Solana betting sites key takeaways
- The Solana blockchain is faster and cheaper than Ethereum and Litecoin.
- It is the most environmentally friendly cryptocurrency thanks to the “proof of history” method.
- Solana is backed by high-profile exchanges and available on most wallets.
- You can bet anonymously and more securely when using SOL.
- The future of Solana is looking very bright.
Introduction to Solana (SOL) Betting
While there is still apprehension among some in the online gambling community, crypto betting sites in 2023 are thriving. More and more people are turning to currencies like Bitcoin, Ethereum and Litecoin to bet on sports and play casino games online.
In general, cryptocurrencies offer online gamblers a number of benefits, including increased online security and total anonymity. Moreover, crypto withdrawals are faster and players also get access to exclusive crypto gambling games such as Dice and Crash.
Bitcoin, Ethereum and Litecoin might be the more established options for crypto bettors online. However, since launching, SOL has turned a lot of heads and its popularity is rapidly increasing in the world of online betting.
A brief history of SOL
Having launched in 2020, Solar is a relatively new cryptocurrency when compared to those mentioned above. However, rather than being just another imitator, SOL is arguably the next step in the evolution of cryptocurrencies. In order to fully understand its benefits, we first need to look at the evolutionary steps taken by other popular coins and blockchains.
Combating the problems of early cryptos
The problem with Bitcoin was that the “proof of work” method that it uses is laborious, slow and uses a lot of energy – making it hard-hitting on the environment. Litecoin overcame some of these issues, by effectively using the same blockchain, but making it faster, more efficient and less costly – but it still had the same energy-consuming issues brought about by the mining process.
Ethereum combatted the energy consumption issue by switching to a “proof of stake” system, which uses around 0.01% of the energy. However, Ethereum’s method and blockchain encountered problems with scalability, and this is the issue that Solar’s founder, Konstantin Anissimov, sought to tackle.
By using a mixture of Ethereum’s “proof of stake” model, and a newly developed “proof of history” method, the Solar blockchain is more secure and more scalable than any of its predecessors. Moreover, it also has the potential to be faster and cheaper than most other cryptocurrencies.
Benefits of Solana gambling sites
As is the case with all forms of crypto betting, gambling with SOL provides you with anonymity, security and transaction speeds that no fiat currency payment provider can match. If you want to keep your data away from online hackers and gambling payments off of your bank statement, then crypto sports betting apps and casinos are the way to go.
Additionally, Solana casinos also bring their own special benefits. As explained before, SOL is even faster and more secure than the likes of Ethereum and Litecoin. Furthermore, the Solana blockchain is the most environmentally friendly one there is.
It uses a fraction of the energy that the Ethereum blockchain does – and it is already 99.9% more energy-efficient than Bitcoin and other first-wave blockchains.
Pros and Cons of SOL betting sites
- Faster than ETH
- More secure than other cryptos
- Anonymous transactions
- Quick cashouts
- Environmentally friendly
- Low fees
- Less widely accepted
- Price volatility
How we ranked the best Solana gambling operators
One of the biggest problems that you might face when it comes to SOL gambling is finding an operator that accepts the coin. Compared to some other cryptocurrencies, it is relatively new on the scene and not as well established. As a result, it is not as widely available on betting sites as the likes of Bitcoin, Ethereum and even Dogecoin.
That being said, it is rapidly growing in popularity, and more and more operators are realising its potential. However, on top of that, you need to find a legit and reputable Solar gambling operator, which is where we come in. On our site, you can find rankings of the best crypto casinos, complete with detailed reviews.
Our review criteria for betting sites
For each and every sportsbook and online casino that we review, we focus on a number of different categories to come up with our final ratings. These categories are as follows:
- Bonuses - Crypto casinos offer better and bigger bonuses than fiat currency operators, and we test out each offer on the site and study the T&Cs to determine the true value of each offer.
- Usability - The most important tool when it comes to online betting is the platform itself. We test it out to make sure that it is user-friendly and easy to navigate.
- Mobile - These days, the vast majority of us bet and play casino games on our phones. Therefore a mobile-optimised website and/or app is a must.
- Payments - We test the payment process and look out for unwanted extras such as hidden fees. More crucially in this case, we first check to see if SOL is an accepted currency.
- Customer service - Even when using the best websites, things can go wrong, and if they do, it’s important to make sure that you are in good hands. That’s why a big part of our testing process focuses on the customer support that is available on the site.
- Licence and security - First of all, we need to make sure that the operator is licensed and legit. Secondly, we then looked at the additional security measures and technology that are in place, such as SSL encryption.
- Rewards and VIP program - A good website should reward all of its players justly, and crypto casinos often have VIP clubs that are bigger and more rewarding than most. We will always tell you exactly what is on offer and how attainable it is.
As we touched upon above, it's not merely about finding a legit and safe Solana betting site – you also want to find one that has everything that you want. That’s why, as well as looking at our overall rankings, we also recommend that you take a closer look at our reviews.
Everyone has different preferences when it comes to online gambling, and so our aim is to help you to find your ideal operator. We therefore recommend that you ask yourself some questions before making use of our comparison tool here at Strafe.
For example, what exactly interests you the most? Are you looking more for provably fair casino games? Or do you want to bet on a niche range of esports? Perhaps you are looking for something a bit more modern, and want to find the best NFT casinos in 2023. Whatever you are looking for, we are confident that our team of crypto gambling experts can help you to find it.
Guide to gambling with Solana
Effectively there are four steps of the journey when it comes to Solana betting online, and we have put together this guide to help you every step of the way.
While it is one of the more exciting and potentially best cryptocurrencies for online gambling, we wouldn’t yet say that SOL is for beginners. Even if you already have experience in purchasing and using other cryptos, we recommend doing a little bit more research in order to fully determine if Solana is the coin for you when it comes to online gambling.
As we said before, SOL isn’t the best option for new crypto gamblers. Therefore, if you are considering using SOL, you most likely already have an e-wallet. Therefore, the next step is just to purchase some SOL. You will be able to find it in the vast majority of crypto exchanges.
Open your Solana gambling account
Once you have found your ideal site using our reviews here at Strafe, you just need to open an account. We have put together a more detailed guide to opening your SOL casino or sportsbook account below.
Now that your account is open, you can start playing casino games and or betting on your favourite sports and esports. Then, of course, if you are lucky enough to win, you can withdraw your winnings. Once again, we have put together a more detailed guide below about how to withdraw your winnings in SOL.
Our favorite sport betting sites
How can I start to play at Solana bookmakers/casinos?
As promised, here is a complete step-by-step guide to finding your ideal Solana betting sites and opening an account.
Step 1: Choose a legit site
First and foremost, you need to choose a legit operator, and to do that, we recommend consulting the experts. On this page, you can find our operator rankings and you can directly access our reviews of the best sites that accept SOL for gambling.
Step 2: Create an account and get verified
Once you have found your ideal operator, you just need to open an account on the site by completing the form. This process usually takes just seconds on a crypto gambling website, as fewer details are required. Once you have completed the registration form, you will usually need to verify your account using the email link.
Step 3: Buy SOL from crypto exchanges
If you don’t already own some SOL, then you will need to purchase some and store it in your crypto wallet. As we said before, SOL is available on most major crypto exchanges, including Coinbase, Binance and FTX.
Step 4: Transfer funds to your account
You can now make a deposit into your Solana gambling account quickly, easily and with very low fees. To fund your account, go to the “Wallet” or “Cashier” section of the site when signed in. You can then click on the “Deposit” amount, select “SOL” from the list of currencies and enter the amount that you wish to deposit. You can then make the instant payment by using the link or QR code provided.
Step 5: Start betting and playing
Now that all of the previous steps have been completed, your Solana betting journey can begin in earnest. You should now have access to sports and esports betting markets with more valuable odds, as well as provably fair casino games and more. And of course, if and when you are lucky enough to win, you will need to withdraw your winnings – a guide to which can be found directly below.
How to withdraw funds from Solana gambling websites?
One of the benefits of SOL is that its more efficient blockchain means that you can benefit from faster withdrawals with lower fees. While most crypto gambling sites state that withdrawals take up to 24 hours, they should almost always be quicker when using Solana.
You can withdraw your SOL funds as follows:
- Head to the “Withdrawal” page in the “Wallet” or “Cashier” section of your betting account.
- Select SOL from the list of withdrawal options – this will usually be presented in the form of a dropdown menu.
- Enter the amount that you wish to withdraw – most sites offer you the choice between entering the amount in SOL directly, or entering it in fiat (e.g. USD) and they will convert it automatically.
- Enter the address of the crypto wallet to where you wish to receive the funds.
- Verify the payment on your wallet if required.
- That’s it – you should now receive your SOL funds within a matter of minutes or hours.
Future of Solana gambling
We’re not going to make any promises or concrete predictions here, as the future is always uncertain – especially when it comes to cryptocurrencies. However, we and many other experts are optimistic about the future of Solana’s role in the world of online gambling.
As we explained earlier in the article, the Solana blockchain uses an innovative and more scalable method than its predecessors. In the past, such technological blockchain evolutions have proven to be landmark moments – and the coins attached to these evolutionary blockchains remain strong to this day.
Litecoin provided a faster version of Bitcoin before Ethereum topped this by creating a whole new blockchain that was faster, cheaper and more energy efficient. Given that Solana has effectively done to Ethereum what Ethereum did to Bitcoin and Litecoin, we can only see it getting stronger.
Strafe verdict on Solana betting
Gambling with Solana offers you a number of benefits that on the whole far outweigh the cons. Not only is SOL faster, more secure and more scalable than Ethereum and other blockchains, it is also more energy efficient and environmentally friendly. Moreover, you still have all of the other benefits that come with crypto gambling in general, such as privacy and anonymity.
The main setbacks right now are that it is less well established than the likes of Bitcoin and Ethereum, and as a result its price is more susceptible to volatility. That’s why we wouldn’t recommend it to beginner crypto gamblers at the moment. However, if you have some experience with crypto gambling, then Solana gambling is definitely worth trying out.
Our favorite sportsbook bonuses
Solana betting FAQ
⏳ How long do Solana deposits & withdrawals take?
Everything that you need to know about Solana online betting payments and how they work can be found in this article. From processing times to fees and more – it’s all been covered. Additionally, you can check out the best Solana sportsbooks and read our expert reviews to find your ideal operator.
🎰 How do Solana betting sites work?
Solana online betting operators work in a similar way to most other crypto gaming sites. If you want to discover more, including step-by-step guides to getting started, then check out this complete review of SOL online betting here at Strafe.com. All of the information on our site has been provided by experts and is regularly updated.
❓ Is it legal to gamble with SOL?
The answer to this question is quite complex and varies depending on the region that you are gambling from and the site that you want to use. That’s why we always recommend that you consult the experts for a trustworthy and informed answer. Fortunately, the guide to betting with Solana at Strafe.com contains simple but detailed explanations from crypto gambling experts.
