Gambling Tokens – How Do They Work With Crypto Betting?

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Published: Apr 1, 2022 - Last Updated: Feb 21, 2024

Gambling Crypto Tokens You Need to Get

When it comes to real-life casinos, something that makes them different from each other and something that visitors often take as a souvenir is their gambling tokens, or the term you are probably more familiar with, gambling chips.

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While chips are certainly known for their uniqueness in real life casinos, they certainly feel fun to play around with while you are waiting for the next player to play their turn in a game of poker or if you are anticipating the outcome of a game against the house, online gambling tokens are a bit different.

How do gambling tokens work in a crypto casino?

When you are betting with crypto, there are two ways that gambling tokens are handled by a casino. The most common way with real crypto gambling is that the gambling tokens are the crypto coins themselves, especially when it comes to decentralized crypto casinos. This way, you can make a deposit with your crypto and use it immediately to make bets on various sports and esports, and you can gamble in various casino games.

When gambling tokens are represented by the crypto you deposited, it is very important to keep in mind the value of the crypto you are betting with. If you are using Bitcoin, for example, it is quite easy to lose track of how much it is worth, especially if you are on tilt, and if you decide to bet a couple of Bitcoin, forgetting that you are not using chips and you end up betting thousands of dollars. This way can often feel a bit boring, as you are betting decimals, even if you would with big.

The other way, which is used by some of the best crypto betting sites, is to convert the deposited crypto into the traditional chips whenever you decide to buy in for a table. For example, some casinos will turn a fraction of your Bitcoin that you deposited into thousands of chips, which makes it easier to make those big bets that feel exciting.

Where can you acquire crypto for gambling?

If you are new to crypto and you are wondering where you can acquire Bitcoin, Litecoin, Tron, and many other crypto that are used as gambling tokens in the world of crypto gambling, do not worry; it is quite an easy process. For starters, you will have to make a crypto wallet, which is free, unless you are planning to get a physical one, which is usually about 70$ on Amazon.

Once you get a crypto wallet, you should visit a crypto exchange platform, and there, you will be able to purchase the crypto you desire to make a deposit with on the site where you wish to gamble and use that crypto as gambling tokens.

While crypto exchange platforms are the place where you can get crypto to deposit on your desired site, crypto betting markets are the place where you can find predictions that can help you win while you are betting or gambling.

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What games use gambling tokens?

In the world of betting and gambling, not all games use gambling tokens, as sometimes you would simply just bet a fixed amount, as you would bet on sports or esports. So, if you visit a crypto casino to do some Bitcoin gambling and use it as a gambling token, you would be able to participate in all the games that allow that.

Slot machines are the most popular type of game available at most crypto casinos; in some cases, there are thousands of variants. Of course, they all operate on the same principle, which is to put in a certain number of gambling tokens, and the result on the slot machine is going to multiply the inserted number if you manage to get a winning combination.

Card games such as poker, blackjack, baccarat allow the use of gambling tokens as a part of your strategy, as you will mostly play against other players when it comes to crypto gambling. Roulette and scraps are a game where you can also use gambling tokens to spread them around your bets to increase your odds of winning.

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Frequently Asked Questions

What are gambling tokens?

When it comes to term gambling, tokens are usually referred to as chips or the currency used in the casino for gambling. In crypto gambling, sites have tables where some crypto is converted into gambling tokens, while some will use the crypto as the gambling tokens in their original value.

Is there special crypto for gambling?

It really depends on the site you decide to do crypto gambling. Most sites will accept Bitcoin as their only crypto, but then there are sites that will accept various crypto not only as their deposit but they will use as their gambling tokens as well (which can sometimes be a bit confusing).
Andrew Boggs

Since: September 11, 2020

Andrew is a Northern Ireland based journalist with a passion for video games. His latest hobby is watching people speedrun Super Mario 64 and realising how bad he is at platformers.

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