Ethereum Betting: Best Sites, How-To, and Tips for 2024

What is Ethereum?

Ethereum is a decentralized blockchain-based platform founded in 2015 by Vitalik Buterin and Joe Lubin. Its native cryptocurrency is known as Ether, while the token is referred to as ETH. While Ethereum has many similarities with Bitcoin, it was designed to be more scalable, programmable, decentralized, and secure.

Unlike Bitcoin, which was created to be digital money, Ethereum was designed to be a global and decentralized platform that extends its attributes to a wide range of applications. This means that developers can build and run applications on the Ethereum Blockchain.

Applications running on the Ethereum blockchain are built using smart contracts, which are executed automatically when certain terms and conditions are met. Ethereum is also an open-source project that is not operated by an individual. This means that anyone can run an Ethereum node as long as they have an internet connection.

How to Choose the Best Ethereum Sportsbook

Selecting a reputable Ethereum bookmaker is crucial for both newcomers and experienced bettors. The right betting site ensures competitive betting odds, fast payouts, secure transactions, and valuable bonuses, all of which enhance your online betting experience.

When choosing the best sportsbook with Ethereum, you should pay attention to these key aspects:

Payment Speed

A fast payout betting site allows you to withdraw your winnings anytime you want. Although Ethereum offers fast transactions, you need to check the sportsbook's withdrawal timeframe. The best Ethereum betting site should process crypto withdrawals instantly. If verification is needed, then it shouldn't take more than 24 hours.

Payment Security

A sportsbook with robust security features ensures that players’ funds are safe all the time. Check if the bookmaker protects financial transactions using the latest 128-bit or 256-bit SLL technologies.

Banking Fees

Low processing fees allow you to keep more of your money. While you have no control over Ethereum processing fees, you need to check the fees that an Ethereum sportsbook charges on deposits and withdrawals. You should prioritize a betting site with zero or little processing fees.

Withdrawal Limits

The best ETH betting site should set withdrawal limits with casual players and high rollers in mind. High withdrawals are ideal for high rollers who make huge deposits and withdrawals. On the other hand, low withdrawal limits are ideal for budget bettors who make small deposits and withdrawals. A betting site with withdrawal limits of 0.01ETH-10ETH is good for all player types.

Ethereum Betting Bonuses

Sports Betting Bonuses and promotions allow you to bet on sports without spending your real money. To this end, you should consider joining a bookie with welcome offers such as no deposit bonuses, free bets, and match deposit bonuses. It’s also important you check the availability of regular offers such as high roller bonuses, referral bonuses, reload bonuses, and cashback bonuses.

Variety of Sports

A wide range of sports and betting markets ensures an exciting and engaging betting experience. Ensure the sportsbook offers odds on popular sports like Baseball, Basketball, Football, Golf, Tennis, Horse Racing, and E-Sports. Don't forget to review betting markets and their odds to ensure they are valuable.

How to Bet with Ethereum

Ethereum is synonymous with simplicity. If you are new to the world of crypto betting, you won't experience difficulties when making fast, secure, and anonymous Ethereum transactions. Here are the simple steps to betting with ETH:

Step 1: Purchase Ethereum

To purchase Ethereum, you first need to find a trusted cryptocurrency exchange and create an account. Among the most trusted cryptocurrency exchanges include Crypto.com, Binance, and Coinbase. These exchanges require you to create an account by submitting details like full name, email address, country of origin, and password.

The cryptocurrency exchanges also require you to upload a passport or government-issued ID to verify your account. Once your account is verified, you can fund it via accepted payment methods, including e-wallets and credit/debit cards.

Step 2: Sign Up at an Ethereum Betting Site

CryptoGamble has already found the best Ethereum betting sites on your behalf. We have reviewed the sites for safety and security and can assure you they are 100% legit.

Select the betting site you want and create an account using the below steps:

1. Head to the homepage by clicking on our link
2. Navigate to the top of the homepage and click on the Register or Sign Up button. Complete the registration form by entering details such as full name, date of birth, phone number, and email address.
3. Read and agree to the terms and conditions. You will also confirm that you have reached the legal age to gamble.
4. Verify your gaming account. Most sportsbooks only require you to verify the email or phone number used.

Step 3: Deposit Ethereum Funds

To make a deposit, head to the deposit page and select Ethereum as your preferred payment method. The sportsbook will provide you with an address that you will copy into your Ethereum wallet account. Be careful when copying the address, as any incorrect address could lead to the loss of funds. Log in to your Ethereum wallet account and copy and paste the receiver’s address. After that, enter the amount of ETH you want to transfer and authorize the transactions. Your Ethereum funds should be credited to your gaming account within 0-10 minutes.

Step 4: Place Your Bets

Once you fund your gaming account, head to the sports betting section and pick the sports you want. The best Ethereum sports betting sites featured on this page cover sports such as Football, Horse Racing, and Basketball. After selecting the sport, choose the betting market you want to bet on. Sports such as Football offer plenty of betting markets, including match winners, totals, correct scores, and double chance. Enter the amount you want to stake and press the "Place Bet" button.

Step 5: Withdraw Your Winnings

The withdrawal process is pretty simple. Head to the withdrawal page and select Ethereum as your preferred payment method. After that, enter the withdrawal amount and copy the Ethereum address where you want to receive your ETH. Make sure the Ethereum wallet address is correct to avoid losing funds.

Once you submit the withdrawal request, you should receive your ETH within 0-10 minutes. However, it may take longer if the sportsbook has its own withdrawal timeframe.

Advantages of Ethereum Betting

Ethereum has emerged as one of the best payment methods for sports bettors, offering faster transactions and enhanced anonymity. It's also one of the most secure and cost-effective cryptocurrencies you will ever come across. Here are the five reasons why you should use Ethereum for sports betting:

Low Transaction Costs

Ethereum transactions come with lower processing fees, making it a great choice for sports betting. While the transaction fees depend on many factors, including network traffic and demand for transaction verification, they can be as low as $0.5 on average.

Faster Transactions

Ethereum's proof of work algorithm is capable of processing up to 15 transactions per second. The new ETH2.0 proof of stake algorithm is even better, processing up to 100,000 transactions per second. With this, you can rest assured of making instant deposits and near-instant withdrawals.

Privacy and Anonymity

Ethereum is a darling for many sports bettors thanks to the highest level of privacy and anonymity it provides. Unlike traditional banking methods, Ethereum doesn't require personal or banking details to make transactions. All you need is an Ethereum wallet address to complete a transaction. Besides, it's a decentralized blockchain that is not owned by an individual.

High Security

Ethereum is an open-source project that is not monitored by a central authority. This means there are no third parties watching your transactions. Ethereum transactions are also irreversible, eliminating chances of chargebacks.

Ethereum Specific Bonuses

Ethereum sports betting sites offer exclusive bonuses for bettors making deposits using Ethereum. Some offer match deposit bonuses, allowing you to get extra ETH for every Ethereum deposit you make.

Key Features to Look for in Ethereum Betting Sites

With thousands of ETH sportsbooks, choosing the best site can be challenging. However, you can narrow down your list by considering key features that ensure a safe and enjoyable betting experience. You need to focus on features such as:

Bonuses and Promotions

Bonuses and promotions can significantly boost your wagering bankroll, allowing you to bet with free money. Make sure the sportsbook treats you to generous welcome bonuses such as free bets and match deposit bonuses. On top of that, check if the site offers ongoing promotions such as cashback bonuses, reload bonuses and referral bonuses.

Range of Sports and Games

A wide range of sports and games allows you to diversify your bets for a chance to win a fortune. Check the availability of popular sports such as Tennis, Football, Basketball, Horse Racing, Rugby, and E-Sports. Additionally, go through the betting markets to ensure there are enough to bet on.

Payment Speed and Fees

The payment speed plays a big role in determining how soon you will get your winnings. If you want fast payouts, then you should join an Ethereum betting platform with the shortest processing timeframes. It’s also important you check transaction costs to ensure you keep more of your funds.

Customer Support

Excellent customer support service is vital for a smooth betting experience. To this end, check if the bookmaker offers 24/7 customer support via live chat, phone, and email. You can also reach out to support agents to make sure they are responsive and can solve both technical and non-technical questions.

Licensing and Security

Proper licensing plays a big role in ensuring fairness and a safe betting environment. Trusted licensing authorities such as MGA and Curacao ensure the integrity of the betting platform by addressing complaints raised by players. Security features such as 128-SSL are also important in ensuring safe and secure financial transactions.

Ethereum Deposits and Withdrawals

As mentioned earlier, the process of making Ethereum deposits and withdrawals is straightforward. You can follow the below steps and start making fast, secure, anonymous, low-cost Ethereum transactions:

How to Deposit with Ethereum

1. Create an Ethereum wallet: An Ethereum wallet will help you store your ETH. You can create one with trusted crypto wallets such as Exodus and Coinbase.
2. Purchase ETH: You can buy ETH tokes from cryptocurrency exchanges such as Binance and Crypto.com.
3. Log in to your betting account: Visit the cashier section and pick Ethereum as a deposit method.
4. Transfer Ethereum funds: On the deposit page, copy the receiver's address provided by the Ethereum betting website. This is important, and you should ensure the address is correct to avoid losing funds. Head to your Ethereum wallet and copy and paste the receiver's address. After that, enter the amount of ETH you want to transfer and authorize the transaction.

How to Withdraw with Ethereum

1. Log in to your betting account, head to the withdrawal page, and select Ethereum as a withdrawal method.
2. Enter the amount of ETH tokens you want to withdraw and copy the Ethereum address where you want to receive funds.
3. Submit the withdrawal request. Note that some Ethereum sports betting sites may ask for account verification when making the first withdrawal.
4. Wait for your funds. This should take 0-10 minutes.

Ethereum VS Other Cryptocurrencies for Sports Betting

Ethereum is the second largest cryptocurrency after Bitcoin. Here is how it compares to other popular cryptocurrencies regarding transaction speeds, transaction costs, security, and volatility.

• Transaction speed: Ethereum's proof of work algorithm used to process up to 15 transactions per second. This is better than Bitcoin, which processes up to 7 transactions. Ethereum claims that its new ETH proof of stake algorithm can process up to 100,000 transactions per second.
• Transaction costs: Ethereum's transaction fees depend on many factors, such as network traffic, but can be as low as $0.5. Bitcoin, on the other hand, charges around $0.9 per transaction. However, Ethereum processing fees are higher than those of Tron, which charges as low as $0.000005.
• Security and privacy: Ethereum is an open-source project designed to offer the highest level of privacy and anonymity. In fact, it's decentralized, meaning there is no censorship by third parties.
• Availability and acceptance: With over 275 million unique ETH wallets, Ethereum is by far one of the most widely accepted cryptocurrencies globally.
• Market volatility: Although Ethereum is volatile, it’s relatively stable compared to other cryptocurrencies such as Dogecoin.

Popular Sports to Bet on with Ethereum

The best Ethereum sports betting platforms cover dozens of sports and hundreds of betting markets. Whether you like traditional sports such as Horse Racing or modern sporting events like e-sports, the sportsbooks have got you covered.

Here are the 5 popular sports you can bet on with Ethereum:

Football

Football, also known as Soccer, remains the most popular sport, attracting billions of fans globally. Our featured ETH bookies allow you to wager on major leagues and tournaments, including the Bundesliga, The English Premier League, La Liga, and the World Cup. They also offer you hundreds of Football betting markets, including match winners, correct scores, totals, handicaps, and double chance.

Basketball

Basketball is loved by millions of fans worldwide thanks to its fast-paced nature. Our ETH betting sites have lined up popular Basketball leagues and tournaments, including the NBA League, ABA League, and Euro League. The sportsbooks also provide a range of Basketball markets such as match winners, totals, and point spread.

Tennis

Tennis may not be as popular as Football and Basketball, but it has a huge fan base across the world. Be ready to enjoy the thrill of betting on major Tennis tournaments, including the US Open, the Australian Open, the French Open, and Wimbledon. From moneylines to handicaps, totals, and prop bets, Tennis has a betting market for everyone.

Horse Racing

Horse Racing has been dominating the gambling scene for centuries, and it remains popular among crypto bettors to date. You can bet on popular races such as the Epsom Derby, Belmont Stakes, Kentucky Derby, and Preakness Stakes. There is also a variety of bets to place at Ethereum betting sites, including win bets, exacta, trifecta, and quinella.

E-Sports

E-sports, also known as electronic sports, have gained immense popularity in the past few years thanks to their engaging gameplay. Our featured eSports betting sites offer odds on top e-sports games and events like League of Legends, Dota 2, Overwatch, Valorant, Fortnite, and Call of Duty.

Ethereum Betting Bonuses

The best ETH betting sites offer generous crypto bonuses to attract new bettors and retain existing ones. From match deposit bonuses to free bets, cashback bonuses, and high roller bonuses, the sportsbooks have something for every bettor.

Match Deposit Bonuses

Most sportsbooks offer a welcome package, which usually takes the form of a match deposit bonus. As the name implies, a match deposit bonus matches your first few deposits by a percentage, giving you extra ETH to bet with. The bonus can double or triple your ETH deposit, depending on the bookmaker you join. For example, a 100% match deposit bonus will double your deposit.

No Deposit Bonus

A no deposit bonus is a rare but most appealing bonus. The bonus doesn’t require you to make a qualifying deposit. You only need to register with an Ethereum betting site to be eligible. While a no deposit bonus is usually small, it’s a great way to start your betting adventure without risking your own money.

Free Bets

A free bet is another generous incentive that lets you place bets without putting your money on the line. Some sportsbooks offer free bets as part of the welcome package, while others award it as an ongoing promotion. Moreover, some sportsbooks may require you to place the first bet, and if you don't win, they offer you a free bet.

Cashback Bonus

ETH betting sites offer cashback bonuses as part of ongoing promotions for existing customers. This type of bonus returns part of the funds lost during a wagering period. For example, some bookmakers may return 10% of your daily losses. A cashback bonus is a great way to keep betting even after losing.

High Roller Bonuses

A high roller bonus is a special bonus for bettors who make huge deposits. This bonus can significantly boost your bankroll, allowing you to place huge bets for a chance to win a fortune.

All the Ethereum betting bonuses we have mentioned have terms and conditions. If you want to make the most out of them, you must comply with all the terms. Most of the bonuses have expiry dates, minimum qualifying deposits, wagering requirements, maximum win, and eligible sports.

Expert Tips for Betting at Ethereum Sportsbooks

Ethereum betting involves huge risks, and no winning is guaranteed. However, you can maximize your chances of winning with the following tips:

Tip 1: Bankroll Management

Before you start your betting adventure, you need to come up with a wagering budget. You need to decide the amount of ETH you want to wager in a given period, like a day, a week, or a month. Coming up with a budget and sticking to it can avoid huge losses.

Tip 2: Research Sports and Teams

The worst mistake you can make as a bettor is to bet on sports that you don't know. To avoid huge losses, you first need to research how a particular sport works. If it's Football, ensure you know how football odds work and understand the different football betting markets and the different football teams you can bet on.

Tip 3: Take Advantage of Bonuses and Promotions

Sportsbooks offer different types of incentives for new and existing bettors. If you are a newcomer, claim the available welcome bonuses and start exploring the platform with free money. If you are an existing bettor, visit the promotions page frequently to ensure you don't miss out on ongoing promotions.

Tip 4: Diversify Your Bets

One exciting strategy you can apply as a crypto bettor is to diversify your bets. Diversifying your bets includes betting on different sports and teams instead of a single outcome. That way, you not only spread risks but also increase your chances of winning big.

Tip 5: Stay Updated with the Latest Sports News and Trends

Knowing the latest sports news and trends can help you make informed bets. For example, knowing the latest transfers in Football can help you decide which team to bet on.

Tip 6: Play Responsibly

Observing responsible gambling practices is vital for a safe and enjoyable betting experience. Setting limits such as deposit limits and wager limits can help in avoiding huge losses. Furthermore, it’s important you take a break or seek help if you think betting is getting out of hand.

Pros and Cons of Ethereum Betting

Since 2014, Ethereum has been taking the sports betting industry by storm, and it's not hard to see why. Ethereum's appeal lies in its focus on offering secure and anonymous transactions thanks to its decentralized network. It's also popular for offering secure and low-cost transactions.

Like other digital currencies, Ethereum has its fair share of drawbacks. It’s volatile, meaning your ETH may lose value within a short time. Ethereum transactions are also irreversible, meaning you will lose funds if you copy the wrong address.

Pros:

• Faster transactions
• Low processing fees
• Anonymous transactions
• High level of security
• Ethereum-specific bonuses

Cons:

• Not regulated by any central authority
• Ethereum transactions are irreversible
• Ethereum is volatile

FAQs

Is Betting with Ethereum safe?

Yes, Ethereum is a safe and secure payment method that doesn’t require you to enter financial details. With an Ethereum address, you can make deposits on Ethereum betting sites and enjoy playing anonymously.

How do I bet with Ethereum at online sportsbooks?

The process is straightforward. You first need to find a reputable ETH betting site, register an account, and transfer ETH. After that, head to the sports betting section, choose a sport and betting market to bet on, and enter the bet amount. Click on the "Place Bet" button and wait for the outcome.

Are Ethereum deposits and withdrawals instant?

Yes, Ethereum payments are processed instantly. However, it can take a few minutes or hours, depending on the sportsbooks' processing timeframes.

Where can I find the best Ethereum betting sites?

The CryptoGamble team has already listed all the latest Ethereum betting sites. Our featured bookmakers are the best in terms of safety, bonuses, betting odds, and payouts.

Which sports can I bet on with ETH?

You can use your ETH to bet on popular sports like Football, Tennis, Horse Racing, Basketball, Baseball, Volleyball, and E-Sports.