Sweepstakes and crypto casinos both offer alternatives to real money casinos. They can be used in areas where online casinos are not regulated, both require the use of a currency other than local currency, and they can offer the chance to enjoy casino games online.
However, while they do share similarities, crypto casinos use currencies with value away from the site, offer rapid deposits and withdrawals, and tend to offer greater variety and variance when compared to sweepstakes casinos.
What Are Crypto Casinos?
Essentially, these are online casinos that accept cryptocurrency deposits and withdrawals. Some casinos accept fiat transactions, as well, while some only offer crypto services.
Sites such as Lucky Block Casino provide the same range of games as traditional online casinos but because of their use of crypto, they tend to boast faster withdrawals, and lower processing fees, and they can offer anonymous play that makes them suitable for players who live in countries or states where online gambling is prohibited or unregulated.
What Are Sweepstake Casinos?
Sweepstake casinos use sweepstake laws to get around online gambling prohibition. Players buy sweepstake coins using fiat currency or, in some cases, cryptocurrency. These sweepstake coins can then be used to play typical casino games. Games can include slot machines, video poker, and casino table games.
Prizes are awarded in sweepstake coins, and players can turn in their sweepstake coins for prizes. Prizes can include real money cash prizes, but may also include other items and offers. Some sweepstake casinos enable players to earn SC coins and offer free coins via social media and mailing offers.
Similarities
Sweepstake and crypto casinos are types of online casinos and they both offer some similar games. Other than this, they also share several other similar traits.
Games
Typically, both sweepstake and crypto casinos offer access to some traditional casino games. You will commonly find variants of slot machines, table games, and even some poker games. This is dependent on what is on offer at the specific sites players use, however, with some sites offering many more games than others.
Regulations
Both sweepstake and crypto casinos can be beneficial to those who live in countries or areas where online gambling is restricted. In some US states, for example, online casinos are prohibited, but sweepstakes are allowed.
Sweepstake casinos enable players to enjoy the thrill of gambling and the possibility of winning prizes without falling foul of the prohibition. Crypto casinos offer anonymous registration, enabling players in these jurisdictions to register and play without giving their personal information.
Non-Fiat Currency
When you deposit crypto in a crypto casino or play at a sweepstake casino, you use non-fiat currency to play. For some people, this can make the sites feel more like games. However, there are differences between the two types of currency used, not least the fact that SC coins do not hold any real-world value, whereas cryptocurrency coins do.
Differences
Such are the similarities between these types of sites and some cross the line between the two. Crypto sweepstake casinos enable players to buy their SC coins using cryptocurrency. Otherwise, there are differences between the two.
Bonuses
Bonuses are a popular feature at most online casinos. At crypto casinos, the most common bonuses are deposit match bonuses. These can double, treble, or even quadruple a player’s starting bank, but there are wagering requirements that must be met before winnings can be withdrawn. Sweepstake casinos typically offer free SC coins via social media or for meeting requirements such as logging in every day. These can be rewarded daily and don’t typically have the same wagering requirements.
Unbanked Players
There are more than a billion unbanked people in the world: people who do not have access to traditional banking facilities. Unbanked players might be able to use free sweepstake coins but will not be able to swap winnings for cash prizes. Cryptocurrency offers an alternative to traditional banking facilities and has already proven a lifeline for many people who don’t have bank accounts. Similarly, crypto casinos are a great way for unbanked players to enjoy online casinos.
Currency Value
Sweepstake coins only hold value at the sweepstake casino they are used at, and even then they need to be converted to cash or other prizes before they have real value. While not every business accepts cryptocurrency, there is a growing number of ways to spend crypto, and it can be held or converted to fiat currency by the holder. It holds natural value, whether it is in a casino account or has been withdrawn to a player’s crypto wallet.
Complexity
One regular criticism of cryptocurrency is that it can be complex for first-time users. Buyers need a crypto wallet and to use a crypto exchange to swap fiat currency to crypto and back again. They also need to use wallet addresses to send and receive money, and these are long strings of characters that are impossible to remember.
Modern wallets and accounts do offer the use of QR codes and clickable links to make the process easier and remove the chance of making mistakes, but it is still more complex. Sweepstake casinos do require users to buy SC coins and then cash them out again, but it is a less complex process.
Regulation Varies
The regulation of online gambling and even sweepstakes varies from one jurisdiction to the next. Sweepstakes casinos are most commonly found in those jurisdictions where online gambling is illegal, but not all states or countries offer access to these sites.
Crypto casinos are accessible from anywhere in the world, although some players have had to use VPNs if they live in countries where gambling is very strictly prohibited.
Game And Website Variety
Crypto casinos are closer to traditional online casinos. There is a wider selection available to the typical online gambler, and these sites tend to offer the greatest variety and variance of games. For players who are looking for a good choice of slot machines or enjoy trying their hand at different types of casino table games, crypto casinos can offer the best options.
