Sports Betting: Meme Coins Getting More Popular

Samu-Ville Lampiranta
By Samu-Ville Lampiranta
Sports & Casino Expert
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Updated Dec 6, 2022
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Read time 11 min

With the increasing popularity of sports betting, meme coins are becoming more and more common in the gambling industry. But what are meme coins, and how do you get your hands on some? Most importantly, what can you do with them? Read on to learn more about the top meme coins and how to start playing with them. 

What Is A Meme Coin? 

Over the past couple of years, numerous projects have been launched that would fall under this category of digital currencies – the meme coin list is really, really long. That might feel confusing if you are not too well-acquainted with meme coins, so here’s a short recap of these tokens. 

Meme coins are cryptocurrencies that are based on memes. The first true meme coin is Dogecoin, based on the famous doge meme starring a cheeky Shiba Inu dog. Most of these projects have started as jokes and have no real value or use unless you manage to benefit from the potential price increase. 

Regarding sports betting, meme coins are yet to be the most common cryptocurrencies. According to the software provided SoftSwiss, Dogecoin is the fourth most popular cryptocurrency among gamblers, though it has only a 2.9% market share. 

Dogecoin, Shiba Inu, and Dogelon Mars are arguably the most important meme coins, or at least they are the biggest ones by market cap. When you want to use these types of cryptocurrencies for gambling, you will likely find the following meme coins on sportsbooks and casinos. 

Dogecoin 

Dogecoin started the whole meme coin scene when Billy Markus and Jackson Palmer launched it in 2013. The whole project was a funny joke until Elon Musk started tweeting about it, and suddenly the whole currency exploded. 

Dogecoin is the biggest meme token by market share, so it is probably not a surprise it is also the most common gambling, sports betting meme coin. You’ll have no trouble finding casinos and sports betting sites supporting Dogecoin. 

Shiba Inu 

Shiba Inu is another meme token that uses this dog breed in its name and logo. Shiba Inu, launched in 2020, intends to take over Dogecoin as the number one meme coin. So far, the efforts have fallen short. 

Even so, it has become the second-largest coin in this category. Shiba Inu is also planning to establish a stablecoin, and the project is headed for the NFT markets as well. There are some big plans, but only time will tell if they ever materialize. 

Dogelon Mars 

Dogelon Mars might not be the newest meme coin, but it is arguably one of the most notable ones to be launched since Dogecoin and Shiba Inu. The inspiration for this one is pretty obvious: Elon Musk and his efforts to inhabit Mars

Dogelon Mars is the third-largest meme token by market cap. Even though it is not the most popular sports betting meme coin yet, it might be on its way there. We would guess that more gambling sites will soon adopt Dogelon Mars. 

Are Sports Betting Meme Coins Popular?

When discussing the popularity of meme coins and betting, you should first note that these tokens are also used for other purposes. The primary purpose is price speculation, but some retailers also accept Dogecoin and Shiba Inu. 

Cryptocurrencies are also becoming more common on gambling sites. Only a few years ago, casinos accepting any cryptos were more of a peculiarity, but now there are dozens or even hundreds of sites accepting them, meme coins included. While meme coins are still far from being the number one choice for punters, they are becoming more popular. 

What Games Can You Play With Meme Coins? 

When talking about the game selection available when gambling, meme coins and other cryptocurrencies are pretty much even. While there are some casino games and slots you can play directly with cryptocurrencies, in many cases, you need to convert your crypto deposit into a fiat or game currency to play. 

In terms of sports betting, meme coins enjoy a different position. Some bookkeepers allow you to place bets directly with Dogecoin, Shiba Inu, or other meme coins. In contrast, others might allow only deposits that are then exchanged for fiat currency to place bets. 

Sports Betting With Meme Coins

It doesn’t really matter whether you are into tennis, basketball, baseball, soccer, or football betting; you can use meme coins for wagers. There is no shortage of betting sites accepting cryptocurrencies, and usually, these sites accept at least one meme coin as well. 

Sports betting and the number of cryptocurrency users are growing steadily, so it makes sense that the share of bets made with cryptos is also growing. So far, dogecoin has dominated the sports betting meme coin market, but will the situation remain the same in the future? It is hard to say, but it looks like it will face much more competition. 

Traditional Casino Games And Slots

Casino games and slots are abundantly available in nearly all online casinos. Many casinos accepting cryptocurrencies have a special category for games that are designed explicitly for cryptocurrencies. 

Most big casino game developers don’t yet directly support cryptocurrencies, but that will likely change in the coming years. It only makes sense to offer crypto games when an increasing number of players use cryptos, and the big names know this. 

Claiming Bonuses With Meme Coins

Many players consider bonuses the number one reason online casinos beat land-based ones. Bonuses are great for added playtime and entertainment, but before you jump in and claim your first bonuses, get familiar with the most common bonuses casinos offer. 

Deposit bonuses 

Deposit bonuses are possibly the most common type of bonus you’ll find online. Whether you are into bingo, casino gambling, sports betting, meme coin deposit bonuses are likely available on any given site accepting cryptocurrencies. Deposit bonuses are generally marked as percentages, meaning a 100% bonus will provide you with exactly the same amount you deposited as bonus money. 

For example, if you claim a 100% bonus up to $100, you can start playing with $200 – your $100 deposit and the $100 bonus. The maximum amounts and bonus percentages depend on the offer, so be sure to check them before you make the deposit. 

The terms and conditions for deposit bonuses vary wildly between different sites, and you should know at least the wagering requirements and whether the winnings are capped. Even though reading through the terms can feel tedious, it is worth the few minutes it takes to read them. 

Free spins

Free spins are just like they sound, free spins in a specific game. The casino often chooses the game, but in some cases, you can pick the game yourself from a limited selection. Free spins come in different forms, so you should know what you are getting into before you claim your spins. 

One key thing to note when claiming some spins is whether the winnings are paid in cash or as bonus money. In the latter case, you will need to wager the winning before withdrawing your winnings. If you are paid in cash, feel free to withdraw your potential winnings straight away. 

Another thing you should be aware of is the winning cap, as free spins winnings are often limited to a set amount. If you win more, the amount exceeding the limit is simply removed. Just like with deposit bonuses, you should check out the terms before you make any decisions. 

Gambling With Meme Coins Is Becoming More Popular

As both the gambling and crypto industries are growing year after year, it is safe to say that gambling with meme coins will also keep growing. The latest crypto winter has been sending shocks throughout the industry, but it might be a good thing in terms of gambling with meme coins. 

As the prices are rising slowly, it might be a good time to try combining sports betting, meme coins, and casino games. If you get lucky, you can hold onto your winnings and wait for the next crypto spring to come after the long, cold winter. 

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Samu-Ville Lampiranta
Samu-Ville Lampiranta
Sports & Casino Expert

Samu-Ville knows the ins and outs of online gambling having worked in the industry since 2013 in various roles from customer support agent to content writer and manager. He knows how to look at casinos and sports betting sites from both sides of the fence, and uses his experience to give his articles a unique view from the inside.