As the second most popular cryptocurrency in the world, Ethereum has gained a lot of attention from investors, developers, and sports bettors alike. It’s no wonder that more and more online bookmakers are starting to accept ETH deposits and withdrawals. We’ve compiled this guide so that you can learn everything you need to know about betting on sports with ETH.
Ethereum Sports Betting
Ethereum sports betting is a new concept, but one that’s growing in popularity. Ethereum betting sites are legal and safe to use. These platforms are different from other online betting platforms because they accept ETH as well as fiat currencies.
You can bet on many types of sporting events with Ethereum sports betting. For example, you could place a wager on which player will win the MVP award for the NBA playoffs in 2020 or how many points will be scored at halftime of Super Bowl LIV.
How to Start Betting on Ethereum Sports Sites?
To start betting on Ethereum sports sites, you will need to
- Register an account at one of the many Ethereum sports betting sites. Most of these sites accept US Dollars, but some do not and can only be used with cryptocurrency such as bitcoin or ether (the tokens used in the Ethereum network).
- Deposit your desired amount of money into your account using either bitcoin or ether.
- Place a bet on your favorite team(s) or individual athlete(s) during major sporting events such as football matches, basketball games, and tennis championships using this currency as well as other cryptocurrencies if available at that site; note that Bitcoin Cash is not yet accepted by any Ethereum sportsbook at this time because it’s too new compared to other popular options like Bitcoin Core (BTC), Litecoin (LTC), Zcash (ZEC) and Monero (XMR).
- Wait until all bets have been placed before the game starts so everyone knows who won before they start playing their respective roles within each contest; once this happens then all bets will automatically become active unless there’s been something wrong with them beforehand.”
Most of the best sports betting sites that accept ETH are legal and safe to use.
When you’re looking for the best Ethereum betting sites, there are a few things that you should look out for.
Firstly, you want to make sure that the sportsbook is licensed by an official governing body in your country. This means that it’s legal and safe to use, unlike many illegal betting sites out there (that accept cryptocurrency).
Secondly, it’s important that the bookmaker accepts ETH as a payment method; this will allow you to fund your account with Ethereum and start placing bets instantly.
Thirdly, if possible look at what kind of odds or bonuses they offer before signing up with them. Some books will offer higher limits than others when it comes down to how much you can bet on certain matches – so it’s important that this aspect is taken into account when deciding which site suits your needs best!
What makes Ethereum betting sites different from other online betting platforms?
Ethereum sports betting sites are different than traditional online sportsbooks in a number of important ways. First and foremost, they’re decentralized. This means that there is no central authority that controls the site and makes decisions on how it operates—the people who use the site have control over its operation. This is what enables them to be transparent and secure, which gives users peace of mind about using Ethereum betting sites. The fact that these sites function without any interference from a third party makes them faster than other betting platforms as well; in addition, their lack of fees allows for cheaper bets overall (since you don’t have to pay an additional fee). Finally, since these aren’t controlled by one big company like some other websites are, they offer more fun options than traditional sportsbooks do because every player has equal access to everything offered within the platform!
How long should an online bookmaker take to process withdrawals in ETH?
The amount of time it takes for your withdrawal to be processed by an online bookmaker will vary significantly depending on the sportsbook, withdrawal method, and country you are withdrawing to.
The first thing that should be considered is how long it takes for an online bookmaker to process withdrawals in ETH. The average processing time for a withdrawal in Ethereum (ETH) is about one hour but this can vary greatly depending on the sportsbook, the amount being withdrawn and the country you are withdrawing from.
For example, if you were trying to withdraw 1200 Ethers from BetChain then it may take four full business days before your funds reach their destination account due to their stringent KYC policies which require all users who want to open an account with them must complete an extensive identity verification process before they can do anything else with the site. This means that all users must submit at least three pieces of identification documents such as driver’s licenses or passports along with proof of address documentation like utility bills containing both their names and addresses; otherwise they will have no choice but wait until they’ve completed this step before making any deposits or withdrawals on their accounts.
If you are looking for a fast and easy way to start betting on sports using the Ethereum network, then this guide should have been helpful. You should now know how to go about registering with an online bookmaker that accepts ETH as a payment method, as well as some of the things to look out for when choosing which site is best suited for your needs.