The online sports betting market has expanded to include several different cryptocurrencies. Bitcoin is arguably the leading digital currency, but some sports bettors are switching over to other types like Ethereum. These Eretheum sportsbooks host several advantages that heighten the overall online wagering experience. Perhaps the biggest advantage is that Erteheum is not tied to federal laws that complicate other transaction methods. This page is tailored to Eretheum sports gambling and has lots of helpful information to get you on your way to legal online betting.
All USA Online Sportsbooks Accepting Ethereum Deposits
Our team of online sports betting experts has compiled a list of the best available sportsbooks that accept Eretheum as a viable currency. Each one of these sites is USA-friendly. We screen each potential recommendation for items such as legal licensing, regulation, betting line selection, wagering types, customer service options, bonus incentives and more. You can examine these sites for yourself by clicking on the links provided in the table below.
Why Is Ethereum Popular Among US Bettors?
There is a federal law known as the Unlawful Internet Gambling Enforcement Act (UIGEA) that is tied to online sports betting. The UIGEA was passed in 2006, a time when illegal online gambling was rampant. There were also a lot of illegal financial activities taking place (money laundering, not paying out bettors, etc.). It aims specifically at banks and other financial institutions and how they process transactions with online gambling sites. It does not make online gambling illegal, but it does hinder transactions with standard methods.
If you go on an online betting site, you’ll notice you may be able to make secure deposits using your credit or debit card, but you certainly won’t be able to make a withdrawal back onto that same card. This is because of the UIGEA. Ethereum, being a cryptocurrency, is not tied to any sort of centralized bank or financial institution. It also was not around when the UIGEA was passed. Because of this, bettors can make deposits and withdrawals with no waiting for approval from their bank. Digital currencies are not included in the UIGEA’s enforcement, so bettors are not in violation of any laws by using them. The government has no say in Ethereum transactions, meaning Americans can send and receive Ethereum to and from international bounds.
What Is Ethereum?
Ethereum is a decentralized P2P digital currency type. It is similar to Bitcoin and Litecoin but has some distinctions that make it a unique entity. Like other alternative currencies, Ethereum runs on a public blockchain where miners produce Ether and monitor transactions. Ethereum’s blockchain also supports smart contracts, which are applications designed and performed on the blockchain. These smart contracts could eventually revolutionize the online sports gambling sector. Think of provably fair technology, which allows you to test the fairness of online casino games in real time, and apply that type of forward thinking to online betting.
Advantages Of Using Ethereum To Bet On Sports
There are multiple advantages to using Ethereum to bet on sports. Our team of cryptocurrency sports gambling analysts has put together a list of these advantages. After reading these, it will be easy to see why so many bettors have migrated over to the digital currency realm.
- Ethereum transactions are processed instantly. Other transaction methods require approval from banks or other financial institutions. With Ethereum, once your transaction is processed through the blockchain, which is completed instantly, you will have access to your funds.
- Ethereum is not hindered by the UIGEA. US bettors have a tough time with credit/debit card transactions. There is no reason to worry about Ethereum betting, as the digital currency is not covered under the UIGEA.
- Special cryptocurrency bonuses. Most crypto-friendly USA online sportsbooks have exclusive bonuses for cryptocurrency bettors. These come in the form of match bonuses, which is when the sportsbook matches your deposit by a percentage up to a certain amount.
- You will not have to pay transaction fees. Normally, online (especially international) transactions come with a fee. This means bettors will miss out on their full winnings. Since Ethereum is not a part of any sort of bank, there is no financial entity to pay fees to.
- Potential for winnings to appreciate in value. Cryptocurrencies fluctuate in the market. Since Ethereum is on the rise, it is possible to see your money increase in value without even betting more. Let’s say you have $1,000 worth of Ethereum from sports bets. That could jump to $1,500 if the market value moves.
- Ethereum transactions are anonymous. All you need to enter to finalize a transaction is the amount you wish to send/receive and the corresponding digital wallet address. There is no personal information attached to your transaction. For example, Ethereum transactions do not require you to enter a billing address.
- Ethereum is secure. Both online sportsbooks and digital wallets have safeguards in place to protect your personal and financial information. Digital wallets are designed to be very difficult to hack into.
Are Ethereum Sportsbooks Different Than Ordinary Online Sportsbooks?
The only true differences lie in the accepted transaction methods. Our recommended best USA sportsbooks are simply more inclusive, meaning they are cryptocurrency friendly. These Ethereum brands have the same betting lines, wagering types, security features, and customer service options. You can bet on the same sports teams, the same leagues and so on. There are also live and mobile betting options, just like you would find in an ordinary online sportsbook.