At the same time, cryptocurrencies and blockchains have emerged as one of the most disruptive and functional developments of recent times. It has the potential to transform a large variety of fields and industries – including the sports betting industry. Ethereum betting is an excellent example of this, as it makes it easy for players to bet on their favourite sports – no matter where they live.
This guide explores the top Ethereum betting sites.
Ethereum betting, or crypto gambling, is when a player places bets on a sports betting site with Ethereum, as opposed to a regular, or “fiat”, currency, like dollars, pounds, or Euros.
Ethereum is the 2nd biggest cryptocurrency, after Bitcoin. However, Ethereum is far more functional than Bitcoin, including running applications through a feature called Smart Contracts. Also, an important distinction to understand is that Ethereum is the name of the blockchain network, while Ether is actually the name of the currency.
So, you’ll be placing bets in and winning Ether, then transferring it back to your crypto wallet (more on those a little later in this guide) via Ethereum.
Also, while Bitcoin and Ethereum are the two coins most frequently accepted by sports betting sites, some also accept other cryptocurrencies like Litecoin, Dogecoin, Bitcoin Cash, and Ripple.
Any sport you could bet on with a fiat currency, you can also bet on with Ether. This includes:
Take a look through our list of top Ethereum betting sites below and sign up for the one allows you to bet on your prefered sport and that offer the best odds.
Choose a betting site from the list of our site and click on the link.
Next, sign up for a betting account on your site of choice. This step isn’t too much different from signing up for an account on any other site and will take a few minutes at most.
Ok, so now you’re all signed up, you’lll need some Ether to get started.
Ethereum betting sites can offer better betting odds than regular sports websites – but it varies depending on the site.
Because many crypto betting sites have acquired their licenses from gaming boards like Curacao or Malta, where the process is both faster and more cost-effective, they’re in a position to offer better odds to attract players. However, you may find that a crypto betting site doesn’t offer noticeably lower odds but instead offers superior welcome bonuses to encourage players to sign up.
Yes, if a sports betting site offers bonuses, you’ll still receive it if you deposit Ethereum into your account. Better still, because a player depositing crypto into their account will cost a sports betting site less than a fiat currency, some online sports books offer special bonuses to encourage players that deposit Ether.
Let’s look at the different kinds of bonuses you’ll find on Ethereum betting sites.
Sign up Bonus
A sign up, or welcome, bonus is the set of perks you receive for signing up with the Ethereum betting site. They’re usually offered as a deposit bonus that you get when you first transfer Ether into your account. A welcome bonus is usually a certain percentage of your first deposit, such as 100% up to 5 ETH, or, in some cases, over 100% of your deposit.
Some sites also offer bonuses for existing players that continue to place bets. An example of this is a reload bonus, which is awarded to players when they make additional deposits.
Some sites could give you a cashback, or rebate, of a percentage of the crypto you spent during your first week or month. This is often used as a loyalty perk for VIP players. Also – please note that while it’s called a ‘cashback’ bonus, you’ll receive your rebate in Ether: ‘cryptoback’ doesn’t quite have the same ring to it!
This is when the site gives you a free bet for a certain amount, and sometimes for a particular sport within a certain timeframe.
VIP Programs
Some Ethereum betting sites offer VIP programs that offer exclusive, ongoing perks in addition to your welcome bonus. Most of these VIP programs work via a point system, where you collect points according to your activity on the site and then become eligible for different rewards when you have a certain amount.
The main factor that determines if you’ll require a virtual private network (VPN) to access a crypto betting site is the kind of betting license they’ve aquired. For instance, if you decide to visit Australia, the UK, the US, or Canada, you might find that your preferred online sportsbook doesn’t work for you like it does in your home country, and you’ll need to use a VPN. This is because these countries have strict laws surrounding online gambling, and sports betting sites have to comply if they want to cater to players that live there.
A good way of finding out if you’ll need a VPN to log into an Ethereum betting site is checking their terms and conditions, to see if they cater to players from your country. If your country is listed, it should work just fine without a VPN.
On the other hand, if you happen to take a much-needed vacation to London, Melbourne, Toronto, or Miami and can’t log into your favourite Ethereum betting site, here’s what to do:
If you’re wondering whether it’s worth the effort of getting yourself a crypto wallet and gambling with Ethereum on sports betting sites, here are the pros and cons of using Ethereum to make deposits.
Sign in from Anywhere: Ether transactions are handled by Ethereum’s decentralised blockchain network – so you can log onto your favourite sports betting site from anywhere as long as you’ve got your crypto wallet to hand.
Stay Anonymous: Banks and credit card companies often don’t look favourably upon those customers that visit sports betting sites, which can potentially cause problems if you apply for a mortgage or a line of credit down the line.
With Ethereum, your privacy is respected, and your transactions are recorded on the blockchain instead of the databases of financial institutions.
Lower Transaction Costs: On the same token, you’re required to pay Ethereum’s transaction fees, for making a payment on the blockchain, which are much lower than credit card fees.
Higher Limits: Ethereum betting sites can offer higher deposit and withdrawal limits for players depositing Ether. Better still, they also tend to lower the deposit minimums for Ether, so you can start betting with less.
Withdraw Your Winnings Faster: Some sports betting sites take anywhere from hours to days before your funds are transferred back into your account. Ether transactions usually take hours.
Higher Transaction Fees at Peak Times
Notice how we said Ether transactions usually take hours? This is because Ethereum’s blockchain has a lot of clever uses, including running Play to Earn (P2E) games, so it's very popular and can get busy on occasion. At such times, demand for processing transactions is high, so transaction fees known as gas fees, increase too. Worse, transactions are slower too, so you have to wait longer for your winnings to hit your wallet.
Price Volatility: Ethereumis volatile, so its price can increase or decrease pretty rapidly. So if the crypto community feels bearish and people start to sell their Ether, the price will go down and you’ll receive back less of your original fiat funds. However, the reverse could happen and Ethereum could go “to the Moon!”, as crypto traders like to say, and you’ll receive back more of your local currency.