Ethereum Betting Sites in India: Bookmakers that Accept Ethereum (ETH) in May 2024
Ethereum, like its brother Bitcoin, has experienced a rapid rise in popularity thanks to the cryptocurrency boom and is now a viable and secure way to fund your sports betting. It certainly qualifies as the second-most popular cryptocurrency behind the undisputed king that is Bitcoin. While the application of these two digital currencies vary greatly, they more or less function the same when it comes to online sports betting. In this article we’ll expand on exactly how to use this crypto giant in India.
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You can also check out other payment methods accepted by Indian betting sites.
Bookmaker Sports Betting with Ethereum: Reliable and Secure in India
One of the calling cards when dealing with any cryptocurrency, including Ethereum, is safe and secure transactions. The nature of cryptocurrency and blockchain technology makes this payment method one of the best options for users that are particularly interested in having their information protected. This is down to Ethereum being decentralized and all transfers being completely anonymous aside from a public key (cryptographic code).
What this means is that there are no real life connections between your Ethereum transfer and you. Your name, address, bank account, ID number, etc. are not provided when making a transfer with ETH. This also means that this type of information will not be stored in databases as there is no need for third-party verification. Thus, you won’t have to worry about data breaches and targeting hacking.
ETH: Depositing with Ethereum for your Sports Bets: Quick and Easy in India
Getting your betting account set up with an Ethereum payment is relatively straightforward. However, there are a few steps, particularly in the beginning, that you’ll want to pay extra attention to. Continue reading for further information.
How do I register with Ethereum to place a bet with an indian bookmaker?
The process of buying and sending Ethereum operates much in the same way as other online wallets. Below we’ll highlight the important steps that you will need to now when looking to make a payment with Ethereum in India.
- Register with a crypto wallet
- Purchase Ethereum through the wallet
- Once the purchase is complete, you should see the ETH available in your balance.
- You will next be looking to transfer your Ethereum from your crypto wallet to your bookmaker account.
- Navigate back to your preferred betting site, head to the cashier, make a deposit, select Ethereum as the deposit option and enter your desired amount.
- The betting site will provide you with a wallet address, of which you must send your deposit to.
- Copy the wallet address to your clipboard and return to your crypto wallet.
- Select the option to transfer cryptocurrency and paste the bookmaker’s wallet address as the destination.
- Your funds should be available at your sports betting site usually within 20-30 minutes.
While it may seem like this payment method has a few more steps than average, you’ll find the process to be almost identical to that of any other digital wallet. Once you are used to the process of purchasing crypto and sending to wallet addresses, it should become second nature.
How Do I Place Sports Bets with Ethereum in India in 2024?
As we mentioned previously, once you have opened your own cryptocurrency wallet and have purchased Ethereum, it will only take roughly 20 to 30 minutes until those funds reach your betting account. Once that’s done, you can begin betting!
With the rise in popularity of cryptocurrency over the last 10 years, it’s only normal that sports betting sites have adapted. There now exist certain bookmakers that deal exclusively in crypto. This means that you can place bets in your preferred coin, with Ethereum of course being one of those options in many cases. This certainly has its appeal, especially if you would rather keep your assets as Ethereum instead of converting them to FIAT currency just for the sake of depositing.
Is it Possible to Use ETH to Withdraw Money from an indian Sports Betting Site?
You’ll find that most payment options that offer a deposit will also offer the possibility to withdraw. This allows betting sites to keep their “closed loop policy” which many of them implement, which simply states that the same method used for depositing must also be used for withdrawing.
While not all betting sites in India will offer cryptocurrency payment methods, the ones that do will usually have Ethereum as a deposit and withdrawal option. Ethereum is the second largest and second most popular cryptocurrency behind Bitcoin which makes it a common payment option for those who utilize crypto payments.
The process for withdrawing funds with Ethereum in India is almost identical to that of depositing. After specifying your withdrawal amount, you’ll then enter the wallet address of your personal crypto wallet. Similarly to depositing, users will only have to wait a short amount of time to receive their funds. 1xBet lists a processing time of only 15 minutes as an example when withdrawing with Ethereum.
Ethereum Fees: Do They Exist for Sports Betting in India?
Bookmakers do not charge extra fees for Ethereum in most cases. We found this to be true for the majority of payment options in India across the board in 2024. However, cryptocurrency transfers and payments usually come with a transaction charge attached, which can vary slightly depending on which crypto wallet you use. The good news in this regard is that the fees for Ethereum transfers are quite low. The most recent average transaction fee for ETH is listed at just 0.0005, or the equivalent to ₹107 (1.30 USD).
Does Ethereum have Minimum and Maximum Deposit Amounts for indian Online Bookmakers?
Ethereum minimum and maximum deposit amounts will vary depending on the bookmaker in question. This is down to the betting sites themselves being in charge of setting their own limits. You will also find that different payment methods often have different minimum and max limits. Netbanking could have different limits than Phonepe, for example.
From our research, we’ve found that Ethereum limits are often quite reasonable, with relatively low minimum limits and high maximum limits. 1xBet, for example, has a minimum Ethereum deposit limit of ₹4,150 (50 USD) while Betwinner’s minimum Ethereum deposit is only ₹80 (1 USD). Remember that deposit limits can often be changed simply by sending an email to the support team.
Which indian Bookmaker Mobile Apps Can I Use to Bet with Ethereum?
With the rise of mobile betting over recent years, almost all betting sites these days will offer either a dedicated app or a highly-optimized mobile site through a web browser. For the users, this is great news as you won’t miss out on any of the features of the desktop version. This extends itself to cashier options on the bookmakers as you will find all deposit and withdrawal options available regardless of which version of the betting site you are using. This lends itself extremely well towards making payments with Ethereum and all cryptocurrencies for that matter. Crypto wallets can also be used exclusively on mobile devices, making it convenient to handle every step of the deposit and withdrawal process from your phone.
Which Is the Best Betting Site for Ethereum in India?
We’ve listed out below the best online bookmakers in India that we would highly recommend if you are interested in making a payment with Ethereum. There’s a good amount of variety here, from sites that offer fully crypto betting such as Stake to more traditional bookmakers such as 1xBet and Dafabet.
- 1xBet
- Stake
- Dafabet
- 10cric
- Betwinner
In a Nutshell: Why Use Ethereum at Your Bookmaker for Online Betting in India?
Ethereum has established itself as the second most popular cryptocurrency in the world and certainly has staying power. Many believe that Ethereum has even more overall utility than Bitcoin does, due to it operating more as a blockchain network rather than an alternate form of currency. This means that it is likely to hold its value going forward into the future with much less volatility as some of the smaller coins.
For sports betting, the advantages are clear: extremely secure, decentralized, anonymous and fast transfers which only require a small transaction fee. It allows for bettors to make deposits and withdrawals in a matter of minutes, all while being able to keep their bank account and credit card information out of the equation.
Payment methods for betting sites in India:
- Bitcoin Betting Sites in India: Bookmakers that Accept Bitcoin
- Paytm Betting Sites: Bookmakers in India that Accept Paytm
- Best betting payment methods for online bookmakers in India
- Litecoin Betting Sites: Bookmakers in India that Accept Litecoin
- PhonePe Betting Sites: Bookmakers in India that Accept PhonePe
