How Do Ethereum Casinos Work – Everything to Know About ETH Gambling
Learn everything you need to know about Ethereum casinos before you start playing. We will cover how ETH casinos work, how to find a good one to play, and much more.
Complete Guide to Ethereum Casinos – How ETH Casinos Work & What to Know Before Playing
Ethereum casinos are now becoming increasingly popular because of their fast payouts, small fees, and better selection of games.
If you’re looking to get started with Ethereum gambling as well, there are a handful of things that you should know first. And this article will focus on all those things.
We will talk about how Ethereum casinos work, any red flags to be vary of, and all the steps you need to take to find a legit Ethereum casino to play.
Without further ado, let’s get started.
How Do Ethereum Casinos Work?
Ethereum casinos work just like any other Bitcoin or traditional online casino, with the main difference being in the speed of transactions.
While everything else works the same, Ethereum gambling sites tend to offer much faster transactions than traditional casinos, and that’s what makes them so popular.
As a plus, ETH casino sites tend to offer exclusive games that you can only play with Ethereum and no other currency. This makes them unique in a way, but other than that – they operate just like every other online casino out there.
Pros & Cons of Using Ethereum to Gamble Online
Gambling with Ethereum comes with a set of advantages and disadvantages that you should know about. Below are some of them.
Pros of Using Ethereum at Online Casinos
- Fast Payouts: Obviously, the biggest advantage of using Ethereum at online casinos is the speed of payouts. As you can see in this guide, Ethereum’s block time takes 14 seconds, while Bitcoin’s block time takes 10 minutes. This makes Ethereum casinos the fastest-paying ones in the industry.
- Low Fees: Compared to traditional online casinos, you’ll almost never have to cover a fee when transacting with Ethereum. Credit card deposits almost always have a 2.5% fee or higher attached to them, which isn’t the case with ETH deposits at online casinos.
- Anonymity: When you use Ethereum – or any other crypto – to play at online casinos, you’re not sharing any of your private information. All transactions are end-to-end encrypted, which means you can gamble completely anonymously.
Cons of Using Ethereum at Online Casinos
- Volatility: Cryptocurrencies are volatile, and Ethereum is no exception. You should always know that the value of your ETH might decrease while you have it deposited at an online casino. If you want to avoid this risk, you may want to use Tether (USDT).
- Higher Minimum Deposit: This probably has something to do with gas fees, but the minimum deposit for Ethereum at nearly all online casinos is higher. Most of the time, the minimum you can deposit with ETH will be $50. It’s usually $10 for other cryptos.
Obviously, all the pros far outweigh the cons of using Ethereum to gamble. Therefore, the increase in popularity of Ethereum at casino sites doesn’t surprise us.
How to Find Legitimate Ethereum Casinos
If you’re a complete beginner and have never used an online casino before, then we suggest you check out this guide that outlines the best Ethereum casinos, as it will help point you in the right direction.
If you want to do the research yourself, then make sure to keep an eye on the following things.
This goes without saying, but any online casino you want to use must be licensed. Casinos that accept Ethereum are usually licensed in Curacao, and this is a great indication that the casino does things above board.
To know for sure that the ETH casino is licensed, you can visit the Gambling Commission’s website and search for the casino to find its license. An easier way is to look at the casino’s homepage. Licensed casinos will have their license displayed at the bottom of the page.
Renowned software providers only work with legitimate Ethereum casinos. Take a quick look at the software developers who power the games at the casino. If you see names like Betsoft, Platipus, and Endorphina, you can be sure that the games are completely fair.
You’ll want your chosen ETH online casino to have 24/7 customer support available via live chat.
Why? If you encounter an issue, you don’t want to wait for 6 hours just because customer support stops working after midnight. In this day and age, 24/7 support at online casinos is paramount.
Responsible Gambling Tools
Before joining an ETH casino, make sure that it allows players to set deposit limits, spending limits, cool-off periods, and so on. Reputable casinos always offer responsible gambling tools that can help you maintain control over your gambling habits.
So, Are Ethereum Casinos Worth it?
If you care about fast payouts, secure gambling, and an overall advanced and modern gambling experience, then Ethereum casinos are more than worth it.
Of course, it’s important to do your own research before joining one. There are far too many shady sites out there – so stick with the steps in our guide to stay on the safe side.
Thanks for reading!