What is Polygon (MATIC)?
Matic is the official cryptocurrency for the Polygon Blockchain network, but the Polygon network is simply a Layer 2 for Ethereum, otherwise known as a “sidechain”.
Polygon was never created as a scalable solution to Ethereums high gas fees and low network speeds. Their PoS consensus mechanism and use of robust network mechanics have allowed Polygon to rise to fame across the industry. Their main aim is to provide a more scalable, secure, and cost-effective environment for DApps and users to thrive.
Fun Fact: Polygon was originally called the Matic Network, before being rebranded, but they decided to keep their original token name.
MATIC is the native token of Polygon. Users staking their tokens are assisting in securing the network and validating transactions, and are thus rewarded in MATIC tokens. By supporting Polygon, through holding MATIC, holders are also supporting the network health of Ethereum.
Advantages of Polygon casinos
Cryptocurrency casinos in general offer far more benefits than traditional currency casinos. Before we break down some coin-specific benefits, we have to look at the overall advantages players can enjoy when playing with cryptocurrencies at casinos.
These are the advantages of crypto gambling:
- Fast and secure transactions
- Anonymity and privacy
- Lower fees
- Global accessibility
Looking at MATIC specifically, there are even more benefits to look forward to. MATIC boasts a TPS (transaction per second) of 65,000. The network fees of MATIC fluctuate depending on how busy their network is, but it seems to maintain a low average of around $0.0005 to $0.2.
All these factors make it stand out, even above the benefits around offered by crypto as a whole.
Difference Between Polygon and Fiat Casinos
While most cryptocurrency casinos do not differ too much, fiat and crypto casinos are worlds apart.
Fiat casinos use payment methods that may take days to process, especially when considering international players, and can be costly to send. Most cryptocurrency transactions do not take more than a few hours to be processed and the only fees associated depend on how busy the network is. Because MATIC can process roughly 65,000 tps, you likely won’t have to worry about any of that.
Anonymity and privacy
Fiat casinos normally require personal information and identity verification, while MATIC casinos can offer users a level of privacy and anonymity due to the nature of blockchain transactions. But this most likely depends on the casino and its terms and conditions, but anonymity is more likely to be provided at crypto casinos and thus MATIC casinos.
As already discussed, international fiat transactions can take days to process and can be extremely expensive, but cryptocurrencies like MATIC are global currencies providing fast and cheaper processing. Additionally, cryptocurrencies allow players to bypass country restrictions aiding in more accessibility yet again.
Some may like or dislike this difference, but MATIC experience a lot more volatility compared to fiat currencies, although they do experience some fluctuations too. While this difference may depreciate your winnings, it may also greatly increase your winnings during a bull run.
There are likely more differences that depend on different casino practices, but overall these are some of the main differences between MATIC and fiat casinos.
How do Polygon casinos work?
Polygon casinos work similarly to most other crypto casinos, the main difference is that you are using MATIC as your preferred transaction and bet method. At the end of the day, as long as the casino accepts MATIC as a payment method, it is a MATIC casino.
This is how you would go about using a MATIC casino:
- Sign up for a casino that offers MATIC as a deposit method.
- Download a cryptocurrency wallet that provides support for MATIC.
- Buy MATIC on your preferred crypto wallet.
- Send MATIC from your crypto wallet to your dedicated casino MATIC wallet address.
- Wait for your funds to be processed and available at the casino.
- Start playing games and betting with your MATIC balance.
How to choose a Polygon casino
When choosing a Polygon casino, it’s important lookout for a few key features to ensure that you are selecting a reputable and trustworthy platform. Here are some things to vet before depositing at any casino:
- Licensing and Regulation
- Reputation and Trustworthiness
- Game Selection
- Payment Options
- Bonuses and Promotions
- Customer Support
Overall, each casino is unique and offers something you may be looking for. But it’s essential to make sure you are playing on safe and secure platforms. Once you have verified the legitimacy of these casinos, you can look at the game selection, payment options, promotions, and other things that may elevate your gambling experience.
Get more tips in our ultimate guide to choosing the best casino to play at.
How to play at a MATIC casino?
The first step would be ensuring the casino you choose accepts MATIC. You will then need to sign up for said casino and provide the required user information. You may then be asked to confirm your account creation via email confirmation.
The next step would be to make a deposit at your chosen casino. Most casinos use a very simple deposit mechanism, making it easy for you to transact, you will most likely be asked to follow these steps:
- You will first need to have a wallet containing MATIC.
- Then you will head over to your casino of choice and find your designated deposit wallet address.
- From your personal MATIC wallet, you will then need to paste your deposit wallet address and send funds.
- Make sure you have looked at the minimum deposit amount and required fees.
- Your funds will then reflect in your casino wallet once enough network confirmations have been made.
Once your funds have cleared, you will then be able to start playing. It usually is that simple, there are obviously some exceptions, but most of the time you can start playing at a MATIC casino 10 minutes after signing up.
MATIC gambling safety
Cryptocurrencies like MATIC are much more secure than traditional options by default. But the internet still poses many risks that gamblers must be aware of, so it is important to stay alert and vigilant nonetheless. Here are some MATIC gambling safety tips:
- Choose a secure wallet: Your first step to gambling safely with MATIC is choosing a secure wallet to send and receive MATIC through. You want a wallet that ensures you are not susceptible to hacks and can retrieve your account back in case. Think 2FA, private keys, and more.
- Choose a reputable casino: You need to choose a casino that is licensed, trustworthy, and has strong SSL encryption. You need a reputable casino as they will be holding your funds. Also, make sure they have good customer support services in case an issue does occur, it’s important to have a direct line of communication with your gambling platform.
- Complete KYC before depositing: This may seem like an absurd recommendation, especially considering how unfavored KYC is within the space. But hear us out, completing KYC before you deposit ensures you won’t have an issue withdrawing your funds later due to failed KYC.
- Double-check your wallet addresses: Make sure you are always sending money to and from the correct network. Ensure the wallet address you are sending money to is an identical match to the sequence of numbers and letters provided by your casino and preferred wallet. The last thing you want is to lose your deposit or big wins due to an incorrect address or network.
- Manage your bankroll: This may go without saying but we’ll say it anyway. Gambling can be addictive and chasing losses is never a good idea. In order to enjoy your gambling in a safe way, it’s important to set yourself a budget and time limit as to not continue a losing spree or outlive your winning streak.
MATIC casino games
Depending on the casino you choose, you will get access to a large selection of MATIC casino games. The categories depend less on MATIC than the platform you choose to play on, but don’t worry we have guides for each crypto casino game and platforms that provide them. These are the MATIC casino games you can choose from:
There are obviously far more MATIC casino games out there, but these are the main games you are likely to find at more casinos. There is Keno, Bingo, Lotteries, and more, you just have to choose a MATIC casino that offers they games you want and love to play.
Types of MATIC casino bonuses
MATIC casinos usually offer great bonuses and promotions to incentivize new players and retain existing ones. You can find the traditional welcome bonuses that are available at most online casinos, but there are some much more interesting features and rewards available.
- No Deposit Bonus: No-deposit bonuses allow users to play for free without having to make a deposit. But keep in mind that these bonuses may come with strict terms and conditions like high wagering requirements.
- Reload Bonus: Reload bonuses are offered to existing players when they make additional deposits and are usually a percentage of the deposited amount.
- Free Spins: Free spins are another popular and well-loved bonus offered by MATIC casinos. Players can receive a number of free spins on specific slot games when depositing or completing other requirements.
- Cashback Bonus: Players can receive a percentage of their losses or deposit amount.
- VIP/Loyalty Program: We like VIP programs because they reward loyal players who consistently play at the casino. These bonuses can include specialized promotions, higher withdrawal limits, and access to exclusive features.
What is a Polygon casino?
A Polygon casino is simply a casino that accepts Polygon's native token, MATIC, as a payment method. It really is that straightforward.
Is MATIC gambling safe?
Cryptocurrency is by default a more secure payment option in comparison to fiat currencies, but whether it is safe or not depends on the casino you choose. To ensure a truly safe MATIC gambling experience, ensure the MATIC casino you are gambling on is licensed, reputable, and has good security measures in place.
Can I convert MATIC winnings back to fiat currency?
Yes, either directly through the casino via an exchange bridge or through your personal cryptocurrency wallet. You can also use peer-to-peer crypto exchanges to convert your MATIC into fiat. There are many ways, but the short of it is yes you can convert your MATIC winnings back to a fiat currency.
Is Polygon gambling legal?
This depends on the rules and regulations of your specific country. So if you want to play at any cryptocurrency casino or betting platform, you will need to do your own due diligence to see if you or your country is prohibited from accessing the platform.
Are MATIC gambling transactions anonymous?
No, while there is a certain level of privacy, MATIC blockchain transactions are traceable. But if you can acquire the MATIC through a method that can not be traced back to you, and you do not withdraw it to an account associated with your details, then it could be somewhat anonymous.
Is MATIC gambling provably fair?
It can be. This depends on the crypto casino you decide to gamble on, whether they state they use RNG mechanisms, and if they provide a way for you to verify the fairness of the results. Provably fair algorithms can be confirmed through an encrypted key for each card, spin, or bet outcome.