Have you heard about Ethereum betting, and now you want to jump aboard the hype train? Not sure whether it’s legal? If so, you’re in luck because crypto betting is 100% safe, and betting with it is a joy because it enables fast transactions!
If you don’t know much about Ethereum gambling, don’t worry—you’ve come to the right place. Our article will give you all the necessary details you need to know before betting with Ethereum. So, keep on reading to find out:
- Is Ethereum Gambling Legal?
- 4 Benefits of Gambling With Ethereum
- 10 Things to Consider When Picking an Ethereum Gambling Website
And more! Let’s get started.
Is Ethereum Gambling Legal?
The first thing we should make clear is that Ethereum is only another means of exchange. This means that it has nothing to do with crypto gambling legality.
Whether gambling with Ethereum is legal or not depends on where you live. First, it can be illegal to use cryptocurrencies for any type of payment in certain countries, which includes making deposits on crypto betting sites.
Second, in some countries, gambling itself can be illegal, whether with Ethereum, cash, or any other currency.
That’s why you should check your country’s government’s policies on cryptocurrencies and online gambling. In the case that both are legal, that means you can safely gamble with Ethereum.
Lastly, you can also check the legality of Ethereum gambling by visiting the site you want to bet on. If they have a betting license in place for your country of residence, you’re good to go. To get a license, a casino must meet specific laws and requirements before offering you the right to gamble.
4 Benefits of Gambling With Ethereum
Now, you might be wondering why Ethereum betting would be such a good idea. There are numerous benefits to gambling with this cryptocurrency, including:
- Fast transactions
- Low cost
- Plentiful bonuses
#1. Fast Transactions
With Ethereum, you’ll be able to cash out faster than you know!
One of the biggest reasons people like Ethereum gambling is how quickly you can make transactions. You can set up your account, make deposits, and withdraw your winnings in just seconds.
No one wants to wait long to receive the money they just won at the casino. Instead of waiting a few days for bank transactions to go through, you can legally gamble with ethereum and avoid wait times. Then, you have more time to spend on other activities, such as maximizing the return on your bets.
Let’s face it: no one likes to share too much of their personal information, especially nowadays, when every other website is out to get your cookies and data. The upside of Ethereum gambling is that you can set up your account and payment method without undergoing identity verification. You only need to add your email address and connect your crypto wallet, and you’ll be good to go!
#3. Low Cost
With conventional payment processes, a certain percentage of your invested money goes to paying fees, whether it’s each time you cash out or make a deposit. Although the processing costs for traditional payment methods are getting smaller by the day, they can still accumulate.
With Ethereum, transaction fees are even lower, so you won’t lose a fortune on making deposits or withdrawing your winnings!
#4. Plentiful Bonuses
Everyone and their mother loves a good old bonus. Ethereum is still young, and the gambling industry wants to attract more players, which means there are numerous bonuses you can expect to receive. These bonuses come in the form of deposit matches, free spins, cashback, etc.
10+ Best Ethereum Gambling Websites
10 Things to Consider When Picking an Ethereum Gambling Website
Can’t seem to decide which gambling website to pick? Knowing what to consider before determining may go a long way, so we’ve listed what you should keep in mind when choosing the best Ethereum casino for you.
#1. Restricted Countries
When picking an Ethereum gambling website, you’ll want to check whether it’s got the required licenses for your country. If a casino doesn’t have them, it means that it could be risky and unsafe for you to gamble with your Ethereum there.
This is why you should always only bet on websites that have the required licenses. So, check the “Rules and Regulations” section of the website, and you’ll be golden!
#2. Reputation and Trust
Betting on a website you can’t trust is always a bad idea. To see if you can trust a gambling site, you should do a quick Google search and read some of the reviews. They should be enough to tell you whether a website has a decent community and respects its users.
#3. Provably Fair
Firstly, let us explain Provably Fair technology real quick. In layman’s terms, it’s a software algorithm enabled by blockchain that proves a third party isn’t tampering with your bets. It works by providing you with a code before your roll and another afterward, so you can compare them. You can rest assured that everything’s okay if the two codes match.
You can see how this might come in handy and why you should always check whether your desired Ethereum gambling sites use Provably Fair technology.
#4. Payout and Withdraw Speeds & Terms
People love using Ethereum for gambling because of the fast transaction speeds it allows for. But transaction speeds still come down to individual casinos.
That’s why you should check what the reviews say about the website you want to gamble on. Look out for recurring issues, check whether their payouts are timely, etc. This will ensure that the casino indeed supports fast deposits and payouts with Ethereum.
#5. Games Available
Everyone has their most and least favorite games. When choosing an Ethereum gambling site, you should check their selection of games and see whether there’s something you like.
You should also remember that any great online casino has a vast pool of available games, which is why you shouldn’t settle for anything less. Our list of sites should keep you busy for days, as there’s a wide range of games you’ll be able to gamble on at any of these Ethereum casinos (legally).
#6. VIP Programs and Bonuses
With Ethereum betting, you’ve got the biggest chance to score loads of bonuses. If you want to enjoy faster payments and withdrawals, better payout rates, higher jackpots, and more, the best idea is to join a casino’s VIP program.
Check the bonuses and VIP programs the gambling website offers, and see whether they are a good fit for you. Finding the right website can prove the difference between logging off empty-handed or with full pockets!
#7. Customer Service
Solid customer service is a staple of any online casino. If something happens to your Ethereum deposits, or if you’re experiencing a delay in your payout, you’ll want to have someone to resolve your issues.
That’s why you should always check out what customer service is like at an Ethereum gambling website. See whether they take inquiries over the phone or via email, how fast their response time is, how many hours they’re available, and so on. You can find this information in casino reviews online.
When it comes to gambling sites, security is naturally one of our top priorities, and it should be yours too. Betting on a website that’s not secure is like asking for financial trouble, so you should always check how secure the online casino of your choice is before betting on it.
To verify that security measures are in place at an Ethereum gambling site, you should check whether the site is encrypted, whether it’s licensed, and whether it had any security breaches in the past.
The proverb “you shouldn’t judge a book by its cover” is more than relevant when considering an Ethereum gambling website. An online casino might meet all your standards and be presented in such a way that it appears perfect. However, it might have a bad reputation among the gambling community, which you cannot tell just by the looks of the casino.
So, when looking for an Ethereum gambling website, check whether it has had any public disputes or faced any significant issues in the past.
#10. Player Pools
If you want to play games such as poker with Ethereum, you’ll want to have as many players around you as possible. A decent pool of players ensures that you always have someone to play with and can even engage in live tournaments. So, before opting for an Ethereum gambling website, see how many people play on its tables, as you don’t want to gamble in a ghost casino.
How We Rate the Best Ethereum Gambling Websites
If you’ve gone over our list of the best Ethereum gambling websites, you’re probably wondering how we rated them. What makes a website the “best” if it’s purely subjective?
However, to determine how good a website is, we consider many factors, such as:
- Licensing and Legality: The first and most important thing we consider is whether a website has all the required licenses as we want our readers to bet safely.
- Restricted countries: The fewer restricted countries an online casino has, the better, as more of our readers can visit it.
- Customer Service Channels: The number and quality of customer service channels directly influences the response time for inquiries, which is why we take this into consideration.
- Security: If a gambling website has two-factor authentication or any other high-level security measure, we will factor it into our ranking.
- VIP Programs and Bonuses: We want to ensure our high roller readers can enjoy VIP program benefits at the top Ethereum gambling sites, so we rank websites that have a good one.
- Payout Speed: This is more than logical, but sites with high payout times naturally make for a better gambling experience.
- Games Available: The wider the selection of games an online casino has, the better. We want our readers to enjoy playing at the legal Ethereum gambling sites we suggest, and that they don’t get bored after playing one game.
- Provably Fair: Provably Fair technology is a must nowadays, so we take it into consideration.
Ethereum Gambling: Pros & Cons
Can’t seem to decide whether to get into Ethereum gambling? If so, you should compare its benefits and advantages and see what works best for you.
We’ve made a list of all the pros and cons to help you see if Ethereum gambling is for you.
Ethereum Gambling Pros
- More Control: Cryptocurrency is stored in decentralized wallets that allow P2P (peer-to-peer) transactions. This means that you can send or receive Ethereum anywhere in the world without the intervention of an intermediary.
- More Privacy: As you aren’t required to provide personal information upon signing up to online casinos, you’ll be betting anonymously.
- Fast Transfers: Cryptocurrency transfers are incredibly fast with minimal fees implied.
Ethereum Gambling Cons
- Limited Support: With the perk of having a decentralized wallet comes the con of not having centralized support. This means that all transactions are final, and you must be extra careful when making deposits.
- Conversion Fees: Spending your winnings might require you to convert your crypto to fiat currency, meaning you’ll have to face some conversion fees.
Ethereum Gambling Sites FAQs
Do you still have any unanswered questions regarding Ethereum gambling sites? If so, don’t worry—we’ve answered the most frequently asked questions, such as:
#1. Is Ethereum Gambling Safe?
The short answer is, yes, Ethereum gambling is completely safe. Still, you should always verify that the Ethereum gambling site you’re visiting is licensed and has security measures in place before making any deposits.
#2. What Online Casinos Accept Ethereum?
We’ve made a list above of 10+ great online casinos that accept Ethereum. You can find more by conducting a quick Google search or checking our other articles on the best Ethereum gambling sites.
#3. How Can I Deposit Money on an Ethereum Gambling Site?
To deposit money on Ethereum gambling sites, you should head to the Cashier section of the website. There, you can input your Ethereum wallet address and connect it to your account. After that, you are ready to make a deposit using your Ethereum.
#4. Can I Gamble With Ethereum on My Phone?
Whether you can gamble with Ethereum on your phone depends on the online casino you opt for. If the gambling site of your choice has a mobile app, you can bet with Ethereum on your phone. In any case, you’ll easily be able to find mobile-friendly casino sites in our list in this article.
#4. What Is the Best Ethereum Gambling Site?
Check out our compilation of the 12 best Ethereum sites above in the article, and read through our tips on choosing an Ethereum gambling site to choose the best one for you.