Ethereum Gambling: The Complete Guide

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.

 

Ethereum symbol

Ethereum gambling: why you should bet using Ethereum

Ethereum is an alternative cryptocurrency from the prominent bitcoin. In as much as Bitcoin caught the attention of many people because of the wide media coverage and price spike, Ethereum can’t be ignored because of its low transaction cost and wide application in many sectors. One of the sectors is in online gambling. Gambling with ethereum has proved to be effective and advantageous in many ways. It is no wonder why ethereum casinos have been on the rise to adopt this digital currency as a payment method. Some Ethereum casinos have gone to the extent of introducing ethereum slots, ethereum poker, and ethereum jackpot. Let’s slice and dice to get to the bottom of ethereum gambling.

Advantages of gambling with Ethereum

Gambling with ethereum comes with the following advantages:

  • No need of financial or personal information disclosure when signing up with an ethereum casino.
  • Ethereum online casinos have the highest level of security, therefore, no risk of external attack.
  • Ethereum casinos offer players complete anonymity.
  • Gambling with ethereum offers players an opportunity to place low-priced bets/deposits.
  • Ethereum casinos ensure that all ethereum games are provably fair;
  • Ethereum online transactions are faster compared to bitcoin and other cryptocurrencies.
  • Gambling with ethereum offers players a tax benefit since crypto winnings are not taxed.

Disadvantages of gambling with Ethereum

  • Ethereum price is not stable compared to fiat currencies. A gambler with a huge bank roll may face severe loss if ethereum price nose dives.
  • Ethereum gambling doesn’t reward new or existing players with bonuses.
  • There are payment systems that don’t exchange ethereum for conventional currencies.

Ethereum casino online

Best Ethereum Gambling Sites 2018

It is a fact that there are many online casinos advertising to new clients many promotions and click bait bonus. But an honest question underlying all the ‘Juicy’ promos on offer is that, do the players get satisfied with the gambling experience after signing up? Ethereum casinos are not any different, players keep hopping from one ethereum casino to another, why? Excellent customer service, quality games, VIP programs, competitive odds, and timely payouts. Below are the best-handpicked ethereum casinos that meet and surpass the above criteria.

mBitCasino.com – Top of the list is mbitcasino. Players are treated with over a hundred games to choose from. These games are blackjack, ethereum slots, ethereum poker, and table games such as the roulette.  Even though there is no ethereum jackpot, there is a bitcoin jackpot price valued at 7500 BTC. There are many top game providers such as Betsoft gaming, Endorphina, and 13 other providers. This ethereum casino has a mobile version that can be accessed from both android devices and iPhone/iPad.

There is a VIP program for players that qualify. VIP members benefits from redeemable loyalty points, free spins, access to VIP store, 10% cashbacks, dedicated manager and a VIP hostess. The VIP is categorized into four silver, gold, Diamond and Black. Black has the most rewards in terms of benefits while silver is the starter pack for VIP.

Betcoin.ag  – When signing up with this ethereum casino you get live dealers, ethereum slots, ethereum poker, free spins and 100 % welcome bonus. Players are guaranteed of fairness of their bets from the provably fair technique that has been adopted. Apart from the regular games, there are virtual games and 3D slots. Most of the games offered by this ethereum casino have a progressive ethereum jackpot. There are tournaments and cash games which players can engage in.

Betcoin.ag VIP program is non-discriminatory. This is because their VIP recognition isn’t based on the players bankroll but rather loyalty. Their VIP program cuts across the variety of games they have, so if you are sports betting fanatic you will not be left out. The VIP program has 7 different levels, master is the peak while bronze is the starter level.

Bitstarz – this ethereum casino offers 20 free spins welcome bonus when you sign up with them. You are not required to deposit any amount to get this bonus. Bitstarz brags to be the number 1 hybrid –currency casino because of its attention to detail to their customer needs. You will not go wrong trying your gambling luck with this ethereum casino. As their mantra goes; Dream Big, Win Bigger, it is possible to dry this casinos from their 1000+ games available. Gambling with Ethereum on this casino coupled with their generous bonus rounds, I find no reason why you shouldn’t bookmark this casino.

Treasure Island Adventure

Bitcoin Penguin – Nice simple interface, 11 top game providers, 24/7 customer service, and exquisite game features are what players enjoy from this ethereum casino. There are over 200 HD games to choose from such as 3D ethereum slots, ethereum poker, and table games. Upon signing up, you will be treated with a 100% deposit bonus capped at €900 or 0.2 BTC. There are ethereum jackpot games you can select such as the progressive ethereum slot games. Well, you can’t miss the thrill of playing a night in Paris slot game.

Bitcoin penguin has a VIP program but it is not advanced compared to other VIP programs offered by rival ethereum casinos. For instance to qualify for the VIP players are required to wager more than 5BTC for a year. The reward pack also offered cannot be matched to what its rivals are offering. To sum up, this casino is all about simplicity, newbie gamblers would find it convenient.

Fortune Jack Fortune Jack is a respected online casino among cryptocurrencies enthusiasts. It supports 8 cryptocurrencies, ethereum being one of them. This ethereum online casino has a collection of the best ethereum slots games. There is a progressive ethereum jackpot for most games. Most of their games have a demo option for players to get a feel of how the real game feels to play. If you love playing poker, then this is the home of the fine ethereum poker games. You can always follow the thrill of live dealer games that are offered with this ethereum casino.

Fortune Jack embraces fairness of games by use of the provably fair system that ensures that bets are not manipulated. When signing up with this online casino, you will get a 110% welcome deposit bonus and 250 free spins. Gambling with ethereum has been made a breeze with this ethereum online casino.

1xBit Casino it is almost impossible to separate excellence from 1xBit Casino. This ethereum online casino is a true definition of the hallmark of ethereum gambling. This ethereum casino brags to support 18 cryptocurrencies ethereum being one of them and over 11 years of online casino experience. You will be spoilt for bonus choice once you get to their home page.  From live casino dealers, ethereum gambling to financial betting, you will definitely love what this ethereum casino has packaged for its customers. Although there is no ethereum jackpot, there is an over 17000 BTC jackpot prize to be won when playing on this ethereum online casino. Slots games are abundant and ethereum poker games too are in handy. There are dozens of free spins and bonuses to keep you on the thrill of luck.

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.

Ethereum Jackpot
Best ethereum online casinos have Jackpot feature

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.

Complete guide Ethereum gambling

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.

Ethereum roulette

 

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.

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