What is an Ethereum Casino?
There are no Ethereum only casinos out there. That being said, there are plenty of cryptocurrency only online casinos like mBitcasino.
The term Ethereum casino online basically means that the casino offers its members the opportunity to keep an Ethereum balance on their casino account. In addition to this, the casino games at the casino can be played using ETH to make bets.
- A casino that allows it members to keep an ETH balance
- Bets can be made in ETH on slots, table games, video poker, and so on
Since the acceptance of ETH by online casinos, many cryptocurrency-based casino players are switching to Ethereum to gamble online. This is largely because ETH transactions are much faster than Bitcoin's.
How do Ethereum Casino work?
To begin with let’s look at two types of Ethereum Casino:
1. Ethereum Casinos that Facilitate Deposits and Withdrawals
This type of Ethereum casino is much like any traditional fiat currency in regards to account and funds management. Players send their ETH to the public address provided by the casino. The casino will then instantly top up the account’s balance with the said amount of ETH transferred. Withdrawals can be sent back to your own public address, which subsequently will credit your ETH storage facility.
2. Ethereum Casinos that use Smart Contracts
Some Ethereum casinos facilitate smart contract betting, which means no deposit to the casino is ever made. Instead, a smart contract is created between the player and the Ether casino. If the player loses, the smart contract will be completed by sending the ETH to the casino. If the player wins, it will be completed by sending the ETH to the player.
In general, not too many casinos use this method, which was originally used for sports betting. Another point that should be taken into account is that it can take up to 15 seconds per bet, which can slow things down somewhat if you are playing slots.
Nevertheless, as their popularity grows, expect many more of these smart contracts-based Ethereum casinos to emerge in the near future.
- Funds are not held by the casino
- Payouts are achieved using open source code, so there is no interference at all
- On the spot payouts with no delay no matter how big your winnings are
- Can take over 15 seconds for bet to process
Ethereum Casino Games
We feature many ETH casino games in our lobby at mBitcasino, all of which are provably fair. We even provide numerous exclusive/custom titles you’ll not find anywhere else.
Slots: We all know that slot games are the most popular, and that’s why we offer thousands of them at mBitcasino. Our Ethereum slots collection contains a mix of classic and iconic titles and innovative and modern titles. You’ll come across Megaways games, bonus buy titles, mBit exclusives, and more.
Blackjack: If you prefer to practice your perfect Ethereum Blackjack basic strategy, then you’re covered at mBitcasino. In our Blackjack section, you’ll find numerous RNG-based Blackjack titles from some of the best providers in the industry.
Roulette: You’re never far from a Roulette Ethereum casino game either. We have countless tables offering each of the European, French, and American variations of one of the world's most recognizable casino table games.
Baccarat: Labelled the table game for high rollers, Ethereum Baccarat is another popular game you’ll find in the mBitcasino lobby. Don’t worry, having a big bankroll is not a requirement, our tables accommodate low, medium, and high-stakes betting.
Live Casino: If you prefer results determined by the law of physics rather than an RNG, our live casino is where you’ll want to be. We feature live games from Evolution and Pragmatic Play that deliver high-quality action in real time. From live dealer roulette and blackjack games to some of the best live gameshows in the industry, our ethereum live casino has everything you need.
Lottery, Dice, Keno, Video Poker: We also provide other casino games you can use your ETH crypto on. There are Ethereum dice games such as Craps and Lightning Dice, Ethereum Keno games, a wide range of Ethereum video poker titles, and even a variety of Ethereum lottery-style games.
In short, if you like to play casino games with Ethereum, you’ll not find a better selection than what’s offered here at mBitcasino.
Ethereum Casino Promotions
If you’re after even more value when making your ETH casino deposits, we have a range of crypto bonus deals you can take advantage of. On our promotions page, you’ll find a welcome bonus, match deposit bonuses, free spins, daily deals, a refer-a-friend promo and monthly promotions.
Welcome Bonus: For each of your first three deposits at mBitcasino, you can grab a 100% match and 100 free spins.
Stellar Club Rewards: build your Stellar Level each time you make a wager. Enjoy astronomical rewards like free spins on the Stellar Wheel, daily cashback precentages that increase with your rank, generous deposit matches, and more.
Mobile Ethereum Casinos
Nearly every online Ethereum casino has mobile technology, so players can gamble using ETH while on the move. As ETH gaming is quite a new concept, the difference between the selection of games available for desktop play and mobile play is usually very small, if not no difference at all.
Why Play at an Ethereum Casino?
If you like convenient, fast transaction time at a casino, Ethereum gambling is for you. ETH casino gambling is very safe, and there is little difference in terms of betting interfaces and gaming experience compared to fiat online casinos.
Many of the developers that provide Ethereum casinos with their games are the same big-name developers that you will see in fiat currency casinos. Microgaming, Evolution Gaming, BetSoft, Asia Gaming, and more.
Also, for US citizens, Eth is a great way to diversify your portfolio and remove borders when it comes to storing your money.
- Crypto Wallets that Support Ethereum. Another reason Ethereum has become so popular for online casino play is because of its easy storage. ETH is a widely accepted currency and nearly all digital crypto wallets have the option to store ETH. However, before using an ETH wallet always check to see if there is a condition that states that the wallet cannot be used to fund online gambling; such as Coinbase, and most other US based wallets.
- Instantaneous Withdrawals and Deposits Make ETH Gambling Safe. With there being so much hype out there in regard to keeping your cryptocurrency safe, some players may not feel safe leaving their ETH in a casino account. With the speedy transaction times offers by Ethereum casinos it means players can deposit, then play instantly. Once the player has finished, they can instantly withdraw their ETH. Even if you win a huge progressive jackpot, you do not have to wait for the casino to send you your winnings as you would with a fiat currency casino.
- Minimal Transactions. Well, you have to pay a fee, but its small. Deposits and withdrawals of ETH are free. Of course, there are the network percentages that need to be paid, but these fees are minimal.
Is Ethereum Gambling Fair?
Many of the online casinos that use games from well-known casino platform providers and developers can still use the traditional RNGs (Random Number Generators). Games from BetSoft and such like will always have the RNG feature attached. This is because in essence these ETH casinos are not on the blockchain. They are on the World Wide Web in the same way as any other fiat casino. The only difference is that the crypto casino accepts ETH as a payment method or only digital currencies.
On the other hand, casino that use smart contracts to govern their betting use an entirely different system that is still be perfected. This is system that decides the bet was “Provably Fair”.
This is a deterministic system that uses a number of nodes that share a consensus of “states”. Thus, making it a deterministic system in which each node is a seed.
- Serverseed is provided by the ETH online casino
- Clientseed is provided by the player’s system
- Nonce - This will increase with every bet
An encrypted hash of the serverseed prior to any bets being made. This cannot be changed as once you receive it, this will be the seed for your entire session. At the same time, because it is encrypted, there is no way you can hack it in order to predict the result. Your system then generated a random clientseed.
Once this process has been fulfilled within the smart contract, the nonce will start to increase in increments of 1. With this system in place, neither side can manipulate the game's results.
Is it Legal to Gamble Using Ethereum if I am a US Citizen?
Yes, it is in most states. The US government does not regulate ETH, so it is not considered legal tender. You can't use US dollars to fund a US wallet and then transfer ETH to an online casino.
Digital currencies are not legal tender. However, crypto wallets and exchanges in the US are still considered financial services and are taxable.
Federal laws in the USA prohibit financial institutions from helping US citizens make transactions with online casinos. This law also applies to US-based exchanges and crypto wallets.
FAQs
What casino games can I play with Ethereum?
You can use your Ethereum to play a wide range of casino games at mBitcasino. You can spin on popular slots, take your chances on table games, or even head to our live casino packed with quality games delivered in real-time.
How to choose an Ethereum casino?
There’s not much choosing to do as you’re already at the best Ethereum casino in town. If you must choose another, however, make sure the casino offers a good collection of games and a bunch of lucrative bonuses and promotions.
I do not have ETH. Do you accept other forms of payment at mBit Casino?
Absolutely, we’re not just about Ethereum casino gaming here at mBitcasino, as we support many other cryptocurrencies too. The full range of crypto we support is BTC (Bitcoin), BCH (Bitcoin Cash), LTC (Litecoin), ETH (Ethereum), DOGE (Dogecoin), USDT (Tether USD), and XRP (Ripple).