Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third-party interference. Ethereum is also a cryptocurrency, meaning it is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions and to control the creation of new units.
Ethereum was invented by Vitalik Buterin, a cryptocurrency programmer and active community member. After publishing the white paper for Ethereum in late 2015, he was joined by another six members to form the original core development team. As of 2017, the team has grown to over 80 developers as well as hundreds of other contributors and volunteers.
These developments have allowed many companies to create their own markets or platforms using Ethereum. However, this also means there are a number of additional actions that must be performed by the end-user for these businesses to run smoothly.
How Did Ethereum Become The Second-Largest Cryptocurrency?
The sudden boom in Ethereum’s price is due to many reasons. One of the primary reasons for its growth is the backing of corporates, organizations, and institutions like banks across the world. The next biggest reason would be that ETH has become one of the most common coins to trade on cryptocurrency exchanges right now. The other factor could be the relative ease of mining ETH as well as the fact that it is deflationary in nature.
Bitcoin does have some real-world uses, but it is clear that the cryptocurrency market is being driven by Ethereum. There are infinite reasons why one should choose ETH over BTC. Some of the major reasons include the easy mining process, transaction speed, and deflationary nature of this crypto.
What Are Ethereum Bookmakers?
Ethereum bookmakers, also known as ethereum sport betting sites, is a platform where you can place bets on various different esports game matches. If you are interested in this kind of gaming then it may be the best option for you.
Before we talk about how these platforms work, let’s take a look at some of the reasons why you should use such platforms.
First of all, it takes away the stress of finding a place that allows you to bet on your favorite games and websites. You can find players who are part of this community and bet with them as well. The biggest reason is that these sites payout automatically so there is no need for constant checking.
Ethereum bookmakers’ platforms are decentralized in nature which makes them transparent and secure for all their users. The website admin has no control over the funds deposited so you can rely on this platform. There is no worry of your accounts being hacked or someone trying to take over your betting tokens without your permission.
You will also find that e-sports betting is quite common in the crypto world. The reason for this is that these platforms can be used by anyone no matter what country he or she lives in. There are even some betting sites that accept cryptocurrencies natively like bitcoin and others.
Ethereum bookmakers are based on smart contracts which makes them fast, secure, and reliable to use without any interference. Since these contracts are stored on the blockchain, there is no chance for fraud and illegal activities to take place.
How Popular Are Ethereum Bookmakers?
Ethereum blockchain has certainly ushered in a new era of e-sports betting. At the time of writing this, there are almost 50 ETH online bookies running successfully with more than 500 different markets for smart contract bettors to choose from.
It is quite popular among crypto enthusiasts but still lags behind Bitcoin as a gaming currency. The reason behind this is that most online casinos are using bitcoin as the preferred crypto. Plus, there are numerous sites that allow you to play with BTC for free. On the other hand, ETH casinos are still in their infancy stage and lack user-friendly features compared to BTC gaming platforms.
Which Gaming Currencies Are Popular?
Bitcoin has certainly become the currency of choice for online casino players. It is the market leader and dominates about 70-80% of all sportsbooks as well as other casino platforms out there.
You can also find some Ethereum bookies which allow you to play ETH and LTC as well. Litecoin is quite popular and has a number of advantages like faster transaction speed and low commission charges.
Pros of Ethereum vs Bitcoin
Ethereum is the clear winner when it comes to smart contracts which makes this currency popular among online casino players. Plus, ETH allows users to use their tokens for other activities such as voting and messaging. It is also deflationary in nature which makes it suitable for gaming purposes.
However, there are some disadvantages that you need to keep in mind while playing on smart contracts. First of all, the transaction speed is quite slow at times which can create issues while playing with ETH tokens. Other than this, Ethereum is not very popular when compared to Bitcoin so finding players may be difficult sometimes.
Why Choose Ethereum Bookmakers?
This platform is ideal for those who want to play with Ethereum and bet on their favorite games and websites. Plus, these platforms offer a number of features that you will not find anywhere else.
For example, there are sportsbooks that allow you to place bets as low as 0.1 ETH so beginners can also use this platform without any problems. Plus, there are no KYC requirements which means that you can place bets anonymously.
The most important thing to remember is that you should always do your research before making a bet. Bitcoin and Ethereum are both popular currencies but you need to find out which one suits your needs the best. As mentioned earlier, Bitcoin is still the market leader for online gaming so it may be difficult for new players to find THE bookies at times.
Even so, based on the advantages of smart contracts and Ethereum’s popularity in the crypto world, you will be able to find more betting platforms that offer ETH!
The Future Of Ethereum Bookmakers
Ethereum is certainly the future of online gaming and it will be interesting to see how platforms like Ethereum bookies develop in the coming years. With decentralized casinos gaining popularity, this platform may become more useful for users all over the world.
There are many advantages offered by smart contracts and these can certainly help ETH bookies revolutionize the online gaming industry. Plus, sites like these will continue to improve and offer a better experience for everyone involved.
Overall, Ethereum has certainly improved the lives of users all over the world and it may become one of the most popular platforms for online betting in the future.
Final Thoughts
Ethereum bookmakers certainly have a lot of advantages like transparency, anonymity, and security among others. These platforms are gaining popularity quickly all over the world even though it is still not as popular as Bitcoin for gaming purposes.
However, the best part of playing on smart contracts is that your internet connection does not matter. There are no lags or speed issues which means that you don’t have to depend on your mobile internet quality for smooth gameplay. This also makes ETH betting ideal for mobile users who want to enjoy esports games without any interruptions.
