Ethereum casinos allow users to get access to more features than a traditional casino by enabling gambling and payments through the world’s second-largest cryptocurrency. They offer a variety of games, including slots, dice, poker and sports betting coupled with the security, privacy and convenience of using Ethereum. With almost instant payment options, integration of smart contracts and unique features, it is no wonder that a number of Ethereum casinos have popped up since the founding of the platform in 2014. Here is a comprehensive guide to choosing the best Ethereum casinos in 2021.
Our List of The Top Ethereum Casinos
It is important to understand the specific features, advantages and the functioning of Ethereum casinos before choosing the one that meets your requirements. In this guide, we provide an overview of everything you need to know about top Ethereum casinos along with their features and advantages.
What is an Ethereum Casino?
An Ethereum Casino is essentially any casino that not only offers and accepts ether (ETH) as a payment option but has also built its entire gaming experience on the Ethereum blockchain. This means that users can enjoy the traditional benefits, games and win probabilities along with the additional advantages of fast transactions and anonymity. Further, Ethereum casinos better your gaming experience through a wide range of games and powerful features like potential generous (Return to Player) RTPs.
While its community-built cryptocurrency ether can function as a full-fledged digital asset, its architecture allows users to do much more than just that. Further, Ethereum can be used as a decentralised app, meaning that casinos built on blockchain cannot tamper with games even if they wanted to.
How do Ethereum Casinos work?
While most Ethereum gambling sites have different minimum investment amounts or starting bonus benefits, all of them typically can be used by following these three simple steps:
1. Register and Buy Ethereum
Opening your Ethereum casino account is similar to signing up on any other online casinos. You must register using your details on your chosen casino and complete your identity verification based on the KYC rules in your region. This step is important to avoid fraudulent accounts and build a secure platform. Post this, you must buy Ethereum through a cryptocurrency exchange and store it in a crypto wallet.
2. Make a Deposit
Once your account is registered and verified, you will be directed to the deposit page. Here, choose Ethereum as the payment option, as most Ethereum casinos also support other cryptocurrencies. It is important to note the minimum mandatory deposit for the platform and then decide how much amount you wish to send to your online casino account. Once you enter this amount, the platform will generate an Ethereum wallet address to which you will have to transfer funds from your crypto wallet. Click on submit payment after rechecking that the wallet addresses are correctly entered to complete the deposit.
3. Withdraw your Winnings
You can start investing, playing a variety of online games and gambling through the platform as soon as your first deposit is reflected on your casino account. Each platform offers its distinctive advantages and bonuses that you are advised to make complete use of in order to have a fruitful experience. You can withdraw your winnings from the casino at any time though most Ethereum casinos have a minimum withdrawal limit. To withdraw, simply go to the withdrawal tab and select the payment option as Ethereum. Then, just input the amount you wish to withdraw and click on submit.
Are Ethereum Casinos Legal?
While Ethereum casinos offer lucrative rewards and come packed with the additional highlights of using a decentralised platform, it is important to determine whether they are legal to use in your region. Though online gambling is officially licensed and regulated in most countries across the world, regulators have little consistency or co-ordination on their crypto gambling norms. This is not only because of the novelty of the platforms but also because they have been deemed difficult to regulate.
However, countries like Netherlands, Belgium, Greece, Belgium, Italy and the UK have already taken their first step towards legalizing and regulating crypto gambling platforms with attempts to overcome the suspicion cryptocurrency is often viewed with. Crypto gambling is not technically illegal in the eyes of the federal law at the USA though users must carefully review state laws and check for the origins of the casino before giving a final verdict on its legality. In the UK, on the other hand, regulators are attempting to identify effective mechanisms to regulate crypto casinos as a 2016 law allowed gambling license holders to accept cryptocurrencies.
It is recommended that users conduct extensive research to determine the legality of a particular Ethereum crypto casino based on the laws in their region. It is also useful to understand the tax laws surrounding online crypto gambling to make a more informed choice.
Are Ethereum Casinos Profitable?
With its advanced features, high-rated security and a wide range of games that caters to all types of users, Ethereum casinos are known to have reportedly offered better gambling experience and convenience. They are unique in how they record transactions and how they build their gaming architecture.
However, no form of online gambling is completely free of risk and it is advised that users only play with what amount they can afford to lose. With that being said, you can only potentially increase your chances by using platforms that are top-rated, have low house hedge and by keeping yourself updated with the latest developments in the industry and comprehending the casino lingo. It is advised to start small and save your profits along the way instead of reinvesting all your winnings.
Key Things to Consider when Choosing the Best Ethereum Casinos
With a number of Ethereum casinos available, it can be overwhelming to determine your right fit. Here are key factors that should be considered while choosing the right platform to help make this process simple:
- Security and Transparency:
The difference between using a casino that accepts ETH payments and an Ethereum casino is its levels of security and transparency. Most Ethereum games are built on the Ethereum blockchain and thus can ensure the fairness of the games and the regularity of payments. Further, the casinos constantly audit games and show players the rolls of results, making it easy to verify.
- Low House Edge:
Ethereum casinos outrank other casinos by offering unbelievably low house edge. House edge basically refers to the mathematical advantage that the gambling game, and therefore the commercial gambling platform, has over you as you play over time. It is important to identify platforms that use the Ethereum blockchain as it allows casinos to earn a profit from its games in the long run without not artificially skewing it in the favour of the casino. Most Ethereum casinos reportedly have a less than 1% house edge improving your chances at winning.
- Fast deposit and payout:
The architecture of the Ethereum blockchain enables casinos to offer fast and secure transactions. Scams and false coin generation is prevented as all participants have to check and verify the authenticity of a new transaction. The blockchain runs in real-time and can also guarantee advanced security features, depending on the platform. Moreover, most Ethereum casinos are rated higher than Bitcoin casinos in terms of the speed of transactions.
- Licensing and Privacy:
It is definitely recommended to use a licensed and, if available, a regulated platform as it significantly reduces your chances of becoming a victim to cyber fraud. However, privacy and anonymity are one of the foundational principles of cryptocurrencies and a huge part of what makes them favourable to most people. Thus, it is recommended to check for the mechanisms the Ethereum casino uses to ensure privacy and protect your transaction details.
- Welcome Bonus:
Another factor to consider while choosing the best Ethereum casino is the attractive welcome bonus that is usually offered. Ethereum casinos greet users by offering free coins and spins, reducing the investment required to get started on the platform. Further, exclusive incentives are also offered to select users at certain time periods through bonus codes and vouchers.
Pros and Cons of Using Ethereum Casinos
Ethereum, despite being the second-largest cryptocurrency in the world, is still relatively new. It has the potential to maximise its impact and disrupt the industry. With its unique blockchain architecture and smart contract features, it is one of the most suitable options for online gambling. Today, a number of Ethereum casinos are available with most of them offering high levels of security, privacy and transparency along with the traditional games and win rates. It is important to choose the platform that best suits your needs.
Frequently Asked Questions
Ethereum Casinos are online gambling casinos that transact in ETH and/or are built on the Ethereum blockchain.
Selecting a regulated and licensed Ethereum casinos will ensure the safety of users’ funds.
The legality of using an Ethereum Casino can be determined by checking the national and local laws in your region.
Yes, you can play games like slots, dice, poker and even engage in sports betting.
You can register by filling the sign-up form and verifying your identification details based on local KYC norms.
Yes, most Ethereum Casinos offer welcome bonus both through ETH coins and free spins.
Yes, most casinos mandate a minimum deposit amount.
You can withdraw your earnings anytime by selecting the payment option on the withdrawal tab, entering your amount and clicking submit.