Ethereum Betting Sites 2022

Find out about the best Ethereum betting sites

You don’t have to be a crypto expert to have heard of Ethereum. It’s probably the best-known cryptocurrency after Bitcoin. We want to show you some Ethereum sports betting sites as the online gambling world has adopted this crypto.

Ethereum eSports betting websites are all the rage, and other sportsbooks that accept Ethereum as a payment method are everywhere. We’ll look into how you can get your hands on some Ethereum, use it to pay at an operator, the history of the crypto, and how it squares up against other payment methods. Come along for all things Ethereum!

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Compare the best Ethereum betting sites

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Getting and using some Ethereum

It’s no secret that Ethereum is one of the world’s most loved cryptocurrencies. Most crypto enthusiasts have some Ethereum accompanying their Bitcoin. It’s a major crypto asset that works differently from how Bitcoin operates. Here at Wetten.com, we would like to take you on an Ethereum sports betting site journey and tell you how to get going with this unique cryptocurrency.

Acquiring your Ethereum

To get your hands on some Ethereum and start making wagers on the best Ethereum casino, you must take a trip to your nearest crypto exchange. Wow, hold your horses. What on earth is a crypto exchange? Well, it’s almost like a stock brokerage, but, as you may have guessed, for cryptocurrencies. You can buy, sell, and trade on the crypto exchange, essentially making it a marketplace for crypto. You should consider several factors when choosing a suitable crypto exchange when you want to invest your Canadian dollars.

  • Fees: You’ll be looking at trading fees for the amount of Ether you buy and sell and also withdrawal fees to move the Ether from the exchange to your wallet. Lastly, if you use more beginner-friendly exchanges such as Coinbase, they will charge a certain price if you use the “quick buy” option.
  • Security: Unfortunately, as crypto and Ethereum have grown in popularity, hackers have targeted them. Big exchanges, for example, Binance, have come under a cyber attack. You should ensure that your chosen crypto exchange has strict security measures to protect your Ethereum stash.
  • Availability: As you obviously want to use the Ethereum sports betting sites, you need an exchange that trades and supports Ethereum. Luckily, you’ll find Ethereum at almost 100% of exchanges.
  • Accessibility: Are you able to buy Ethereum from Canada? That’s something you have to establish first. Not all exchanges are available worldwide.
  • The last factor you should consider is whether a wallet offers you the option to buy Ethereum directly. Some crypto wallets provide you with this option.

Setting up an account

You’ve chosen your exchange or wallet, and you want to open an account. You are one step closer to wagering on an Ethereum eSports betting website and having the time of your life. Don’t fret, as it is a straightforward process. Opening an account at a crypto exchange or wallet usually involves a KYC or Know Your Client process. Here’s the rundown.

  1. First, provide the exchange or wallet with some personal details such as your name, address, email, and date of birth. Easy enough.
  2. Now, they will verify your account. To do this, you must provide a form of government-issued identification such as a driver’s license or a passport. They will also more than likely ask you to take a high-resolution selfie to submit. Who said getting on an Ethereum sports betting site is not a glamorous affair? Oh yes, you’ll also need a copy of your bank statement.
  3. Verification typically takes about 24 hours. You’ll be notified that your account is verified, after which you can go ahead and deposit some Canadian dollars.
  4. Buy yourself some Ethereum! After you buy the Ethereum, it will be stored on a wallet address.

I want to start playing on the best Ethereum betting sites!

Okay, no worries! Now, you must head to your Ethereum sports betting site of choice. Open your account and head over to the dashboard. Here, you can navigate to the section where you can make a deposit. Here, you can choose Ethereum as a payment method. The operator will now provide you with their Ethereum wallet address. You can copy this address and then head over to your crypto exchange or wallet (see if there is a designated app). Now, go to the “send crypto” option, and choose the amount of Ethereum that you want to deposit at the Ethereum sports betting site, keeping in mind that there may be a small fee, especially if you use an exchange.

Okay, you’re almost eSports betting with Ethereum, just a few more steps! Now, you will need to insert the operator’s wallet address, and then you can press send. After sending, your Ethereum deposit will show within a few minutes to a few hours. For withdrawals, you follow the same process, just in reverse. You will need to insert your crypto wallet address in your sportsbook account and then withdraw.

How long do I have to wait?

Here comes the cool part. It’s where cryptocurrency gambling really shines. It blasts other payment methods out of the water. Is Ethereum quick enough? Well, let’s have a look, shall we?

Deposit and withdrawals – Is it a good option?

Ethereum is most likely the best payment method for deposits and withdrawals. When you deposit with Ethereum, it won’t take more than 15 seconds. You heard us right. That’s it. Even faster than Bitcoin, which could take up to 30 minutes to show.

How does it compare?

Ethereum is blisteringly quick. As we mentioned above, a deposit will take a maximum of 15 seconds to complete. Now, we hear you. You’ve probably said, “Ah, but a credit card deposit is also instantaneous,” or something similar. That may be true. But here is the neat part. How long does a credit card or a bank transfer withdrawal take? Up to 5 or more business days? So listen closely. An Ethereum withdrawal is instant. That’s right. How about immediate payouts to make your Ethereum sports betting site experience even more dazzling? Even eSports betting with Litecoin cannot boast an instant withdrawal time (even if it is close).

What should I do if my deposit or withdrawal doesn’t show?

We know you’re still accepting the fact that Ethereum is so fast. It’s something all right. But what should you do if your deposit or withdrawal doesn’t show immediately when using Ethereum? We recommend contacting customer support as soon as you see the funds don’t show up. They will be able to assist you in seeing what the issue is.

Getting verified to use Ethereum

To use Ethereum, you should go through a verification process at your exchange or crypto wallet when you buy. It’s similar to when using Bitcoin sports betting sites in that the user must possess a verified account at a crypto wallet or exchange to buy the crypto of their choice.

The crypto wallet or exchange will most likely need some documents from you to verify the person’s identity. After this KYC process is finished, the user can buy, sell, trade, and withdraw funds from their wallet. Usually, this involves a process where the user must upload some documentation to the wallet or exchange. It will include a government-issued ID, as we mentioned earlier, together with a selfie. They will also need to verify banking details with some form of proof, such as a bank statement or an account letter.

When opening an account with an Ethereum sports betting site, a KYC process will most likely also need to be followed to be able to deposit funds or make withdrawals.

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How was Ethereum developed?

We always like to give a quick history lesson on the payment provider, so you know where the product came from and who created it. Vitalik Buterin, who is a co-founder of Ethereum, was introduced to the blockchain and Bitcoin scene in 2011 when he was only 17 years old. Buterin wanted to use the blockchain platform for more than just trading cryptocurrency. In 2013, he published a white paper where he described the idea of Ethereum to the world.

Initial start and split

In 2014, Buterin, together with the other co-founders of Ethereum, used crowdfunding by selling Ether tokens to raise a colossal $18 million. In 2015, Ethereum was initially released as Frontier. The platform suffered a setback in 2016 when hackers could steal some $50 million Ether, which raised security concerns with investors. After this event, the community split into two blockchains, one called Ethereum and the other known as Ethereum Classic.

Growth and future

2017 was Ethereum’s year, where the crypto saw spectacular growth of about 13,000%. Needless to say, this was very attractive to investors. Even though it suffers from volatility like all other cryptos, Ethereum has shown resilience through the years. Many say it will ultimately move past Bitcoin as the number one crypto. The reason for this is its versatility. Ethereum has also shown us that it’s not an altcoin that will collapse overnight or a scam. Its reputation has grown, and many investors choose Ethereum over Bitcoin as their cryptocurrency. The Ethereum blockchain is used for many other applications as well, such as NFTs or Non-Fungible Tokens.

How does Ethereum shape against other payment methods?

Ethereum is a solid choice when looking for crypto with which to make your next bet. There are several reasons why you see so many Ethereum sports betting sites currently available. Let’s look at a few.

Anonymity

The Ethereum blockchain is completely decentralized. It means that there are no banks or governments involved with the buying, selling, or transferring of Ethereum. It provides a level of anonymity when gambling which lots of players prefer. More conventional payment methods don’t offer this level of anonymity as banks issue most cards, and eWallets also keep records of the activity.

A level of safety above others

An Ethereum transaction cannot be hacked, so it provides a great level of assurance to bettors. The Ethereum transaction is exceptional in that it cannot be traced or defrauded. The operator also likes this as the platform cannot be infiltrated, and they know the customer is safe. The same cannot be said of conventional payment methods.

Bigger deposits and bonuses

Most operators prefer it if you use Ethereum as a deposit method. You can deposit anywhere between $20 up to an insane $100,000 when using Ethereum. A normal payment method such as a credit card cannot even come close, as the deposit limit is usually set at $5000. It also means that you can get bigger welcome bonuses when using Ethereum.

No fees associated

Another awesome feature when using Ethereum to place sportsbook bets is the almost zero fees you pay when depositing or withdrawing from an operator. Some sportsbooks and casinos can go as high as putting a charge of 7.5% or more on transferring funds with more traditional payment methods. There are zero fees on Ethereum payouts, making it even more attractive to bettors. Why would you use anything else if you know you get your payout in full?

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Three Ethereum truths you should keep in mind

There are a few key things you should remember when you gamble on your favourite eSports or other sports markets with Ethereum. We feel it’s a good idea to take notice of them.

Choose the correct payment method for bonuses

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Use Ethereum to deposit and withdraw

Furthermore; you should never forget that most operators live by a certain rule. You must use the same payment method to make a deposit and withdraw. It doesn’t seem like a big issue, but it could become quite a headache, especially if you use more orthodox payment methods. However, Ethereum’s desirable benefits regarding depositing and withdrawal will most likely not trouble bettors as they won’t want to use any other payment method to get that immediate deposit and payout. 

Remember to keep your information current

When first opening an account at your crypto wallet or exchange, you will go through a KYC process, as we discussed a bit earlier in the guide. A good rule to live by is to keep your documentation up to date with the exchange or wallet, as changes in your address or bank account could potentially stifle withdrawals that you would like to make.

Suppose you give an instruction to sell your Ethereum and withdraw the cash funds into a new bank account, and your exchange still has the previous accounts documents on record. In that case, they will most likely refuse to pay your money before you’ve provided proof. It will add an unnecessary time delay to the transaction.

Is Ethereum worth the gamble?

You bet it is! Our crew at Wetten.com is extremely impressed by Ethereum’s versatility as a payment method, especially when playing on a sportsbook. Like the best Dogecoin casino, an operator offering Ethereum as a payment method provides bettors with much more convenience. Other conventional payment methods, such as credit cards, do not provide the level of anonymity, security, or speed when it comes to all things gambling, as discussed in this guide.

There are numerous sportsbook operators available to Canadians where they can place bets with Ethereum. You can go and visit Stake, Wazamba, Sportsbet.io, and Sol Casino if you’re looking to bet on your favourite sports market with Ethereum. Always remember to return to our handy guide for more information about sports betting with Ethereum.

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Ethereum sports betting sites FAQ 

👮Is Ethereum legal to use in Canada?

Ethereum is the second most popular cryptocurrency available after Bitcoin. It provides more benefits to the user regarding gambling than other payment methods. We discuss the legality of Ethereum and other cryptocurrencies in Canada in our many reviews and guides.

📄Who regulates Ethereum?

Ethereum is a cryptocurrency that is decentralized and runs on its own blockchain. It is not regulated in Canada at the moment. You can read more in our reviews and guides to understand how Ethereum works and if any governments and banks regulate it.

🔒Is Ethereum safe to use as a payment method?

When we do reviews, we check the safety and security of all aspects of a payment provider. When using cryptocurrency as a payment method, there are several things to take into account, such as the safety of the wallet and the exchange that you decide to use. We discuss these safety concerns. Our reviews and guides discuss all of these safety concerns.

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