Solana is known for its super fast crypto network. This makes it perfect for building crypto casinos that are fast, secure, private, and fair.
In this guide, we’ll show you how you actually make some gains on Solana, using Solana crypto or Solana-based “SPL tokens” like Raydium, GMT, JET, and more.
Keep in mind that the tips and guides that we share in this article are meant to help you get started.
Be sure to do your own research on both the casino games you play, and the crypto asset you wish to use for gambling. The tips we share are not meant to be interpreted as financial advice.
What is Solana gambling?
Gambling with Solana is easy. Instead of using cash like U.S. Dollars, you use Solana (SOL) or other Solana-based tokens to place your bets.
This allows you to play so many online casinos on the Solana network. At the same time, you can bypass privacy issues, internet censorship, and currency exchange commissions.
Why should you gamble with Solana?
There are so many benefits to using Solana for gambling. Cash and credit cards can be tracked by your bank (and government).
However, if you have some Solana, it’s not so obvious how you’re spending your SOL online. That’s because the Solana blockchain was built for privacy.
You can also use Bitcoin, but there’s one other thing that Solana is good at — faster and cheaper transactions. You can save a lot more money if you use Solana to gamble.
Solana casinos are provably fair
On Solana casinos, random numbers are generated based on the Solana blockchain. Not only that it can generate completely random numbers that don’t come from a centralized entity, you can also prove it on the blockchain.
Now, that’s something technical that you don’t have to do to check that Solana casinos are fair. There are programmers that can verify and fact-check this for you.
No one can steal your SOL and SPL tokens
Solana and other Solana-based tokens are stored in a software called a Solana wallet. The wallet is free to make, and gives you 100% control over your funds.
Each wallet has a seed phrase (more in following sections) that unlocks your wallet without the password. This is what you should never share with anyone.
No one will know you gambled
Privacy and data breaches is a common problem in today’s online casinos. However, if you make a transfer in SOL or other SPL tokens, your transactions are difficult to track.
This is because Solana is built for privacy. People will only know that a Solana wallet address (like an account number) belongs to you if you disclose it.
Cheaper transaction fees
While there are many crypto casinos that accept Bitcoin bets, you still need to pay for Bitcoin transactions when moving the Bitcoin from your wallet to the casino. You can do the same thing with Solana, and save a lot on transaction fees.
Before proceeding, it’s worth to keep in mind that any gambling game involves elements of luck which is something that cannot be controlled. While this arguably keeps the games fund and exciting, it’s important to always be aware of your risk levels and your limits.
This is especially important considering the volatility of cryptocurrencies such as Solana (SOL), hence the importance of doing your own research beforehand.
How to maximise your chances with Solana gambling
How much you win will depend on your risk management strategy, the games that you play, and how you manage your Solana tokens. This section will give you the best practices when gambling with Solana.
Pick games with a lower house edge
In general, games like blackjack, poker and roulette offer you a better chance to make a profit. This is not to say that these games are profitable to you in the long run. Remember: the house always wins. But, a lower house edge allows you to play games longer!
Secure your Solana wallet
There’s no point in winning big if you’re not responsible for your Solana wallet. Be sure to always keep your wallet seed phrases secret. If anyone knows, they can easily steal all your Solana gambling wins.
Strategies don’t change on Solana casino games
The fact that you’re using Solana instead of cash will not change how you play the game. If you’ve been using a strategy that really works for you, you can apply the same strategy on Bitcoin gambling platforms.
Steps to gamble with Solana
These steps will show you how to get started with Solana gambling:
Create a Solana wallet for gambling
First, you need a Solana wallet to store your SOL tokens. Download Trust Wallet on your mobile device. Create a new wallet if you don’t have one already.
The app will then show you a numbered list of twelve English words. These are your seed phrases that you MUST write down. We recommend writing it in a secure device or a piece of paper. DO NOT share these phrases with anyone.
Once you verify the seed phrase, tap on Solana, and Receive. The app should now show you a QR code. This is your wallet address to which you send your Solana tokens.
Buy Solana from an exchange
Through TrustWallet (as of December 2022), you can buy Solana directly from Binance or Coinbase. If you have access to the two exchanges, go ahead and create an account on those exchanges, and buy some Solana by following the steps.
If you’re buying on a different exchange, use the Copy or Share button to copy your Solana wallet address to the exchange of your choice. NEVER type the wallet address manually to avoid making errors.
Login or create an account at Gambulls
Once you’ve got some Solana (SOL), or any of the supported crypto on hand, proceed to login to your account at Gambulls. If this is your first time – welcome aboard! Register and create an account with us to proceed.
Once you’ve created an account, proceed with the verification process and get your crypto wallet ready, and you’ll be all set!
Deposit Solana to your account’s wallet
Once your account is active, use the same method as before to transfer Solana from your personal wallet to your account’s wallet.
Pick a game that supports Solana gambling
Next, pick a game that supports Solana (SOL). In most cases, the selection of games that support Solana will vary depending on the website. Be sure to check the compatibility before you proceed.
Play and withdraw your winnings to your own wallet
Once you’ve decided you made enough returns, be sure to withdraw your wins back to your personal crypto wallet from the gambling site. This usually involves entering a deposit address back to your wallet from the gambling site. Make sure to double check your address before you proceed.
Gambling made easy with Solana
Whether you are a serious trader or a thrill-seeking gambler, you can use Solana and SOL tokens to place bets, large and small.
On a closing note, it’s important to keep in mind that as with any casino game there will always be an element of luck in the game. Despite the RTP claimed in the casino games, you still should be aware of your limits and set a target for when you want to fold and cash in your gains.
Be sure to do your research well. Gambulls is not responsible for any loss in funds caused by personal errors, such as but not limited to, transferring crypto assets to the wrong wallet address.
Additionally, cryptocurrencies are highly volatile assets with price and market movements that can fluctuate greatly depending on many factors. Be sure to assess your risk levels and do your own research on the crypto coins you decide to use before proceeding.
