Thinking About Playing Some Ethereum Blackjack? You’re not the only one!
With the online gambling industry experiencing unprecedented heights, blockchain entities are now looking to get their slice of the ever-growing market share. There are now a plethora of crypto casinos who have established themselves as highly credible alternatives to conventional fiat platforms. There are a significant amount of benefits that these crypto equivalents can offer online players, such as instant withdrawals, provably fair guarantees, zero transaction costs and enhanced house-edges.
As a result, crypto casinos are revolutionizing the player-to-casino relationship. One particular game that seems to be standing out is Ethereum blackjack. Although the gameplay rules do not differ – the underlying fundamentals certainly have. This article will explore what Ethereum blackjack is and why the gambling community are choosing it over traditional fiat casinos.
How can Ethereum help the online casino industry?
The Ethereum blockchain was first launched in 2015 and it became the first cryptocurrency project to facilitate something called a smart contract. A smart contract allows people to enter in to an agreement without needing to trust the other person.
The reason for this is that agreements are based on a pre-defined code that cannot be amended or altered until the contract has been honored. Moreover, the smart contract protocol operates in an autonomous manner, meaning that it can execute itself without needing a third party.
Although the Ethereum smart contract protocol can be implemented in to practically any business setting, it is the online gambling industry that looks set to benefit the most. The reason for this is that for the first time – players no longer need to trust the casino they are using. This is because each and every gaming outcome can be represented on the blockchain, through something called provably fair.
Provably fair is a protocol that allows the general public to view, verify and audit a gambling outcome – such as a hand of blackjack. The technology is supported by the art of cryptography and it cannot be manipulated by the casino.
How does Ethereum blackjack work?
In a nutshell, Ethereum blackjack follows all of the same principles as you would expect to find at your local land-based casino, however instead of being facilitated by fiat currencies such as Dollars or Euros – players instead wager with ETH. There are now a small selection of trusted Ethereum casinos that allow players to easily deposit, stake and withdraw using ETH (as well as other cryptocurrencies such as Bitcoin and Ripple).
When a player first opens an account with their respective blockchain casino, all they need to provide the operator is their email address. This is in stark contrast to the process demanded by fiat casinos, as they ask for a range of intrusive information such as your full name, address and date of birth. On the contrary, playing Ethereum blackjack is a completely anonymous experience.
Moving on, crypto casinos also offer enhanced house-edges due to the fact that their operating costs are significantly lower. They don’t need to install risk management or verification departments, as the blockchain protocol runs without needing an intermediary.
They also don’t need to absorb the fees associated with debit and credit card transactions, nor do they face the threats of player chargebacks. As a result, Ethereum casinos can offer their customers a lower house-edge.
If you are unaware of what a house-edge is, this is the safeguard that casinos install to ensure they remain profitable long-term. For example, the standard house-edge in blackjack is 0.5%, meaning that over the course of time, the casino will make a 0.5% gain over their players.
However, this specific house-edge is based on the individual playing the perfect game and not making irrational decisions. Taking this in to account, the house-edge normally stands at around 2-3%.
Nevertheless, crypto casinos – through the use of provably fair, offer lower house-edges in comparison to their fiat counterparts, which gives the player a greater chance of winning.
How do I play at an Ethereum blackjack casino?
If you like the sound of instant deposits and withdrawals, transparent gameplay, anonymous accounts and lower-house edges, then you could be pondering over your first hand within minutes. As we mentioned earlier, the sign up process involves nothing more than selecting a username and password, as well as supplying your email address in the event that you forget your login credentials.
After this, you simply need to send your ETH coins to your unique casino wallet address. As you probably know, wallet-to-wallet Ethereum transactions average about 16 seconds, which is the same amount of time it takes for the casino to fund your account.
The interesting thing is that some Ethereum casinos state that they do not accept players from certain jurisdictions such as the U.S. However, it remains to be seen why they do this as they do not actually collect any information from the player. Furthermore, not only are Ethereum transactions anonymous, but players can also use a browser such as Tor, which hides the true location of the individual. Although we make the point that it would be difficult for the Ethereum casino to ascertain where the player is based, we are not suggesting that you should do this.
Nevertheless, as soon as your ETH transaction is credited, you can start gambling straight away. There are actually a plethora of Ethereum blackjack variations available online, such as pontoon, multi-hand and surrender. Most crypto casinos also offer new players a welcome package that usually consists of a first deposit matched bonus. For example, if the casino is offering a 100% matched bonus and you deposit 1 ETH, then your starting balance would actually be 2 ETH.
When it comes to withdrawals, the process is also instant. As soon as you request a withdrawal, the platforms that we recommend usually action this within a few minutes. On the other hand, traditional fiat casinos often take a few days before they release a payment as they need to perform various KYC checks on the player. In fact, new players must send in a range of documents such as a passport or driving license, as well as a utility bill or bank statement.
Conclusion – Skies are the limit for blockchain casinos
There can be no denying that the services offered by crypto casinos are significantly more attractive that by those of traditional fiat casinos. Whether its anonymity, speed, trust, transparency or security – crypto casinos give players a substantially more enjoyable gambling experience.
Although blockchain casinos host practically every traditional casino game such as slots, roulette, dice, craps and baccarat – it is Ethereum blackjack that appears to be leading the way. Why reduce your chances of winning by contributing a section of your house-edge back to the casino? Instead, take full advantage of the ever-growing list of Ethereum casinos – many of which are fully regulated.