EOS is a fairly new cryptocurrency. To be more precise, it is a blockchain decentralized system infrastructure that enables the development of decentralized applications (dApps). In 2018, one of the most extraordinary Initial Coin Offerings of all time took place. EOS, the native token of the EOS.io network, managed to obtain more than four billion dollars worth of Ethereum before it was even available in the market. This tremendous amount of hype actually had merit. The project boasts unbelievable speeds and virtually non-existent fees.
It sounded too good to be true, but it actually is the case. Believe it or not, the above features alone make EOS gambling a very enticing option. But, unfortunately, being such a new coin, there are not many bookies accepting it. Therefore you need to do extra research to find which EOS sportsbook to select. But we gather all the information you will need to know to stay ahead of the competition and useful simple steps you can follow. So let’s dive into the reasons why and how to approach EOS betting sites.
Top-Rated EOS Betting Sites for 2022
It is a fact that EOS is an option you will not find easily in gambling. That is why we put together the most reliable options, based on the available bets in most markets, ease of use and a responsive Live Bet, favorable bonus wagering and top-notch customer support. The latter is essential, given that EOS gambling has only been around for a couple of years.
What makes EOS Gambling unique
EOS is a special kind of breed in crypto. Contrary to Bitcoin, it aims to build a diverse ecosystem of applications in a fair, sustainable and inclusive way. To be more precise, EOS was conceived within mind ways to tackle many of Bitcoin’s inefficiencies, such as slow speed, increased fees and a lack of applications built upon BTC’s infrastructure. The existence of smart contracts is much more in line with Ethereum’s vision, but with scalability applied from the get-go.
As time goes by and protocol becomes more popular, gambling applications will explode in UI friendliness and UX. The same goes for EOS bookmakers, which will increase in number. More bets on large and smaller markets will become available. Competitive odds will become more available too and with all in all more mainstream variety options, such as Live betting, possibly even futures and props.
Strengths in EOS gambling
There are a lot of reasons that EOS gambling feels like a good choice. From incredible speed to non-existent fees, increased privacy and lots of decentralized gambling applications. Let’s explore some of the basic ones below.
✔ Good privacy
EOS takes advantage of the fundamental nature of cryptocurrencies and offers transactions that can stay fully anonymous. Unless you link your personal information with your EOS address, either by accident or because you're asked for verification during a withdrawal.
✔ Among the fastest transactions around
Hands down, EOS has some of the fastest transaction speeds available. This will be very useful when it comes to Live Betting or a need for a speedy withdrawal. Just remember that some bookies may perform them manually in case of the latter, so you might still wait for a day. Still, this is a high-speed service.
✔ Literally no fees
One of the novelties of the EOS network is that it requires almost no fees for each transaction. It sounds too good to be true, but we assure you it is. Besides the fact that sometimes bookies absorb the fees anyway, with EOS gambling, you will never pay more than a fraction of a cent for your deposits and withdrawals. It doesn’t get any cheaper than that.
✔ Secure Transactions
You will never need to worry about your transactions falling through or getting disputed. Like most cryptocurrencies, EOS utilizes a blockchain, a digital ledger with copies in computers worldwide, which is impossible to falsify or hack. And the best part, all transactions on that ledger are publicly available. So the next time your bookie claims they have not received your deposit, you can turn on-chain and provide indisputable proof.
✔ Very promising use case
EOS network promises to change the landscape of crypto as we know it. With the endgame being an open-source, accessible to anyone network that provides the tool for any level of knowledge to build on it, the possibilities are endless. So is the path to greater adoption by bookmakers that accept EOS.
✔ Under the radar betting paradise (in dApps)
Suppose your goal is to enjoy your gambling without anyone ever knowing about it, regardless of the country you are located in. In that case, you can finally do so by using decentralized gambling applications. There, you can deposit and play with literally no need to provide any personal information, whether during your deposit or your withdrawal, which is always instant, by the way. The above will never be possible even in the most accessible, loose, but centralized EOS sportsbook. A fascinating option to have.
✔ Excellent upside potential
When it comes to promising young projects, EOS is one of the most prominent ones. It has only been a couple of years since its public listing in 2018, so if all goes well, it may be one of the cryptocurrencies with the greatest upside potential. Meaning if you choose to use it, your gains might be multiplied by a lot in the following years.
Weaknesses of EOS gambling
Of course, not everything regarding EOS gambling is rosy. There are certain disadvantages to consider before deciding to use it. Best consider both upsides and downsides before making your decision. See below the negative aspects of using EOS for gambling.
❌ Very scarce option
EOS may very well be one of the rarest options to find for your bankroll. Not only is it very new as a project, but there are very few bookies offering it. Hopefully, this will change. But your options are minimal for now. Meaning it’s entirely possible you will not find all the betting options you would want. Such options would be special bets, exquisite markets, and of course, competitive odds. So for now, it is a beggar, not choosers situation.
❌ Possible Regulation
A constant consideration when it comes to crypto is a possible future regulation. Because they are so new as a betting option and asset in general, cryptocurrencies are something authorities have not yet decided how to tackle. Of course, the decentralized aspect of EOS does offer some hope, but you can never know how and when a government may crack down only on crypto with unbearable regulations.
❌ Volatility in price
Same with every new market, cryptocurrencies are famous for the volatility in their price. EOS, for example, during its first year rose four times its value, then fell four times its value. After that, it continued with lukewarm price action for the next couple of years until it started rising again. Imagine how that feels for your bankroll in EOS.
❌ No working product yet
As far as empty promises go, EOS is very high on that list. Despite raising more than four billion in initial investment from the public in 2018, it still has no fully working product well. Time will tell if the developers deliver or go down in history as a costly failed project.
❌ Irreversible Transactions
Since one of the defining aspects of all cryptocurrencies is the lack of intermediaries, you must be very careful with any transactions. That is because, in case of a mistake or sending your funds to the wrong person or address, you will lose them forever. Transactions in crypto are irreversible, so there is no margin for mistakes or any authority to claim misplaced or stolen funds.
❌ Withdrawal Limitations
Even though cryptocurrencies allow for unrestricted transfers of any amount of money, this is not always possible. And this usually happens when it comes to your withdrawal when bookies often impose manual daily, weekly limitations to amounts you can withdraw. Something to consider, especially in case of a large win. Always read the withdrawals’ fine print.
❌ Gambling Dapps are scam infested
We briefly spoke about decentralized gambling applications and how you can use EOS for under-the-radar betting. The catch is that the vast majority of those applications are scams and they will steal your money if you do not do your due diligence before using them.
❌ Above-average difficult to use
You need to have a certain level of knowledge and expertise when dealing with cryptocurrencies. Unfortunately, to get that, there is a rather steep learning curve. This is especially true with EOS because of the peculiar way the EOS network requires you to execute your transactions.
Are EOS betting sites safe
Yes, EOS gambling sites are safe, but you need to be careful. One good habit to practice is to always play with trusted bookies. Look for bookmakers with a license. They should offer good bonuses, provide lots of bets in the market you wish to play. Last but not least, they must utilize responsive customer service (chat & email. Nonetheless, you will find basic options like Moneyline, WDW and parlay in most of them. Next, there is, of course, some consideration about law and taxes.
☝ Legislation around EOS gambling
Regarding gambling, it is a bit vague but depends on age & gambling laws in your region. Also, keep in mind that legislation is ok as long as you play at a trusted bookie, but in general, if the bookie is accessible to your country, it’s probably ok to use it.
☝ Do I pay taxes using an EOS Sportsbook
For the time being, you are safe if you approach it as any potential taxation coming from gambling winnings. Also, keep in mind, in most cases, unless you realize profits/crypto to fiat, you are not taxed. When in doubt, always consult a professional.
How to go about EOS Sports Betting
We know how it is to get your footings in the beginning. That is why we did the work first and have gathered all the essential information you will need to start venturing into EOS gambling quickly. Remember, it is not rocket science and this process is more straightforward than you think. You just need to follow some basic steps correctly each time. In a short time and with practice, you will master the basics of EOS sportsbooks.
What is EOS.io
EOS is the native token of the EOS.io blockchain protocol. This smart contract platform aims to eliminate fees and be able to process a million transactions per second. EOS was founded in 2017 by a well-known former Bitcoin early investor, Dan Larimer. Larimer founded a couple of other successful projects before EOS. He is also the author of the very promising algorithm called delegated proof of stake, which is considered a breakthrough and a most democratic approach to blockchains achieve consensus so that no one can falsify or dispute its records.
The EOS coin was released during the 2017-2018 Initial Coin Offering (ICO) craze when people paid ridiculous amounts of money to invest early in hot projects. EOS has received some understandable criticism about the possibly unnecessary size of the ICO. The amount of money it sought to gather and the one whole year it took it to do so was considered overkill. It is, however, getting adoption, slowly but steadily. Despite the young of its age, EOS is a top 30 coin, and if it delivers even half of what they promise, to the least, bookmakers that accept EOS will become more common.
EOS and Decentralized Gambling Applications
With crypto, there is a whole new universe of next-generation applications. In new ecosystem coins especially, such as EOS and TRX (TRON), it seems that while at their beginning, a good portion of new apps is about gambling and gaming. These are called gambling dApps. Totally anonymous and autonomous. These dApps operate through a smart contract and do not need operators or manual processing and management. This lack of operators eliminates the need for a margin, which could possibly translate to better bonuses and perks for the players. It is also the true El Dorado of under-the-radar betting and it is getting more and more widespread.
Buying and Depositing at EOS gambling sites
Since EOS is a very well-known coin, you should not have to acquire it in much trouble. Nevertheless, you must use good and trusted exchanges to ensure you will get your money’s worth. Some of the exchanges we would recommend are Binance, Coinbase, Kraken. Then, simply follow the steps below:
- 1 Open an account. If you trade up to a certain amount (usually depicted in BTC worth), you will not need KYC.
- 2 Deposit your fiat
- 3 Buy some EOS, then transfer it to your digital wallet. Careful on the peculiarity of EOS wallets.
- 4 Go to your EOS Sportsbook, sign up for an account; in most cases, you only need an email address to register. In the deposit section, select EOS. Then, copy the unique address generated there. Always carefully check the address you are depositing crypto.
- 5 Go back to your wallet and paste the above address. Confirm the transaction.
- 6 That’s it. Within minutes, you have funded your account and you can now start betting.
How to Withdraw from EOS betting sites
The withdrawal process is essentially the same as the deposit. Be careful to check your EOS Sportsbook’s policies first before initiating a withdrawal. This will ensure you will not get your request stuck and await possible manual processing by the bookie.
Go to the withdrawals section.
Using the same process as deposits but in reverse, send your gains back to your wallet.
You can now either store your EOS in your wallet or go to a trusted exchange and trade it for anything, whether crypto or for fiat.
What other games can you play with EOS gambling
The way it goes, casinos have always been the first movers for adopting new payment methods. In the case of EOS gambling, this too is the case. Even more so, given the sheer number of decentralized gambling applications that have the lion’s share of EOS network usage until this day. The incredible transaction speeds allow an almost instant top-up for your bankroll. Along with the ridiculously low fees, make an excellent case for gambling, regardless of whether you opt for EOS gambling dApps or EOS gambling sites. It will be easy to find popular options, such as Slots, Live casino games, Roulette, Blackjack and variations of Poker games such as Texas Hold’em and Omaha.
Our take on EOS gambling
EOS is an exceptional case. It aims to create a better experience for anything crypto. Its unique vision and approach are groundbreaking. Moreover, suppose Larimer and his team manage to deliver fully and the community embraces it. In that case, it will make history, making crypto accessible in simpler ways to the greater public. There may not be many EOS sportsbooks around, but there too lies a great potential and bookies know it. You should take advantage of the EOS network’s incredible speed, which is much welcomed when funding your bankroll or withdrawing your gains. The same goes for the virtually non-existent fees that allow for many transactions without the fear of costs chipping away your pocket. Just make sure you select EOS gambling sites with a robust reputation, great variety of bets in large markets, good odds and, of course, licensed and responsive in their chat and email.
Yes, it is. Provided you take some precautions and make sure to play with trusted bookmakers and follow correct steps required when dealing with cryptocurrencies, such as double-checking the address you are sending your EOS.
EOS is different from BTC in the way it aims to create an entire ecosystem and infrastructure for smart contract applications to be built upon it for various use cases. It is also much faster and cheaper to use than Bitcoin.
If the EOS team of developers manages to deliver even remotely close to the things they promise, EOS.io will have the future of making crypto accessible, faster and cheaper to use.
Yes. EOS transactions can be thousands of times faster than Bitcoin’s. To put into perspective, Bitcoin can process up to 7 transactions per minute, whereas EOS aims to process at least a couple of ten thousand transactions.
Since EOS is a scarce option in gambling at the moment, you need to be wary of any bookies offering it as there may be many scams too. Look no further to our list of trusted and best EOS Sportsbooks.