Ethereum is one of multiple cryptocurrencies to be introduced to the world in the last several years. Its creation started in 2013 and was officially launched in June of 2015. Cryptocurrency is designed to be able to conveniently send and receive money over the Internet anonymously, instantly, and with no taxes or fees charged by a middleman.
ETH Casino Reviews
Ethereum transactions can be made peer-to-peer, are encrypted to guarantee its safety, and are done using units called Ethers. Ethereum is often compared to Bitcoin. Since their goal was to take Bitcoin and take its uses to another level, some like to call Ethereum Bitcoin 2.0.
Since cryptocurrency has caught on as one of the newer and better ways to transact money with online casinos, most of them accept some form of cryptocurrency and Ethereum is in the mix. At the moment, its availability is relatively scarce but it is by no means impossible to find.
Which Online Casinos Accept Ethereum?
It is a bit unclear as to who actually does use Ethereum as a transaction method. A number of sites are listed as Ethereum users but when you go to their site the Ethereum logo or any mention of it for transactions are nowhere to be found. Still there are more than just a few that will take it.
They are mostly lesser known gambling sites that mainly specialize in your typical casino games like roulette, blackjack, craps, and other dice games. Some of which also feature the live casino. The most common wide selections will be for video poker, slots, along with other kooky games.
If you are going to be a volume gambler be on the lookout for who offers promotional bonuses. The bonuses are standard for all the top competing sites but are no guarantee for the smaller ones trying to make a name for themselves. If you are going to be playing a lot of a particular game, you may as well as reap the benefits for crypto gambling on the sites offering them since you’re going to be gambling anyway.
Playing Poker with ETH
If you want to play poker, the only site that currently has a poker room is Betcoing.ag which is easily the biggest name site that takes Ethereum. Until Ethereum becomes a widely used cryptocurrency among the major sites, chances are this will remain the only poker room out there.
Sportsbetting with ETH
Sports betting is also hard to come by but Betcoin.ag has it as well. Betcoin.ag also offers live betting, an option growing in popularity and becoming more and more standard. Live betting is for betting on games already in progress. This serves for those who didn’t get the bet down in time before the game starts or if you think you can find edges based off what’s already happened.
Also note that some of the smaller sites highlight the fact their games are “Provably Fair”. All that means is every game on the site is verified as honest and that the probabilities in every situation play out the way you would expect them to if you were in an actual casino. They do this to minimize the chance someone thinks they might get cheated.
If a site does not ensure you their games are Provably Fair, I wouldn’t assume they must be a dishonest site, but when dealing with the lesser known sites you are certainly better off giving your action to one that you know that has made the effort to show there is no way you can get scammed.
There is no information yet as to when the leading sites like Bovada, 5Dimes, or BetOnline will be using Ethereum. Bitcoin is still far and away the leader for cryptocurrency and online gambling. Sites offer extra appealing incentives to deposit with them. Some small sites depend on Bitcoin as its only deposit/withdrawal option. This is not the case with Ethereum. There is a casino called Bitsler that only uses cryptocurrencies but as anyone who takes Ethereum will take other forms of it as well.
Is it Legal?
There are not that many online casinos that will not take business from the USA. The ones that don’t will usually say your location is blocked you once you try to go to their site. The Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 did not make it illegal for gambling operators outside the U.S. to accept money from them even though when the UIGEA was passed, a lot of gambling sites chose to stop taking business from the U.S., effectively misdirecting people into believing it was illegal. The sites only have to follow the laws in their own jurisdiction, so it is legal.
The main thing to remember is you are gambling at your own risk because when transacting money to offshore sites, you have almost no recourse if a problem arises. Over the years there have been many complaints about various sites coming up with reasons to deny people their promotional bonuses and/or their withdrawal requests. This has always been the number one feared hazard of gambling online and always will be.
I would much sooner educate yourself about each site to minimize your chance of this happening to you than worrying about a smooth transaction with Ethereum itself. Cryptocurrency transactions can either be done instantly or within a couple of days which is comparable or better to other payment options.
Ethereum’s Future in Online Gambling
It doesn’t look like anyone is going to unseat Bitcoin in the near future as the top cryptocurrency at least for casinos, but Ethereum definitely has potential to get itself in that conversation. The fact they are already used by one major gambling site is significant because none of them want to fall behind in convenience. That means if Ethereum were to suddenly blow up in value in a short period of time, more sites will start using it as that’ll become the demand and when that happens it will snowball. All the sites will all start using it because if they don’t they could lose business.
Some people believe cryptocurrency is going to take over the way we spend money. If they’re right then all cryptocurrencies will be offered by gambling sites, but, until that day comes, Bitcoin is going to stay in charge.