If you like to place bets, if casino games appeal to you, if the thrill of risking money in the hopes of winning money is your cup of tea, then you know what gambling is and you're into it. (Nice to meet you, so are we! Let's be friends.)
So Ethereum Gambling is exactly what it sounds like, risking this cryptocurrency in the hopes of winning more of it. If you play Ethereum Dice, for example, your odds of winning are almost 50%, and if you do win, you double your money, just like that. You could also go for a massive progressive jackpot of more than 200 ETH on Ethereum Slots. The likelihood is low, but the payoff is insane.
As a general rule of thumb: the less likely the payout, the higher it will be.
ETH betting can come in a few different forms. Because, let's be honest, investing in Ether in the hopes that it will climb in value for a pretty payout is a form of gambling.
But mainly, it's taking this altcoin to an Ethereum casino like FortuneJack, making a deposit, playing the games, and withdrawing the winnings. The decentralized (unrestricted), private, and secure nature of Ethereum makes it an ideal transaction method for placing bets for many players, especially those who want to keep their online gambling separate from their centralized and more standard finances (which others may have their prying eyes on.)