Table of Contents
- What is Ethereum?
- Best Ethereum gambling sites
- How does Ethereum work?
- The common types of Ethereum gambling
- Advantages and disadvantages of Ethereum gambling
Crypto currencies are now widely used for plenty of financial transactions. From recently, the considerable part of online gaming websites started to accept Ethereum as a payment means.
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In 2013, cryptocurrency researcher and from Russia, Vitalii Buterin, offered an alternative crypto currency and titled it “ethereum.” It has several names: Ether, Ethereum, and ETH. The whole system was launched in July 2015. Ethereum is a public, open-source, blockchain platform. The Ethereum platform, which uses so-called smart contracts, can be implemented in various areas. However, it is mainly used as a crypto currency. Various companies have already expressed interest in the platform, including Apple, IBM, Microsoft, etc. They call ETH the future generation of Bitcoins. So, it is no wonder that online casinos instantaneously started to accept payments in Ethereum due to its increasing popularity and mobility.
What is Ethereum?
Ethereum allows gamblers and online casinos making all types of transactions via Web without any taxes, regulations, and central authorities. What differs Ethereum from any other digital currency is that ETH financial system is grounded on a decentralized and programmable platform, which makes use of so called smart contracts. They are implemented to make efficient economic organization systems for online gambling sites with all the transactions being made in the system itself.
Ethereum has quite a diverse technique for costing transactions. It depends on their difficulty, storage needs, and bandwidth use. The Ethereum`s value keeps on increasing even quicker than Bitcoins. Experts say that ETH might completely revolutionize the crypto currency concept and its usage in gambling.
Best Ethereum gambling sites
Crypto currency fans quickly realized Ethereum is a very promising digital currency. ETH platform is considered one of the safest one. That is why plenty of the top casinos have already switched to it. In this section, you will find the best Ethereum gambling sites. All of them offer the most varied amount of the best online games.
It is a much-admired Ethereum poker room, Sportsbook, and casino. Betcoin.Ag offers more than 400 games from the most trusted developers. 24/7/365 responsive customer care. VIP Club. Protected gambling environment. This casino offers perfect opportunities for anonymous Ethereum sports betting and other. The site offers best live Ethereum Roulette games such as European, Common Draw, American, and Zoom roulette.
The casino was launched in 2014. All games at this casino are provably-fair. Ethereum gamblers are kindly welcomed. No registration is needed. From 0,8% to 2,7% house edge. The casino also offers to try its perfect collection of Ether Slots. The best five reels slots with the maximum win up to 100 ETH. There are also such popular games as Blackjack, Roulette, Dice, Lottery, and Video Poker. Among the other Ethereum games, this casino proposes Plinko game, where you should drop the ball from the top of a pyramid.
The reputable Nexus Group owns this online gambling venue. It accepts all types of digital currencies. The casino offers lucrative bonuses for Ethereum deposits. Plenty of the top progressive jackpot games. At this top website, you can use Ethereum to play Dice, Slot games, Roulette, Blackjack, Bingo, Keno, Poker. Forex trading with Ethereum is also available.
How does Ethereum work?
- Register at the casino website (if it is required);
- Get unique ETH address;
- Deposit a preferred amount of ETH, choose your game, and start enjoying the gambling process.
All withdrawals are simple. You need to paste your ETH wallet address in the casino cashier section, select the sum you`d like to withdraw, and get your money.
The common types of Ethereum gambling
There several most popular gambling types where you can use Ethereum as a payment means.
Esports is the first category online gambling that started accepting ETH. You can use this digital currency to gamble all types of Esports events. These are various Fighting games (Marvel vs. Capcom, Street Fighter, Super Smash Bros., etc.) , FPS games (Special Force II, Quake, Unreal Tournament, Counter-Strike series, Call of Duty, etc.), RTS games (Warcraft and StarCraft), Racing (Project CARS, Trackmania, etc.), Sports games (Rocket League, FIFA, NHL, NBA, etc.), MOBA games (Smite, Dota, League of Legends, etc.), and some other games (Guild Wars 2, Tetris War Thunder, Gears of War, etc.). To make an ETH bet, you need to select a game from the calendar of forthcoming events, deposit your account, and enjoy gambling.
Poker games are honorably considered the most popular ones among gamblers. Many online casinos, which offer this type of gambling, have started to welcome ETH players since 2016. So, now you can play such famous games as Texas Hold ‘Em, Omaha, Five Card Draw Poker, Seven Card Stud, Five Card Stud, Follow the Queen, and High/Low Chicago, Omaha Hi/Lo, etc. The principle of betting with Ethereum is the same as if you use any other digital or conventional currency. You should choose the desired game, deposit some finds, and start playing.
The top online casinos have started to take a closer look at Ethereum since the beginning of 2016. Now more and more virtual gambling houses offer the fullest variety of its games for ETH gamblers. At present, almost all categories of the most popular games accept deposits in this digital currency. These are all types of Table games, Dice, Keno, Lottery, Bingo, Roulette, Blackjack, Scratch Cards, Baccarat, Live Dealer games, etc. All games have the same rules as in land-based casinos. The process of making bets is also the same.
From 2016, financial trading also became available with ETH. The largest market for currency trading worldwide, Forex, accepts Ethers day-and-night. Moreover, money brokers praised all the benefits of the new crypto currency quickly. Trading ETH is the same as trading other traditional or digital currencies. For instance, you can use Forex to buy euro for pounds, and sell dollars for ETH.
Advantages and disadvantages of Ethereum gambling
Each traditional or digital currency has its pros and cons. Let us figure out the key Ethereum ones:
Benefits of Ethereum gambling
- The complicated verification process makes it impossible for scammers to pocket your money;
- Decentralized platform;
- Ethereum gambling is not officially prohibited in any country of the world;
- Ethereum platform has an ideal program code, which cannot be broken;
- No documents verification is required;
- The most rigorous safety among other crypto currencies;
- Fast and simple registration of ETH wallet;
- Quick withdrawal in comparison to other currencies;
- Ethereum platform for gambling has a clear vision for future development;
- Almost all ETH games are provably-fair;
- Complete anonymity of transactions and personal information;
- No government attention. Let us explain in a few words. Bitcoins have already attracted much off-putting attention from many states and, therefore, BTC was involved in plenty of serious scandals. Ethereum, at the same time, has used Bitcoin mistakes to institute definite and reliable safeguards to keep away from such situations;
- Ethereum winnings cannot be taxed;
- No registration is needed;
- No chargeback.
Drawbacks of Ethereum gambling
- Presently, the fundamental trouble with online ETH casinos is that there is much smaller amount of them in comparison, for example, to Bitcoins gambling houses;
- Probably high volatility;
- American players may have withdrawal limits;
- The Ethereum exchange rate for Dollars, Pounds, and Euros is often understated.
Gambling experts believe that Ethereum smart contracts can entirely transform online gambling. This relatively new digital currency can wholly modify the way online gambling venues function. The casinos mentioned above contain all the essential Ethereum games and options on the Web for getting perfect ETH gambling experience. Benefits of using ETH for playing at online casinos are obvious. Drawbacks are not that terrifying. Once you use Ethereum, you will realize why this crypto currency is perfect for making bets on your favorite casino and Esports games, as well as for Forex trading.