Best Ethereum Casinos: The Complete Guide to Gambling with ETH

What is Ethereum and How Does it Work?

Ethereum is a decentralized, open-source blockchain that uses Ether (ETH) as its coin. It’s a platform for many decentralized apps (dApps) and smart contracts that run exactly as coded with no downtime, no third party interference or fraud.
Ethereum was proposed in 2013 by programmer Vitalik Buterin and launched in 2015 after successful crowdfunding. Since then it’s become the second largest cryptocurrency by market cap and trading volume.
The Ethereum blockchain uses a proof-of-work consensus like Bitcoin but is moving to a proof-of-stake consensus. Transactions on Ethereum are verified by nodes on the network before being added to a block on the chain.
Unlike Bitcoin’s focus on peer-to-peer digital cash, Ethereum is a platform for decentralized apps. Developers can create and deploy complex smart contracts that self-execute when certain conditions are met. Ethereum-based dApps can be used in gaming, finance, identity management, supply chain, fundraising, governance voting and many other industries.

Here are some of the main benefits:

• Decentralised – The Ethereum network is public and not controlled by any one entity or government. Censorship resistant.
• Transparent – All transactions on the Ethereum blockchain are public. Full transparency.
• Secure – Ethereum uses advanced cryptography and economic incentives to validate transactions and secure the network.
• Programmable – Smart contract applications are much more possible than with Bitcoin.
• Proven track record – Ethereum has been running for over 7 years now. So we know it works.

Why Use Ethereum for Online Gambling?

Here are the reasons why Ethereum is great for online casinos, sportsbooks, poker sites and other gambling platforms:

• Fast cashouts – With Ethereum you can get your withdrawals in minutes not days. No banks or middlemen involved.
• Low fees – Transferring ETH has much lower fees than credit cards or wire transfers.
• More privacy – Gambling with ETH requires less personal info to casinos.
• Bigger bonuses – Ethereum casinos offer bigger deposit bonuses, cashback and other promotions to attract users.
• Global access – Ethereum’s global, decentralized nature allows users to gamble online even in countries where fiat gambling is restricted.
• Trusted gameplay – Smart contracts enable trusted, provably fair gaming where players can verify game integrity.

ETH Gambling Legality

The legality of online gambling and cryptocurrencies varies by country and jurisdiction. In many places using decentralized cryptocurrencies like ETH can be a grey area to get around laws against online casinos.

Some key points on ETH gambling legality:

• In the US online gambling is illegal under the Federal Wire Act but the laws specifically target fiat transactions and licensed gambling businesses. This creates a grey area for individuals to potentially gamble online using ETH in their personal capacity in many states. But they do so at their own risk.
• For Canada, Ethereum gambling seems to be in a legal grey area as well, not explicitly legal or illegal. Canadians can use offshore, unregulated crypto casinos without breaking the law – again in a personal capacity.
• In the UK you need to be licensed by the UK Gambling Commission to legally provide gambling services to residents. Unlicensed, offshore crypto casinos fall outside the Commission’s remit. UK residents use them at their own risk with no protection.
• In Australia, online gambling is banned so using Ethereum or any currency on casino sites as an Aussie is risky and can result in penalties. But enforcement is unclear.
• In countries like Sweden and Netherlands using unlicensed crypto casinos is illegal – residents can get in trouble if caught gambling at unapproved sites.
• In Germany, Ethereum gambling seems to be in a grey area with no clear laws or prohibitions in place yet.

Given the legal complexity, it’s best to check your local laws before deciding to gamble online with Ethereum. Offshore, unlicensed crypto casinos fall outside traditional gambling regulations but come with risks of enforcement uncertainty, no consumer protection and no guarantee of fair play.

Getting Ethereum for Gambling

To get started gambling with ETH you need to actually get some Ether tokens. Here are the main ways to buy Ethereum:

• Cryptocurrency exchanges – These platforms allow you to buy ETH with fiat currencies like USD or other cryptocurrencies like Bitcoin. Top exchanges are Coinbase, Kraken, Gemini, Binance. You can also use decentralized exchanges like Uniswap.
• OTC brokers – Companies like Coinmama broker large over the counter crypto trades between institutional buyers and sellers. Good for buying large amounts of ETH.
• Crypto ATMs – Bitcoin ATMs in most major cities allow you to buy crypto with cash and your public wallet address. ATMs usually support buying ETH.
• P2P marketplaces – These peer to peer platforms like LocalCryptos connect buyers and sellers directly for crypto transactions. Pay via cash, wire transfer, PayPal and other methods.
• Mining Ethereum – You can mine ETH by validating transactions on the network using hardware. But this requires advanced technical skills.
• Crypto airdrops/hard forks – New project airdrops and ETH hard forks like Ethereum Classic may give you free ETH tokens through forks or events.
• Work/gigs for ETH – Some remote jobs or gigs pay out in crypto including ETH. Options are limited though.
• ETH faucets – These faucet sites driprelease small amounts of ETH for free after completing certain tasks, so you can try out crypto. Amounts are very small though.Once you buy or get ETH through any of the above you will need an Ethereum wallet to store the tokens before transferring them to your casino account address to play.

Ethereum Gambling Tips & Strategies

Follow these tips and you’ll be rolling with a smooth and profitable ETH gambling experience:

1. Research Ethereum casinos before signing up – compare games, bonuses, reviews and support between sites to find the best one.
2. Claim the casino welcome bonus when signing up for more funds to play with. Top sites offer matched deposit bonuses up to 5 ETH.
3. Play the demo versions of games first to learn mechanics and strategy before betting ETH.
4. Manage your bankroll by betting low percentages of your stack per spin or hand. This will keep your funds.
5. For casino table games use the optimal blackjack strategy charts and learn the techniques of successful advantage players to reduce the house edge when possible.
6. Look for provably fair casinos – these prove game fairness mathematically so you can see the game is fair when playing dice, roulette or other chance games.
7. For high variance slots bet smaller than on low variance games.
8. Don’t leave funds in hot casino wallets – withdraw to your own wallet after play for safety.
9. By following these tips you’ll stretch your ETH, have more fun spinning slots or playing table games and win!

Conclusion

Ethereum is a great way to play on online casinos due to its speed, cost, privacy, accessibility and trusted, secure properties. Top Ethereum casinos have thousands of games, such as up to 5 ETH welcome bonuses and ultra fast cashouts.

By looking at game variety, bonuses, support, licensing, and of course, ETH compatibility, you will find the perfect Ethereum casino for you. Legalities vary by jurisdiction but in many places, you can play at offshore crypto casinos in your personal capacity.

With more and more gambling sites accepting ETH payments, Ethereum is becoming the second best cryptocurrency for iGaming after Bitcoin. Signing up at an Ethereum casino takes just minutes and you can enjoy the benefits of decentralized, anonymous gambling with ETH as your currency.

So what are you waiting for? Check out the top Ethereum casinos, get some ETH and start spinning those slots or betting at the tables! Ethereum lets you gamble online without borders.