What is
Ethereum betting, and how does it compare to normal betting?
In the simplest terms, and there’s no need to overcomplicate it because it really is that straightforward, Ethereum betting refers to using Ethereum (and its native currency, ETH) as a payment method on betting platforms. Deposits and bets are made in Ethereum and any winnings can be withdrawn in the same way.
Ethereum vs Bitcoin – a quick guide
Ethereum is one of the best known crypto coins, second only to Bitcoin, and has been steadily growing as a payment option at online casinos and sportsbooks since around 2016. It has also become one of the currencies accepted at
crypto betting sites
that exclusively accept crypto coins.
Ethereum was developed by Vitalik Buterin and released in 2015. Like Bitcoin, it uses blockchain technology, but there are some key differences between the two:
| Bitcoin | Ethereum |
| Invented as an alternative to fiat currency | Made for smart contracts and decentralised apps |
| Can handle 7 transactions per second | Can make up to 30 transactions per second |
| Bitcoins are ‘mined’ and are a finite resource. The number of Bitcoins that can ever be mined is capped at 21 million | Ethereum has no maximum supply limit, and theoretically Ether coins can be created forever |
Pros and Cons of
ETH betting?
Gambling with Ethereum has lots of benefits compared to using traditional forms of currency:
Pros
- Quick transactions that mean deposits and withdrawals take minutes if not seconds
- Completely private and anonymous
- Low, or no, fees
- Extra safety
But, as with everything in life, there are some downsides too:
Cons
- Potential to lose money if you make a mistake while transferring funds
- Ethereum value goes up and down depending on the market
Are
Ethereum betting sites
legal??
Let’s address the elephant in the room. We’ve all heard the horror stories and urban legends about people joining a crypto casino only to wake up in the bathtub with their balances removed. But, as long as you choose a reputable, licensed site that is accessible for players where you live, then your playing is completely legal and above board.
Getting to grips with Ethereum gambling basics – deposits and withdrawals
Using Ethereum, or Bitcoin, or the crypto coin of your choice, to make a deposit or withdrawal at casinos and sports betting sites with ETH is a simple process and should only take you a few minutes from start to finish.
Making deposits with Ethereum
- Visit your site of choice, and log in. Then, make a beeline to the ‘cashier’ and ‘deposit’ page.
- Select Ethereum as your payment method, and enter the amount you’d like to deposit. There may be a minimum amount, but this will be highlighted on this page.
- The address you need will appear on the screen. Copy and paste it into your crypto wallet. I always double check it because, once sent, any mistakes can’t be undone.
- Click ‘confirm’ to complete the transaction.
A quick word on wallets
In order to make an Ethereum deposit you’ll need to have a crypto wallet. This isn’t like an ordinary wallet, or bank account, but rather a way to access your funds on the blockchain and make a crypto transaction. If this is your first time, it can feel a little daunting, but there are 2 types of wallets to help you:
Hosted
– Hosted wallets are best for greenhorns as they’re the easiest to set up and use. They’re overseen by a third party so someone else will have control over your private keys and can help you if you have any problems, or need to reset your password.
Non-custodial
– Non custodial wallets are better for more experienced crypto users. They allow users to have more control over transactions and to essentially act as their own bankers. But, this means if anything goes wrong, you’ll have more limited support.
There are also crypto exchange services that will allow you to convert your cash into Ethereum or other crypto coins.
Ethereum withdrawals?
Withdrawing your winnings in Ethereum is just as quick and painless as making a deposit, just in reverse.
- Go to the ‘Cashier’ or ‘Banking’ section of your profile.
- Select withdraw and tap in the amount of Ethereum you’d like to withdraw.
- Type in the wallet address that the Ethereum will fly into. Again, check this carefully before you hit ‘confirm’ to complete your withdrawal.
Keep in mind that there may be transaction fees on your deposits and withdrawals so you’ll need to factor these into your finances.
Claim the best betting bonuses of 2024
1.
100% up to 500$
Requirements (WR): 10x Bonus, Min. Deposit: 10$
2.
100% up to $1000
Requirements (WR): 15x Bonus, Min. Deposit: $20
3.
15% Rakeback Bonus
Min. Deposit: 1
No wagering requirement. after the first week Rakeback will start again from 6% go up by the different levels.
4.
200% up to 1?
+ 50 Free Spins
Requirements (WR): 35x Bonus, Min. Deposit: 20?
5.
200% Bonus up to 25,000 EUR + 50 Free Spins
How to choose reputable
ETH betting sites
– key points
Now that you know what to expect from an Ethereum casino or sportsbook, you’ll be keen to find a site to put your knowledge to use. Is it Christmas? Because I’ve got a gift wrapped pick of the primo ones. They’ve all been put through my judging criteria, a sure fire way to identify only the best:
Licence and registration
Licence and registration is the first thing I look for when I’m deciding whether to recommend a site or not. Some online bookmakers that accept crypto will have a government issued gambling licence while exclusively crypto casinos often have a Curacao Gambling licence. Both are equally acceptable and tell you that the platform meets certain guidelines that safeguard players and guarantee fair games.
Customer support
Before I let a crypto casino or sportsbook within a mile of my list, I have to be satisfied that it can provide exceptional customer service. I look for a live chat that connects you straight with a member of staff, as well as clear information on the website about common issues players might face, like making a deposit. These show that a platform cares about its members and have put thought into the player experience.
Tips for using Ethereum casinos and sportsbooks
Grappling with the basics of betting with Ethereum can seem a bit daunting, but have no fear because I’ve got some top tips to help you get the most from your time at an Ethereum casino.
Stick to your playing style
Ethereum exists in a constantly shifting and evolving network. The value can go up and down and there’s a lot of talk around it, positive and negative. Everyone has an opinion but don’t let that change your normal playing style.?
If this is your first time using Ethereum or playing at a crypto casino then it’s a good idea to play conservatively. Start with small wagers while you develop confidence with using crypto coins and gradually increase from there.
Take advantage of ETH bonuses
One of the very best things about using Ethereum as the fuel for your gaming, the icing on the cake in fact, is the range of
crypto betting bonus
deals. On some sites, these might be just for players using cryptocurrencies so are ideal for ETH holders. Just make sure to read the terms and conditions first so you know what to expect.
While staking with Ethereum, it’s vital to practise responsible gambling in the same way that you might at any other casino site. Set yourself a bankroll limit and keep to your tried and tested strategies to enjoy your gaming.
Get to grips with ETH eccentricities
If you’re a beginner, it can be a bit confusing to see how Ethereum, and other crypto coins, are displayed. Some crypto casinos will outline their bonuses in $ rather than worrying about showing all possible crypto amounts. One USD roughly equates to 0.00044 ETH (at the moment). That can make it difficult to keep track of amounts so what I always do is keep a currency converter tab open at the same time.
It’s also a good idea to keep half an eye on the wider ETH market. That way you’ll know when to exchange your coins for maximum gains.
Final thoughts – take your pick from all of these excellent
Ethereum betting
sites
All of the
Ethereum casinos
and sportsbooks platforms on our banners are a great choice, and hit all of the requirements of licensing, safety, and support, as well as fantastic game selections and varied sports markets. The best one for you as a unique player will depend, but this guide should provide you with the knowledge you need to help you make your choice.
I don’t have a crystal ball (if only!), but it’s a fairly safe prediction that Ethereum casinos and sportsbooks look set to continue growing in popularity. This will open up new markets and new opportunities for bettors but you can always rely on GameChampions to bring you the latest tips and advice. And, hey if you fancy trying out a crypto casino but you’re not keen on Ethereum then you’ll want to check out our list of the best
Bitcoin betting
sites too.
Our top choice of crypto bookmakers
1.
2.
3.
Bet now
No wagering requirement. after the first week Rakeback will start again from 6% go up by the different levels.
4.
200% up to 1?
+ 50 Free Spins
5.
200% Bonus up to 25,000 EUR + 50 Free Spins
Ethereum betting sites FAQs
? What are the advantages of an Ethereum betting site?
Crypto casinos that accept ETH have lots of benefits over their non-crypto cousins, but the main appeal has to be the speed and security of transactions. This is because transactions are decentralised so don’t rely on a third party in the same way that options like online banking do.?
??Are ETH betting sites safe?
Ethereum casinos are entirely safe to use. They utilise blockchain hosted Provably Fair Games which can be independently verified by players after each round. Just make sure to pick a site that is licensed, as all of the sites recommended by GameChampions are, and you’ll give yourself the best chance of crypto gaming success.
??How do you make a deposit at a betting site using Ethereum?
Making a deposit with your ETH is a simple procedure. Go to the ‘Cashier’ section of your profile, and select Ethereum as your deposit method. Type in the amount you’d like to deposit, and enter the displayed address into your crypto wallet (checking this carefully to make sure it’s correct). Hit ‘confirm’ to complete the transaction.
