Metaverse Gambling Guide – What Is the Metaverse?

Author: Isaac Payne | Last Updated: March 2024

For the past few months, the Internet has been ablaze with the idea of the virtual reality world, Metaverse. Mark Zuckerberg’s proposal for the Metaverse at the tail end of 2021 left many individuals scratching their heads and sent many businesses to the drawing board in a hurry.

Fast forward a few months to present time, gambling seems to be the next big thing for the Metaverse, with decentralized casinos popping up all over the place. But what is Metaverse gaming and gambling? How does it work? Who can play?

That’s what we’re here to sort out. There’s a lot of contradicting information on the web about Metaverse gaming and virtual reality casinos, so we’ve taken the time to put into writing exactly what you need to know.

What Is the Metaverse?

The idea of the Metaverse has been around for a long time, and we’re just not seeing those ideas come into the mainstream. Science fiction authors and computer scientists have been talking about simulated realities for a long time, but it was Neal Stephenson’s 1992 book Snow Crash that really popularized these simulated realities.

Big tech took the Metaverse – which was the name of the virtual reality in Stephenson’s novel—and ran with it. Late last year, Mark Zuckerberg, the CEO of Facebook, announced that the Metaverse was his company’s next big project.

Facebook isn’t the only company in on this project either; Microsoft, Google, and many other big tech firms are funding research and development of the Metaverse.

In a nutshell, the Metaverse is meant to be an extension of our physical reality, a place where you can:

• Buy, sell, and trade goods/services
• Interact with friends and families in simulated settings
• Own virtual real estate
• Collaborate on projects with people on the other side of the world
• Gamble at Metaverse casinos

We’re particularly interested in the Metaverse because it has the potential to take online gambling to a whole new level. With the popularization of virtual reality headsets, online gambling is bound to rival the real-life experience of walking into a casino and sitting down at a blackjack table.

Metaverse Gambling and VR Gambling: Are They the Same?

The Metaverse is still a new concept, but its foundation will be built with tech that we’re already familiar with: virtual reality.

Now, virtual reality isn’t a new concept, but it’s not necessarily accessible to everyone, so it still holds a bit of mystery for the general public.

Aside from workout games like Beat Saber and horror games like Phasmophobia, VR is also quite popular in the gambling community. There are plenty of VR casinos out there – most of which aren’t yet real money casinos—that transport the player to a simulated environment meant to emulate a real-life casino.

Metaverse gambling and VR gambling aren’t that different, in theory. They will both provide simulated spaces to interact with other players and dealers, enjoy slots or table games, and make in-game purchases.

However, the difference arises with the impact of your gambling. What we mean by this is that gambling in the Metaverse will have a much larger impact on your experience.

When you leave a VR casino today, you cash out your winnings, take off your headset, and walk away. The money you won will be deposited in an account of your choice or left in the VR casino bankroll for gambling at a later time.

The Metaverse will be like that, where you have thousands of options for places to go, see, things to buy, people to connect with. The money you won in the Metaverse casino can be used to purchase virtual land, mint NFTs, or purchase items to customize your avatar.

In many ways, VR casinos represent the Metaverse in a microcosm. The contained environment of the casino functions like a little community, and the Metaverse seeks to expand on that on a much grander scale.

Gaming and the Metaverse: Types of Casino Games

A lot of people think that the Metaverse will drastically change the gaming landscape. But, in all honesty, we think it will abide by the principle of “if it’s not broken, don’t fix it.”

Sure, there might be super-advanced VR games that are based on owning virtual real estate; Metaverse gambling has to present reasonable, familiar gaming options.

From what we’ve already seen from some decentralized casinos and the Metaverse casinos that are out there, many of the casino games we know and love will remain the same in the Metaverse. Blackjack will still be blackjack, and roulette will still be roulette.

These games might have additional features, and most of them will probably function on a Metaverse token or crypto payment system, but the fundamental games will remain the same.

So far, we’ve seen games in the Metaverse like:

• Crypto Gems: A crypto-focused slot machine where you use EDG tokens to place bets. Can be found at Edgeless.io.
• Blackjack: Blackjack is one of America’s favorite casino games, and it can be found at multiple decentralized casinos as well as some Metaverse casinos, like Decentral Games.
• Baccarat: This casino staple has a very low house edge, making it a favorite for avid gamblers. You can play with BET tokens at Edgebet.io, another decentralized casino.
• Roulette: European roulette is the most common variation of the classic game you’ll find at decentralized and Metaverse casinos.
• Dice: This game has popped up at a few different decentralized casinos, and it’s a spin-off of the traditional craps game but uses cryptocurrency as the betting stake.
• Slots: Slots are perhaps one of the easiest games to play in the Metaverse, and you can find them simple three-reel slot games at Decentraland casinos and more specialized versions at online casinos like Peerless Games.

Metaverse Gambling and Decentralized Casinos

While we haven’t seen the fruits of Zuckerberg’s labors yet, there are plenty of places on the Internet where you can experience the first wave of Metaverse gambling. Decentralized casinos are the primary venue for Metaverse gambling, and they’re far more complex than the online gambling sites that we’re used to.

Instead of having their games controlled by random number generators, decentralized casinos place all of the computing functions – game outcomes, banking transactions, etc. – on the blockchain. The Ethereum network is the best for these kinds of applications, as it has the best support system for smart contracts, which are what run the casino.

Here’s a list of some of the decentralized casinos that are gaining popularity:

• Decentral Games
• EarnBet.io
• Edgeless.io
• Peergame

Decentral Games

This Metaverse casino is powered by $DG, and players are able to contribute to the platform by deciding on profits and voting on new games. Decentral Games is unique because you’re rewarded for playing, and not just with free comp points or something that you’d find at an online casino.

Instead, Decentral Games gives you actual DG tokens which have a monetary value and can be traded using a crypto exchange.

Decentral Games only started up in 2021, and so far, they only have a few games to choose from: poker, blackjack, roulette, slots.

Decentral Games is also closely tied to the NFT space. Their ICE Poker game is free-to-play and can actually earn you a significant amount of crypto. However, you must own an ICE Wearable to customize your avatar as a prerequisite for entry. You can purchase an ICE Wearable, or you can choose to essentially “rent” one from a player who is delegating their NFTs.

In this way, Decentral Games is a lot less user-friendly for the average casino-goer, but it presents an interesting opportunity for NFT and crypto gambling variation.

EarnBet.io

Some of you may be familiar with EarnBet.io, as it used to go by the name EOSBet.io. But, after they started accepting more crypto banking methods than just EOS, they rebranded. EarnBet.io is certainly a unique decentralized casino. They run on BET tokens, their own Ethereum variation, and they claim to pay out 100% of house profits to BET token holders every day.

It’s another earn-to-play casino, where every game you play and bet you place rewards you with BET tokens. And BET token owners are paid out dividends with eight different cryptocurrencies for life.

EarnBet offers a few different types of games, like blackjack, baccarat, and dice. They also have unique games like Golden Ticket Jackpot, Hilo, and Crash.

EarnBet is one of the only decentralized casinos that pay back dividends to their users, and they’re one of the only Metaverse-ish gambling sites to have an official license. Certified by the Curacao Gaming Commission, you can rest assured that your bets are safe and the games are fair at EarnBet.io.

Edgeless.io

Edgeless is known as the “world’s first Ethereum-powered crypto casino,” which sets them up nicely to become part of the Metaverse gambling scene. Not only are they officially licensed by the Curacao Gaming Commission, one of their core values is transparency. You’re able to see the casino’s smart contract, the live Edgeless Casino bankroll, and all the jackpot payouts since they’re stored on the blockchain.

Edgeless became popular as a cryptocurrency casino in 2018 and has since become one of the leading names in the decentralized gambling industry. Their utility token, EDG, is one of the top altcoins that uses the Ethereum blockchain and can be bet on any of their casino games.

These games include popular casino favorites like roulette, blackjack, and video poker, but their selection also features games like Dice, Treasure Hunt, Crypto Gems, and Under the Aegis.

As the Metaverse grows, we will keep looking at Edgeless to see what kind of innovations they plan to bring to the Web 3 platform.

Peergame

Peergame hosts what they call the Casino 2.0, which is the future of online gambling. Their whole site is based on the BitcoinSV system, and you have to connect a crypto wallet to make deposits—no fiat currencies allowed!

Most online casinos use random number generators to operate their slots and other games, but Peergame uses a complex hashing feature in the Bitcoin blockchain to keep their games fair. They detail the process on their website for the sake of transparency.

Using multiple different cryptocurrencies, you can play an impressive selection of casino games. Most other decentralized casinos have a limited game selection, but Peergame offers a few dozen games, including roulette, blackjack, and slots.

One of Peergame’s core goals is to help evolve the Internet to become a more crypto-centric place, and we anticipate seeing them as part of the Metaverse in the future.

Upcoming Metaverse Gambling Sites

Because the Metaverse is still a relatively new concept, not many providers have had the time to create a decentralized online casino that will integrate with the Metaverse. The aforenoted casinos are the closest we’ve come to true Metaverse gaming, but there are a few projects in the works that bring us even closer to the feeling of a simulated gaming experience.

The Sandbox Game

This decentralized platform is still underdeveloped, but so far, they’ve announced partnerships with Adidas, Atari, and Snoop Dogg. Their game will be more than just a casino but an interactive world. The pinnacle, however, will be the Sand Vegas Club Casino.

MetaHero

MetaHero claims that they will be the “gateway to the Metaverse,” and they seem to offer far more than a Metaverse gambling experience. They’re working on advanced augmented reality software that can scan your body and create an accurate avatar of you in their simulated games and universe. We’re definitely excited to see where this project goes!

Atari Casino

The retro gaming company is working on creating a simulated Metaverse world, complete with a decentralized casino that runs on $ATRI, an Ethereum token. Supposedly, when the casino opens, you’ll be able to play blackjack, poker, slots, and roulette.

Top Places to Find Metaverse Games Now

Currently, most of the Metaverse gaming scene takes place in Decentraland. There are a few virtual casinos in Decentraland, all with different themes and varying game selections. If you’re looking to start your journey into the Metaverse gaming scene today, check out these casinos:

• Tominoya Casino
• Chateau Satoshi
• Serenity Island

Tominoya Casino

The Tominoya Casino is one of the themed virtual casinos you can play at in Decentraland. They opened in May 2021 and blew away Decentraland players with their unique Japanese theme. The casino features Torii gates at the entrance and a blooming cherry blossom tree inside the courtyard.

The casino doesn’t have very many gambling options yet, but you are able to play at a number of roulette and blackjack tables. Plus, they have around a dozen three-reel slot machines. All of the slots are the same, and they emulate the classic Blazing 7s or fruit slots from Vegas casinos.

You can choose to play these casino games for free, or you can bet with MANA for a chance to bring home the crypto bacon!

Chateau Satoshi

Named after the creator of Bitcoin, Satoshi Nakamoto, the Chateau Satoshi features a luxurious art-deco theme. They display NFT art on almost all the walls, with links where you can purchase the art. They also have dedicated shops for wearable NFTs, with everything from Japanese kimonos to Yeezys.

Plus, this casino features a rooftop bar and dance club, making it feel much livelier than some of the other virtual casinos out there.

But, of course, you’re more interested in the gambling! At Chateau Satoshi, you can play roulette, blackjack, and slots, just like at the Tominoya Casino. You can use free-to-play tokens, which can be obtained from the Kirby-looking dealers. If you’re looking to play with real money, you can use MANA or DAI tokens.

Outside the Chateau Satoshi, there’s a floating coin emblem that will take you to the Decentral Games home page or to popular crypto exchanges where you can purchase MANA and DAI for gambling.

Serenity Island

Unlike some of the other virtual casinos featured in Decentraland, Serenity Island feels less like a casino, more like a beach house. Surrounded by sandy beaches and palm trees, Serenity Island is empty most of the time. Most players tend to stick to the mainland, where there’s a lot more going on.

But, if you’re looking for a laid-back Metaverse gaming experience, we suggest you check out Serenity Island.

They offer all the same games as the other casinos—roulette and blackjack premier among them—which you can play with free tokens, MANA, or DAI tokens.

While you’re at Serenity Island, make sure you check out the massive hot air balloon right outside the casino! If you’re lucky, you can take it for a ride across Decentraland.

The Future of Metaverse Gaming

Obviously, there’s still a lot of work to be done before the Metaverse is up and kicking in full force. But there has been significant work done in the past few months to really bring exciting Metaverse casinos to life. Here are some of the most interesting Metaverse projects that we can expect to see in the future:

Sand Vegas Club

The Sandbox is a growing virtual real estate platform like Decentraland, and the Sand Vegas Club is a highly anticipated Metaverse casino that will go up in the Sandbox. We’re not sure exactly what kinds of games they’ll have, but we’re sure we’ll see the classics—poker, roulette, and blackjack. Sand Vegas Club is doing something really interesting, where 50% of their profits will go to their “shareholders,” which are just people who own Sand Vegas Club NFTs. All of the NFTs have since sold out, but it was an effective way for SVC to bring in workable funds to develop their casino.

Astro Casino

El Salvador—that’s right, the country—has commissioned a Metaverse casino with NFT functionality! Astro Babies, the company awarded the contract to construct Astro Casino, noted that the virtual casino will feature a platform to sell and buy NFTs on the Solana blockchain. This Metaverse casino is being built in tandem with a land-based casino in El Salvador that will have a live DJ, VIP lounge, and many popular casino games.

BetVerse Hotel and Casino

This virtual resort allows backers to purchase casino table games, slot machines, and virtual condos as NFTs, which will generate passive income! The Metaverse casino is due to open in Q3 of 2022, with blackjack, poker, roulette, and more than 20 different unique games from crypto partners. As far as innovative Metaverse gambling locations go, BetVerse seems like they’re ahead of their game. They already have a platform for placing risk-free bets, BetU, so in the future, sports betting will probably be a part of their Metaverse offers.

Are Decentralized Casinos Safe?

Cryptocurrency is one of the safest banking options for online gamblers, namely because blockchain technology masks your identity and protects your sensitive information.

In a traditional online casino environment, the casino entity decides what deposit methods you can use, and more importantly, it determines how much money you have to have in your account before you can make a withdrawal. It’s expensive for online casinos to move about so much money, and the idea of a decentralized casino is to reduce the cost to players.

To do this, they allow integrations for crypto wallets. That’s your main banking method: Coinbase wallet, Metamask, etc.

That takes away the casino’s need to monitor player accounts, dictate how much money is enough to withdraw, and limit the size of deposits. Adriaan Brink, the creator of FUN Token, a rising star in the Metaverse crypto sector, says that “decentralization at its core is about reducing the custodial element of online gaming.”

So, yes, decentralized gambling is safe. By limiting the amount of interaction the casino has with player information, users are afforded more privacy and greater security over their funds.

Tips for Metaverse Gambling

• Choose a decentralized casino that has a clear and concise whitepaper. Crypto projects publish whitepapers to give investors/users all the relevant info they need to understand how the project works, and decentralized casinos are no different.
• Sign up for a Metamask wallet. You can easily add it to your browser as an extension to make transactions at Metaverse gaming sites.
• Play games you know. Blackjack and roulette are popular virtual reality casino games that appear in both Metaverse and VR casinos. They’re simple to learn and often pay out big.

Metaverse Crypto Options

The primary way transactions will be completed in the Metaverse is with cryptocurrency. Crypto has gained a lot of popularity in the last few years, with new coins popping up every day.

Crypto does for finance what the iPhone did for the mobile phone industry. Bitcoin, Ethereum, and Litecoin provide a safer way for individuals and businesses to complete online transactions. The blockchain technology that runs each cryptocurrency is decentralized, meaning it’s not routed through any one approval chain.

With credit cards or debit cards, whenever you make a transaction, the bank or credit union is notified of your purchase and has to approve it before your funds can be released.

Cryptocurrency cuts out the dependency on a third-party financial company by sending approval through a network of other crypto users.

As such, transactions are all recorded in a blockchain ledger, but they’re anonymous, which is ideal for online gambling.

Here’s a more in-depth look at the Metaverse crypto that will power this virtual economy:

Bitcoin

Bitcoin is by far the largest cryptocurrency on the market today. On average, there are around 265,000 Bitcoin transactions per day, and users can use it to purchase goods online, use it to finance home or car purchases and play casino games at online gambling sites.

Bitcoin is a peer-to-peer currency that operates on the blockchain, making it very secure.

While Bitcoin transaction times are much faster than those of credit/debit cards or e-Wallets, the confirmation time is still around 10 minutes, and then it might take up to an hour for your funds to appear in your crypto wallet.

Despite being so widely used, the Bitcoin network hasn’t changed much since its emergence in 2009. As such, other cryptocurrencies are able to offer much faster transaction times at a lower cost. Bitcoin mining is also far less profitable than it used to be, and the energy consumption required to mine new coins outweighs the benefit.

BitcoinCash

BitcoinCash is a newer cryptocurrency that is very similar to Bitcoin but runs on its own blockchain. The one main distinction between Bitcoin and BitcoinCash is the latter’s ability to process information and transactions much faster.

The creators of BitcoinCash were concerned that Bitcoin wasn’t going to be able to be appropriately scaled to become the global financial tool it was foretold to be. Part of their concerns arose from the long confirmation time and the packet size for each transaction.

To combat this problem, developers created BitcoinCash, which requires less information for transaction verification, making it much faster than its predecessor.

While transaction times will vary depending on the confirmations needed by the recipient, BitcoinCash generally takes less time than Bitcoin to clear funds, sitting somewhere between 2-10 minutes.

Even though Bitcoin is much more popular than BCH, speed will mean everything in the Metaverse, which is why we can expect to see an uptick in BitcoinCash usage in the coming years.

Ethereum

Ethereum is the second most popular cryptocurrency out there, and it has recently seen a lot of hype because it’s one of the fundamental building blocks of NFTs (non-fungible tokens).

Ethereum was created in 2015, and it runs on its own solidity protocol and operates on a proof-of-work system. Proof-of-work, in our opinion, is an outdated consensus protocol because it requires miners to compete for hash power, which consumes a lot of electricity, making it far less efficient than proof-of-stake models.

However, in 2022, the Ethereum development team is working on transferring the crypto to a proof-of-stake system, which will further reduce their energy consumption. In the past year, Ethereum has already managed to decrease its power consumption by almost 90%, and efficiency of that kind is incredibly important for the future of the Metaverse.

Litecoin

Litecoin ranks up at the top with the most popular cryptocurrencies today. Back in 2011, it was created as a response to Bitcoin’s slow transaction speeds, much like BitcoinCash.

Litecoin is able to generate new blocks in a quarter of the time it takes for Bitcoin to do so, which significantly decreases the transaction times. Not to mention, the lower threshold for verification allows Litecoin to offer a much lower transaction fee.

Where Bitcoin charges around $7 per transaction, Litecoin claims only a few cents.

Litecoin is just a Bitcoin clone, but with a more efficient verification process. For many people, the OG Bitcoin is their top choice simply because it’s the most popular and widely accepted at online casinos and other markets. But, if you’re all about refining the crypto process, using Litecoin is a reasonable first step on that journey.

Dogecoin

Ah, yes, Dogecoin. What started as a meme-coin and Internet joke quickly escalated to become an accepted payment method at many online venues. Software engineers Billy Markus and Jackson Palmer created the joke coin in 2013 as a response to the craze over Bitcoin, Litecoin, and other cryptos.

Only in 2021 did Dogecoin really start to take off, with celebrities like Elon Musk and Mark Cuban popularizing the coin. Powered by Reddit investors, Dogecoin’s price rose 3100% in 2021, hitting its all-time high of 30 cents in April.

Today, you can use Dogecoin to tip online content creators, exchange it for other cryptos, and purchase tickets to sports games. Plus, most importantly, you can use it to make deposits at certain online gambling sites.

When the Metaverse comes out in full swing, we expect to see a rise in the number of people using Dogecoin for Metaverse gambling and to purchase in-world items like NFTs.

The Current Value of Bitcoin

The Current Value of Litecoin

The Current Value of Ethereum

Full Metaverse Crypto List

Metaverse Tokens vs. Metaverse Crypto

The introduction of the Metaverse into the public consciousness also brought with it some confusion around the terminology. What is the Metaverse? What does a simulated reality look like? One of the biggest questions is about Metaverse tokens: what are they and are they different from crypto?

In short form, Metaverse tokens are minted on an existing cryptocurrency blockchain and used exclusively—or not—at Metaverse locations. In some ways, tokens are crypto, but not the crypto you’re used to.

If you don’t understand, don’t worry! Let’s take a closer look:

There’s an important distinction between tokens and coins, both of which operate in the crypto space but are completely different entities.

Tokens are minted on an existing blockchain, but they retain their own value separate from whatever blockchain they use. For example, Chainlink (LINK), a popular cryptocurrency, was a token minted using the Ethereum network, but its price is not related to the price of Ethereum.

(Ethereum’s ERC-20 tokenizing protocol and smart contract functionality make it much easier to create tokens than if you were using Bitcoin’s blockchain. For this reason, almost all tokens are created using ERC-20).

Coins, on the other hand, are independent entities that function on their own blockchain ledger. Bitcoin and Ethereum are known as coins because they’ve both set out strict rules about how they are to be used. In a general sense, crypto coins are used as money, while tokens can have many different functions.

Metaverse tokens are designed to be used at specific online venues, like Metaverse casinos or stores. SAND was minted using ERC-20 and is the token currency for the whole Sandbox project, including their Metaverse casino. There’s a finite supply of SAND tokens (3 billion), and you can purchase them using Ethereum. These tokens have no value outside of the Sandbox Metaverse world, just like your Chuck E. Cheese tokens don’t work at Starbucks.

At the end of the day, Metaverse tokens are a branch off of popular cryptocurrencies, and they’ll be used to regulate Metaverse economies.

Where Do NFTs Fit In?

Non-fungible tokens, referred to as NFTs, are tokens minted on the Ethereum blockchain. They’re one-of-a-kind, and can’t be traded, hence their title as “non-fungible.” Tokens or crypto coins hold an equal value (you can exchange 1 ETH for 1 ETH, and they’ll always be the same price), while NFTs never have the same value.

NFTs have gained a lot of popularity in the past year, and they’re still growing, especially with the Metaverse getting closer by the day.

But what exactly is the purpose of an NFT in the Metaverse?

From the information that’s been released about the Metaverse and from the tests already being done in simulated realities like Decentraland, NFTs will be the prime mechanism for customizing your avatar.

In the Metaverse, you’ll have an augmented version of yourself, which you can purchase clothing, shoes, and accessories for, all of which are NFTs. These tokens are similar to the Metaverse tokens we described earlier, but where those tokens essentially function as money in their respective Metaverse worlds, NFTs will act as items, traits, and accessories purchasable with those tokens. And as the name implies, they’ll be untradeable.

As the Metaverse starts to become a reality, we’ll have more concrete information about how to purchase Metaverse NFTs and exactly how they’ll be used. But from our understanding now, a Metaverse NFT could be anything from a bowler hat you put on your character at the virtual poker table or a fancy wristwatch you put on your avatar at the diner club.

Top Metaverse Tokens (and the Rising Stars)

As we mentioned, Metaverse tokens will primarily be used at specific venues within the Metaverse, such as casinos, shops, or arcades.

There are already some of these virtual spaces up and running today, and they function on their own tokens.

These include:

• Decentraland – Uses MANA token
• Decentral Games (the gambling section of Decentraland) – Uses $DG tokens
• EarnBet.io – Uses BET tokens
• The Sandbox – Uses SAND tokens

Other companies are quickly working on developing virtual spaces and Metaverse crypto games that will run on specific tokens. Atari, for example, is creating a Metaverse casino that will run on $ATRI tokens.

Here are some of the other top Metaverse tokens you can look into:

• Axie Infinity – AXS
• Illuvium – ILV
• Vulcan Forged PYR – PYR
• Mines of Darlania – DAR
• High Street – HIGH

Crypto Exchanges and Crypto Wallets for Metaverse Gambling

If you’re not familiar with how crypto transactions work, no worries! Getting started with Metaverse gambling will require a few things aside from hardware equipment:

• An account at a cryptocurrency exchange
• A crypto wallet
• The crypto you want to spend

As we mentioned above, most of the Metaverse’s primary functions will run on cryptocurrency, so without it, you’ll probably just be wandering around this virtual world without much of a clue of what to do.
If your primary goal is to gamble in the Metaverse, here’s a step-by-step to establishing your crypto bankroll:

Step 1

Sign up at a cryptocurrency exchange. Crypto exchanges are online marketplaces where you can buy, sell, and trade crypto for both fiat currencies and other cryptos.

Some of the most popular crypto exchanges right now are Coinbase, Gemini, and Binance. When you sign up for an account at one of these exchanges, you’ll have to provide a good deal of verification info. This might include your:

• Social security number
• Copies of your state or federal photo ID/driver’s license
• Bank account or PayPal information
• Full name
• Email
• Address

All of these requirements are to ensure the integrity of the platform. Once you’ve submitted all the necessary documents, you have to wait for verification. This can take anywhere from a few minutes to a few days, depending on the volume of people creating accounts and the accuracy of the info you provided.

Step 2:

Fund your account. Once you’ve received verification, you can then proceed to deposit funds into your crypto exchange account.

You can do this with a routing and bank account number, a credit/debit card, or PayPal. We suggest PayPal, just because it’s the fastest method.

Step 3:

Purchase crypto. Most crypto exchanges have lots of different altcoins and crypto to choose from, but if you’re planning on using it to gamble at an online or Metaverse casino, stick with one of the big three: Bitcoin, Ethereum, Litecoin. They are the most widely accepted.

Simply enter the amount of crypto you’d like to buy as either a token amount or dollar amount and hit submit. The exchange will take a fee for each purchase, but it’s not very large.

Step 4:

Protect your crypto in a wallet. Crypto wallets are like virtual safes for cryptocurrency and NFT assets. They provide an enhanced level of protection for your assets and come in both software and hardware variations.

A software wallet is based online and is secured with enhanced encryption technology. Hardware wallets are more like super powerful USB sticks, and they provide advanced protection since they’re only connected to the web on a limited basis. For someone just starting out with crypto, we suggest using Metamask, or Coinbase’s integrated wallet, Coinwallet.

A crypto wallet will also provide you with a unique ID that you can use to make purchases and receive funds. This is how you’ll move crypto back and forth in the Metaverse.

Step 5:

Make Metaverse transactions. No one is exactly sure how the integration of crypto wallets and the VR Metaverse is going to work, but we assume it will be pretty simple. The complex login procedure for crypto wallets might become a problem in a VR world, as will sharing long wallet ID codes.

All we can say is we’re certain that collectible NFTs and cryptocurrency will rule how transactions are made, whether they’re for gambling or paying virtual rent.

When Will the Metaverse Become a (Virtual) Reality?

Experts say that the Metaverse won’t come to full fruition for at least another five years and won’t reach its peak until about a decade out. There’s certainly a lot of hype for the Metaverse even though its launch is far in the future.

But there are elements of the Metaverse that are available today. That’s right, you can hop into the preliminary Metaverse simulated world right now.

Late last year, Meta released an open-world simulation for their Oculus Quest headsets called Horizon World. In this virtual reality, you’re able to:

• Customize your avatar
• Play games like Arena Clash and Pixel Plummet
• Take a virtual broomstick tour over Townscity

The current features are limited, but it gives users a taste of what’s to come. But we are concerned with the synergy Zuckerberg originally proposed in October. Players with the Quest 2 are the only ones able to access Horizon Worlds right now, and there’s no word on whether players with other VR headset brands will be able to access the Metaverse.

For gamblers, Horizon Worlds doesn’t have much to offer. Thankfully, the decentralized Metaverse casinos like Decentraland and EarnBet.io are open for business from all kinds of players, regardless of headset or no headset.

We’ve already seen a huge uptick in Metaverse gambling interest, so we’re hopeful that in the future, Metaverse casinos will become even more popular.

For now, keep an eye out for upcoming projects like The Sandbox and MetaHero!

Metaverse Terminology

Metaverse Gambling FAQ

About the Author

Isaac Payne Author

Isaac E. Payne is an experienced technical blogger, creative writer, and lead content manager at GamblingSites.org. As a published author, he enjoys finding interesting and exciting ways to cover any topic. In his four years on the team, he has covered online gambling and sports betting and excelled at reviewing casino sites. In his free time, he enjoys playing blackjack and reading science fiction. 

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