Best Monero Betting Sites

One of the most groundbreaking coins is Monero (XMR), an exciting option for gambling due to its focus on privacy. XMR is faster and cheaper than BTC, which is why many players prefer it. Granted, it is not the most popular option among crypto bookmakers.

In addition, there are many scams, especially in the case of Monero, where they get very tricky, too. However, if staying under the radar is your first concern, XMR is a non-negotiable option. Let's dive into why and how to approach Monero betting sites.

Which Are The Top Sites With Monero Betting

This list includes the top-rated Monero Gambling sites based on the great odds offered, favorable bonus wagering, fast settlement in withdrawals, and 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; Note that although fair, mining for XMR is a bit complicated.

Monero is also much cheaper and faster than Bitcoin and many other coins. Unlike BTC, it does not have a hard cap, which is not necessarily a bad thing. Also, privacy is a big deal these days, and even if you don’t fret about it, one day, you might.

Every online entity you use daily, from social media to your favorite news site, wants a piece of your private information. XMR is an excellent hedge against that regarding financial transactions.

Strengths in XMR gambling

Along with Zcash (ZEC), Monero (XMR) is the most popular privacy coin. 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 that are untraceable and unhackable. An outside viewer cannot 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 fast compared to Bitcoin's 15+ 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. Monero has among the cheapest transaction fees around in plain English, making XMR gambling ideal.

✔ Fully secure

With ring signatures, XMR fully masks every transaction, making it invisible and untraceable to potential evildoers. You will struggle to find any cryptocurrency that is more secure than Monero. This is a significant advantage over cryptos operating on a public blockchain like Stellar. In other words, transactions on an XLM gambling site might not be as secure as on XMR bookies.

✔ Monero coins are fungible

Another unique feature of XMR is fungibility. Simply put, 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, it is impossible to trace its movements. You can rest assured that no one can track your gains back to the Monero gambling sites.

✔ No geographic restrictions

That is true for most cryptocurrencies. Due to their decentralized nature, they are not restricted to one country. This means you can use Monero to place a bet from anywhere. 

✔ Under-the-radar betting

All the above nifty features finally enable you to practice under-the-radar betting. By using XMR, which is untraceable, unbound by regions and 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 about your betting activity.

✔ Already too big to fail

Monero has been a pioneer in the field of privacy cryptocurrencies. It was the first coin to address this critical issue when tracking financial activity. The significance of privacy is also one of the many reasons XMR is a top cryptocurrency with a promising future. Privacy issues will not go away soon, and Monero offers a solution to this problem.

✔ Deposits will never be rejected

Another great thing about cryptocurrencies is that each operates through its 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 deposit, it will go through. There is no way to dispute the transparency of the blockchain, even with Monero’s untraceable technology, which requires an extra step for this proof.

✔ Low minimums, high maximums

Monero betting sites allow significantly lower minimum deposit amounts and usually have no withdrawal limits. This enables you to wager with whatever low amount of money you wish, a much-welcome feature that 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 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 adopting 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 more 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 drug and weapons trafficking. Understandably, this raises suspicions by the authorities. This resulted in a wide ban on XMR in China in 2020, and then it got delisted from exchanges, affecting its price. As you can imagine, this is not very encouraging for the future of Monero bookmakers.

❌ Not easily accepted

Another discouraging fact is that 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 our list for the most trusted options.

❌ Price is volatile

Like all cryptocurrencies, Monero's price is inherently volatile, even without the dangers of regulation. You should strongly consider that, especially when using a Monero betting site that does not convert your cryptocurrency to conventional fiat currency. That leaves your bankroll vulnerable to price swings that may diminish your returns.

❌ In case of a 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. With Monero, you do not even have this chance at all. In case of theft or mistake, you lose your funds forever.

❌ When it comes to withdrawals, you are not anonymous

When you gamble at a licensed bookmaker, the tricky thing is that you will almost always 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, you lose it when 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 in handy in live betting, for instance. However, it has been reported that processing times are very sluggish and experience delays nowadays as Monero has grown in size and users. Therefore, it is completely natural to seek alternatives that accept transactions within minutes, such as Ethereum bookmakers.

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 chat and email customer service, and many games available in major markets. There are also considerations about law and taxes.

☝ XMR betting and legislation

Cryptocurrencies are legal in most countries. Regarding crypto gambling, it is a bit vague but depends on age and gambling laws in your region. Legislation should be factored in when you play at a trusted bookie with an offshore license, with the exception of a few countries.

☝ Do I pay taxes using a Monero betting site

Taxation, too, is uncertain, but for now, you are safe if you approach it as any potential taxation coming from gambling winnings. Additionally, remember 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 Sports 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 possible in cryptocurrency transactions. Monero betting has been an option in gambling sites for some time now, especially in casinos.

However, it suffers criticism for its ties to the darknet and underworld. This does not change that it is a top-50 coin and will not be going anywhere soon because privacy is an important issue. We hope to see it become more common as a deposit/withdrawal option in 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 an outside viewer.

You can only see that a transaction has occurred, but you can not even know the amount of XMR or the date and time it transpired. The use of Ring signatures achieves this. To put it roughly, ring signatures group transactions with others in a certain way that you can not know which one you are looking for.

XMR’s fungibility also aids 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: each bill's unique serial number. 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 link to each other. Ultimately, all the above features offer unparalleled security and privacy. Plus, in contrast to the Bitcoin or Ethereum network, you can not analyze any movements on the XMR chain and 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 when dealing with Monero scams. We recommend large exchanges such as Binance and Coinbase. That way, liquidity and reliability will never be an issue. Then, follow these simple steps:

• 1
  Register for an account. You may not need KYC verification if you trade up to a certain amount.
• 2
  Deposit your fiat money (euro, pounds, dollars).
• 3
  Buy some XMR, then transfer it to your digital wallet.
• 4
  Pick the Monero betting site that fits your preference and sign up for an account; sometimes, you only need an email address.
• 5
  Go to deposits and select XMR. Copy the unique address generated there. Always triple-check the address you use to deposit crypto at a Monero sportsbook.
• 6
  Go back to your wallet and paste the above address. Confirm.
• 7
  That’s it. Within minutes, your bankroll is ready, and you can place any bet you like. Enjoy.

How to Withdraw from XMR betting sites

The withdrawal process is pretty straightforward. However, 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.

• 1
  While signed in, go to withdrawals.
• 2
  Using the same process as deposits but in reverse, send your gains back to your wallet.
• 3
  You can now store your XMR or go to a trusted exchange and trade it for crypto or 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 because of its stealthy nature, low fees, and great speed. When looking for crypto casinos, it is best to filter them by checking out those that have been around for many years, have a good reputation, have fantastic bonuses, and offer many games.

Another unique feature to favor is provably fair games and top-notch 24/7 customer support. Gaming options usually include Slots with free spins, Roulette, Blackjack, Dice, Poker, and 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 for an excellent gambling option.

Even though many of the best crypto bookmakers still do not widely accept XMR as a payment method, Monero Betting sites raise the bar, making betting under complete privacy and anonymity possible. Being also a top 50 cryptocurrency, XMR is in it for the long ride.