Play to Earn Casinos Review | How to Earn Crypto at Metaverse Games

Many of us have considered making money at an online casino. Unfortunately, casino games are designed in such a way that the player will inevitably lose over time. That is why purported casino winning strategies are unable of delivering satisfactory results.

The emergence of cryptocurrencies, the metaverse, and the whole Play to Earn area makes it possible to profit from online casinos. Nevertheless, P2E gambling has many nuances that one should know about before playing and earning crypto at an online casino.

What Is Play to Earn Casino in Metaverse?

Play to Earn (P2E) is a big trend in the crypto space, enabling anyone to make money by playing online games.

P2E games are not necessarily free-to-play. For example, you may be required to buy a non-fungible token (NFT) in order to access the game. Still, many developers provide alternative routes to start playing and earn crypto with no upfront capital.

It's only recently that the P2E model has been introduced to online gambling. Naturally, it all started with crypto casinos, since cryptocurrencies are an essential part of P2E. You could reasonably expect a casino not to work against itself, but in the described scenario, both the operator and the players can make money.

The metaverse is a three-dimensional virtual world where users can interact with each other. The metaverse features reproductions of various real-world objects, including casino venues. The concept of a metaverse has been around for many years and got particularly interesting lately. A full-scale virtual world not constrained by state borders is now feasible thanks to the development of cryptocurrencies and decentralized technologies.

Several metaverse worlds have been created to date, each featuring its own unique objects. Those interested in metaverse casinos and Play to Earn casinos should check out Decentraland first. Based on the Ethereum blockchain and the Polygon L2-network, it has assembled the highest number of three-dimensional crypto casinos in the metaverse.

Keep reading our guide to learn how to earn crypto at a P2E casino with all the advantages and disadvantages of this method.

ICE Poker - #1 P2E Casino in Metaverse

Among other things, Decentraland hosts the ICE Poker casino from Decentral Games. The studio is backed by such giants of the crypto industry as Digital Currency Group and Binance. No wonder ICE Poker is the most visited area in Decentraland – 60% of the users come there. Prior to the introduction of the P2E model, ICE Poker struggled to attract 200 users per day. Now their number can easily exceed 12,000.

As the name suggests, the main point of interest at ICE Poker is P2E poker. There are two game modes: with 3D characters in the metaverse or via a simplified browser interface akin to traditional online poker.

Like with other poker games, you have to rely on your skill and luck to win at ICE Poker. Playing in ICE Poker free tournaments, you can earn an in-game cryptocurrency ICE and upgrade your NFT. The ICE Poker NFTs, however, are where things are getting complicated.

How to Get ICE Poker NFT

An NFT is a unique token representing images or items in a decentralized blockchain network. ICE Poker employs NFTs for wearables that you can put on your characters in Decentraland. At least one NFT is required to participate in ICE Poker tournaments and earn ICE tokens.

There are two ways to obtain an ICE Poker NFT.

Buy ICE Poker NFT at OpenSea

At the time of writing, the floor price of NFTs from the Decentral Games ICE Poker collection is 0.237 ETH or $392. Only two months ago, the same NFTs were selling for 0.86 ETH or more. The decline in USD value and other fiat currencies was even more substantial due to the drop in the ETH price. On the one hand, this has lowered the entry barrier for joining ICE Poker. On the other hand, this is another reminder of how unstable NFTs can be.

That said, the future value of ICE Poker NFTs is far from guaranteed. What is also noteworthy, the ICE token used to pay out tournament rewards and the Decentral Games (DG) token have lost most of their value in recent months. Thus, buying an ICE Poker NFT, you have to accept risks, while your success depends primarily on the market rather than your poker skills.

ICE Poker NFTs are ranked by levels that determine your tournament rewards. Therefore, if you want to spend time at ICE Poker more efficiently, you will have to buy multiple NFTs at higher prices. A minimal investment into ICE Poker is only enough to open up tournaments with significantly limited winning potential.

Rent ICE Poker NFT from existing holders

Alternatively, you could take a less risky route by renting NFTs from their existing holders. NFT owners are incentivized to rent out their tokens to players in order to collect a portion of the tournament rewards. Conversely, players get the opportunity to play and earn cryptocurrency without having to buy an NFT and put their own money on the table. Players collect 60% of the rewards, while NFT owners receive the remaining 40%.

Renting is an official feature of ICE Poker provided in the project's Discord. However, it is not as easy as it seems. You have to convince NFT owners that you are the right person to bring them the highest profit. The demand for rental NFTs is much higher than the supply. Most applicants claim to be poker sharks with at least a 5-year track record of success. Thus, getting a free ICE Poker NFT may be problematic even for a highly-skilled player.

How Much Can I Earn at P2E Casino

Iceyyy, one of the top players at ICE Poker, used to make $200 per hour at the highs of the ICE token price. In August 2022, he revealed that he had played over 150 hours in the last three months and earned 95,000 ICE. This amounts to $732 or a mere $4.81 per hour at the current exchange rate.

Average players without costly NFTs and experience can anticipate earning much less in P2E casinos. That's to be expected in the current market environment. The price of ICE continues to plummet, and no one knows if the bottom is in. ICE Poker NFTs also lose their attractiveness and value. And since NFTs are typically less liquid than regular tokens, finding a buyer may become a challenge.

Unfortunately, this is the fate of most P2E projects. One of the most striking examples is sensational Axie Infinity with its AXS token losing more than 90% of value over a few months.

P2E projects distribute their tokens for free, and players sell them without a second thought. Developers often try to entice new buyers by promising additional perks for token holders. However, the task of balancing supply and demand is yet to be addressed in the Play to Earn economy, and P2E casinos are no exception in this regard.

What Casino Games Can I Play in Metaverse

The selection of casino offerings in the metaverse is not limited to ICE Poker. You may also visit the following casinos of Decentraland:

  • Chateau Satoshi;
  • Tominoya Casino;
  • Serenity Island;
  • DEXT Poker Lounge;
  • Bored Ape Yacht Club Casino;
  • Atari Casino.

Each metaverse casino in the list has a distinctive style. Atari Casino is of particular interest since it was created with the participation of Atari, one of the gaming industry's leading companies.

The games are, for the most part, the same. You will encounter various classic table games like poker, blackjack, and roulette in the metaverse. Some developers have begun creating metaverse slots, but you shouldn't expect too much. Atari Casino also offers retro arcade machines featuring the company's classic video games.

Most metaverse casinos are based on the Ethereum blockchain and its second layer networks, such as Polygon. Therefore, they accept cryptocurrencies of respective networks, including ETH, DAI, and Decentraland's own token MANA.

How to Start Playing at Metaverse Casino

If you are an experienced Web3 user and a gambling enthusiast, you will have no problems dealing with metaverse casinos. For everyone else, here's a quick guide to gambling in the metaverse.

Install MetaMask

MetaMask is a web browser extension that connects your crypto wallet to decentralized applications (DApps), including metaverse casinos. With MetaMask, you will be able to interact with Web3 services, such as Decentraland, ICE Poker, etc.

Buy Crypto

Cryptocurrency serves two purposes in a metaverse casino. Firstly, you need it to place bets. Secondly, most actions in Web3 require you to pay a fee. At decentralized casinos based on the Ethereum blockchain, you pay fees in ETH, and to play in the Polygon network, you need MATIC tokens. This is an essential point because you will not be able to place a bet without funds to pay fees.

There are various trustworthy exchanges where you can buy crypto, of which Binance and Coinbase are probably the best. Then you need to transfer crypto to your wallet address displayed in MetaMask. There may also be additional steps, such as buying an NFT, like in the ICE Poker scenario.

Choose a Metaverse Casino

When choosing a casino in the metaverse, you should also be careful. Although no fraudulent projects have been identified among them yet, they have some differences. Consider such points as available games and the Play to Earn functionality if that's important to you.

Best Metaverse P2E Casino Alternative

The metaverse has become a massive trend over the last year after the world's largest corporations have jumped on the bandwagon. Despite their multi-million dollar investments, the metaverse looks more like an interesting experiment rather than a viable alternative to our everyday reality so far. This includes both low-quality visuals, as if they were taken straight from the computer games of the 90s, and limited functionality.

Hopefully, the metaverse projects will continue to develop and reach an implementation acceptable to the average user. In fact, the same applies to P2E casinos. Until that happens, we suggest you consider well-established alternatives to metaverse P2E casinos. Let's compare them using LTC Casino as an example.

Metaverse P2E Casinos LTC Casino
Few games Hundreds of games, including slots, poker, roulette, blackjack, and live dealer tables
Obsolete graphics Games created by the leading studios in the online gambling industry, ensuring high-quality graphics and exciting gameplay
Issue inflationary tokens that depreciate over time Accepts time-tested cryptocurrencies that always grew in value over sufficiently long distances in the past: Bitcoin, Ethereum, Litecoin, Dogecoin, XRP. Also accepts USDT, a stablecoin pegged to the US dollar
Instant payouts Instant payouts
Anonymous, no KYC Anonymous, no KYC
May lock access from certain regions by IP Unlimited access from all regions
VPN accepted VPN accepted and appreciated
Require fees to place bets No extra fees for players
Require additional software. Impossible or hard to play on mobile devices Play via a standard browser on your desktop or mobile device without any additional software

What's more, the only game that has been adapted to the P2E casino model so far is poker. And as you may know, the heyday of online poker is long gone. Over time, the average level of players has grown so high that even with decent skills, you can expect only mediocre rewards. Remember the example of Iceyyy above.

One should understand that earning crypto in P2E, including P2E casinos, is not tantamount to earning crypto without investments. Add the risks of buying NFTs and the difficulties of interacting with Web3. Now it should be easy to see how an attempt to earn crypto at a P2E casino may actually lead to a loss.

LTC Casino, for its part, guarantees the highest possible return to player (RTP) in all games on our website. Most slots and table games have an RTP in the range of 94-98%. In other words, if you are an aspiring poker player, your odds with LTC Casino games will be even higher. And if you prefer to stick with poker, there are plenty of options to choose from at LTC Casino. We offer different kinds of live dealer poker and video poker games with equally high RTP.

Online Casino in Virtual Reality

The metaverse and virtual reality are synonymous for many. You can use a VR system to enter metaverse worlds and play at their casinos. However, interacting with poorly rendered 3D models may be the last thing you want to do. LTC Casino has something much more intriguing in stock.

At LTC Casino, you can experience Gonzo's Treasure Hunt – the world's first VR-enabled casino game show! All you have to do is connect the headset and activate the VR mode in the game. Then, you will find yourself in the studio with the host and treasure hunter Gonzo ready to explore the ruins of El Dorado. An online casino in virtual reality provides an unrivaled immersive experience in a 360-degree environment. To make it possible, Gonzo's Treasure Hunt incorporates augmented reality elements with stunning graphics.

The gameplay in Gonzo's Treasure Hunt is also one of the best of its kind. You place bets on different treasure stones with multipliers up to x65 and then need to guess their location on the wall. In addition, the game features extra multipliers that may be randomly assigned to positions on the wall. As a result, the maximum payout in Gonzo’s Treasure Hunt with Bitcoin can reach an impressive 25 BTC.

How to Start Playing at LTC Casino

Playing at LTC Casino is much easier than at a regular metaverse P2E casino. Here is all you have to do:

  • 1. Sign up at LTC Casino. You only need to provide an email address and a password. Like decentralized casinos in the metaverse, we do not collect personal data.
  • 2. Make a deposit. You can send crypto directly from an exchange without having to set up a standalone wallet. You don’t have to purchase any NFTs either. As a result, you can make a deposit of any size. It can be several times higher or lower than the NFT price in the example above.
  • 3. Enjoy your favorite games. The only problem you may face at LTC Casino is when picking a game to play because the number of top-notch slots and table games is truly overwhelming. A small tip: after opening a game, you can activate a special mode to play two or even four games on the same screen!

The P2E casino industry in the metaverse is only gaining momentum. Stop waiting – dive into the exciting world of online gambling with the most user-friendly conditions at LTC Casino!

Frequently Asked Questions About Metaverse P2E Casinos

How much can I earn at a P2E casino?

Payouts at P2E casinos depend on the initial investment amount, your skills, and the market trend. At the current stage, at best, it is a few dollars an hour. On the other hand, at crypto casinos like LTC Casino, winnings depend solely on your luck and can easily exceed the initial bet thousands of times.

Can I earn crypto at a P2E casino for free without investments?

Yes, but having upfront capital greatly simplifies the process. The initial deposit for earning crypto at a P2E casino typically starts from $300.

What cryptocurrencies are accepted at metaverse casinos?

Metaverse casinos accept the dominant crypto assets of the Ethereum blockchain, such as ETH, USDT, and DAI. In addition, they may rely on platform-specific assets, such as MANA, MATIC, SAND, or BNB. At LTC Casino, you can play with BTC, ETH, LTC, DOGE, USDT, and XRP.

Are metaverse P2E casinos better than regular crypto casinos?

P2E casinos in the metaverse allow you to earn crypto, albeit with many caveats. In all other respects, they are still significantly inferior to crypto casinos and online casinos in general. LTC Casino ensures easy access and a high-end gambling experience that are impossible in the metaverse as it stands today.