While Bitcoin is the cryptocurrency that started the whole craze for crypto, Ethereum is probably the second most popular cryptocurrency, which would make you think that a lot of only casinos would accept it as a deposit. Unfortunately, finding a site that accepts Ethereum as their option for crypto gambling is not as popular as you might think, but some great sites still accept it.
How can you participate in Ethereum betting?
Like with any other crypto, first, you will have to get your hands on some of the cryptocurrencies. You can do this by exchanging fiat currency like USD or Euro on a crypto exchange website. In some cases, the casino you want to gamble at will have a crypto exchange of their own, but in such scenarios, the crypto might be slightly over the price for the sake of convenience.
Once you manage to get some crypto on a crypto exchange (if you are not using one that is provided by the casino), you will have to move it to a crypto wallet, from where you can use it wherever you want. Keep in mind that certain crypto wallets are not a viable option on some gambling sites. We suggest using a crypto wallet that is secure, and that requires some kind of authentication to access; hard wallets are the best.
After you get some Ethereum on your wallet, you can then register on the crypto casino where you want to gamble, and as you are making a deposit, choose to do it with the desired cryptocurrency. Once the deposit is made, you may begin your journey with Ethereum betting. Of course, the question still stands, which are the best crypto betting sites for Ethereum?
Best Ethereum betting sites
One of the best places for betting with crypto, especially Ethereum betting, has to be Bitcasino.io. It is a crypto casino that offers all kinds of games, and no matter what you are looking to gamble in, you will probably find what you are looking for. There are numerous virtual and live versions of games.
The most popular option on this site tends to be slots, as there are over 3200 variants you can play, which is quite an incredible number. Other games are not as high in number. Still, considering that most other games are in the live crypto betting where you will be seeing a dealer handling the cards or whatever you are gambling with, it is understandable that the options are smaller.
One thing that we like with Bitcasino.io is that you can try out most virtual games by using “demo currency,” which is imaginary money. This way, you can see how the game plays out if you have never played it before, and you can also see if your luck is serving you for the day before you start your daily Ethereum betting session.
If the name Sportsbet.io does not sound very casino-ish to you, we don’t blame you because this used to be a site exclusively intended for sports betting. While you can still bet on various regular sports like soccer, basketball, tennis, and many others, you can also bet on esports such as Dota 2, CS: GO, and LoL. Naturally, since we are mentioning the site, you can also participate in Ethereum betting in the casino section of the site.
The casino section of the site is labeled “Live Casino” in the navigation menu on the site for a reason, as all games have a live dealer. You can gamble in roulette, blackjack, baccarat, and many more. Sometimes the dealer might be using your native language as well.
There are also some obscure live gambling games, where the one we just cannot avoid mentioning has to be Monopoly. Of course, there are various games that are not live, and these are mainly games that are not possible in such formats, like slots.
Just like the previous mention, this site used to be mainly for sports and esports betting only. But since it is one of the crypto betting markets out there, it is no surprise that they eventually introduced a casino. The crypto betting casino section of the site, even if introduced later in the site’s existence, is nothing to overlook, as it offers various casino games.
You can find various popular games such as Money Train 2, Book of Clovers, Jurassic Park: Gold, Sisters of Oz WOWPOP from virtual games, and from live games, you can play blackjack roulette, crazy time, cash or crash, and many others.
Besides gambling with Ethereum, Cloudbet also accepts various other cryptocurrencies, so if you wish to spend some of that excess crypto that you might be having around and have nothing to do with, Cloudbet (and the previous two mentions as well) are a good place to gamble with it.
History of Ethereum
Vitalik Buterin was the original founder of Ethereum for which he wrote the whitepaper in November 2013. In 2014, other founders such as Gavin Wood, Charles Hoskinson, Amir Chetrit, and Anthony Di Iorio joined him.
Ethereum builds on the features of Bitcoin but has some slight differences. It is a blockchain that offers various functionalities for programmers wanting to build solutions on the Ethereum platform. The blockchain is run through a native coin known as Eth (Ether). The coin facilitates payment for activities performed on the platform. You can also trade on various exchanges using the coin.
How Does Ethereum Work?
Ethereum is a decentralized platform that isn’t controlled by any third parties. Its performance is based on nodes stored on different computers globally. The blockchain acts as a public ledger where transactions are recorded and authenticated.
Simply put, the platform works such that everyone using it can see a copy of the ledger and which enables them to see all past transactions. The distributed ledger copy holders actually manage the blockchain.
Use Cases of Ethereum
Here are the different ways you can use Ethereum to power your day-to-day activities:
- Smart Contracts: Smart contracts don’t require any permission to run. You only need to meet the required conditions and the contract will execute automatically.
- As a Currency: You can send or receive Ether as a payment for goods or services on platforms such as crypto betting sites that approve it as a mode of payment.
- Non Fungible Tokens: It’s also possible to represent various items as Ethereum tokens that can be traded or exchanged in the marketplace. NFTs are unique and cannot have two owners at the same time.
- Decentralized Autonomous Organizations (DAOs): DAOs belong to and are operated by the members based on smart contracts. The in-built treasuries within the DAOs are inaccessible unless with the permission of the members. Before the implementation of any decision, the members of a DAO have to vote. The votes get tallied automatically thus ensuring democracy in all activities.
- Decentralized Finance (DEFI): DEFI refers to all the financial products and services available to Ethereum users. The decentralized finance system works such that all users can inspect codes and transfer funds without any restrictions. Defi users can also borrow money, take insurance, and trade tokens because the market is always open.