Ethereum Gambling Sites – 2018
Cryptocurrency gambling has been on the rise in the past couple of years. Hundreds of online casinos have opened their doors to various cryptocurrencies, and some have even built their entire platforms on them. Of course, the granddaddy of the industry are Bitcoin casinos; websites using this coin are by far the most popular and widespread ones.
However, a couple of years ago a new contender entered the industry that has a real shot at offering better gambling platforms than Bitcoin. Of course, we are referring to Ethereum or ETH for short. While Ethereum gambling websites are still few and far in between, they have become incredibly popular among cryptocurrency gamblers.
So, what is so attractive about an Ethereum casino? What makes this cryptocurrency better than its competition? What improvements does it offer? These are all legitimate questions that we plan to answer in this article. But before we do that, we need to explain what Ethereum is and how it works.
We have also prepared a list of best Ethereum gambling platforms as well. Our team went through the trouble of reviewing numerous casinos and betting sites that accept ETH. Even though there were many disappointments, we would be lying if we said that there aren’t any incredible Ethereum gambling options.
What is Ethereum?
Ethereum is not just a cryptocurrency; it’s an open source, blockchain-based, public platform featuring smart contracts. All this technical terminology can make your head spin, but we will try to explain it in layman’s terms as best as we can. Giving you a straight definition of Ethereum won’t help you understand how it works, so this is how we are going to do it. We will explain the three essential characteristics of this platform/cryptocurrency. All three will help you figure out why some people consider Ethereum gambling a better option than every other cryptocurrency, including Bitcoin.
More than just money
As we mentioned a minute ago, Ethereum is more than just digital currency. It is a computing platform and an operating system; it processes transactions and creates digital tokens for fundraising campaigns. The truth is that Ethereum has various applications in many different industries. For example, gambling operators can use Ethereum’s built-in features to create virtual shares and fund an ICO. Unlike Bitcoin ICOs, Ethereum ones are perfectly safe because until a company reaches their funding goal, they won’t receive the money. Additionally, if a business fails to achieve the goal, all backers will receive their money back.
Ethereum’s most significant advantage over other cryptocurrencies is its smart contracts. Unlike some other altcoins, Ethereum can program different functionalities on to its smart contracts. That means that you can use them to raise funds for your platform, secure fair gambling environment, offer provably fair games, and so on. The whole idea of Ethereum’s smart contracts is to provide decentralized gambling platforms. For example, two players can make a bet and resolve it without the interference of a third party. Furthermore, because smart contracts cut the middleman out, transactions are much faster and more secure. So, players will receive payments as soon as the game ends. Finally, all players can inspect the smart contract code and find out if somebody messed with it. This brings much-needed transparency into the gambling world.
Lower costs and faster transactions
As we said before, Ethereum offers quicker and safer payments thanks to its smart contracts system. Traditional online casinos have high costs because they use private servers to process all transactions. This is the reason behind slower processing times as well. On the other hand, an Ethereum casino has no such problems. Because all operations are carried out on the blockchain, there is no need to hire third-party software. Just to give you a reference, Bitcoin transactions take 10 minutes to process, while Ethereum does it in 15 seconds.
It should be noted that these characteristics are only available on Ethereum gambling platforms that are built from the ground up on the smart contracts technology. Furthermore, right now, a fully decentralized Ethereum casino does not exist. Most online casinos that accept ETH are doing just that; taking payments in this digital currency. However, some gambling projects have been in the development for the last couple of years, so we should be getting Ethereum-based casinos relatively soon. The most notable ones are Edgeless, FunFair, Truegame, and DAO.Casino, just to name a few.
From an idea to one of the leading cryptocurrencies
Ethereum lags six years behind its biggest contender Bitcoin. While the king of cryptocurrency became public in 2009, it wasn’t until July 2015 that Ethereum’s system went live. Even though Bitcoin had a 6-years head start, some predictions state that Ethereum could easily overtake it within a year or so. Let’s now take a quick look at Ethereum’s journey and how it ended up where it is today.
Before it went live in mid-2015, Ethereum was a project imagined by a Russian-Canadian programmer Vitalik Buterin. Back in 2013, a 19-year old Vitalik wrote a whitepaper where he described the idea behind Ethereum. He was disappointed with Bitcoin’s lack of scripting language for application development. That is why he decided to crowdfund the development of Ethereum, a platform with a more general scripting language. He was able to secure funds during a crowdfunding campaign that lasted from July to August 2014. As mentioned earlier, the platform went live a year later in July 2015.
Since its launch, Ethereum had a lot of success. It has been growing at a more rapid and steadier rate than many other cryptocurrencies. However, that is not to say that the project went without any problems. In fact, back in 2016, an unidentified hacker stole more than $50 million in ETH coins. This sparked a debate whether Ethereum is offering a safe and secure environment, which ended in a split into two Ethereum blockchains, Ethereum Classic (ETC) and its more famous counterpart Ethereum (ETH).
However, even with this scandal and split Ethereum maintained an upwards trajectory, even surpassing a $1,000 mark during the late 2017 value surge. Right now, many Ethereum gambling ICOs are under development like Edgeless Casino, FunFair, DAO.Casino, etc. All of these projects promise decentralized Ethereum-based gambling platforms. Even though we are yet to see them in action, smart contracts casinos will be an incredible addition to the gambling industry. But until that day comes, we have prepared a list of online gambling operators that accept ETH deposits and withdrawals.
Top Ethereum gambling sites
We have finally come to our list of the best Ethereum casino and betting sites. As we mentioned throughout the article, there aren’t many gambling sites that run on the smart contracts technology; we will have to wait a couple more months or years for them to go live. However, many legitimate and trustworthy casinos are accepting payments in this cryptocurrency.
Here, we have prepared brief Ethereum casino reviews to help you find a suitable platform for your needs. If you are interested in a more in-depth look at these operators, we suggest reading complete reviews on our website. Additionally, this list is no particular order. So, let’s check out the seven best Ethereum gambling platforms.
BitcoinCasino.us is an American-themed casino which – although it has Bitcoin in its name – recently began to accept ETH payments as well. They offer an excellent roster of games from slots to roulette. Furthermore, they have lightning-fast payments, provably fair gaming, as well as various bonuses and promotions. Even though this cryptocurrency casino hasn’t been around for a long time, it has quickly amassed a decent player base. Finally, while BitcoinCasino.us doesn’t have live chat customer support and they are not available 24/7, you will get a quality response within a couple of hours.
FortuneJack is one of the best Ethereum poker sites. But not only that; this online casino is one of the most recognizable names in the cryptocurrency gambling industry. They have been offering gambling services for almost four years, and to this day haven’t had any scandal or controversy. This is one of the most trustworthy operators on the market, and they have thousands of players to back up this claim. When it comes to gaming, you can play any casino game, from the aforementioned poker to slots, roulette, blackjack, and so on. They offer instant payments and accept a dozen more cryptocurrencies besides ETH. Finally, their customer support team is available 24/7 via live chat and email.
BetChain is one of the oldest players on the market. However, they have recently expanded the list of their accepted cryptocurrencies and added Ethereum. They offer numerous casino games from top-notch game software developers like Microgaming, MrSlotty, Ezugi, NetEnt, and so on. Of course, you will be able to play games like slots, baccarat, roulette, video poker, as well as some casual games like Minesweeper and Heads and Tails. Additionally, BetChain runs various casino promotions regularly. For example, their current welcome bonus is a match bonus of 100% based on your first deposit, plus 200 free spins. As every other cryptocurrency casino, BetChain has almost instant deposits and withdrawals. Also, they offer 24/7 live chat customer support.
If you are looking for an Ethereum sports betting platform, then 1xBit might be your best option. This incredible website offers to bet on any sport and event. Plus, they have slots, poker, lottery, and even live casino games. Besides betting on regular sports events, you can also place bets on the virtual ones. Many people have a gripe with 1xBit’s design, as it’s too flashy and cluttered. They also run a couple of promotions, most notably a 100% welcome bonus. However, it is only available for Bitcoin payments. Interestingly, 1xBit has a dedicated mobile app for Android devices, but you will have to download it from their website; it’s not available on the Google Play Store.
Betcoin is best known for its Bitcoin poker and gambling services, but they do accept other cryptocurrencies, including Ethereum. Unlike other casinos on this list, Betcoin has different bonuses and games for its Ethereum players. You will get to play all fan-favorite casino games and claim a welcome bonus up to 10 ETH. Furthermore, this gambling operator runs many different live casino games and even an extensive sportsbook. Apart from that, Betcoin has incredibly fast payment methods, as well as a live chat customer support. Finally, this casino is sporting one of the largest communities currently, which is a testament to the quality of their services.
6. Crypto Games
Next, we have a fantastic Bitcoin dice website that later started accepting Ethereum payments called Crypto Games. Of course, as its name implies, dice is not the only game available on the website; you will also get to play slots, roulette, blackjack, video poker, plinko, and lotto. Despite offering just seven games, Crypto Games is one of the most popular websites in the industry because all of them are provably fair and 100% safe. Additionally, Crypto Games is a simplistic casino. So, you won’t get many flashy features like bonuses and promotions. However, what they do offer is a genuine gambling experience with entertaining games and secure transactions.
Finally, we have another Ethereum betting and casino website called mBit. This is a licensed cryptocurrency casino, which you don’t see that often. mBit has all favorite casino games from slots to table games. Additionally, they have a comprehensive sportsbook that supports dozens of different sports events, including eSports matches. Furthermore, mBit has clean and modern visuals, live chat support, and numerous promotions, including slot races. If you are looking for a compact and powerful gambling platform, then mBit is just right for you. Just keep in mind that Ethereum payments were added recently, so ETH promotions and tournaments are yet to come.
Industry changing potential!
Ethereum gambling with its smart contracts has all predispositions to become the future of online gambling. However, as of now, Ethereum decentralized casinos are still not a thing (fingers crossed they will be soon). Therefore, if you wish to gamble with your ETH coins, you will have to settle for an online casino that just accepts Ethereum payments. Of course, any of the ones that we listed here do that, so choose the one that suits you the best and gamble away.