In the Philippines, betting sports online with an offshore operator is perfectly legal. However, getting your gambling account topped off hasn’t always been the easiest proposition. Fortunately, there are now several rapid, simple Philippines betting deposit methods to choose from at all major sportsbooks, with the most popular being a cryptocurrency.
Of those crypto coins, Ethereum is one of the most widely used. As such, Philippines Ethereum sports betting has become one of the hottest online gambling markets. To learn how to buy Ethereum and use it to fund your sports betting over the Internet, our short primer should have you flying high and laughing all the way to the bank.
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What Is Ethereum?
Ethereum (ticker symbol ETH) is a cryptocurrency network that’s supported by the Ether crypto coin. Ethereum was launched in 2015 after two years of development, and the Ethereum vs. Bitcoin (BTC) debate has been raging ever since.
While Bitcoin is the most popular crypto, Ethereum is the most widely used network, and many other cryptocurrencies and NFTs (non-fungible tokens) are powered by Ethereum tokens like ERC-20. This flexibility is why the coin is preferred by many crypto analysts and developers, and it’s why the altcoin is a universal option at every single Philippines sports betting site.
By market capitalization, ETH is second only to Bitcoin, with a current value of $250 billion. That said, the current Ethereum price as of Q2 2021 is right at $2000 per coin, which is well shy of its all-time high (ATH) of $4200.
As such, right now is the perfect time for PH sports bettors to buy in, as the Ethereum forecast pegs the currency’s future valuation at $10,000 or more within just a few years. When you bet sports with Ethereum and get paid out in Ethereum, your wins will be worth a whole lot more in the long run!
How To Bet on Sports With Ethereum In The Philippines
Given the Ethereum current price, it’s an excellent time to get started using this cryptocurrency for sports betting (as well as trading and investment). Of course, to do that, you must first buy Ethereum.
There’s a small learning curve to buying ETH, which might turn some potential bettors off. But if you’re willing to jump through just a few hoops, you can be up and running before you know it.
In the following few sections, we cover everything you need to know about how to bet with Ether at the best legal online sportsbooks for Philippines residents.
Ethereum Sportsbook Deposits
Once you have some Ethereum cryptocurrency in-hand, the process to deposit it into your account with a Philippines-friendly online sports betting site is quick and easy.
Additionally, all ETH deposits process relatively quickly, come with no added surcharges aside from standard built-in Ethereum blockchain fees, allow for the best possible Philippines sportsbook bonuses, and let bettors claim same-day payouts.
Just follow these instructions to top off your betting bankroll with Ether:
- Follow any link on this page to a reputable, trusted online Philippines sportsbook and click or tap the “Sign Up” or “Join” button.
- Enter in all required account information, making sure to use real, verifiable information. The top Philippines betting sites all use state-of-the-art SSL and TLS encryption, and no personal or financial data is ever sold or shared.
- Choose the Ethereum option at the deposit page and copy down the site’s Ethereum sending address.
- Open your Ethereum exchange wallet or private ETH wallet, choose the “Send” option, and enter in the amount of Ether you wish to transfer to your betting site. Paste the above Ethereum address into the provided field, and submit the transaction.
Ethereum allows for quick deposits, but – compared to some other supported cryptocurrencies like Bitcoin Cash, Litecoin or Stellar – it’s not the fastest option. Because of its popularity and complex verification structure, Ethereum transfers take between 30-60 minutes to go through.
However, ETH transfers are always guaranteed and can never be intercepted, altered, or rejected. At PH online sportsbooks, Ethereum transactions are 100% guaranteed to go through on time, every time.
Once your book receives your ETH payment, your account will be credited immediately. Then, you’re free to place real-money sports bets on every sport on the planet, from local favorites like PBA basketball and boxing to international leagues like the NBA, European football promotions, the NFL, the NHL, and more.
All top PH sportsbooks also feature live in-game betting, legal eSports betting, and online horse racing betting featuring daily races from tracks worldwide. In fact, the only gambling market these sites don’t support is e-Sabong betting, which you’ll need to wager on with domestic operators instead.
Ethereum Sportsbook Payouts
Ethereum payouts are just as easy to initiate as ETH deposits. All the best sports betting sites for Filipino punters allow for same-day ETH withdrawals, and there are never any added fees for these, so you can keep more of what you win.
When you’re ready to collect your winnings, here’s what you need to do:
- Visit your sites online Cashier page and select the Ethereum option from the withdrawal menu.
- The next page will ask you to enter your ETH wallet’s Ethereum receiving address (see Step 3).
- In your ETH wallet, select the “Receive” option and copy down the unique ETH address generated by your wallet.
- Paste the above ETH address into the appropriate field at your sportsbook’s ETH withdrawal page, and enter in the amount of your eligible account balance you want to pull out. Submit the ticket.
Usually, PH sportsbooks take 2-3 hours to process Ethereum payout requests, and once your withdrawal is approved, you’ll receive your Ether in 30-60 minutes.
Savvy bettors will want to keep track of the Ethereum news and pull out their winnings when the current Ethereum price is dipping. This allows them to effectively collect more Ethereum for every win. Then, when that ETH price goes up, the wins are worth that much more.
Ethereum and other popular cryptocurrencies are the only ways to turn a $100 sports betting win into literally thousands of dollars. Just set it and forget it!
Ethereum Sportsbook Bonuses
Betting bonuses are a major draw at all reputable Philippines sports gambling sites, as they give players significantly more money with which to gamble. Of course, when you deposit with Ether, you’ll get even more bonus bets, as the top sportsbooks all sweeten the pot with enhanced crypto deposit promos.
This is basically free Ethereum that you get just for making a deposit, and most sites even give members extra crypto cash for friend referrals, first-time mobile sports betting wagers, and so on. Depending on the time of year, you can also claim event-specific sports betting bonuses so you can bet more money on every NBA Finals, every Super Bowl, and other major tournaments.
Please note that all online sports betting bonus options come with rollover requirements, which means you have to gamble a certain multiple of your deposit + bonus amount before you can be eligible to withdraw any associated winnings. Because all the top sites have bonus rollovers of just 5-15X, we always recommend accepting these whenever they’re available.
Philippines Ethereum Online Sportsbook FAQs
Is Ethereum legal in the Philippines?
Absolutely! Ethereum is 100% legal to use in the Philippines, as there are no Philippines laws barring access to cryptocurrencies.
Similarly, Ethereum trading is legal for all lawful enterprises, which includes online sports betting with reputable, licensed offshore operators.
Just as there are no Philippines sports betting laws barring access to these sites for residents aged 18 and up, there are no laws against using crypto to fund your online gambling activities in the islands.
Is Ethereum safe to use for legal Philippines sports betting?
Yes, Ethereum is incredibly safe to use for legal PH sports betting and all other lawful applications.
Remember, Ethereum – like other major cryptocurrencies – are quantum-hacking-resistant, which makes them the most secure option for sending and receiving money over the Internet.
While other online betting banking methods (i.e. credit cards, debit cards, bank wires, etc.) are also reasonably secure, nothing beats the open-ledger concept of blockchain technology.
Where can I buy Ethereum in the Philippines?
You can buy ETH at any number of safe, secure online crypto exchanges.
All the major Philippines cryptocurrency marketplaces support Ethereum buying, selling, and trading, and most of these also allow you to transfer fiat currency (PHP, USD, etc.) to Ethereum quickly and easily.
The most reputable Ethereum exchanges for Filipino bettors and investors are the following:
- + More!
Please note that first-time crypto buyers usually have to wait 5-10 days for their Ethereum purchases to show up in their exchange accounts with no restrictions.
Before that, most of these exchanges will allow for Ethereum trading, but you won’t be able to send Ethereum to any online sportsbooks (or anywhere else) until that time period lapses. Please keep this in mind if you want to place wagers on time-sensitive betting lines.
If you want to bet with Ether but don’t own any, and the game you’re interested in is taking place today or tomorrow, the best option is to go ahead and deposit with credit or debit. Then, when you win, you can actually pull your money out in Ethereum!
This also lets bettors bypass exchanges altogether, and when it’s time to make your next deposit, you’ll already have plenty of Ethereum with which to do so.
What is the best Ethereum wallet for online PH sports gambling?
When you gamble with ETH, it’s best that you move your Ethereum off the major exchanges.
While these exchanges make it easy to use their native wallets to send Ethereum to your favorite sports betting sites, it’s safer and more secure to hold your ETH keys privately. That means you’ll need to use a private Ethereum software wallet or hardware wallet.
For betting purposes, the best Ethereum wallet will be a software option like Atomic, Electrum, Exodus, etc. These are mobile-friendly ETH wallets, too, which means you can handle all your banking and mobile Philippines sports betting using the same device, no matter where you are in the nation.
For added security, hardware wallets are a great option, though they come with a few extra steps when transferring funds to your online sportsbook.
Hardware crypto wallets are more secure than software crypto wallets, but the hardware itself costs money, and they’re a little slower to use. We recommend the Ledger Nano S, Ledger Nano X, Trezor One, and Trezor Model T devices.
Important: Please only download ETH software wallets from their official developer pages and only buy ETH hardware wallets from their official manufacturer stores. Never use third-party services to download or buy crypto wallets.
Is Ethereum a good investment for Filipino bettors?
Yes! In addition to betting with Ethereum, you should bet on Ethereum.
When you invest in Ethereum, your potential gains are much higher than investing in traditional stocks, and one quick look at the Ethereum price history bears that out.
Most Ethereum price predictions assert that the asset is primed for significant growth over the next few years, especially with the pending launch of Ethereum 2.0.
We wouldn’t be surprised to see the Ether value eclipse $10,000 within the next 5-10 years.
Will legal Philippines sportsbooks accept Ethereum 2.0?
Yes. Ethereum 2.0 (ETH2) is not a “hard fork” of the Ethereum blockchain, which means that it will be the same network, and all books that accept Ether will accept Ether 2.0. Ethereum 2.0 is not a new crypto coin.
When does Ethereum 2.0 launch?
Ethereum 2.0 is scheduled to go live sometime in late 2021 or early 2022.
Until now, to earn free ETH (i.e. Ethereum rewards), you had to know how to mine Ethereum, and the financial outlay for Ethereum mining is substantial.
Fortunately, the upgrades coming with ETH2 will allow for Ethereum staking, which means you can earn passive rewards by delegating your Ether to Ethereum stake pools.
This means your Ethereum sports betting payouts will just keep getting better!
What other kinds of Ethereum do online PH sportsbooks accept?
Ethereum is the most heavily used cryptocurrency network in the world, largely due to the advent of Ethereum smart contracts, most of which use ERC-20 tokens.
There have been numerous ETH spinoffs, as well. These include Ethereum Classic (ETC), Ethereum Cash (ECASH), EthereumMax (EMAX), and other assets. Even major cryptos like Chainlink (LINK) use the ETH platform.