Ethereum Casinos - Full Guide to ETH Gambling 2022

martin-hillMartin Hill
4 min read
Ethereum Facts
ethereum-logo
Company: Ethereum Foundation
Founded in:2013
Headquarters:Zug, Switzerland
CEO: Vitalik Buterin, Gavin Wood
Website:ethereum.org
Available in:110+ countries
Available in Canada: since 2015
E-Mail:[email protected]
Best Ethereum Casino:Stake
MoreLess

Ethereum (ETH) is the second biggest cryptocurrency after Bitcoin. Many investors saw the potential in Ethereum right away because it was the first to use smart contracts on the blockchain. Smart contracts automatically execute transactions when terms to a contract have been met, which means that not only is it faster but it is also more transparent because no middle man is needed. This is fundamentally changing how businesses work, so it’s no wonder that Ethereum has become one of the most established players in the crypto space.

This has proven to be a serious competitive advantage for Ethereum in the online casino space as well. Simply put, the sheer number of people holding Ethereum means that it’s in online casinos’ interest to accept the coin, which is actually called Ether. The fact that this coin is held by so many top investors makes it a safe bet in that its value is unlikely to plummet, even though there are obviously no guarantees in this burgeoning space. Although the smart contract mechanism in Ethereum isn’t really employed in online casinos for now, ETH does have all the advantages of a cryptocurrency, that is transactions happen at lightning speed because banks are not involved.

Given its widespread popularity, you’ll easily find an Ethereum Casino to play at, and there are plenty of ETH gambling sites with sportsbooks too. In this ETH Casino guide, we’ll cover topics like how to bank with this crypto at online casinos, things you should be aware of – namely fees, as well general info such as the history, background and value of Ethereum. It goes without saying that we’ll have a list of the best Ethereum Casinos that are fully licensed.

Best Ethereum Casinos 2022

There are lots of scams out there looking to separate you from your money. A licensed online casino is the best way to protect yourself against scams and hacks.

eCOGRAGLIiTech LabsMalta Gaming AuthoritySSL Secured
bitstarz-logo95% Excellent$2,000 or 5 BTC+ 180 Free Spinsvisit BitStarz Casino Read Review
stakecasino-logo-cryptos-only95% Excellent$500visit Stake Read Review
cloudbet-cryptos-only95% Excellent5 BTC / $1,000 + 200 Free Spinsvisit Cloudbet Casino Read Review
fairspin-casino-logo95% Excellentup to $200 000+ 140 Free Spinsvisit Fairspin Read Review
Bitsler-only_cyptos-Logo93% OutstandingVIP programvisit Bitsler Casino Read Review
Rollbit-onlycrypto-logo93% OutstandingChallenges & Bonus Battlesvisit Rollbit Read Review
BCGame-Logo93% Outstandingno limitvisit BC.Game Casino Read Review
rocketpot-casino-logo-500x200-193% Outstanding1 BTCvisit Rocketpot Read Review
roobetcasino-logo-cryptos-only92% OutstandingRoowardsvisit Roobet Read Review
Duelbits-logo-cryptos92% OutstandingVIP programvisit Duelbits Read Review
fortunejack-casino-logo92% Outstanding6 BTC or 1200 USD+ 250 Free Spinsvisit FortuneJack Read Review
mbitcasino-cryptos-only-logo92% Outstanding5 BTC+ 300 Free Spinsvisit mBit Casino Read Review
Gamdom-logo91% OutstandingCashbackvisit Gamdom Read Review
pirateplay-casino-logo91% Outstanding$500visit Pirateplay Read Review
MoreLess

Ethereum at Casinos

With Ethereum being one of the biggest cryptocurrencies, ETH can now be used to make a lot of payments online, including at crypto online casinos. Some of the advantages of using Ethereum include:

ethereum-logos

  • Instantly processed
  • No banks involved
  • Not location bound
  • Secure and anonymous

It’s worth noting though that when it comes to online casinos, the anonymity factor won’t come into play because they are legally required to verify each player’s identity before payout. This is to prevent money laundering, and we wouldn’t try to find a workaround on this one. It’s important to play at legal and licensed casinos especially if you are using crypto.

How to Use Ethereum at a Casino

So you got yourself some ETH and now you’re wondering how you can use it at an online casino. Some casinos will let you make Ethereum deposits directly with your crypto wallet. The precise steps to banking with Ethereum at crypto casinos will of course vary from site to site, but it’s more or less as follows:

  1. Go to the Cashier or banking section of your casino account
  2. Choose Ethereum as your payment method
  3. Enter the amount you wish to deposit
  4. The casino will generate a one-time Ethereum address for you to send the money
  5. Enter that address into your crypto-wallet along with the amount you want to send. If you hold multiple digital assets in your wallet, make sure you are sending ETH!
  6. You should see the deposit in your casino account shortly.

arrow iconTip: It’s best to choose an online casino that accepts Canadian dollars and cryptocurrencies rather than a pure crypto casino. This way, you get more flexibility and can switch between fiat and crypto payments easily.

Some other online casinos will let you pay with Ethereum through an e-wallet such as Skrill or Neteller. In some cases, your ETH may be converted to dollars when it shows up in your casino account.

what-is-ethereumMoreLess

Pros and Cons to Using Ethereum at Online Casinos

While there is a good handful of online casinos that let you bank with Ether, there are some advantages and disadvantages. Here are the key things you should be aware of:

Hits:Misses:
  • Fast, secure transactions
  • No banks involved
  • Your source of funding is anonymous
  • Fees from cryptowallets can be significant
  • Fluctuating exchange rates
  • Not fully anonymous as you still need to verify your casino account

Tips for Using Ethereum at Casinos

It’s good to check whether a casino will convert your ETH to dollars, or will leave it as ETH when it comes to withdrawing your winnings. That’s because with the fluctuating exchange rates between Ether and fiat, you can potentially get a bit more – or less, depending on which way the rate goes.

coins iconFor example, 1 ETH in late February was worth $1,805.55 Canadian. By the first week of March, it grew to $1,999.04 CAD. If your balance is maintained in ETH, then you would end up getting more dollars when you withdraw your winnings as it would be calculated on the actual exchange rate. Conversely, if your balance is converted into Canadian dollars, then you would lose out on the increase in the ETH’s value – but on the flip side, you won’t suffer if the ETH goes down.

Another important tip is to check what are the fees for transferring payments with your crypto wallet. While most Ethereum casinos won’t charge you for making a deposit in ETH, some such as Coinbase will charge a miner’s fee when you send cryptocurrency outside of the Coinbase network. These fees can be high and add up quickly. Other cryptowallets have Visa cards so you can make crypto payments more easily.

Ethereum History & General Information on ETH

Of all the cryptocurrencies out there, Ethereum is one of the more established ones. Although it has a shorter history than Bitcoin, Ethereum has been a favourite among investors in digital assets because it was the first to implement smart contracts. As such, Ethereum has become one of the most popular cryptocurrencies.

Like Bitcoin, Ethereum is also based on an open sourced, de-centralised blockchain; however, the smart contract functionality allows the terms between the buyer and seller to self-execute. Smart contracts allow the building of Decentralized Autonomous Organizations (DAO) where people can quickly complete exchanges with each other without additional confirmation from a third party.

This removal of mediation leads to a faster and more efficient process that will fundamentally change how the world does business. Thus, for those who have long been interested in investing in digital assets, Ethereum is sometimes considered as more important than Bitcoin.

It all began in 2013, when the then 19 year old whiz kid programmer Vitalik Buterin proposed the idea and its development was quickly crowdfunded. In July 2015, the Ethereum network went live with 72 million coins. The token for Ethereum is actually called Ether or ETH, but nowadays they’re practically synonymous.

Ethereum FAQ

  1. How can I get Ethereum?
  2. Which Ethereum Casinos are Trustworthy?
  3. How much is Ethereum worth?
  4. What is Ethereum 2.0?
  5. Can I use Other Cryptocurrencies at ETH Casinos?

1.) How can I get Ethereum?

You can buy Ethereum, or more precisely Ether, at cryptocurrency exchanges such as Coinbase and Binance. Use your regular Canadian dollars, or any fiat currency, and you will be able to buy some Ethereum according to the actual exchange rate.

Back to FAQ

2.) Which Ethereum Casinos are Trustworthy?

casino-house-64x64.pngIf you’re looking for a casino where you can bank with your Ether, then our biggest tip is to choose a longstanding online casino, rather than a spanking new site specialising in crypto. A more established casino will have proven its worth among players, whereas new crypto casinos might just be looking to make a quick buck. Obviously, it’s absolutely critical that you choose a licensed casino too. We’ve listed trusted and reputable online casinos that accept ETH among other cryptocurrencies on this page.

Back to FAQ

3.) How much is Ethereum worth?

The exchange rate between Ether and the Canadian dollar is always fluctuating. For example, on 3 March 2021, it was worth $1,997.26 CAD, while on 24 Feb 2021 it was worth $2033.23. To get the latest rates, check the crypto exchange platforms.

Back to FAQ

4.) What is Ethereum 2.0?

Ethereum 2.0 is an upgrade to the Ethereum blockchain to allow for faster and more transactions. If you hold any ETH, it won’t affect you from a user perspective and your coins won’t be affected.

Back to FAQ

5.) Can I use Other Cryptocurrencies at ETH Casinos?

cryptocurrenciesYes, but the options are limited. Although there are tons of different cryptocurrencies, ETH and other cryptocasinos will only accept the more established digital assets. Typically, you will find that Bitcoin and Litecoin are also accepted at ETH Casinos.

Back to FAQ

The Expert Conclusion on Ethereum Casinos

smiley iconIt’s pretty easy to get on board with Ethereum. It’s one of the biggest cryptocurrencies and most popular digital assets, so you can buy it on practically any crypto trading platform. And if you own any Ether, there is a good choice of online casinos in Canada where you can use your ETH.

However, while casinos don’t charge fees for banking in crypto, your crypto-wallet probably will. You should also remember that changes in the exchange rate can affect the final payout both positively and negatively. All that having been said, if you’re looking to fund your gaming with your ETH, there are plenty of good options here!

Visit Stake Casino

Author: Martin Hill
Last Update:
Article reviewed: Ethereum
Author Rating: 95%