Ethereum Sports Betting Sites

Conceived in 2013 and released in 2015, Ethereum (ETH) is a decentralized, open-source blockchain which is essentially a digital ledger system that includes contract abilities. Ether is the actual cryptocurrency generated by the Ethereum protocol, and currently it is second in the world only to Bitcoin in terms of market capitalization. The biggest difference between Ethereum and Bitcoin in terms of usage as a currency is that Bitcoin has a capped limit to the number of coins created while Ethereum does not.

Ethereum is more than just a digital currency, though. It has several other applications, but perhaps its most notable usage today is in the creation of non-fungible tokens (NFTs). Each of these tokens are unique, and have been utilized represent a variety of collectible items including art, sports memorabilia and virtual items in video games.

Despite the volatility in the price of Ethereum, it has started to become accepted for deposits and withdrawals at more and more betting sites, including Bodog, Bet99, Stake and more.

With the latest merge of Ethereum 2.0, it’s probable that even more sports betting sites will become Ethereum friendly. These same sites that accept Ethereum will also often welcome Bitcoin, Litecoin, Ripple and other cryptocurrency players as well. 

Although it is a form of currency, Ethereum may take some time to get used to using for betting purposes. With some occasional wild swings in value on the open market, Ethereum has been known to rise and fall as much as 10% in a day, making the value of your deposit potentially change overnight.

But to make a deposit using Ethereum, you must first create a digital wallet, and then acquire Ethereum via the cryptocurrency marketplace. This can be accomplished quite easily via outlets such as Coinbase. Once completed, you’ll be able to use your crypto at businesses worldwide, including at many Canadian betting sites.

To make an Ethereum deposit at an accepting sports book, you’ll need to follow a few basic steps:

• Log into your account.
• Choose to “make a deposit.”
• Choose Ethereum as your deposit method.
• Link your Ethereum digital wallet to the betting site.
• Choose your deposit amount.
• Click “confirm.” 

Your transaction should be completed immediately with your account reflecting the deposited amount of Ethereum. From there, you will be ready to place bets using Ethereum.

If you deposited Ethereum into your account, you can later withdraw that crypto back to your personal digital wallet. However, you cannot deposit Bitcoin and withdraw to Ethereum or vice versa.

Yet, unlike other currency withdrawals which can take upwards of 3-5 days and include transaction fees, Ethereum withdrawal are instant and cost nothing to complete. This is one of the best benefits of Ethereum sports betting.

To make an Ethereum withdrawal, the steps are basically identical as making a deposit:

• Log into your account.
• Choose to “make a withdrawal.”
• Choose Ethereum as your withdrawal method.
• Choose your desired withdrawal amount.
• Click “confirm.”

Since you should have already connected your digital wallet to your account when you made your Ethereum deposit, there should be fewer required steps to complete your withdrawal. Also, as mentioned, your Ethereum withdrawal should be completed immediately.

Because of their price volatility, Ethereum and other cryptocurrencies such as Bitcoin are not as widely accepted as many other payment methods. However, some of Canada’s best betting sites do allow players to engage in Ethereum sports betting. These are our top recommendations for those of you wishing to bet using Ethereum.

While Bodog does offer a specific Bitcoin deposit bonus, it doesn’t have the same offer available to Ethereum users. In fact, we couldn’t find any special bonuses for those willing to use Ethereum. However, there are numerous other bonuses and promotions available at all of our recommended betting sites, including:

• Welcome Bonus: New players at all of Canada’s top betting sites are welcomed with a variety of bonus offers. This may include a match bonus which will match your initial deposit amount, or you may receive a certain amount of money to use for “free bets” in the sports book. Often times, a welcome bonus will also include free spins in the site’s casino.
• Refer-A-Friend Bonus: Some of Canada’s betting sites will reward you with bonus money should you refer someone to also join your favorite site. You simply email a referral link to a friend or relative, and once they create an account and make a deposit, you will be rewarded with extra money in your own account.
• VIP Rewards Club: A few Canadian sports betting sites offer players the chance to join their VIP or Rewards Club. By doing so, you will accumulate points in your VIP account which can later be redeemed for free bets or other similar incentives. There’s no cost to join the rewards club, so we suggest if it is offered, you should sign up immediately.

Because you must keep your Ethereum in a digital wallet, it is always available to you through your smartphone or tablet. Once linked to your sports betting account, you can always make an Ethereum deposit or withdrawal no matter where you are. Cryptocurrencies are 24/7 options, never requiring a bank or another company to certify your transaction. It’s just one of many reasons why using Ethereum at betting sites makes a lot of sense, and why more sports books accept this cryptocurrency.