Ethereum is a blockchain-based technology that allows transactions with its own cryptocurrency, Ether (Eth). In simpler words, you can use Ether instead of a traditional currency for your deposits and withdrawals. Cryptocurrencies, in general, are getting adopted in a variety of industries worldwide, with a promising future. Ethereum sportsbooks are getting more and more popular in the gambling industry due to their upstanding velocity in transactions, mouth-watering offers and increased privacy.
Interestingly, there are also two kinds of bookies accepting crypto. Hybrid ones, which convert your Ether deposit to a traditional currency, and crypto-exclusive ones. Find below how to acquire and exchange Ethereum, pro-tips regarding this cryptocurrency and of course, the best Ethereum bookmakers.
Best Ethereum Betting Sites for 2022
There is a soaring number of Ethereum sportsbooks popping up left and right, so it is pretty overwhelming to find the one best suited for your gambling activity. Check out the updated list with the best Ethereum-friendly bookies for 2022, based on reliability, payout and range of betting markets. These three factors are of the uttermost importance for all experienced bettors.
Ethereum vs. Traditional Sportbooks
Let's start with the main distinction, the two kinds of bookies in which you can bet with Ethereum. The most common type you will find, hybrid ones, convert your Ether deposit to a traditional FIAT currency (US dollar, Euro, GBP). That means you will have to keep in mind the conversion rate. On the other hand, end-to-end bookies give you the ability to have your account’s currency in Ether, and all the transactions will be processed accordingly. That lets you retain Ether’s flexibility, but your funds will be subject to its valuation. More on that later.
Secondly, the reduced costs of cryptocurrency transactions allow Ethereum betting sites to offer overall better odds, superior welcome bonuses and special recharge offers. Another point many of you will find interesting is that Ethereum-friendly bookies have reduced or even nonexistent KYC requirements, as cryptocurrency transactions are not based on regulated third-party services.
Why should you bet in an Ethereum Sportsbook
Opting for transactions via Ethereum gives you flexibility and opportunities that can not be found in a traditional sportsbook. Apart from the enhanced odds and offers that we have already mentioned, there are a lot more benefits to be found in Ether-friendly bookies. Check the points below thoroughly. They will help you get the much-needed edge all bettors seek.
✔ Speed of transactions in deposits and withdrawals
Topping up or withdrawing funds in an Ethereum betting site can take a few minutes after the transaction is confirmed by you or the bookie’s payment department. Fast and easy, no hassle.
✔ 100% acceptance rate in your deposits
Say goodbye to annoying failed deposits and the following fuss of contacting customer support or your payment provider to sort up the issue. Once you confirm the transfer of funds via Ethereum, blockchain technology works its magic with no margin of error.
✔ Anonymous transactions secure your financial data
Ethereum transactions are ‘’pseudonymous’’. In simple terms, everyone has access to all data in the ethereum network, but not to your true identity. That means that the funds you utilize for your gambling activity in Ethereum sportsbooks will be extremely hard to get traced back to your name.
✔ No third party involved
Transactions via the Ethereum network are peer-to-peer. To make the term easier, imagine handing your funds in person directly to the bookie, without any bank or other payment provider in-between. You are doing business directly with them, circumventing any regulations that financial institutions have to follow.
✔ Guaranteed transaction safety
Without getting into too technical terminology, the technology behind Ethereum makes all transactions crystal clear and accessible to everyone. It is also decentralized, meaning no central authority can block or conceal any data. This way, you can easily prove that a fund transfer did or did not happen.
✔ Higher Withdrawal limits than traditional bookies
As we have already established, cryptocurrencies offer more flexibility in transactions and are not subject to audits. That gives the ability to Ethereum betting sites to stretch the withdrawal limits upward, compared to traditional payment methods. You are free to go after your big win without any additional worries.
✔ Better Welcome Bonuses & Deposit Boosts
Ethereum-friendly bookies like receiving payments in Ether. To make it easier for you, they offer huge bonuses and recharge offers that you will not be able to find in traditional bookmakers. In any case, we recommend checking the T&C’s of all promotions to avoid unpleasant surprises.
✔ Higher Payout
The utilization of cryptocurrencies lowers the overall operational cost for Eth sportsbooks due to reduced payment fees and fewer manpower resources needed. As an additional incentive to use them, you can find better odds in most sports markets compared to conventional betting sites. A truly win-win situation.
✔ Ether’s volatility (+)
Ether’s value is not stable like a currency backed by a central government, like the US dollar or the British pound (FIAT currencies). In the crypto world, a price swing of +/- 10% within 24 hours is just another day at the office. This means that a positive price swing can boost your recent winnings. It can also function as double gambling, making your betting activity more captivating.
Disadvantages of betting on Ethereum Bookmakers
Despite Ethereum’s revolutionary technology and the innovation it brings, transactions made via Ether have their downsides too. Volatility in cryptocurrencies, as well as unfamiliarity with their use, discourages many potential players. You may want to avoid Ethereum gambling and use the traditional methods if the factors below are important to you. Evaluate the risks carefully.
❌ Limited Ether-Friendly bookmakers
Despite the recent number spike of Ethereum-friendly bookies, they are nowhere near the available traditional ones. You will be restricted in your choice of sports events and markets.
❌ Offshore Licencing
Most Ethereum sportsbooks hold offshore licenses, which are less reliable and easily obtained. A bettor using a bookmaker that holds such a license will have a harder time dealing with a possible dispute. Consider this risk for your Ethereum gambling. Apart from the bookies that we approve, proceed to extra research before depositing.
❌ Non-reversible transactions
The lack of a third-party intermediary, apart from benefits, also has the downside that you can not raise any dispute or chargeback after a transaction is completed. If you send funds to the wrong Ethereum address, consider that amount lost, as there is no way to revert it.
❌ Technical complexity
Despite all of its advantages, transactions with Ethereum are not yet as user-friendly as the traditional currency methods. This may make you feel uncomfortable and disrupt your betting activity. We surely do not want that.
❌ Higher risk due to lack of regulations for cryptocurrencies
Ownership and usage of cryptocurrencies are currently in a grey area in most countries. Talks of imposing regulations are in process, and nobody knows how this will evolve. You should always be aware of current developments if you decide to participate in Ethereum betting.
❌ High Fees
At the time of writing, the Ethereum network charges relatively high transaction fees due to the network's congestion. This may change soon as the upgrade Ethereum 2.0 rolls out. Until then, its fees are almost prohibitive for small amounts of deposits & withdrawals.
❌ Ether’s volatility (-)
While generally upward trending, negative price swings are also on the menu. This translates into a possible reduction of your hard-earned winnings, so keep this in mind while using an Ether Sportsbook
Ethereum Sports Betting - Few Things to Know
Having mentioned the key advantages & disadvantages of Ether transactions, let's now find out now more about the cryptocurrency itself. Familiarizing yourself with the concept of Ethereum will maximize the value of your eth gambling. We are also going to recommend new Eth-friendly bookies that bring new deals to the table.
Ethereum’s Technology and Future
Ether is currently the second-largest cryptocurrency by market capitalization (total value of coins in circulation). Ethereum, as a project, was launched officially in July 2015, and since then, it has become the most actively used blockchain. The lead developer, Vitalik Buterin, was inspired by Bitcoin’s innovation but advanced the concept by incorporating programming language into the Ethereum network, allowing decentralized applications to be built on it. That means that Ethereum, compared to bitcoin, can be used in many ways other than digital currency and store of value.
So how are Ethers created? Well, they are the form of payment the ‘’miners’’ receive as compensation for mining the Ethereum network. Mining is the slang used for transaction verification, which allows the system to be decentralized and neutral. Mining needs immense processing power, as the systems used need to undertake complex mathematical algorithms. The future is bright for Ethereum, as it is regarded as the most accomplished blockchain and thousands of applications are based on it. An upgrade with the name Ethereum 2.0 is currently in progress, which promises to take this software on a whole new level.
It would be a mistake not to mention the utility of Ethereum for the gambling industry, other than that of a currency. Casino and skill games developed on its network guarantee fairness, as the calculations behind the results are visible to anyone. Those are called ‘’provably fair’’ games. In addition, decentralized sportsbooks are being developed that allow users to place bets and set up markets without the need of a central operator. As you can see, the combination of Ethereum and gambling will bring interesting new projects ahead.
How to Buy and Deposit ETH in a Sportsbook
Let’s get down to business. You want to join an Ethereum Sportsbook, but you have no Ether. Here is the process to acquire this precious digital currency from start to finish. Though it might seem complicated at first, it is not. After familiarizing with it will be no different than online banking procedures.
Converting your traditional currency to Ether
The most common and easiest way to do this is to set up an account in a crypto exchange service. There are a lot of options, but be very careful as there are many scams around. We recommend Kraken, Coinbase and Binance, as they are some of the older and most reputable exchanges. There are a lot of other great options, but as always, do your research before depositing. After opening an account, you will have different options to convert your FIAT currency to Ether, like wire transfer, debit card and e-wallets.
Wallets for Ether storage
So now you bought yourself some Ether. Congratulations! The next step we recommend is transferring your funds from the exchange to your wallet, as there have been many instances where the exchange froze accounts that directly made transactions with gambling sites. There is a variety of options for your personal wallet. You can find online wallets, desktop & mobile ones, and offline wallets, which store the private keys of your Ether funds safely.
Depositing ETH funds in a sportsbook
As in a traditional bookmaker, click the deposit button, easily found on all betting sites. After you select the Ether method, a complex combination of characters will appear. That’s the bookie’s Ether wallet address. You will have to send the amount you want to deposit to that address from your wallet. It will be pretty straightforward as modern crypto wallets have a user-friendly interface.
Keep in mind that all transactions in Ethereum require a fee. This fee pays the miners that confirm the fund transfer. Sadly the bookie can not cover the cost as it is exclusively a sender's obligation. You will have to calculate if the benefits surpass the cost of the payment fee. As you complete the process successfully, you will see your balance in the Ethereum sportsbook updated in up to 3 minutes. That’s it, you are now ready to get your bonuses and start your Ether-betting!
How to withdraw from an Ethereum Bookmaker
Like all players eventually, after a satisfying win, you will want to proceed to a withdrawal of funds. It may seem harder than a traditional method, but that is not the case.
☝ Deciding on where to withdraw
It indeed is tempting to immediately withdraw the winnings of your Ethereum gambling to your exchange’s account and convert it to FIAT. However, we strongly advise you to send Ether to your own wallet address first to prevent any unwanted audit from the exchange. In general, we suggest keeping your crypto capital in your private wallet and moving it temporarily to an exchange for trading purposes. This makes you autonomous and not dependent on any other particular service.
☝ Completing the withdrawal process
Select the withdrawal option in the bookmaker’s relevant cashier tab. After choosing the Ether method, digit your personal wallet address. That’s just it! After the review of your request, you will receive your hard-earned Ether in your wallet. You have now gained the whole experience of Ethereum sports betting.
☝ Cashing out your funds
To convert your Ether winnings back to a FIAT currency, simply send the amount you wish to the exchange of your choice, and proceed to the conversion. Depending on the exchange, you will now have different methods available to transfer your winnings to a bank account or e-wallet. Remember that nowadays, most exchanges issue their own debit card, eliminating the need for further transfers.
Is Ethereum Betting Safe & Legal
A common topic that gets brought up a lot is the one regarding the safety and legality of Ether-friendly sportsbooks. The fiscal implications of possible winnings are also a major point. We will try to clear the air around these issues.
⏩ Safety of Ethereum Betting
The fact is that transactions within the Ethereum network are infallible, fast, and accessible to anyone to prove them. The safety level lies within the bookie’s reliability. In this guide, we recommend only trusted and fair ones, but be wary as many alternative options can be prone to more shady tactics.
⏩ Legality of Ethereum Gambling
Using Ether to place your bets is the same as any other currency, digital or not. Take into consideration the online gambling regulations of your country before registering in an Eth bookie. You may always use a VPN to circumvent them, but it contains risks.
⏩ Taxation of winnings paid in Ethereum
Here is the juicy part. As established, transactions made with Ether are direct and anonymous. That makes your winnings invisible to fiscal authorities. Be careful, though, as any KYC process requested from an Ethereum betting site or an exchange nullifies the privacy benefit. We do not recommend breaking the law, as the transactions, even with Ethereum, can always get traced back to your name if suspicions start rising around your activity.
New Ether Sportsbooks you need to check out
The growing number of crypto bookies in this new market brings out the heavy competition to attract a potential customer. Fortunately for the players, this means that newcomer brands to the scene offer even better welcome bonuses and loyalty rewards. They stretch applicable fees as low as possible and their geographic restrictions are limited, providing you with a wide range of options. Below you can find the coolest new kids in town, which we highly recommend.
So, Should I join an Ethereum Betting Site
Since Ethereum sportsbooks first appeared in the online gambling scene, more and more players have started to favor them over traditional bookies. The main reason is that local regulations are showing up in most countries at an increasing rate. This creates headaches for players that like having a variety of options available, as well as privacy in their gambling. Ether provides an ideal solution for these issues due to its anonymous nature and transactions that know no borders. Having been long involved in the crypto space and the gambling industry, I can confidently say that their combination is a blessing for both the players and the brands.
My honest opinion is that Ethereum is the ideal ambassador of this fusion for the time being. Βettors who want their gambling activity to stay under the radar should consider converting a part of their bankroll in Ether. Apart from your transactions staying hidden from unwanted third parties, Ethereum betting will also help you gain a significant edge due to this particular crypto’s advantages. That better applies to high rollers, as Ether's current fees are not optimal for small amounts. It is imperative to do your research first, as both cryptocurrencies and crypto-friendly bookies pose a higher risk in comparison to their traditional counterparts. Take advantage of this article’s tips and leads, and you will not be disappointed.
Bitcoin and Ethereum share the same basic principles of blockchain technology, distributed ledgers and cryptography. Their difference is that while Bitcoin was initially developed as a decentralized digital currency, Ethereum advances the concept by storing computer code in its network. That allows the development of secure decentralized applications available to everyone. These applications are fueled by Ethereums token, Ether (ETH).
If you use an End-to-End crypto bookie, then yes, the value of your Ether funds will change according to the current price of the token, which is quite volatile. If you deposit Ether to a bookie that converts it to a FIAT currency, then no, the price gets a fixed value at the moment of the transaction.
Transactions processed in the Ethereum network are safe and anonymous. There is a 0% chance of fraud, failed transactions, or any kind of third-party interference, as the act is peer-to-peer, meaning no central authority controls it. Ethereum is regarded as a reliable payment system.
The combination of the anonymous nature of Eth transactions and the lack of KYC requirements in most Ethereum-friendly bookies guarantees the total privacy of your gambling activity. Speed of transactions with this cryptocurrency is another major plus. Additionally, payout and bonuses are usually better in bookies that accept cryptocurrencies.
The most comfortable place is a crypto-exchange wallet, but we do not recommend it for your Ethereum-gambling. You can easily set up a personal Ether wallet that will safeguard your funds. There are various online and offline wallets, so you have a vast pool of candidates to choose from.
Ethereum is probably the most worked-on crypto project, with thousands of applications and services being based on its network. When writing this article, an upgrade is developed to increase its efficiency and speed, named Ethereum 2.0, which will add even more value and capabilities. We believe that Ethereum and its token EΤΗ, are here to stay in the gambling industry and beyond.
Yes, it is the same as using a traditional currency to bet. You are legally restricted only by the online gambling legislation of your country. Be wary, though and keep yourself informed, as regulations regarding cryptocurrency possession and usage, in general, are in a volatile state worldwide.
Unfortunately, no, Ethereum transactions are non-reversible. Always double-check if the address you are sending your funds to is correctly typed.