Amp is one of the stranger cryptocurrencies you can come across. It isn’t a stablecoin or even a token, as such. Instead, it calls itself a collateral cryptocurrency, which is predominantly used to be held in escrow until the transaction clears, after which AMP is released. Naturally, this doesn’t sound like much of a cryptocurrency for gambling, but does it have some practical purpose that you aren’t familiar with? Join us as we explain how AMP works at online casinos in this guide. First, though, let’s introduce you to some of the leading Amp casinos you can find online.
Amp was created in 2020 when Flexa and ConsenSys got together to produce a new way to guarantee transactions. Amp has several uses. It is predominantly used to initiate fraud-free transactions, predominantly to merchants. However, AMP has been on a downward trend since 2021, making it a questionable cryptocurrency to use for gambling purposes before we even get into its availability and practicality.
Amp casinos are sites that facilitate the use of AMP as a cryptocurrency option. Despite being a collateral coin, it is possible to acquire AMP and use it to deposit and withdraw at casinos as you would with any other cryptocurrency. It is less common, though. Finding games that feature AMP-friendly bets is trickier to do, but they do exist.
While AMP-friendly casino games do exist, they are tricky to come by compared to, say, Bitcoin-friendly slot machines and games. Most Amp casino games are developed in-house by the casinos in question. Therefore, getting a handle on RTP, RNG certification, and so on can be rather tricky. We know that some Amp casino games include primitive slot machines and table games like roulette, blackjack, and table poker, but we haven’t seen any live dealer games accepting this cryptocurrency.
If you’re looking for the perks of playing with AMP at crypto casinos, here’s what you need to know:
AMP is designed to run in tandem with smart contracts, effectively acting as collateral to facilitate the instant settlement of transactions. It is predominantly used on the Flexa Network, so any crypto casino making use of that network may be ideal for betting with AMP.
AMP is an Ethereum-based token utilizing the ERC-20 standard. Therefore, your best shot of finding somewhere to play that accepts AMP is to head to a site that hosts other ERC-20 cryptocurrencies.
There are a couple of worrying disadvantages to using AMP at crypto casinos. We’ve highlighted the main ones below.
AMP had its heyday around the summer of 2021. Since then, its value has been on nothing short of a downward trajectory. It is currently worth around a quarter of what it once was and is arguably at its lowest value since it debuted. This naturally makes it a questionable crypto for gambling.
Amp’s primary purpose is to act as collateral while transactions are taking place, hence its name as a collateral coin. Unlike conventional stablecoins and tokens, it doesn’t have many practical uses in the online gambling world, making it a gamble at best to use at your favorite sites.
Very few online casinos accept Amp. Many of those that do are unlicensed and unregulated. Therefore, it is important to make a note of the following points before signing up and playing with AMP at crypto casinos.
Amp casinos can be found online, albeit not quite in the same number as, say, Bitcoin casinos. Moreover, some of these sites are unlicensed, which always raises eyebrows among some players. Therefore, it is important that you explore all the options open to you before signing up for a site. You’ll find some of our very best Amp crypto casinos right here:
AMP can be acquired and traded just as easily as most other crypto tokens. Let’s walk you through the process of doing that below.
Amp is a cryptocurrency that can be used to gamble, but it isn’t specialized for it. Moreover, its value is dropping of late. However, if you overlook the fact that it is a collateral coin, it can be used in much the same way as other cryptocurrencies at betting sites.
No. However, some of the larger ones that accept hundreds of cryptos will permit AMP deposits.
That’s tricky to answer. While we’ve found games that do accept AMP wagers, we didn’t come across any live dealer ones that did.
A handful of Amp casinos have welcome bonuses, and no deposit offers that feature AMP. The wagering requirements on AMP bonuses vary from site to site, though.
We didn’t see any reason why it wouldn’t be. However, the value of AMP isn’t great, and this is something you may wish to consider.
Simply put – no. Most AMP transactions involve a small cut. Withdrawals (from casinos) do seem to be devoid of added fees, though.