In sharing the most up-to-date Philippine gambling news, we could tell you about the recent assertions from PAGCOR that the industry is positioned to regain pre-pandemic GGR levels by 2026.
Alternatively, we could discuss the massive new NUSTAR IR project in Cebu and all the implications thereof.
But the real news, as far as we’re concerned, is this:
Top Philippine gambling sites MyBookie Casino and Xbet Casino have just expanded their cryptocurrency banking menus significantly. The sites have doubled their crypto betting options and now support all the following coins (new additions in bold):
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Ethereum (ETH)
- Cardano (ADA)
- Solana (SOL)
- Binance Coin (BNB)
- Tether (USDT)
- Dogecoin (DOGE)
- Shiba Inu (SHIB)
While we’re not necessarily fans of every single one of the new options listed above (at least when it comes to using them for legal online gambling), there are several that merit a closer look.
Now, if you’re already regularly using crypto to bet online, you may have a favorite coin or two you like to use and thus may not be all that interested in playing around with new coins.
However, we’d advise you to reconsider, as a few of these just-added assets offer superior benefits when it comes to both gambling banking and investing.
As we all know, Bitcoin is the most popular and valuable cryptocurrency, and it’s a great investment. It will always be the biggest coin, and everything else is a battle for second place – or, given Ethereum’s prominence, third place.
However, coins like Litecoin and Bitcoin Cash – which are both much faster and cheaper to use than Bitcoin or Ethereum (remember, BTC and ETH are the most expensive and slowest cryptos going) – aren’t likely to break into the top 10 cryptocurrencies anytime soon.
They’re both good for making online transactions and they both hold their value well enough, but when it comes to investing, other more modern crypto coins are a better gamble.
That’s where cryptocurrencies like Cardano and Solana come in.
Of all the newly listed crypto coins at MyBookie AG and Xbet AG, these two are our picks for the new online gambler and the new crypto investor alike.
Cardano transactions and Solana transactions are extremely inexpensive, which saves you more money with which to bet and lets you keep more of what you win when you withdraw.
At the same time, both are extremely fast to process, which means you can get your online casino account or online sportsbook account credited within just 3-5 minutes.
But more than that, these coins offer tremendous added value once you cash out your gambling winnings. That’s because they’re both Proof-of-Stake (PoS) crypto coins.
In other words, you can get free Cardano and free Solana by staking ADA or staking SOL to stake pools. Instead of having to invest in expensive computer hardware to mine crypto the old way, you can get free crypto by simply delegating your coins right from your online crypto wallet.
Indeed, the entire industry is shifting to the PoS concept. Even Ethereum is doing so with the launch of Ethereum 2.0 later this year (or in early 2023).
As for the other new coins offered by these trusted Philippine betting sites, Binance Coin (BNB) is really the only compelling option.
BNB is a top 5 crypto coin and is the native token for the world’s largest crypto exchange. Plus, BNB coins are easier to buy and trade in the Philippines and other Southeast Asian countries than they are in the USA, as Binance doesn’t do much business in America, and you can only buy Binance Coin through the Binance exchange platform.
While not as fast or inexpensive as Cardano or Solana, BNB transactions are quicker than Bitcoin and Ethereum transfers, and they’re much cheaper than those, too.
That leaves Tether, Dogecoin, and Shiba Inu.
Tether is a stablecoin, giving it limited utility as an online betting medium and even less utility as an investment medium. Remember, USDT is tied to USD, and the US dollar always depreciates.
Dogecoin is a memecoin that has probably peaked and thus isn’t a great investment, even given its top 15 crypto status. On the other hand, Shiba Inu – aka the “Dogecoin killer” – is similarly hyped and similarly questionable, though it does represent a slightly better investment opportunity than its rival namesake.
In either case, however, we can’t really recommend gambling with these meme cryptos unless you already hodl a lot of the stuff and just want to use it up on something fun and potentially profitable – especially since you can be paid out in other cryptos when it’s time to collect.
As a final point of notice, both MyBookie and Xbet have now officially (though hopefully only temporarily) dropped support for Ripple XRP coins.
As these were some of the only Philippine gambling sites accepting Ripple, this could come as a blow to those players who have made a habit of gambling with XRP.
Of course, we have a feeling that XRP is going to take off in a big way just as soon as the United States’ SEC “case” against Ripple Labs is settled, which should be any day now.
As always, we’ll keep you posted on that and everything else in the legal online Philippine gambling world.