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Ethereum Transactions UNLOCKED at Online Gaming Giant

Ethereum Logo

Bovada, Ignition, Bodog, and several other sister sites have elected to get behind the Ethereum crypto-currency. On May 14, 2021, these brands on the PaiWangLuo Network debuted Ether Token (ETH) deposits and withdrawals for their customers. Ether thus joins the list of supported digital assets at these popular internet gaming destinations, which had previous enabled transactions involving Bitcoin, Bitcoin Cash, Bitcoin SV, and Litecoin.

In addition to their standard bonuses and promotions for all customers, these poker, casino, and sports betting providers also feature special offers exclusive to crypto depositors. All of these special deals have been extended to users of Ethererum.

PaiWangLuo Accepting ETH Tokens

Why Transact on the Ethereum Blockchain?

Red Question Mark

It's understandable that these online gambling parlors would wish to increase their crypto exposure given the ongoing boom in digital coin valuation and market penetration. However, some may wonder why the Ethereum Network and its associated Ether Token is the natural next step rather than some other crypto coin.

The PWL Network already deals in Bitcoin and several other cryptos. ETH was the largest one, by market capitalization, that was not yet accepted at these websites. At $444 million as of May 15, 2021, the value of all outstanding ETH is about half that of Bitcoin and several times more than any other altcoin. Thus, it makes perfect sense that it would be the next one to be supported.

Beyond just size, there are several other advantages to transacting on the Ethereum blockchain. Blocks are mined quite a bit faster than on the Bitcoin blockchain. This becomes very evident when we look at historical average block times for the past six months:

Graph of Crypto Block Times

The speediness of the network has the natural consequence of allowing more ETH transactions to be processed in any given time period:

Graph of Transactions per Day BTC vs. ETH

Ethereum has been designed from the ground-up to support decentralized apps and smart contracts, both of which are cumbersome with legacy Bitcoin. Therefore, the gaming industry is catering to developers of these innovative applications by adding ETH to the menu.

Granted, the sites we're discussing today don't currently use DApps or smart contracts within their gaming suites, but there are unquestionably intangible benefits to appealing to customers on the bleeding edge of technology. These advantages may become more apparent further on down the road.

Ignition Ethereum

Ignition Cashier - Ethereum

Ignition offers casino games and poker tables in a couple of the most heavily regulated gambling markets in the world: the United States and Australia. By deploying Ethereum compatibility now, Ignition is demonstrating its commitment to finding fintech solutions that work for its customers in these jurisdictions.

Bovada Ethereum

Bovada Cashier - Ethereum

As perhaps the most famous online sportsbook, casino, and poker room in the United States, Bovada certainly has an incentive to keep users' money flowing into and out of the site. With Ethereum, it can do just that, bypassing cumbersome and outdated banking restrictions.

Cafe Casino Ethereum

Cafe Casino Cashier - Ethereum

Cafe Casino is another USA-only brand, which allows it to cater to its geographical service area with a laser-like focus. The fact that it is now deploying Ethereum cashier functionality means that it recognizes the advantages of this crypto-currency for its customers.

Slots.lv Ethereum

Slots.lv transacts in both the United States and Canada. ETH tokens are valuable to people in both locations particularly those who wish to have full control over their own finances without the government stepping in to tell them what they can and cannot do.

Bodog.eu Ethereum

Bodog.eu is a Canada-only sportsbook, poker room,, and online casino. Though the situation for online gaming in the True North, Strong and Free is less dire than it is in the States, there is still a role for Ethereum to play particularly among the more libertarian-leaning segment of the population.

Bodog.com Ethereum

Bodog.com welcomes players from several South and Latin American countries. Many of its users have first-hand experience with the ways in which governments can mismanage their economies, and many of them are turning to Ethereum in order to keep their money away from the machinations of politicians.

Joe Fortune Ethereum

Despite what some may believe, the online casino industry in Australia still exists, thanks to the efforts of Joe Fortune and other organizations willing to defy the whims of Canberra. Ethereum provides a solution for Aussies who might find other payment methods blocked by meddlesome bureaucrats.

How Can I Deposit ETH for Online Gaming?

Moving Money Around World on PC

Despite the complexity of the technology comprising Ethereum, depositing ETH tokens at one of the above mentioned gaming destinations is actually a fairly straightforward and simple process. We have conducted a test deposit at Ignition Casino, but depositing at one of Ignition's sister sites should be pretty much the same with only minor changes.

We begin our journey at the website of Ignition. Once you log in to your account, you will have access to the top-right “hamburger” menu.

Ignition WebsiteThe Ignition Website

From this menu, press the big button that says “Deposit.”

Ignition Top-Right MenuIgnition Top-Right Menu

Several options will be presented to you, and some of them may vary depending on your geographic region and the history of your account. Select Ethereum from the list.

Ignition Deposit MethodsIgnition Casino Deposit Options

Now Ignition will show you the deposit form, which has an address to which you need to send Ether tokens. This address is shown in both QR and text forms, so you can either scan or copy-paste it depending upon the wallet you're using.

Along with the destination ETH address, you will see the exchange rate Ignition is using. However many ETH you send (as long as it's above the 0.01 minimum) will be converted according to this rate and the corresponding amount of US dollars (or other fiat currency) will be credited to your account balance.

Ignition Deposit FormDeposit Form at Ignition

The exchange rate is guaranteed until the time indicated. Any Ether tokens that you send within that time window will be honored at the stated rate even if the market rates for ETH have shifted in the interim.

The deposit form contains a list of bonuses that you're eligible for, and you can also enter an Ignition Casino bonus code if you want. Of course, it's perfectly possible to make a deposit without claiming any promo code.

When you're ready, open up your ETH wallet and transfer over as many tokens as you want to the address provided by Ignition. You don't have to inform Ignition of the amount you are sending; as long as you meet the minimum deposit threshold, Ignition will process as many ETH tokens as you send.

IMPORTANT NOTE: The address shown on this page is intended for ETH tokens and ETH tokens alone. If you attempt to send another type of crypto asset to it, you might wind up losing your coins IRRETRIEVABLY without receiving any credit to your Ignition account. Make sure you are sending ETH before finalizing the transaction in your wallet.

After sending your tokens, click on “Done” at the bottom of the window.

Now you will see a summary of your transaction. Once there's a single blockchain confirmation, the funds will be added to your Ignition Casino account. This will take less than a minute if you specified a sufficient fee in your wallet; otherwise, you may have to wait until higher-priority transactions are cleared out of the mempool first.

Ignition Deposit Confirmation

Once the transaction is processed and written to the blockchain, the amount of ETH tokens you sent will be multiplied by the exchange rate and the equivalent value in dollars will be added to your real money account balance. When you later withdraw money via Ethereum, the same process will happen in reverse with dollars being debited from your account and the appropriate number of Ether tokens being sent to your wallet.

IMPORTANT NOTE: It's wise to avoid sending coins directly between gambling sites and crypto exchanges especially if you reside in a “gray market,” like Australia or the United States. These exchanges must follow the financial regulations in force in the areas in which they do business, and these rules often prohibit the funding of internet gaming accounts. Failing to adhere to this guideline may result in the closure of your exchange account and possibly even the forfeiture of your funds. For best results, always use an intermediary Ethereum wallet as a buffer between your poker, casino, or sports betting site and your crypto-currency exchange. This applies both when depositing and withdrawing crypto.

Ethereum General Information

Blue Info Button

Ethereum was conceived of and described by Russia-born Canadian Vitalik Buterin in a 2013 white paper. He felt that Bitcoin was lacking in smart contract and general programming features, and he therefore set out to create a crypto-currency that remedied these defects. After a beta period, Ethereum made its official launch in July 2015.

The Ethereum Network has a default coin, called the Ether Token (ETH), but it also supports the creation of additional derivative crypto-currency tokens that write to the same blockchain. There are now hundreds of thousands of such tokens.

Much as with any crypto-currency, ETH has had its ups and downs although its volatility seems to be lower than Bitcoin's. Initially hovering around the $1 per coin mark, the price skyrocketed between January and March 2016 to nearly $10 apiece. Then, the crypto bull run in 2017 saw ETH jump up higher than $1,300 per token before retracting back to around the $100 level.

The next couple of years saw ETH trading in the $100 - $250 band. But then around August 2020, Ether entered a phase of nearly continuous growth, pushing it up past the $2,000 mark in February 2021. A small downturn then occurred, but ETH regained its steam and continued climbing up to its all-time high of $4,362 on May 12, 2021. The price of one Ether token as of May 15, 2021, is $3,899.49.

Much of the recent price appreciation has been attributed to the popularity of non-fungible tokens. These are custom tokens that can be used to certify that a specific file, photo, video, in-game skin, or tangible object is unique and to provide proof of ownership. Most of these NFTs are stored on the Ethereum blockchain.

Ethereum-Friendly Online Gaming Possibilities

Cards and Chips

If you are a crypto-currency trader, hodler, or merely someone who is interested in learning more about how you can employ Ethereum in your daily life, then perhaps it's time to make an ETH deposit and begin playing online real money games. You can fund your account with Ether and then bet on sports, play casino games, or pit your skills against others in peer-to-peer poker.

The internet gaming concerns that have recently enabled Ethereum transactions vary on the products they offer and their geographic areas of service. Find out more by reading our reviews of them:

  • Ignition (poker and casino site serving Americans and Australians)
  • Bovada (poker, casino, and sportsbook site serving Americans)
  • Cafe Casino (casino gaming for Americans)
  • Slots.lv (casino gaming for Americans and Canadians)
  • Bodog (poker, casino, and sportsbook site for Canadians and Latin Americans)
  • Joe Fortune (casino gaming for Australians)

Meanwhile, there are a number of places to wager online that had already supported ETH token transactions even before this recent news. They include:

Photo of Jake Rake

Jake Rake is the head poker writer at ProfessionalRakeback.com.

He eats, sleeps and breathes poker and online gaming. This is a man who reads every online poker forum morning, noon, and night, for the last 17 years, trying to find fun and interesting information to share with our readers.

Jake has become an ardent student of crypto-currency since it was first introduced in the online poker world in 2013 and he thus has eight years experience covering this field!