Introduction – What is Ethereum Gambling?
Ethereum Gambling refers to the branch of online gambling that is based on cryptocurrency and takes Ethereum as the source of payments and winnings. Online gambling industry has been one of the firsts to welcome the usage of cryptocurrency, especially after the introduction of multiple decentralised assets and the rise in their popularity. Ethereum gambling has lately been experiencing a surge in the user base due to the list benefits and advantages that are offered to the users over conventional methods of gambling such as traditional fiat based gambling or even physical land based casinos.
How does Ethereum Gambling work?
The approach and underlying fundamentals of Ethereum gambling is quite similar to its traditional counterparts with slight differences that can often result in a significantly different experience. There are various Ethereum gambling sites to choose from for the gamblers based on their geographical region and availability. These platforms or online casinos accept Ethereum as the primary source of payment. Ethereum gambling is usually not limited to one particular region or country and welcomes users from around the world as the altcoin is not controlled by any specific financial institution.
How to choose the right Ethereum Gambling sites?
The growth of cryptocurrency paved the way for a plethora of online platforms for gambling and betting. Consequently, the market was filled with plentiful options to choose from which makes it a tad bit more difficult to narrow one’s options while selecting the right platform to choose for one’s personal usage. Although choosing among the leading platforms is always a good approach, there are a few things that users should keep in mind before investing money in any platform.
Compare bonuses & promotion
Most of the online platforms strive to entice new users and keep the existing users engaged through the help of numerous promotions and bonuses which can enhance the gambling experience even further and add value to the wagers by the bettors. These promotions can include things like free spins, free bets, additional perks, jackpots and many more. These are also applicable for sports betting sites that accept Ethereum.
Check for security/safety
While blockchain is a more robust and secure technology than the previous one, it is still important to pay attention to every element that can become a vulnerability or a point of cyber attack. Ensure that the platform of choice comes with industry standard measures of safety such as SSL encryption, 2FA etc. It is also strongly advised to pay attention to the safety standards of the digital or crypto wallet that is used.
Try free to play
Some platforms enable the users to play for free through demo versions or even place a free-of-cost bet. Making use of these features can be really beneficial if the selected platform supports the same. This can help one familiarise with the casino or the platform and give a peek at what the wagering system has to offer.
Pricing and fee structure can play a big role in determining the quality of one’s gambling experience. Most of the leading platforms have free deposits but withdrawals might be a different story altogether. In addition to this, fees can also be associated with high volumes of gambling which should be avoided by heavy rollers and bulk gamblers. There are various platforms that charge negligible fees or none at all that can be considered while getting down to one.
The experience of the already existing users of the platform can generally share a good and valuable insight to the kind of experience a new user might expect. Third party review sites such as TrustPilot can also be used to see what the users have to say about a given platform and what the benefits or shortcomings of that online casino might be.
Ethereum gambling still stands in an early stage and is expected to grow manifolds in the years to come as cryptocurrency and online gambling gets more and more accepted as well as regulated across the world. Before dipping one’s beak in the waters of Ethereum gambling. As it stands for every industry, good research and thorough understanding is paramount for having a good time.