Tezos is a self-upgradable, open-source blockchain platform designed for hosting and creating decentralized assets and applications. Its original authors are the husband and wife duo of Kathleen Breitman and Arthur Breitman, both financial experts. Tezos first got proposed in a 2014 whitepaper, but its test-net got launched in June 2018. It is a blockchain where its stakeholders have the responsibility to govern all protocol updates. That includes amendments to its governing processes. That is one of its most distinguishing features. It also creates incentives for user participation in its development. The Tezos native token is Tez, also known as a tezzie.
Tezos is ancient Greek for smart contracts, per its developers, and it had one of the most massive ICOs ever in 2018, raising $232 million. However, legal and management problems plagued it for the next two years until these got resolved, and it began to gain steam thanks to its staking mechanism.
Tezos’ primary protocol uses liquid proof of stake (LPoS) and supports Turing-complete smart contracts in Michelson, a domain-specific language. It is a stack-based one designed for formal verification. Many believe that Tezos, with Cardano and EOS, are the big sleepers in the crypto industry and that all three will likely soon explode in popularity.
Tezos casinos are crypto betting platforms that accept XTZ. Currently, there are not loads of these sites around, as many still consider Tezos a niche cryptocurrency. Thus, its user base is not vast, so few operators cater to coin enthusiasts that use it. That said, as the public takes more note of it, so will online casinos, who will undoubtedly add it to the payment arsenals in the years to come.
Every game that a crypto platform, allowing Tezos, offers. There is no doubt in our mind that if you stumble upon a gaming site marketing itself as a Tezos casino, that you can make XTZ bets on all its products. Long gone are the days where online casinos restricted titles to only specific cryptos. Nowadays, if a site accepts a coin, there are no associated betting limitations. All players that make deposits with it are free to use it for all offered gaming services.
Reel spinners are the dominant digital gaming genre. Therefore, such products from NetEnt, Pragmatic Play, Microgaming, Nolimit City, and other premium developers should all be available for Tezos users if their chosen platform allows this coin.
While slots are the cash cows of the interactive gaming space, live dealer products claim more ground every year. Brands like Playtech, Vivo Gaming, Pragmatic Play Live, and Evolution Gaming are spearheading this effort. The latter is responsible for some of the industry’s most innovative live products that feature game show-like gameplay. You can find these next to classic table options such as Tezos blackjack, roulette, and baccarat. These options should also be on hand in the software format at Tezos gambling sites.
Mobile sportsbooks are taking over the world as more and more territories are making betting on sports legal. The crypto gaming sphere is wise to this trend, and many crypto sportsbooks have recently launched, some of which accept XTZ. There aren’t many of these, but the ones that exist offer a vast array of sports betting markets.
Veterans crypto gamblers know that in the mid-2010s, crypto gaming was all about provably fair products. These titles feature algorithms whose random number generation sequences players can reset and verify. Know that this genre is still alive, as many crypto sites aim to keep some of their mystic of yonder by providing such products in their game libraries. If a site accepts XTZ bets, the odds are that it will have a few provably fair titles in its gaming arsenal.
Okay, so it is time for us to learn why using XTZ at online casinos is a good idea.
Since the Tezos blockchain does not record as many daily transactions as more established ledgers, its transfers happen faster. In the worst-case scenario, a Tezos transfer will need 30 minutes to get completed.
Yes, you read that right. Participation in the Tezos consensus process involves making a security deposit. Thus, honest behavior gets rewarded on this blockchain, while malicious actions get punished. If you are a rule-obeying person, you may get a boost for your good nature that you can later use at Tezos casinos.
By implementing a language that enhances formal verification, many consider Tezos a super safe project overall. It also boasts some of the lowest transaction commissions on the crypto market.
The principal negative aspect of using XTZ are:
Tezos has been in the news due to a few internal and class-action lawsuits that have damaged this protocol’s reputation.
Concerns exist that as the Tezos ledger grows, it will become a busier network, increasing its user charges. So, keep that in mind when making Tezos deposits, as the withdrawal fees may spike by the time you decide to remove funds from your casino account.
Voting power on the XTZ blockchain gets determined by how much XTZ a person owns. Some defined this as a society governed by the wealthy. So, the fate of Tezos and the attributes of this coin may rest with a select group of individuals.
To begin your Tezos gaming journey, you will need to do the following:
In our opinion, the highest quality XTZ wallets out there are Ledger Nano X, Trezor One, TezBox Wallet, Atomic Wallet, Exodus, Binance Wallet, and the Guarda Wallet.
You can purchase XTZ at all the popular crypto exchanges like Coinmama, Coinbase, eToro, and Kraken.
Once you have a Tezos wallet filled with some XTZ, you will have to go to the cashier section of your chosen Tezos online casino, pick the deposit option and place a desired amount of XTZ in your balance. Note that XTZ requires thirty network confirmations.
Naturally, there are dozens of elements that contribute to an online casino getting called above average. You can check out some of our reviews to learn more about how we assess platforms. However, three essential sections for any platform accepting XTZ to look out for are:
Everyone visits a casino to play its games. You want your gaming home to feature a robust library of products that ensure that you never get bored when testing your luck.
At some point in your gaming adventure, you will run into an issue or two. Having a knowledgeable and courteous support staff on standby is an invaluable resource to have. Aim to play at sites that offer 24/7 live support, or at least ones that supply fast email replies. Check our reviews for this info, as this is something we focus on in detail.
Newbies unfamiliar with Know Your Customer procedures need to get familiarized with them quickly. They are the bane of most online gamblers’ existence. These identity verification processes are mandatory and can cause many headaches. They are also the chief reason why initial withdrawals get postpone, and in some cases, may take up to several days to complete. Read the terms and conditions page of the Tezos crypto casino you are considering, paying close attention to any mention of KYC. Alternatively, you can read what we have to say on this subject. You can do so by going through our review of the site you are thinking about joining.
Tezos casinos aren’t that common right now, so read our FAQ for more information if you need help understanding the ins and outs of betting with XTZ.
Not by a long shot. In fact, Tezos is a payment provider that isn’t found at many casinos at all. However, by choosing to select sites from our lists and database, you’ll be guaranteed to find a casino that does accept XTZ deposits.
Tezos does slap its users with a transaction fee when they deposit at sites, but that fee is minimal. Moreover, most casinos that permit XTZ withdrawals will cover the transaction fee themselves, saving you a bit of cash in the process.
Not really. Most major live casino software providers have not yet taken the leap to make their live dealer titles XTZ friendly. However, you can still deposit with XTZ and convert that deposit into another cryptocurrency (or fiat option) for gameplay.
Tezos has not been without controversy in its past, namely linked to lawsuits concerning its protocol. Given how it works, some deem Tezos to be something of a popularity contest, dare we say a mini dictatorship. However, safety hasn’t been an issue thus far.
If you find an online casino (such as those on our page) that readily accepts XTZ deposits, then your odds of being able to claim a bonus with Tezos deposits is fair.