Ranking of the Best eSports Bookmakers with Ethereum

In recent times, Ethereum has gained global recognition in the eSports world. Many bookmakers now offer it among the payment options. Making payments using Ethereum has a learning curve to it.

Unfortunately, some eSports punters might not be conversant with the workings of this cryptocurrency, and this has been a limiting factor among punters. Irrespective, Ethereum has been widely accepted in the online gambling industry, and the list keeps growing.

Ethereum was founded in 2013 and is headquartered in Zug, Switzerland. It all started with Vitalik Buterin, who birthed the idea, and was later joined by four other co-founders called Gavin Wood, Antony Di Lorio, Charles Hoskinson, and Joseph Lubin. The development work was crowdfunded and began in 2014.

The first time the network went live was on July 30, 2015, with 72 million coins. These coins or tokens are known as ETH or Ether. Ethereum has been implementing Ethereum 2.0, a series of upgrades that include a transition to proof of stake. The upgrades are aimed at increasing transaction throughput via sharding (splitting and storing a logical dataset in multiple databases).

Technically, Ethereum allows users to represent, trade, and use anything they own as NFTs. For example, tokenizing enables owners to earn royalties. A user can even secure a loan using tokens for something they own. The possibilities enabled by Ethereum keep growing all the time.

With Ethereum having gone mainstream, online casino players have been quick to take advantage of the benefits offered by this crypto payment. These include instant processing, anonymity, and the lack of intermediaries. ETH is particularly popular in the United States, Germany, Singapore, and the United Kingdom.

Before depositing with Ethereum, users must ensure they have enough funds to deposit in their Ethereum wallets. An Ethereum wallet is a service that holds ETH for the users. Users also need to check whether the bookmaker allows the Ethereum deposit method and the specific wallet of the user.

Examples of reputable crypto wallets commonly accepted by most bookmakers are Coinomi, Electrum, and Leafwallet. If the bookie does not accept Ethereum or the wallet, the punters may have to look for a different casino to use the payment method.

Users have to log into their choice of Ethereum-friendly eSports betting site to start the deposit process. They then have to navigate to the banking page and click on the payment options. Ethereum should be among the options. Clicking on the Ethereum option will load a page containing a unique code, usually made of several numbers and letters or a QR code.

The user then needs to log into their Ethereum wallet and go to the ‘send funds’ section to complete the deposit. Clicking on the button allows the users to enter the unique code from the online casino and the ETH amount to deposit. The transactions are typically processed within a few minutes, depending on how busy the network is. Ethereum also does not have any limits regarding the amount users can deposit in a day.

The process of withdrawing funds from Ethereum is fairly similar to making a deposit, only that it happens in reverse. For starters, players need to ensure they have enough funds in their eSports betting account to make the withdrawal. They also have to ensure the betting provider offers crypto withdrawals.

If the first step works out, the user can then log into their Ethereum wallets and get their address, usually a string of letters and digits. They can find the personal address in the users’ wallet apps under the ‘Receive’ section.

If it is not the first time withdrawing funds via the cryptocurrency from the same bookmaker, they can also find the address in the transaction history. Users should copy the address and paste it on the eSports betting account to avoid errors.

The users then have to log into their eSports betting sites and go to the Ethereum withdrawal option. Clicking on the option will prompt them to enter their Ethereum address. They can then paste the copied address in the corresponding field.

The users can then specify the withdrawal amount and submit the request. Different eSports bookies usually have other withdrawal limits, with some having no limits. Withdrawing on mobile is also possible if the eSports betting site is mobile-friendly.

Pros

• Secure: Ethereum is one of the most secure and safe payment options for eSports, thanks to the blockchain technology used.

• Low fees: Ethereum transactions usually cost much less than other payment options. Deposits and withdrawals are often free on most eSports betting sites.

• Decentralized: Unlike other banking options, Ethereum is decentralized. That means it is unlikely to be regulated.

• Reliabile: Ethereum has proven to be a reliable payment option with very little downtime.

Cons

• Price fluctuations: Ethereum usually fluctuates in price quite often. The market changes can result in the loss of value of the currency.

Online casino players should first create an Ethereum wallet to use the cryptocurrency. Creating an Ethereum wallet is uncomplicated. Players have to start by choosing the type of wallet to use. There are three different options to consider.

• The most common wallets are software wallets, where the ETH will be stored within secure software.

• The second and third alternatives are mobile wallets and hardware wallets. Mobile wallets store the coins on a smartphone, while hardware wallets store the coins in physical storage devices. Hardware wallets are considered the safest of the three, but only if the users can keep the physical storage safely.

• Next, the player must choose and open a reputable crypto exchange service account. The process might vary depending on the exchange service a punter picks. In most cases, the process usually takes only a few minutes. Punters can then proceed to fund their accounts. For that, they need to link their account to a payment source.

Most exchange services allow funding via direct bank transfers and the use of credit cards. Usually, there are no limitations for creating and using Ethereum wallets. However, users under 18 years might find it challenging to link payment sources as most source options have age limits.

Ethereum is decentralized. That means that no particular entity, person, or organization owns the cryptocurrency. As a result, there are no official support channels. However, numerous groups and communities can assist anyone with issues or queries.

Additionally, users can access customer service from crypto exchange service providers and wallet software providers. The nature of such customer support options depends on the service chosen. There is also a lot of information online from which Ethereum users can find the answers or solutions to their queries.