Online gambling is steadily becoming a highly competitive and viable alternative to land based gambling and rightly so, for many compelling reasons. The ability to gain easy access to various gambling websites found on the internet from any convenient location, real-time tracking of deposits and returns, and ease of withdrawal are just a few to be named. Throw in the advent of cryptocurrency technology into this mix and what you have is an enjoyable, watertight system for partaking in your favourite pastime without all the bother that usually goes along with it. The two major cryptocurrencies that are used for gambling presently are of course the highly popular Bitcoin (the staple face of cryptocurrency) and Ethereum. Let’s’ take a look at the latter and lesser known of the two to get down to the actual Ethereum casino benefits that you can expect to receive and why this particular cryptocurrency might be the best way to go for long-time gambling enthusiasts as well as fresh-faced newbies looking to have a go.
On the outset, it’s important to note that the technology running Bitcoin and Ethereum Casino are similar in terms of their reliance on blockchain technology for record keeping and its algorithmic nature of continuous self-checking. Ethereum however goes further beyond this as it is additionally programmed to track and monitor records and transactions and to deliver outcomes based on predetermined arrangements, i.e. paying out winnings to customers who win against the stipulated odds of a casino. So what exactly are the Ethereum casino benefits that you can expect to be privy to? First things first; Privacy. As mentioned above, when casinos migrated from hotels and shopping malls to the internet, customers were pleased for a variety of reasons, one of which was that they would no longer have to reveal themselves to the casino in person as identification would only need to be provided over the internet which was at least less intrusive than being scrutinized by your dealer in person while handling your physical money and tokens.
Ethereum casino’s take customer privacy one step further in that the only information needed is a working email address for complete registration, with all subsequent transactions taking place via your Ethereum wallet and your casino wallet. This ensures that your banking details and other sensitive personal information are always kept safe and secure. On top of this, Ethereum casino owners do not require any personal documentation to be uploaded, saving you plenty of time and excruciatingly cumbersome scanning misadventures.
Getting on now to the coup de grace’ of the Ethereum casino benefits, another highly attractive aspect of gambling with Ethereum lies in the utilization of a clever piece of algorithmic computer programming know as the ‘Provably Fair’ protocol. This is essentially software that oversees the entire gambling gameplay from front to end and ensures that the outcome of each individual game and game type are always 100% true to the odds in play. This is achieved by said software tracking, monitoring and responding in real-time according to accurate, predetermined mathematical calculations that are for all intents and purposes, flawless in their ability to handle millions of transactions simultaneously. Moreover this data is freely available for customers to view and validate independently themselves to ensure that everything remains entirely above board at all times. The nature of cryptocurrency itself and the blockchain technology it utilizes means that algorithms such as these are completely immune to any form of hacking or otherwise digital infiltration and manipulation, once again guaranteeing the security and integrity of each transaction.
A common point of criticism raised by the ever diminishing camp of crypto casino doubters is oftentimes to dismiss the platform based on the notion that cryptocurrency based online gambling is not sufficiently regulated. This is very much a misnomer as many of the major crypto casino websites are fully licensed and certified, and as such, you are well advised to ensure that you only utilize Ethereum casino websites that have received a full official gaming license. Another undeniable factor among Ethereum casino benefits is the extremely low house edge rates that they are able to offer. This is a direct result of not being subject to the KYC and CDD legislation which regulate fiat casinos, requiring them to absorb expensive credit and debit card fees by card issuers (much of which is ultimately offloaded to the customer). Thus Ethereum Casinos can offer extremely low and competitive house edge rates which all but guarantees a greater chance of a win on the customers hands as compared to gambling at a traditional fiat casino.
As mentioned above, one of the major attractive features of gambling with cryptocurrency is undoubtedly the ease in which transactions can be carried out but also the ease in which funds can be withdrawn. This is possibly the most compelling of the Ethereum casino benefits because as opposed to land based casinos in which you had to deal with an individual teller to validate your winnings and return the funds to you, Ethereum manages this entire process completely autonomously, meaning you receive all monies owed virtually instantaneously. This also quite easily trumps online credit and debit card systems because it does not require communication between the bank and the casino to approve and validate individual transactions, allowing the player to stay in their hotseat and gain gameplay momentum at their desired pace and leisure.
As such, the days of waiting days for banks to approve these transactions are over. The Ethereum blockchain generally take an average of 16 seconds to confirm a particular transaction which essentially implies that you will never have to wait more than a few minutes for your funds to be restored into your digital wallet. As a final cherry on the icing, at no point are customers required to put forward any fees relating to deposits or withdrawals with Ethereum based casinos, other than the blockchain fee. This fee is extremely modest however and never surpasses a few cents at the most.