About Ethereum Casinos
You will no doubt have heard of bitcoin and cryptocurrency casinos in general. At a time when cryptocurrencies are all the rage and the online casino world is rapidly undergoing so many changes, how could you not have? What you may not have heard about though, is that there are now also Ethereum casinos. In many ways, they are very similar to bitcoin casinos, and they are cryptocurrency casinos, in a manner of speaking. However, there are a few things which make them stand out from the pack. Find out what they are in this article. Before that, though, a disclaimer, of sorts.
The best Ethereum Casinos
Key things to know before you play at Ethereum casinos
Having a basic knowledge of Ethereum will help you when starting out playing at Ethereum casinos. Of course, Ethereum is a cryptocurrency just like Bitcoin, however, it has it’s own unique properties as well. Ethereum is more complex than Bitcoin. It can operate “smart contracts” which means to say that it can execute scripts for tasks when certain conditions are met. The cryptocurrency the Ethereum network runs on is called Ether, and it works slightly differently to Bitcoin.
Reading up on Ethereum, how it works and how you can buy it is essential before playing at Ethereum casinos. Since that is why you found your way to this page, we’ll assume you’ve got a basic knowledge of the cryptocurrency. If not, you do need to read up on it. But with that out of the way, let’s continue by looking at Ethereum casinos.
All about Ethereum casinos
A number of major cryptocurrency casinos will accept more than one currency. The same is true of Ethereum casinos. There are casinos which only deal in Ethereum, although these are a rare breed right now. However, if you’re playing at a cryptocurrency casino, the chances are fair that they will also accept Ethereum.
Ethereum casino gaming has taken off lately, primarily due to the smart contracts we discussed a moment ago. It has revolutionised the way players and casinos operate. As there is no longer any need to trust a casino to pay you, everybody wins. Here is how smart contract cryptocurrency betting at Ethereum casinos can work.
Depositing and withdrawing with Ethereum
Ethereum casinos will operate directly on the Ethereum blockchain. Instead of depositing into a casino’s wallet, you can use the Ethereum network to deposit directly into a smart contract. The smart contract will then determine whether the requirements for a payout have been met, and if so, they will pay you immediately.
One of perks of depositing and withdrawing with Ether at Ethereum casinos is that you no longer have to trust the casino. At no point does the casino hold your cash. If you lose, you lose your cash, if you win, the smart contract handles the payments. Because those payments use an open source code, the casino can’t tamper with them either. Moreover, any cash outs you land are instant. A casino cannot add withdrawals caps, transaction fees or delay withdrawal times. The smart contract ensures that prizes are paid out immediately.
Depositing at ETH (Ethereum) casinos is a doddle if you know what you’re doing. It’s virtually identical to bitcoin. You can purchase Ether from an online exchange and use your wallet to transfer to the Ethereum wallet. The casino should have an Ethereum wallet address which begins “0x”, just to ensure that you’re on the right track. From there on out, everything is just the same as it would be at any online casino.
Ethereum casino games
Ethereum casinos aren’t really any different to other cryptocurrency casinos in terms of what games they offer. Many top Ethereum casinos are powered by leading casino software developers, such as Net Entertainment.
The types of games you can find at these casinos include slots galore, as well as table games, video poker, instant win games, and even live dealer casino games. Special cryptocurrency games may also appear at such sites. These have been carefully designed by providers specialising in cryptocurrencies like Ethereum, to help you get the most of your experience. Admittedly, when it comes to the latter, there aren’t that many out there.
Ethereum casino bonuses and promotions
Ethereum casinos aren’t short of bonuses or promotions, either. Many will come with the same kinds of offers and deals you can find at other cryptocurrency casinos. If you were to look at one big name casino which accepts Ether (ETH) deposits, such as BitStarz, you would get a good understanding of what is there for you to claim.
There are no deposit bonuses offering free spins, match deposit bonuses double cash offers, slot tournaments, table game competitions, re-deposit deals, and even loyalty bonus offers and VIP clubs. From a promotional point of view, there is precious little difference between Ethereum casinos and other top casino sites.
Are there any cons to playing at Ethereum casinos?
If you aren’t fully in the know about the cryptocurrency and what it can do for you, we wouldn’t recommend getting started at a casino which only accepts Ethereum. There is a learning curve involved. However, there are plenty of top sites, such as BitStarz which accept multiple cryptocurrencies (including Ethereum), providing you with a nice playground to get started with.
There is one small chink in the armour when it comes to betting at Ethereum casinos. Bets use at least a block on the chain, and that means that players are likely to have to wait around 15 seconds before the outcome of a bet has been decided. The larger the bet, the longer the wait may be. On the upside, this a problem which is being worked on; so, in the very near future, this may not be an issue. If that turns out to be the case, then there will be virtually no downsides to placing bets at Ethereum casinos.
Should I play at Ethereum casinos?
Provided you have a grasp of the basics of Ethereum (it helps if you can compare it with what you know about Bitcoin) then the opportunities for playing at Ethereum casinos may be too good for you to miss out on. Again, just make sure you do your homework and read up on the specifics of the cryptocurrency first, and you will find Ethereum casinos one of the fastest, most free, and fairest casino gambling experiences you can have online.
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