Before we get to the top Ethereum casino sites, let’s quickly cover why you’d choose to play on Ethereum casinos in the first place.
One of the biggest criticisms of many online casinos is that they don’t accept players from certain countries. Ethereum casinos, on the other hand, can be accessed by anyone and from anywhere - if they can connect to and have an Ethereum wallet.
When you use a credit or debit card, it is tied to a credit card company or bank in a particular country and an online casino can restrict your access based on that. Ethereum, in contrast, is a decentralised blockchain technology distributed across the globe, so transactions aren’t linked to any country – just a wallet address.
Another drawback of playing on online casinos is how long it can take for many players to withdraw their winnings from their casino accounts back into their bank accounts. A lot of this is due to the delay that comes with having to use fiat currency payment processors. With Ethereum, transactions are much quicker – so your funds will be back in your crypto wallet within a matter of minutes or hours, instead of days.
As well as being faster, Ethereum transactions are also cheaper. When you use a regular, or fiat, currency, such as US dollars, Euros, or British Pounds, you’re subject to the payment processors transaction fees – which can be pretty high. Ethereum transactions are processed on its blockchain network which makes them far lower.
That’s excellent news for you as you’ll get to keep more of your hard-won funds when both making deposits and withdrawals.
In a word yes – but only if you’re not aware of them. So, to help you avoid the potential pitfalls of gambling with Ethereum, here are a few things to keep in mind.
Transactions made in Ethereum, as with any cryptocurrency, are irreversible. This means that if something goes wrong or you pay the wrong person, you can’t recall the funds like you can with fiat payment methods. Because the Ethereum blockchain is decentralised, no single person or company authorises payments. So, aside from emailing your crypto wallet supplier for a little help, or looking for advice on crypto forums, there’s little you can do if your crypto is lost or stolen.
Fortunately, this drawback can be significantly minimised by knowing how to properly carry out Ethereum transactions and protect the funds in your wallet – and we’ll advise you on how to do both in this guide.
Ethereum, like all cryptocurrencies, is a volatile commodity – meaning that its price can go up or down very quickly. Now, for those that trade in crypto, this is all part of their appeal but this can come as quite a shock for some new players who are simply looking for a simple way to play on their favourite Ethereum casino sites.
To avoid getting stung, if you’re looking to convert your Ethereum back into a fiat currency, compare it to the price you bought it at to make sure it’s comparable. If the price has decreased, it could be worth waiting until the price goes back up again. However, it's also likely that the price of Ethereum has shot up – and you’ll get back more fiat currency than you originally paid! Of course, this is this preferred outcome – but be aware that it can go both ways.
Wait a second: didn’t you just say that lower transaction fees are a benefit of Ethereum? Indeed, we did – and this is true most of the time. However, because Ethereum is an especially popular blockchain sometimes it can get busy. When this happens, because the demand for processing transactions is high, the fees for processing tractions, known as gas fees, increase too. That way, those people who are willing to pay more to have their transactions processed ASAP will pay the higher gas fees – an express fee, in other words.
If you see that gas fees are way above normal, but you can wait to play your favourite Ethereum casino games, then come back an hour or two later and try your transaction again. Now, while this is a little annoying, transactions will still cost you less than with a fiat currency.
Here’s how to get started on Ethereum casinos in three, simple steps.
Ok, first, a quick word about the difference between Ethereum and Ether. Ether (ETH) is actually the name of the cryptocurrency you’ll be depositing and winning, while Ethereum is the name of the blockchain network on which Ether transactions take place. Or, to put it another way, you’ll be sending Ether from your wallet to your casino account – and the Ethereum network will carry out the transaction. Just a small point to avoid any potential confusion when purchasing your crypto funds – now, back to how to buy some Ether.
One of our jobs as a crypto casino review site (link to the front page) is not only protecting your crypto funds from unreliable online casinos – but from anyone trying to take your crypto! With that in mind, here are three ways to make keep your Ethereum safe, secure – and in your wallet.
One of the main factors for playing on an Ethereum casino is the generous bonuses many of them offer. Here are some examples of the most common Ethereum casino bonuses you’re likely to come across.
Deposit bonuses are a pretty common type of Ethereum casino bonus offered and are awarded when you deposit Ether into your player account. Also, some Ethereum casinos offer bonuses for when you make your 2nd, 3rd, and maybe even 4th deposit. If so, their deposit bonus could refer to the total casino bonus– which is the combined total of all deposit bonuses. Be sure to check the casino’s terms and conditions to be absolutely sure how you’ll receive your bonus
Deposit bonuses can be expressed as flat amounts, such as 3 ETH, or a percentage of your deposit. “125% up to 5 ETH”.
A cashback bonus sees an Ethereum casino return a small percentage of the funds you’ve spent on their games. The percentage of cashback bonus varies on the casino and there’s usually a limit on the amount you can receive. Also, even though it’s called a “cashback bonus”, you’ll receive it in Ether.
Free spins are another common Ethereum casino bonus that allows you to play slot games without spending your own funds. Free spins as a part of a ‘Welcome Bonus’ package - with a deposit bonus or cashback bonus.
Rakeback bonuses are related to online poker and refer to the entry fee, or rake, that you pay to join a poker room. A Rakeback bonus is when you receive a percentage of that rake back from the Ethereum casino site. A typical Rakeback promotion will award you a percentage of rake fees over a week or month. For example, if the casino’s poker room has a weekly 50% Rakeback promotion and you regularly spend 2 ETH over a week, you’d receive 1 ETH into your player account each week.
Some Ethereum casinos offer Lifetime Rakeback, where you receive a certain percentage of your fees back as long as you’re playing. So, if you’re a big fan of online poker, be sure to look out for this special Ethereum casino bonus!
So, you get the idea of gambling on online casinos with cryptocurrencies, but why choose Ethereum over another cryptocurrency, like Bitcoin or Dogecoin? Here are some of the advantages of gambling with Ether.
After Bitcoin, Ethereum is the second biggest blockchain network (by market capitalisation). However, Ethereum allows people to do more on their blockchain than Bitcoin does. For example, you can execute code on Ethereum thanks to a concept called smart contracts – which then opened up the door for apps (known as dApps or decentralised apps) to be developed on Ethereum. This was an absolute gamechanger and changed the crypto industry forever.
So, all this is to say that Ether is a very important cryptocurrency and will be around for a long time, which makes holding some in your crypto wallet and gambling with it on Ethereum casino sites a safer bet than most other cryptocurrencies.
Related to the above benefit, because of the power of Ethereum’s blockchain, you can do more with it than any other cryptocurrency – including Bitcoin. For example, the majority of NFTs are found on the Ethereum network and purchased in Ether. Plus, the most popular crypto games are on the Ethereum network, including Axie Infinity and CryptoKitties.
Like Ethereum casinos, Crypto gaming is set to explode in the next few years, including Play 2 Earn (P2E) games, and if this field interests you, having some Ether in your wallet will allow you to get involved.
Earlier, we covered how to deposit Ether into your player account; here’s how to withdraw your winnings back into your Ethereum wallet.
You’ll find most, if not all, of your favourite games on Ethereum casinos. Plus, as more crypto casinos enter the market, players will be treated to a larger variety of Ethereum casino games (as well as better bonuses).
Games on Ethereum casino sites generally fall into three main categories: slot games, random number games, and table games.
On a separate note, some casinos offer options for Ethereum betting, where you can bet on your favourite sports and e-sports.