Have you spotted the Lightning Network cropping up at your fave online crypto casino? Our team has, so we thought we’d do some digging and find out what it’s all about – and whether we should be interested!
(The TL:DR, yes, a Lightning network casino is a good option if you’re looking for super-fast BTC transfers, especially small ones, but hey, read on for the details.)
Why Bitcoin transfers can be a hassle
Think of crypto gaming, and you probably think of the O.G digital currency, Bitcoin. But although it’s usually the default choice for play, it can be a hassle too, especially when you’re waiting on the deposit that never seems to arrive.
Harking back to the bad old ‘computer says no’ days of traditional banking, regular BTC transactions can take ten minutes at best (not exactly swift) and up to an hour, depending on what the network’s up to and whether the casino’s fast in there to make its approval.
Obviously, crypto gamers aren’t loving this, especially in a world where we basically expect everything to happen instantly! (If we didn’t, we’d just be playing table games in person, though, right?)
It’s also worth checking the payment options before getting distracted by a welcome offer. When browsing crypto casino promo codes, check which Bitcoin network the casino actually supports and whether your deposit qualifies for the bonus. A generous offer won’t make a slow transfer arrive any faster, and accepting BTC doesn’t automatically mean a site accepts Lightning payments.
Why Lightning Network casinos are the next big thing
As your science teacher may have told you, nature abhors a vacuum, so this gap in the market is now being addressed by Lightning, an alternative network that offers BTC transfers in a matter of seconds.
As if that wasn’t enticing enough, it also offers transfers at a fraction of the cost, which is ideal if you’re just a casual gamer making small deposits when you hit up those slots or Plinko rounds. Otherwise, transaction fees really bite into that bankroll.
But for every Lightning network casino, there’s another behind the curve, and even those using it may have different rules and limits around deposits. So let’s look into the details.
What is the Bitcoin Lightning Network?
It’s basically a second layer of payments built on Bitcoin itself. It doesn’t record each transaction individually on the main blockchain but instead uses payment channels for lightning-speed (hence the name) transactions in seconds, which usually only cost under a penny or cent. Massive potential wins on both fronts.
Lightning itself isn’t a cryptocurrency; it transfers BTC only, which means your online crypto casino must support Bitcoin and your digital wallet.
How do you use Lightning?
You’ll be using a payment invoice rather than copying over a wallet address, but it’s very easy. Usually, you just open the casino cashier, choose Bitcoin, and then select the Lightning Network before choosing how much you want to deposit.
An invoice then generates as a string of numbers and letters, ready to copy, or as a QR code. Just open your wallet, paste or scan the details and click to authorise. It should then show in your casino account in a few seconds, good to go for that Crash session.
Top tips for using Lighting
Lightning invoices usually expire in a certain amount of time, like 10 minutes, and they only work for a certain amount. So if yours runs out or you change your mind about the deposit amount, just generate another. Also, make sure you choose the Lightning network, not the regular Bitcoin one.
Are there min or max deposits?
Lightning is great for smaller transactions, but there’s not actually a min or max deposit, at least universally, although Lightning network casinos will often set their own.
What are the minimum and maximum Lightning deposits?
Lightning is particularly well-suited to small transactions, although there isn’t a universal minimum or maximum.
Some Lightning-based gambling platforms accept deposits as small as 100 sats. At the other end of the spectrum, some providers will allow deposits of several million sats. We can only dream…
The amount you can transfer in practice will also depend on your Lightning network casino’s own rules and your wallet.
So it’s worth remembering that regular Bitcoin transactions might sometimes be better, like if the payment route is blocked and lacking liquidity, even if your wallet’s loaded up with BTC.
Which Lightning Network Deposit should I choose?
Just because your regular online crypto casino accepts Bitcoin doesn’t mean it will automatically support Lightning.
However, because we’re good to you, we’ve done the research for you from our usual bank of tried and tested crypto casinos (meaning that they tick the box on all other fronts, from regulation and security protocols to quality experiences and good customer support).
The main casino that advertises Lightning network withdrawals is Betpanda, and it also advertises instant speeds (plus some great new player offers).
Just bear in mind…
If you’re using a different casino, check first whether it actually uses Lightning. Sometimes casinos will talk about lightning-fast payments, which aren’t necessarily the same thing.
Remember too that other things can affect how quickly you see your available balance ready to play, like failures with your own wallet’s routing, expired invoices (see above) and any delays or stops at the casino end.
For example, if you’re a new player, you might need to complete an ID check, or the casino might do manual approval.
However, once you’re a regular user at your favourite crypto casino and if it supports Lightning transactions, you’ll probably find these are a great option for quicker admin and access to your BTC gaming leisure time!
