Ethereum Casinos

Owing to the steadily growing popularity of the Ethereum Blockchain, the industry of Ethereum gambling has shown a speedy and remarkable growth over the years. The primary reason behind Ethereum’s rapid rise to fame and success is its use of ‘smart contacts.’

The Blockchain system enables these smart contracts and creates the Ethereum Virtual Machine (EVM).

Since establishing smart contacts, we have noticed massive discrepancies in the online gambling market. This new technology has completely obliterated the need to develop some semblance of trust between the players and the online casino.

Top Ethereum Casino Sites for 2024

Full List of Bitcoin Casinos

Brief Information on Ethereum Gambling

Ethereum has steadily become the most popular alternative payment method for players who do not wish to use Bitcoin for any reason.

Although both digital monetary assets provide nearly identical benefits regarding security and anonymity, ETH sets itself apart by allowing users to make a deposit or withdrawal in a comparatively shorter time frame than Bitcoin. If you’re searching for a faster version of Bitcoin, Ether would be your perfect digital currency!

The Smart Contract Technology (further elaborated below) and the benefits associated with using it as a form of cryptocurrency work together to create the ideal funding and withdrawal alternative for many players and online casinos.

Ethereum is a digital form of currency that is exceedingly similar to Bitcoin. It allows quick and anonymous payments and is available to all users worldwide.

Due to this reason alone, Ethereum has become the virtual currency of choice for most gamblers. Many online casinos have now accepted Ethereum for deposits and withdrawals.

We have conducted thorough research to compile a comprehensive list of all the best online casinos active in today’s online gambling industry that accept Ethereum as a viable payment method. Please read the following list. Make deposits and grab an exciting bonus at the best Ethereum-accepting gambling websites given below!

Smart Contract Betting with ETH

Gambling with Ethereum presents itself in two very different forms. The first (and currently the most frequently used) style is the ability to use Ethereum as a deposit and a withdrawal method at various online casino sites.

The processing of this cryptocurrency is the same as Bitcoin. It provides an easy-to-use, alternative payment method to traditional forms of currency (such as USD, EUR, GBP, etc.) transactions.

It is easy to understand why Ethereum gambling is so popular among today’s players and how simple it is to follow. Our expertly curated list of the best online casinos that permit the use of Ethereum (given above) supports this gambling method with cryptocurrency.

The second (and less frequently used) approach to Ethereum gambling is using quick contact by gamblers to place their bets. There is a growing list of online casinos whose entire system depends on the Ethereum Blockchain.

Instead of going about the ordeal of sending Ethereum to the casino’s wallet address of your preference, you can transfer the Ether directly to a smart contract.

Advantages of Smart Contract Gambling

From this point onwards, the Smart Contract generates randomly and pays out based on the player’s performance (i.e., whether the player won or lost). There are many advantages of smart contract betting in Ethereum, which have been elaborated below:

1. The casino completely eradicates any potential risk because it does not hold the players’ funds during gameplay. 
2. Payments are made via an open-source code; therefore, they are free from any intervention.
3. Payouts are always made instantaneously. Irrelevant of how grand your winnings might be, you are guaranteed to receive your full payment within an appropriate amount of time.

The only major downfall to gambling with an Ethereum smart contract casino today is that each bet takes some time to process. For technical reasons regarding the security of the Blockchain, each block will require a minimum of one block confirmation (this process takes about 15 seconds) before the winning bet can be confirmed.

The wager can be fully processed after several block confirmations for bets of more significant amounts. This process might take a little bit of time. Employing this strategy would turn away many regular gamblers who have happily placed their faith in traditional casinos in return for faster betting on online gambling with Ethereum.

What About the Delay in Block Confirmations?

Nevertheless, the massive problem of waiting for block confirmations is gradually resolved. Casino protocols such as FunFair.io are currently developing ‘off-chain‘ payment channels to process bets without requiring a block confirmation for each bet.

These payment channels relieve considerable strain on the Blockchain without compromising security measures. As a result, the possibility of smart contract betting reaching the mainstream audience seems exceptionally likely in the years to come.

In November 2018, FunFair made an exciting announcement. They decided against launching their first casino brand, CasinoFair.com, using their Ethereum state channel technology. 

However, many smart contract casinos mentioned above will require at least one block confirmation. Thanks to the Ethereum Virtual Machine (EVM), this is still the most secure way to bet at a crypto casino.

FAQ:

What are the main differences between Bitcoin and Ethereum?

Regarding online casinos, Bitcoin and Ethereum have proven to provide nearly identical benefits. Not only are they extremely fast and completely secure, but they also offer complete anonymity, which makes them the ideal payment method for making deposits and withdrawals for any gambler.

For those struggling to decide which cryptocurrency to use for their deposits and withdrawals, there’s no significant advantage to one. That said, one must keep a few minute differences in mind before making a concrete decision. 

•  Bitcoin is comparatively more mature and stable than Ethereum:

All forms of cryptocurrencies have some volatility associated with them. Still, amid all these, Bitcoin is the only digital currency that is (comparatively) relatively stable. Since the value of Bitcoin is more likely to remain consistent during bets, it has been regarded as the relatively superior digital currency to use during gambling.

A few select casinos have provided users with the option of converting their Ethereum and Bitcoin deposits into ‘chips’ when making a deposit and converting them back into either form of these cryptocurrencies upon withdrawal. This might be a tad bit misleading since the value of each chip could go through a drastic change during your time gambling. 

• Ether is a relatively faster casino banking method:

No scaling issues have yet been noted in Ethereum as they have been in Bitcoin (which has inevitably led to an indefinite pause of Bitcoin). What does this entail? Not only is the processing time for transactions significantly reduced (often taking less than a minute to complete themselves), but the same cannot be said for Bitcoin, in which deposits and withdrawals can take up to hours to arrive.

• Ethereum enables Smart Contract betting:

As mentioned, Ethereum has allowed its players to interact through Smart Contracts. Thinking solely from a gambler is a massive advantage since it completely removes the requirement of trustworthy interactions between the players and the online casino.

Bitcoin is also expected to use smart contracts via Rootstock, an off-chain protocol routinely. Unfortunately, we have no reports yet regarding when online casinos will be ready to mass-produce this service on their platforms.

Although many other technical difficulties exist between Ethereum and Bitcoin, as far as online gambling is concerned, the differences mentioned above are the only ones that truly matter.

Is Ethereum gambling safe?

 Ethereum’s blockchain security secret is protected by a vast amount of ‘hash power.’ What exactly is hash power? It’s a term coined to describe the amount of energy miners use to validate and process their transactions.

The higher the amount (more distributed) of hash power placed on a blockchain, the more difficult it becomes for an individual, company, institution, or government body to overpower the network and rewrite any transcriptions.

Currently, Bitcoin is the most secure form of Blockchain available on the market, with enormous hash power. However, Ethereum does not seem to be catching any dust. The security of both Bitcoin and Ethereum is excellent.

Of course, there is one sole risk that one must consider when deciding to use Ethereum to deposit at their preferred casino. It is the same risk that all players should consider when dealing with American dollars or any other currency: Is the online casino worthy of their trust?

Our detailed reviews on our page regarding Ethereum casinos will help you decide!

How do I deposit with Ether?

Depositing at an online casino using Ether is almost the same as depositing with Bitcoin. Players can purchase Ether from a reputable online exchange service such as Coinbase.com and then make a transaction from their Coinbase wallet to the Ethereum wallet of their preferred online casino. There are some crucial things you must keep in mind when you make a casino deposit using Ethereum:

•  An Ether wallet address has zero similarities to a Bitcoin wallet address.
• Please ensure you do not send an Ethereum transaction to your Bitcoin wallet. The operation will fail to process, and you will risk permanently losing your money. A simple method to check whether your wallet is an Ethereum is to check if the first two characters of the address begin with an ‘0x’.
• Please grant a short period for the deposit to become visible. 
• Most of these online casinos display the players’ deposits after the transactions are broadcast. Contrarily, some of these casinos require multiple confirmations (up to 30 requests) before they decide to credit your account. Each approval takes an average of 15 seconds, so check the terms and conditions of your preferred online casino before worrying that your Ethereum deposit has failed to arrive in your wallet!
• Make sure you’ve sent the Ether to the correct address.
• As is the case with any cryptocurrency transaction, there is no such thing as a “chargeback” function. If your Ether was somehow sent to the wrong wallet address, then there is a high possibility that it could potentially be lost forever. Therefore, please remember to check and then quickly recheck the wallet in which you are making a transaction before you make a casino deposit.