Ethereum casinos allows users to gamble on a wide-variety of games, with deposits and withdrawals facilitated by ETH. However, in what started as an innovative experiment has since turned in to a highly crowded marketplace. As a result, there are now dozens of online casinos that specialize purely in the facilitation of Ethereum gambling. Although competition is ultimately a good thing – it can make it difficult to ascertain where to find the best Ethereum casino.
In this brief opinion piece, we will guide you through the process – meaning that by the end of reading it, you will be able to make an informed decision as to which Ethereum casino best suits your needs. This will include some fundamental requirements, such as choosing a platform that is in receipt of a full gaming license, as well as those that guarantee the fairness of their games through a provably fair protocol.
After those requirements have been met, you can then decide what factors are important to you. For example, are you looking for an Ethereum casino that offers instant deposits and withdrawals, or are you looking for a particular game such as Dice? Let’s start by making sure that we understand just what we mean by an Ethereum casino.
What is an Ethereum casino?
In a nutshell, an Ethereum casino is an online gambling platform that facilitate deposits and withdrawals via ETH. Although the underlying principles are similar to that of a real-world casino – insofar that users gamble with the aim of winning money, there are some fundamental differences.
First and foremost, Ethereum casinos do not have any relationship with fiat currencies such as U.S. dollars or Euros – meaning that users do not have to reveal their identity when opening an account. Moreover, this also means that there are no requirements to upload ID documents such as a passport. As a result, the best Ethereum casino platforms allow their users to gamble anonymously.
Secondly – and again in relation to their non-relationship with fiat currency, the best Ethereum casino platforms have the ability to facilitate instant deposits and withdrawals. Although traditional online casinos usually credit deposits instantly, it is the withdrawal process that often frustrates players.
The reason for this is that players often have to wait up to a week before they receive their winnings, due to the fact that fiat casinos must manually authenticate a withdrawal request. Once you add in the time it takes for the fiat casino to verify the player’s KYC documents, as well as the 3-5 day average it takes for card issuers to credit a payment, the process is highly inefficient.
Nevertheless, as none of these regulatory burdens exist at crypto platforms, the best Ethereum casinos can process a withdrawal request instantly. As a result, you should not wait longer than 10 minutes to receive your winnings in your personal Ethereum wallet.
What are the minimum requirements for choosing the best Ethereum casino?
Although there are a number of factors that you need to consider prior to opening an account at an Ethereum casino, there are two fundamental specificities that must be met. Firstly, you should ensure that the platform is regulated by a national license issuer. Although crypto casinos are not legally required to do this (because they do not deal with fiat currency), the best Ethereum casinos are in receipt of a full license. This is really important because it adds an additional layer of oversight, essentially ensuring that the casino retains its integrity.
Imagine how it would look if the casino subsequently lost their gambling license? Their reputation would effectively be lost overnight. To clarify, the fact that an Ethereum casino has a license doesn’t mean that you need to identify yourself. On the contrary, it means that the casino follows a stringent set of rules, such as keeping player funds separate from their primary working capital account.
The second fundamental requirement that you should consider prior to opening an account is whether or not the platform in question has a provably fair protocol installed. In a nutshell, provably fair is a cryptographically-generated tool that guarantees the fairness of each game. For example, when playing blackjack online, the provably fair protocol transparently displays the underlying seed that was used to generate the outcome of the game. In this sense, it is impossible for the casino to cheat.
The best Ethereum casino platforms currently in the market will all have provably fair installed. If they don’t – then you should avoid them like the plague!
Where can I find the best Ethereum casinos?
We have reviewed the vast majority of notable Ethereum casino websites that are currently offering their services. Although there are now close to a hundred different platforms in operation, we have narrowed our list down to just five casinos. Moreover, if sports betting is more your thing and you want to do it using ETH, then we have identified four Ethereum sportsbooks.
All of these platforms allow you to do the following things.
- Instant deposits and withdrawals
- Gamble anonymously – No need to provide any personal information
- All games fully supported by provably fair
- Regulated and in full receipt of a gaming license
- Also support other cryptocurrencies such as Bitcoin, Ripple and Bitcoin Cash
Some of the best Ethereum casino operators that we recommend also offer highly lucrative welcome bonuses. This means that when you open an account for the first time, the casino will match your first deposit up to a certain amount. For example, FortuneJack offer a total welcome package amounting to 5 BTC (ETH equivalent). Alternatively, BitStarz offer a 100% matched bonus up to 1 BTC (ETH equivalent). It is well worth taking full advantage of such offers as they are reserved purely for first time customers. Although it might sound too good to be true, this is common practice in the online gambling industry as a way to attract new players to their platform.
Ultimately, regardless of which of the best Ethereum casino platforms you decide to use – BE LUCKY!