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Litecoin Adopted by Online Gaming Industry to Avoid HUGE ↑ BTC Fees

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The PaiWangLuo Network has long been a leader in the crypto-currency online gaming space with its member sites having added Bitcoin (BTC) and Bitcoin Cash (BCH) to their cashiers years ago. On March 16, 2021, they expanded upon this crypto compatibility by adopting Litecoin (LTC) for both deposits and withdrawals. The brands affected include Ignition Casino, Bovada, Cafe Casino, Slots.lv, Bodog.com, Bodog.eu, and Joe Fortune.

Not only are these poker rooms, casinos, and sportsbooks accepting Litecoin, but they're also extending all existing Bitcoin bonuses to litecoiners as welll.

Litecoin Accepted at PWL

Why Use Litecoin?

Why Questions

Given that all the aforementioned internet gambling parlors already accepted Bitcoin and Bitcoin Cash, some question the need for Litecoin to be added to the menu. The truth is that Litecoin offers certain advantages that these other cryptos don't.

Perhaps the most noteworthy benefit to using Litecoin over legacy Bitcoin lies in the fees needed to send coins. Now, there's no technical requirement to send any fee at all with your transaction, but the miners who actually process blocks generally work their way through any backlog from highest fees to lowest. Thus, transactions broadcast with fees set significantly lower than average may take a while – in some cases days – to confirm.

We can see the differences between the two digital coins in this respect by examining a graph of the average fee per transaction (in USD) of Bitcoin and Litecoin:

Transaction Fees: Bitcoin vs. Litecoin

It's clear that Litecoin, with its fees of a couple of pennies, is much more affordable than Bitcoin, which has fees that have climbed up past the $10/txn mark over the past few months.

Bitcoin Cash also has low fees, in many cases even below Litecoin's fees, but this is where another of Litecoin's advantages comes into play. It takes much less time for transactions to be confirmed with LTC. Check out this chart of average block times for both Litecoin and Bitcoin Cash:

Average Block Time: Bitcoin Cash vs Litecoin

Litecoin is therefore faster and cheaper than both old-school Bitcoin and its descendant Bitcoin Cash (BTC has block times about on par with BCH). By expanding the range of payment options to include Litecoin, the PaiWangLuo family of companies is thereby extending these dual benefits to their customers.

Ignition Litecoin

Litecoin in Ignition's Cashier

A U.S.- and Australia-focused site, Ignition Casino operates both a poker room and an online casino. Now that Litecoin has been added to the cashier, residents of the Land of the Free and the Land Down Under both have a convenient and inexpensive way to make transactions for online gaming at Ignition.

Bovada Litecoin

Bovada Cashier Including Litecoin

Bovada is a four-in-one gambling site (poker, casino, sports, horses) that devotes itself exclusively to the American market. With the addition of Litecoin to its transaction options, Bovada is making it easy for its customers to fund their accounts, bet online, and retrieve their winnings without paying too much in fees.

Cafe Casino Litecoin

Cashier of Cafe Casino With LTC

Exclusively an online casino without any sports or poker products, Cafe Casino is meant only for customers in the United States. Featuring lucrative signup and reload bonuses, Cafe now makes it a breeze for its users to derive full value from its promotions because low Litecoin fees mean that players will be able to retain more of their winnings.

Slots.lv Litecoin

Litecoin Deposit at Slots.lv

Slots.lv transacts in the United States and Canada with individuals who appreciate its full casino gaming lineup. With the addition of Litecoin both as a deposit and withdrawal method, Slots.lv is catering to those who want to move their money around speedily without paying a fortune for the privilege.

Bodog.eu Litecoin

Litecoin at Bodog.eu

Bodog is a well-known name in the history of online gambling, and its .eu namesake carries on its fine tradition of sportsbook, casino, and poker within the Canadian market. Now that Litecoin is available to all customers they have an inexpensive mechanism for funding their accounts and receiving no-nonsense payouts.

Bodog.com Litecoin

Bodog.com Litecoin Cashier

Bodog's South American and Latin American division serves a clientele that has historically been at the mercy of high inflation and other financial woes. Now that its sports bettors, poker sharks, and casino enthusiasts have recourse to the reliable Litecoin crypto-currency, they have an alternative store of value that's easy-to-use and outside the control of any single government.

Joe Fortune Litecoin

Withdrawing Litecoin at Joe Fortune

Joe Fortune is one of the few reputable online casinos that Aussies are still able to play at. Tightening banking regulations mean that it's increasingly difficult to fund internet gaming accounts, but Litecoin support indicates that Joe Fortune is prepared to stay the course while providing its customers with innovative fintech solutions, like LTC with its fast transactions and reasonable fees.

How Can I Make a Litecoin Deposit?

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The process of depositing Litecoin on any one of these brands is straightforward. For illustrative purposes, we have elected to proceed with a trial deposit on Bovada.lv: one of the larger sites on the PWL network. The procedure should be more or less the same at any of its sister sites although the arrangement of various text and graphical elements might vary slightly.

First, log in to the Bovada website. Then click toward the top-right of the page where your balance is shown.

Bovada WebsiteThe Familiar Bovada Website

This will bring up a menu from which you can select “Deposit.”

Bovada MenuMenu on the Bovada Website

Now you will see the list of deposit options available to you. You should see “Litecoin.” Click on it.

Bovada Deposit OptionsDeposit Methods

The deposit form will appear, containing an address for you to send your litecoins to. You will also see the exchange rate being used and a time until which this rate will be guaranteed. If you have a bonus code to use, you can enter it here, but you can also proceed without claiming any bonus.

Bovada LTC Deposit FormThe Litecoin Deposit Form at Bovada

Copy-paste the LTC address shown into the sending interface of your Litecoin wallet. If you're using a mobile crypto wallet, you can instead scan the displayed QR Code.

IMPORTANT NOTE: The address shown on this page is meant for Litecoin alone. Make sure you have this crypto-currency selected in your wallet, not Bitcoin or any other digital currency. If you send the wrong type of coins by mistake, you might lose them PERMANENTLY.

You don't need to specify, on Bovada's end, the amount you wish to deposit. As long as the number of coins you send is within the minimum and maximum transaction limits, Bovada will automatically convert them and place the appropriate funds in your real money balance.

After you send your coins, press the red “Done” bar on the bottom of the form.

Before too long, you will see a notice informing you that your deposit was completed and giving you certain information about the transaction. Clicking “Continue” will bring you back to the Bovada home page. You should now see your updated balance in the top-right of the window.

Litecoin Deposit Successful at Bovada

The litecoins you deposit are converted into dollars (or whatever currency your balance is held in). When you withdraw back to your Litecoin wallet, the dollar amount you specify will be transformed back into crypto coins at the then-prevailing exchange rate.

IMPORTANT NOTE: Do not attempt to send litecoins to and from an exchange and a real money gaming site. This is particularly true if you live in the United States, Australia, or another jurisdiction that views online gambling with disfavor. It's sometimes possible to trace funds through the blockchain and determine that specific coins are associated with internet gaming. If this should happen in your case, you might find yourself banned from your exchange. The best practice when depositing is always to send coins from an exchange, to a private wallet that you control, then to the gambling site. For withdrawals, reverse this process.

More About Litecoin

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Litecoin is a crypto-currency that was created in October 2011 by Charlie Lee who was then employed by Google. It's an open-source project that's based on Bitcoin code. Unlike Bitcoin, Litcoin uses the scrypt algorithm for proof-of-work as opposed to SHA-256. Moreover, Litecoin attempts to mine a new block every 2.5 minutes whereas Bitcoin's target block mining interval is 10 minutes.

Initially trading for just a few cents, LTC experienced a bull run in November 2013 when it reached $50 a coin. It soon dropped down, however, to around $1. The next big run-up in price came in 2017. In December of that year, the price of 1 litecoin briefly topped $350 before plunging back down to $25 a year later. Although it has not quite regained its all-time high yet, the Litecoin price has recovered quite nicely and now sits at around $200 on March 16, 2021.

Deposit Litecoin and Play Today

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If you have a stash of LTC that has just been sitting around, then make a deposit at one of the new Litecoin-accepting sites today. You can play poker, dabble in casino games, or bet on sports depending on which operator you choose. Read our reviews to learn more about them:

  • Ignition (Casino and Poker for Americans and Australians)
  • Bovada (Casino, Poker, and Sports for Americans)
  • Cafe Casino (Casino for Americans)
  • Slots.lv (Casino for Americans and Canadians)
  • Bodog (Casino, Poker, and Sports for Canadians and Latin Americans)
  • Joe Fortune (Casino for Australians)

Not to be overlooked, a variety of other online gambling websites have adopted litecoin such as BetOnline and Sportsbetting, the Winning Poker Network, as well as Intertops.

  • Betonline (Casino, Poker, and Sports book, global acceptance)
  • Sportsbetting (Casino, Poker, and Sports book, global acceptance)
  • Intertops (Poker, Sports and Casino for most major countries excluding AU)
  • Americas Cardroom (poker, most major countries excluding AU, France, Spain)
  • Black Chip (poker, most major countries excluding AU, France, Spain)
Photo of Jake Rake

Jake Rake is the head poker writer at ProfessionalRakeback.com.

He eats, sleeps and breathes poker and online gaming. This is a man who reads every online poker forum morning, noon, and night, for the last 17 years, trying to find fun and interesting information to share with our readers.

Jake has become an ardent student of crypto-currency since it was first introduced in the online poker world in 2013 and he thus has eight years experience covering this field!