Regardless of how you feel about Ripple, XRP remains one of the largest cryptocurrencies around and has its fair share of strong supporters and vocal haters. Unlike Bitcoin, a decentralized, peer-to-peer payment network, Ripple is a private fintech corporation that has been around since 2012. It uses its own payment network, called RippleNet, with XRP as its currency. Through the use of RippleNet, this offers shockingly fast but at the same time extremely cheap transactions.
Ripple was built this way because it aims to become a universal digital payment solution worldwide and a link between banks and the crypto world. Understandably all the above make a case for a very intriguing proposition for a payment method in gambling. We will explore how it can be used for XRP betting on Ripple Gambling sites. We will provide some essential tidbits about the coin and the process and we have also prepared a list for you with the best options for you to play.
Trusted Ripple Sportsbooks for 2022
Even though XRP is not widely used for betting, we have listed the top Ripple betting sites. Our selection is based on reliability, positive community feedback and a wide range of markets offered. If you are already familiar with XRP sports betting, go ahead and pick one of the bookmakers and enjoy your betting. If not, proceed to our essentials guide for betting with XRP.
What makes Ripple XRP unique
Several key points are making Ripple’s cryptocurrency XRP a unique option, not only for betting but in general. It aims to become a bridge between the crypto world and the traditional financial system. It uses a system similar to SWIFT payments banks do, which makes it very reliable and efficient.
As opposed to Bitcoin, Ripple XRP also has no mining; the total amount of coins available have been minted already and circulation is slowly being released into the market during the following years. The primary goal of this coin is to be the global digital currency of the future and the best XRP bookmakers stand to benefit from this immensely.
XRP strengths in gambling
This particular cryptocurrency is hands down one of the most suitable payment options for gambling. Meaning, you will definitely want to keep an eye for it on any XRP betting site. Let’s see the numerous reason why below:
✔ VERY fast transactions
It is fair to say that usually when you decide to place a bet, you would want to place your bet immediately if possible. Even though traditional payment methods, such as cards and e-wallets, are very fast, you are often met with extra scrutiny, background checks, unnecessary invasion of privacy, especially if you are a frequent and very active bettor. Bookmakers that accept XRP, which utilizes the Ripple payment network, manage to achieve lightning-fast transactions. A transaction is executed almost instantly. And the best part? You do not have to answer to anyone about your activity, no matter how high a volume or how often you deposit and withdraw.
✔ VERY cheap fees
You would think that such speed in transactions comes at the expense of exorbitant fees. The fantastic thing is this is not the case at all. You will never pay more than a small fraction of a cent for a Ripple transaction when you are depositing or withdrawing at an XRP gambling site.
✔ It is not as decentralized as you would expect
Cryptocurrencies are often synonymous with decentralization. Alas, being the product of a private financial institution, XRP is, to a large extent, centralized. The founding team holds the majority of the coins (to be) circulating supply. Depending on how you view this, it is not necessarily a bad thing. The fact that a major corporation is backing it provides more assurance that XRP will never go up in smoke along with your funds.
✔ No geographic restrictions
One of Ripple’s core missions is to become a global digital currency. This is demonstrated by the fact that you can, for instance, send Euros via XRP to a friend in Japan and they can instantly receive them in Yen. Honestly, it does not get more global than this and you can finally use this for your advantage by opting for betting sites that accept XRP.
✔ A great option for mobile gambling
A vast majority of players use mobile gambling. It is actually very convenient to manage all your betting in the palm of your hand. By opting for Ripple gambling, you can fund your mobile betting account with XRP within seconds. You also have access to your coins on your digital wallet, so there is nothing else you need to bet anytime, any place and on the go.
✔ An excellent option for Live betting
Similar to mobile, XRP gambling may even be the best option for live betting. Given the unmatched speed of the Ripple network transaction, you can fund your bankroll for your live betting in mere seconds! It is now possible to do it by the time Christiano Ronaldo finishes posing before a free-kick.
✔ Security on XRP sportsbetting
There is a large number of high-profile banking institutions which are backing up and have partnered with Ripple. To name a few, UBS bank, Santander bank and Union Credit are only some of its major partners. As you can understand, there is no way such institutions would be supporting it unless it was highly efficient and reliable.
✔ Ripple (XRP) is privacy-friendly
The Ripple payment network uses its blockchain to document and handle all transactions. Everything is recorded on the blockchain and your identity protected because the only visible information on there is your XRP digital wallet’s address and nothing more.
✔ Lower deposits, higher withdrawals
This is a much-welcomed trait that comes along with using cryptocurrencies for gambling. You enjoy better lows and highs when it comes to moving funds in and out of your account. In short, XRP sports betting is more inclusive by offering a more considerable leeway on the amounts you can use for betting. This coupled with the fact you can use XRP anonymously, is making gambling more accessible to people who, in other ways, would either be unbankable or unable to afford higher deposit limits. Oh and the best thing? Your deposits will never be rejected. Once a transaction is on the blockchain, it’s done. Irreversible.
XRP betting weak points
We went through the numerous advantages of using Ripple XRP for betting. On the other hand, there are a couple of disadvantages. They are not to be overlooked and don’t dismiss them because they are not as much as the strengths of Ripple gambling. Let’s go through them below.
❌ You need to be tech proficient to use crypto
It is a fact that you need to be somewhat tech-savvy to explore the many upsides cryptocurrencies have to offer and how to use them. This, too, is the case with Ripple XRP. You need to acquire a certain level of knowledge to use it at a Ripple betting site. Although it is not rocket science, it is a bit above the level of expertise the average user is capable or willing to have.
❌ Ripple is not a widely used payment method
You will need to search hard in order to find betting sites that offer Ripple XRP as a payment method even today. This goes to show that there is still room for improvement and adoption in the cryptocurrencies available to bettors who wish to get the best bang for their money. Luckily, you dear reader can find them in our list with the best xrp betting sites.
❌ It is not as decentralized as you would expect
While we have explained that we can view it as a positive, there are counter-arguments to the centralized nature of Ripple XRP. No single entity controls most cryptos and this fuels the libertarian approach of the crypto space. Many cryptocurrency advocates despise Ripple for the level of centralization it has over XRP. Plus, it is not always promising whenever an entity controls 51% of the supply. The possibility of pulling the rug from every XRP holder is always looming. This unpleasant scenario will be dreadful not only for the players but also for XRP betting sites.
❌ XRP Price is volatile
Another typical trait of cryptocurrencies is volatility in the price. It is not uncommon for XRP’s price to fluctuate enormously and this can bring an added layer of risk to your bankroll. You would most certainly not like it when all your gains have evaporated because of a large wick down in price.
❌ Possible legal troubles could bring Ripple down
Ripple has recently encountered some serious allegations from the U.S. Securities and Exchange Commission (SEC). Meaning, it is very probable they process with a massive lawsuit over whether or not it is considered a security, not a currency by US law. Even though it seems the Ripple foundation has a solid case for their innocence and is about to reach a settlement on these accusations, it would be most unpleasant if an actual legal battle began, which most certainly will hurt XRP’s reputation and price. Plus, legal entities may come after Ripple again in the near future.
Is betting with Ripple XRP secure and legal
Due to the fact it is privately owned, there is some criticism about the level of privacy Ripple blockchain offers since it is almost impossible to know how much personal data access the foundation has on its own blockchain. Regardless of this, XRP is considered very secure same as every cryptocurrency blockchain. As for betting with Ripple XRP, always make sure you play only in trusted bookies. There are also considerations about law and taxes.
☝ XRP betting and legislation
As with everything crypto, legislation is a bit unclear. But it all comes down to whether Ripple gambling is legal to gamble in your region or not. One more thing to keep in mind that legislation is ok as long as you play at a trusted bookie with an offshore license.
☝ Is XRP gambling taxable
This too is unclear, but until now, it is safe to assume that if gambling or capital gains are taxable in your country, then you will need to pay taxes for using XRP for betting too. You can also read terms and conditions on XRP betting sites about taxation or, even better, contact their support and ask. The most responsible thing to do on this matter is to consult a professional.
What You Need to Know About Ripple Gambling
Ripple is a private fintech company that has built a payment solution using RippleNet, their patented payment network. It is built on top of their own blockchain called the XRP Ledger. On it, it uses the currency XRP to execute unbelievably fast and cheap transactions. Contrary to most cryptocurrencies, namely Bitcoin, Ripple is not a peer-to-peer network. Instead, it aims to connect large financial institutions such as banks, payment intermediaries and exchanges by providing real-time settlement and low transaction costs.
Ripple came about in its current form in 2012. But it has yet to gain widespread adoption by gambling and betting sites, especially if you compare it with the likes of Bitcoin and Ethereum, the two cryptocurrency titans. Despite the surrounding controversy, mainly for not being decentralized enough, make no mistake, XRP is here to stay. It is still within reach of the top five cryptocurrencies. It is an undisputed fact that its traits make it an amazing option for banking in gambling and betting sites accepting XRP.
How to place a bet using Ripple XRP
Once you decided to use Ripple as a payment option, you simply need to acquire some from a trusted exchange. We would recommend Binance as the number one exchange in volume as far as XRP is concerned. That way, liquidity will never be an issue. All you need to do is follow the following simple steps:
- Register for an account in Binance. This step requires KYC
- Deposit your fiat money.
- Acquire some XRP, then transfer it to your digital wallet.
- Go to any of your favorite XRP bookmakers and register for an account there.
- Select the deposit XRP option. Copy the unique address generated there. Always triple-check the address you are depositing crypto.
- Go back to your personal wallet and paste the above address. Confirm.
- That’s it. Within moments(not even seconds), your bankroll is ready and you can not place any bet you like. Enjoy.
How to Withdraw from a Ripple XRP bookmaker
The process of withdrawing your XRP from your bookmaker is reasonably straightforward. In fact, you simply follow the exact reverse steps you followed when you deposited. Let’s go through them together below:
- Select the withdrawal option from your account.
- Carefully copy and paste the address from your personal wallet and send back your gains to yourself.
- Congratulation. You are now a proud owner of some XRP.
- You can now use that XRP to either transfer money on their platform or
- Go back to Binance and trade them for anything, be it Bitcoin or fiat.
- What else can you play using XRP gambling
There are many ways in which you can utilize this particular nimble cryptocurrency. You can not only use it in sportsbooks that accept it but also in any XRP casino. You can filter them by checking out which are reliable and trusted. Also, look for provably fair games and, as always, top-notch 24/7 customer support. Among the many games available, you will find options for Blackjack, Poker, Slots, Roulette and so much more.
New Ripple Bookmakers you can try out
With so many cryptocurrencies available as payment methods, XRP with its robust, gambling-friendly features, looks to be more widely offered. This could not be more evident in newer bookmakers; See our list below for the latest XRP sportsbooks. We include only the cream of the crop based on how new they are and according to their reliability, bonuses, offers, and marker options available.
Our take on XRP gambling
Even though Ripple is a controversial cryptocurrency, it is undeniable that it has some excellent features that fit perfectly with gambling. XRP offers extremely fast and very cheap transactions while providing considerable privacy and versatility. You can use XRP to swap seamlessly into every currency possible, whether fiat or crypto. It’s not a coincidence that XRP is also one of the top five cryptocurrencies around and with major financial institutions to back it up, it is not going anywhere soon. Therefore we can safely assume greater adoption of Ripple gambling is around the corner. Even so, the game still is about managing risk; gamble responsibly and never bet more than you can afford to lose.
On the contrary, many XRP casinos out there accept it as a payment option. We could go as far as to say that there are more casinos than betting sites accepting Ripple.
Gambling always entails risk, regardless of whether you are betting with fiat or cryptocurrencies. Ripple is a very secure payment method.
It is actually the same as with fiat. If gambling is legal in your country, then you can legally bet with XRP.
Unfortunately, no. Whenever you make a mistake in a cryptocurrency transaction, your funds are lost. A critical habit to develop is always to double-check the address and type of currency you are sending.
There are a lot of differences between them. Bitcoin is a decentralized payment system, meaning there is no central entity controlling it. Ripple is privately owned, meaning that there is a single organization controlling its function. Ripple is a payment settlement, currency exchange, and remittance system that intends to create a more efficient way of transferring money worldwide, whereas Bitcoin is a digital currency.
XRP is divisible down to six digits of precision. A Drop is the lowest denomination for XRP. It is one-millionth of an XRP.