When core drilling, it is always best to use a Wet Core Bit. Why? Faster drilling, flushing out of cut, dust control, minimize binding in cut, bit lasts longer, thicker more durable wall (fewer broken segments).
So why use a Dry Core Bit? There are times when water is simply not accessible or slurry from wet drilling is not acceptable in the environment.
In that case, using a dry bit on a standard handheld core drill or a core drill rig is the next best choice. A dry bit can be used on a rotary hammer drill (with hammer turned off) in conjunction with an Adapter but RPM’s are typically slower and precise control over the bit while using an adapter is not desirable. The clutch system on a dedicated core drill is preferable when core drilling vs a rotary hammer.
Block, brick, or soft concrete are still the only recommended materials to use a dry core bit to drill. Horizontal drilling is also preferable to vertical when using dry although dry will work; you will experience more binding drilling dry horizontally.