There are many high-quality, reliable and safe Ethereum casinos. Many of these online casinos have been around for years and are licensed and regulated. You should be wary of brand-new crypto casinos that do not have a track record but more importantly, whether they are licensed. This is not to say that an unlicensed casino is not legit, but it is riskier.
Best Ethereum Casinos
The world of cryptocurrencies is growing at a rapid pace and becoming a part of our online world whether you are aware of it or not. While Bitcoin is still the biggest and most well-known digital currency, there are thousands of other cryptocurrencies with the second-largest cryptocurrency, in terms of market capitalization, being Ethereum. The digital currency of Ethereum is called Ether (ETH) and it is a functional and valuable digital currency that is being adopted by many online casinos and betting sites. This adoption of Ethereum by the iGaming industry as a whole is driving the surge of Ethereum casinos.
Our aim here at BTCasinos is to give you the information you need about the best Ethereum casinos, what they are, how to transact, the advantages and disadvantages, and more. Our in-depth Ethereum casino reviews will guide you in your quest to find the best Ethereum casinos to play at and of course the best Ethereum casino bonuses and promotions.
Ready to start your journey into the exciting world of crypto casinos and in particular Ethereum casinos? Then keep reading!
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What is Ethereum?
Ethereum is a blockchain-based technology that powers the Ethereum network, whereas Ether, aka ETH, is the digital currency of Ethereum. Now, you are probably wondering what the difference is. The Ethereum network is a network of computers (nodes) across the world that facilitate transactions, which don’t necessarily have to be the movement of digital currencies like ETH. This is because Ethereum has the ability to host applications that are referred to as dApps. Ethereum also has a cool feature that Bitcoin doesn’t have, called Smart Contracts, but we won’t delve into that here.
Without going into too much detail about how Ethereum technology works, the most important component is the underlying technology of most cryptocurrencies that is known as the blockchain. Blockchain is a record-keeping system that joins “blocks” of data into a chain in chronological order. This function allows for a distributed ledger (database) of every transaction, which is publicly visible and ensures transparency, integrity, and which keeps Ethereum decentralized. This decentralization means that no single entity can control, edit or manipulate transactions and therefore, this ensures the integrity of the data.
Ethereum is a fast and scalable platform that is being adopted by organizations around the world and is becoming a firm favorite for online casinos and gambling sites. The ability to transact with ETH and move money around the globe almost instantly with lower fees than BTC is why ETH is becoming really popular for gamblers.
Getting started with ETH is easy and all you need is an Ethereum wallet, of which there are many reliable, safe, and free options. Adding ETH to your wallet involves converting regular fiat currency like US dollars, British pounds, euros, etc. through a crypto exchange. However, many Ethereum casinos allow players to purchase ETH directly through their sites with a credit card.
Now that you have a better idea of what Ethereum is, let’s explore what an Ethereum casino is and how you can join the crypto gambling revolution.
What are Ethereum Casinos
In the simplest terms, an Ethereum Casino is an online casino that allows payments and withdrawals of ETH. This means that instead of depositing and withdrawing funds from your casino account using traditional fiat currencies, you use ETH as your preferred currency.
How Ethereum casinos manage your ETH varies from site to site. With some casinos, you will deposit ETH into your account and your player balance is held and displayed in ETH. This also means when you place a wager, it is made in ETH. On the flip side, some Ethereum casinos will convert your ETH deposit into a fiat currency (at the prevailing rate of exchange), for example, euros, and your account balance is held and displayed in euros. When placing your bets, it will be similar to a traditional online casino in that your bets are made with euros. When you want to withdraw from your player account, the casino then converts the euros back to ETH and transfers this ETH to your Ethereum wallet. Many players prefer having their account shown as a fiat currency because it is easier to track than trying to play with ETH. For example, let’s say you are playing a slot and each spin costs €1, it rather easy to know how much you are betting and winning, whereas if you are playing with ETH, you would be betting ~ 0.00031 ETH per spin (based on the current value of ETH being €3,252). So, as you can see, it would be far more comfortable working with euros.
With that all said, you will find that many legacy online casinos that have been around for years that have always used fiat currencies have now added the option to use cryptocurrencies. However, with the growing popularity of crypto, many new casinos have emerged in recent times that are pure crypto casinos and only accept crypto.
Ethereum Casino Games
Now that we know what Ethereum (ETH) and Ethereum casinos are, it’s time to explore what games you can play at an Ethereum casino. The simple answer is pretty much any game you would find at any regular online casino. You will get to enjoy games from all major game developers and many smaller boutique developers too. All of the best Ethereum casinos have games from BetSoft, NetEnt, Microgaming, Red Tiger, Play’n GO, Playtech, Big Time Gaming, and many more.
With access to all these top brands, you will be able to enjoy slots, blackjack, baccarat, roulette, craps, and loads of others. If you enjoy Live Casino, then you will also find these Live Dealer games at your favourite Ethereum casino too. In essence, the currency you play with, be it crypto or fiat is pretty much irrelevant, so you don’t need to be concerned that there will be a limited choice when it comes to Ethereum casino games.
Provably Fair Games use blockchain technology to ensure randomness and fairness, plus every round played is written to the public ledger and can be viewed in near real-time by the player. This transparency and ease of access to the data is driving player confidence and gives peace of mind that their gaming experience is completely fair.
Provably Fair Games
Many gamblers are often concerned about the fairness of casino games. Now, this is not to be confused with the house edge, which is how the casino makes its money. The concern about fair gaming is whether every round played is completely random and fair. All electronic gambling, whether it’s a physical slot or poker machine in a land-based casino or online, has to date, used what is known as a Random Number Generator (RNG). This small piece of software uses an algorithm for every round played to produce a random result. Unfortunately, most casinos do not make any of the data from the RNG available to players, and even if you were to get your hands on these logs, you would still need to audit the results.
Provably Fair Games use blockchain technology to make sure that each round you play is completely random and best of all, you can check this yourself anytime you want in near real-time. While there are only a handful of Provably Fair Games that have been developed so far, you can expect this to grow rapidly in the coming years.
Ethereum Casino Bonuses
Bonuses are synonymous with online casinos, so it goes without saying that you would want Ethereum casino bonuses when playing at a crypto casino. When you sign up with an Ethereum Casino, you can expect to get a deposit match bonus and possibly even Free Spins.
While many of the crypto casinos only offer Bitcoin bonuses when you deposit BTC, there are more and more Ethereum casinos that are offering match bonuses for ETH deposits. The bonuses on offer range from 100% up to 5ETH up to 200% up to 10ETH and more. Some of the casinos also throw in Free Spins as an extra bonus.
While you might be tempted to jump at the biggest Ethereum bonus you see because you want to get the most bang for your Ethereum buck, you really need to look at the fine print. The terms and conditions vary wildly from casino to casino. It is not uncommon to see an Ethereum bonus with a 20x wagering requirement (play-through) and another with a 100x wagering requirement. Another point to consider is what is the maximum winnings from the bonus that you can transfer to your real money balance. Make sure also what the deal is with trying to cash out before meeting the terms because many casinos may cancel your bonus and the winnings if you try to cash out too soon.
Beyond the traditional bonuses mentioned, Ethereum casinos also offer promotions like slots tournaments, prize draws, reload bonuses, and loyalty rewards programs. It will be interesting to see what innovative solutions and unique offerings that crypto casinos will come up with.
Ethereum Casino Deposits
Getting your gaming action started will require you to deposit funds into your Ethereum casino account. If you are new to crypto, it might seem daunting, but there really is nothing to worry about as it is quite simple. You will need an Ethereum wallet with ETH in it. Our recommendation is to sign up with a reputable cryptocurrency exchange where you can purchase ETH. You can also buy ETH through decentralized exchanges, and even some Ethereum casinos offer the option to buy directly through their sites. While you will get an online wallet with the exchange, we suggest setting up your own 3rd party wallet to keep your digital currency secure and you are in full control of it. The most important thing to remember to secure your wallet is to keep your private key confidential and secure. If you lose your private key you will not be able to recover your crypto balance.
Once you have a wallet that is funded, the process of depositing with an Ethereum casino is rather easy.
- Visit the casino cashier when logged into your casino account and select the option to deposit.
- Find the list of supported cryptocurrencies and choose to deposit with Ethereum.
- You will then see a “send to address” which is a long string of letters and numbers, and this is the address that you will transfer ETH to. You will more than likely also see a QR code.
- Open your Ethereum wallet and choose to send funds. You will need to enter the address mentioned above or you can scan the QR code which will auto-populate the address field. Make sure the address entered in your wallet is exactly identical to that shown on the site so that you send ETH to the correct address.
- Enter the amount to send and submit.
- Finally, wait a few minutes for the transaction to be verified by the network and your ETH balance will reflect in your casino account.
Advantages of Ethereum Casinos
Decentralized – Ethereum is not controlled by any single organization or government. Being decentralized provides integrity and allows users to be in full control of their funds.
Safe & Secure – A key characteristic of crypto is the encryption and verification of every transaction which makes it highly secure.
Reliability – Traditional fiat-based payments rely on 3rd parties to process the transactions, however, constantly changing regulation has resulted in these payments often being declined. Crypto payments do not rely on 3rd party processing and funds are sent directly to the casino, making it more reliable.
Anonymity – Your personal information is never associated with your crypto payments, so there is a high level of anonymity. However, depending on the Ethereum casino you choose to play at, you may still be required to complete KYC verification.
Lower Transaction Fees – Crypto payments like ETH have lower fees than traditional bank and wire transfer costs. The fees deducted for each transfer are network fees and they can vary depending on how busy the network is.
Disadvantages of Ethereum Casinos
No Recourse – Once an ETH transaction has been confirmed there is no way to undo it which is why it is vital to always check that you are sending to the correct address. The casino has no control or influence over the Ethereum network.
No Chargebacks – Once a transaction is confirmed it cannot be reversed which is why choosing a reputable Ethereum casino is vital.
Volatile – The value of Ethereum can fluctuate in a very short space of time, so the fiat equivalent of your ETH balance can vary at any time. You could benefit from this, but it could also work against you.
Ethereum Casino FAQs
Are Ethereum casinos a scam?
Which is the best Ethereum Casino?
There is no single best Ethereum Casino, but there are some key factors to consider when choosing a crypto casino. Probably the most important thing is choosing a reputable brand. While there are many unregulated casinos, your best bet is to choose a licensed and regulated casino.
Are Ethereum and crypto a fad?
The simple answer is no. The crypto space has evolved substantially in the last few years and is worth trillions of dollars. Crypto is becoming more and more integral with our online and digital world. Sure, there will be some cryptos that are junk and are a fad, but big players like Bitcoin and Ethereum are well established with a huge user base.
Manuel lives in Argentina and is very passionate about casino games and the adrenaline that the games imply. Manuel has also a burning interest in the crypto market and its opportunities. In his free time, he likes to do extreme sports in nature, such as climbing the mountains of Patagonia and diving in the sea.