethereum and Ripple being strong alternatives and, at times, faster, Bitcoin still has a lot to do to maintain its position as the leader. However, due to its unparalleled safety, reputation, and adjacent supporting technology, we can say that Bitcoin is still the best, fastest and most secure crypto for online gambling.