Solana is not yet on par with the big dogs, Bitcoin and Ethereum, in online gambling, but due to the many benefits it provides, it’s rising in popularity and threatening to take over the show. The coin is beneficial in online casinos due to its efficiency and near-unprecedented speed. It’s also safe and features a fast-growing ecosystem of gambling decentralized applications (dApps).
But how do you use it in online casinos, and what exactly is Solana? How to choose a SOL casino? Does Solana gambling come with significant downsides? These, and many other questions, are answered in our guide on Solana casinos, so keep reading.
Solana is a high-performance, open-source blockchain platform made to host stable and decentralized apps. It draws inspiration from Ethereum, but it aims to overcome the scalability issues this network is known for.
Anatoly Yakovenko and Raj Gokal developed Solana and launched it in 2018 with the goal of providing a secure, fast, and highly scalable ecosystem for developers worldwide to build dApps.
Speed and scalability are key features of this blockchain. It can handle as many as 50,000 to 65,000 transactions per second, which is twice as fast as Ethereum and 10,000 times faster than Bitcoin.
The native cryptocurrency of Solana is SOL, and it’s there for three main reasons:
Owning, trading, and using SOL is entirely legal in the US and most other Western countries. However, bear in mind that the SEC (United States Securities and Exchange Commission) still considers SOL to be an unregistered security, which has led to several lawsuits that are pending resolution.
Solana is largely governed by the same laws as other cryptocurrencies in most jurisdictions. Most countries in the world either regulate crypto or don’t. In the latter case, it’s generally considered that the lack of specific laws renders digital currencies legal. Only a handful of countries outright ban crypto, and thus Solana as well.
As the legal landscape is constantly evolving, it’s essential to stay up-to-date with the latest news in your jurisdiction or consult a professional. The details provided here are for informational purposes only and may become outdated quickly.
To get an insight into what gambling with SOL is like, let’s review the main advantages of its use in online casinos.
With support for over 50,000 transactions per second, you can probably guess that transactions on the Solana network are handled almost instantly. If the casino processes them automatically, as most do, this also leads to near-instant SOL deposits and withdrawals.
Transaction fees on the Solana network are minimal, typically only a fraction of a cent. This makes it very cheap to deposit and withdraw in online casinos, especially when you consider that most Solana casinos don’t charge their own fees on SOL payments.
Like most cryptocurrencies, Solana also offers anonymity, and so do SOL casinos. They largely forgo KYC processes (unless they also support fiat payments) and require fewer details to register and verify. Most of all, there’s no use of banking data, so your real funds stay separate.
Solana casinos are rarely limited by jurisdictions and primarily operate internationally in most countries that don’t ban gambling altogether. Even though their numbers aren’t as big as fiat casinos, you’ll still run into them often thanks to their broad availability.
Even though SOL is mostly perfect for online gambling, it’s not without its downsides. Here are the most important ones to know:
Let’s review the main criteria you should use when evaluating Solana casinos.
Although not always required, it’s still great when a SOL casino holds a proper license. It makes it look more trustworthy. Besides that, you should always google the casino to see what other players are saying about it to ascertain its reputation.
Solana itself is highly secure, but the casino also needs to operate with proper security measures like SSL encryption. It should also offer additional account security options, like 2FA.
Naturally, a Solana casino should support SOL deposits and withdrawals, but it should also have beneficial terms. You don’t want to see any added fees on these transactions on the part of the casino, while the limits should be broad enough to accommodate your needs. Most of all, withdrawals should be near-instant.
A sound SOL casino library has over a thousand releases. It’s also diverse, covering a wide range of slots, live casino games, RNG table games, crash releases, specialty titles, and provably fair casino games.
Bonuses are an important part of the experience, which is why you should check the promotional lineup of every SOL casino you consider to ensure it offers enough. You want a diverse range of promotions you can claim with SOL deposits, including the ones covered below.
Solana casinos offer a wide range of bonuses, and the most common ones include:
Offered to newly signed players, welcome bonuses often come in the form of match deposit bonuses of as much as 200%. Many also come with free spins.
These promos are designed for existing players and can be claimed repeatedly, usually every week. Most are either match deposit bonuses or free spin offers.
Many Solana casinos today have loyalty programs that reward players just for wagering. Rewards are earned in exchange for points or upon completing levels. Either way, they typically include bonus funds, free spins, rakebacks, and perks like personal account managers, higher withdrawal limits, and special gifts.
Cashbacks return a specific percentage of lost funds to the player, typically between 10% and 30%. Most of these are limited to a specific period, but some can also be wager-free, meaning they award withdrawable cash, not bonus funds.
Using SOL in online casinos is quite simple. Here’s a quick step-by-step guide on what you need to do to start playing.
Check our list and choose your favorite Solana casino. Visit the official website using our link to receive an exclusive promo offer, if available. Start the registration process.
Provide the necessary personal information to complete the signup procedure. Verify your account if required.
If you don’t have SOL, you’ll need to buy some. If you don’t have a wallet for buying and storing SOL, find a non-custodial one that supports Solana. Popular choices include Solflare, Phantom, Atomic Wallet, and Exodus.
Set up one according to the instructions provided by the brand, and install the app if available. Apps are very convenient for deposits and withdrawals in casinos.
Return to your casino account and check the welcome bonus. Review the terms to ensure you know the minimum deposit requirements.
Visit the Deposit section and find Solana in the mix. Select it and scan the QR code with your crypto wallet app. Enter the amount you wish to deposit and complete the transfer.
The funds should appear in your account almost immediately. Visit the game library, pick a game, and start playing. Ensure the game contributes to fulfilling the wagering requirements of the welcome bonus.
If you want some alternatives to Solana for casino payments, here are some suggestions:
If you’re fearful of SOL’s volatile price, you should go for a stablecoin like Tether (USDT). Its price is tied to the US dollar, but bear in mind that it’s a token running on multiple blockchains, so be cautious when making payments to ensure you select the correct one.
Bitcoin is the most widely accepted crypto, so it’s always an excellent alternative for the sheer number of available gambling platforms. However, it comes with much higher fees and waiting times compared to Solana.
I’ve had nothing but a good time with casino operators that support Solana payments. I always had the option to make both deposits and withdrawals, while actual gambling was typically done in a fiat currency. However, this was only for cosmetic purposes, as most casino games cannot display crypto balances. My balance was still in SOL, and I eventually received payouts in SOL.
I usually had access to rewarding bonuses, although most were made for other cryptos. I was able to claim them in SOL in most cases, but the information was still in USD, USDT, or BTC in the majority of cases.
If you still have further questions about Solana and SOL casinos, find the answers below.
Yes, they are. Naturally, this presupposes that you’re using a secure and reputable online casino that supports Solana payments.
Solana casinos are rarely regulated worldwide. However, it’s still important to check the legality of crypto gambling in your jurisdiction.
Yes, they do. All the leading ones automatically process SOL withdrawals. The Solana blockchain handles transactions almost instantly in most cases. This means you’ll receive your SOL coins from the casino account to your crypto wallet within seconds of initiating a withdrawal.
Sure. You can claim the welcome bonus and, afterward, other regular offers like cashback, reload bonuses or free spin deals. The range of offers depends on the casino. Some even have original ways of rewarding players, like missions or special games.
Yes, you can, but you’ll first need to withdraw your SOL from the casino and transfer it to your wallet. If you’re using a wallet that supports crypto trading, you’ll be able to exchange your SOL coins for another crypto or even fiat. When exchanging for fiat, you’ll get to withdraw the funds to a supported payment method, like a bank account or debit card.
Yes, Solana is one of the cryptocurrencies that support staking. If your wallet supports this, you’ll likely be able to stake SOL coins and earn interest. The annual yield will depend on market conditions and the wallet’s offerings, but it will often be between 5% and 12%. For example, if the yield is 7% and you stake 1,000 SOL, you’ll have 1,070 SOL after a year.
