What is Ethereum?
While you can buy and sell (and gamble) Ethereum like any other cryptocurrency, Ethereum is much more than “just” a currency.
Ethereum is by far the most mind-bending of all the cryptocurrencies. It’s so much more than just a currency that it’s been touted as “the new internet.”
So what’s it all about? Bitcoin uses a decentralized system (blockchain) for keeping track of transactions and where each Bitcoin is. Ethereum takes this idea way further. Instead of keeping track of Bitcoins, it keeps track (and executes) computer programs.
Because the Ethereum system is decentralized, it has two advantages over running a piece of software on a single computer: once the software is on Ethereum, it can’t be messed with, and it’ll never experience downtime.
One easy-to-understand application of this system is smart contracts. You can make a simple piece of software, that does something automatically if it’s triggered (like, for example, paying certain people if a stock value goes over a certain amount). Thanks to Ethereum this contract will now hold, as nobody can alter it anymore.
Everything Ethereum does takes computing power. This is where the currency part comes in. Ethereum’s currency is Ether, and like Bitcoin, it is mined. It pays for everything that’s done on Ethereum. Essentially Ether is used to pay for “transaction fees” based on how you use Ethereum. Like satoshi is the smallest unit of Bitcoin, wei is the smallest unit of Ether.
Ethereum has had a colorful history even by cryptocurrency standards. There’s been a high-profile theft (that was later resolved) and disputes about the future of the Ethereum project. The latter got so serious, that eventually the project was split into two: Ethereum and Ethereum Classic.
When we talk about Ethereum here, we’re talking specifically about the non-classic kind. Ethereum stands out as the second biggest market cap out of all the cryptocurrencies, second only to the veritable Bitcoin (Ethereum Classic hovers between 10-20).
While Ethereum is the 2nd biggest cryptocurrency, it’s only getting there in terms of support from the online gambling world. It trails behind Litecoin and Dogecoin. In crypto sports betting, only one legitimate site supports ETH. But all in all, Ethereum’s relative lack of popularity in online gambling doesn’t mean that you can’t gamble with it. Far from it, just see below for my recommendations for ETH gambling.
Which big-time gambling sites accept ether?
If you wish to play on a well-known gambling site with ether, you can choose from four different options.
Ether has become a widely accepted currency on crypto gambling sites. Gambling companies were slow to adapt Ethereum as one of their go-to currencies, but recent developments have led to crypto casinos adding Ethereum to their offerings.
Betcoin is on of the the ether-accepting gambling sites. Betcoin is one of the oldest and biggest sites for all cryptocurrency gambling. You can play dice, slots, and bet on its website.
Betcoin’s base currency is Bitcoin. Whenever you deposit one of the other currencies it accepts, your deposit is converted to BTC with the rate you’ll see at the site at the time of your deposit. Then, when you cash out, your BTC is converted back to ETH.
Betcoin’s system is not faultless, and of course converting ETH to BTC to ETH is kind of a hack compared to just depositing and playing in ETH. However, Betcoin is an excellent site, and its system is the best an Ethereum gambler can get in 2018.
Are there ethereum dice games?
There are several ether dice games. However I only recommend three of them: 999Dice, FortuneJack and Betcoin.
My favorite bitcoin dice websites like Prime Dice don’t accept ether. Ethereum-loving gamblers have to make due with alternatives.
Most of the ether-accepting dice game sites simply aren’t good enough to be recommended. The reason for this is their low maximum wins. To me, it makes no sense to gamble unless you can win big. Also, it tells me that a gambling site isn’t sufficiently well-funded unless you can win at least 5-10 ETH with a single bet.
With this criteria, there are only three websites I can recommend: 999 Dice, FortuneJack and Betcoin.
999 Dice is a dice game site with an unusually low house edge of 0.1%. The website is provably fair (see “fair bets” at the website) and has the highest payouts in the business. The max profit per bet with ether is 20 ETH.
Betcoin is one of my favorite gambling sites. Its dice game has a higher house edge than 999 Dice’s (1%), but the main reason why I like Betcoin is that I can do all my gambling at one Ethereum-friendly site instead of playing dice at one site and sports betting at another.
At FortuneJack you’ve got plenty of dice games you can choose from. You can play quite dry and math-oriented dice game where numbers just pop on the screen, or you can choose live dealer games. I personally prefer the live casino dice, as the visualisation is much better.
What’s the best Ethereum sportsbook?
The best one is mBitcasino.
I can only truly recommend one Ethereum bookmaker, and that’s mBitcasino. There are a couple of other, ether-accepting sportsbooks, but their reputation is less than stellar, and I’d stay away from them.
At mBitcasino you can bet on pretty much anything with your ETH. Football (soccer), basketball, UFC, eSports … you can bet on anything pre-event and live (during a match).
The match selection at mBitcasino is endless. The odds are very competetive. They’re actually so good they’re better than at any major fiat sports books. I suspect the great odds are possible because, thanks to cryptocurrencies, mBitcasino doesn’t have to pay hefty money transfer fees which leaves room for better odds.
Can I play Ethereum Texas Holdem poker?
Cryptocurrency poker hasn’t managed to garner the same kind of player numbers as fiat poker. Even Bitcoin-accepting poker rooms have difficulties finding enough players to keep the cash game rings and tournaments going, so you might imagine that Ethereum poker is a tiny gambling niche.
The site that used to offer Ethereum poker was Betcoin. But in late 2017 Betcoin poker was forced to close as a result of lack of players. They couldn’t get enough action going, because they didn’t adjust their rake to the cryptocurrencies’ soaring market values.
Betcoin was the only sensible way to play poker with ether. Nowadays, there aren’t really any proper Ethereum poker rooms. We’re on the lookout for one, though, so if you got something good that a) is trustworthy b) has a lot of poker action going, let us know at email@example.com.
What’s the best Ethereum casino?
mBitcasino takes the cake with its great service for Ethereum players.
If the best 2017 Ether casino went to Betcoin by default (there wasn’t much competition), in 2018 things are much different. Now there’s true competition, and currently mBitcasino stands atop, as they become another crypto casino to accept ether.
It’s also smooth for mobile gambling – as you have to be in 2018. You can gamble in ether with either your computer or your tablet/phone on the go. mBitcasino supports all modern mobile devices, including all iPhone/iPad models and any decent Android phone and tablet.
You’ll of course be getting Ethereum bonuses for your gambling. The site has a multi-level VIP system, where you start getting excellent benefits once you get yourself to bronze level. Getting up the levels isn’t especially difficult, any decent ETH deposit & betting will get you there.
We’re especially impressed by the sheer number of reload bonuses mBitcasino shells to their Ethereum players on regular basis. The really want their players to have a good time, and it shows in their timely promotions.