Solana Sports Betting Deposits And Payouts

Solana – launched in 2019 – is a third-gen Proof-of-Stake (PoS) crypto currency platform.

The native Solana token is called SOL, and between 2020 and 2021, it rocketed up the crypto charts to become one of the top 10 cryptocurrencies on the market.

As such, it wasn’t too long before the best online sportsbooks started supporting SOL deposits and withdrawals.

The first legitimate online sports betting sites to offer Solana support were BetOnline AG and SportsBetting AG in late 2021, but it’s expected that most other top-tier operators will accept the revolutionary new crypto coin in the near future.

Solana is a particularly good cryptocurrency for sports betting for four main reasons (outside of enhanced bonuses and same-day payouts, which all crypto betting options provide).

First, Solana transaction times are minimal, with SOL transfers taking just 5-10 minutes at most. For online sports gambling, this means bettors can get their accounts funded almost instantly with zero risk of UIGEA interference. Solana payouts are similarly rapid.

Secondly, Solana transaction fees – i.e. native Solana blockchain fees – are among the smallest in the industry. Most transactions – even those of thousands of dollars in SOL – cost just a few pennies in network fees.

Thirdly, Solana is an investment-grade crypto coin. Its recent massive growth notwithstanding, the SOL value should continue to climb. As a gambler, when you get paid out in Solana and then hodl that SOL, you can make a mint on top of your mint!

Finally, Solana supports staking and rewards. By simply delegating your Solana to a SOL stake pool using a Solana staking wallet, you can earn passive Solana income. These Solana rewards (aka free SOL) are paid out every few days. 

This is a tough question to answer.

If you’re just getting started in crypto, you should pretty much always get started with Bitcoin (BTC).

However, various altcoins – such as Solana – can experience even more rapid growth at times, and BTC won’t always be the top dog.

For sports betting in particular, we think Solana is the better option right now, because its growth patterns have mimicked Bitcoin’s while the SOL transaction times and fees are much smaller than those for BTC.

If you want to deposit more and withdraw more – and if you want that to happen as quickly as possible – Solana is the superior online gambling crypto coin.

Some crypto enthusiasts will debate this endlessly, but right now, Solana is the clear winner.

Ethereum – while popular and profitable – is the most expensive and slowest cryptocurrency on the market.

Ethereum gas fees are unpredictable block to block, and these can really eat into your bottom line as a bettor, whether you’re making deposits or claiming payouts.

At many legitimate online sportsbooks, Ethereum deposit and withdrawal limits are also less favorable than those for other cryptos, which is primarily due to the cost of using ETH.

But Solana has no such issues. Whereas ETH takes 45-90 minutes to process, SOL takes 5-10 minutes. And while Ethereum can eat up 10% or more of your deposits/withdrawals in fees, Solana fees are fractions of a penny on the dollar. 

Despite being better than Ethereum for online sports betting right now, Solana is undoubtedly not an “Ethereum killer.”

While every new, exciting crypto platform that supports smart contracts, NFTs, and De-Fi are – at one time or another – labeled “Ethereum killers,” that’s never panned out.

Solana is no more an ETH killer than Cardano. Instead, SOL and other similar coins will exist alongside Ether, as each coin has different applications and partnerships.

Plus, once Ethereum 2.0 comes out sometime in 2022, the playing field will be even more level.

Again, it really depends.

Personally, we don’t think so, as we’re big ADA enthusiasts. However, we’re also bullish on Solana. And even though both coins purport to “do the same thing,” the crypto space is plenty big enough for “rivals” to coexist.

For us, there’s really no Solana vs. Cardano debate. Even when it comes to online sports betting, there’s really no great benefit to using SOL over ADA.

Solana transactions are trivially faster and less expensive, but for all intents and purposes, they work the same way.

If you’re trying to decide which coin to use for sports betting, base your decision instead on which coin offers the most benefits after you’ve won those bets.

In other words, will Solana or Cardano grow more in value over the long term? That’s the bet you’re going to have to take – unless, of course, you hodl both coins!  

Oh, yes. Most definitely. Absolutely. You better believe it. Etc.

Solana is an excellent crypto investment, and it proved that by being 2021’s biggest gainer.

While Solana isn’t the only great investment opportunity for crypto gamblers, SOL is definitely a coin you should add to your portfolio for the long haul.

If you’ve never bet with crypto before, SOL is a good choice to top off your betting account.

However, if you already have a betting account and want to get a bit of Solana, you can actually withdraw in SOL regardless of how you deposited initially. This way, you can dabble without making any new crypto purchases.

Still, no matter how you get Solana, just make sure you get Solana.

And then make sure you delegate it. 

There’s no way to know for sure, but most Solana predictions peg the Solana value at around $1000-$1200 per SOL coin by 2025.

We think that’s a little low given the Solana hype right now, but that just means it’s a safe estimate.

By 2030, the value of Solana is expected to eclipse $5000.

It’s notoriously difficult to make reliable guesses about crypto values that far in advance, but Solana’s status as a top 10 crypto isn’t likely to change in the foreseeable future.

As such, we think this Solana estimate is plausible at the very least.

Hopefully, of course, it’s going to be worth a lot more than that. We’re ready to retire right now!

No, Solana mining isn’t a thing.

At least, not in the traditional crypto mining context whereby individuals run mining software to verify blocks and get a cut of the new crypto generated for doing so.

With Solana – as with other third-gen PoS coins (i.e. Cardano) – this “mining” is handled by stake pool operators.

Solana stake pool operators process SOL blocks, and their processing status is determined by how many people have pledged their own Solana to those pools.

This kind of delegation does not remove custody of SOL tokens from SOL holders, but it does decentralize the “mining” process.

Solana delegators are rewarded for supporting their stake pools by receiving a share of the new Solana generated by those pools. These Solana rewards – aka free Solana – are meted out every Solana epoch (i.e. every two days).

To stake your Solana, all you need is a SOL staking wallet and the address of a reliable SOL stake pool. 

Yes, of course!

Now, when it comes to where to stake Solana, there’s no right answer. There are thousands of Solana stakepools, and as long as you choose one that’s operating under the SOL saturation threshold for maximum ROS (return on stake), you’re good to go.

All the best Solana staking wallets have SOL pool search tools, so you don’t even need to do that much digging.

And remember: When you stake SOL, you’re not giving up custody of your coins. You can still buy, sell, and trade Solana as normal.

Solana NFTs – or Solana non-fungible tokens – are digital “collector’s items” that are assigned a unique SOL blockchain address and can be bought or sold like real-world items.

NFTs like this are one-of-a-kind items or limited-edition items (typically in the form of electronic art), and the NFT boom is just getting started.

Many insiders believe SOL NFTs will overtake Ethereum NFTs in terms of popularity, but there’s room enough for all NFT markets to coexist profitably.

The most notable Solana NFT project underway as of Q4 2021 is the Melania Trump “Melania’s Vision” watercolor/audio mixed media collectible created by French artist Marc-Antoine Coulon. 

In Spanish, “Solana” is a female name meaning “sunlight.” Meanwhile, Sol is the name of our sun and our solar system.

Thus, Solana is a metaphorical “shining light” in the crypto space, which is reflected in both its network name and its ticker symbol (SOL).