What is an Ethereum Casino?
Generally speaking, any online casino that supports Ethereum as a banking method and accepts payments in Ether (ETH) can be classified as an Ethereum casino. Ethereum casinos, like Bitcoin casinos, fall under the category of crypto casinos.
Whilst there are some crypto casinos that exclusively only accept cryptocurrencies, there are others that accept both crypto payments and conventional online payment instruments such as credit cards, e-wallets, bank wire transfers, etc. The bottom line is pretty straightforward – any casino that recognizes and accepts Ether is called an Ethereum casino.
If you are not already familiar with cryptocurrencies, this naturally raises the question – what is Ethereum? Ethereum is a decentralized blockchain network and the native token on the network is referred to as Ether (ETH). The ETH token is the currency of the network and facilitates transactions and thereby trades, gaming, buying and selling NFTs and various other applications.
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Coming back to Ethereum casinos, here are a few things you should know about them:
- Ethereum casinos generally offer casino games of various types and some of these games could be exclusive crypto games
- Trusted Ethereum casinos will use a random number generator algorithm to offer provably fair results for all of their games
- Players using Ethereum to deposit at online casinos may be privy to exclusive Ethereum bonuses
- Ethereum deposits and withdrawals are not only speedy but also inexpensive compared to conventional payment methods
- Players can play their favourite games for real money with a high degree of anonymity and privacy by using Ether for banking at the casino
Ethereum Casino Bonuses
Given the high demand for online casinos since the Covid pandemic and the massive market size, there are many gaming operators trying to capture the market and the competition is cutthroat. There are thousands of online casinos and hundreds of them support Ethereum. In order to stand out from the crowd and attract new users, casinos often resort to bonuses.
Virtually any online casino today will offer a welcome bonus in some form or the other and most casinos also offer tons of other types of promotions. Currently, some of the most popular types of bonuses that we can see at Ethereum casinos are as follows:
No Deposit Ethereum Casino Bonuses
The no deposit bonus offers advantages to both players and casino operators. For the operator, it is a highly effective tool to get new sign-ups. As far as players are concerned, a no deposit bonus is a fantastic way to play real money games at a new casino for free and even win real money risk-free. By definition, the player need not make a deposit in order to claim a no deposit bonus. The only requirement is that the player successfully opens an account with the casino and the bonus reward is issued. There are two types of no deposit bonuses:
- No deposit free cash: In this type of no deposit bonus, the player is rewarded with a certain amount of Ethers when they register an account with the casino.
- No deposit free spins: When it comes to no deposit free spins, instead of being rewarded with cash/ether, the player receives a particular number of free spins which can be used to play eligible slot games for free.
Deposit Ethereum Casino Bonuses
A deposit bonus is one where a player receives an incentive for making a qualifying deposit. What constitutes a qualifying deposit is defined in the bonus terms and conditions. The deposit bonus reward could be free cash, free spins, a combination of the two or something else altogether. Some common types of deposit Ethereum casino bonuses include:
- Welcome bonus: Apart from the no deposit bonus, a welcome package usually comprises of match bonuses for the players first or initial deposits. Since these bonuses are triggered by the player making a qualifying deposit, it is the perfect example of a deposit casino bonus.
- Match bonus: Even if the player is not technically new and has already claimed the welcome package, many casinos offer match bonuses for other deposits as well. Here’s an example to clarify – receive a 100% match bonus when you make a minimum deposit of $20 every Monday. In this example, the player's deposit is “matched” with a bonus from the casino.
- Cashback bonus: It is common for casinos to offer cashback bonuses to regular players. Losing is part and parcel of casino gaming and it is irrational to expect that you are always going to win. Using cashback bonuses, however, you can minimize your losses since the casino will return a small percentage of your losses over a given period of time as defined in the bonus terms and conditions.
- Referral bonus: Casinos are always looking for creative ways to increase their user base and offering bonuses to players who refer other players is an effective technique in this regard. In such bonuses, when the referred player makes their first deposit, the player that referred them will receive a bonus in the form of free cash, free spins, etc.
No Wagering Ethereum Casino Bonuses
When you consider any of the above-described types of bonuses, once you receive the bonus funds into your account, you will not be able to withdraw these funds right away. In order to avoid bonus exploitation, casinos will usually specify how much money a player has to wager and play from their own pocket before the bonus funds are unlocked for withdrawals. This is the wagering requirement or playthrough requirement.
However, on rare occasions, some casinos will risk offering bonuses without any wagering requirements at all for very brief periods of time in a bid to rapidly gain members.
Reload Ethereum Casino Bonuses
In the online casino industry, a reload refers to any deposit made by a player after the consumption of their welcome package. Basically, it is not one of your initial deposits but rather a reload of funds into your casino cashier. Casinos will offer bonuses for reloads as well. These may require that you make the reload on a certain day of the week, of a certain minimum amount, etc.
Loyalty Rewards at Ethereum Casinos
For the continued success of an online casino, it is not enough to offer bonuses just to new players and get them to sign up and deposit money. Retaining existing players and ensuring that they play often and stay loyal to the casino is just as important.
Usually, an Ethereum online casino will offer a tiered loyalty club where the VIP level of the player is determined by how many comp points he or she has collected up to that point. Comp points are rewarded for all real money wagers – therefore, the more you play, the more comp points you gain and this means a higher VIP level which in turn results in better VIP perks.
How to Deposit and Withdraw Funds at Ethereum Casinos
If you are new to cryptocurrencies or you haven’t used a crypto token to make a deposit/withdrawal at an online casino, you may tend to imagine that it is a complicated process reserved for tech-savvy players. However, making Ethereum deposits and withdrawals is quite easy. In fact, one may argue that it’s even easier than using a credit card online. Here’s what you will need to get started:
- An Ethereum wallet
- A positive ETH balance in the wallet
- A membership at an Ethereum online casino
To make an Ether deposit:
- First, log in to your Ethereum casino account from a PC or mobile
- Now, visit the cashier or banking tab of the casino
- Click on the deposit tab or option
- From the provided list of payment options, choose crypto or if Ethereum is mentioned specifically, choose it.
- Enter how much ETH you want to deposit
- Proceed as per the on-screen prompts and complete the payment
- In a matter of moments after the transaction is approved, your casino cashier will reflect your newly updated balance
To withdraw your winnings using Ethereum:
Before you request a withdrawal, there are a couple of things you need to verify – firstly, make sure you have a positive balance that is sufficient to warrant an ETH withdrawal and secondly, make sure any pending verification of your account has been completed.
- Once you are logged in to your Ethereum casino account, visit the cashier or banking page
- Click on the withdrawal tab or option
- Choose crypto or Ethereum and enter the amount of ETH you wish to withdraw
- The casino will prompt you for your wallet address, you can either type in the public address of your Ethereum wallet or copy and paste it
- Now, the payment will be processed and the ETH will be sent to your Ethereum wallet
Most Popular Games at Ethereum Casinos
Any Ethereum casino worth its salt will offer a vast and diverse game collection. Some of the biggest Ethereum casinos offer thousands of games across various categories which include but are not limited to slots, table games, live dealer games, progressive jackpots, speciality games, etc. Let’s take a brief look at some of the most popular categories of games at Ethereum casinos around the world
Slot machines are the staple offering at most Ethereum casinos and these games are usually responsible for well over 50% of the casino’s total revenue. The reason these games are so popular is mainly that they are very easy to play and players need not bother with learning how to play. All one needs to do is set their bet amount and press a button to spin the reels. If the reels end up with a matching payline, the player wins, if not, the bet amount is consumed by the slot.
Considering the massive demand for slot games, many providers have come up with creative slots that have different types of themes. Action slots, adventure slots, fantasy slots, sci-fi slots, slots based on movies and TV shows, etc. are common offerings. Furthermore, there are 3-reel classic/retro style slots, 5-reel slots with various bonus rounds and special symbols, etc.
Casino players that know the rules of certain table games and understand how to play them will benefit more from playing table games than playing slots. The reason for this is simple, table games usually have a lower house edge than video slot games. What’s more, while the result of a slot game is entirely luck-based, table games involve certain skills and strategies.
Some of the most popular types of table games include blackjack, roulette and baccarat. Since these games have a lower house edge, they also have a low contribution towards the completion of wagering requirements. Therefore, players who are chasing after the completion of wagering requirements are best served by sticking to slot games.
A progressive jackpot could be a slot game or a table game. Most commonly, you will come across them in the form of slots. In a traditional slot (which is not progressive), the top prize or the max payout is usually fixed. On the other hand, a progressive jackpot slot is one where the top prize has no limit and it is basically an accumulation of all wagers placed by players on the game or on the network until one lucky player comes along and wins the jackpot.
The reason progressive jackpots are so popular is obvious – players fantasize about winning 6 or 7 figure lump sums that will make them millionaires overnight and only progressive jackpots offer such prospects.
Live dealer games
Players that enjoy the social connection of visiting a brick-and-mortar casino can now experience similar dynamics even at an Ethereum online casino thanks to live dealer games.
When you play a live dealer game, you are basically connected to a real human dealer via live, high-definition video streaming. This way, you can see the dealer and the table right on your screen and use the interface to place your wagers, chat with others at the table and even interact with the friendly croupiers. Live dealer games are not just limited to table games such as blackjack, roulette and baccarat, but also include live game shows such as live monopoly, live crazy time, etc. As opposed to real tables and land-based casinos, live dealer virtual casinos are always open and you don’t have to wait in queue for a seat to open up.
Video poker is a delightful intersection between slots and the popular card game of poker. Instead of playing against other poker dealers, you are basically playing against the house. When compared to usual slot machines, video poker games offer higher player returns and players that have good poker skills can really fine-tune their skills and have a greater chance of winning.
How to Choose an Ethereum Gambling Site or Casino
Choosing the right online Ethereum casino is arguably the most important ingredient that may make or break your gaming experience. So, how do you go about choosing the right Ethereum casino?
Unfortunately, there is no simple answer to this question since what is right for you may not be right for someone else.
It is going to depend on where you live, which type of casino games you prefer, what kind of stake ranges you usually play within, what device you play on, which operating system your device runs on, and various other personal differences. Nevertheless, there are some aspects of an Ethereum online casino that should meet a certain minimum standard before you even consider signing up. Below, we go over some of the main attributes to look for when choosing an ideal online casino.
- Read Reviews: The first step to choosing a good online casino would be to read through reviews of the casino. You shouldn’t just read the reviews posted on the casino website itself since they may be biased and selectively chosen to portray the casino in a certain light. Casino gaming forums where real players have their say about different casinos is a good place to skim through.
- License Details: Playing at an online casino that isn’t licensed is always risky business. The whole concept of a casino being licensed by a gambling regulatory body is there for a reason and it certainly protects the consumer from outright fraud. When a casino is licensed, it entails that they abide by certain standards when it comes to fair gaming, security, data handling, etc.
- Ethereum Support: Simply because an online casino accepts Ether deposits does not mean that you can use ETH for everything at the casino. If you also plan on receiving your casino winnings via ETH, for example, then you must verify that the casino supports ETH payouts too. Also, some Ethereum casinos will partner with certain Ethereum wallets and you may only use that wallet for gaming at the casino.
- Bonuses & Promotions: As we’ve mentioned, virtually any online casino in the current market environment will offer a bonus in some form or the other. So, just because you are being tempted by a bonus offer, it does not mean that the casino is the right choice for you. In fact, most bonuses are marketed as being ‘too good to be true’ and sadly, they often are. Players must understand bonus terms and conditions such as wagering, max bonus cashout limits, validity periods, etc.
- Game Collection: What sort of games do you like to play? If you enjoy playing live dealer games and choose a casino that has lots of slots but very few live dealer games, then you might have a disappointing experience. When assessing the game library, you shouldn’t just look at how many games are available, but you must also consider which providers supply the games, what kind of game categories are featured, if the games are provably fair, etc.
- Customer Support: It’s better to have it and not use it than to need it and not have it. Most modern Ethereum online casinos are self-explanatory, they have extensive FAQ sections and sometimes even how-to guides and it is unlikely you will need help from customer support. However, when you are dealing with real money it is always reassuring to know that you can chat or talk to a support agent over the phone at any time if something goes wrong and you need help. Look for Ethereum casinos that offer 24x7 support via email, chat and telephone.
Online Casino Software Providers that Accept Ethereum
Contrary to popular belief, an online casino does not necessarily produce its own games. This holds true for Ethereum casinos as well. The games you see listed at an online casino are generally products of dedicated game development companies from around the world.
Most Ethereum online casinos are multi-vendor casinos and they get their games from several different game providers. Some of the most reputable game providers that offer games that support cryptocurrencies such as Bitcoin and Ethereum include NetEnt, Realtime Gaming, Microgaming, Playtech, Betsoft etc.
Pros of Ethereum Gambling
1. Decentralization: After Bitcoin, Ethereum is the world's second most decentralized cryptocurrency. Although specific individuals and groups have significant power over the project and how it pans out in the future, there is no centralized authority with sole control. This distinguishes it from other payment methods. The problem with conventional payment instruments such as credit cards and e-wallets is that the system is controlled by a single entity. There is the possibility of a transaction being rolled back or an account being suspended if it comes down to it.
2. Smart Contracts: The Ethereum network employs smart contracts, in which both parties use signatures to secure a transaction. As a result, once a wager is placed, it is irreversible. There is no way for either person to exit before the transaction is completed, as the session would conclude with an automated transaction. This fosters trust amongst users and with the operator too.
3. Speed and cost of transactions: One of the biggest advantages of withdrawing casino winnings in Ethereum is that it is completely free, whereas most casinos charge either a fixed or percent commission for other means of payment. Aside from some nominal costs for third parties and miners that help with the process, Ethereum transactions normally have no fees at all. Ethereum transactions are also quicker, usually processed in or under 15 seconds.
4. Privacy and Anonymity: You may make Ethereum deposits and withdrawals without revealing any personal information. You'll never have to deal with anything other than wallet addresses to complete transactions. This keeps your identity hidden, and because you're not revealing any personal data, there's no risk of exposure or misuse of the data. Players that engage in real money online gambling often wish to remain anonymous and cryptocurrencies such as Ethereum are the perfect solution.
Cons of Ethereum Gambling
1. Volatile value: If you look over the years, it is true that the value of Ethereum has skyrocketed from when ETH was launched in August of 2014. At this time, over 50 million ETH was sold for just $0.31. Today, a single ETH is worth over $3000. However, the price is also volatile in the other direction and the value can drop significantly and quickly too. So, while the volatility is actually seen as a benefit by many ETH holders, it could seem a little risky for others to get on board.
2. Learning curve: Even though it is actually really easy to set up an Ethereum wallet, purchase ETH and use it for making deposits and withdrawals at an online casino, there is a little bit of a learning curve involved and this is a turn off for many gamblers that don’t want to spend time setting things up when they could just pay for their gaming with a credit card.
Mobile Ethereum Casinos
Unless you are someone that only plays on PC, it is really important that the Ethereum casino of your choosing be mobile-friendly. This does not always have to mean that the casino should have its own dedicated mobile app for Android, iOS, etc. but at the least, the casino website should be a mobile-friendly site. Thankfully, most Ethereum online casinos are already at the forefront of technology and are completely mobile friendly in nature.
The Safety of Ethereum Gambling
Using ETH for gambling is safe and proven. In fact, since these transactions are peer to peer, there is no chance of the transaction being flagged by your bank or declined because it is routed to a merchant offering online gambling services. In a way, Ethereum is much safer than using a credit card for online gambling since no one even knows who the transaction involves. You only have to divulge your wallet address.
At the same time, all transactions are verifiable and the network is extremely robust and reliable, more so than traditional financial institutions like banks. Provided that you sign up with a licensed casino that uses SSL encryption and is protected with solid firewalls, you have nothing to worry about in terms of safety when gambling with Ethereum.
Provably Fair Ethereum Casinos
The concept of being ‘provably fair’ is a reassuring one for players. When you play a casino game at an online Ethereum casino, how can you be sure that the game is not unfairly rigged against you? Well, there are third-party auditing companies that test and certify the random number generators used by casinos to make sure these algorithms are in accordance with the published payout rates of the games.
This way, all results are fair and the house edge is not a single decimal higher than what has been made public.
Ethereum Wallets Available to South African Users
Different Ethereum wallets come with different tradeoffs. Some are better in terms of how easy it is to use while others offer incredible security. You need one which strikes the right balance for the purposes that you intend to use it. A few top suggestions for South Africa friendly Ethereum wallets include:
Ethereum Casino Sites with a Faucet Feature
Some websites, including online Ethereum casinos, will offer players the ability to earn small amounts of Ether in exchange for completing certain tasks for the website. These could be completing captcha’s or taking surveys, etc. Such a feature is called a faucet. A few top online casinos that offer a faucet feature include 7bitcasino, mBitcasino, BitStarz, etc.
FAQs About the Best Ethereum Casinos
Yes, provided that you sign up with a licensed and trusted casino, using Ethereum for online gambling is one of the safest payment modes.
Depending on where you live, the legality may change. For South Africans, Ethereum is perfectly legal since it is recognized as a taxable asset within the country.
A good game collection, promotions with reasonable terms and conditions, low transaction handling fees, reliable customer support and mobile compatibility are some of the key attributes of a good Ethereum casino.
Yes, however, most bonuses can only be withdrawn after the completion of the bonus wagering requirements. You can check the specific requirements for your bonus by reading the bonus terms and conditions.
In order to buy Ethereum, you need to choose a crypto exchange platform, open an account, make a deposit in fiat currencies and then trade the fiat currency for ETH.
Summary: Personal User Experience with Ethereum Casinos
Ethereum casinos and crypto casinos, in general, are touted to be the future of online gambling. After having experienced Ethereum online casino gaming first-hand, it is hard to question this claim.
The benefits of using Ethereum for online gambling are almost perfectly in-line with the demands most online gamers have. Crypto tokens like ETH solve the basic hardships of online casino gaming such as privacy, anonymity, transaction speed and fees with laser-like precision. It’s almost like ETH was made for online gaming.