ETH Casinos for Fast Payouts
Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.
Ether (ETH) is a major cryptocurrency, and its market cap is only second to Bitcoin. However, the applications of ETH are a lot more dynamic than the extremely popular BTC. Ethereum has allowed for the creation of a number of projects, including NFTs, DeFi, DEXs and other major developments that have piqued the collective interest of newcomers in the cryptosphere and trading veterans alike.
In the field of online casinos, ETH is known to have allowed for faster withdrawals at less cost. Crypto casinos are still a relatively new phenomenon and more casual players are also looking into crypto options to include in their portfolio.
This guide will help you understand the applications of ETH, why it is beneficial in casinos. By the end of this, you will have a better idea of what ETH is all about, and also a pretty good understanding of how these smart contracts work for you.
Ether, or ETH is a transaction token that is used on the Ethereum blockchain network. Ethereum doesn’t only set out to be digital money, but also seeks to be a truly global decentralised platform. ETH itself has some similarities to other cryptocurrencies as it serves a payment function. However, it differentiates in scope, as it is used to fuel the Ethereum network.
Instant ETH Payout Casinos
1. 1xSlots - Up to Bonus €1500 + 150 FS
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A long established casino, 1xSlots boasts a wide variety of games, over 10,000 to be exact, and also live casino games. Their top promotions are always changing, making for a great gaming experience. They also have numerous payment methods, including Bitcoin, Litecoin, Dogecoin, as well as Ethereum - all accepted on various crypto wallets. 1xSlots tries to keep registration easy and without fuss.
2. Fortune Jack Casino - Bonus Up to 1.5 BTC
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Fortune Jack is primarily a cryptocurrency casino, offering a wide array of crypto options to use on their platform. With specific crypto bonuses as well as a wide array of game titles including slots and table games, they’re a great one to try.
3. 20Bet - Bonus 100% Up to €120 + 120 FS
- Sports Casino
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20BET is an online provider of bookmaking services that was founded by a team of betting enthusiasts. They host a wide selection of betting markets and have a vast selection of payment methods and accept a wide variety of currencies including BTC and ETH. Their bonuses are some of the best, and can often be used across their sports and casino sections.
4. Winning Days Casino - Bonus of 100 Free Spins
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The adventure themed casino has a huge selection of games, a VIP program and also a great selection of payment methods. They accept a range of cryptocurrencies including ETH and Litecoin which you can use to play a variety of games on their site, and offer great free spins to be played across their hundreds of games - including jackpot slots.
5. Fastpay Casino - Bonus up to €150 + 100FS
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A casino that tries to remain true to its name, Fastpay offers fast verifications and also fast payouts to eWallets and crypto wallets. Their aim is for you to be able to receive your funds within 10 minutes, whether they’re BTC, ETH, or LTC. They have high roller games, plenty of tournaments, and great bonuses.
6. MaxCazino - Bonus 100% up to €500
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The team behind this casino are serious about safety and great gameplay. They promise no delays, hassles or lags. They host a great deal of games and payment options, including for players who use BTC/
7. CryptoThrills - Bonus of 250% up to 1BTC
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CryptoThrills is a casino designed for what it says - great gameplay on hundreds of top-notch games, special crypto-focused bonuses, and a wide range of accepted payment methods. You can get as much as 1BTC free when you deposit - so it’s worth getting your game on at this top casino.
8. BC.Game - Bonus Win up to 1BTC
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The team behind BC.Game aim to create an unforgettable player experience with the chance for people to win crypto. They are on a blockchain mission and cryptocurrency is at the forefront of this casino that offers original games along with slots and live casino. They accept any kind of crypto you can think of, including the biggest and smallest. Play using BTC, ETH, or even Doge or Tether.
9. Casinoin - Bonus 100% up to €200 + 200 FS
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An intergalactic casino that hosts a wide array of bonuses and weekly offers. Casinoin keeps crypto on the forefront with a range of payment options and crypto-friendly casino games available. While they primarily focus on Bitcoin, they also support top ups using ETH.
10. 7Bit Casino - Bonus of 100% + 100 FS
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7Bit casino is one of the top online casinos in the crypto world, with a huge range of games available as well as BTC, Litecoin, ETH, and Dogecoin payments available for players, as well as more traditional payment methods. Players love it, for good reason!
Crypto Withdrawals and Deposits
Using ETH to Gamble
Ethereum is certainly a versatile blockchain and its applications are varied. Another exciting development to join the list of ETH uses over the last couple of years is the application of cryptocurrency in casinos. At first, casinos solely accepted Bitcoin, as it was the more widely used cryptocurrency, though they have come to expand their accepted payment methods to further include other coins like Ether, Litecoin and others.
There are a few reasons why casinos have chosen to opt into the crypto world, and potential reasons why it could be an option for yourself.
One of the biggest benefits when it comes to operating on the Ethereum blockchain and using ETH is that the transactions are extremely fast. Fast transactions means that you will be able to deposit and withdraw a lot faster using ETH than you would using BTC.
Confirmation times using the Ethereum blockchain can be as fast as 30 seconds, so almost instantaneous. Though, there are instances where the transaction speeds can be hindered, this will be explored in a further section.
While there is an argument to be made that transactions via crypto does away with middlemen and the bank, thus reducing price, there is a chance that the price of transactions can be high. Now, this price is usually dependent on demand and how busy the network is. Although, with the advent of Ethereum 2.0 the price of gas should decrease, and the developers are looking into new ways to reduce gas fees.
However, be sure to check current prices, there are numerous websites you can use in order to check out current gas prices.
Security & Transparency
Ethereum is secured by the ethereum blockchain, individual nodes of the code together to verify and secure every transaction. Therefore, it is almost impossible to tamper or to interfere with ETH or transactions on ethereum as this all works together in tandem.
Ethereum blockchain also allows for more transparency in transactions. As all individual transactions are open source. This level of transparency ensures that no transaction can be faked or tampered. Allowing for transparency does not compromise confidentiality as the individual data is protected by encryption.
Though, this does not mean that it is immune to security flaws, as the security coding for dApps rely on the coding done by their respective developers. Make sure that any dApps or wallets you may be using are in fact secure and come from trusted developers.
All cryptocurrencies use blockchain to operate and each blockchain is coded for a specific purpose. Trying to wrap your head around it may seem like a bit of a daunting task at first, let’s have a quick overview of what is blockchain and its various uses before getting in on the nitty gritty of what Ether is.
Blockchain tech is used when multiple parties have to share data and transfer values without having to go through a centralised database. Some financial experts consider this practice quite risky, but blockchain operates via a combination of peer-to-peer networking, mathematics and cryptography that does away with the risks.
Transactions between one account to another can either be monetary or data transmissions.The monetary transactions are conducted using crypto, while data could be things like a comment, user name. When there are a number of transactions, or even bundles of them, this would be called a block and these individual blocks are what constitute a blockchain.
Every person with an account on the blockchain has their own unique signature, this informs people on which account initiated the transaction. When it comes to a public blockchain, anyone can access or write data. Different blockchain protocols serve a different purpose, and you can also store information on a chain. While accessing and reading data is free, adding writing to the public blockchain is often not.
What is Ethereum?
Ether is the native coin of the Ethereum blockchain and it’s used as the blockchain’s primary currency and method of payment. Ethereum can be used for a multiplicity of functions, such as storage of information on a decentralised network. This means that people can offer up some of the power on their computer to help maintain the network. This method of storing information is considered to be less vulnerable because not a single centralised entity is storing it and therefore is less likely to be lost.
Ethereum allows developers to create and run a multitude of applications. The apps range from games to decentralised finance apps to even databases, the limit is really the developers imagination.
These apps are run and built by “smart contracts”. These smart contracts operate similarly to traditional ones, where they establish the terms of agreement between one or more parties. Once the terms are met, the conditions are automatically executed without having to depend on another party to fulfill the contract manually. They operate on a basic principle of “if X then Y”.
The ethereum network itself supports building and running digital applications for both personal and business use. However, whether the transactions conducted on the dApp are information or monetary, a transaction fee known as “gas” needs to be paid. It is Ethereum miners who receive this fee, as they would be doing the job of verifying and processing transactions. Gas prices can change depending on current demand or how busy the network is.
Though, this soon should change by around June 2022 when Ethereum will fully shift to Ethereum 2.0, also known as Serenity.
How is Ether different from Bitcoin?
Bitcoin and Ether share some similarities, they are both assets that are based on a publicly displayed ledger which is blockchain. This ledger can be stored in digital wallets and can be used to trade on crypto exchanges.
Both of these assets are decentralised, meaning that they are not issued or regulated by a particular entity or bank. Their value is dependent on their demand, or the demand on
Their similarities essentially end there, because Bitcoin operates similarly to gold, it is effectively a digital alternative to national currency. Therefore its aim is not to create a wholly new system but rather to be a medium of exchange and a store of value. In fact, there is a limit on how much BTC can be mined, and its value will potentially only increase when it has all it mined.
Ether on the other hand is not quite an alternative to national currencies, but it serves to facilitate the operation of smart contracts and dApps. It allows individuals who provide hosting space to be awarded monetarily. Also, there is no actual limit to how much Ether can be mined or awarded, therefore there is no limit on how much ETH is in circulation.
Increasing your Return on Investment by Investing in ETH
In January 2021, ETH was worth USD 1,314, reaching its all time high within the same year at USD 4,865.57. That is an astounding increase in value, and would make a great investment as there are still new projects at work on the blockchain. Therefore, there is a chance you can increase your winnings further by investing and using ETH.
However, that being said, there is always a risk of a loss, while ETH performed extremely well in 2021 and has been consistently showing improvement, there is still a chance of market volatility decreasing your earnings.
Withdrawal Speeds for Crypto and Fiat Currency
The speed of cryptocurrency transactions is what makes it an appealing payment method. Provided that everything goes according to plan and you are a verified user, payouts can take mere minutes from the initiation of the transaction.
Withdrawing using Ethereum can even be instantaneous. Though, the price of using it is not static and can change according to demand on the network. You can also easily transfer it to an exchange in order to trade.
Cards are a great way of getting your money on hand and ready to use. However, please do note that some jurisdictions do not allow the use of credit cards on online gambling sites.
While a lot of the time transfers to your debit card takes less than 12 hours, there are also instances where it can take up to 3 days to get to your account. It is a very convenient method of payment as your money will be accessible to you without additional steps, however, be ready for any unforeseen delays.
Bank transfers are secure, if you are comfortable with sharing your bank details online. However, they can be the slower option of all of them and can take up to 5 days to clear. People have reported that they don’t usually take that long, but there is a possibility of that occurring.
There are also options of using instant transfers depending on the services offered in your country.
eWallets are an increasingly popular option for people, as a convenient way to manage their money. These allow you to make purchases online, and you also have the option to link it to your bank account.
The use of eWallets is great because they also allow for quick payouts. However, there are usually additional steps once the funds have been transferred to your eWallet before you can transfer it to your bank. Alternatively you can just use your cash on the eWallet itself rather than taking any additional steps.
Nowadays, there are a lot of options out there that allow you to get withdrawals faster. Though there are a lot of products to choose from, there can be some delays in your withdrawals that go beyond the control of the chosen payment method.
Every casino has their own withdrawal policy, and a lot of them share similar requirements, but casinos may have their own specific conditions. Payout conditions and withdrawal policies are set in place to protect the player and also to decrease instances of fraud. These regulatory and security obligations can slow down your withdrawals, but they are necessary to maintain a safe environment.
A wagering requirement is the amount of money or times you would need to place bets or play before you are able to withdraw any amounts you have won in bonuses.
The amount is usually stipulated by the casino and tends to be a specific multiplier. For example, it could be a cash Casino bonus with a wagering requirement of x20. This means that you need to bet your bonus amount twenty times before you can withdraw the bonus along with its winnings.
Some casinos may also apply a wagering requirement to free spins. However, in this case, the wagering requirement applies to the winnings of your free spins. Sometimes you may also need to deposit an amount prior to being able to collect your bonus.
These requirements are often dependent on the casino itself, and you would be able to find information on payouts and wagering requirements on the casino’s terms of service or payout policies.
Know Your Customer (KYC) is a security check that a company will conduct to verify who their customer is. Other than regulatory requirements, the check is done to ensure that the company keeps their operations safe and to reduce fraud and money laundering. It may cause your withdrawal to be delayed slightly, although it is worth the peace of mind knowing that the operator ensures that the person withdrawing or depositing their funds is a legitimate customer.
The documents required differ from operator to operator. If you look through a casino’s KYC or withdrawal policies they will likely list what documents they may require from you and also give you a timeframe indicating how long the process usually takes.
Here’s a list of documents casinos may ask you to provide:
- A valid government issued identity document (ID card, passport, etc)
- Proof of address with your name and address visible on the document, this could be a utility bill or a bank statement
- A photo of yourself with your document
- Documents indicating your source of wealth, this could be a payslip.
While the list is a general idea of what operators may ask you to provide, there is always the possibility that they may ask you for more documents or different documents. To get a clear understanding of what they may need, having a glance at their policies can help you get your account verified and then you’ll be able to withdraw.
In the terms and conditions of the casino you may also find that the operator has withdrawal limits in place. The withdrawal limit is a set amount of money you can withdraw over a period of time, this could be daily, weekly or monthly.
Limits are often set to minimise risk in case an account is compromised. Another important factor of limits is to make sure that the operator does not go bankrupt if a number of players experience a winning streak.
In fact, quite a few progressive casinos do stipulate that massive winnings are paid out in monthly installments.
ETH is a great payout method if you want to experience extremely fast payout times. The ethereum protocol is a secure blockchain and you can therefore experience fast payouts and security.
By far, it is the fastest withdrawal method, though it can be a little finicky when you first get to know the system of how to use crypto wallets on your computer or phone. Though, people do recommend having a physical hardware ledger that you can use to store your crypto.
Naturally, while the payout system itself is fast, it does not mean that it is immune to other factors like verification, security checks, withdrawal limits, and wagering requirements that can delay your withdrawal. While it can be a little frustrating, those procedures are in place for security.
When opting to use any form of cryptocurrency, you’re exposing yourself to potential volatility in the market. The volatility can work in your favour and increase your initial investment, but it can also work against you in case there is a sudden and very drastic shift in the market. Always exercise caution when dabbling in new forms of payment methods and keep an eye on the value of the crypto to know when to withdraw.
Can I gamble with Ethereum?
Yes, if your chosen casino accepts crypto payments then you should be able to deposit into your casino wallet using ETH. ETH gambling can happen with any crypto casino game, such as slots or a classic table game like blackjack.
Does Fortune Jack have a bonus for Ethereum?
Fortune Jack has plenty of promotions and bonuses, but players using ETH as their currency of choice can benefit from a 200 ETH jackpot on Fortune Jack’s best slot games. There are hundreds to choose from, including for players using fiat currency.
Are casinos that accept Etherum legal?
Yes, any casino that operates with a licence and also accepts Ethereum as a payment currency is legal. There are many legal cryptocurrency casinos. So long as they are licensed and have clear terms and conditions you will be able to play at them securely.
How do I play at Ethereum casinos?
To play at an ETH casino you simply need to register, make your first casino wallet deposit, and then pick a game to play at! Simply be sure to read the terms and conditions of any bonuses or withdrawal restrictions before you play.