Best Ethereum Casinos in 2022 | ETH Guide
Ethereum is one of the biggest coins in cryptocasinos around the world. Second only to Bitcoin, its widespread acceptance, smart contracts, privacy, and security advantages have switched many a casino player over to the crypto world. Read on to find out more about Ethereum casinos!
- Top Ethereum Casino Sites for 2022
- Ethereum Value
- What Is Ethereum, Anyway?
- How Does Ethereum Work?
- Ethereum Casinos
- Ethereum Casino Games
- How Do You Buy Ethereum?
- Ethereum Casinos and Security
- Ethereum Casinos and Customer Support
- Pros & Cons of Ethereum Online Casinos
- Ethereum Casino Alternatives
- Ethereum Casinos Summary
- Ethereum Casinos FAQs
Top Ethereum Casino Sites for 2022
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What Is Ethereum, Anyway?
Ethereum is one of the most popular and widespread cryptocurrencies currently out there. It’s a financial system with increased privacy, security, transparency, payment speed, and a well-maintained website.
It's even surpassed Bitcoin in the number of transactions! That’s from over 900 different cryptocurrencies – so that’s saying something. Ethereum’s excellent qualities have meant that many Ethereum casinos have opened since its introduction in 2015.
An Ethereum casino is simply an online casino that accepts Ether or ETH (the official Ethereum currency) as a payment option.
Often, an Ethereum online casino will also support other cryptocurrencies such as Bitcoin, Litecoin, Dogecoin, and any number of the 900 different ones we brushed over above.
The vast majority of Bitcoin casinos and other crypto casinos worth their salt will support ETH within their payment methods section. Check out some of our choice recommendations for the best Ethereum casino websites offering the best bonuses!
How Does Ethereum Work?
Launched in 2014, Ethereum was developed by software engineers who had worked on Bitcoin, only they set out to make something better. Ethereum is a decentralised, blockchain-based financial system.
What this means is that all transactions using the official Ethereum tender, Ether (or ETH), are recorded on a constantly growing list (a ledger) on a blockchain, which is a form of peer-to-peer network.
A peer-to-peer network is the basis for all true cryptocurrencies, and simply means that each computer or ‘node’ on the network holds part of the information alongside all of the other nodes.
This contributes to a public list or ‘ledger’ of transactions which is held by everyone, and as such, is verifiable by everyone.
In simpler words, it just means that cryptocurrency deposits and withdrawals are generally safer and more transparent than traditional online payment transactions.
What is a Decentralised Platform?
Just as the name suggests, it simply means that all the information about the transactions taking place on the ETH platform is not held by one central authority, party, or bank. Instead, as we touched upon previously, all of the information is held by everyone in small chunks, forming the peer-to-peer network described above.
So what does this mean for Ethereum casino sites?
While highly anonymous, as no real-world identities need to be revealed on the blockchain, Ethereum and other cryptocurrencies also remain highly transparent. This means that users can be sure that their payments both to and from an Ethereum casino did in fact happen, with a publicly accessible ledger to prove it.
All of this while maintaining your anonymity – at least financially!
What is the Difference Between Ethereum and Bitcoin?
Ethereum and Bitcoin are both built on the same basic premise, with a few key differences.
Ethereum has a shorter block time than Bitcoin. Blocks are sections of the public ledger we mentioned earlier, which are double-checked or ‘verified’ by network nodes completing complex math problems.
A shorter block time means that your transactions at the best Ethereum casinos will be quicker than with other cryptocurrencies!
We’re talking a 15-second block time for ETH (on average) compared to 10 minutes for BTC – quite the difference! Ethereum also employs a technology called Smart Contracts, for enhanced security. But we’ll get into what those are below.
Apart from some advantages compared to other cryptocurrencies, an Ethereum casino offers advantages over regular online casinos too!
The Advantages of Ethereum Compared to Traditional Payment Options
We've compiled a list for you.
Ethereum Smart Contracts Explained
An Ethereum casino also benefits from the technology’s use of Smart Contracts.
Smart Contracts are bits of code that are executed once an agreement takes place between two wallets. They allow for a transparent and verifiable transaction to take place.
Think of smart contracts like a vending machine. The vending machine’s code obligates it to dispense the food or drink once it verifies that the correct amount of money for the chosen item has been inserted.
Ethereum smart contracts are similar, ensuring that your first deposit for your favourite casino games lands safely in your account! It’s a good thing the payment is all-digital too, as there’s no chance of your packet of crisps getting stuck against the glass of the machine!
Ethereum Casino Games
While you won’t be limited to specific casino games when you’re playing at your favourite Ethereum casinos, once you’ve got some ETH on your hands, you do have access to games outside the crypto casino.
Games such as CryptoKitties are innovative in that they allow players to curate their own unique digital pet. CryptoKitties also lets you buy, sell and trade other digital pets!
All built on the Ethereum blockchain platform, it was one of the first pieces of software to use the blockchain itself as a form of entertainment.
You’ll also find games such as Crash Gambling, which is quite popular with crypto players. Players try to guess the best time to cash out on an increasing multiplier before it ‘crashes’.
Ethereum gambling isn’t limited to these few select games, though.
As we mentioned earlier, many full-fledged casinos with a full games repertoire accept ETH as a payment option. This means that Ethereum casino games could be anything that you already know and love from the online gambling world, including:
- Slot games
- Live casino games, including blackjack and roulette
- Table games
- Sports betting
That means any of the best crypto gambling sites will let you have your share of Ethereum slots and live dealer games!
Of course, if you’re interested in Ethereum gambling on sports betting, for example, you would search out a casino site that offers that function. This is where casino reviews such as ours come in handy.
Ethereum Casino Bonuses: Free Spins, Welcome Bonus, Deposit Bonus
Just like an online traditional casino, apart from having all your favorite casino games, you’ll also find a welcome bonus, deposit bonuses, and other bonuses at an Ethereum casino.
Most cryptocurrency casinos also have a higher average RTP for the casino site. Payment methods such as ETH and other cryptocurrencies have fewer processing fees for the casino associated with them.
This means that deposits and withdrawals cost less for the casino to undertake. As a result, casinos can afford to be a little more generous on average with their payouts. A win-win for both players and casinos alike!
How Do You Buy Ethereum?
Of course, to do any Ethereum gambling, you’re going to need to buy some of it.
But how exactly do you even do that?
To buy ETH, you’re going to need to use a crypto exchange or contract of difference (CFD) broker.
It’s worth noting that many cryptocurrency exchanges require you to provide identifying documentation before you can exchange your local currency into ETH.
Once this is done, though, you can go on to your favourite online casinos which support Ethereum gambling and have at it!
Wallets allow users to interact with the ETH funds in their account. The wallet will store the user’s private key securely, which is needed to sign any transaction.
In simple terms, wallets are tools that allow you to interact with your ETH.
Unlike the wallet in your trouser pocket, they don’t hold any of your account’s funds themselves, which means you can swap them out anytime.
The Ethereum website has a great wallets page that helps you choose a wallet based on the features you’re looking for.
Ethereum Casinos and Security
Is Ethereum secure? Everything has vulnerabilities, and Ethereum, crypto and any other payment method is not immune to them.
Of course, we advise you to gamble responsibly – not just by keeping to your limits, but also by sticking to casinos which are fully licensed by a reputable authority within the gambling industry.
This means organisations such as the Malta Gaming Authority or the Curaçao Government, among others.
Can Ethereum Be Hacked?
Although you might have heard of a few high-profile cryptocurrency hacks, these are usually done on the exchanges rather than the cryptocurrency itself.
Of course, there’s always the 51% attack.
What’s a 51% attack? This is a hypothetical scenario in which a hacker gains control of 51%, or more than half, of the computers (nodes) contributing to the public ledger.
Ethereum Casinos and Customer Support
Whether we’re talking specifically about Ethereum gambling sites, or casino sites in general, good customer support is a definite must.
There are a couple of things you should look out for, which are generally indicators of the best Ethereum casinos, or a good online casino in general!
- 24/7 Customer Support
While perhaps a 24/7 availability isn’t strictly necessary, make sure the support hours are reasonably long and at convenient times to your play style.
- Over-the-Phone Live Agent Support
An online casino should be able to provide a way for you to contact a real human being about any issues you’re facing. If not phone support, there should at least be a live chat function without any bots.
- A Well-Written FAQ Section
Whether it’s a minor issue with slot games, live dealer games, or just a quick question about the welcome bonus or free spins, the FAQ section should be easy to access and feature answers to all of the common questions a player might have.
Pros & Cons of Ethereum Online Casinos
As with anything, even a top Ethereum casino has some drawbacks inherent to the ETH financial system. Luckily, this isn’t anything to do with having an extensive game library or generous bonuses – plenty of those to go around.
Let’s take a look at the pros and cons of online casino gambling using Ethereum:
- Faster deposits and withdrawals than both traditional and Bitcoin casinos
- Highly secure and private payment method
- Better payout percentage on most cryptocurrency casinos
- Lower transactional fees compared to other cryptocurrencies
- Could be slightly complicated to set up
- Cryptocurrency exchanges are vulnerable to cyber attacks
- The value of cryptocurrencies is volatile
Ethereum Casino Alternatives
Of course, if Ethereum isn’t quite your thing, and you’d like to try out some other cryptocurrencies, there are plenty of options to choose from:
Ethereum Casinos Summary
Phew! We’re sure that if you weren’t up to speed with cryptocurrencies, this must’ve been a jam-packed article for you. We really hope it’s answered all of your questions about how Ethereum works, and has provided recommendations for a great Ethereum casino for you.
Check out our FAQ section below if you’ve got any lingering questions:
Ethereum Casinos FAQs
7BitCasino is one of the best Ethereum gambling sites out there. Check out our full list above for more recommendations!
Yes! While we’d recommend checking your local laws about cryptocurrencies, in general, gambling with ETH is completely legal.
After buying some ETH through an exchange, you can then deposit it using your crypto wallet at the best ETH casinos!
A casino that accepts Ethereum is good for all the usual reasons casinos are good. It should be licensed, have a great selection of games, offer good support and have a super welcome bonus. Check out our recommendations for that and more!
Bitcoin and Ethereum are both digital and secure cryptocurrencies. However, Ethereum offers quicker transactions and the smart contracts feature over the older Bitcoin.
Yes! You can play slots along with any other games at the best casinos which support Ethereum.
Yes! Subject to conditions such as wagering requirements, which are present on traditional online casinos, ETH bonuses can be withdrawn either in ETH or in a fiat currency, depending on what the casino supports.
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