Best Ethereum Sports Betting Sites
Ethereum is the second most popular and valuable cryptocurrency online. First launched in 2015, Ethereum is designed to function as a decentralized payment method and a framework for decentralized applications and financial networks.
Ethereum is programmable — it’s possible to use Ethereum to create completely decentralized, provably fair online sports betting sites. Using Ethereum to bet on sports allows users to withdraw winnings instantly, maintain full control over their capital, and access provably fair sports betting sites.
Here’s what you need to know about betting on sports with Ethereum.
What is Ethereum?
Ethereum (ETH) is the second most widely used cryptocurrency after Bitcoin. It offers a wide range of use cases that extend far beyond the simple payment functionality of the Bitcoin network.
Ethereum is a highly easy-to-use cryptocurrency and allows users to send and receive payments nearly instantly. Still, rapid value transfer isn’t the most significant advantage that Ethereum holds over other cryptocurrencies.
Ethereum is programmable — using smart contracts and the Ethereum virtual machine, developers can create decentralized applications and networks. Some of the most prominent decentralized applications on the Ethereum network are DeFi or decentralized finance platforms.
Ethereum has rapidly become one of the most popular cryptocurrencies for sports betting. Ethereum transactions are typically cheaper and faster than Bitcoin transactions, allowing bettors to withdraw or deposit winnings faster.
Provably fair sports Ethereum betting sites allow bettors to verify they’re getting the promised odds. Betting with Ethereum tokens has the added advantage of allowing users to retain full control over their winnings at all times without waiting for lengthy bank transfers or payment processors.
Choosing the Right Ethereum Sports Betting Sites
As the second most widely used cryptocurrency, Ethereum is one of the most commonly accepted cryptocurrencies at crypto sports betting sites. A major advantage of Ethereum sports betting is the high withdrawal and deposit limits — ETH withdrawal limits are typically ten times higher than traditional banking methods.
There are many different ETH sports betting sites online today, so it’s important to assess the Ethereum sports betting site you choose to sign up with on a variety of factors. The licensing and regulation of Ethereum sports betting sites can vary — it’s important to ensure that a crypto sports betting site or Ethereum sportsbook has a strong reputation.
Ethereum transactions can’t be reversed once sent, so it’s essential to only deposit ETH on platforms that have a strong positive reputation for delivering on payouts. The table at the beginning of this article provides a detailed breakdown of the most reputable Ethereum sports betting sites online today.
In addition to considering the reputation and trustworthiness of sports betting sites that accept ETH, it’s also important to check:
- Sign up for promotions and bonuses
- Customer support and reliability
- Payout time frames and reliability
Ethereum Sports Betting Site Basics
Ethereum sports betting sites typically offer the same variety of sports as traditional betting sites. However, the international nature of cryptocurrency means that most ETH sports betting sites provide action on almost any sport imaginable.
It’s possible to bet on major US sports such as NHL, NBA, and MLB with Ethereum on most crypto sports betting sites and soccer, tennis, football, horse racing, and eSports.
In addition to checking the variety of sports and odds offered by an ETH sports betting site, it’s also important to check the security features offered by the platform to ensure your cryptocurrency is handled correctly when wagering.
How to Buy Ethereum
Buying Ethereum is an extremely straightforward process. Virtually every cryptocurrency exchange online today lists Ethereum, but it’s also possible to buy ETH through a variety of simple and easy direct-purchase methods.
As a highly popular cryptocurrency, Ethereum is available through exchanges, peer-to-peer crypto trading platforms, cryptocurrency ATMs, crypto brokerage websites, and decentralized applications — although these can be somewhat complicated to use.
The easiest and fastest way to buy Ethereum to bet online is through a major cryptocurrency exchange. Most major exchanges allow users to create accounts and buy cryptocurrency with fiat currency in minutes. Buying Ethereum from a crypto exchange typically involves:
- Create an account on a cryptocurrency exchange that supports debit, credit card, or fiat bank transfer
- Complete the identity verification process
- Fund your exchange account balance with a bank transfer or credit or debit card — credit card purchases are typically much faster than bank account funding
- Trade fiat currency for Ethereum
Once you’ve purchased Ethereum from a cryptocurrency exchange, the exchange will make your ETH available in a hosted ETH wallet.
How to Deposit Ethereum at Online Sports Betting Sites
Depositing Ethereum on a sports betting site that accepts cryptocurrency is straightforward. All crypto-friendly sports betting platforms provide users with a “wallet” section that lists separate addresses for each of the cryptocurrencies the platform supports.
To deposit Ethereum to a sports betting site, you’ll need to find the wallet address associated with your sports betting site account. Once you’ve located the address in the wallet section of your sports betting site, depositing ETH is as simple as copying the address and pasting it in the destination address when creating a new transaction from your cryptocurrency exchange.
Ethereum transactions are typically completed between 15 seconds and 5 minutes, with transaction fees averaging less than $1.
Some crypto sports betting sites integrate with Metamask, a popular browser extension that adds Ethereum wallet functionality to internet browsers such as Chrome or Firefox. If you prefer to wager on Ethereum sports betting dApps, you’ll need to install the Metamask browser extension and fund the wallet address provided by the extension before wagering.
How do Ethereum Sports Betting Sites Withdrawals Work?
Withdrawing winnings from Ethereum sports betting sites is simple — if you understand how to send an Ethereum transaction to a sports betting site, then you’ll understand how to withdraw ETH from a sports betting site.
When you’re ready to withdraw Ethereum, you’ll only need a destination address to send a transaction from your sports betting site wallet. Many Ethereum users choose to withdraw their winnings to a cryptocurrency exchange and trade it for fiat currency or other cryptocurrencies.
What Sports Can I Bet on with Ethereum?
Ethereum sports betting sites typically cover hundreds of different sports, leagues, and markets. Unlike traditional sports betting sites, which often restrict market access depending on the country they are based in, Ethereum sports betting sites often cover any international sports market imaginable.
Ethereum sports betting sites normally offer ETH football betting, ETH basketball betting, Ethereum horse racing betting, and many other sports — it’s also possible to bet on Esports with Ethereum or on NHL with Ethereum.
How do Ethereum Bonuses and Promotions Work?
Ethereum sports betting sites, much like traditional sports betting sites, offer new bettors a wide range of different bonuses and promotions for signing up. In most cases, these bonuses consist of welcome bonus promos, special promos, or sign-up bonus options.
New account bonus promotions for Ethereum sports betting sites can vary wildly — the table at the beginning of this article lists the best Ethereum sports betting sites according to bonuses, reliability, payout speed, and several other factors. Ethereum sports betting bonuses can include:
- Matched deposit bonuses that match the initial deposit amount of a new account. Most matched deposit bonuses offer a 100% match bonus
- Reload bonuses for making consecutive deposits
- Guaranteed odds or profit boosts for making consecutive in-play bets
Many Ethereum sports betting sites also offer special promos that are only available through bonus code redemption. In addition to bonuses, Ethereum sports betting sites also offer VIP and loyalty programs that provide ongoing rewards for regular bettors.
Using Ethereum to Bet on Sports: What You Need to Know
Ethereum is a straightforward, simple cryptocurrency. There are a number of important factors to keep in mind when using Ethereum to bet online, however.
The most important factor to consider when using ETH to bet is the cost of Ethereum transactions. ETH transactions are dictated by “Gas” prices, which are used, among other purposes, to determine the priority of a transaction.
When the Ethereum network is under heavy stress — such as short periods of volatility in the crypto market — Gas prices skyrocket, which can cause an individual Ethereum transaction to incur extremely high transaction fees, it’s not uncommon to see ETH transaction fees of over $50 at times of high demand, so it’s important to check the cost of your ETH transactions before sending carefully.
In addition to transaction fees, it’s also important to keep the following factors in mind when using Ethereum to bet on sports online:
- Anonymity: Most exchanges require users to provide ID and KYC information when buying Ethereum. All ETH transactions can be easily traced, so ETH is not anonymous
- Deposit fees: Some Ethereum sports betting sites may charge a small deposit fee for incoming ETH transactions. It’s important to check this fee before making deposits
- Trust and safety: Ethereum transactions can’t be reversed — only trust your Ethereum to reputable sports betting sites. Coin Clarity provides a curated list of reliable ETH sports betting sites at the beginning of this article
Frequently Asked Questions:
Q: Are Ethereum sports betting sites safe?
A: There are many different Ethereum sports betting sites. It’s important to only bet on Ethereum sportsbooks that have a strong reputation and are recommended by reliable, authoritative sites
Q: Are Ethereum transactions expensive?
A: Ethereum transaction costs are, in most cases, less than $1 — but it’s important to check the cost of a transaction before executing as heavy network stress can cause transaction prices to increase
Q: What is the minimum deposit for Ethereum sports betting sites?
A: Most Ethereum sports betting sites don’t have a minimum ETH deposit amount
Key Takeaways
Ethereum is a fast, reliable, and secure cryptocurrency that is highly popular as a deposit and withdrawal method for cryptocurrency sports betting sites. The low cost of ETH transactions combined with the ease with which Ethereum can be exchanged for USD, EUR, or GBP and other fiat currencies makes ETH one of the best cryptos for online sports betting.
