Ethereum is a new form of payment favoured by many people but which betting sites allow this as a payment method and could it work for you?
Thanks to the gambling industry always being quick to embrace new technologies and adapt, many traditional and new betting sites now accept this payment type.
Find out more today about Ethereum betting sites.
- 1 Best Ethereum Betting Sites in May 2022
- 2 What Is Ethereum?
- 3 Ethereum Digital Currency for Bets
- 4 Place Online Bets with Ethereum
- 5 Gambling with Ethereum in the UK
- 6 Ethereum Sports Betting Wallet
- 7 How to Bet Using Ethereum
- 8 Ethereum Gambling Bonuses
- 9 Ethereum Horse Betting Sites
- 10 How Do I Use Ethereum for Online Gambling?
- 11 How Do I Deposit with Ethereum in a Betting Account?
- 12 Are There Any Fees for Using Ethereum for Betting?
- 13 Popular Questions
- 14 Summary of Ethereum Sports Betting
- 15 Other Horse Race Betting Payment Methods
Best Ethereum Betting Sites in May 2022
From our research this is a list of the best Ethereum betting sites in May 2022:
18+ New Customers opt in, deposit and bet £5 at odds 2.00+ on Horse Racing within 7 days of registration; excludes cashed out bets. Get 3x £10 Free Bets, set events only at odds 2.00+. Free Bets expire in 7 days. Card payments only. T&Cs Apply, see below. | begambleaware.org | Please gamble responsiblyFull T&C's Apply
New UK customers only. Register using the promo code BETFRED60, deposit and place first bet of £10+ on Sports (cumulative Evens+) within 7 days of registration. First bet must be on Sports. £20 in Free Bets to be used on Sports, £10 in Free Bets to be used on Lotto and 50 Free Spins (20p per spin) credited within 48 hours of bet settlement. Further £20 in Free Bets credited 5 days after settlement. Bonuses have a 7-day expiry. Payment restrictions apply. SMS verification and/or Proof of I.D and address may be required.Full T&C's Apply
18+ New UK+IRE customers. PayPal and certain deposit and bet types excluded. Min first £5 bet within 14 days of account reg at min odds 1/2 = 4 x £5 free bets valid for 7 days on sports, stake not returned, restrictions apply.Full T&C's Apply
New customers only – Minimum deposit of £10 using deposit code 30F – A qualifying bet is a ‘real money’ stake of at least £10 placed on any sports market – Minimum odds of 1/2 (1.5) – Free bets credited upon qualifying bet settlement and expire after 7 days – Free bet stakes not included in returns – Deposit method and withdrawal restrictions apply.Full T&C's Apply
New customers using Promo code H30 only, Min £10/€10 stake, min odds 1/2, free bets paid as 2 x £15/€15, free bets credited after settlement of first qualifying bet, free bets will expire 30 days after the qualifying bet is placed, payment method/player/country restrictions apply.Full T&C's Apply
18+ New UK+IRE customers. Paypal and certain deposit types and bet types excluded. Min £5 bet within 14 days of account reg at min odds 1/2 = 4 x £5 free bets. Free bets valid for 7 days on sports, stake not returned, restrictions apply.Full T&C's Apply
18+ begambleaware.org. New customers only. Min deposit £10. Money back as bonus if first racing bet loses. Wagering: sportsbook 3x at min. odds of 1.40 (2/5), casino 50x. Sports bonus must be wagered before using the casino bonus. Bonus expires 7 days after opt-in. Full T&Cs apply. #AdFull T&C's Apply
18+ New customers only. Opt in and place a £10 qualifying bet on Horse Racing at odds of 2.00+ within 7 days of registering; excludes cashed out bets. Receive 3x £10 Horse Racing Free Bets, valid on set events only at odds 2.00+. Plus, a £10 Slot Bonus, selected games, wager 20x to withdraw a max of £250. Bonuses expire in 7 days. Card payments only. T&Cs Apply, see below. Please Gamble Responsibly.Full T&C's Apply
18+, Welcome Bonus: New Players only, 1st Deposit, Min Deposit: £10, max £15 bonus, valid for 14 days, bets must be placed at a min. odds of 1/1 (2.00) or greater and be settled within 14 days of placement. System bets no eligible.Full T&C's Apply
Min Deposit £10 and bet on sports. Full T&Cs apply.Full T&C's Apply
New UK customers only. £10 Min Deposit. 100% matched free bet on your first deposit of £10. 1 x wagering at odds of 1.75+ to unlock Free Bets. Debit Card deposits only. This offer is valid for 7 days from your new account being registered. 18+. BeGambleAware.org. Bet The Responsible Way.Full T&C's Apply
What Is Ethereum?
Ethereum is a type of public and open-source blockchain-based decentralized and distributed computing platform that is supported by millions of blockchain transactional machines and is used to pay for goods and services.
The operating system features smart contracts or scripting functionality. However, Ethereum is different from Bitcoin as it uses accounts and balances known as state transitions.
The cryptocurrency used on the Ethereum blockchain is called Ether, and you can use it to gamble online.
Ethereum Digital Currency for Bets
Trends come and go, but the latest trend of Etherreum looks as though it’s here for the long haul.
Ethereum is a form of cryptocurrency and has been making waves for quite some time now.
The online betting site industry kept their usual eagle-eye on the situation and when virtual currencies started to really take off, they introduced them as an alternative form of payment. As a result, Ethereum betting sites are becoming more commonplace every single day.
It makes perfect sense, too.
Betting sites and Ethereum were meant for each other for the following reasons;
- It offers the punter the opportunity to make bets without entering any personal information – all transactions are completely anonymous which many punters prefer.
- Because the transactions use the blockchain method of distributing payments, it allows for complete transparency.
- Ethereum transactions happen very quickly and with little or no fees attached to them. This means you can withdraw your winnings quickly and keep as much of it in your pocket as possible.
Place Online Bets with Ethereum
Ethereum betting sites have caught on so quickly that there is a constant new influx of them. Just as one site seems to have everything, a new one pops up offering something new and takes its place at the top.
Just because Ethereum isn’t a physical currency, it doesn’t mean that you still can’t win big. Place your bet and if it comes in you’ll be paid as you would do with fiat money.
You will be able to use it for loads of things including betting on horses online and loads more popular sports. The cryptocurrency has one other trick up its sleeve; its value.
Virtual currencies are famous for the volatility of their prices; they fluctuate constantly. If a bet you have placed comes in and then the value of Ethereum suddenly goes through the roof, so does the amount of your winnings. It’s never guaranteed but it’s always nice when it happens.
The best Ethereum betting sites will have everything that you can do on a betting site that doesn’t accept Ethereum payments.
- Place bets on a variety of sports, outcomes of TV events, news items etc.
- Place bets midway through an event.
- Deposit and withdraw any time you like
- Bet on the move with your phone or tablet
Try placing a bet with an Ethereum betting site and you’ll see just how easy it is. If you have used these websites before you will probably have made PayPal, or used a number of standard deposit methods.
Gambling with Ethereum in the UK
Gambling with Ethereum in the UK is just like betting with your card, Paypal, cash or any other method of physical currency. It is a deregulated virtual currency. This simply means that it is not owned by any Government or treasury, but by the people who use it.
There are no restrictions imposed on what you can bet on and you will be able to do it without ever giving out any personal details. Because the transactions are anonymous, you can place bets safe in the knowledge that your personal details are safe without compromising your enjoyment of placing bets.
Also, the currency allows for bets to be placed anywhere in the world in record time and no delays on payouts. You can also take a look at Ethereum slots sites to find out more about these if you want to have a go at the latest games.
Ethereum Sports Betting Wallet
Of course, one of the most popular things to bet on is sports. There are more online sportsbooks now than ever before and competition between sites is stronger than ever too.
Sportsbooks have started accepting digital currencies like this because they don’t want to get left behind once the currency becomes mainstream (as many predict it will do).
A quick search shows that Sportsbooks accepting Ethereum are plentiful and they offer the same features and benefits that you would expect when betting on any sporting event.
- The ability to bet on the minutiae, such as how long the National Anthem will take to sing before the game starts.
- The ability to cash out at any point.
- The ability to bet during the game.
- Bet on the result/first scorer/winning margin etc.
- Place bets on multiple place finishes.
- Welcome bonuses and rewards.
How to Bet Using Ethereum
Knowing how to bet using Ethereum is as easy as knowing how to bet with physical currency. All you need is an online wallet, some currency and an Ethereum betting site that you want to use.
You’ll need to set yourself up with an account with the bookmaker you wish to use. This is standard practice for any online bookies, whether they accept the cryptocurrency or not. The next thing you need is an online wallet. These can be downloaded for free and they are what you will use to keep your digital coins in.
Then, you need to buy some Ethereum to play with. Find a respected broker and purchase them using fiat money, then transfer your coins into your wallet.
Move the amount of currency that you want to bet with into your bookmaker account and that’s the process complete. You then bet on whatever you like with however much you like.
It is no different than placing a bet with physical money. Many online gambling fans have found similar methods such as Edgeless casino payment which can be used for various gaming websites.
You will be able to deposit or subtract funds at any time. All you need to remember is to keep your wallet password safe so you can access it. Happy betting!
Ethereum Gambling Bonuses
Like all gambling sites, those that accept digital currencies rely on bonuses to keep their punters interested and loyal. This can range from;
- Recommend a friend bonuses
- Free bets
- Match or increase your first deposit
And more besides. These Ethereum gambling bonuses in May 2022 will vary from site to betting site but they are all trying to outdo each other.
A quick look around will show you what the best available offers are and you should take full advantage of them. They will give you loads of opportunities to explore just how well Ethereum betting can work for you.
Ethereum Horse Betting Sites
Using Ethereum in online sport betting sites is increasingly becoming popular as cryptocurrencies can be great for quick deposits and withdrawals for gamblers. Ethereum uses blockchain technology like Bitcoin to provide a user-friendly, secure, and anonymous method of making online transactions.
Online sites, especially Ethereum Horse betting sites, are beginning to become well-respected as they offer many benefits over their rival banking options, which many players have been using as their deposit method.
Many of the best betting sites now accept this payment method.
How Do I Use Ethereum for Online Gambling?
You can do a few things to get and use Ether.
- Mining: It’s mostly meant for the tech-savvy. So, perhaps it’s the hardest way to get Ether as so much computer power and costs are involved in processing contracts and network security.
According to Ethereum.org, you need to have a minimum of 1+ GB of RAM on every GPU as well as install C++ Etherminer.
- Trading BTC for ETH: You can also get Ether by trading your Bitcoin for a known and trusted person’s Ether, else you may lose your crypto.
- Use Fiat Currency to Purchase Ether: Using old-fashioned American dollars to buy Ether also works. Many exchanges offer this service, for example, US-based Poloniex or Kraken. Also, head to the platform, Coinbase to buy Ether and store it there if you want.
- Sell other things and receive payment in Ether: This is another simple method to get and use on Ether for Euthereum horse betting sites.
- Keep an ETH Wallet: It helps you store your Ether safely like with Bitcoin’s private keys, which holds your coins, and losing it is equal to losing everything.
You can also store in a hardware wallet, which is like a USB drive that comes with additional safety features.
Even a paper wallet (paper and pen) though old-fashioned works well too as it can hardly be stolen and can’t be hacked. A web wallet should be your last option as the risk of companies being hacked is possible. Having your private keys like on Coinbase is better as they are stored in a private server.
How Do I Deposit with Ethereum in a Betting Account?
It’s not a problematic process depositing ETH to Ethereum horse betting sites if you already have an ETH wallet. Check out the simple steps you need to follow to collect and start gambling:
- To make a deposit, head to the gambling site, find the deposit button, and click it. Then select Ether or Ethereum as the payment method to use.
- By itself, the site will generate the address you’re going to use. Now, copy the said address.
- Paste the address into your ETH wallet. After that, fill in the amount you want to deposit.
- Click the “submit” button.
- In case you’re using your phone, a lot of gambling sites will make the QR code available for you to scan instead. So, you won’t have to bother copying and pasting the address or going through a manual entry process.
The withdrawal process works in reverse. You click the withdrawal button and then select Ethereum to cash out. Next, enter the address of your wallet how much you want to cash out. This may require a security code as well. It’s quite simple!
Note that the deposit process varies such that some sites may offer something slightly different. This is particularly applicable in terms of processing timeframes, limits in deposit/withdrawal amounts as well as fees.
Are There Any Fees for Using Ethereum for Betting?
When it comes to transaction fees for Ethereum, there are varying differences in the way gambling sites operate depending on factors like storage (gas) needs, bandwidth, and computing complexity.
Transaction fees for Ether in horse betting sites are relatively lower on average compared to Bitcoin. For example, the median fee levied on Ether is $0.33, unlike the $23 fee for Bitcoin. And generally, ETH payouts, which are processed within or in less than 24 hours, incur no charges like all other cryptocurrency payouts.
Ethereum’s rise in value and credibility has even challenged Bitcoin as it has ranked itself among the leading cryptocurrencies. No wonder ETH gambling sites are increasing in number, size, and benefits. The developments underway will potentially reshape gambling as the present real money centralized model is being threatened by Ethereum’s easy and 15-second speed capacity.
What makes Ethereum sportsbook unique?
Ethereum sportsbook betting is unique as it is safe and you don’t need to enter personal information. For this reason, it is a popular payment method for online betting in the UK.
How Do I Deposit with Ethereum into a Sports Betting Account?
To deposit from Ethereum into a sports betting account you have to:
- Find the deposit button, and click it.
- Select Ether or Ethereum as the payment method.
- By itself, the site will generate the address you’re going to use. Now, copy the address.
- Paste the address into your ETH wallet.
- Fill in the amount you want to deposit.
- Click the “submit” button.
- In case you’re using your phone, a lot of gambling sites will make the QR code available for you to scan instead.
- The monies will be transferred.
Summary of Ethereum Sports Betting
Ethereum is a new form of payment that many are choosing for their online betting.
Our guide has explored this payment and currency type so you can make an informed decision about if this is suitable for you.
Please remember to always gamble responsibly however you choose to pay.
Other Horse Race Betting Payment Methods
Our team has reviewed other betting payment methods for horse race betting. Check out our latest posts below updated on May 2022 :
We hope you have found our Ethereum sports betting guide useful.