If you are looking for some new bookmakers where you can deposit with Ethereum you have come to the right place. Take a look at our suggestions for some of the most popular crypto gambling sites.

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Introduction

Ethereum is a decentralized blockchain platform that allows developers to build and deploy smart contracts and decentralized applications. It was founded by Vitalik Buterin in 2013. Ethereum introduced a groundbreaking concept beyond cryptocurrencies and quickly became one of the leaders in crypto world. It’s native cryptocurrency, Ether (ETH), serves as both a digital currency and fuel for executing operations on the Ethereum network. Ethereum’s flexibility and support for smart contracts have made it a leading platform for blockchain innovation, powering a wide range of applications in finance, gaming, supply chain management and gambling as well.

Sports Betting With Ethereum

Ethereum quickly garnered attention in the betting world because of its convenience and features making it extremely efficient especially for players holding bigger balances in their wallets and those searching for faster transactions. Main features why players are looking for Ethereum betting sites include:

  • Anonymity and Decentralization – anonymity is always a key factor when using crypto and Ethereum comes to use here. Although when you are using your profile you enter your personal details, there are plenty of crypto sites that only require email and you are good to go. Even if you are playing in a site that requires personal information you don’t need to enter debit card or bank details which makes Ethereum attractive for players who don’t like to share personal data.
  • Geo Restrictions – every country has it’s own specifics when it comes to gambling. Recent legalizations of online betting led to severe restrictions when it comes to accepting customers from some territories. And most local gambling operators do not provide crypto options to deposit. Local license means security of funds, but also means limitations on how you play.
  • Faster deposits and withdrawals – using crypto is not necessearily faster, but if the bookmaker you are using is legit, than you should expect withdrawals within minutes or hours. Something that traditional methods like bank transfer might not be suitable for players in many cases
  • No KYC/Source of wealth bookmakers – privacy of data is important for many bettors. While uploading our ID card was enough several years ago, nowadays bookmakers and casinos are very strict when it comes to verifying our accounts, mostly because of local regulations. So if you deposit bigger amounts of money you are very likely to be requested bank statements and paychecks as part of regulatory requirements. Using Ethereum in legit crypto gambling sites is highly unlikely to trigger these checks unless you are high-roller depositing thousands.

Ethereum VS E-Wallets

Although E-wallets are not your typical bank, they are still financial institution that needs to oblige regulatory requirements. Ethereum and other cryptocurrencies are still not part of this game. Although Jeton and Muchbetter have been able to provide some very decent options for bettors worldwide recently, e-wallet market is in decline for the past years. Skrill and Neteller which used to be the best friend when it comes to betting online, keep on rising their fees and requirements and more and more people turn to Crypto because of this.

Ethereum VS Bitcoin for Gambling

Bitcoin and Ethereum are both digital currencies – they provide pretty much the same but at a different price. Ethereum transactions are faster, but when it comes to paying fees on what you deposit things might not be the same. Crypto movements are always volatile and when there is big price change this also affects fees. Although Bitcoin and Ethereum networks are subjects of improvements fees are very important when it comes to deposits in volatile times. Make sure to always check what you are paying on your deposit or swap to another cryptocurrency to make better use of what you have. Many crypto bookmakers also provide you with the opportunity to exchange your crypto in fiat money when making your deposit so this is also something you should keep in mind.

Disadvantages When Using Ethereum in Gambling Sites

  • Fees – the gas fees on ERC20 network are usually higher than other networks, which makes Ethereum betting useless if you playing with lower balances. This is about to change with some recent improvements of the Ethereum ecosystem, however if you are about to use Ethereum for deposits less than 100$/€ we recommend that you don’t use Ethereum for gambling, but swap to another currency.
  • Most local gambling providers do not support Ethereum – this is something that some people find as a positive and some people find as a negative. Crypto is still grey area for many countries and bookmakers are not able to provide crypto options locally. So players are searching for options in offshore countries where they can safely bet with crypto. Not long ago playing offshore was not very safe option when it comes to reputation of the sites, however now there are plenty of sites that do not acquire local licenses, but tend to stay in offshore territories just to be able to provide services they are otherwise unable to provide if they are licensed in USA, UK, Germany or other territories . Stake, Duelbits, Roobet, Gamdom and many other big names have shown that you don’t need local license as a proof that you site is legit. We live in an era where everybody can research if the site you want to register in can be trusted in a matter of seconds when you make a google search.

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