Bitcoin still ostensibly flies the blockchain flag to the rest of the world but the second largest crypto-currency, Ethereum has followed a similarly successful trajectory. The anonymous currency has been experiencing a burgeoning relationship with casino games over the last decade.

The Ethereum Network

Ethereum first came to be in 2014, developed by Vitalik Buterin, who at the time was the co-founder of Bitcoin Magazine. Buterin discovered an interest in decentralised systems when he awoke to find his World of Warcraft character had been debilitated by the developers overnight.

Ethereum itself is a DIY platform for dapps (decentralised applications) written in the Solidity programming language. Any dapp deployed to the Ethereum network is controlled by no individual person, not even the one who developed it.

Decentralised Systems

The Ethereum platform now has thousands of independent computers (nodes) running it meaning it’s fully decentralised. The goal of Ethereum writ large is to decentralise the internet entirely, moving the power away from the big technology firms that have a predominant stake.

Other potentially decentralised systems that have been proposed are the voting system, social media networks and real estate transfer records. Essentially, decentralised systems are networks of privately owned computers that work together to create one supercomputer.

Ether

Ethereum uses ‘smart contracts’ to verify the transactions between two or more parties and in that sense is a more complex system than that of Bitcoin. The currency used to incentivise the Ethereum network is called Ether which encourages people to support the network by using their computer as a node.

This is a similar system to how Bitcoin miners are, in essence, paid to maintain the Bitcoin blockchain. When people refer to the price of Ethereum, what they are actually referring to is Ether, the cryptocurrency.

Crypto-Casinos

People are increasingly discovering applications for blockchain technology and anonymous transactions. One such instance that marries well with crypto-currency is the world of online casinos.

Whether wagers are placed against one another or against the house, blockchain assists in demonstrating complete transparency of the transactions. This means casinos cannot hide the win probabilities and in consequence, the house edge that players will be up against.

Cryptocurrency eliminates the need for intermediaries like banks and thanks to automatic payments using smart contracts, also solves the problem of payment delays.

Provably Fair

Online casinos utilising blockchain technologies can offer their players a provably fair algorithm. This is where a unique random string of numbers (or a hash) is generated for each game which allows both parties to verify that no interference has taken place.

The Three Best Ethereum Casinos

3. BC Game is a provably fair altcoin casino that offers a comprehensive casino experience in a well-polished user interface. The games on offer range from traditional casino dice and card games to roulette and keno.

BC Game has its own token, the JB, which can be used to play any of the games available but other popular tokens are also accepted including Ethereum. BC Game feels more like a traditional video game platform than a casino and that’s an experience you will either like or dislike.

There are several loyalty rewards and achievements that can be collected over time in exchange for repeat custom. Each action performed on the website will contribute to your VIP level, with higher VIP levels receiving various perks. There’s also a Lucky Spin feature that can be used daily for free tokens and monetary bonuses.

2. RocketPot

Available in many countries worldwide, including the UK, where many crypto-casinos are blocked, RocketPot offers thousands of games and also sportsbook features. There’s a level system for return customers and if you manage to reach level 1,000, there’s a real life Lamborghini as a reward.

RocketPot has full mobile functionality so you can truly take your gaming on the go. At present, the site accepts six major cryptocurrencies and Ethereum is one of them.

We found there was a relatively low withdrawal limit which encourages players to play and withdraw regularly. Anonymity also comes as standard for RocketPot players and the sign-up process is simple and straightforward.

1. True Flip

True Flip is a well polished online casino that offers slots, blackjack, live casino and many more options for its members. Over 1000 games are on offer all contained within a sleek interface that puts all the action within easy reach.

True Flip’s customer service is well managed. Your personal virtual assistant, Chain, guides you through the initial learning process of the site and is always on hand should you have any questions or if you need to speak to a human representative.

The casino, licensed in Curaçao and Cyprus, also has its own cryptocurrency, True Flip Token, but accepts an extensive list of other tokens, too—including Ether. As a result, deposits and withdrawals are instant with no fees. Take advantage of the substantial welcome bonuses, achievements and tournaments on offer.

The Drawbacks of Crypto-Casinos

Scalability is an issue with crypto-casinos. The base volume of processor power increases daily and requires a growing draw of electricity. The environmental impact of this is significant and worsening.

Another issue is the mistrust and hesitation for governments to legislate in favour of cryptocurrency casinos. Cryptocurrencies do not benefit state governments who are looking to strengthen their own currencies and so the crypto-casino market is a young and volatile one.

There are obvious benefits of using decentralised currencies to game with and hence the industry is going through a phase of impressive growth. Unless governments worldwide begin to confront the situation—which is a very real and immediate possibility—crypto-casinos are likely to become more common in the future.