Best Polkadot Casinos 2023
POLKADOT CASINOS ARE GROWING!
Polkadot is a relatively new blockchain and coin but has quickly risen to hover around the top 10 most valuable cryptocurrencies. With this in mind, it’s perhaps surprising that more crypto casinos aren’t accepting DOT.
We have found a few Polkadot casino options for you to enjoy, though, and we expect more crypto casinos to start facilitating DOT payments throughout 2023. Check out the Gambling Crypt top picks below.
Or read on for our guide to Polkadot casinos.
Polkadot Casinos Top List
Polkadot Casino Gambling Guide
What is Polkadot?
Polkadot functions as an open-source sharded multi-chain protocol. It connects and secures a network of specialized blockchains, allowing cross-chain transfer of any data type, not just coins and tokens. Think of Polkadot as a bridge that connects different blockchains.
Its central mission was to solve the issue of interoperability between competing blockchains. The technology allows different blockchains to work together, with Polkadot serving as a foundation for a decentralized internet of blockchains named Web3. DOT is the native cryptocurrency of Polkadot.
Polkadot is the flagship protocol of the Web3 Foundation, and the three founders have excellent credentials in this world. Dr Gavin Found co-founded Ethereum, created the smart contract language Solidity, and is credited with coining the term Web3.
Other Web3 Foundation co-founders, Robert Habermeier and Peter Czaban, have accomplished backgrounds in blockchain, cryptography, and fintech.
Polkadot has several things that make it unique in the crypto world. Firstly, as mentioned, it’s a sharded multi-chain network that can process transactions across various blockchains in parallel. These are called parachains. This improves scalability and connectivity.
What is Polkadot?
Polkadot functions as an open-source sharded multi-chain protocol. It connects and secures a network of specialized blockchains, allowing cross-chain transfer of any data type, not just coins and tokens. Think of the Polkadot blockchain as a bridge that connects different blockchains.
Its central mission was to solve the issue of interoperability between competing blockchains. The technology allows different blockchains to work together, with Polkadot serving as a foundation for a decentralized internet of blockchains named Web3. DOT is the native cryptocurrency.
Polkadot is the flagship protocol of the Web3 Foundation, and the three founders have excellent credentials in this world. Dr Gavin Wood co-founded Ethereum, created the smart contract language Solidity, and is credited with coining the term Web3.
Other Web3 Foundation co-founders, Robert Habermeier and Peter Czaban, have accomplished backgrounds in blockchain, cryptography, and fintech.
Polkadot has several things that make it unique in the crypto world. Firstly, as mentioned, it’s a sharded multi-chain network that can process transactions across various blockchains in parallel. These are called parachains. This improves scalability and connectivity.
Developing custom blockchains is fast and straightforward using the Substrate framework, and Substrate blockchains can easily connect to Polkadot’s network. Polkadot can be automatically upgraded to add new features and remove bugs without forks.
Finally, Polkadot has a sophisticated user-governance system where all token holders vote on how the network runs and will progress. Various nominators, validators, and collators secure and maintain the network.
A Polkadot casino is simply a crypto casino that accepts DOT as a payment method. We’ll also refer to any Polkadot casino as a DOT casino.
How much is a Polkadot?
The DOT token is the native cryptocurrency of the network and is used for governance, staking, and transaction fees. Since its launch in 2020, the price of DOT has seen significant fluctuations, with both highs and lows.
The initial public sale of DOT took place in 2017, with the price starting at USD $0.29, and raising 485,331 ETH. However, it was not until August 2020 that the token was officially launched and listed on major cryptocurrency exchanges. The initial price of DOT at the time of launch was $2.71.
Shortly after launch, the price of DOT rose quickly, reaching an all-time high of $49.69 on May 15, 2021. This peak was driven by a combination of factors, including increased adoption of the network, positive sentiment in the wider cryptocurrency market, and a general increase in demand for cryptocurrencies as an asset class.
However, the price of DOT has experienced a significant correction in recent years, with the price falling to a low of $13.15 on July 20, 2021. This decline was largely due to a broader market correction that saw many cryptocurrencies experience a similar drop in value.
Since the July low, the price of DOT has shown signs of recovery, with the token trading in the range of $20 to $30 throughout late 2021 and early 2022. As of March 2023, the price is right down to around $6.
Advantages of Polkadot Casinos
Accepted at BC.Game and Cloudbet
BC.Game is one of the largest crypto casinos on the internet with thousands of games including Provably Fair ones, and amazing promotions. It is one of the few Polkadot casinos that Gambling Crypt recommends for DOT gambling. Another top DOT casino choice is Cloudbet. Both sites offer gamblers a terrific choice of thousands of casino games.
Play DOT blackjack, baccarat, poker, roulette, craps
Find table games like baccarat, blackjack, roulette, poker, live games, video poker, craps, keno, and much more. Cloudbet also has a top sportsbook with sports betting on tons of sports and also esports.
You will find all the top game providers like NetEnt, Microgaming, Playtech, Evolution, and Evolution. Check the top of the pages for the latest casino offers like Free Spins, deposit bonus, and more offers.
Limitless scalability on the blockchain
Polkadot can connect an infinite number of blockchains. This could be exciting for the casino industry. With decentralized apps (dapps) set to be the next big thing in crypto gambling, Polkadot casinos wouldn’t be restricted to using one blockchain like Ethereum, Solana or Cardano. It could feature multiple dapps on multiple blockchains.
Respected coin and Parachain tech
The people behind Polkadot are some of the brightest minds in cryptocurrency so expect more and more traffic to the network in the next years. The coin will continue to be a valuable asset, and we’d expect more casinos and gambling sites to start accepting DOT soon. Remember, it’s much younger than most of its rivals and has more potential.
Token speed and low cost
The blockchain can handle thousands of transactions a second and, when fully operational, is forecast to handle a million transactions a second. That makes it a great choice to make payments at a DOT casino as deposits and withdrawals are instant. There are also low fees for transacting with DOT, which gives it an advantage over BTC and Ethereum.
Disadvantages of a DOT Casino
Transaction fees could rise
Polkadot casinos currently benefit from cheaper transactions than Ethereum or Bitcoin, but DOT uses a weight-based transaction fee. This will grow as the coin’s value rises, meaning cheap transfers may not always remain cheap. This means other coins like Ripple and Dogecoin should remain more popular at casinos.
Bitcoin and Ethereum are more popular
Despite being a top-10 cryptocurrency, Polkadot casinos have not been widely adopted. While Gambling Crypt has a variety of great casinos outside of the big two (Bitcoin and Ethereum), like Bitcoin Cash casinos, Litecoin casinos, Cardano casinos and even Monero casinos, there is just no wide choice of casinos that accept DOT.
Instead, many Polkadot casino style gambling dapps exist, but these aren’t widely played, offer very limited gambling opportunities and can’t be recommended over the best crypto casinos. However, this could clearly change, so watch this space!
DOT is a centralized crypto, less anonymity
Polkadot is relatively centralized, which many crypto fans dislike. Decisions on the network are meant to be made democratically but to have a seat at the table, you effectively need to own millions of dollars of DOT.
Polkadot is not an anonymous blockchain. While Polkadot does offer some privacy features, such as the ability to create private or permissioned parachains, it is not designed to provide complete anonymity.
Transactions on the Polkadot network are publicly visible on the blockchain, and while users can use pseudonyms or anonymous addresses, their transactions can still be traced back to them if they are linked to a real-world identity.
Additionally, Polkadot’s governance model is based on stakeholder voting, which requires users to identify themselves and their stake in the network in order to participate in the decision-making process.
Wallet is a target for hackers
Hackers have targeted Polkadot and decentralized finance apps. In some cases, they have successfully stolen funds and or frozen up funds on the network. If the chain continues to grow and more dapps are built on their technology, more hacks could damage trust and DOT’s value.
Lots of competition from the likes of Solana
Polkadot casinos face competition from Ethereum, Solana, Cardano and EOS, among others. While some of the chain’s features are unique, it hasn’t triumphed in the battle of the blockchains yet. Ethereum is stronger in terms of adoption, has more uses currently, and is designed to facilitate high-value transactions securely. For these reasons, Ethereum is better suited at the moment to casino gambling and dapps.
What’s the best DOT casino for gaming?
It’s easy. In our view, both BC.Game and Cloudbet offer the best choice for players looking to play at a DOT casino. With thousands of games, huge offers for both new and regular players, and brilliant reputations, you can be sure to have a positive gaming experience at either DOT casino.