The growth of Ripple gambling continues to make up ground as more casinos and software providers add XRP to their list of accepted cryptos.
Ripple’s rising popualirity is the answer to increasing demand for highly efficient crypto transactions at online casinos. Just like all tech-based industries, crypocurrency casinos also fall into technology’s common sequence of events.
- New tech hits the global markets (in this case cryptos)
- Mass adoption of successful technolgy takes place
- Demand for faster and cheaper ways of using that tech rises
Today online casinos are generally open to the idea of introducing new cryptocurrencies. If the crypto is popular, easy to process, transaction times are reasonable, and a decent number of software providers include support for the crypto on their games, then it is worth considering.
XRP is one of those cryptos and as of late a large number of software providers are including support for Ripple’s altcoin because its attractive features give this crypto the potential to become a rising star on the cryptourrency gambling scene.
The 2 key features of Ripple Gambling include:
- Fees so low players will hardly notice them
- Transactions that take just a few seconds to process
In this review, we are going to point out why Ripple gambling is a solid option versus fiat currency casinos, and we will also look into how Ripple squares up against its rival cryptos.
What are XRP and Ripple?
Ripple and XRP are often confusing titles because each term is used interangably. Yet, each of these titles refer to two different aspects of the Ripple brand.
First, Ripple is a privately funded company. Although, the firm’s bigwigs make no secret of plans to go public as an IPO (Initial Public Offering). Just for the record, Ripple is not an ICO (Initial Coin Offering). Also, when people refer to Ripple, they usually mean Ripple’s platform/software.
Second, XRP is the cryptocurrency used on Ripple platforms that require crypto transactions. It is a centralised cryptocurrency, and unlike many other cryptos, there is no mining as only trusted nodes can operate on any given Ripple ecosystem.
- Ripple is a privately invested company that plans to go public
- XRP uses Ripple blockchain ecosystems to operate as a crypto
Just because a system is dubbed a Ripple platform does not mean it uses XRP. Take for example MoneyTap in Japan. This is a Ripple designed blockchain tech banking system, but it uses Yen as the in-platform currency, while you could also look at Money Gram which uses Ripple’s XRP-powered payment system known as xRapid designed by Ripple Labs.
It is developments like MoneyTap and xRapid that enable Ripple to grow as a company, and in turn projects that make use of XRP like xRapid that affect the value of XRP. As much of XRP’s success hinges on these numerous crypto projects, keeping up with the ins and outs of XRP’s crypto specific activities takes knowledge and research which equates to a lot of time!
As you can imagine, for a newbie investor or for an experienced investor with little time on his or her hands, the Ripple and XRP saga is usually confusing and time-consuming. This is as opposed to investing in other cryptos that are easier to follow which is usually the route most investors take when they realise just how much work is involved with following Ripple and XRP!
Just for this article, we will use the terms Ripple and XRP interchangeably, but just for reference, when we do this we are always referring to XRP because this is the cryptocurrency you will be gambling with unless we specifically mention Ripple as a platform!
Why Is Ripple Gambling Suddenly Becoming Popular?
Now you must bear in mind that the popularity of cryptocurrency gambling only began half a decade ago. Therefore, to begin with, cryptocurrency casinos originally decided to introduce the most popular, better understood, and easiest to implement cryptos that came with plenty of games that support those cryptos.
This introductory process was always the best way to test the success of different digital currencies as an acceptable deposit and withdrawal method.
To test the waters, the idea was to firstly bring in the big gun – BTC. The next step was to introduce ETH, BCH, LTC, USDT, and DOGE. After the continued success of these cryptos, more complex cryptos like XRP came onto the cryptocurrency casino scene.
Today, there are numerous XRP casinos out there, but much fewer than you would expect. This is surprising because if you look at XRP and its makeup, it begs the question as to why gambling sites that offer BTC or ETH are not also accepting XRP.
XRP transactions are super fast and dirt cheap, it is also the second most popular crypto according to Investopedia, while it has one of the largest market caps out more than 4,000 cryptocurrencies.
The reaason – because only a few game developers supported XRP in the past, so there were only 100 to 200 XRP ready games. As such, most casino ignored it. However, today numerous software providers are including XRP support on their games.
As a result, there are now over 1,000 XRP ready casino games. These are popular slot titles, progressive jackpot slots, and live casino games that once had no XRP option. Now companies like Evolution and Pragmatic Play are building in XRP into their games this new trend is paving the way for Ripple gambling.
- XRP commands a top 5 market cap
- Second most popular crypto
- Fastest transaction times compared to other cryptos
- More software providers incude XRP support
- Over 1,000 popular XRP ready online casino titles
Does XRP Gambling Offer the Same Experience as Other Cryptos?
If an online casino is going to accept crypto as a payment method, then players should also expect to place bets, win, and keep a casino account balance using the same crypto. Below we break down exactly what kind of Ripple gambling experience you can expect from an XRP casino.
Games with The Same Winning Chance as Fiat and Other Cryptos
Whether you like playing online slots, virtual table games, video poker, or live casino tables, casinos that accept Ripple (XRP) will offer games with the same house edge, RTP, features, and gameplay as the fiat, BTC, or any other crypto version of the game. The only difference as far as placing bets is that you are betting using XRP.
Find the Same Popular Software Providers and Game Titles
You can play well-known live table games, virtual table games, and video slot games such as Evolution’s Lightning Roulette with 1,000x multipliers, BetSoft Gaming’s popular Back to Venus slot title, and Zoom Roulette table in a casino that accepts XRP.
Ripple Uses the Provably Fair Algorithm
If you are a fan of the provably fair algorithm, then good news. XRP is a crypto and as such the results of every hand, dice roll, reel spin, or spin of the wheel on casino games that accept this crypto are all verifiable. On top of this, with XRP’s super fast transactions times, rather than sending a hash with results pre-prepared, XRP can send results per hand or spin on the roulette wheel or slots.
Making XRP Payments, Withdrawals and Keeping an XRP Casino Balance
Your payment methods tab should have a facility to accept Ripple (XRP). An XRP deposit or withdrawal is the same as any other crypto transaction. Go to your ‘cashier’, ‘payment’, or ‘banking’ area, and deposit/withdraw from/to a crypto XRP wallet. Casinos that accept Ripple will process your transaction in a matter of seconds which leads us on to the pros and cons of Ripple gambling.
Here is a list of what to expect from your Ripple casino and games:
- XRP games offer the same house edge or RTP as other cryptos/fiat games
- All game features and rules are the same as other cryptos/fiat games
- The same user-friendly casino account management experience
- Deposits/withdrawals using a Ripple wallet
- You will keep an XRP balance, bets using XRP, and winning bets pay XRP
What Are the Pros and Cons of Online Gambling With XRP?
Weighing up XRP versus other cryptos means looking at the pros and cons. A key advantage Ripple ecosystems have over other crypto platforms is its speed, anonymity, and low fees.
Pros of Ripple Gambling
Instant Transactions: Although most people assume crypto payments are instant, most take time to process. Each ecosystem is different in terms of transaction processing time. BTC is around 10 minutes while Ripple takes just 3 to 4 seconds. This completely changes the way casinos can use the Provably Fair algorithm for their games.
Anonymous Transactions: Ripple is seen as a centralised ecosystem and therefor XRP falls under this hood. That said its transactions are still anonymous which for many crypto casino players is an important part of betting using cryptos. (We’ll cover the downfalls of this in the ‘Cons’ section.
Low Fees: XRP transaction fees are some of the lowest on the market compared to other cryptos which is a big reason many online casinos and gamblers are adopting this crypto for casino gaming. Fees are often as low as 0.00001 XRP per transaction which is nothing!
Low Fiat Exchange Rate: Quite a few crypto gamblers like to cash in and cash out per session. Low fees are just one advantage XRP has over other cryptos while on top of this its pairings with fiats are usually quite attractive too. This is because Ripple is connected to banks all over the world making it easy for currency exchange to almost any fiat.
Low Crypto Exchange Rate: You can send using XRP to someone that needs to receive payment in BTC for example. This is a BTC bridge that negates the need to purchase BTC if that’s what the receiver wants to be paid in. Therefore, you send XRP and the receiver get Bitcoins. This also means that if your casino also accepts BTC, you could decide to play casino games using BTC!
Cons of Ripple Gambling
Centralised Crypto: If decentralised crypto gambling is important to you, then Ripple will not cut it. One concern is that if a government authority pushed for Ripple to open its system for investigations, it would not be difficult to review a Ripple ecosystem’s centralised ledger.
Low Number of Ripple Casinos: Although we have been talking about the rise in popularity of Ripple casinos, there are not that many out there. More are coming for sure, and even here at mBitcasino, we plan to introduce Ripple.
Why Do People and Businesses use XRP or Ripple Over BTC or ETH?
Looking at the pros of XRP, you can see that there are low transaction fees and instant deposits. Rather than waiting 10 or more minutes for a BTC transaction to process on the Bitcoin ecosystem, Ripple gambling deposits are instant. Simply log on, deposit, and away you go!
Casino sites that already accept cryptocurrency payments have plenty of other incentives to add XRP as a payment method. Top software providers are now configuring their games to accept bets using XRP which means top titles found at traditional gambling sites will also be available for those that want to fund their casino account using a Ripple wallet.
Of course, not every aspect of Ripple gambling is perfect. With all the advantages comes one that some crypto gamblers may be put off by, and that is the decentralised nature of Ripple ecosystems that use XRP.
Although transactions are wholly anonymous, if a government agency pushed hard to gain access to a Ripple ecosystem using XRP for gambling purposes, those that reply on the anonymity of decentralised cryptos do not have the same luxury when gambling using Ripple.
Ripple (XRP) Coming To mBitcasino Soon
As a final note, keep your eyes peeled on mBitcasino because XRP is about to come to the casino adding one of the world’s most popular cryptos to its gaming collection. We can do this because many of the software providers found in the mBitcasino casino games area configure their slots and table games to accept XRP bets.