Your guide to Ethereum online betting
With the continuous rise of cryptocurrencies, more online casinos and sportsbooks are starting to accept this digital asset as a form of payment. Besides Bitcoin (BTC), Ethereum (ETH) is also another popular asset that is widely accepted and supported. As the second most valuable asset in the market, you can always be assured that it is an available option when online betting.
To boost their savings from crypto, many traders and investors opt to play on online betting platforms. If you are new to online betting and the crypto world and are interested to learn more, you are in the right place.
When ETH betting at Bitcasino live casino, there are different important details to remember. To get you started, here is a guide that will teach you the basics of crypto and which games are recommended for you to play!
How to buy Ethereum
Before anything else, it is important to buy ETH first so you can make bets on your preferred betting platform. To start, you will need to set up a few accounts. You have to identify a crypto exchange platform and a wallet to use. With these two, you can buy, sell, and store crypto.
Crypto exchanges
Buying and selling of cryptocurrency takes place on exchanges. Brokers are independent companies that, in exchange for a fee, facilitate the introduction of buyers and sellers. Convenience fees are present on exchanges as well, but they are significantly less expensive and the process is client-driven rather than platform-driven.
When you create an account, exchanges and brokerages also create wallets, but these aren’t the best places to store your savings. The platform holds your private keys because they are frequently custodial. You require a non-custodial wallet so that you can control your private keys and recovery seed.
Ethereum Wallet
To store your savings and keep track of your portfolio, you will need a third-party wallet. Any cryptocurrency wallet will do as long as it can store ETH and transfer it to the casino of your choice. Choose Web 3.0 wallets like MetaMask if you only want to use cryptocurrencies based on Ethereum to gain access to DeFi exchanges.
What are the different types of Ethereum gambling
Now that you have ETH to wager with, there are different ways to win big payouts. The payout you can receive will depend on your level of risk tolerance and the type of game you are playing. With this, you can choose from an online casino, a decentralised pay-to-win game on the Ethereum blockchain, or an online bookmaker for sports betting.
Online casino
Online gambling is one of the go-to activities of crypto traders and investors who want to grow their assets easily. The two main choices you have when you enter an online casino are slot games that make use of random number generators (RNG) or table games that utilise live-streaming technology. Both types of games have a ton of options available, but many people prefer one over the other.
dApps betting
Numerous decentralised applications (dApps) are supported by the Ethereum network, some of which are on-chain gambling applications. Also available through Ethereum-based metaverses like Decentraland are virtual casinos.
These are created and run by legitimate casino operators, and they offer a selection of both unique games and games from well-known game developers. The native currency of the metaverse is typically the accepted betting credit, and you can exchange ETH for it using swap dApps.
Play-to-earn (P2E) gaming is a popular way to earn crypto which became a major trend in 2021. After the conclusion of a daily or weekly leaderboard, you can receive rewards for accomplishing goals or reaching a particular rank. Some of the most popular games then were Axie Infinity and The Sandbox.
They frequently have an ETH startup payment requirement that must be met to purchase your initial in-game assets. You can increase and expand it personally over time with work and preparation because it is your investment.
Sportsbook
If you are a sports junkie, you will most likely love this option. Sportsbooks are where people wager on sports and esports. You can access them on the internet and make your bets right away rather than queueing in a land-based bookie. ETH being the second most valuable coin in the market, you are likely to find support for its deposits and withdrawals.
Numerous bookmakers provide betting markets for major sporting events. Since minor leagues are rarely covered by international bookmakers, most bettors only wager on major events. For updates on all the featured sports on the platform, online bookmakers frequently have a news page. This makes it easier for fans to keep up with the news surrounding their favourite teams and athletes, which may impact their wagers.
The perks of betting with Ethereum
There are tons of reasons to start betting with Ethereum. This gives you a top-notch experience like no other, where you can enjoy earning more and growing your digital assets at the same time. Here is a rundown of these perks:
Lower fees
One of the advantages of using Ethereum for online betting is that there are fewer fees. Transactions are carried out on a distributed blockchain network, so using the network may be less expensive than using more established online payment options.
While Ethereum itself may be regarded as secure, it is important to keep in mind that not all online bookmakers that accept it are reliable. You must conduct thorough research and limit your use to reputable, authorised betting sites.
Transparent
Another advantage of using Ethereum for online betting is transparency. The ability to easily view and track every transaction enables a greater overview of the betting process in the first place. This can guarantee that wagers are handled fairly and that the outcome of the wager is decided by a fair and impartial process.
Users’ confidence in the betting platform is also increased by transparency because they can see that their wagers are being processed honestly and that their money is being handled securely.
Secured and anonymous payments
Cryptocurrency transactions are anonymous because they use blockchain technology and cryptography. As a means of exchanging currency, there is no central bank involved. The high levels of security and anonymity that come with using crypto are their main benefits. With this, people shouldn’t be concerned about where they store their money online since there are crypto wallets available.
Instant transactions
When using cryptocurrency, deposits and withdrawals at an online casino happen instantly. In the case of deposits, there is hardly any delay. Although there might be a withdrawal time limit, it is undoubtedly quicker than other payment methods. This will be the same case for Ethereum. You can expect fast transactions thanks to its blockchain technology. This asset can process around 30 transactions per second
Bitcasino games to wager on with Ethereum
There are tons of games you can play using ETH. At Bitcasino, the selection is endless! If you want to get the most out of your crypto, here are some games you need to try out:
Book of Bitcasino
Online casinos constantly add new games, but some timeless favourites simply cannot be topped. One of them is Book of Dead from the Rich Wilde series by Play’n GO, in which a dashing tomb raider recovers the game’s titular artefact in prehistoric Egypt.
A simple game initiates when you activate the free spin mode. It starts by spinning a single reel that contains one of each regular symbol in the Book of Bitcasino. For the remainder of the bonus mode, whichever symbol it selects becomes your winning symbol. When the chosen symbol appears on three or more reels in a single spin, it takes up the entire reel and you are compensated at its standard rate for each combination.
Paradise Trippies
While winning real money is possible on all of the Bitcasino slots, there is one game that offers the chance to win a much more valuable prize. This is Paradise Trippies, a product of Caleta and Bitcasino. You can win non-fungible tokens (NFTs) in one of the game’s bonuses in addition to real money rewards, which are also offered.
For the most part, Paradise Trippies functions like a typical slot machine game. It has three rows of randomly generated images and five reels. To win the amount promised in the pay table, line up similar copies of the same symbols from the leftmost column to the right. For the bonus feature to be activated, collect three copies of the Legendary Box Bonus.
Bitcasino Billion
Bitcasino Billion is a straightforward game that adheres to the fundamentals of all online slots, making it a great starting point for new players. It is a result of a partnership between Bitcasino and BGaming, one of the top slot machine developers in the market.
This game has one of the highest payout percentages of all the Bitcasino slots, and winning is simple. The symbols don’t have to be arranged in a specific pattern. To win, you simply need to have 8 or more pieces of the same image. When 12 or more copies of the top-paying symbol appear during a spin, you’ll receive 50 times your wager.
If there is at least one multiplier on the grid, it may be greater. An image of a pickaxe mining a mountain of gold is used to symbolise this, and a value between 2 and 100 is assigned at random.
Book of Wizard
Booongo’s Book of Wizard invites you to use double chances while using your aptitude for the arcane to win mega wins. It is a 10-pay line, 5×3 slot machine with a high RTP of 95.63%. The game’s title ‘book of the wizard’ serves as both the game’s wild and scatter symbols.
Before starting the free spin mode if you have three or more of these anywhere on the grid, it will first look for a winning sequence. Since the book is also the highest-paying symbol, getting three or more of them on a payline in a row pays out 1,000 times your wager.
Jewel Sea Pirate Riches
Do you want to go on an adventure for big payouts? You need to look no further than Fugaso’s Jewel Sea Pirate Riches. With a 96% theoretical hit rate, it is a slot game with high volatility. It has three reels and five rows, and it has ten standard paylines.
Each one can pay from either end, so rather than having to start at reel 1, a set of three symbols can win if they appear on reels 5, 4, and 3. The expanding wild, an animated skull with a pirate hat, swords at the back, and a ship wheel are the game’s most prominent features.
Play with Ethereum at Bitcasino
Besides the aforementioned, there are tons more games to play and make the most of, whether you’re just betting simply from your bankroll or with a Bitcasino bonus. To increase the potential of winning when ETH betting, make sure to employ different strategies. With this, get the most out of your crypto and take home huge prizes.