Launched in 2015, Ethereum is one of the world’s largest cryptocurrency, second only to Bitcoin. Today, betting with ETH is also becoming increasingly popular. In this guide, I will introduce you to the best betting sites and why explain why this is a secure way to play.
- The Best Betting Sites That Accept Ethereum — Pros & Cons
- How To Bet With Ethereum
- Betting on Sports With Ethereum
- Advantages of Betting With Ethereum
- How To Choose the Best Ethereum Betting Sites
- Disadvantages of Betting With Ethereum
- Why Are Ethereum Bookmakers Gaining Popularity?
- Alternative Crypto Payment Options
- Ethereum Betting FAQs
- ThePuntersPage Final Say
Best Ethereum betting sites we recommend
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The Best Betting Sites That Accept Ethereum — Pros & Cons
I have listed ETH betting sites based on what I believe are the most important factors for you, including player safety and security, game selection, banking options, customer support. and all round player experience. So, from one bettor to another, here they are:
Jackbit Review
Jackbit is a crypto-dedicated sportsbook offering a wide range of sports to wager on. This betting site carries an operating licence from Curaçao, so you can rest assured it is legit. The maximum withdrawal with this site is $7,500 per week and $15,000 per month, and they accept many cryptocurrencies.
Pros:
- More than 40 sports to bet on
- High winning limits
- Accepts 14 crypto + fiat currencies
Cons:
- No Bet Builder
- No Request a Bet
- No mobile app
Cloudbet Review
CloudBet has excellent sports coverage and accepts deposits from numerous cryptocurrencies. It holds a licence from Curaçao and can be considered a pioneer in the crypto betting scene, so you can trust this ETH betting site.
It is also one the fastest online bookmakers when it comes to payouts. Moreover, there is no maximum amount players can deposit or withdraw here.
Pros:
- Mobile-friendly
- Fast withdrawals
- Numerous games
Cons:
- No mobile app
- Not available in all regions
- Non cryptocurrencies are not accepted
BC Game Review
Founded in 2017, Curaçao-licensed BC Game require players to follow a two-step authentication process when signing up for an account in order to ensure player safety.
They support virtually any cryptocurrency and offer a wide range of sports to bet on. Interestingly, BC Game do not set maximum withdrawal limits or a maximum deposit limit.
Pros:
- You can play with ETH or virtually any other cryptocurrency
- Provide a wide selection of games
- Employ an open source code for provably fair games
Cons:
- Limited withdrawal options
- Cannot free play or use JB free testing coins
- Cannot buy crypto on their site unlike Jackbit
How To Bet With Ethereum
To get started with Ethereum betting you need to follow these steps:
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Firstly, you need to add money to your ETH wallet or exchange account, such as Binance and Coinbase.
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Once your funds are in the crypto wallet, you will be able to send your ETH to the betting site of your choice.
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Simply click on the deposit button, which is usually found in the top-right corner of the site’s homepage.
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Next, enter the amount of funds that you wish to deposit and confirm the transaction.
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Once the miners have successfully confirmed the transaction, the funds will appear in your account. Voila!
How To Deposit With Ethereum
To make a deposit with ETH, you first need to create a wallet. Once you have done this, you can enter the desired amount of ETH in your wallet. From there you can go to your chosen crypto betting site and select ETH from the given deposit options.
Ethereum Wallets
Ethereum wallets are a bit like an internet banking app but without the bank. They are digital applications that let you access your ETH. You need a wallet to send funds and manage your ETH and it will let you check your balance, send transactions, and connect to applications.
Fees
A lot of players also value the fact that deposits can be made instantly due to the speed and efficiency of crypto. This means that you don’t have to wait to receive your winnings or pay high transaction fees.
Security
If you are in the UK, crypto gambling is legal and allowed. The crypto sites we recommend in this article are licensed by Curaçao, so they are not regulated in the UK.
Betting on Sports With Ethereum
While it is true that some Ethereum betting sites might not offer quite as many sports betting options as the traditional bookmakers, all of the more popular sports are available to bet on with ETH. This means that you will be able to bet on most of your favourite sports with only the more obscure games missing.
Advantages of Betting With Ethereum
There are a number of reasons why betting with Ethereum makes sense. It comes with many advantages and I list all my favourite as an avid bettor below:
Rapid Transactions and Higher Limits
Ethereum offers fast payments and often comes with higher limits, allowing you to place high-value bets and have the chance to win more. Transactions are processed quickly and efficiently, which results in prompt deposits. ETH transactions are faster than those made with Bitcoin, making it a great option for online gamblers.
Ethereum Value Can Rise
Famously, crypto fluctuates in value, so your balance can rise or fall quickly at any point in response to market conditions. The reason for this is due to Ethereum market price evolutions.
The good news is that when the price of Ethereum rises, your balance will rise with it, so you will be able to enjoy higher winnings. Of course, while this can be risky, smart bettors are able to capitalise on Ethereum's market volatility and earn potentially larger profits.
The potential for your balance to rise or fall is a unique feature of ETH crypto sites, and this sets them apart from more traditional online sports betting platforms. Also, the ETH network is different from other cryptocurrencies because it allows for the creation of unique non-fungible tokens (NFTs).
Anonymity
One key benefit of Ethereum betting is that it offers complete anonymity. Because this is a decentralised cryptocurrency, all of the transactions are processed through the blockchain which doesn’t require a central authority.
Because of this , you don't need to provide personal information, such as your name and address when depositing with a Ethereum bookmaker. This protects your privacy and also reduces your exposure to identity theft and fraud. Also, because ETH transactions are totally anonymous, any betting activity can’t be linked to your personal identity, giving you an extra layer of privacy and security.
How To Choose the Best Ethereum Betting Sites
- You will want to choose a betting site that holds a reputable licence, boasts top security software and has a trustworthy reputation.
- It is a good idea to make sure that the site you want to bet with is not restricted in your region.
- Look out for a top welcome bonus or other promotions such as a worthwhile VIP scheme.
Disadvantages of Betting With Ethereum
Betting with Ethereum, like many cryptocurrencies, has a few drawbacks, which I list below:
Volatility
As with other crypto, Ethereum is volatile and comes with an element of risk. As the stock market ebbs and flows week in, week out, ETH follows suit with the overall mood of the market. As high as it can reach one day, its value could plummet the next.
Less Accepted Than Bitcoin
When it comes to crypto, Bitcoin (BTC) is the undeniable market leader. This means that ETH isn’t as widely accepted as BTC among online bookmakers. However, this could soon change as Ethereum is becoming increasingly popular for betting on sports.
Unregulated Industry
Because Ethereum is mostly unregulated, players can be left open to fraud. However, any reputable Ethereum bookmaker will have obtained licenses from the necessary regulatory bodies in order to ensure fair play, security, and encourage responsible gambling.
Transactions are Irreversible
Any and all transactions cannot be reversed or cancelled once they have been processed on the Ethereum blockchain. While this is a feature that actually keeps you safe online, it can also be a potential risk. Should you happen to accidentally send funds to the wrong address, you can’t get your money back, so always make sure to double check that you have the right address when sending transactions.
Why Are Ethereum Bookmakers Gaining Popularity?
The popularity of cryptocurrency betting has been on the rise now for the best part of a decade. Today, you would have your work cut out trying to find an online betting site that doesn’t accept at least one form of crypto. More than this, there is an ever increasing amount of bookies that accept crypto exclusively.
ETH has proven to be useful for operating platforms as it is a sustainable and safe currency that can be trusted. It also allows operators to create decentralised applications.
Of course, anonymity is also another key benefit of betting with Ethereum.
Alternative Crypto Payment Options
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Bitcoin: The original and most famous cryptocurrency, Bitcoin is the only crypto that is bigger than Ethereum. Because of its mass appeal, BTC is the most commonly used form of cryptocurrency. It is by far and away the crypto coin that you are most likely to come across when you are looking to place crypto bets.
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Litecoin: Litecoin is another popular cryptocurrency when it comes to sports betting. The good news for players is that this means there are many Litecoin betting site options out there. When you place bets with Litecoin bookmakers, you can enjoy the same benefits as you do with other crypto. Once again, you can remain anonymous if that’s what you want to do.
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Tether: Another popular way of crypto betting is by using the stablecoin Tether. While other coins fluctuate in value, the idea behind Tether was that its value is consistently the same as one single US dollar. This reduces the risk involved in betting with crypto currency, which in turn makes it a popular choice for sports betting.
Ethereum Betting FAQs
Following a dip in price in late 2022, crypto is doing well in 2023.
Yes it is legal, and Ethereum enjoys a reputation that is squeaky clean, so you shouldn’t have any problems.
Users don’t need to enter any personal information or provide a proof of identity to an Ethereum betting site.
Ethereum can be purchased through many online brokers of the currency and can also be sold back so that it can be converted it to real money, such as USD.
Yes it is, one of the great advantages of crypto sports betting is that it is very safe and secure.
ThePuntersPage Final Say
Ethereum sports betting is a very safe and useful way to place your bets. Bettors can enjoy the anonymity that the cryptocurrency offers, as well as a more streamlined betting experience thanks to the speed of transactions.
You will likely need to shop around in order to find an online bookmaker that accepts ETH as these can harder to find than with other crypto options. Alternatively, you could always bookmark this article to have all the best Ethereum sites listed in one place!