Ethereum Sports Betting
Ethereum, or ETH, has become popular in sports betting. It is accepted as a deposit and payout method at some online sportsbooks.
It is a cryptocurrency, similar to Bitcoin and Litecoin, among others. However, due to its smaller market share, you may not find it as a banking option everywhere.
Go through our quick guide to learn more about using Ethereum to bet on sports, its benefits, and the top sportsbooks that accept ETH.
Complete Guide To Ethereum Sports Betting
Best Ethereum Betting Sites 2020
Do Gambling Sites Accept Ethereum?
Ethereum is growing as a popular sports betting crypto, but it may not be accepted at most online betting sites. Some major online sportsbooks do accept ETH as a deposit and withdrawal option, so check out our recommendations below.
Considering cryptocurrencies are a much better option for both the players and operators, ETH gambling and crypto gambling may become the norm in the future.
Best Ethereum Betting Sites
Ethereum betting is becoming increasingly popular at offshore betting sites. Many of the major sites that accept Bitcoin, have also started accepting Ethereum as a deposit and payout method.
Ethereum sportsbooks were just a pipe dream a year or two ago, but now each and every day, more and more are adopting ETH.
With Bitcoin’s fees getting a bit higher and transaction speeds getting lower – Ethereum may overtake over cryptos in sports betting online.
Below are some of the top online sportsbooks that accept Ethereum to use when betting on sports:
|Rank||Safe Ethereum Sites||Deposit Bonus||Get Started|
|#1||50% Up To $1,000||Bet & Win|
|#2||50% Up To $1,000||Bet & Win|
|#3||50% Up To $200||Bet & Win|
Pros & Cons Of Using Ethereum For Sports Betting
ETH gambling is much faster than using your other payout methods, such as a check or bank wire to receive payouts. Most of the time, Ethereum payouts are processed in 48 hours or less.
It’s a misconception that cryptocurrency is entirely anonymous, but it does provide more anonymity and security than exposing your credit cards or bank accounts. Ethereum gambling doesn’t shield you from personal information hacks but does a better job than other cashier methods.
ETH is far more cost-effective compared to other methods when it comes to payouts.
Checks and bank wires usually cost $50 to send out and take considerably longer to process. Different methods, like cash transfers, have fees that can exceed 20 percent. They also have a much lower maximum amount compared to ETH which is usually around $10,000 per transaction at offshore sportsbooks.
Fewer Options Than BTC
Bitcoin is still the leader when it comes to cryptocurrencies, both regarding market cap and acceptance at sportsbooks. Ethereum gambling may overtake BTC someday, but for now, Bitcoin is accepted by just about every sportsbook while ETH only has a select few.
As mentioned above, most Ethereum sportsbooks convert to USD upon receiving the funds, but if you’re using any cryptos, price volatility is a concern. It can crash (or go up) and the value will fluctuate every minute. For some, that’s not what they want in a currency.
Using a cryptocurrency certainly seems like a daunting task to those who have not utilized one before. However, they’re relatively easy to use. Still, it may be tougher for some to get started.
Bitcoin acts similar to Ethereum in function. Here’s our step-by-step guide to depositing at online gambling sites using Bitcoin.
How To Use Ethereum To Bet On Sports Online
Depositing with Ethereum is basically identical to depositing with Bitcoin or Litecoin.
If you’re familiar with using BTC at gambling sites, gambling with Ethereum will be a walk in the park.
Many wallets and exchanges can accept Ethereum, Litecoin, and Bitcoin so users will send coins to Ethereum addresses.
Find A Sportsbook That Accepts ETHFinding a sportsbook that accepts Ethereum is now increasingly easy. We recommended three great options above. Once you find a top-rated sportsbook, make an account by entering your email and creating a password.
Receive Transfer RequestIf you have used Bitcoin before, the process is similar. You will receive an ETH address from the sportsbook after you choose your deposit amount in USD. The sportsbook will also give you the amount to send in Ethereum, which is the conversion of your USD deposit amount.
Send ETH Amount To SportsbookUsing a cryptocurrency exchange or wallet, send the specified amount of ETH to your Ethereum sportsbook.
Transfer Can Be Instant Or Take A Few HoursEthereum transfers can take just a few seconds or a matter of minutes or may take a few hours. In some instances, possibly days. It all depends on how congested the ETH blockchain is when you send a transaction.
ETH Credited To Your Account And Converted To USDOnce the ETH reaches the sportsbook’s address, funds will be credited to your account. They won’t appear as Ethereum in your account, but will instead be converted to the equivalent amount in USD.
Looking for information on other cryptocurrencies? Check out the crypto hub page for more details.