Ethereum and Online Gambling
Ethereum is the second-biggest cryptocurrency in the world, right after Bitcoin. It has been the runner-up for a long time, and it's clearly here to stay.
Besides the fact that it offers a wide range of benefits to investors, developers, and crypto enthusiasts, it's also incredibly useful for online casino gamblers. Players can use this digital currency like any other to make transactions in online casinos and gamble.
It's not available in every online casino, but it's certainly widespread, and out of all cryptocurrencies, only Bitcoin is a more dominant force in online gambling. Bitcoin casinos are the most numerous, but Ethereum casinos are a close second.
With so many exciting opportunities available, you're undoubtedly wondering how you can use ETH for casino gambling and which Ethereum casinos are the best choice for you. That's precisely what we want to explain in this piece.
We'll give you our picks for the top ETH casinos on the market, but we'll also tell you everything you need to know about using Ethereum in online casinos, how to deposit or withdraw, the pros and cons of this payment system, and more. So, without further ado, let's begin.
What Is an Ethereum Casino?
An Ethereum casino Ethereum casino is an online casino that lets you use Ethereum to make deposits and withdrawals and, most importantly, gamble. In other words, it replaces fiat currency in your online casino account.
ETH casinos can be:
- Real-money casinos that offer Ethereum as one of the various payment methods
- Crypto or ETH-exclusive casinos that only let you gamble with cryptocurrencies or just Ethereum
Ethereum casinos are not to be confused with Ethereum Classic casinos. The two use different cryptocurrencies — Ethereum or Ethereumn Classic.
At their core, Ethereum casinos are the same as regular online casinos. The main difference is that using Ethereum for gambling is more beneficial for several reasons:
- Transaction speeds are faster.
- Withdrawals are quicker, often instant.
- Fees are much lower.
- The payment method is more secure than traditional ones.
How to Get Started With Ethereum Gambling
Before you start using ETH on a casino site, there are a few things you need to understand. Moreover, you need to obtain a few things: a wallet and enough Ethereum. Let's see how all of this works.
Ethereum Wallet
The main thing you need to get to start using ETH on a gambling site is an Ethereum wallet. This digital app interacts with your Ethereum assets and lets you quickly transfer them anywhere, including ETH casino accounts.
If you've ever used a crypto wallet like a Bitcoin wallet, you'll know how these work as they are essentially the same. That's because most crypto wallets let you store both Ethereum and Bitcoin.
No worries, if you've never used a crypto wallet, they are pretty simple to understand, set up, and use. They are essentially the same as banking apps, with the main difference being that they use Ethereum instead of cash.
Most Ethereum wallets are apps you can install on your phone or computer. You only need to register an account and set it up by following the instructions and inputting the necessary personal information. Once that's done, you can set up your Ethereum address, transfer some ETH, and start using it.
Naturally, you'll first have to buy ETH on an exchange if you don't already have it, as you would buy Bitcoin or some other crypto. In some wallets, you'll get the chance to buy or sell Ethereum directly in the app without having to visit crypto exchanges.
Some of the best Ethereum wallets you can get include Exodus, Coinbase Wallet, Electrum, Metamask, Trezor One, Ledger Nano, Guarda, and Atomic Wallet.
Provably Fair
If you're going to gamble in any crypto casino, you should know about provably fair games. This blockchain-led technology powers Ethereum games, Bitcoin games, and other crypto-casino titles.
It's a substitution for the widely known Random Number Generator technology that keeps the events in casino games random. Provably fair does a similar thing, but it also goes a step further — ensuring the functionality behind the game is fair and transparent.
Due to this, no one can later change the underlying RTP or house edge in the game, not even the casino in which you're playing. Provably fair is thus much better than RNG as it ensures players are never tricked by a casino or game provider by keeping the inherent randomness unchanged.
Payment Limits
Every online casino has specific lower and higher deposit and withdrawal limits players must respect. It's a way of ensuring players don't deposit too little or too much at a time and that they can't take a massive amount of money out of the casino when it can't afford to pay out due to cash flow limitations.
So, limits are necessary, and we've gotten used to them. However, Ethereum and other crypto casinos are changing this by placing broader payment ranges. Most notably, Ethereum casinos let you request larger payouts, so you can effectively take out all your winnings, even if they are much larger than usual.
Withdrawal Speed
Withdrawal speeds have always been a problem on many online casino platforms, especially when bank transfers and credit card, card withdrawals.
These withdrawals typically take a day at the least and up to seven or ten business days at most to complete. This is certainly a lot and a hassle for many gamblers.
However, with Ethereum casinos, the withdrawal speeds are much faster. They are even faster than Bitcoin transactions which typically take around 30 minutes. Ethereum transactions are usually instant or virtually instant as they take only 15 seconds or so, making them some of the best instant withdrawal casinos you can use.
Naturally, this might differ from one casino platform to another, as every casino has to process a withdrawal first, so it might take a few hours or a day to process an Ethereum withdrawal. But, in most high-quality casinos, it will be finished in only a few seconds.
Customer Service
Customer service is typically better at Ethereum casinos than in regular ones, but that's far from a rule. Things like this always vary on a casino-to-casino basis. Still, the important thing is that these casinos are typically international, which means that customer support operates 24/7 in most cases.
Availability
Ethereum casinos are already ubiquitous, almost as much as Bitcoin casinos. As it's one of the most popular cryptocurrencies, finding a casino that covers Ethereum transactions won't be hard. In other words, if a casino covers cryptocurrencies, you'll almost certainly find Ethereum among them.
To choose a great Ethereum online casino, you must carefully assess its value, variety, and quality of games. To do that, make sure to check the following aspects:
- Casino license — A proper license is crucial in the gambling industry, and you want the place you've chosen to spend money on to be safe, fair, and legitimate. This is even more important with crypto casinos, as many scammer sites exist.
- Welcome bonus — Check the welcome bonus to see that it offers enough without imposing too many terms. This should be the case with other bonuses as well.
- Game library — As is the case with any casino, you want the ETH casino you choose to have an extensive game library that includes a wide range of slots, table games, live dealers, and other compelling titles from popular game providers.
- User interface — The casino needs to have a simple account set-up process, an intuitive interface, and a modern design that functions well.
- Withdrawal policy — This should be simple, without a strange fee, high limits, and regular wagering requirements on bonuses.
These are the basics, but you should also check a few other things like security, game provider list, and customer support. If it's all too complicated, you can always pick one of the ETH casinos we recommend, as we use this same methodology to select the sites we suggest.