Best Ethereum Sports Betting Sites

Best Ethereum Betting Sites Reviews

We’re now going to check out the Ethereum sports betting sites reviews included in the table.

Depositing on Betting Sites with Ethereum: The Good and Bad Aspects

Ethereum is a decentralized blockchain that enables the creation and execution of smart contracts. It was founded by Vitalik Buterin, a Russian-Canadian programmer, in 2015.

In simple terms, Ethereum is like a global computer network that allows developers to build and deploy applications on top of it. It provides a platform for creating and running decentralized applications (dApps) without relying on a central authority.

One of the key features of Ethereum is its capacity for executing smart contracts. These are self-executing agreements with pre-set rules and conditions. They automatically deliver once those conditions are met without needing third parties.

Ethereum’s native cryptocurrency is called Ether (ETH). It is used as a means of exchange within the Ethereum network. It also serves as an incentive for participants to validate transactions and secure the network through mining.

The Ethereum platform has become popular because it allows developers to create various applications. These include decentralized finance (DeFi) platforms, decentralized exchanges, digital collectables (NFTs), and more. It has opened up new possibilities for innovation and has the potential to revolutionize various industries by providing transparency, security, and programmability.

While there are plenty of good reasons to consider using ETH on sports betting sites, there are also downsides. Let’s investigate both.

The Good Aspects of Using Ethereum on Betting Sites

First, let’s investigate why so many people advocate using ETH for gambling.

Transparency

The blockchain, on which Ethereum is based, offers visible and unchangeable transaction records. As a result of this openness, there is less chance of fraud or manipulation, since anybody can independently confirm all betting activity and transactions on the website.

Security

The blockchain technology used by Ethereum is quite secure. It makes it impossible for bad actors to alter the data since it uses sophisticated cryptographic algorithms. As a result, users may feel more confident in the betting site’s legitimacy.

Decentralization

As Ethereum runs on a decentralized network, no single entity controls the system. In addition to removing the need for mediators, this lowers the possibility of censorship or unfair activities by a single business.

Smart Contracts

Ethereum supports the use of smart contracts for the execution of wagers. Smart contracts ensure that payments are made properly and without the use of go-betweens by automatically enforcing the agreed-upon terms and conditions. This makes the betting process more effective and reliable.

The Bad Aspects of Using Ethereum on Betting Sites

Now, let’s check out why you might hesitate to use Ethereum betting websites.

Price Volatility

Ether (ETH), the native cryptocurrency of Ethereum, is well-known for fluctuating in price. This implies that the bet value and potential gains are subject to substantial swings. Due to market volatility, users may see increases or losses in the value of their money.

Scalability

It is difficult for Ethereum to process transactions quickly, especially during intense network congestion. The user experience on the betting site may be impacted by slower transaction processing times and increased costs as a result.

User Experience

Although Ethereum offers developers strong capabilities, the user experience for non-technical users may sometimes be challenging. Certain technical expertise may make it necessary to interact with Ethereum and manage digital wallets, which could prove a barrier for certain consumers.

Regulation and Legality

The legal and regulatory environments for cryptocurrency and betting might differ significantly across nations. When running or using an Ethereum-based betting site, it’s crucial to consider legal ramifications and guarantee compliance with any rules present.

Adopting Ethereum on a gambling website provides programmability, security, and transparency thanks to smart contracts. However, before choosing to use Ethereum for betting purposes, it is important to thoroughly analyze aspects like volatility, scalability, user experience, and legal issues.

I’m Depositing with Ethereum; How Long Will It Take?

Ethereum’s TPS (Transactions Per Second) speed stands at around 27. The higher the TPS of a coin, the more transactions a blockchain can carry out per second. It helps you understand more about the speed and scalability of a network.

At present, ETH’s TPS is fairly low. For reference, Solana’s figure is an incredible 50,000! However, once Ethereum finishes its sharding update, its TPS could rise to 100,000.

However, you shouldn’t assume that a deposit into an Ethereum betting site will happen almost immediately. Its speed depends on the site you use and how busy the network is at that time.

If you use SuperSlots, you’ll benefit from a helpful guide to depositing crypto. Here is how to deposit on the site in a nutshell:

• Go to Cashier and choose your preferred coin

• Enter how much you want to deposit and use any promo code you have

• Scan the QR code with your crypto exchange; alternatively, copy the address

• Visit the crypto exchange you use and click ‘send’ or ‘withdraw,’ enter the amount, paste the address and send

• Remember, transactions are irreversible, so triple-check everything before sending

• If you want faster transactions, select the higher fee in your wallet or exchange

• According to the SuperSlots website, you should receive your Ethereum within 15 minutes

A Concise Guide to Betting Odds

One of the most basic mistakes punters make is to focus on their win rate. Your percentage of successful wagers is irrelevant if you don’t get the right odds. You’ll ultimately end up on the wrong side of the equation without regularly achieving value odds.

Below, I provide information on the basics of odds and the most popular formats. I also briefly describe the concept of value betting.

What Are Betting Odds?

When you talk about placing a bet on a sporting event or any other kind of wagering, the term “betting odds” refers to the numerical representation of the probability that a certain result will occur. They show the possible profit or return that might be made from a winning bet.

Depending on the country and the kind of sportsbook, betting odds are often represented in various forms. These include decimal odds, fractional odds, and American odds.

These odds include crucial details that help bettors judge the relative likelihood of various events and choose wisely when making bets. Let’s quickly review the three common odds formats outlined above.

Decimal Odds

This format represents betting odds in decimal form, sometimes called European odds. They are widely used around the world, particularly in Australia and Europe. The possible payoff for a winning wager, including the initial bet, is represented by decimal odds.

The odds value is shown as a decimal number larger than 1 in decimal odds. The figure represents a bettor’s total payout for each unit bet. For example, if you stake $20 at odds of 2.70, your return is $54 if you win (20 x 2.7). Subtract your wager from the return to get the profit. In this case, your profit is $34 (54 – 20).

Decimal odds allow bettors to easily determine their prospective wins without intricate computations. This format makes comparing odds from various sportsbooks and betting marketplaces easy.

Fractional Odds

The style used to describe betting odds often employed in the United Kingdom and Ireland is known as fractional odds. It is sometimes referred to as British odds or conventional odds. The possible return on a winning wager in proportion to the initial stake is represented by fractional odds.

Odds that are provided as fractions include 3/1 and 9/2. The second number in the fraction represents the initial investment, while the first represents the prospective profit.

For instance, if a wager is successful at odds of 3/1, the bettor would win $3 for every $1 staked. As a result, if a player bets $100 at odds of 3/1 and wins, they will collect $400, which comprises their initial $100 wager plus a $300 profit.

There are many ways of representing fractional odds, including “odds on” and “odds against.” “Odds on” refers to a possible profit smaller than the initial risk. For instance, if you bet at odds of 1/3, you risk $3 for every $1 potential profit. So, if you stake $30 and win, you will receive $40 back and a profit of $10.

In the UK, horse racing and other sports often employ fractional odds as a conventional method of providing betting odds. They may be more difficult to calculate than decimal odds, especially for those unfamiliar with the fractional system.

American Odds

American odds, usually called Moneyline odds or US odds, are a standard method for expressing betting odds in the United States. The two ways that American odds may be expressed are as positive (+) and negative (-) numbers.

American odds that are in the positive represent the probable return on a $100 stake. For instance, if the odds are +300, a bettor might earn $300 for every $100 staked if the gamble is successful. The initial $100 bet plus the $300 profit would make up the $400 total payment.

Negative American odds show how much is needed to bet to win $100. For instance, when the odds are -170, a bettor would have to stake $170 to make a profit of $100. $270 would be the entire payment, which consists of the initial $170 wager plus the $100 profit.

American odds represent the possible profit against a $100 baseline and are based on that figure. While negative odds indicate a favorite or more probable result, positive odds denote an underdog or less likely outcome. The odds also provide information about a wager’s risk and gain.

What is Value Betting?

Value betting is a tactic used by sports bettors to identify and take advantage of situations when the odds provided by a sportsbook are greater than the actual likelihood that a result will occur. In other words, value betting happens when the odds do not accurately reflect the expected probability of an event.

Value is based on the idea that bookmakers and sportsbooks periodically set odds incorrectly. This can happen due to miscalculation or because the bookmaker must balance its books. Bets, where the potential profit surpasses the perceived risk, are made by value gamblers who spot these situations.

A bettor balances their estimation of the likelihood of a result with the implied probability derived from the odds to evaluate value. The gambler may see a wager as value if they think the chances of an outcome are greater than the odds indicate.

For example, suppose you created a statistical model that works on NBA matches. One day, it tells you that the Boston Celtics have a 50% chance of beating the New York Knicks.

This means the ‘true’ odds should be 2.00 in decimal form. However, an Ethereum betting site has priced the Celtics at 2.50. This means the bookmaker believes the Celtics’ chance of winning is just 40%.

Assuming your model is correct, the above represents a terrific value betting opportunity.

Value betting requires a thorough evaluation, investigation, and understanding of the game or event being backed. It entails evaluating the outcomes’ actual possibilities and spotting differences between them and the odds provided by the bookmaker.

Ultimately, value betting is the only way to make money consistently on betting sites with Ethereum.

What Are the Best Kinds of Sports Bets?

The popularity of sports wagers varies depending on the sport, cultural preferences, location, and more. However, a select few bets are universally appealing, and I outline these below. For the sake of simplicity, I have chosen to use decimal odds, as these are the easiest to work out.

The Moneyline

In a Moneyline bet, you predict which player or team will prevail in a certain game or competition. The possible payoff is based on the odds for each club or individual.

Suppose you want to bet on an NFL game on an Ethereum betting site. You think the New England Patriots are good value to beat the Kansas City Chiefs at odds of 2.20.

As such, you wager $50 on this outcome. If the Patriots win, your return is $110 with a profit of $60. Most betting sites that accept Ethereum include overtime in Moneyline NFL wagers. However, it’s wise to check the site’s terms and conditions.

The Spread

The spread or handicap, which is the number of points by which the favorite team is predicted to win, is decided by the bookmaker. The punter then bets whether the favorite or underdog will cover the spread.

For instance, here is the spread for Los Angeles Lakers vs. Golden State Warriors NBA basketball game:

• Lakers: +6.5

• Warriors: -6.5

In both cases, the odds are 1.90.

The Lakers are the underdog in this scenario, shown by the positive (+) symbol. Meanwhile, the Warriors are the favorite, denoted by the negative (-) sign.

You decide to bet $100 on the Lakers to beat the spread. You will if the Lakers lose by six or fewer points since this bet gives them a 6.5-point head start. Suppose they lose 109 – 106, a three-point margin. In this instance, you win your wager and get $190 back for a $90 profit.

Over/Under

In an over/under bet, sometimes referred to as a totals bet, you bet on whether the final cumulative score of a game will be above or under a predetermined threshold established by the bookmaker.

Imagine an NFL game between the New Orleans Saints and Tampa Bay Buccaneers where the over/under is 48.5 points. As you think a high-scoring game is likely, you wager $20 on the ‘over’ side of the line. This means you need 49+ points scored in the match to win. In general, overtime points do NOT count.

Your wager would be profitable if the final score, for example, was 28-24 in favor of the Saints, totaling 52 points.

The total combined score must, on the other hand, be 48 points or less if you choose to wager on the under. Your wager would be successful if, for instance, the Buccaneers win the game 17-10 for a final score of 27 points.

Parlays

A parlay bet is a kind of sports wager that combines many smaller bets into a single, bigger one. Also known as an accumulator, a parlay must have all of its component wagers win to succeed. Parlay bets have bigger potential rewards and risks than single wagers since all bets must win.

Let’s look at a parlay where you pick three NBA teams to win. The win odds are in brackets.

• Los Angeles Lakers (1.80)

• Brooklyn Nets (1.70)

• Denver Nuggets (1.90)

In this case, each wager has its own odds, which represent the possible return on that wager. Let’s say you place a $10 stake on the above.

Your parlay wager is only successful if all three teams (Lakers, Nets, and Nuggets) win their respective games. The chances of each bet are multiplied to provide the probabilities for a parlay wager. Therefore, if all three wins, the combined odds are:

1.8 x 1.7 x 1.9 = 5.814

Therefore, a $10 bet returns $58.14 (10 x 5.814) for a profit of $48.14.

Incidentally, the percentage chance of this parlay succeeding is 17.2% (100 / 5.814).

Futures

A futures bet is a sports wager where you predict an outcome that will be determined at a future date. Typically, futures bets involve predicting the winner of a tournament, championship, or specific event that will occur in the future.

Let’s consider a futures bet in the context of the FIFA World Cup, which takes place every four years. Before the tournament, you decide to place a futures bet on the winner of the upcoming World Cup.

The Ethereum betting site provides the following odds for selected teams:

• Brazil: 5.00

• Germany: 7.00

• France: 8.00

• Argentina: 11.00

• Spain: 13.00

In this example, the odds indicate the potential payout if your chosen team wins the World Cup. The higher the odds, the higher the potential payout, and the lower the perceived likelihood of winning, according to the sportsbook.

Let’s assume you wager $100 on Germany to win the World Cup at decimal odds of 7.00. If Germany goes on to win the tournament, your bet is successful. In this case, you would receive a total payout of $700, including your initial $100 stake (your winnings of $600 plus your initial $100).

Prop Bet

Prop bets, also known as proposition bets, are wagers that focus on certain events or occurrences within a game or match. Unlike traditional bets that revolve around the game’s outcome, props allow you to wager on various markets. These include player and team performance.

Let’s consider an NFL football game between the Kansas City Chiefs and the San Francisco 49ers. Here is a prop bet that could be available for this game on an Ethereum betting website:

• Total Passing Yards – Patrick Mahomes (Chiefs): Over 300.5 (1.85), Under 300.5 (1.85)

This prop bet revolves around the total number of passing yards that Patrick Mahomes, the Kansas City Chiefs quarterback, will accumulate during the game. The sportsbook sets the line at 300.5 yards. You can choose to bet whether Mahomes will have over or under that number of passing yards.

If you decide to bet on the over and Mahomes throws for 317 yards, for example, your bet is successful. Conversely, if you bet on the under and Mahomes throws for 276 yards, you win your wager.

Prop bets add extra excitement to the game by allowing you to focus on specific aspects beyond the outcome.

Get Started with Ethereum Betting Sites Today

For many punters, Ethereum bookmakers are the gold standard. Fiat rivals have little chance of getting back players who switch to crypto.

Apart from anonymous play, you enjoy dozens of sports and hundreds of markets. If that isn’t enough, you can play casino classics like video poker, baccarat, slots, roulette, and blackjack.

You also benefit from more generous odds, exciting promos and VIP programs that add value to your user experience. Add limitless withdrawals and low transaction fees, and bettors are in heaven when they use Ethereum betting sites.