Ethereum Sports Betting

How do Ethereum Sports Betting Sites Work? Never placed a bet at an Ethereum sports betting site before? The good news for you is the process is super-easy. In fact, you should be able to open an account, deposit funds, and place your first bet in less than 10 minutes.

Do not think that Ethereum is just a tool for transferring money? Well, Thanks to external application support, the Ethereum blockchain can be used for much more! Sportsbooks are just one of the examples: Sports betting sites that build all their infrastructures on the blockchain can offer a much higher quality service to its members. For example, what do you think of a betting site that makes guaranteed instant payments? By choosing an Ethereum Sportsbook, you can easily get this and much more. Blockchain technology makes sports betting more fun and more profitable.

Top Ethereum Sportsbooks

• Other Common Types of Ethereum Gambling Although sports betting is one of the most popular forms of gambling, it certainly isn’t the only one. Nowadays, sportsbooks also include classic casino games such as poker, blackjack, roulette, as well as lotteries, bingo.
• Ethereum Sports Betting Sites Must Have a Valid License. The first thing that I recommend you to always check in any bookmaker is whether it holds a valid gambling license or not. If an Ethereum sports betting site doesn’t have authorization of this sort or that right to.
• Ethereum sports betting is a relatively novel way of doing things, but it can be a very safe and effective way to place your bets. You can take advantage of the anonymity of the cryptocurrency, along with the high transaction speed that can make for a more streamlined betting process.

What is an Ethereum Sportsbook?

The betting sites that work on Ethereum blockchain are called Ethereum Sportsbooks. These sites also have a web address and therefore a server, but the betting platform they use is not stored on a particular server. The Ethereum blockchain is a decentralized network and can run external applications. Sportsbooks sites use this feature of Ethereum and build all their infrastructures on the blockchain. The betting interface you see on your screen actually works on a huge and anonymous database. Ethereum sportsbooks sites also have many advantages that cannot be found in regular betting sites, as we will mention below.

Ethereum Sports Betting Strategy

How Do Ethereum Sportsbooks Work?

There is no difference in the way betting works. An Ethereum sportsbook does not offer a special type of bet and/or change the way of how the current bets work. Bettors can easily switch to an Ethereum sportsbooks site without having to re-learn the system. The difference of these sites is the advantages they offer to their members. If we list them briefly:

• Full Anonymity. Ethereum sportsbooks sites do not ask for your credentials for membership and payments. It is possible to complete all operations using only an email address.
• Maximum Security. You do not need to share your credit card or bank account details with third parties to make a payment. Your Ethereum wallet address is the only thing you need. Nobody else can access your financial information.
• Instant Payments. Each bet on Ethereum sportsbooks sites is a smart contract. You get immediately paid right after you win a bet. All payments are guaranteed.
• Lower Fees, Faster Transactions. All transfers on Ethereum blockchain are completed in a few seconds and the fees are much lower (compared to Bitcoin). You can bet with very low amounts.
• Higher Odds, Lower Edges. Due to the reasons we will explain below, the house edge of Ethereum sportsbooks sites are lower and their odds are higher.

Ethereum Sportsbooks vs. Regular Sportsbooks

Ethereum Sports Betting Game

Regular online sportsbooks must use an electronic gambling license. This license is issued by different institutions and those who are respected are extremely expensive. To ensure maximum reliability, it is also necessary to work with auditors and allocate a budget for this. Regular betting sites have to allocate a large part of their annual budget to licensing and auditing fees. Moreover, despite all this, they still cannot accept members from every country and they have to deal with many legal problems. Sometimes it is not even possible to pay members because the laws of the country where the member lives are preventing money transfers from betting sites. For these reasons, regular betting sites are subject to many restrictions and have to focus on legal issues rather than on player satisfaction. All these expenses also reduce their profits. So they need to use higher house edge rates to keep their income. For example, you can earn up to $ 95 for every $ 100 investment since the house edge rate of regular sportsbooks does not go below 5% in general.

Ethereum sportsbooks sites have a maximum of 1% house edge above all else. So you will earn more for your investment. They do not need to use licenses and no external audit is needed, so they can use their budgets much more freely. They are not subject to geographical/legal restrictions and can accept members from anywhere in the world. Payments are no problem: Over the blockchain, all transactions are completed anonymously within a few seconds. So the laws of the countries where the members live are not important to Ethereum sportsbooks sites. Since the banking system is not used, it is not necessary for neither the members nor the site to pay a fee to payment providers. Ethereum sportsbooks are sites that can use their budget to provide customer satisfaction. Therefore, they offer a much more satisfying betting experience and much higher odds.

Ethereum or Bitcoin? Which Should I Choose?

Without a doubt we would have to go with Ethereum sportsbooks. There are many reasons for this, but all of them are due to the fact that Ethereum sportsbooks are platforms that work on the blockchain. Bitcoin sportsbooks are just websites that accept BTC. You can transfer money and place a bet anonymously, but that’s all: The site itself is still running on a central server. So it may be seized by the government, your access may be blocked, and/or site administrators may vanish with the Bitcoin they collect. Bitcoin does not have a solution for these problems.

Ethereum solves all potential problems with the smart contracts infrastructure. With an Ethereum sportsbook, every bet is a contract and the payout is already stored on the blockchain. If you win the bet (if you fulfill the terms of the contract), you receive your payment instantly. The system works automatically and needs no manual approval. By working on the blockchain, Ethereum sportsbooks can stay on a decentralized network. In other words, there are no central servers: Governments cannot seize and/or block access to the server. Using Ethereum is also advantageous for site owners because micro-management problems do not exist: They can get rid of most of the costs they have to make if they were using a central server. In short, Ethereum blockchain offers many advantages to both bettors and sportsbooks. Finally, we can say that Ethereum sportsbooks sites have a lower house edge compared to Bitcoin versions: This ratio is usually less than 1%.

The number of Ethereum sportsbooks sites is less than Bitcoin versions. This is because a higher level of technical expertise is needed to carry a betting platform onto Ethereum blockchain. A regular sports betting site may begin to support Bitcoin without having to make a separate investment. For Ethereum, they need to change all their systems. For this reason, Bitcoin sportsbooks sites are much more numerous. But this is a temporary situation and the number of Ethereum sportsbooks sites is increasing day by day. This will be a very positive change: After all, Ethereum offers an advantage for everyone in the online betting industry.

Latest News

These days, it is hard to turn on a television or read any of your favorite
news sites without hearing about the blockchain and cryptocurrency. This new
wave of payment methods has descended upon us, and while some have been around
for almost a decade, many are being launched as we speak. The gambling world was
one of the first industries to embrace this new technology from a payments
perspective, and as a result, it is one of the leaders when it comes to
integrating new cryptocurrencies as they are released.

Ethereum has not been around for that long but is widely accepted as a safe,
secure payment currency. This page is dedicated to all things Ethereum gambling.
We are going to try to keep it as simple as possible, and focus on the use of
Ethereum in the gambling world.

While we will go into more detail on each type of Ethereum gambling sites
thatare available, we thought we would compile our favorites from all of our
expert reviews here for you. These sites not only cover a wide range of gambling
options, but they also represent the absolute best when it comes to player
satisfaction. If you try any of these sites, we are confident you will have a
positive experience.

What Is Ethereum?

Ethereum is a type of blockchain-based, decentralized computing platform.
This platform is supported by millions of machines which are used to create a
blockchain of transactions, which in turn are highly secured as they are stored
on all the machines at once. The Ethereum blockchain, just like with Bitcoin, is
a publicly-viewed ledger containing all the transactions of the currency that it
empowers, which is in this case called Ether.

This cryptocurrency, along with all the others, is used for online payments
and is presented in a peer-to-peer format. It was launched in 2015, and in the
relatively short period of time of its existence, it has grown in size and value
around the world. There are several similarities between Ether and other
cryptocurrencies, not the least of which is that they can be used in large part
for online gambling. There is an increasing number of sites accepting Ether, and
there are some sites that only accept cryptocurrency for payments, shunning the
traditional FIAT currency options.

One major advantage over Bitcoin that the creators of Ethereum cite is the
speed of each transaction. While a Bitcoin transaction can take over 10 minutes
to complete, the system that Ethereum is built on speeds that process as quickly
as 15 seconds!

How to Get Starting with Ethereum Gambling

Ether (ETH) is the currency that is offered on the Ethereum platform, and it
is being bought and sold as a commodity as well as being used as a currency
itself. So, how do you go about buying Ether and then using it for gambling?
Here’s a step-by-step overview:

• Open a Cryptocurrency Wallet

The first thing you need to do is to open a wallet that is designed to hold
all your cryptocurrencies. There are many wallets available on the market today
– here are many of the most popular for you, so you don’t have to do too much
research.

• Coinbase
• Gemini
• CEX.io
• Bittrex
• CoinMama
• Kraken

You can head to any of these sites, enter your personal information, and open
yourself an account. There is going to be a verification process that may
involve a phone call, so be prepared to complete this verification before you
can buy your Ether.

• Enter Your Financial Details

You are going to fund your wallet with regular currency, which you can do
from your bank or credit card. The funding option you choose may very well have
a limit attached to it (for example, Ethereum doesn’t want you to buy tons of
ETH on your credit card). When you have created an account, you will be prompted
to enter your FIAT banking information. This will allow you to move your
cryptocurrency back and forth to your traditional bank account.

• Purchase ETH

Your wallet will give you many options for the cryptocurrency you are able to
purchase. All you have to do is search for Ether, and when you find it, select
the amount you want to buy and complete the transaction. Once that is done, you
will see your balance in your wallet account. Congratulations, you are now the
proud owner of cryptocurrency!

• Find an Ethereum Gambling Site

We have given you a few options above, and there are hundreds of sites that
we have reviewed for this site, so there are plenty of options for you to choose
from when looking for a place to use your Ether. As you will read further down,
there are many different types of Ethereum-friendly sites, and we will spend
more time on each one in more detail.

• Connect Your Cryptocurrency Wallet to Your Gambling Account

Once you have found the ethereum betting site you want to use, you can head to the
cashier section. There, you will find the payment options, which will include
Ether. When you choose that payment method, you will be directed to a site that
will connect you to the casino via the Ethereum blockchain. Here, you can select
how much you want to deposit with the site, and a few clicks later, your account
will be funded!

Pros and Cons of Using Ether

Unlike using traditional methods of payments at an online casino, Ether comes
with its own set of pros and cons. Let’s cover some of the more important ones
here:

Security

Everything you
do on the Ethereum blockchain, including using Ether as a payment method at an
online gambling site, is completely encrypted, meaning your information cannot
be compromised. Casino sites will not have access to any of your payment
information.

Speed

The transactions using the Ethereum platform compared to other payment methods take far less time
to complete, meaning you will get your money faster when you process a
withdrawal.

Costs

Because of the digital nature of the transactions, Ether payments cost players far less if
anything at all to process, allowing you to keep even more of your winnings.

Limits

The secure nature
of Ether drastically lowers the possibility of fraud, so players who use the
currency are more likely to be given higher betting limits as well as deposit
and withdrawal limits.

Bonuses

Many sites are
encouraging players to use Ether as a payment method, offering far larger
deposit bonuses to players who choose to use this cryptocurrency. Check out our
individual site pages for the best places to look for Ethereum bonuses.

Volatility

These new
cryptocurrencies have a real-world value, and they are currently being traded
the same way you would a traditional stock. The rapid growth of the industry
sent prices of Ethereum on a roller coaster, so not only are you going to be
gambling with Ether at a poker table, but you are also gambling on the value of
the currency when you decide to buy and sell it on the open market.

Site security

Not every
site that offers Ether as a payment option has a gaming license, and this can
lead to issues with security as a whole. While your cryptocurrency transactions
are secure, the site still has to approve payments, and rogue casinos without
licenses are more likely to cause trouble with their players.

Availability

Even though
the online gambling industry was one of the first to accept cryptocurrency,
there are still a majority of sites that do not accept Ether as a payment
method. While the number of sites that accept Ether will continue to grow, you
will need to do some research or read our site to find out the places you can
use this currency to do all your gambling.

Ethereum Gambling Sites

Even though the number is changing on a daily basis, the good news is that
more and more sites are starting to accept Ether for gambling purposes. Here are
the different types of Ethereum sites that you will find.

Ethereum: Casino Sites

Casino sites are where you are going to find the most competitive offers for your Ether deposits. These can come in any form, a download casino you use on your PC or an app you download to your phone or tablet. Regardless, you will find slots and table games at the best ethereum gambling sites. There are even sites that offer only cryptocurrency as a payment and gameplay option. Our Ethereum casinos page covers everything you need to know about the best places to play.

Ethereum: Sports Betting Sites

Sports betting is getting a lot of press these days, especially in light of the potential for regulation across the United States. It seems inevitable that Ethereum betting will be on the rise, and in fact, you can find sites now that are developing technology for you to use Ethereum to place wagers, without ever having to deal with a site itself. Until that time, there are plenty of traditional ethereum betting sites, and we’ll review a bunch of them for you on our sportsbook page.

Ethereum: Esports Betting Sites

Esports seems like the perfect spot for Ether to be used. The esports landscape is growing exponentially, and much like poker before it, it is allowing players from across the world to play in games simultaneously and without interruption. As the betting on esports continues to grow, Ethereum is well positioned to be one of the major payment mechanisms for this millennial-driven market.

Ethereum: Online Poker Sites

Poker was one of the first games to accept cryptocurrency, and the sites continue to lead the way. There is something about a poker player that seems to make them early adopters of new technology, and Ethereum is no exception. Whether you are looking to play tournaments or cash games, and no matter the stakes levels, there are poker sites available to play with Ethereum.

Conclusion

Despite only being active for less than three years, Ethereum has risen in
value and in credibility, challenging Bitcoin as one of the leaders in the
cryptocurrency space. We are bound to see an increase in eth gambling sites, and as we do, we will continue to
update our site reviews as well as this page, so you are always aware of what
great sites are available for real money cryptocurrency gambling.