Benefits of Blockchain Gambling | Guide to gambling with Ethereum (Football bet Ethereum)

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What is Ethereum?

Founded in 2015 by a young Russian scholar, it is a kind of decentralized platform for creating and peer-to-peer publishing of smart contracts. Compared to Bitcoin, therefore, it allows the creation of smart contracts that can be considered digital money with a high programmability rate. To take advantage of the services of this network, Ethereum contracts need to pay for its computational power thanks to the unit of reference which is called Ether which therefore assumes both the value of an authentic cryptocurrency and fuel.

How is Etherium Gambling possible?

So now we know what is Ethereum and what are smart contracts (embedded into the ethereum blockchain). Gambling website can build its own applications interfacing Ethereum network and write a smart contract which users will use the smart contracts to play against each other or against the Oracle. The decision of who won and who lost is all upon the smart contract to decide without the Middleman to decide.
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How and where to bet?

As mentioned, slowly some bookmakers are also opening up to this type of innovation and it is certainly no mystery that, however, in the current state of things there is a trend that cannot but push people to reflect: all the online betting portals that have opened the doors to betting with Ethereum as both a payment and deposit method operate without Liceance like MGA or uk gambling commision.

What does this mean? Which are not recognized by the State and which operate without the license issued by the Customs and Monopolies Agency when it ascertains that the work of a given agency is compliant and fully respects the European state's legal system and laws.

This means that for this reason they could be closed and rendered inoperative and this would almost inevitably cause the total or partial loss of the capital deposited on your gaming account. One of the most famous portals among those that offer the possibility of depositing and withdrawing using Ethereum is Bitcoins Casino, which is certainly not the only one but is an example of the fact that, although it is the best known, it operates in any case without the necessary license.

Consequently, therefore, going to sum up, although for many the value of Ethereum will soon also end up exceeding Bitcoin, we advise you to entrust your bets mainly to bookmakers since these guarantee you certainties that, instead, other portals who do not have this license cannot insure you.

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