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While Bitcoin has had pretenders to its throne ever since that throne was constructed, it’s really only in the recent past that any of the plethora of coins have begun to stand out. The recent moves made by Ethereum have certainly demonstrated that it’s being taken very seriously on the crypto front – after all, most NFTs are hosted on the Ethereum blockchain.
So it seems reasonable to ask whether (and where) ETH may surpass BTC as crypto assets become an increasingly vocal part of the conversation. While the older coin may have the eternal advantage of being the more tried and tested asset, Ethereum certainly seems to be making ground in a number of areas, of which casino betting is increasingly felt to be one.
ETH vs BTC: Which do bettors favor?
Although long-time crypto gamers may use Bitcoin with their preferred casino and sportsbook providers, many new gamers and an increasing number of the early adopters are expressing a preference for the younger coin. This isn’t mere faddish following of the crowd, either – there are clear technical reasons why Ethereum casino betting is preferred.
For one thing, there is the speed of transaction. While Bitcoin deposits and withdrawals can take up to 30 minutes, ETH payment delays are all but non-existent; most complete in 15 seconds or fewer. In an industry that moves as fast as iGaming, that speed of movement is a huge selling point, and a big enough advantage over the more established coin to turn a lot of heads.
The unshakeable security of an ETH transaction is another element in its increasing popularity in this medium. Such transactions are signed at both ends in a smart contract, building trust in every transaction. This, in addition to the no-fee payouts that crypto casinos offer to Ethereum customers, makes it a very popular coin for bettors.
And speaking of payouts…
It shouldn’t come as a major surprise that crypto bettors have thought about the bottom line when it comes to which coin they tend to use; betting profitably is the end goal for anyone taking part in iGaming. This is another area where Ethereum has garnered a lot of positive attention. While it is a volatile asset, Ethereum is constantly rising in value, so it’s likely to be worth more when you cash out than when you deposit – which is an obvious benefit for any player.
There is an increasing list of reasons to consider crypto betting at casinos, whichever coin you choose to use. When you add ETH’s low fees (usually no fees) and smart contracts to the mix, it’s not hard to see why it’s being seen as the future of crypto-based iGaming. If you can name a potential benefit to using crypto assets, Ethereum is likely to be top of the list when it comes to offering that benefit. Bitcoin may have the crypto crown right now – and that may be the case for some time – but there’s no doubt that Ethereum has the upper hand when it comes to online casino betting.