What is Ethereum poker?
Exactly what it sounds like: playing poker with Ethereum. Because of the peer-to-peer nature of Ethereum transactions, its popularity as a payment method among poker tables has risen. As a result, lots of poker sites have come up recently to meet the increased demand.
How do Ethereum poker sites work?
The same as regular online poker sites do. You generally have to sign up for an account and then deposit ether into it before you can start playing. Some Ethereum poker sites only allow payments and bets in ether, whereas other sites accept both ether and fiat currency (pounds, euros, or dollars) as payment methods.
You may have heard of Ethereum poker smart contracts, which works slightly differently to regular online gambling. ‘Smart contracts’ are pieces of code on the Ethereum blockchain able to handle transactions automatically. The code that runs a poker game can be written as a smart contract to make betting easier. During a poker game the smart contract holds all bets in escrow, allowing users to stake ether directly from their wallets (and receive winnings instantly) while playing poker directly against other users.
Right now, the technology behind poker smart contracts are still being developed, so be sure to bookmark this page as we will update you will the latest information regarding smart contracts when it becomes available. For now, Ethereum poker is mostly conducted within regular gambling sites.
What options are there with Ethereum poker?
- Tables with various limits. There are many different tables around, each with different betting limits. You will find some tables with a maximum 100 ether limit, whilst others might denote limits in fiat currency values.
- Many different varieties of poker. Like regular poker sites, you can play a wide variety of different games, from Razz games, to 5-Card Draw, to 7-Card Stud, to Texas Hold ‘Em, and many more.
- Tournaments. You can play a variety of tournaments with Ethereum poker. The good thing with Ethereum poker is that anyone can play high stakes tournaments, unlike on normal sites where these events are typically limited only to professionals. Some tournaments will have small prizes between 4 to 10 ether, whilst others will have incredibly high prizes of up to 100 ether or even more, depending on the site and table.
Find Ethereum poker bonus codes and free bets
Most Ethereum poker sites have bonuses geared towards both new and existing customers. These include free rolls that allow you to enter into tournaments without paying, rakebacks that let you take back a small portion of the rake that a site collects, and initial deposit matching, which can range between 50% and 200%.
Is depositing and withdrawing faster with Ethereum poker?
Absolutely. Fast transactions are one of the primary advantages of playing poker using Ethereum. Transactions on the Ethereum network are executed instantly, and are usually completed much faster than regular currency transactions or even those on the Bitcoin blockchain.
Are there limits on Ethereum poker tables?
Yes. Different poker tables usually have different limits. These include:
- Betting limits. A general betting minimum is around 0.01ether. However, the maximum is usually determined by the table you choose, as well as the platform you choose to use.
- Deposit limits. Often there’ll be a minimum deposit amount on Ethereum poker sites, but they are usually site-dependent. A general maximum deposit per individual transaction is 25 ether.
- Withdrawal limits. Most Ethereum poker sites don’t have withdrawal limits, meaning that you can withdraw all your winnings to your wallet in one go. However, of those that do, you might see fixed fiat currency withdrawal limits, such as £1,000 worth of ether a day, or £25,000 worth of ether a month.
What are the transaction fees when depositing or withdrawing?
Most Ethereum poker sites don’t charge anything for deposits and withdrawals. However, you will be subject to a network processing transaction fee by the Ethereum blockchain in (known as ‘gas’), which is usually a fee of under £1 worth of ether that goes towards miners for verifying your transaction.
Is Ethereum poker available on my phone?
Although you will not find many Ethereum poker sites with apps on the Google Play Store or App Store, most have optimised their websites to allow users to play poker easily via mobile.
Is playing poker with Ethereum legal?
This depends on where you are located. In the UK, playing poker with digital currencies such as Ethereum is completely legal. However, only poker platforms that hold a license by the UKGC (UK Gambling Commission) are permitted to provide Ethereum poker to UK customers. Our reviews will explain the regulatory status of all our recommended Ethereum poker providers.
If you are not based in the UK, be sure to check with your local legislation to ensure that you are being compliant with the law.
How do I know they’re not rigged?
Ethereum poker sites are not rigged, and you can verify this yourself. Legitimate sites use a concept known as ‘provably fair’, whereby they allow you to have a look at the algorithm used in the poker game or table. This allows users to verify whether the shuffle and deal of the cards was fair and random and ensure they’re not playing on a rigged table.
How do CryptoSuper.market’s reviews work?
Great question. Our team of crypto experts diligently researches both existing and new Ethereum poker sites and tables. We specifically focus on the following criteria when assessing a site: user experience, value for money, range of games, and security.
What are the risks of gambling with ether?
Honestly, there are very few, but they include:
- Fluctuations in price. The changing price of ether could mean you’re potentially gambling with more than you want to – but if you don’t intend on exchanging your ether for fiat currency this will not be important to you.
- Disingenuous sites. Just like regular betting sites, you may be gambling on a website or casino that runs disingenuous algorithms, which could be designed to benefit the service provider in an illegitimate way.
Ultimately, be sure to look at our reviews, as we will only provide you with secure and trusted sites.
And what are the advantages?
There are multiple advantages of gambling with ether, which include:
- Lower transaction fees. The processing fee for a network transaction on the Ethereum blockchain (‘gas”) is a low fee, usually less than £1 worth of ether.
- Faster transaction speeds. A transaction made through the Ethereum blockchain is automatically executed, meaning that transaction speeds are much faster as there is no intermediary that needs to process payment.
- Lower rakes. The rake (small cut taken from the pot by the poker site) for ‘normal’ poker sites tends to be around 5%, whereas with Ethereum poker sites this figure is commonly between 1% and 4%.
- Anonymity. Not all sites will give you total anonymity (although some automatically create an anonymous account for you), as you will need to create an account to play. But movements of ether to and from your wallet are anonymous, and typically all you’ll need to register for an account is an email address, making Ethereum poker far more anonymous than with regular sites.
- Decentralised poker tables. With smart contracts being developed to play poker through the Ethereum blockchain, users might soon be able to play peer-to-peer poker without a third party running the poker tables.
Should I play poker with Ethereum?
If you are a fan of poker and love the idea of playing anonymously, having your payouts process instantly, and paying lower fees, then playing poker with Ethereum could be a great option for you.
How do I get started?
This is the easy part. We have created a selection of sites and detailed reviews to guide you to the best Ethereum poker site to use.