Shiba Inu Betting: Looking for a New Way to Gamble on Your Favorite Esports?

Here's Everything You Need to Know About Gambling with Shiba Inu

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Something that a lot of people tend to be confused about is the assumption that the Dogecoin and the Shiba Inu coin are the same, but that is not true. While they both essentially revolve around the same meme, their values are entirely different, which is why they have other options when it comes to crypto betting and gambling.

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What is the Shiba Inu (SHIB) coin?

Launched in August 2020, Shiba Inu is an Ethereum-based cryptocurrency. In April 2022, the coin had a $10 billion market cap and has been among the best-performing cryptos. Attracting over 700,000 investors, Shiba Inu gained a lot of popularity within a short time.

The coin started with a supply of 1 quadrillion out of which the founder Ryoshi locked 50 percent in Uniswap. The other 50 percent was burned through Vitalik Buterin the founder of Ethereum. The burned tokens are still within the ecosystem but cannot be used.

Interestingly, Vitalik then went ahead and donated 50 percent of his coins to India as a Covid-19 relief. He then burned 40 percent of the remaining coins to ensure the stability of the ecosystem.

Shiba Inu uses a decentralized exchange (DEX) with the most popular being UniSwap. Other exchanges such as eToro and Coinbase have also allowed the trade of Shiba Inu on their platforms.

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How is SHIB Different from Doge Coins?

Both SHIB and Dogecoin use the Shiba Inu Japanese hunting dog as their mascot. The two cryptos gained a lot of popularity in 2021 and the early investors became billionaires almost overnight. The two coins started as a meme and most investors bought the coins for the fear of missing out.

Despite the many similarities, there are some notable differences between the two cryptos. Shiba Inu is Ethereum based while Dogecoin is built to function like Bitcoin.

While Dogecoin encourages mining, SHIB is deflationary in nature. SHIB founders occasionally burn tokens so that they dont flood the market as a way to maintain stability.

The Three Variants of Shiba Inu

SHIB has three variants that perform different purposes:

  • SHIB: This is the main coin that acts as the medium of exchange.
  • BONE: There are about 250 million BONE coins that give users the power to vote on major decisions regarding Shiba Inu.
  • LEASH: These are the most limited Shiba Inu coins with only about 107,646 coins in circulation. The coin holders have the powers to stake the coin for validation purposes.

Sports Betting with Shiba Inu

If you are looking to bet on sports by using Shiba Inu, there are quite many options for you. From the most popular sports such as soccer, basketball, chess, horse racing, hockey, golf, and many others, to less popular ones such as kabaddi, cricket, and badminton.

Can you Bet on Esports with Shiba Inu?

When it comes to Shiba Inu gambling on esports, it is a very popular way to make crypto bets, even if it is not the most popular meme coin. You can enjoy Shiba Inu betting with various titles, such as Dota 2, CS: GO, League of Legends, Rainbow Six, Call of Duty, Wild Rift, and many others.

Even if esports are relatively new in crypto betting sites, gambling with Shiba Inu has a lot of wager options with the more notable titles. For example, if you were to bet on League of Legends, there are many wagers to choose from.

You can bet on the winning team, the drake types within the game, if a particular drake will be killed, the minute before the first tower falls, and much more. Some of these also have tremendous odds, even if they are relatively easy to guess if you are familiar with the drafting phase in pro play of this popular MOBA.

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Using SHIB to Bet on Virtual Sports

If you are looking for a combination of sports and esports, then virtual esports Shiba Inu betting is what you are looking for. Here, you will be able to bet on fantasy teams that are either based on real teams or ones that are created by yourself or the AI. These matches cannot be spectated, and the outcome is based on the statistics of the teams and the players within them, similar to those Football Manager games that were popular in the early 2010s.

Casino Games with Shiba Inu

Naturally, the most popular way for someone who has a passion for gambling with Shiba Inu is to enjoy various crypto casino games. There are so many games to choose from when it comes to casino games, so if you are not sure where to start your gambling adventure, you might as well check a crypto betting guide in order to see which games are the easiest to pick up, and the ones that can earn you the most winnings.

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How to Cash Out Your Shiba Inu?

One of the most common questions that people tend to have when they bet and gamble with their Shiba Inu coins is how exactly can they cash out their now increased deposits from all the winnings they have been doing, and the answer to this question is very easy.

All you have to do is go to the cashout page on any of your favorite crypto gambling sites, and you will be asked to put in your crypto wallet address. In case you registered and purchased Shiba Inu on the casino site, where you were also provided a wallet, you should create a new wallet that is separated from the casino. We suggest using BRD, Electrum.org, Ledger Nano S, or Trezor.io.

Do not use Coinbase if you are planning to cash out your Shiba Inu, as Coinbase does not want to be related to any gambling sites, and doing so will make you lose all of that hard-earned Shiba Inu coins. There are a couple of other sites that follow this rule, too, so do your research if you are not using the wallets we suggested.

What are the Best Sites for Betting with Shiba Inu?

With so many sports, esports, and casino games options, it is only natural that various betting sites will accept Shiba Inu as a deposit. Here are some better options you can trust and might want to check out:

1. Stake.com

First off, we have to mention Stake.com, as it is a phenomenal place for Shiba Inu. You can bet on various sports that are being played out live, and if casino games are your forte, there are ones you can play virtually and with live dealers.

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2. BC.Game

When it comes to Shiba Inu betting, BC.Game esports is probably the best place to be, as it offers everything we previously mentioned in the article. You can bet on various sports, esports, and play casino games, and while doing all of this, you will receive a nice bonus and rewards in the process.

3. Cloudbet

If you are looking for a website that has been around for quite some time since 2013, in fact, then Cloudbet is a good place for Shiba Inu betting. Cloudbet offers numerous sports and esports to bet on, and while the casino games are not prominent in numbers, the quality of the available ones is superb.