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< BackJune 9, 2020

Ethereum Gambling 101

ethereum-gambling-101

Everything about Ethereum Gambling

Ethereum gambling is one of the most popular cryptocurrency gambling methods online today. Here’s how Ethereum gambling works:

Introduction to Online Gambling

Online gambling can include poker, blackjack, dice games, roulette, video slots, and virtually any game you’d find in a traditional casino. Unlike a traditional casino, however, online gamblers can play in the comfort of their own home. 

There are hundreds of thousands of different online gambling sites online today, but all share a few similar features:

  • Funding & Withdrawal: Online gambling platforms allow players to fund an account on a gambling site, and withdraw winnings via a variety of currencies through bank transfer, internet payment systems, or cryptocurrencies

  • House Edge: Reputable gambling sites will publish house game payouts, letting players know exactly what edge the house has. In truly ethereum casinos, house edge is low and equals to 1% and lower. 

  • Bonuses: Online gambling sites offer a wide variety of bonuses and loyalty programs such as welcome bonuses or free spins.

What is Ethereum Gambling? 

Ethereum gambling involves using Ethereum, a popular and valuable cryptocurrency, to deposit money, make wagers, and withdraw winnings. 

Sites that support Ethereum as a deposit method are often referred to as Ethereum casinos, and are popular with players that prefer gambling cryptocurrency. 

How to Use Ethereum for Online Gambling

ETH gambling is similar to gambling with bitcoin or USD. Getting started with Ethereum betting only requires that a player possess some Ethereum. To use Ethereum for online gambling, you’ll need to choose an online gambling platform or ETH casino that supports Ethereum. 

When considering an online Ethereum casino, it’s best to consider a few options and weigh up factors such as deposit bonuses, or house edge. If you’re interested in dice, for example, you may want to search for an ETH casino that offers the lowest house edge Ethereum dice game.

When you’ve chosen a casino, getting started is simple:

  1. Deposit Ethereum to your wallet address on an ETH casino

  2. Choose a game — Ethereum poker, Ethereum blackjack, or Ethereum dice are popular options

  3. Make wagers

  4. Withdraw your winnings in Ethereum to your personal Ethereum wallet

Ethereum Deposit Bonus: How it Works

Ethereum betting comes with a major advantage — Ethereum deposit bonuses. Many platforms offer players a bonus when they join a new online casino. In most cases, this will involve a “matched” bonus and possibly Ethereum free spins.

TrustDice, for example, is a major Ethereum gambling casino that offers a deposit bonus of up to 30 ETH, as well as 25 ETH free spins. A player that deposits 10 ETH will receive a 10 ETH bonus, while a player that deposits 30 ETH will receive a 30 ETH bonus.

ETH Gambling vs BTC Gambling 

Ethereum and Bitcoin are the two most popular and reliable cryptocurrencies for cryptocurrency gambling. There are a few major differences between Ethereum and Bitcoin that you should consider if you’re not sure which cryptocurrency to use:

  • Ethereum is generally faster than Bitcoin. Bitcoin transactions take a minimum of 30 minutes to complete, whereas Ethereum transactions take between 15 seconds and 5 minutes.

  • Ethereum transactions are cheaper than Bitcoin. When the Bitcoin network slows down in peak periods, Bitcoin transaction prices can get quite expensive

It’s also important to note that gambling with Ethereum is cheaper and simpler than gambling with Bitcoin. In TrustDice’s Video Slots, for example, the minimum bet for Ethereum is $0.0024 (0.00001 ETH), but with BTC it’s $0.01 (0.000001 BTC). 

Buy Ethereum

I Want to Try ETH Gambling — Where Can I Buy Ethereum?

Buying Ethereum is very simple. You can purchase Ethereum with a variety of payment methods, including credit or debit cards, bank transfer via the following platforms:

Best Ethereum Wallet

If you gamble with Ethereum, you’ll need software to store it. You can store Ethereum on smartphone apps, but it’s generally considered more secure to store it on a dedicated device — called a hardware wallet. 

The best Ethereum wallets include:

How to get Ethereum for Free to Gamble with ETH

If you don’t want to buy Ethereum, it’s possible to score some Ethereum for free via a variety of sources. You can score free Ethereum from Ethereum “faucets,” which give away small amounts of ETH. These faucets include:

  • Trustdice Ethereum Faucet, which gives away up to 0.00002 ETH on a regular basis

  • Allcoins.pw gives away 0.00000586 ETH every 300 seconds.

  • Twitter giveaways and competitions for free Ethereum: You need to have a twitter account to join crypto giveaway. Just search for hashtags: #freemoney, #freecrypto #giveaway and you will see a lot of channels who are arranging giveaways. The most popular giveaways are Ethereum giveaway, BTC, TRX and XRP one. It only requires to like, comment and share their post to join the giveaway. After a few days you will know the result of it and if you're a winner you get your ethereum or crypto.

Key Takeaways

If you’re new to Ethereum gambling, it’s relatively simple to get set up and gaming straight away. Choose a reputable platform to buy Ethereum from, pick an Ethereum casino that offers attractive bonuses, deposit ETH, and make some winning wagers.

Related posts: 

1. Crypto Arbitrage vs. Bitcoin Gambling

2. Bitcoin Blackjack: Top games & Strategy & Tips