Bitcoin Betting

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Bitcoin Betting

Bitcoin and bitcoin betting have established itself as the dominant cryptocurrency on the market today, so it is no surprise that it is now becoming an even greater force in online sports betting. As competition grows amongst online sportsbooks, the lure of faster and limitless pay-outs, together with more lucrative bonuses, is attracting a growing audience to Bitcoin sports betting sites.

In the age of decentralized finance, online gambling sites are switched on and have recognized that with no bank involvement in Bitcoin cash transactions, the advantages of integrating it into their payment method structures, are enormous.

Bitcoin sports betting is taking off in a big way so there is plenty for the average punter to get to grips with, especially from a legal standpoint and in regard to restrictions imposed within specific jurisdictions.

There are a vast amount of Bitcoin sports betting sites, but not all are as they seem, so it is vital to understand which are genuine in their product descriptions, and are rightly considered amongst the best crypto sportsbooks and which are best to give a wide berth to.

There is much to learn and many advantages to be gained, in the whole Bitcoin sports betting experience, as outlined here.

Contents

1. Do sportsbooks accept crypto?

Cryptocurrency sports betting sites are growing in numbers at a rapid rate, and this is seemingly set to continue, with Bitcoin not only maintaining, but increasing its customer base to an all time high.

Online gambling sites are actually encouraging this form of gambling, as this payment method is far easier for them to deal with, compared to many of the leading debit and credit card companies.

2. Can you bet on sports with Bitcoin?

Bitcoin is increasing in popularity on a rapid basis, and it is not just for trading, or purchasing goods, many people are deciding to buy Bitcoin and turning to it for their sports betting too. It is not illegal to bet on sports with cryptocurrency, and it is only going to get easier, with Bitcoin leading the way.

3. Are crypto betting sites legal?

The issue surrounding the legality of cryptocurrency sports betting is a little clouded. There are many online Bitcoin sportsbooks where it is accepted, others impose several restriction; but there are countries where it is prohibited.

Basically, just so long as the crypto betting site follows the rules and regulations of a particular jurisdiction, then it is regarded as operating within a legal standpoint and can accept sports bets on a sports betting website.

3.1 Is Bitcoin betting legal?

There are actually no regulatory laws for Bitcoin betting in the sports markets. It pretty much depends on individual International jurisdictions, with some accepting the responsibility of controlling Bitcoin at an online sports betting site, such as the Curacao gaming authority.

4. What is Bitcoin sports betting?

Basically, Bitcoin sports betting is the use of this ever increasingly popular cryptocurrency for sports bets, at online betting sites. Players can populate their gambling accounts with deposits made through this means.

It is fast becoming recognised as a far safer way of funding these online betting websites, as they offer far more security of peoples finances.

5. How does Bitcoin work with sports betting?

Aside from investments and trading, Bitcoin has been recognised as a fantastic way to earn good money in leisure, and nowhere more so than at an online sports betting crypto site. More and more betting sites are altering their stance on cryptocurrencies and are now accepting Bitcoin as a legitimate payment method, to be used on their betting site.

Fundamentally, the Bitcoin cash alternative, replaces the traditional money transfer, or debit and credit card methods of funding a bookmaker's betting site account, with fiat currency.

Instead, the depositing and withdrawals are undertaken via wallets, both in the online crypto betting site, and the Bitcoin itself. The Bitcoin wallet keeps private details and other information in what are known as 'private keys' and these effectively provide the proof of sufficient funding.

This leaves a customer less vulnerable to fraudulent activities, as these digital wallets are completely secure, with no means of access for outside parties.

6. Why do people use Bitcoin to bet on sports?

Bitcoin betting sites are being sought out by keen gamblers, due to a range of benefits that set this form of wagering aside, from the traditional methods. A very popular reason for this is the extreme privacy that crypto betting sites offer. A player is, in essence, given their own 'key', that is theirs and theirs alone.

The identity of the individual is actually marked on the Bitcoin network, with an address that is easily available in the public domain, and similar to a home address; but just like having a house door key, which you wouldn't allow a copy into the hands of anybody you didn't trust, so is the case with the Bitcoin key.

Personal records and information are stored away in a secure digital wallet, safe from prying eyes. This is just one of many reasons why the gambling industry are seeing a rapid increases in Bitcoin betting, at online sportsbooks.

6.1 Bitcoin's reliability

Crypto betting with Bitcoin is seen as extremely reliable due to the fact that its transactions do not require any third-party approval, and as a consequence, they are not subject to any possibility of blocking, which unfortunately for online gamblers, seems to be a growing trend with other payment methods.

Sports betting with Bitcoins removes this potential obstacle, so deposits and withdrawals are carried out seamlessly and quickly.

6.2 Bitcoin transaction improvements

Bitcoin deposits and withdrawals are impressively quick, especially when compared to alternative options; plus the platform allows higher limits, giving opportunities to raise the stakes and collect bigger winnings at the selected Bitcoin sportsbooks.

6.3 Higher bonuses betting with Bitcoin

As the bookmakers realise the benefits of having Bitcoin players at their site, many are increasing the incentives they provide in the form of promotions and bonus codes bets available on our website, both in their size and their frequency, to attract the customer to their Bitcoin betting site.

7. What sports can I bet with Bitcoin?

Essentially, Bitcoin sports betting has just the same amount of choice as at any of the standard online sports betting sites, with the ability to select any sports bet that appeals.

In addition to the regular football, tennis, and horse racing, which all crypto sports betting sites will offer as a matter of course, there are betting markets in a whole host of other popular sports; together with many of those that maybe are not covered as often.

The rise in eSports has also seen that activity feature heavily too, in BTC sports betting.

8. Tell me the best way to bet with Bitcoin?

Locate the best Bitcoin sportsbook to reflect your likely playing activity, then join the most suitable crypto sportsbook. Set up Bitcoin as the preferred payment method, and open a Bitcoin wallet, before making a deposit.

All transactions are stored on public e-ledgers for every deposit made, and these are, in many cases, able to be significantly higher than permitted by other methods.

This may affect an individuals actual usage, only because they would have more funds to wager with at the Bitcoin sportsbooks. Otherwise, a player would bet with Bitcoin just the same as they would if betting with funds deposited by other means.

9. How can I join a BTC sportsbook?

The number of crypto betting sites that are now accepting Bitcoin for deposits is growing rapidly, and the process of joining a leading Bitcoin betting site is a relatively straightforward procedure.

This can quickly allow a new player to begin exploring all the betting crypto markets and opportunities available to them, and start their betting using the Bitcoin network. First of all the registration requires all the usual personal information and the selection of a username and password. Then choose Bitcoin in the depositing options and enter an address and funds into the wallet provided, via the cashier section.

Bookmakers accepting Bitcoins

1xBit
1xBit
Bonus Sports
Welcome Package up to 7 BTC + 500 Points!
Promo code
BCVIP
1XBET
1XBET
Bonus Sports
Exclusive Bonus 100% up to €/$130 (or currency equivalent)
Promo code
BCVIP
Paripesa
Paripesa
Bonus Sports
Welcome Bonus of 100% up to €/$130
Promo code
BCVIP

10. Bitcoin sports betting sites

Although some jurisdictions still flatly refuse to accept Bitcoin, a rapidly increasing amount of sports betting sites are now realising the benefits of permitting this deposit method, for populating an account's payment preferences.

Cryptocurrencies are earning their place at the mainstream online sportsbook, with Bitcoin firmly at the head of them.

10.1 Where can I bet on sports with Bitcoin?

There are many sports betting sites which allow Bitcoin, and the number of platforms continues to increase massively. There are still couple steps away from casinos offering bonus codes for bitcoin players, but the gap is getting smaller. Basic searches will reveal dozens of recommended cryptocurrency betting sites, each with their own individuality.

Adding funds to a bookmakers account via Bitcoin, offers convenience and security in what is a booming industry.

11. How do you bet with Bitcoins?

The actual processes of Bitcoin gambling at cryptocurrency betting sites, are not particularly different from any normal betting practices. There is a need to identify a chosen bookmaker, but obviously in this case they must accept Bitcoin.

There will be a need to register and deposit, choose a sports market to bet on and hopefully, after a successful outcome, revisit the payments section to activate a Bitcoin cash out, through the withdrawal procedure.

11.1 How do I place a sports bet on Bitcoin?

In crypto gambling, to place a Bitcoin bet there are a number of steps to follow, but they are reasonably straightforward.

Firstly, there is the obvious need to determine the best Bitcoin betting sites from where to wager. Then, as with traditional sports betting websites, looking for competitive odds in football, or horse racing, or any sport for that matter, is the first rule of thumb.

Sign up at one of the Bitcoin sportsbooks that presents and promotes itself positively, preferably with a handsome welcome bonus offer, then identify Bitcoin as the preferred payment method, and an address will be created. Then set up a cryptocurrency wallet, and establish a Bitcoin exchange account, before sending funds to the launched wallet. It is all done through prompts, so although it may sound complicated, it is actually quite elementary, with lots of confirmation screens providing added verification.

The key factor is to retrieve the Bitcoin address from the chosen Bitcoin sportsbooks, copy it (it will be a long code mixed with letters and numbers) and then forward the money from the crypto wallet.

The actual placing of the bet then is just the same as at any traditional online bookmaker; basically make a selection and fund it through the money in the betting site's wallet, financed by Bitcoin.

12. Bitcoin live betting experience

Live betting, also referred to as in-play betting, is perfectly acceptable with Bitcoin, just as it is with any traditional payment method.

Additionally, just like any bet placed by a punter at those traditional betting sites, Bitcoin bettors will always enjoy watching their selection 'come in' during a live broadcast, which many sportsbooks are now able to offer, through live streaming.

The difference is, with crypto betting through Bitcoin, the winnings can continue to increase, even after the initial success.

13. Advantages of wagering with Bitcoins

The popularity of crypto sports betting at Bitcoin gambling sites is increasing at a rapid rate. There are various reasons for this, including anonymity, security, and fast transactions in both depositing and withdrawals, without fees.

Essentially, Bitcoin bettors, just like all bettors in truth, are looking to find an 'edge' over the sportsbook and Bitcoin offers a greater opportunity for finding it.

There are many advantages in sports betting with Bitcoin and in all likelihood they will increase still further, as the payment method grows in usage, and the websites compete for the credibility of being recognised as the best Bitcoin sportsbook.

13.1 Bitcoin is decentralized

The very fact that Bitcoin does not go through a centralized banking system, means that there is no central regulatory authority in the system.

As it is a decentralized network, the owner of the Bitcoin has total control over transactions, so there is no possibility of outside influences 'freezing' an account, and thus allowing for greater financial flexibility.

13.2 Fast payment processing with Bitcoin

When a player places a bet with Bitcoin at a cryptocurrency betting site, any winnings are not subject to the usual fees charged by credit card companies, meaning transactions are almost instantaneous and any fees that are incurred are exceptionally low, in comparison to traditional methods.

Additionally, most Bitcoin wallets offer the chance for a player to adjust their commission structure, so they can either keep the low commission, or otherwise opt for even faster transfers.

13.3 Bitcoin's higher security

The Bitcoin system is an incredibly tight operation, which significantly reduces any risk factor. Any transactions through Bitcoin sports books cannot be changed, meaning that they cannot be reversed by a third-party.

Indeed, they cannot be altered in any way from how it was initially recorded in Bitcoin's public ledger. There is less personal data released so theft either in finances, or identity, are completely protected.

13.4 Privacy of Bitcoin

Although the public ledger is transparent, since no personal information or details are attached to any individual Bitcoin wallet, people have no means of knowing who purchased what, or for what amount.

It is absolutely private and as a consequence anonymity is maintained.

13.5 Greater access to higher bonuses with Bitcoin

Many of the best Bitcoin betting sites offer higher bonuses and promotions to customers, as incentives to gamble with Bitcoin.

However, even with those that only offer the standard promotions, there is still a very good chance of better rewards, simply because people who bet with BTC can see the value of their bet increase, due to the constant fluctuation in the Bitcoin value.

So by leaving their digital currency in their Bitcoin wallet, their winning retain the potential to climb substantially.

14. Best Bitcoin sportsbooks

The number of crypto betting sites which accept Bitcoin as a preferred method of payment, continues to grow at a staggering rate, with additional sportsbooks coming on board seemingly on a weekly basis.

This is obviously great news for the punters, but it does create an extra complication for them, in the way of recognising which can genuinely be regarded as amongst the best Bitcoin sportsbooks, and which are not completely all they say they are.

All of the bitcoin sportsbooks offer asian handicap bets

There are dozens of truly excellent cryptocurrency websites, which offer a superb experience and are right up there as some of the very best Bitcoin betting sites. The following list contains a selection of these, although it certainly is not exhaustive:

Bookmakers accepting Bitcoins

  • Sportsbet
  • Stake
  • 1xBit
  • Paripesa

15. Bitcoin sportsbook reviews

15.1 Bitcoin betting at Sportsbet

Their main focus is on sports betting, which is great for Bitcoin betting players, as their content is rich with opportunities, in a whole host of markets.

It is highly respected as a quality Bitcoin sportsbook, with a reputation for fair play and great enjoyment. Bitcoin users will find one of the fastest payment systems, and its Curacao licensing offers added confidence, to what is an excellent gambling platform.

15.2 Bitcoin betting at Stake

Stake is a really competitive and popular Bitcoin accepting sportsbook, whose dedicated sports section not only features all the majors such as: football, tennis, basketball etc., but also the minor sports, as well as a fabulous array of the virtual games too.

Its promotional offerings stand comparison with any of its peers, with a great welcome bonus, plus there are great opportunities for Bitcoin players to join their exclusive VIP club, where for every BTC that is wagered, points are accumulated that get converted into very generous prizes.

15.3 Bitcoin betting at 1xBit

1xBit have a unique offer especially for Bitcoin players, in which they can get a bonus up to an amazing seven BTC. This bonus is spread over the first four deposits, with an incredible three Bitcoins up for grabs, on the fourth deposit. And you can claim it even with a 1xBit sportsbook mobile app.

This promotion alone is enough to catapult it to be amongst the best Bitcoin betting sites; but there are even more bonuses available on a regular basis, when you use a 1xBit VIP promotional code. Couple that with the excellent sports offerings, and you have a quality cryptocurrency sportsbook.

15.4 Bitcoin betting at Paripesa

Paripesa is one of the fairly new Bitcoin accepting sports betting websites, and is especially popular on the African continent. It offers very handsome bonuses in its extensive promotions with a Paripesa promotional code and for Bitcoin punters especially, it provides highly rewarding incentives to come aboard.

Its sporting platform definitely justifies its position amongst the best crypto sports betting sites, with a good proportion of its offerings concentrating on niche markets.

16. Selecting the ideal BTC sportsbook

Everybody's game play at the sportsbooks is different, so it is important to find the one that best meets your requirements. This can be quite tricky, but in the main there are four or five key factors to consider, and this can rule in or out certain sites.

There is a chance that there may be restrictions on Bitcoin in a desired country, immediately ruling them out. Once you can establish that a site is legal in the location you wish to play in, then examining its reputation is a good start. Many will claim to be the best crypto betting sites with this and that to offer, but in reality they may not be able to justify that fact, in line with what you are looking for.

Any site associated with and licensed through, the Curacao gaming authority, should promote confidence, as they have a very good name and is known to be gambling-friendly.

Look at customer reactions on public forums, Bitcoin betting can prompt a lot of interaction in these spaces, so any negativity should be noted.

The depth of sports betting lines and the competitive nature of their odds setting is important, especially in close sporting contests.

A major benefit in Bitcoin sportsbook betting is the anonymity that comes with it, but this is not something that is available at every cryptocurrency gambling platform; so this is definitely something to be aware of.

Pay-out speeds, and welcome bonus offers can also play a part in decision making, so possibly the best course of action would be to register at two or three, and start betting at each as a experimental exercise; before settling on the best Bitcoin sportsbook that reflects your needs and provides the enjoyment factor.

17. Payment methods and Bitcoin

Of all the features that players enjoy with Bitcoin, one of the most commonly praised is its remarkable speed in transactions. Literally within a matter of a few minutes, they are completed, which creates a lot of comparison with another payment method: QR code payments in casinos and sportsbooks.

No single party can control Bitcoin, therefore any financial dealings are not overseen by a third-party; they are only subject to blockchain proof checks for authorization. There is no offshore activity in play, Bitcoin's decentralized nature of operation, removes any such necessity.

18. Difference between Bitcoin and other deposit methods

Online sports betting sites usually charge banking fees for the transfer of money, but those that accept Bitcoin deposits do not require such fees.

Additionally, there is no need to store bank account data on a betting site account, where Bitcoin gambling is permitted. There is also no waiting time between making a deposit and being able to start betting, as there sometimes is with other methods, and withdrawal limits are significantly better too.

There are no regulatory restrictions imposed, or difficult compliance matters to adhere to; basically Bitcoin can be spent wherever a holder sees fit.

18.1 How do I deposit Bitcoins to sportsbook?

Bitcoin deposits into sportsbooks are easy, all a player needs is to create for themselves a Bitcoin wallet, and use it to send funds to the chosen sports betting sites.

18.2 Which betting site can I deposit with Bitcoin?

There are many cryptocurrency sports betting sites which will allow deposits to be made with Bitcoin, including Cloudbet, 1xBit, Sportsbet, Casobet.

Bitcoin bets are not possible with any regulated American bookmaker.

19. Setting up a cryptocurrency wallet

The actual setting up of Bitcoin user wallets is really easy; in essence they are virtual storage systems to keep the BTC's safe, before carrying out any sports betting.

There are many out there to choose from, with a firm favourite being Exodus. A simple download and install is followed by prompts to open up the program and then forward assets to the Bitcoin wallet, to be used for funding the betting sites. It is a really quick procedure.

20. Buying Bitcoins at an exchange

Crypto exchanges offer an alternative to Bitcoin wallets, although some do have their own in-built wallets. Those without are subject to Know-your-customer (KYC) regulations, which the wallets are not.

Bitcoin transactions sent from an exchange operate just as any other betting exchange, with users backing and laying odds, and there will be a commission to pay to the chosen exchange. They are fundamentally, a stock market for cryptocurrencies.

After deciding on a betting site that allows Bitcoin in its sports markets, you would need to sign up to an exchange, such as Coinbase or other ones described on our website like Huobi. They will request personal information, just as any online sports betting sites, with the addition of enquiring of how the digital currency will be used.

Once accepted as being suitable to buy Bitcoin, there are some straightforward prompts to follow, with additional confirmation and verification processes to acknowledge, before the Bitcoin is sent to your chosen destination, and you are ready to begin crypto betting.

21. Bitcoin bonuses

Bitcoin betting sites offer big rewards when gambling with these means. Many provide cryptocurrency sports betting bonuses, which are specific to Bitcoin.

Bonus type Bonus Information
Welcome bonus Delivered upon registration acceptance and verification.
First deposit Usually placed into a separate bonus wallet and likely to be considerably higher than if depositing in a conventional way.
Reload bonus Many Bitcoin sports betting sites offer reload bonuses to their Bitcoin customers and these usually come with a much higher match-percentage, when set alongside basic deposited finances. Also, these tend to occur far more regularly than the occasional or seasonal reloads, given to players who opted for traditional deposited methods.

Basically, online betting sites really like Bitcoin. They don't want to be dealing with third-party institutions, with difficult restrictions imposed, or fees attached to credit cards.

That is why they not only can offer greater bonuses and promotions, it is in their interests to do it and provide tempting incentives, to attract Bitcoin custom.

22. Bitcoin competitive odds

The odds at Bitcoin are more or less on a par with those that the gambling industry promotes. The reason is relatively easy to understand, as those odds are calculated based upon statistical metrics, measured independently, aside from any currency, or payment structure.

This means that the probability factor of each individual bet, and its associated odds, are not in any way influenced, or impacted. Consequently, there are no issues for a sportsbook to consider, in terms of pay-outs.

23. How safe is Bitcoin in sportsbook betting?

Bitcoin betting is actually a safer way of gambling, as it allows players to save to their private wallets, which in crypto sportsbooks, will always be password-protected to a very high degree, making them totally secure and extremely difficult to hack into.

Working with blockchain technology, any bitcoin transactions are so much quicker than those conducted with ordinary fiat money, with payments processed almost immediately.

Any customers using bitcoin betting sites can do so contentedly, with the knowledge that safeguards are firmly in place for their crypto sports betting.

24. Bitcoin gambling disadvantages

There are, as comprehensively covered, many intrinsic advantages to Bitcoin sports betting; but despite these demonstrable benefits, there are also some disadvantages to be aware of too. These flaws cannot be completely disregarded when choosing the ideal betting sites to use.

Volatility of the product. Its price is never the same two days running, it can fluctuate dramatically, which can be a real problem for some users. For example: if a player places a bet from their Bitcoin cash wallet and that wager takes over a week to settle, there is a possibility that winnings could increase, were bitcoin's value to grow in that time; but equally with BTC sports betting, were the value to decrease then the winnings could be significantly lower.

Constantly changing network. Changes are constant as bitcoin becomes more accessible, with the product encountering scalability issues due to a growing uptake, it was not initially built to process.

Traceability. Whilst its anonymity is seen largely as an advantage, Bitcoin gambling is regrettably often associated with criminal activity, in particular fraudulent behaviour; although monitoring tools readily built-in to flag suspicious movements, usually counter this.

It is clear that if using Bitcoin at cryptocurrency betting sites, it is important to select sportsbooks that offer the opportunity to convert Bitcoin to FIAT currency in real time, and conversely permit withdrawal in Bitcoin.

25. Anonymity with Bitcoin

Anonymity is especially appealing in crypto sports betting, as it would be in anything that involves disclosure of financial information. Although transactions are available to view on a public system, personal details are protected with a Bitcoin key.

Registration at Bitcoin betting sites demand stringent security checks, with verification measures introduced for additional safety.

A Bitcoin sportsbook offers a higher level of anonymity in comparison to other means of payment; plus any bets placed at sites which accept Bitcoin, remain unaccounted for on bank statements, as BTC is not controlled by banks, or other financing organizations.

26. Bitcoin betting strategies

To make the most of betting with Bitcoin it is useful to have some strategic thought processes, to keep focus and more importantly, maximize potential profits.

Firstly, always check that the cryptocurrency betting sites are licensed and regulated to protect yourself against scams. Then, ensure that your personal circumstances will actually allow the luxury of some Bitcoin betting. Budget management is crucial to avoid getting into financial difficulties, as sports betting can be an unforgiving place.

Then, conducting thorough researches on a chosen event is always advisable, rather than just randomly betting blind. Also study and compare odds, there are always competitive prices to be found in a quick search.

Avoid too many combination bets, they may be potentially lucrative, but the risk factors are really high. It is better to settle on singles and doubles, offering more realistic winning opportunities.

It is recommended to steer clear of Bitcoin betting when emotion are running high. Never place bets based on personal favouritism, or start chasing losses, they are both likely to end in disappointment.

Something that should always categorically be refrained from, is gambling at top Bitcoin betting sites under the influence of alcohol. Rational and logical thinking are vital when it comes to placing bets and neither are likely, if the consumption levels are too high.

Having a pre-determined system, including all the best Bitcoin betting practices mentioned, can form a successful strategy, to adopt and comply to.

27. Bitcoin betting conclusions

There is no doubt that betting at crypto sportsbooks is here to stay and Bitcoin is leading the way as the preferred payment method.

Sports betting has already changed out of all recognition and that movement will only further increase, as more people join the Bitcoin betting revolution.

Crypto gambling is only in its infancy really, but as public understanding heightens, so too will the use of the Bitcoin, as its popularity intensifies.

Those already onboard are enjoying their head start, well aware that the betting landscape is changing massively, not just in market dynamics, but crucially and particularly, in the way accounts are funded.

The increase in Bitcoin sports websites and the inevitable relaxing of restrictions in more territories, is likely to see an explosion of Bitcoin usage over the next few years.

Technology never stands still, so it is best to keep up, and right now, for the sports gamblers, that most definitely means gaining a sufficient appreciation of Bitcoin betting, and its capabilities.

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