Ethereum (ETH) Sports Gambling
Ethereum (ETH) is a cryptocurrency, which is similar to Bitcoin and other cryptos, such as Litecoin, Dash, and Bitcoin Cash. It uses open-source, public, blockchain-based technology, but is considered superior to Bitcoin and many other cryptos due to its smart contract functionality. Ethereum was initially proposed in late 2013 by Vitalik Buterin, a cryptocurrency programmer. The coin went live in July 2015.
After the DAO project collapsed in 2016, Ethereum was split into two blockchains. The newly separated version became Ethereum (ETH) and the original blockchain, Ethereum Classic (ETC). ETC is not nearly utilized as much as ETH, particularly in the cause in online sports betting or online gambling sites.
Best Ethereum Betting Sites 2018
Do Gambling Sites Accept Ethereum?
Not as widely as other cryptocurrencies or traditional methods using fiat-currencies, like the U.S. Dollar, but Ethereum sports betting is becoming more and more popular. If you’ve been away from online sports betting for a few years, it may be a shock to see every operator adopting cryptocurrencies, but that is the current market. Cryptocurrencies are much better options for both the players and operators. ETH gambling and crypto gambling may become the norm as cryptocurrencies become more and more popular.
Best Ethereum Gambling Sites
Ethereum betting isn’t yet a staple at offshore betting sites like Bitcoin is, but it is slowly gaining more acceptance. Bitcoin is the most widely accepted coin at online sportsbooks, in what has become a cryptocurrency revolutionary for online gambling. 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 sports betting online may overtake over cryptos. There are already a few top sportsbooks that specialize in Ethereum betting.
Recommended Online Ethereum Sportsbooks
- Accepts Ethereum and Dash
- Accepts Litecoin and Bitcoin
- Excellent and timely payouts
- Competitive odds and excellent sportsbook for betting NFL Super Bowl 2018
- Football-specific bonuses offered at the start of each season.
- Large assortment of sports betting markets, including live betting, team and player props.
Why Is Sportsbook.ag The Best?
The 50% up to $1000 Welcome Bonus is hard to pass by and the payout times are fast. Sportsbetting is the top betting site in the industry and easily the most professional. They offer competitive odds in all sports and tons of NFL markets, from propositions to live betting.
- Accepts Ethereum and Dash
- Accepts Litecoin and Bitcoin
- Timely payouts guarantees
- Posts NFL Super Bowl 2018 odds earlier than other sportsbooks.
- Takes up to $25,000 on NFL point spreads plus other popular sports bets.
- Large deposit bonus, up to $2,500, and endless reloads.
Why Bet At BetOnline?
New players receiving a massive Welcome Bonus of 50% up to $1000 on their first deposit which makes BetOnline’s rise to one of the top sportsbooks online. They have a long history in the industry but have truly come on in the past few years to be a leader in sports betting.
Alternative To Ethereum Gambling – Litecoin Sports Gambling
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 both Ethereum, Litecoin, and Bitcoin so users will send coins to Ethereum addresses.
- Step 1 – Finding a sportsbook that accepts Ethereum and is reputable can be tough, but we recommended two great options above. Once you find a top-rated sportsbook, make an account by entering your email and creating a password.
- Step 2 – If you have used Bitcoin before, the process is similar. If not, 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.
- Step 3 – Using a cryptocurrency exchange or wallet, send the specified amount of ETH to your Ethereum sportsbook.
- Step 4 – Ethereum 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.
- Step 5 – Once 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.
Ethereum Sports Betting – Pros & Cons
ETH gambling is much faster than using your other payout methods, such as a check or bank wire to receive payouts. Checks are still available but take a week or two to process and come with extra fees. 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, debit cards or bank accounts. Ethereum gambling doesn’t shield yourself from all personal information or 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.