Benefits Of Betting With Ethereum Explained

Online gambling exists in many forms, though the most prominent types are casinos, poker and sports betting. A growing trend within the digital gambling industry is the use of digital currencies, with the likes of Bitcoin, Ethereum and Litecoin among the top options. What about cryptocurrencies is so intriguing regarding online gambling? Are cryptocurrencies the future of online gambling? The answer is yes. And Ethereum looks to be slowly emerging as one of the best.

Ethereum gambling sites are out there and feature high-quality games for bettors, but what about the cryptocurrency makes it a preferred form of wagering? For starters, cryptocurrencies are unregulated. This means that Ether users can gamble without being subjected to any additional fees from banks or other third-party financial institutions. Ether gamblers get access to their full amount of gambling rewards. Processing times are also much faster with the alternative currency. Ether gambles can access their deposited funds typically within seconds of issuing the transaction. Withdrawn funds are also available relatively quick after making your request, whereas players using wire transfers, checks, etc., must wait before receiving their winnings. Deposit and withdrawal minimum/maximum requirements are more lenient than other methods, giving bettors more range on how much they wish to wager.

Aside from the financial benefits of legally gambling with Ethereum, there is the potential for heightened security. Currently, there is a platform running on Bitcoin-casinos known as Provably Fair technology. Provably Fair is a revolutionary concept where players can test the fairness of their games in real time. This means whether they are playing casino or poker games, they will be able to test the fairness of each spin, hand, etc., through a series of hash algorithms. While this may sound complicated, it is actually a simple process conducted through an easy-to-use interface.

Provably Fair is somewhat new, so there are not many cryptocurrency gambling sites with it, however, as players begin to use the technology more and more, the demand for it will rise. The technology is inherent to cryptocurrencies, and Ehtereum is on pace to overtake Bitcoin as the preferred cryptocurrency. This means that it is possible for Provably Fair to migrate over to Ethereum online poker rooms and online casinos soon.

Perhaps Ethereum’s most significant advantage is its blockchain, which supports smart contracts. Smart contracts are programs that run without any type of interference. Whereas Bitcoin is strictly a currency, Ethereum is a base for program development. This is exciting because as Provably Fair builds out, Ethereum developers may able to expand on the design and make improvements. There is also potential for other programs exclusive to the online gambling sector.

Ether users have several perks available to them, and countless more on the horizon. Cryptocurrencies are a novel concept, without any constraints from outside regulation, so their potential is limitless. Digital currencies have already begun revolutionizing the online gambling industry and show no signs of slowing down.