Ethereum Crypto Betting Sites 2021

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Anonymous Betting Sites that Accepts Ethereum Crypto (ETH)

Since the inception of cryptocurrency technology, the gambling industry has been at the forefront of promoting it. Many bookmakers have since been accepting a number of various cryptocurrencies. This is evident as some bookmakers do not accept other forms of payment except crypto. Consequently, the use of Ethereum in betting sites is increasingly rising. Players can now bet using ETH at various casinos.

Types of Ethereum Sites

There are 4 different types of gambling sites that use Ethereum cryptocurrency. They are;

  • Sports Betting Sites
  • Casino Sites
  • Online Poker Sites
  • Esports Betting Sites

Ethereum Betting Sites

Over the past years, Ethereum cryptocurrency has become popular. Additionally, many online betting sites in the world are now embracing it as a payment method. Similarly, some crypto betting sites that only used Bitcoin are also offering customers the option to use Ethereum. The reason for using Ethereum is to increase privacy, speed in transactions, superior bonuses, and better odds.

Below are betting sites that accept Ethereum crypto;

Stake

Stake uses Ethereum crypto for gambling on casino games and sports. They and has a good user interface. Additionally, they offer a variety of games to punters. Equally important, Stake ranks among the best Ethereum gambling sites as it offers cashback, VIP perks, and bonuses. However, they have no welcome bonus.

Sportsbet

Sportsbet is a betting site that accepts Ethereum among other cryptocurrencies. However, it is limited to players in some countries such as Australia, Estonia, and the USA.

Advantages

  • Interesting promotions.
  • Offers 24/7 support to punters.
  • Excellent reputation.

Disadvantages

  • No welcome bonus.
  • Restricted to players from some countries i.e, Australia.

How to Use Ethereum for Online Betting

Betting with Ethereum is just as easy as betting with physical currency. All that is needed is an Ethereum betting site, an online wallet, and some currency. The Ethereum platform has its own currency known as Ether commonly abbreviated as ETH. ETH can be bought and sold not only as a commodity but also as a currency. Thus, Ether can be bought and used for gambling as shown below;

  1. Open a crypto wallet– Different cryptocurrency wallets are designed to hold different cryptocurrencies. A wallet meant for ETH is the one that should be chosen, and they are; Kraken, Coinbase, Gemini, CoinMama, CEX.io, Bittrex.
  2. Enter the financial details– This involves funding the wallet with regular currency and there is a limit for funding the wallet.
  3. Purchase ETH– purchasingEther involves searching and choosing Ether from the available cryptocurrencies in the wallet.
  4. Find an Ethereum Gambling Site. Since there are many betting sites that use Ethereum, punters have plenty of options to choose from as they look for a place to use Ether.
  5. Connect the cryptocurrency wallet to the Gambling Account-. On the betting site, the player chooses the payment method, with Ether, and he is connected to the Ethereum blockchain. Finally, the player selects and deposits the amount with the site and a few minutes later, the account gets funded.

Advantages and Disadvantages of Using Ethereum for Online Betting

Ethereum cryptocurrency has its own advantages and disadvantages that accompany it during transactions. They are as follows;

Advantages

  1. Speed-Ethereum platforms facilitate relatively faster transactions. This implies that players can receive money faster during the withdrawal process.
  2. Security. Ethereum blockchain uses high levels of encryption. This, therefore, ensures that any information is safe. Even the betting sites have no access to information on payment and other security details.
  3. Bonuses. This is a new trend whereby some online betting sites offer bonuses to players who use Etheras as a method of payment.

Disadvantages

  1. Availability-Finding Ethereum betting site is not as common as Bitcoin betting sites. This is because it is the second most popular crypto to Bitcoin thus many betting sites are introducing it slowly in the industry.
  2. Ethereum is a currency just like any other and every currency falls at some point. This means that the Ethereum cryptocurrency is not exceptional for this case.

Reasons for Betting with Ethereum

Betting with Ethereum has benefits as it is one of the top cryptocurrencies. Well, there are several reasons why it is important to bet with Ethereum. Below are some of them.

  1. Speed of Transaction
  2. The transaction with Ethereum is really fast. This is because deposits made with ETH are available within the hour. What’s more, withdrawal is also fast.
  3. Security and privacy
  4. Privacy is a key factor in gambling and at the moment, Ethereum is one of the best ways to enhance this right.
  5. Taxation
  6. The win that comes as a result of betting with ETH is invisible hence not taxed by the local authorities. This, therefore, makes the player gets more profit.

Conclusion

Ethereum betting sites have been steadily attracting more and more players over the past years. And just like other cryptocurrencies, Ethereum is transforming the way of doing things in the gambling industry. It utilizes the anonymity of the cryptocurrency, faster transaction speed, and privacy. Ethereum has established itself as one of the best new methods of payment for online betting. Additionally, this article has explored the betting sites accepting Ethereum, how to use Ethereum cryptocurrency for betting as well as reasons for using it. You can now make an informed decision and play responsibly.