When you think about crypto, the ones that mostly come to mind are Bitcoin and Ethereum. The truth is there are thousands of other cryptocurrencies, each with a distinct purpose. One of the most groundbreaking is Monero (XMR), which also happens to be one of the most exciting options for gambling due to its focus on privacy. Not only that, but XMR is faster and cheaper than BTC, which is why many gambling sites prefer it.
Granted, it is not yet the most popular option among crypto bookmakers. Moreover, be careful. There are many scams and especially in the case of Monero, they are very tricky too. Do not fall into their traps about huge bonuses and extreme promises. This is why we have gathered a list to include the best and most trusted Monero Gambling sites. Let's dive into the reasons why and how to approach Monero gambling.
Top Rated Monero Gambling Sites for 2023
In this list we put together, we include the top-rated Monero Gambling sites, based on the great odds offered, favorable bonus wagering, fast settlement in withdrawals and of course, their reliability. This last feature is essential in the case of Monero gambling due to its devious and dodgy reputation. Check them out below.
What makes Monero (XMR) unique
Since its inception, Monero (XMR) was built as a privacy-oriented coin; quickly gained traction among Monero betting sites due to the unique technology under the hood and the fact XMR is one of the few cryptocurrencies that is truly unhackable and untraceable. As part of Monero’s egalitarian approach and similar to the early days of BTC, XMR can be mined by anyone with a basic computer; do note that even though fair, mining for XMR is a bit complicated.
Monero is also much cheaper and faster than Bitcoin and many other coins. Contrary to BTC, it does not have a hard cap, which is not a bad thing necessarily. Also, privacy is a kind of a big thing these days and even if you don’t fret about it, you should. Every online entity you use daily, from social media to your favorite news site, wants a piece of your private information and XMR is an excellent hedge against that when it comes to your financial transactions.
Strengths in XMR gambling
Along with Zcash (ZEC), Monero (XMR) is the most popular privacy coin, not only in Monero Bookmakers but in general. It was also the first cryptocurrency to focus solely on this. XMR’s popularity is not without merit since the coin has many strengths. Let’s see why.
✔ Complete privacy and anonymity
Through its unique and complicated technology, Monero betting manages to provide fully private transactions, which are untraceable and unhackable. It is impossible for an outside viewer to identify or trace any XMR transactions.
✔ Faster transactions
XMR was created with an architecture similar to Bitcoin’s but better. That resulted in much better speeds; transaction processing time in Monero gambling only takes two minutes, which is light speed compared to Bitcoin twenty-thirty minutes for a fully processed transaction (on a good day).
✔ Among the Lowest fees around
Another perk that resulted from the improved architecture XMR uses is the low fees required to reward the miners. In plain English, Monero has among the cheapest transaction fees around, which makes XMR gambling ideal.
✔ Fully secure
Utilizing several groundbreaking technologies, the main one being ring signatures, XMR manages to fully mask every transaction, making it invisible and untraceable to potential evildoers. You will struggle to find any cryptocurrency more secure than Monero.
✔ Monero coins are fungible
Another unique feature that XMR has is fungibility. To put it simply, it is as if you have an ordinary euro, a dollar bill with no serial number. That makes each piece of this currency identical; therefore impossible to trace its movements. You can rest assured that no one will be able to track your gains back to the Monero gambling sites you used to win them.
✔ No geographic restrictions
That is actually true for most cryptocurrencies. Due to their decentralized nature, they are not restricted to one country. That means you can use Monero and place a bet from anywhere. Either from your home in London or a beach in Zanzibar.
✔ Under the radar betting
All the above nifty features enable you to finally practice under the radar betting. By using XMR, which is untraceable, unbound by regions and totally secure from outside dangers, you can be sure that your activity will be impossible to monitor and you will not have to explain anything to anyone for your betting activity.
✔ Already too big to fail (top 20)
Monero has been a pioneer in the field of privacy cryptocurrencies. It was the first coin to specifically address this critical issue, especially when tracking financial activity. The significance of privacy is also one of the many reasons XMR is a top twenty cryptocurrency with a promising future. Privacy issues are not going away soon and Monero offers a solution to this problem.
✔ Deposits will never be rejected
Another great thing about cryptocurrencies is that each of them operates through their blockchain; An online ledger whose copies are kept in several computers around the world, making it impossible for a transaction to be falsified or altered. Consequently, as soon as you make your deposit, it will go through. There is no way to dispute the transparency of the blockchain, even with Monero’s untraceable technology, which simply requires an extra step for this proof.
✔ Low minimums high maximums
Monero betting sites allow for significantly lower minimums for deposits. They usually have no limit in withdrawals, too; This enables you to wager in whatever low amount of money you wish. A much-welcomed feature, as it offers access to players with even a tiny bankroll.
Monero XMR gambling weaknesses
Even though Monero has many strong points, certain disadvantages are significant and you must consider them before opting for XMR gambling. You should always weigh both the pros and cons in your decision so let’s dive into the cons below.
❌ Using XMR is more complicated than usual
One of the main obstacles to the adoption of cryptocurrencies is the learning curve you need to follow when you start using them. Even though it gets easier the more you are accustomed to it, Monero requires a bit more extra expertise to understand how it works and use it effectively in XMR betting.
❌ Bad Reputation may lead to significant regulation
Due to its characteristics, Monero receives criticism for having close ties with hardcore parts of the underworld. XMR is the primary cryptocurrency for users in the darknet for nasty things such as drug and weapons trafficking. Understandably, this raises suspicions by the authorities. Suspicions that resulted in a wide ban of XMR in China in 2020. That ban led to delisting from exchanges and a plummet in XMR’s price. As you can imagine, this is not very encouraging for the future of Monero bookmakers.
❌ Not easily accepted
One other discouraging fact is that there, even today, you will still struggle to find betting sites that accept Monero as a payment method. That leaves you in a broader search for a suitable option, which entails the risk of landing on scams. Here’s a quick reminder to check out our list for the most trusted options.
❌ Price is volatile
Even without the dangers of regulation affecting it, like all cryptocurrencies, the price of Monero is inherently volatile. You should strongly consider that, especially when using a Monero betting site that does not convert your cryptocurrency to conventional fiat currency when you deposit. That leaves your bankroll vulnerable to price swings that may diminish your returns.
❌ In case of mistake, you are left worse than other crypto
While it is valid for all cryptocurrencies that a simple mistake in a transaction will cost you your funds, in the case of XMR sports betting, this is especially true. That is because, in most other crypto, there is a slight chance you may be able to track and trace your lost funds in case of a theft. While this does not mean you will get them back, most likely, with Monero, you do not even have this chance at all. In case of theft, mistake, you lose your funds forever.
❌ When it comes to withdrawals, you are not anonymous
The tricky thing when you gamble at a licensed bookmaker is that almost always, you will need to verify your identity during the withdrawal process. That is mainly to tackle money laundering, but it also means that whatever privacy you gain by opting for Monero gambling for your betting activity, you lose it the moment you decide to withdraw your funds.
❌ Reports saying speed is slow occasionally
In theory, Monero gambling is supposed to have high speeds, which can come very handy in the case of your live betting, for instance. However, it has been reported that processing times, in reality, are very sluggish and experience delays nowadays, when the Monero has grown in size and users.
Are Monero Bookmakers legal and safe
XMR is one of the most secure and safe cryptocurrencies around. So, yes, Monero betting sites can be safe and legal, as long as you do your research and learn how to use crypto correctly. In all cases, always play in trusted bookies. Look for licensed ones with good bonuses, responsive customer service in chat and email, lots of games available in major markets. There are also considerations about law and taxes.
☝ XMR betting and legislation
Crypto is legal in most countries. Regarding gambling, it is a bit vague but depends on age & gambling laws in your region. Also, keep in mind that legislation is ok as far as you play at a trusted bookie with an offshore license.
☝ Do I pay taxes using a Monero betting site
Taxation, too, is uncertain, but for the time being, you are safe if you approach it as any potential taxation coming from gambling winnings. Additionally, keep in mind that you are not taxed in most cases unless you sell your XMR for conventional currency. It is equally important that when in doubt, always consult a professional.
Getting Started with Monero Betting
Before you start using Monero for sports betting, here are the basic things to know about it. Founded in 2014 by a group of programmers who met within the infamous Bitcoin forum, Monero (XMR), which means coin in Esperanto, is an open-source digital currency focused primarily on privacy. By utilizing complex technologies, XMR gambling achieves a high level of privacy and even makes anonymity in cryptocurrency transactions possible.
Monero betting has been an option in gambling sites for some time now, especially in casinos. It does, however, suffer from criticism for its ties into the darknet and underworld. This does not change the fact that it is a top 20 coin, not going anywhere soon; because privacy is an important issue nowadays, it should become more common as a deposit/withdrawal option in Monero betting sites.
Explaining the basics of XMR technology
We will attempt to simplify the unique features XMR offers compared to other cryptocurrencies. There is a particular way XMR’s transaction network works. It makes every transaction between two parties untraceable and unlinkable to each other to an outside viewer. You can only see that a transaction has occurred, but you can not even know the amount of XMR, even the date and time it transpired. The use of Ring signatures achieves this. To put it roughly, ring signatures group transactions in with others in a certain way that you can not know which is the actual one you are looking for.
XMR’s fungibility also assists this, as we explained earlier. Imagine you get two twenty euro bills. Even though they look identical, you can tell them apart from one thing: the unique serial number each bill has. Contrary to that, there is nothing to distinguish one unit of XMR from another. This is one of the many reasons why Monero transactions are almost impossible to be linked to each other. Ultimately, all the above features offer an unparalleled level of security and privacy. Plus, in contrast to the Bitcoin or Ethereum network, you can not analyze any movements on the XMR chain and therefore track a coin’s course.
How to place a bet using (XMR) Monero
First, you need to acquire some from a trusted exchange. In general, be very careful with Monero scams. We would recommend a large exchange such as Binance and Coinbase. That way, liquidity and reliability will never be an issue. Then, simply follow the following simple steps:
- Register for an account. If you trade up to a certain amount, you may not need KYC verification at all.
- Deposit your fiat money (euro, pounds, dollars).
- Buy some XMR, then transfer it to your digital wallet.
- Pick the Monero betting site of your preference and sign up for an account; you only need an email address for this.
- Go to deposits and select XMR. Copy the unique address generated there. Always triple-check the address you are depositing crypto at a Monero sportsbook.
- Go back to your personal wallet and paste the above address. Confirm.
- That’s it. Within minutes, your bankroll is ready and you can now place any bet you like. Enjoy.
How to Withdraw from XMR betting sites
The withdrawal process is pretty straightforward. You only need to keep in mind that you may need to verify your account in this step, which will require you to provide some personal details. In any case, follow the steps below.
- While signed in, go to withdrawals.
- Using the same process as deposits but in reverse, send your gains back to your wallet.
- You can now either store your XMR or go to a trusted exchange and trade it for anything, whether crypto or for fiat.
XMR gambling: Other games you can play
Before it was even accepted in Monero betting sites, XMR was widely abundant in Monero casinos. Since its early days, they have adopted it just because of its stealthy nature, low fees, and great speed. When looking for crypto casinos, it is best to filter them by checking out which have been around for many years, have a good reputation and, of course, fantastic bonuses and lots of games offered. Another very unique feature to favor is provably fair games and, as always, top-notch 24/7 customer support. Gaming options mostly include Slots with free spins, Roulette, Blackjack, Dice, Poker, and so much more.
Our take on (XMR) Monero gambling
Monero offers a unique proposition, which sets it apart from almost all other cryptocurrencies. It was the first coin to pave the way on the road of private transactions, which is essential in our time. Coupled with its unbreakable security and low fees, Monero makes an excellent option for gambling. Even though bookies still not widely accept XMR as a payment method, Monero Betting sites raise the bar, making betting under complete privacy and anonymity possible. You can finally practice under the radar betting with this coin. Being also a top 20 cryptocurrency, XMR is here to stay for the long ride.
Yes they do. Even though it is not widely accepted, you will find trusted bookmakers that accept Monero (XMR). Regardless, you should strongly consider XMR, because it offers full anonymity and privacy, along with fast processing times
Of course, many Monero betting sites offer bonuses. Keep in mind in most of them, regardless of the crypto you deposit, you get the same standard bonus in fiat and also, there are no Monero specific bonuses.
Monero certainly has a future. Privacy coins are always in demand and this could not be otherwise for the top privacy-oriented cryptocurrency.
This is because the actual coin used by the Monero network is called XMR. It is perfectly normal. Monero will always be the same with XMR.
No. Through the sophisticated technology of ring signatures Monero uses, transactions group inputs and outputs together, it is impossible to identify which is which unless you have a private or viewing key.
This was a bit difficult a couple of years ago, but nowadays, you certainly can. Look for MyMonero official wallet by Monero and a third-party one, CakeWallet.
If you are holding Monero, simply sign up at a reputable exchange such as Kraken or Binance and trade your XMR for any currency you like, e.g., Euro, US dollar, British pound and so on.