Changing Deposit Trends on Crypto Casinos in Q3 2024

There has been several new crypto casino deposit trends in the second and especially the third quarter of 2024. Here, Crypto Lists brings up some of the most significant changes in from the beginning to the end of the summer.

Everyone that works with cryptocurrencies probably noticed a significant downturn in the beginning of the second quarter, 2024. That led to more stablecoin deposits in April, May, June and August.

However, in July 2024 – the crypto market actually turned around and the deposit trends changed once again. In July 2024, Crypto Lists notice once again that Bitcoin is the king of the hill and the most used cryptocurrency on the toplisted casino sites. However, this trend quickly changed in July and August, with an increasing amount of stablecoin deposits.

Volatility and future outlook reflect deposit trends

Cryptocurrencies that been trending recently and those with the weakest outlook for the coming months are often used frequently. One example with kind of weak outlook include XRP that some analysts predict have a bit of downside the coming months.

When cryptocurrencies that’s not so common for casino deposits such as Solana (SOL) (down 22% the last 2 weeks), Dogecoin (-19.2%) and Tron (TRON) (down 6.6% the last 14 days) – many potential players exchange their holdings into stablecoins. It should be noted that BNB deposits into crypto casinos has also risen on some sites lately, and while BNB is down 12.7% for the last two weeks – it was also overtaken by SOL for less than 24 hours.

Risk warning: The ongoing conflict in Ukraine and Russia, in combination with the potential response from Iran against Israel could strongly affect crypto prices the coming week, says Markus Jalmerot, co-founder of Crypto Lists. He further expect that stablecoin deposits will exceed that of Litecoin deposits in the coming 6 months.

Note: Currently, there are 510+ reviewed Bitcoin casinos on CryptoLists, while Ethereum comes 2nd with 471 casinos and Litecoin casinos comes third with 451 sites. First at 4th place comes Tether casinos with 445 reviewed sites. However, when it USDC casinos, there are only 179 accepting that when writing this article.

People exchange for stablecoins during volatility

Crypto Lists theory about the cryptocurrency gambling market is rather simple. When a specific crypto goes down a specific month, such as Bitcoin (BTC), holders might exchange it into a stablecoin such as Tether (USDT) or USD Coin (USDC).

Holders tend to put part of their holdings into stablecoins during periods of high volatility – like this and previous weeks. Below are a couple of preferred stablecoin casinos and we also list which other cryptos that are being used on deposits on those sites.

Betpanda: Stablecoin on 5 crypto networks

Betpanda (learn more) is one of the highly popular stablecoin casinos. It’s perhaps no surprise that stablecoins are the biggest (and best) deposit option, since BetPanda’s website accept USDT on the Ethereum Network (ERC-20), the Tron Network, Polygon, The Open Network (TON) and the Binance Smart Chain. It’s only the Solana network that’s missing for Tether transfers on Betpanda right now, but it’s better than at least 99% of all other crypto casinos.

A similar acceptance is also true for USDC (USD Coin), where Ethereum, Tron, Polygon, Bridged Polygon and Binance Smart Chain can be used. For BTC deposits, Betpanda support both regular Bitcoin on-chain transactions and through the instant Bitcoin Lightning Network. Visit BetPanda Casino today and see which deposit method that suits you best.

During the entire summer, USDT has been the main deposit method on BetPanda. Over 65% of all transactions on BetPenda that Crypto Lists referred are from players that use Tether for deposits into the universal crypto casino. The second most used crypto for deposits into BetPanda this late spring and summer has been Bitcoin (BTC) with 8.4% of all deposits, followed by Ether (ETH) with 7.9%, Tron with 7.3% and XRP with 6.7%. The remaining deposits came mainly from Litecoin (LTC).

BetPlay: More ETH deposits

During both July and August 2024, Ether (ETH) deposits are bigger than both USDT, Dogecoin (DOGE) and Bitcoin. However, it should be noted that the combined stablecoin deposits actually are the bigger than ETH on BetPlay Casino (see review).

Something we really appreciate with BetPlay is their support for multiple crypto networks (aka blockchains). For instance, if you like to deposit with USDT or USDC, you can use 5 different blockchains to complete the task. Like always, it’s crucial that you use the right network when initiating a transfer, otherwise the funds will be lost.

In August so far, 36.7% of the deposits are done in ETH, while 25.5% are initiated in USDT. Since USDC stands for 12.3% of all deposits, stablecoins are the most used method to get started on BetPlay. Other popular deposit options are Dogecoin (18.4% in August, 2024) among CryptoLists customers on BetPlay, BTC (4.6% – many HODL’ers we assume) along with less than 2.5% combined for LTC and XRP.

If you’re looking for a serious crypto casino with a huge range of networks supported and instant payouts, then visit BetPlay now!

Cryptorino: Stablecoin usage increase along with BNB

Cryptorino (see review) offer a wide range of cryptocurrencies that users can deposit with. But what is most popular and are there any deposit trend the last 6 months?

Well, it’s clear that more people just HODL their Bitcoin and even if it used to be the biggest deposit method on crypto casinos, it’s not like that anymore on highly rewarded sites such as Cryptorino. In August 2024, it’s clear that stablecoin usage increased. Tether (USDT) alone stands for almost 65% so far. One reason is obviously that they support many network. Another is simply that Cryptorino is a great site, for everything that consider to play on an anonymous casino.

Another widely used crypto coin in August is BNB. Around 1/4 of the total deposits on Cryptorino (among CryptoLists referrals) use BNB this month. Bitcoin (BNB) stands for less than 6% in August, while LTC deposits equal 3% so far this month.

July (2024) was different though. uBTC (small units of Bitcoin) was the most used deposit method; probably because the most used cryptocurrency was higher valued this month than in August. But Cryptorino is also one of a limited amount of Bitcoin casinos that support the lightning network.

Secondly, LTC was the second most popular in July and stablecoins such as USDT and USDC the third and fourth most popular. In June 2024, LTC followed by USDT and UBTC was the three most used cryptos.

LTC Casino – Less Litecoin usage, more USDT

While LTC Casino (review) might sound like a niche crypto casino site only targeting Litecoin holders, it’s actually way more than that. You can use most of the major cryptocurrencies, such as BTC, ETH, XRP, Dogecoin and Tether (USDT) in additonal to the obvious Litecoin.

People love the No KYC ever policy, that requires that you deposit with crypto but then never ask you for any personal information – not even when you take out winnings. During the last few months, we’ve seen a trend with less Bitcoin deposits and less LTC deposits. Instead, Tether (USDT) is the big winner here. Visit LTC Casino and see the full range of games and tournaments that you can enjoy on this fully anonymous casino site.

What I prefer when playing crypto casinos

My own preferred deposit option is usually what exists in the wallet and which gaming mode I have. If having a bit of BNB that I don’t use, well then it can go into the bankroll for a crypto casino. However, if feeling that I want to bet bigger, then usually the cryptocurrency where I have the biggest bankroll will be used immediately, or converted to a suitable coin or token for transfers.

This could mean a conversion to Litecoin (LTC) for instance, since it’s widely accepted, really cheap for transfers and quite quick (within 1-2 minutes it usually arrives on most casinos we tested). Learn more about crypto in our guide, or check out different crypto networks that can be used.

My own preferred site to play in the last few months has been Cryptorino with an amazing range of games, they don’t ask for KYC, it’s accepted worldwide so I don’t need to use a VPN and they have great bonuses. What more can you ask for?

Fast deposits options on crypto casinos

For really fast transfers, I tend to use one of the following:

+Solana (SOL): One of the fastest transfer methods and also the cheapest, but not available on so many casinos. I expect this to change in the coming year – with wider adoptable for SOL, especially if it becomes the 3rd largest cryptocurrency (before BNB) in 2024 or 2025. See a list of Solana casinos here or try it on my own favorite Solana site, Wall Street Memes Casino.

+Tron (TRON): Over 210 casino sites support the Tron network and the Tron coin for transfers. It’s a very cheap and quick transfer method, so many players obviously appreciate that. See a full list of Tron casino here, or try Cryptorino that’s one of our favourites.

+BTC Lightning Network: An increasing amount of sites start to accept Lightning Network for transfers. Those that only accept “normal” Bitcoin transfers usually have an outdated or one of the very basic crypto payment processors. It’s usually required to have a wallet-to-wallet solution, the so called more direct crypto transfers, in order to accept the Lightning network. My own recommended site for instant Lightning network transfers is called Bet Panda. Visit Bet Panda to learn more and use the Lightning network for quick transfers.

+Litecoin (LTC): A great crypto deposit method is called Litecoin. The perhaps most obvious choice if you like to use this method is called LTC Casino (see review). This site is 100% anonymous and only accept crypto for deposits, but this also means there is no KYC and they can make instant payouts. In case you haven’y tried, visit LTC Casino now and discover an established casino with really quick deposits and withdrawals along with a wide range of games.

+Ethereum (ETH): There are 472 casinos reviewed accepting Ethereum, and this method is obviously a preferred choice for many.

+Tether (USDT): The most accepted stablecoin on gambling sites, Tether (USDT), is widely accepted. While most only accept Tether on the first created network (eg. Ethereum), there are also a few with many additional networks supported such as Betplay (review). See all the 5 networks supported for Tether when you visit Betplay. Currently, there are 445+ casino sites accepting USDT for deposit right now.

Conclusion: Why has the deposit trends changed?

Deposit trends change over time depending on how it goes for certain cryptocurrencies. Higher volatility often leads to more stablecoin usage, while BTC is used the most when the price for Bitcoin is nearer all time higher rather than being down 20-30% from ATH. If it’s down significantly from ATH, people seems to HODL Bitcoin the most and use other cryptocurrencies they have instead – unless they are into a high roller session and tend to have most Bitcoin in their crypto wallet.

Cryptos with a slightly weaker future price expectation and/or those that risen a lot lately are more likely to be used, since players draw the conclusion that there is not so much left right now and the price might go down very soon. Then – it could simply be a more fun and better opportunity to use it on a great crypto casino such as the Scandinavian founded Cryptorino, the fully anonymous LTC Casino or the classy and multiple network friendly casino BetPlay.