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Ethereum Betting Review

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As a cryptocurrency, Ethereum has grown tremendously in appeal over the years. In fact, the coin is next only to Bitcoin in terms of popularity of use. Among many other applications, digital currency has found use in the online sports betting market. Indeed, Ethereum betting sites are constantly growing by the count.

In this post, you will get to know about the safety and legal status of Ethereum-based sports betting in the US. You’ll discover the deposit process as well as the pros and cons of betting with Ethereum. Finally, you’ll uncover some leading alternatives to Ethereum on betting sites. Read on for a complete review of Ethereum sports betting sites.

Can I legally bet with Ethereum at betting sites in the US?

Yes, you can legally bet with Ethereum at betting sites in the US. In fact, avid sports bettors love using Ethereum for their transaction needs on betting sites. So, you can take advantage of all the speed and security features of using the currency. Most notably, your transactions are anonymous, as with using any crypto method. You can also get access to exclusive games if you choose to try online casinos with Ethereum.

Is Ethereum betting sites in the US safe to play at?

Yes, Ethereum betting sites in the US are safe to play at. In fact, Ethereum sports betting sites bring the very best in terms of security and anonymity features to bettors. For starters, there is no record of transactions except on the Ethereum blockchain. Moreover, this recording takes place only when funds actually move from one wallet address to another. For instance, this happens when a bettor chooses to make a deposit.

Secondly, there is no involvement of a third party in the transaction. Last, you do not need to provide your personal information at any point during the transaction. You only need to use the number you receive upon signing up for a wallet. If needed, you can change that too after making a transaction.

How to make a deposit with Ethereum on a sportsbook

Making a deposit with Ethereum on a sportsbook is a detailed but simple process. You must observe the steps below for a smooth deposit.

  1. Find an Ethereum sports betting site – You can find a properly curated list of Ethereum sportsbooks here on this page. Browse the list and then pick a betting site that best meets your requirements. You can review different criteria, such as bonuses, features, and mobile app available to inform your choice of a sportsbook.
  2. Sign up for an account – Next, you need to create your sportsbook account using your personal data and contact details. So, input your name, address, phone number, email, and date of birth to sign up for a gambling account. You may also need to provide the final 4 digits of your SSN (social security number) for anti-money laundering reasons.
  3. Choose Ethereum as the preferred payment method – Now it’s time to make your first deposit using Ethereum. Simply head to the cashier’s section and then click deposit. Now choose Ethereum from the list of supported payment methods on the screen.
  4. Follow the instructions on the screen – Note that you need to have a valid Ethereum wallet before you can make a deposit. Firstly, enter your deposit value in USD. The sportsbook will then create an ETH address for you to make the transfer. You can now use your preferred Ethereum wallet or exchange to make the payment.
  5. Confirm the payment – Once you enter your deposit value and confirm, the sportsbook will send a request to your Ethereum account. From there, you can simply approve the transfer as detailed in the previous step. Shortly after this, the amount will reflect in your wagering account in US dollars.
  6. Start playing – You are now all ready to place your first wager. But it is also important to verify your gambling account as and when prompted. Make sure to claim any welcome bonus as well.

Pros of betting on sports with Ethereum in the USA

Using Ethereum on betting sites comes with lots of upsides. Below, you can review the important ones briefly.

  • Safe payment method – All your transactions are recorded on the blockchain only, leaving no traces. Besides that, no third party can access your data. The government also cannot manipulate the currency.
  • Wide variety of sports and games – Besides granting you top-notch safety and speed features, Ethereum lets you enjoy many unique sports and games as well. Further, these include provably fair games, affording the utmost in terms of fair odds and pricing.
  • Easy to make deposits and withdrawals – The process of creating an account and making transactions on Ethereum betting sites is an exceedingly convenient one. You only need to set up your Ethereum account once, and you can make easy and quick payments on the go.
  • More and more accepted at US betting sites – With so many pros to using the payment method, betting enthusiasts are increasing the demand for the currency on sportsbooks. Unsurprisingly, the betting sites are also following suit, given the market need.

The downsides of using Ethereum at US sports betting sites

Even as Ethereum is extremely attractive for use on betting sites, there are a few cons to it. Below, you can briefly catch up on the main ones.

  • Not traceable – The flip side to the sheer anonymity of using Ethereum is that the transactions are untraceable. So, if the betting site in question does not have an equally robust backend to support the payments, your data and funds may be at risk.
  • Not accepted by all betting sites in the US yet – Even though Ethereum has grown massively in acclaim, including on betting sites, many sportsbooks still do not offer support for the payment method. Unfortunately, this includes the likes of several leading sportsbooks as well.

Alternative cryptocurrencies you can use on US sportsbooks

While Ethereum is a great choice of payment method for online sportsbooks, it is not the only one. Below, you will find the leading crypto alternatives to Ethereum on betting sites.

  • Bitcoin – It is the most famous crypto right now. You can use Bitcoin for seamless transactions and at low fees. The currency further invites frequent comparisons to digital gold as a store of value. Bitcoin rests on the proof of work (PoW) model and has been powering payments on the internet for more than a decade now. Betting sites with Bitcoin are also quite numerous. Overall, Bitcoin presents a safe avenue to start betting online with crypto.
  • Litecoin – This is pure crypto in the sense that it primarily intends to facilitate payments over the internet. The currency is not just easy and safe to use but also extremely economical. Inspired by Bitcoin, Litecoin basically reworks the idea of cheap cryptos. Indeed, it brings transaction costs impressively close to nil. The currency runs on the Litecoin native blockchain and has robust security measures in place.
  • Dogecoin – It identifies itself as people’s crypto. The currency has been in use since 2013. It now also features its own blockchain. Dogecoin is extremely community oriented and mimics the properties of the internet more generally. In fact, the coin is an interesting combination of mimetic design and blockchain tech. Overall, using Dogecoin is fun and quick, given the coin aims to serve the largest possible user base over the internet.

FAQ

How old do I need to be to play at Ethereum sports betting sites in the US?

You need to be a minimum of 21 years old to be able to play at Ethereum sports betting sites in the US. This is because the legal betting age does not depend on your choice of payment method. Most states where online sports betting is legal to set the betting age at 21. Some states, however, will let you wager as soon as you are 18 years old. Furthermore, you will need to be within your state borders in order to place your bets.

Can I get any welcome bonuses at sportsbooks with Ethereum in the USA?

Yes, you can get welcome bonuses at sportsbooks with Ethereum in the USA. In fact, most sportsbooks with support for the Ethereum payment method will gladly hand out welcome bonuses. This is no different from bonus eligibility on other leading payment methods, including cards and e-wallets. Moreover, gambling sites, and in particular online casinos, may provide exclusive bonuses for crypto-based deposits. This is especially true of crypto-focused betting sites.

Are Ethereum deposits reversible?

No, Ethereum deposits are unfortunately not reversible. Due to the nature of the crypto platforms, there is little room for contingencies like chargebacks, anyway. But still, researchers are looking for ways to introduce the element of reversibility into Ethereum transactions. The good news meanwhile is that your deposits are largely immune to getting rejected. This is because, unlike the case with conventional payment methods, Ethereum betting sites do not have to rely on third parties to process transfers.