The Best NEO Casinos in 2022
NEO and GAS tokens operate on NEO, the China-based, open-source blockchain platform. On top of being an integral part of the project’s aim to create a smart economy run on cryptocurrencies, these tokens are now used to gamble, too. Here, our experts look at everything related to the two altcoins. You can also find the best NEO GAS casinos right below!
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What Is NEO GAS?
NEO and GAS are two cryptocurrencies that operate on NEO, an open-source, community-driven blockchain platform. As such, like all other cryptocurrencies, NEO and GAS only exist in a digital format, but they form part of the overall aim of the project, which is ‘to be an open network for the smart economy’.
Let’s look at what all this means in a bit more detail.
First, let’s talk about the platform. NEO, which was originally known as AntShares, was created by Da Hongfei and Erik Zhang in 2014 with two aims: to support its own cryptocurrencies and to handle the development of digital assets and smart contracts. For anyone who is savvy in cryptocurrencies: if this sounds very much like Ethereum, it’s because it is. In fact, NEO is often referred to as ‘the Chinese Ethereum’ – although at up to 10,000 transactions per second, NEO is much faster than most other platforms, making casino transactions lightning-fast.
Second, let’s talk about the cryptocurrencies that drive this platform. As we’ve seen, NEO is a dual-token system, and supports NEO and GAS tokens that are generated on the Genesis block. Both of these tokens are capped at 100 million units each, and there are currently 70 million NEO tokens and 10 million GAS tokens in circulation. But, what’s the difference?
In so many words, NEO tokens give users the right to govern the NEO network, while GAS tokens allow users to pay for the service.
- While both cryptocurrencies can be purchased, you cannot buy them using fiat currency. Instead, you will need to exchange fiat currency for a cryptocurrency like Bitcoin, and then purchase the NEO or GAS tokens in that way.
- Most NEO GAS casinos only have NEO listed as a possible payment method.
Next, we take a look at how these two tokens operate in a casino context, but you can find out more about how the whole NEO system works by watching the video by Layah Heilpern below. Alternatively, if you've got time to spare, Donald Lee gives a more detailed explanation.
What Are NEO Casinos?
NEO casinos are online (and mobile) casinos that accept deposits and withdrawals in NEO tokens. To make such payments, you will need to have a cryptocurrency wallet that supports this specific token – something we explore in our ‘How to Deposit and Withdraw Using NEO’ guide.
Moreover, while NEO casinos are usually new online casinos, they will feel and look very similar to the more traditional casinos, so you can expect to find a wide variety of casino games, casino bonuses, and so on.
How Do the Best NEO Casinos Work?
NEO casinos work much in the same way as all other online casinos do, utilising specific software that runs and oversees the games to ensure safety and fairness to both players and the casino itself.
What’s important to remember is that these casinos are still subject to local laws and legislation, which is dependent on the jurisdiction that has awarded their licence. In other words, while a Curaçao-licensed NEO casino may be legal, it is still illegal to sign up and play if you’re based in the UK or Sweden, but totally fine if you’re playing from most countries in Europe.
Pros and Cons of Using NEO
Looking for the advantages and disadvantages of NEO GAS gambling at a glance? Here it is!
- Speed: NEO and GAS transactions are super fast, as the platform can handle up to 10,000 transactions per second.
- Low fees: Most NEO transactions cost very little.
- Security: NEO, like all other blockchains, is especially secure. So while a hacking attempt could happen, it’s much harder to access the system.
- Growth in value: In early 2020, the price of one NEO was below $10 (- €8.51), but by September 2020, each NEO was worth $25.90 (€22.05).
- Not common: Most online casinos do not accept withdrawals and deposits in NEO or GAS just yet.
- Not wholly anonymous: While transactions with NEO record your private NEO address rather than your name, it is not as anonymous as transactions using most other cryptocurrencies.
- Value can drop: NEO’s worth can increase and it may also decrease.
- Legality: Not all countries allow players to use cryptocurrencies to gamble, and that includes using NEO and GAS tokens.
How to Deposit and Withdraw Using NEO
If you have NEO tokens that you’d like to use at your favourite NEO casino, then you’ll be happy to know that it’s actually quite a straightforward affair. Below we give you a complete step-by-step guide on how to do it, but if you already have your NEO cryptocurrency wallet set up, then just skip to Step 2 in the Deposit section.
How to Deposit Using NEO
If you’d like to start playing using NEO tokens, then you will need to deposit funds. Here’s how to do it:
- First things first: you’ll need to sign up to a crypto casino currency wallet that accepts NEO. Most of the famous ones (like CoinsPaid) don’t allow you to make transactions using NEO and GAS. But fret not, as there are numerous that do, including NEON Wallet, Bitfinex, Ledger Nano S, NEO GUI, NEO Tracker, Ansy, and NEO-CLI. Be aware that when you’re signing up, you will be asked to verify your identity.
- Once that is done, it’s time to sign up to one of the legal and licensed NEO casinos from our Top List above.
- Head to the casino’s Banking or Cashier page, and choose ‘NEO’ as your preferred method of choice. Keep in mind that this may be under ‘Cryptocurrencies’.
- The NEO casino will then give you its address (also known as public wallet number), which will be made up of numbers and letters all jumbled up. You will need to copy this before heading to your NEO wallet.
- Once you've accessed your wallet, set up a transfer, paste the address, select how much NEO you wish to transfer, and confirm.
- The money should appear instantly in your account, so you can start playing straight away.
How to Withdraw Using NEO
Once you win, you’ll certainly want to withdraw your funds so you can use them for other things. Here’s how you can do it:
- Head to the Cashier or Banking section on your NEOGAS crypto casino, and go to the Withdrawals section.
- Choose ‘NEO’ as your withdrawal method of choice (it may be under ‘Cryptocurrencies’).
- Input the amount you’d like to withdraw, followed by your public wallet number. Once done, confirm the withdrawal.
- The funds should be in your NEO wallet instantly or within a few minutes.
Are There Any NEO Fees and Limits?
Like all other cryptocurrencies – and some traditional payment methods, too – NEO gambling comes with some fees.
The NEO platform charges a small percentage of your NEO transaction in GAS tokens. This basically pays all the people who oversee the decentralised system and make sure your crypto assets are kept safe and secure.
When depositing, that fee is paid by you, although when you’re withdrawing, it may be paid by the casino. Nevertheless, some NEO GAS casinos may deduct it from your withdrawing amount. This fee, however, is very small, and shouldn’t cost you more than a few cents in fiat money.
Games at NEO Casinos
Players at online NEO GAS casinos can expect to find all their favourite games, including poker, video slots, roulette, baccarat, blackjack, and live dealer casino games. While these are available, they are usually played using a fiat currency, as most game developers have not yet developed NEO GAS casino games like they’ve done for Bitcoin casinos, Ethereum casinos, and Litecoin casinos.
Even so, that is beginning to change, with some casinos providing NEO GAS Minesweeper and dice games, already – though these are still quite difficult to find.
Best NEO Casino Bonuses
Although you’ll struggle to find a bonus that is paid out in NEO or GAS tokens, players using NEO to play can still expect to receive a casino bonus (in a fiat currency or in Bitcoin) when they first join a casino and as appreciation token for their loyalty. These bonuses can include welcome bonuses, reload bonuses, cashbacks, and free spins.
As always, do take the time to read the casino’s and each bonus’s terms and conditions beforehand to avoid any unwanted surprises.
Safety and Security at NEO GAS Casinos
Safety and security at NEO GAS casinos is largely similar to that of more traditional online casinos, so you can rest assured that so long as you choose a reputable casino brand for your NEO gambling, your money and personal data will remain safe.
As in all other cases, a legal NEO GAS casino needs a licence from a reputable jurisdiction like Curaçao. Such credentials hold the casino to account not just on fraud, money laundering, and criminal activity, but also in keeping you safe and to promote responsible gambling.
Always keep the above in mind when it comes to keeping yourself secure, not only when you join a NEO GAS casino but when gambling online in general.
The vast majority of NEO GAS casinos also accept a wide variety of other payment methods. Among these are the usual credit cards, e-wallets, internet banking, and the paysafecard, all of which are safe to use. That said, players can also make use of other types of crypto payment methods, including:
NEO Casinos Summary
Although NEO is not as popular as Bitcoin, Litecoin, and Dogecoin, it is slowly reshaping the way people can create and distribute assets through the use of smart contracts. This, in our opinion, is paving the way for the altcoin to become much stronger in the future and could, in a few years’ time, cause it to become a major player in the online casino world.
NEO and GAS are actually two different types of cryptocurrencies that are connected through the blockchain platform they use, which is also called NEO. Their main aim was to facilitate the creation, storage, and distribution of digital assets.
The best NEO GAS casinos are among those that operate legally and through a reputable licence. We mention some in our list above.
Because the NEO blockchain platform can handle thousands of transactions per second, both withdrawals and deposits should take mere seconds to be effected.
This depends on where you are playing from. The majority of European countries, as well as some nations in Asia and Africa, do not have an issue with players gambling using cryptocurrencies, including NEO gambling. In the UK, however, the practice is illegal.
So long as you opt for a legal and licensed NEOGAS crypto casino, then gambling using the altcoin is actually safer than doing so using the majority of other payment methods.
Yes, all NEO GAS transactions come with a small fee. When withdrawing, this fee may be paid by the casino, but some may actually charge you personally. However, this fee should never be more than a few cents in fiat money.
Yes, most casinos will still award you your bonus. It’s good to note, however, that numerous NEOGAS casinos will exchange your NEO tokens for a fiat currency once you make a deposit.
This depends entirely on the casino you choose. Nevertheless, most casinos prefer if you stick to the same payment method for both withdrawals and deposits.
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