Keep reading for more details regarding:
- How to bet using Ethereum.
- What is the difference between Bitcoin and Ethereum and what better to use for wagering.
- How to place ETH deposits and withdrawal requests.
List of the Best Betting Sites That Accept Ethereum
Betting sites that accept Ethereum have higher wagering limits, low minimum deposits, and no withdrawal limits. Most legitimate anonymous Ethereum sportsbooks are highly secured and encrypted and do not charge additional fees.
Some ETH accepting bookmakers are restricted in several countries. Ensure you check if your selected bookmaker is not limited to your region. The following are legitimate Ethereum online bookmakers: BetOnline, BetUS, Fortunejack, Stake, SportsBetting, Bovada, CloudBet, 1xBet, William Hill, Coral, Bet365, Ladbrokes.
Make a Deposit and Claim Your Bonus
Betting sites that accept cryptocurrency as a payment offer exclusive bonuses and promotions. Most ETH betting sites provide nice welcome bonuses, but a few have restrictive terms and wagering requirements. It is essential to join these betting companies’ VIP programs to get the most of their bonuses and offers. Do personal research on the terms and conditions for bonuses and promotions for your selected ETH betting site.
How to Use Ethereum for Betting
Ethereum to place bets on sport and games is simple, quick, and convenient to use. Here are a few tips on how to maximize the use of ETH for sports betting:
- Purchase Ethereum from a reputable and trusted cryptocurrency exchange platform, e.g., Binance.
- Register with an online Ethereum sportsbook.
- Go to your dashboard on the Ethereum betting site of your choice, select the cashier section.
- Choose ETH as your payment option. You will be directed to a page to connect your Ethereum wallet address to your betting account.
- After connecting your wallet address, select how much ETH you want to deposit. Your transaction will be processed, and your betting account will be funded in a matter of seconds.
What Is Ethereum?
Ethereum is a smart contract digital currency. It is used to make swift, secure, and untraceable transactions. Ethereum is the second internationally recognized decentralized cryptocurrency. It is used to perform transactions online. Ethereum is an investment as it appreciates and depreciates over time. It functions on an open-ended system. Every transaction performed on the Ethereum network can be seen as long as you have the transaction ID. ETH offers total transparency.
How to Buy Ethereum
There are numerous ways one can purchase Ethereum on the Internet. The most popular method is the use of crypto exchange platforms. These platforms are divided into fiat currency exchanges or cryptocurrency to cryptocurrency exchange (C2C). Fiat currency exchange is when you use the money to buy cryptocurrency. C2C is when you use a cryptocurrency to buy another cryptocurrency.
Here is a guide on how to buy ETH:
- Create an account with a cryptocurrency exchange platform that you find suitable. You will be asked to upload legal documents to verify your identity.
- After verification, if using a fiat currency exchange platform, deposit money by adding your card or bank transfer.
- Proceed to use your deposited sum to buy the amount of Ethereum you wish.
- If using a C2C exchange platform, this can be more complex. You will need to send cryptocurrency by code from one wallet address to another.
Ensure that your selected cryptocurrency exchange platform is secured, trusted, and legal. Here are a few reputable platforms: Binance, Coinbase, KrakenKingdomi.
Making Deposits with Ethereum
Ethereum’s deposit process is slightly different from all other deposit payment options. Select Ethereum as your deposit method. After this, the sportsbooks ether wallet address will appear. Copy the address. Send the amount you want to deposit to the address from your Ethereum wallet address. Your betting account will be funded within minutes, and the funds will reflect in your chosen fiat currency. Most betting sites that accept Ethereum do not charge deposit fees.
Requesting Withdrawals with Ethereum
Using this payment option for withdrawals is instant and secure. You can either convert your winnings to your fiat currency, note that additional charges will occur if you proceed this way, or you can withdraw your winnings from your betting account to your wallet address. Withdrawing your winnings directly into your wallet address removes the possibility of further charges.
Most Ethereum betting sites only charge withdrawal fees. Taxes are not charged on your winnings because your transactions are anonymous unless you fill KYC forms for some betting sites and, in the process, give away some personal information. Withdrawal fees are only a proportion of the withdrawn amount. Some bookmakers change fees for conversion. It is when you convert your ETH to a fiat currency.
Countries Where Ethereum can Be Used for Sports Gambling
Not all countries allow the use of Ethereum and other cryptocurrencies for gambling. Some countries prohibit the use of Ethereum betting platforms. The following are countries that will enable ETH and other cryptocurrencies to place bets online: Canada, Japan, Australia, United Kingdom, Greece, Belgium, Netherlands, Poland.
Ethereum Alternatives for Betting Online
If you find the use of Ethereum as a means of payment too complicated, here are several alternatives: Bitcoin, Debit card, Neteller, Google Pay, Bank transfers, Litecoin, Skrill, Credit card, Paysafecard, Paypal, Apple Pay, and many more. Kindly note that you will not be eligible for some bonus offers and promotions if you use some of these payment options as your preferred method to place deposits.
Differences between BTC and ETH
These 2 widely recognized cryptocurrencies have similar blockchain technology, open-ended systems, and distributed ledgers. The difference is that Ethereum has a smart contract, and it is a programmable blockchain, which allows it to develop secure decentralized applications. While Bitcoin is designed to be an alternative for normal currencies, it is just a decentralized digital currency. The difference is in their contracts. Every other feature is similar. Ethereum was developed to complement Bitcoin and make up for what it lacked.
How to Stay Safe When Betting with Ethereum
There are only a few reputable and legal Ethereum betting sites. Some betting sites that accept Ethereum for gambling are restricted in several regions. Here are a few tips on how to stay safe when betting with ETH:
- It is advisable to check if your selected ETH bookmaker is allowed in your region. You can use virtual private networks (VPN) to access restricted sites.
- Ensure that your chosen cryptocurrency betting site is regulated, licensed, and has SSL encryption.
- Read reviews about the ETH sportsbooks to find out if it is trustworthy.
- Enable 2-factor authentication (2fa). It is for added security measures.
When entering personal information into any betting site, use caution and wager wisely.
You don’t have to enter any personal information because Ethereum bookmakers offer anonymity. You also do not need to go through any verification process for Ethereum betting sites. The only verification you’ll perform is on the cryptocurrency exchange platform of your choice. You can also carry out transactions using different wallet addresses. ETH betting sites do not require you to fill KYC (know your customer) forms.
New Ethereum-Friendly Sportsbooks
The use of crypto for placing bets is beginning to catch on. The number of betting companies accepting cryptocurrency as a form of payment is increasing daily. Bookmakers are taking this payment method because punters appreciate anonymity, speed, and security and there are no withdrawal limitations. The following are new Ethereum-friendly sportsbooks: Sportaza, Cyberbet, Anonym Bet, Rabona.
Is It Worth Using Ethereum for Betting Online
Ethereum betting sites offer great odds and exclusive bonus offers. It is a payment option that provides anonymity, is highly secured and fast. It is a great investment when there is a positive swing in the price for the ether cryptocurrency. Your winnings are appreciated. The payouts are better in bookies that accept ETH. You can place a bet with ETH on any sport such as Esports, basketball, football, tennis, basketball, horse racing, and many more. You can even play casino games using Ethereum.
Advantages of Using Ethereum for Online Betting
Here are the pros of using Ethereum for online wagering:
- After confirming the transaction, making deposits and withdrawing funds takes only a few minutes. It is simple to use.
- There are no third parties involved. It utilizes the peer-to-peer method (p2p).
- ETH betting sites offer great bonuses, huge payouts, and VIP promotions.
- The value of the ETH cryptocurrency is not stable. A positive price increase can significantly enhance your winnings.
- ETH bookies have low minimum deposits and no withdrawal limits.
- There is guaranteed transaction safety. Ethereum distributed ledger allows for transparency and enables you to keep track of transactions.
Disadvantages of Betting with Ethereum Online
Here are some downsides of using ETH for wagering:
- Due to the cryptocurrency regulations, there are only a limited number of Ethereum accepting sportsbooks.
- Transactions are irreversible. There is no way to recover your money back if you send or withdraw funds to the wrong ETH wallet address.
- The volatility of cryptocurrency also has its disadvantages. If there is a negative price swing for the ETH cryptocurrency, this will reduce the value of your winnings, resulting in a loss.
- The cryptocurrency regulation in each country is very flexible. A country can make sudden amendments to its rules regarding cryptocurrencies, which in most cases has only given negative results.
- Using Ethereum to make transactions isn’t as simple as using a debit card or a bank transfer. Some bettors may find this method quite complex.
Not all countries have accepted the use of cryptocurrency as a digital currency. Various regions have different cryptocurrency legislation, and some countries have outright bans on cryptocurrency. Ensure to do your research and learn more about the cryptocurrency regulations in your country.
- Countries that allow the use of Ethereum for sports betting include: Canada, Japan, Australia, the United Kingdom, Greece, Belgium, Netherlands, Poland.
- Benefits of using Ethereum for betting are anonymity, speedy transactions, huge payouts, exclusive bonus offers, no withdrawal limits, low transaction fees, transparency.
- Popular sports bet types in Ethereum betting are parlay bets, prop bets, moneyline bets, midline bets, point spread bets, specials.
- Alternatives for online betting with Ethereum are Bitcoin, Google Pay, Skrill, debit card, Neteller, Paysafecard, Trustly, credit card, Apple Pay, bank transfer.
- The best sports betting sites that accept Ethereum are BetOnline, BetUS, Fortunejack, Stake, SportsBetting, Bovada, CloudBet, 1xBet, William Hill, Coral, Bet365, Ladbrokes.
- Countries that restrict Ethereum bookmakers are India, Denmark, Bolivia, China, Iran, Bangladesh, Nepal, Thailand.
When it comes to total privacy, transparency, secured and fast transactions, Ethereum betting sites are your best option. Ethereum is not yet widely recognized as a payment option, and cryptocurrency is banned and highly regulated in some countries. With time, more countries will accept and legitimize the use of cryptocurrencies.
Cryptocurrency legislation is not uniform between countries and jurisdictions where it is accepted, which might be a concern. Register with one of the best Ethereum betting sites, have access to exclusive deals and enjoy a fantastic and thrilling betting experience. Remember to gamble responsibly, also cross-check the wallet address before inputting it for any transactions to avoid costly mistakes.
Frequently Asked Questions
Is Ethereum betting legal?
Yes, Ethereum betting is allowed in regions that accept cryptocurrencies as a means of payment. Each country has its cryptocurrency legislation, so check to see if betting with cryptocurrency is legal in your country. Some bettors use VPN to access ETH betting sites because it is not allowed in their places.
Is betting with Ethereum safe?
Betting with Ethereum is safe and highly secured. Make sure you don’t make any mistakes when completing crypto transactions, as they are irreversible and non-refundable. Sign up for ETH bookmakers that are reputable and trustworthy.
What is the best Ethereum betting site?
There are a few legal and reputable Ethereum betting sites. They offer complete privacy/anonymity. The following are the best ETH bookmakers with great odds: Bovada, Bet365, BetOnline, Cloudbet, and many more.
Where to buy Ethereum?
There are various ways to buy ETH on the Internet. The most used method is the crypto exchange platforms. Purchase ETH from a cryptocurrency exchange platform or a friend. Choose a legitimate crypto exchange platform that meets your needs and use the peer-to-peer method to buy ETH on it.