Ethereum is a digital currency that was introduced in July 2015 by Vitalik Buterin. It has support a lot of functions unlike Bitcoin. Ether represents the currency that Ethereum supports. Ether is denoted as ETH. Ethereum has filled many inherent weakness that Bitcoin had such as slow transaction times and high transaction charges.
Smart contract was the game changer feature that took ethereum to its current top spot among the cryptocurrencies. Ethereum Smart contract is the underlying technology that many ethereum casinos are using to settle bets because it is tamper proof nature. Apart from smart contracts feature, ethereum has been used by ethereum casinos as a payment method when making deposits/withdrawals. To identify an ethereum casino you will spot the below image in its supported currencies.
Best Ethereum sportsbook
There are few ethereum sportsbooks on the internet. If at all you find, then be assured of crappy odds, no live games, no live match streams and probably limited odds markets. However, some ethereum casinos have raised the bar by setting a good standard about their ethereum sportsbook. Example of such ethereum online sportsbook are mBitCasino.com, Betcoin.ag and 1xBit Casino. You will not be disappointed about the odds that they have availed to players. They are above the market odds. Gamblers can bet on football games, basketball, tennis, UFC, esports, and many other games.
Getting started with Ethereum gambling
To get started with ethereum gambling, it is paramount to understand everything that pertains to gambling using Ethereum. If you have prior ethereum gambling experience then you will straight away just sign up with an ethereum casino and get started. However, if it is your first time then it is prudent to go through the following checklist.
Have an Ethereum online wallet
You will need a wallet to store your ether. It is important to do a background check of different wallets before choosing one. This is because different wallets have different levels of security. It is preferable if you settle for a hardware wallet such as Ledger Nano S . Hardware wallets are the most secure wallets, although, they come at a cost. There are free secure ethereum online wallets such as myetherewallet.com which you can also use if you are holding fewer amounts of ether.
Choose an appropriate Ethereum casino
There are many ethereum casinos online and settling for the right ethereum online casino might mean the difference between wins and losses. The ethereum casinos above have been tested and proven to be the best ethereum online casinos. In an effort to arrive at the appropriate ethereum online casino consider factors such as customer review, reputation, regulation, customer service, types of games offered. You should also consider whether the ethereum online casino has a jackpot feature. You never know whether luck will befall you.
How do I deposit Ether to an Ethereum casino?
Depositing Ether to an ethereum casino is similar to depositing bitcoin. You will be required to buy ether from an online exchange such as coinbase.com. Once the purchase has been successful and the ether(ETH) has reflected on your wallet you proceed to link your wallet to you preferred ethereum casino.
It is important to note that you need to be extremely cautious when doing the transactions. The reason being, cryptocurrency transactions are irreversible. Counter check the address you are sending the ether to, ensure it starts with “0x”.
Can I use Bitcoin wallet to hold Ether?
It is important to note that bitcoin addresses and Ethereum addresses are different in architecture and therefore bitcoin wallet cannot be used to store ether. You should be cautious of the wallet address you select when you are purchasing ether. A mistake could mean loss of your money since crypto transactions are irreversible. A wallet such as Ledger Nano S allow players to store different cryptocurrencies under one wallet but different addresses. Other established online wallets too have the option of holding different coins but under different addresses.
Is there Ethereum Texas Holdem poker in Ethereum casinos?
Playing Texas Holdem poker requires a number of players who will keep the tournament and cash game rings going. Unfortunately, no ethereum casinos have been able to get the number of ethereum online players required to play. The same problem is being experienced with bitcoin which has a relatively high number of users. Betcoin.ag used to offer ethereum Texas Holdem poker but due to insufficient ethereum online players, it turned down that option in late 2017.
Ethereum casinos with the best bonuses and free spins
Bonuses are nice treats to gamblers to keep on pushing for luck. Although there are few ethereum casinos with no deposit bonus a majority of ethereum online casinos have the deposit bonus. Example Betcoin.ag has 3 tier deposit bonus where players are rewarded 100 % deposit bonus of first deposit. The second deposit has a 50 % deposit bonus and 25% deposit bonus on third deposit.
Free spins are common with almost all ethereum casinos. Gambling with ethereum becomes fan and less risky when you have free spins.
What is the minimum and maximum deposits/withdrawals limit?
There is no fixed minimum amount of ether you can send/withdraw to an ethereum casino. Ethereum casinos will vary on their threshold deposit limits. Many casinos don’t have a maximum deposit limit. It is important to note that when you deposit direct to a smart contract there might be delays which may take up to 48 hours.
What transaction charges will I incur?
Withdrawing ethereum to your ethereum online wallet does not involve transaction charges. This is one of the benefits of gambling with ethereum, unlike fiat currency. Betting using fiat currency may sometime incur transaction charges up to €30 when withdrawing using bank wire. Almost all ethereum casinos have zero transaction charges when customers withdraw ethereum to their wallets.
Depositing ethereum will involve a minor transaction charge that is paid out to ethereum miners. The fee is substantially small, almost negligible. Since the transaction charges are paid to the ethereum network miners, ethereum casinos have no control over the fee. This makes gambling with ethereum transparent.
Are there mobile Ethereum gambling sites?
Ethereum casinos have gone to the extent of exceeding their customer’s expectation by introducing mobile compatible games. Gamblers can play ethereum slots, ethereum poker and other games from their android devices and IOs devices. Of course this enables players to be on the thrill of chasing luck for example when on a train or in a park.
Other ethereum casinos have made gambling with ethereum more convenient by introducing apps. Mobile apps are convenient since they load games very fast and the application is light. For example, playing ethereum slots will be fun since the reels and symbols will be moving seamlessly.
Is Ethereum gambling legal?
The question about the legality of gambling with ethereum remains to be a grey are considering some countries/states have legalized gambling whereas others have made it illegal to gamble. It is important to note that most restrictions are based on the federal banking system restriction to fund ethereum casino accounts. However, since gambling is decentralized it bypasses these laws because ethereum doesn’t fall under the federal monetary system. In as much as this weakness applies, it is important for a player to always use an ethereum casino that is regulated. To know whether a casino is regulated, check on the bottom of its homepage or check a submenu written regulation. A regulated casino always protects its players and works under the laws of a certain jurisdiction.