Ethereum is probably one of the most promising cryptocurrencies among all today, after Bitcoin. Moreover, cryptocurrency and online gambling seem to be created for each other, both taking place in the online, so gamblers at web casinos can benefit from betting with Ether.
Since Canadian punters have access to the majority of online casinos all around the world, they are advanced and educated in the niche of web gambling. Many of them take advantage of cryptocurrencies, making real money bets with digital coins. Learn the benefits of ETH for online gambling in this review.
There are many advanced gamblers out there who are aware of the benefits provided to them by digital currencies, at least in terms of gambling. However, the majority of punters still treat cryptocurrencies with caution.
But in reality, the opportunity to make deposits, bets, and withdrawals in crypto opens some brand new horizons, because digital coins offer faster and safer transactions, and sometimes, even exclusive games and promotions for the players, and all these benefits come from the nature of digital currencies.
If you are still not sure what benefits can be provided by cryptocurrency gambling, check out these features of crypto online casinos vs regular online casinos.
When you choose an online casino to play real money bets with your digital coins, don’t be blinded with lucrative bonuses that are almost too good to be true. Look for bonus Terms and Conditions first, and check if you are eligible for an exclusive crypto bonus, for general bonus, or no bonus at all (this is not a rare case). Avoid casinos with wagering requirements higher than x45, and low withdrawal limits for bonus winnings. These simple criteria will help you opt for the best casinos.
There are exclusive and popular casino games where betting is possible only with digital coins. The majority of those games are compatible with BTC casinos, but some casinos allow betting on these games with other coins. If there are no exclusive games, then watch out for the types of games you will be able to play. Live Dealer games or prograssive jackpots are usually unavailable for betting with crypto money.
The most important rule to remember is that the online casino has to allow both depositing and withdrawing in digital money. Some casinos accept Ethereum, but don’t allow withdrawals in Ether. This means the casino operator accumulates ETH for their own needs, while the player has to face the currency exchange expenses. Avoid such casinos and look for proper conditions applied to payment.
Positive reviews are important for any web gambling site, not only a crypto currency one. If you want a site accepting Ethereum, check what other people have to say about it. You can find third party reviews, or real users comments on the level of service and quality of games. Checking out social networks accounts of the casino is a good idea.
Same story with Customer Support. You always want it to be a good one, regardless of what money you use to bet in the games. What you want to see is a Live Chat and email address; having a toll-free phone number for quick connection is really an advantage. Don’t be shy to ask them a few questions in Live Chat, even if you are not yet a registered user; pretend you want to become one. Make sure you can talk to a human, not a bot, and see whether this human is even helpful.
Digital money for your gambling should be sent to the casino from an online wallet. If you have bought some ETH coins for betting, don’t store them all on your casino account; casinos are not financial institutions, and the rules change faster than you say mama. Store all your Ether coins in an online wallet, have some on balance for betting, and withdraw the winnings back to your online wallet.
At the time of writing, some of the popular Ethereum online wallets are Atomic Wallet, Guarda, Argent, Exodus, Jaxx, MetaMask, MyEtherWallet, Coinbase. When you collect enough coins, keeping them online will no longer be safe, so you want to store them in a cold storage. Cold storage is an outer disk that stores your money offline, and no one can steal it unless they get their hands on the cold storage physically. At the time of writing, the most popular storages are Ledger Nano X, Ledger Nano S, Trezor, KeepKey.
If you want to exchange digital money into fiat money, better avoid the exchange service of the casino, unless you have no other choice. But if you do, pay attention to the following services - Binance, Cex, KuCoin, Changelly.
Crypto money, including Ethereum, are allowed for buying and selling goods and services in Canada. So, it means gamblers are free to deposit, bet, and withdraw Ether in their punting activities. The location of the web gambling platform does not matter here; if the site is not operated from Canada, and accepts Canadian residents as real money players, then it’s all good.
There are no other regulations but the main two on digital coins - firstly, Ethereum is not official money; only Canadian dollar is official in the country. Secondly, Ether can be mined as a hobby, which is non taxable, or as business, which is taxable. Punters making bets in ETH do not have to pay taxes on their winnings either - as with other crypto currencies.
However, considering that Canada is very advanced in technological terms, we may expect more limiting regulations in the nearest future.
Ethereum casino Canada is a legal and legitimate type of entertainment; the only real requirement is that the site is operated from abroad. As for the digital coins, using them for betting is legally allowed, too.
To find that out, go to the Terms and Conditions page and check how they claim they store players’ funds. The operator has to clearly state that they keep the funds in cold storage, and pay the funds out in the fastest way possible upon the customer’s request.
To opt for the most beneficial and convenient platform, you can see our Ethereum casino list as an option. Another option is to explore platforms available on the market, check their reliability, security, and reputation.
If you need to indicate a promo code to claim a bonus, the site will state so on the Promotions page, and on Bonus Terms and Conditions page. If no promo code is indicated, most likely you don’t need one. However, if you are not sure, contact the Customer Support before you make a deposit.
Provably fair is a seal of trust, and a web gambling site can be considered provably fair when it is operated by a reputable company, has proper license and certification, and collaborates with decent software providers and payment processing companies.
If you want to play for free for the sake of fun, you can do so even without registering an account. Find a platform that allows playing games in Demo mode even for unregistered visitors, and enjoy free gambling. If you want to play for free and yet win real cash, you need to find a No Deposit bonus offer for customers who plan to deposit with digital money. But such offer is hard to find.
You can totally play Ethereum casino on a mobile device. Cryptocurrency casinos are usually technically advanced, so they are mobile compatible. Many of them even have official mobile applications.
Usually, a small fee is applied. However, it is smaller than the one applied to deposits and withdrawals in fiat money.
Before your winnings are processed via the Ethereum payment processing system, the operator will take from 24 to 72 hours to verify and confirm your withdrawal request. As soon as the request is verified, the transaction will be processed in a matter of minutes. But the general waiting time depends on how fast the operator handles the verification process.
This depends on each casino separately. Some operators allow betting on Live Games in crypto, some do not. Please check the rules of your preferred platform.
Reviewed by - Mike Hunter
Hi there hunter. I’m Mike, gambler and casino expert. Subscribe, grab your rifle, and let’s hunt down some juicy prizes!
