- Completely anonymous
- Can be used in countries where online gambling is restricted
- Usually free to deposit with and withdraw too
Betting Sites that take Ethereum
Many of the major online sportsbooks have already integrated to accept Ethereum, the world’s second-largest cryptocurrency  as an accepted method for making deposits and withdrawals. Websites such as Bovada.lv, BetOnline and MyBookie strongly urge customers to use Ethereum.
Some of the most-respected online sportsbooks even offer special promotions to customers who deposit with crypto-currency like Ethereum, rather than making deposits on international betting sites through traditional forms like debit cards, credit cards or bank transfers.
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Ethereum is a digital currency, often known as a cryptocurrency, which first became available in 2008. Ethereum is the second-most popular virtual currency in the world today and is widely accepted by online sports betting sites and casinos around the globe. Ethereum is growing in popularity for good reason.
One of the major positives to using Ethereum as a payment method is the fact it is based on blockchain technology, which is a decentralized technology. What that means for those using funds from their Ethereum wallet for online sports betting is that only you have access to your funds and data. Third parties are not able to track your transactions or interfere with them on the blockchain.
Another plus point is that many online sports betting sites accept Ethereum without charging a fee for processing a deposit or paying out your winnings. While it is still in its infancy, we expect Ethereum to continue increasing its popularity and more sites to accept it in the future.
Best Ethereum Betting Sites
Basically all major US and global sports betting sites accept Ethereum. The best Ethereum betting sites in our opinion are:
BetUS
Founded in 1994, BetUS has had to adapt and keep up to speed with the ever-changing landscape of the online sports betting market. BetUS offers Ethereum deposits, as well as a range of major card deposits and traditional bank methods, such as bank transfers and various e-payment platforms.
BetOnline
BetOnline is a modern bookmaker and has kept up to speed with the fast-moving cryptocurrency industry, offering a range of great cryptocurrency deposit methods, including Ethereum.
XBet
XBet has been in online sportsbetting game since 2014. The site offers some of the best cryptocurrency betting bonuses in the business, including deposits via Ethereum.
MyBookie
MyBookie has spent years building a first-rate reputation, which comes off the back of listening to customer demands. Crypto is the most popular deposit method for gambling and MyBookie offers some great crypto payment options, including Ethereum.
Bovada
Bovada first came online in 1997 and has established itself as one of the premium online sports betting providers to U.S. players. As a part of its continued commitment to its community of players, Bovada offers Ethereum and a range of other cryptocurrency deposit methods.
Many Bettors Deposit with Ethereum
Sports bettors are cashing in with Ethereum â a worldwide virtual currency and digital payment system making waves globally.
Vitalik Buterin, a Canadian computer programmer and an early cryptocurrency enthusiast, published a white paper explaining the idea behind Ethereum in 2013. A fund-raising project helped get the project off the ground and in July 2015, the Ethereum blockchain went live, allowing users to utilize Ethereum as cryptocurrency. The other founders of Ethereum are Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin.
Sports gamblers around the globe are tapping into Ethereum as a form of payments, especially on offshore international betting sites, such as Bovada.lv and BetOnline.com.
Here are some advantages sports bettors have when using Ethereum as a method of payment.
Ethereum Avoids Third-Party Issues
The Professional and Amateur Sports Protecting Act (PAPSA) restricts all but four U.S. states from legally betting on sporting events. That means the majority of Americans use offshore sportsbooks such as Bovada and BetOnline to get their sports betting fix.
While these sportsbooks welcome American customers with open arms, oftentimes banks and financial institutions make it harder for bettors to deposit money into their sportsbook accounts. Online sports betting transactions must go through a trusted third-party during processing, which usually results in deposits being blocked by banks. This comes down to the strict rules against sports betting in the United States.
Ethereum, which is a peer-to-peer payment system, helps customers avoid any third-party issues as you are dealing directly with sportsbooks.
Little to No Fees? Where do I Sign Up?
Everyone hates fees. Whether youâre buying or selling a stock on the market or withdrawing money from your sportsbook account, there is always a price to pay. With Ethereumâs blockchain system â a public ledger that records Ethereum transactions â there is little to no fee when using offshore sportsbooks, which take a percentage from your winnings when cashing out.
Processing fees are almost always waived when using Ethereum as a method of payment on Internet-based sportsbooks. Before making an deposit on a sportsbook, one wants to make sure of the fees and waiting time for deposits and withdrawals.
Ethereum Transactions in a Snap
The waiting game is over with the use of Ethereum. Bettors can now cash out their winnings and receive their funds in just minutes when using Ethereum in the payment process. Traditional bank transfers mean sports bettors may wait days, even weeks before the money is deposited into their accounts. Ethereum cuts down the wait time significantly for both deposits and withdrawals.
Ethereum Cuts Down Chance of Identity Theft, Fraud
Like any Internet-based business, there is always the chance of dealing with hackers, identity thieves and fraudsters. Ethereum cuts down that risk exponentially.
Instead of entering all your credit card information, Ethereum users are required to provide their address along with private and public keys. Because Ethereum is a cryptographic currency system, it makes it more difficult for criminals to hack into accounts and steal personal information. Ethereum is pseudonymous, which means funds are not tied to real-world entities, rather they are associated with an Ethereum wallet. To heighten security, a new address can be granted for each transaction â making Ethereum one of the safest currencies for sports bettors using international betting sites.
Why Players Use Ethereum as Preferred Payment Method
Once you start using Ethereum for yourself it quickly becomes apparent why players use Ethereum as their preferred payment method. Weâve already touched on Ethereum being anonymous, and this alone is a major factor in online sports bettors using the cryptocurrency for deposits and withdrawals â you will no longer have gambling sites showing on your bank account transactions.
Another reason for the popularity of Ethereum is the lack of fees associated with it. If you are a bettor who likes to move your bankroll around several different sports betting sites, the transaction fees can begin to mount up over time. However, so long as you deposit and withdraw the siteâs predetermined minimum deposit or withdrawal amount, Ethereum is usually free to use, leaving you with more money to place wagers with.
Finally, the value of Ethereum can fluctuate, wildly sometimes, which sometimes works against you, but can often move in your favor when you come to make a withdrawal. Exchange rates tend to be more stable these days, yet it is worth checking a Ethereum currency converter to see if the currencyâs value is moving in one direction or another.