I’ve researched web3 casino games on Solana, played them all and compiled a list of the best, so you don’t have to.
Degen Coin Flip
What are crypto casinos?
The term “crypto casino” refers to casinos that allow you to make deposits using cryptocurrencies. It started with Bitcoin but over time casinos have added more cryptocurrencies as deposit methods.
Recently, a new breed of Solana casinos have emerged which are decentralised smart contracts. With these, you’re able to seamlessly sign in with your Solana wallet and play without having to create an account or KYC.
Types of crypto casinos on Solana
It’s important to realise that there are different types of crypto casinos. Most “crypto casinos” are merely normal casinos that accept cryptocurrencies as deposits aside from usual fiat deposits.
Recently new players have emerged, a type of indie casino starting up from scratch with no backing whatsoever. These casinos are more like an MVP and are entirely decentralised. It’s weird even classifying them as a casino, since most of them only have a single game.
It sounds silly, a casino with only one game, but this does come with a massive benefit: the usability of this game can be optimised to deliver a user experience much better than traditional web or crypto casino games.
Their teams are small and the product is actually really simple. It’s just a smart contract that users interact with. Essentially a program of a game, attached to a wallet, with the ability for web3 wallets to connect to and interact with.
Most games featured might seem very familiar to you, as they are based on traditional casino/gambling games.
A never ending spinning wheel with three colours you can bet on. The wheel turns and lands on one of the three colours. You’re able to bet on of the colours and if the wheel stops on your colour you will double the amount you bet. One colour is usually special and more rare than the others and thus will pay a multiple higher.
For example, Moon Roll has blue, purple and yellow fields. Winning on blue or purple will double your bet. Winning on yellow will give you 14x the amount you bet. Sounds tempting, but because there are so much fewer yellow fields they are far less likely to come up.
Call heads or tails, specify an amount to bet (minimum is 0.05 SOL) and click a button to flip a coin.
If the coin lands on your selection you double your money. If it doesn’t you lose your bet.
DegenCoinFlip is by far the most successful game in the space, with up to 1000+ players on the website simultanously.
Similar to coin flip, your odds on dice are 50%. Either manually select three numbers from one to six, or use the buttons to select 3 random numbers and select a bet size.
Click to roll the dice. If it lands on a number you’ve selected you’ll double your money – else you will lose your bet.
Loot boxes are mystery boxes with a price tag to open. Boxes usually come in at various prices ranging from 0.05 SOL to 1 SOL and can sometimes be opened with certain SOL SPL tokens. Usually these tokens can be farmed by staking a particular NFT.
What are the odds of winning at Loot boxes?
With the games above the odds are pretty clear, but with loot box games they can be somewhat more confusing. Essentially, the odds of winning something are higher (around 60%) – but at a 0.5 multiplier this is only 50% of what you put in, so you are still losing. See the full odds below:
Pros and Cons
Pros of crypto casino games
- Less regulation. Traditional casinos require KYC (know your customer) and will record your every move and share these with agencies if asked.
- Idealism. You already believe in crypto, the blockchain and decentralised apps. Instead of using old school casinos, show the new age of entrepreneurs some love. They are, after all, pushing adoption forward and innovating.
- Fewer curious financial institutions that inquire about the source of your funds. Your money is not their business.
- Instant deposits and withdrawals. Thanks to web3 wallets and the speed of the Solana blockchain, your deposits and withdrawals are instant.
- Bonus: If you want to be more than just a player, invest by buying the NFT. For example, holders of Degen Coin Flip NFTs are currently receiving one SOL every day from profit share.
Cons of crypto casino games
- Lack of regulations. Since many countries are against crypto most of these businesses are based offshore. Regulations can protect customers and because they are lacking we suggest you only deposit money to tried and tested platforms.
- Only accepts crypto. That trick where you deposit with a credit card linked to your bank account worn’t work here. You will need to buy crypto first, and additionally in most cases above it will have to be a specific crypto (SOL and SOL based tokens).
My scores were based on the following criteria.
- Team’s Website, Twitter and Discord – are they set up for great customer service?
- Ability to deposit and withdraw without problems – were there issues with getting my money out again?
- Number of people are playing – the more people playing, the more trustworthy the project
- Floor price of the project – if a project’s NFT is traded and provides value to the users I doubt the project would be going anywhere.
- Number of games
- Is the game easy to learn
- Are the rules set out
- Are transactions verifiable on-chain
- Are the games fun
- Is there a chat or other features to interact with other players
- Does the game seem fair?
Should I play Solana Casino Games?
According to us at TradeCrypto, yes absolutely. These casinos are totally groundbreaking in a sense that they have virtually no regulation and you remain relatively anonymous while playing.
If you already have SOL/Solana you can be up and running within seconds. Just connect your web3 wallet (e.g. Phantom), make a deposit and start playing.
If you don’t already have Solana, why not get some? Of all the blockchains out there, Solana is showing big growth. It’s really cheap right now to get, I’m convinced it will be much more expensive in the near future. Parking your money in this crypto (aside from Bitcoin) seems like a fairly safe bet. NFA.