Neo Casinos 2022

Vienne-GarciaVienne Garcia
6 min read
Neo Facts
neo-logo
Company: Neo Foundation
Founded in:2014
Headquarters:Shanghai
CEO: Da Hongfei, Erik Zhang
Website:neo.org
Available in:Over 100 countries
E-Mail:[email protected]
Best Neo Casino:Fairspin
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No, we’re not talking about the Matrix, but it’s not entirely far off. Neo, as we’ll discuss, is a cryptocurrency. It goes without saying this is not yet one of the big coins on the market, but it has been gaining more attention in the world of crypto gambling, which is why we’ve put together this article on gambling with Neo.

Although this isn’t a well-known coin, Neo has actually been around for a few years. It was the brainchild of Chinese developers Erik Zhang and Da Hongfei, and was launched in 2014. Initially, the coin was called Antshares. Despite the naming similarity, Antshares did not have anything to do with Jack Ma’s Ant Group, and in 2017, the coin was re-branded to Neo, which is what it’s known as today.

Since the re-branding, Neo has been gaining steam and some even call it the Chinese Ethereum. Neo functions on smart contracts, combining digital IDS and assets to create a smart economy. Essentially it creates an entire ecosystem, because physical assets can become digital through tokenization. The potential is certainly clear and Neo is now a well trading coin on Binance.

idea iconIf you are getting into Neo, you’ll also find something called GAS tokens. GAS is the cryptocurrency for payments on the Neo blockchain.

Play with NEO at Fairspin

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Contents

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While it’s been gaining ground, Neo is still not a well-known coin, as already mentioned. That means there aren’t too many casinos that bank with Neo at the moment. Of course, things will probably change, but for now there is only a handful of Neo casinos.

Despite the selection being rather slim, these are actually really good and trusted casinos. Rocketpot has excellent games, and Fairspin has one of the largest collections of crypto slots out there.

For the purpose of online gambling, Neo may not give you the most options. So if it’s important for you to have lots of casinos to choose from, then Neo may not be the best choice and you might want to consider something like Litecoin instead.

What’s Behind the Neo Coin?

neo-founder

The Neo founder Da Hongfei

Compared to other cryptocurrencies, Neo is clearly targeted at the Chinese market. It is explicitly regulation compliant. Some have pointed out that there isn’t much new as Neo mostly uses Ethereum’s technology and structures and is just essentially a Chinese version of ETH that now wants to target Western markets.

However, there is a key difference between Neo and Ethereum though. Neo employs something called Neo IDs, and you absolutely need a Neo ID before you can trade on the Neo network. Neo IDs have to be verified. Verification can be done in several ways, including fingerprint, facial recognition, or SMS confirmation, which in China is linked to your real identity. This fully in compliance to Chinese regulations and is supposed to provide a basis of trust, although some will note that this completely does away with the privacy that crypto is prized for.

The Neo system has two tokens: Neo and Gas. Neo is the token for your ownership and governance on the blockchain, while Gas is the fuel token to actually pay for the transactions.

info iconThe number of Neo coins is limited, much like Bitcoin. Neo’s cap is 100 million coins and although they are not all in circulation, they have all been generated. They are pre-mined, meaning you cannot mine Neo coins. Instead of mining, users stake Neo to support the ecosystem, which means you just hold on to the Neo coins.

Neo Price and Market Development

When the coin was first launched as Antshares, interest was lukewarm at best. However, since the re-brand to Neo in 2017, things have picked up. The Neo coin broke the $1 mark in mid 2017, and spent most of 2021 with a price above $40. At the time of review, the price was around $10. Its all-time high was in January 2018, when one Neo was worth $198.38.

The price of Neo has clearly been volatile, but that’s just the nature of cryptocurrencies. And compared to bigger coins like BTC, this volatility is relatively tame.

neo chart

Current price development of the NEO Coin

How to gamble with Neo at a casino

Let’s say you already hold some Neo. There are minor variations with each site but these are the basic steps to deposit Neo at an online casino.

  1. Select a casino that banks with Neo, sign up and log in
  2. Go to the Cashier or Deposit section from your account
  3. From the payment methods available, choose Neo
  4. Enter the amount you would like to deposit
  5. A QR code will appear – scan it with your crypto wallet app. Or you could copy the address into your wallet.
  6. Follow instructions to confirm transaction

Most crypto casinos also have a third party gateway that lets you buy crypto on site with a credit card. So you could buy Neo there too, if the casino accepts it as a payment method.


plus iconA great thing about Rocketpot and Fairspin is that the current price of Neo is always displayed before you actually make your deposit. You can simply type in the amount you want to deposit in fiat, for example $50 US, and the screen will display how much that is in Neo. This comes in handy, since it’s not always easy to stay on top of the latest exchange rates with all the price fluctuations in cryptocurrencies.


Usually the casino game display itself will be shown in dollars or Euros, depending on your settings. However, some crypto casinos have launched their own coin as a standardized token for all the different cryptocurrencies they accept.

How to buy Neo

Neo is not a cryptocurrency that can be mined. The only way to get Neo is to buy it. It’s easy enough, as all the major crypto exchanges have it listed. Check the daily exchange rates to make sure they work for you, and then you can make your purchase.

  • Exodus Logo
  • bitpanda-logo
  • binance-logo

You do need to sign up to a crypto wallet, but the major exchanges listed here will have one. It’s good to check the fees each wallet has, as these can add up quickly if you become a regular on the crypto scene. Have an idea on what kind of transactions you’ll be making, know what you need and shop around.

Pros and Cons to Neo Casinos

  1. What are the advantages to using Neo at crypto casinos?
  2. What are the disadvantages to Neo casinos?

What are the advantages to using Neo at crypto casinos?

stopwatchWhen using Neo as a payment method at a casino, you will benefit from all the advantages of crypto gambling. Mainly, incredible banking speed on cashout that is often near instant. Crypto casinos also tend to have much higher limits than regular casinos. You’re also looking at bullet proof security thanks to the blockchain. With Neo, you further enjoy the specific benefits of:

  • Low buy-in costs
  • Low transaction fees
  • Real-time transactions

What are the disadvantages to Neo casinos?

The biggest issue right now when it comes to gambling with Neo is that there simply aren’t that many casinos that accept it. This could change though, but if you are looking for options and choice in crypto gambling, this may not be the best coin.

In terms of the cryptocurrency itself, Neo has been criticized for being a China influenced cryptocurrency. It’s clear in its adherence to state regulations with regards to identity and privacy issues. It comes with the risks of political influence and developments.

However, China-savvy investors will know that this compliance is critical to ensuring the coin remains a viable digital currency for the China market in the long run, and this access to market is a key part of their investment.

Here are the disadvantages to Neo at a glance:

  • Not widely accepted at casinos
  • Identity verification can lead to privacy concerns
  • Susceptible to political developments

What’s the difference between Neo and Ethereum?

Ethereum LogoNeo has often been called the Chinese Ethereum. Both deploy smart contracts to support decentralized function in DApps. They also both subdivide into two units. Ethereum has a token called Ether, while Neo has a token called GAS. Those who own these currencies can potentially generate passive income by staking them. Additionally, both Ethereum and Neo are open source, resting on community support. With all these similarities, are there any differences between ETH and Neo?

The main difference between the two is that Neo has largely been focused on the Chinese market to date. Although it is now partnering up with other entities to expand its borders, it needs to catch up with the other cryptocurrencies that have always maintained a more fluid approach. On the other hand, Neo’s focus on China has meant that it will be in a position to be a player in the country’s digital payment system.


arrowThe other difference is that while Ethereum is divisible, the Neo blockchain is not. Micro transactions are thus unavailable on the Neo network.


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Finding a trusted Neo Casino

At the time we put this Neo gambling guide together, there weren’t many Neo casinos around. But things can change fast, so how do you know if you can trust a Neo casino when you come across one?

curacao-egaming-licenseFirst and foremost, look for a gambling license. Generally speaking, the Curacao eGaming license is always a sign that you are looking at a reputable casino that meets legal requirements.

Next, check to see who the software providers are. Established providers like NetEnt and Pragmatic Play always make sure their games are fair, because that’s how you stay in business in the long run. Since Neo is a crypto casino, you can also for Provably Fair games that use blockchain to ensure transparency to players.

Limits Neo Casino

Crypto casinos are famous for their no limit gambling, which is why so many players have switched over from traditional currencies to crypto. The no limit part mainly applies to no upper limit when it comes to deposits and withdrawals. However, there are minimum amounts just to make sure the transaction at least goes through.

info iconTaking the example of Fairspin Casino, when you go make a deposit with Neo, you’ll get to enter any amount you like in USD, and then the casino displays the amount in Neo for you. This amount is actually 1 Neo coin, which was $10.18 when we put this together.

Can I use Neo to play all the casino games?

Once you’re in a casino that banks with Neo, you can use your bankroll to play everything that the site has to offer. Your payment method, whether it be Neo, another cryptocurrency, or fiat, doesn’t matter at all when it comes to game play. This includes so called Bitcoin games, which were given the name because when they were first released they were only available at crypto casinos, and crypto was synonymous with Bitcoin.

Generally, you can expect these game categories at casinos that accept Neo:

  • Slots and jackpots
  • Live games
  • Roulette
  • Blackjack

Some sites may even have sports betting.


important iconIn terms of bonuses and promotions, some casinos will have welcome bonuses for crypto deposits, in which case your Neo would also qualify. There are however some hybrid casinos that bank with both fiat and crypto where crypto might not be eligible for the welcome offer. But with most other promotions like featured game specials and loyalty rewards, Neo is just as good as any other payment method.


Tips for using Neo

If you are looking to get into Neo, here are some tips that will help you save some money:

  • Shop around for a crypto-wallet
  • Look for wallets that have fees that work for you
  • Wait for a price that is right
  • Consider it as an investment in the longer term

The main thing here is to find a crypto-wallet that works for you. Different wallets have different fees. For example, some fee structures are designed for high volume trading. As with cryptocurrencies, prices can be volatile, so it’s sometimes good to wait until you see a price drop.

Coins that are Neo Alternatives

One of the main issues with Neo is that compared to other coins it’s not very widely known, so not that many casinos accept it. If you are wondering what might be some good alternatives for crypto gambling, below are the cryptocurrencies that are most widely accepted at casinos:

  • bitcoin
  • Bitcoin Cash Logo
  • Ethereum Logo
  • Litecoin Logo
  • EOS-logo
  • Cardano Logo
  • Ripple Logo
  • Tron Network Logo
  • dogecoin logo
  • Solana Coin

Bitcoin, Bitcoin Cash, Ethereum and Litecoin are most widely accepted and you should have no problems finding a place to play with those. However, while not as popular, you’ll also find many crypto casinos that bank with Ripple etc.

Neo Casino FAQs

  1. Can I mine Neo?
  2. How many Neo coins are there?
  3. Can I gamble with Neo anonymously?
  4. How long does it take for a Neo transaction to go through?
  5. Is Neo on Coinbase?
  6. Are Neo casinos reliable?

1.) Can I mine Neo?

No. Neo is not a mineable cryptocurrency, unlike Bitcoin and Ethereum. You can however earn Gas tokens by holding onto Neo. The more Neo you hold, the more Gas you will earn. The technical term is called staking and it’s basically like interest.

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2.) How many Neo coins are there?

There are 100 million Neo coins, and all of them have been generated. Currently, there are roughly 70.5 million coins in circulation. You can buy them at popular crypto exchanges.

Back to FAQ

3.) Can I gamble with Neo anonymously?

Not really. Neo requires verification, and actually so do most crypto wallets and licensed casinos. Although cryptocurrencies are decentralized and separate from the banking system, once you have your identity linked through a wallet or casino, it’s not truly anonymous anymore.

verification iconHowever, just because it’s not fully anonymous doesn’t mean there is no privacy, as licensed casinos are very clear about protecting customer privacy.
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4.) How long does it take for a Neo transaction to go through?

Neo boasts fast times. It can process 1,000 transactions per second. Most transactions are confirmed in 15 seconds, although this can vary a little depending on how busy the network is.

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5.) Is Neo on Coinbase?

Unfortunately, while Coinbase does provide info on Neo prices, it does not actually support Neo. You can however buy it on Binance.

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6.) Are Neo casinos reliable?

The Neo casinos we’ve listed on this page are tried and tested, as well as licensed. They are definitely reliable. However, it’s good to remember that a cryptocurrency or payment method isn’t what makes a casino good or not. You should always at least check their licensing info.

Back to FAQ

The Expert Conclusion on Neo

From a gambling point of view, Neo remains relatively limited as not many casinos accept it for now. Still, those that do are solid casino sites with good games and reputations. It’s still very affordable making it a good coin to get into for those on a budget. While those who are concerned about privacy issues may be hesitant about the identity verification attached to this coin, from a gambling perspective this is not such a long shot from account verification at licensed online casinos.

Already a popular cryptocurrency in China, Neo is steadily gaining traction elsewhere. Whether we will be seeing more Neo casinos in the future remains to be seen, but with the low buy-in costs, buying in and holding is always an option.

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Author: Vienne Garcia
Last Update:
Article reviewed: Neo
Author Rating: 90%