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Launched in 2015, Ethereum is the second most popular cryptocurrency in the world after Bitcoin, and is known for its reliability, speed, and security. When it comes to esports betting, more and more sites have started to accept it as a payment method.
In this review, we will discuss the best betting platforms for esports that support Ethereum, as well as highlight its pros and possible cons.
As mentioned previously, Ethereum is a relatively new payment system. Therefore, not every esports betting site will accept it. Check out our list below of the best esport betting platforms that support Ethereum.
The Russian-based 1xBet is one of the most popular online bookmakers in the world, welcoming users from over 50 countries. It offers Ethereum betting along with 26 other cryptocurrencies, and allows you to choose from a variety of esports disciplines. The bookie is ideal for CS:GO betting, Dota 2 betting, and League of Legends betting, as well as bets on Overwatch.
22Bet is known for its fast payouts, competitive odds and diverse betting options. You can choose from a variety of cryptocurrencies – including Ethereum, of course – as your payment method. What makes it stand out among other esports bookmakers is the extent of its League of Legends coverage. 22Bet even allows you to wager on smaller events, such as the Spanish LVP, South American LLN, and Brazillian CBLoL.
Although LOOT.BET is famous for LoL betting, the bookie offers a variety of esports titles such as Dota 2, CS:GO, League of Legends, and Call of Duty. You'll even be able to find more niche markets, allowing you to bet on bet on Rainbow Six Siege, for example. Esports based on traditional sports are also available, including FIFA and NBA2K betting. Fans of battle royale titles like Apex Legends betting and Fortnite betting will also be nicely catered to. LOOT.BET offers an attractive welcome bonus of up to €200 in extra betting funds.
Ethereum may not be familiar to everyone, especially to people that have not had any experience with cryptocurrencies. Below, we have listed the advantages of using Ethereum for esports betting.
Many esports betting websites encourage punters to use cryptocurrencies as payment methods, as they are much faster and cheaper. Others advise using Ethereum specifically, even offering Ethereum bonuses (which are usually much generous than normal promotions). You may often see some of these bonuses with a value of up to 1 BTC!
As with any other cryptocurrency, Ethereum will allow you to make instant deposits and withdrawals, as blockchain networks do not take weekends off like banks.
Using Ethereum for esports betting is a very simple procedure. All you need to do is create your Ethereum wallet, make a deposit and you are ready to place a bet!
You may know that Ethereum works on a decentralised blockchain network, which is safe and practically impossible to hack.
Ethereum is a fully anonymous network. Not only will it allow you to keep your personal information secure, but you also will not need to go through identity verification processes on most betting sites.
All Ethereum transactions are tax-free. In most countries, you will only pay tax if you make cash income from selling your ETH. On top of that, most betting sites do not charge any transaction fees for Ethereum.
The main disadvantage of Ethereum for betting is availability, as well as occasional small fees. We've listed a couple of other downsides below.
One of the biggest disadvantages is that cryptocurrencies are not available all over the world. For example, countries like Iran, Nepal, and North Macedonia have banned the usage of crypto. At the same time, many ETH betting sites do not accept players from certain territories. This means you may have to opt for a more traditional payment method instead.
While esports betting sites generally do not charge any fees for deposits or withdrawals, you may need to pay attention to other fees in certain cases, such as wallet fees or miner’s fees.
Depositing your funds using an Ethereum wallet is a relatively simple task. To make things even easier, we've created a short guide on betting on esports with Ethereum.
The first thing you need to do is open a crypto wallet, so you have a place to store your Ethereum. There are many to choose from like Coinbase, Kraken, Trust, and Bittrex. Once that is done, you can purchase Ethereum and deposit it.
As mentioned previously, there is a growing number of esports betting sites that accept Ethereum. Some of them include 1xBet and 22Bet. However, it is important to check whether this bookmaker accepts players from your region.
When you have a crypto wallet and found an optimal betting site, you can make a deposit. First, buy Ethereum using your wallet. Then, choose Ethereum as a deposit method on your betting site of choice and follow the instructions.
After that, log in to your wallet. In Ethereum, you must confirm the transaction. You should be able to do it by viewing your transactions, and there you will find the confirmation button. Do not forget to check all of the details.
After you have completed all of the procedures mentioned above, you are ready to go. When your funds arrive in your betting account, you can start placing your wagers.
Ethereum is not the most widely available payment method in the esports betting market. However, there is no reason to worry. If your betting site of choice does not accept Ethereum, there are plenty of reliable alternatives.
One of the main alternatives to Ethereum betting is, of course, Bitcoin betting. It is very simple to use and fortunately, many esports betting sites accept it. You will also notice that Bitcoin is more widely accepted than Ethereum.
E-wallets are a widely accepted payment method within the online gambling community. Almost all sites will accept NETELLER for esports, Skrill for esports, or PayPal for esports. They are very easy and safe to use, with a very straighforward verification process, and you can sign up in a matter of minutes.
Credit cards have become an essential part of our lifestyle, and almost all esports betting sites will support credit card transfers. However, even though they are very easy to use, you should keep in mind that withdrawing funds may take anywhere from 1 to 5 days.
The main advantage of prepaid cards such as paysafecard is that they do not require a bank account or a credit card to function. It is simply a voucher that you can buy online or from your local retail outlet. It is a fast and simple payment method, and works similarly to a credit card.
As mentioned in our review, not every region will be supported by a certain betting site. Therefore, your site of choice may simply not accept players from your country. You can always contact customer service to clarify matters further if you think something may be amiss.
If you have trouble signing up, you should check out some alternative betting sites that will accept Ethereum. As an example, you can look through some platforms that were mentioned in this review.
Yes, it is. Ethereum is a decentralized blockchain network, meaning it is a reliable and secure currency. You can rest assured that your funds and personal information will be safe.
It depends on the esports betting site you have chosen. You can expect deposit welcome bonuses anywhere between $10 and $1,000, and sometimes even up to 1BTC (or equivalent in ETH)!