Bitcoin Sports Betting. Bitcoin was first established in 2009, and since then it has grown to be the most well-known cryptocurrencies in the world. It was the first, and it grew to be the highest valued one in 2017 when it reached a price of nearly $20,000. Since then it has dropped to a much lower value, but this is still much higher than most.
Bitcoin and other cryptocurrencies have become very popular within the last few years. This is a result of growing usage, adoption and price movements. At the moment, we can count more than a thousand various cryptocurrencies, including Litecoin, Ethereum, Ripple, NEO, EOS and many more. They differ by technology, speed, acceptance, etc. To this day, we have seen hundreds of methods where and how cryptos can be used. But one of the ways to use cryptocurrencies, including Bitcoin – sports betting. We could talk about crypto sphere a lot, however, SmashingTip team examined a few top Bitcoin sportsbooks this time. Well, SmashingTip is about sports and gambling after all. And here they are.
- Bitcoin Bonus Options. When you fund your online betting account with Bitcoin, you will get access to bigger and better sports betting bonuses than you will for any other deposit method. This alone is reason enough to make the switch to BTC for all your sports betting needs, because if you know how to gamble, Bitcoin lets you keep more of your bankroll and your promotional perks.
- Bitcoin fantasy sports operators have as diverse offering as non-Bitcoin sites. Moreover, Bitcoin DFS sites have one advantage over sites that don’t accept Bitcoin. Namely, as Bitcoin is not considered to be a currency by a number of countries, you are not legally risking any money when you’re playing fantasy sports with Bitcoins.
Best Bitcoin Sportsbooks
All these crypto bookmakers are trusted and well rated by the gambling community. SmashingTip did not put them in this list if their reputation is questionable. To be honest, our team spends hours and days reviewing and checking bookies before they can appear on our site.
Also, all of them are fully licensed in at least one of jurisdictions. It ensures that crypto bookie follows rules and regulations of the country it is licensed at. We always recommend going after approved sportsbooks. It will save you a lot of time and money in the end.
Furthermore, these crypto sports betting sites are easy to use, works on mobile flawlessly, and offers a large number of sports events – football, basketball, MMA, tennis, you name it. Do not forget to check SmashingTip sports predictions prepared by our professional team. It may help you to take a final decision.
The best part – all of them give the new players generous welcome bonuses. Just make a deposit and enjoy the juicy addition to your deposit. It gives you an extra chance to bet on more events. Additionally, it allows increasing your total account balance as well as bring a bankroll and its management one step forward. Nevertheless, please read the terms and conditions of wagering carefully.
Is Bitcoin Sports Betting Safe?
Yes, of course, it is. It hardly differs from the traditional betting which we are used to. However, it’s crucial to mention that due to high cryptocurrency price fluctuation your winnings or losses may be bigger or vice versa. On the other hand, if the user calculates his balance in cryptos, no further considerations should cross the road. Also, remember that some of Bitcoin sportsbooks instantly converts and shows the balance in FIAT currency together with the balance in crypto. That’s super convenient and does not oblige to make continuously currency conversions.
Also, as we have mentioned before, most of the Bitcoin bookies are fully licensed by corresponding authorities. Furthermore, sportsbooks have SSL certificates which assure safe and reliable data transferring. This is a must feature.
How To Use Bitcoin For Sports Betting?
This is really simple! First of all, register at one of Bitcoin bookmakers. You can use the one from our list. SmashingTip team already checked them, so be sure – they are good! Secondly, make a deposit using one of the cryptocurrencies. We mainly recommend Bitcoin. However, you can use other cryptos, but that depends on what cryptos bookie accepts. The whole process of registration is not complicated. We could say it is even much simpler than on any other sports bookie.
Secondly, you need to acquire a fraction of Bitcoin or other cryptos which is going to be stored in e-wallet. It may sound confusing in the first place, but trust us, it is not. Of course, make sure to find trusted and reliable cryptocurrency exchange.
The next step – fund your account. Again, this is simple as two plus two, and hardly will make you struggle. Just follow the instructions and you will be totally fine. We have tested it and can approve that it barely differs from any other deposit method.
Ultimately, start your sports betting journey. The process is the same as going with the traditional bookmaker. Everything works the same, so you do not have to worry about how Bitcoin betting works.
What Else Should I Know About Bitcoin Betting Sites?
All crypto bookmakers have their sites fully responsive and optimized to work on any device. It doesn’t matter what the user handles – smartphone, tablet or desktop; iOS or Android – it will work. It is very convenient to track and make winning bets wherever the gambler is and go.
Moreover, these bookies are much more liberal. It means they can accept the players from the countries where gambling is restricted or have some particular limitations. However, we would like to remind that going against the laws is not what we endorse. Just check your local laws before opening an account.
Many gamblers seek for the best odds and lower fees. That’s the place where crypto bookies get great score. Due to the origin of cryptocurrencies, it allows bookies saving tons of money. As a result, that lets to provide bettors with great odds and much lower fees. Is it not great?
To add more, deposits and withdrawals usually are free, and in most cases take less time if compared to other payment methods. Hence it’s much faster. Who wouldn’t love fast sportsbook?
Lastly, crypto gambling provides users with anonymity. The thing which we lack now. The only details crypto sportsbook has is your email, password and crypto transaction number. No more sportsbook name on the bank or card statement, no more personal details given away to shady providers.
All in all, crypto sports betting opens much more new opportunities. Especially, for the gamblers who want more. By saying more, we mean a much better supply of sports bets, bigger bonuses, friendlier rules, and finally the feel of innovation. Bitcoin sportsbooks are good and beneficial to the player!
On the other side, we would love to repeat ourselves, stays risks of huge price movements. The gambler must follow cryptocurrency news and markets to catch the right moment to buy or sell cryptos. Otherwise, it can end in even bigger losses. Or as optimists would say – even bigger gains. It depends on your view, and of course, skills.
Also, it gets not the most friendly view of institutions. But it may change pretty soon though. Some countries are more strict on cryptocurrencies rather than gambling. Accordingly, it’s necessary to understand and know your local regulations.
The online sports betting world features plenty of deposit methods. Depending upon the mobile bookmaker, you can fund an account with a bank transfer, credit card, e-wallet, prepaid card, or wire.
Bitcoin (BTC) is yet another popular deposit option. It has gained steam in the online betting industry over the past several years.
Of course, with so many banking options available already, you might wonder what’s the need for BTC. The following guide discusses nine reasons why you should consider Bitcoin sports betting.
1 – No Third Party Involved
The main problem with traditional banking options is that there’s always a third party involved. If you use a bank-issued Visa card, for example, then the bank serves as an intermediary. It can reject your sportsbook deposit at any time if it feels the need.
Banks must follow the laws and their given jurisdiction. A financial institution will likely block your deposit for legal reasons if necessary.
So, what happens when you live in a country/state where online sports betting isn’t illegal but banks still reject deposits? Provided you find a valid banking option, then you can deposit at a sportsbook without hassles and without breaking the law.
Bitcoin becomes very valuable in this instance. It allows you to fund a sportsbook account without the fear of being rejected.
No bank or government controls Bitcoin. Instead, this is a peer-to-peer network that only involves you and the intended payment recipient. This also means that there’s not much in the way of oversight, so be careful.
The miners who facilitate transactions by solving computational problems can’t see what your payments are for. With that said, there’s nobody to reject your transactions for any reason.
2 – Access to More Online Sportsbooks
Many mobile sportsbooks that operate in unregulated markets are turning to Bitcoin. They like the idea of a peer-to-peer network that allows them to connect directly with customers.
Therefore, you can find numerous Bitcoin betting sites. If you’re comfortable using BTC, then you’ll have many more options when looking for a sportsbook.
Some countries have restrictive banking laws that make it hard to place betting deposits. Assuming you live in certain US states, for example, then you may have trouble placing real money bets.
Again, Bitcoin has nothing to do with banks or other third parties. The result is that you don’t need to worry about restrictive laws hampering BTC.
3 – Low Fees on Payouts
Some banking options feature high fees that can cut into your bankroll. If you withdraw money using Neteller, for instance, then you’ll pay around 3% of the cashout amount to the e-wallet. Wire services are even worse because they take $35 per withdrawal.
Bitcoin isn’t entirely feeless itself. You do need to cover a small fee that goes to the miner who facilitates your transaction.
The keyword here, though, is small. You’ll generally pay 1% or less of the total amount of funds that are moved. If you’re cashing out $300 in BTC, for example, then you’ll likely pay $3 or less in fees.
4 – Quick Withdrawals
Every banking method differs with regard to the cashout speed. E-wallet withdrawals generally hit your account within 24 hours or less. Bank transfers, meanwhile, can take up to seven days to arrive.
Bitcoin isn’t usually as fast as e-wallets with regard to speed. However, BTC cashouts are normally available faster than most other banking methods.
You’ll generally receive your money within one to three days. With that said, you don’t have to wait long when getting Bitcoin payouts.
5 – Special Bonuses
Real money online sportsbooks often cover transaction fees on deposits. For example, they might cover a 3% Visa fee when you use a credit card.
Therefore, sportsbooks also stand to benefit from Bitcoin’s lower fees. As a result, they encourage you to use this cryptocurrency as much as possible with special bonuses.
Mobile sportsbooks offer deposit bonuses that are specifically dedicated to Bitcoin. For example, they might feature a 100% match bonus worth up to 0.01 BTC.
A one-hundredth of a Bitcoin doesn’t sound like much at all. Considering that the current price of BTC is $55,000, though, then 0.01 BTC is actually worth $550.
If you’re betting with Bitcoin, then you should definitely check your preferred BTC sportsbook’s promotions section. You might find multiple Bitcoin bonuses available.
6 – High Level of Anonymity
Depending upon your personal preferences, you might not like online betting transactions showing up on your credit card or e-wallet statements. This information could find its way to creditors and affect your chances of getting a loan.
Bitcoin, by comparison, offers much more anonymity than the average banking option. When using Bitcoin, you’re only identified by your wallet address.
Therefore, nobody knows when you deposit or cash out from online betting sites. Instead, people can only check anonymous addresses and see BTC being moved to and from them.
7 – Your Bankroll Could Go Up Automatically
Bitcoin’s main use isn’t as a currency. Instead, most BTC owners are speculating on its price hoping that this volatile asset increases greatly in value.
So far, those who’ve bought early and held have gotten rich. One Bitcoin was worth a penny when it became available in 2009. Now, it’s worth a whopping $55k per coin.
You can gamble in two main ways with Bitcoin:
- Placing sports bets and other types of wagers
- Speculating on if your bankroll/investment will go up in value
The latter can really be a rush given how volatile Bitcoin is. In early 2021, for example, BTC went up by over 500%!
8 – Deposits Become Easy to Make
Some online bettors avoid Bitcoin because they don’t feel like learning a new process. They’re perfectly fine with using payments systems they already know, like credit cards or e-wallets.
However, Bitcoin isn’t more difficult to use than an e-wallet once you get the hang of it. This is especially true when considering how easy exchanges like Coinbase and Gemini make the process.
You can start learning how to use Bitcoin by creating an account and exchange. From here, you enter your banking details and transfer money to the exchange.
Afterward, you’ll be able to buy BTC and/or whatever other cryptocurrencies are available. You then go through the simple steps of sending your Bitcoin to the relevant online sportsbook.
You might also consider creating a BTC wallet that’s separate from the exchange. A common saying in crypto is, “Not your keys, not your Bitcoin.”
This phrase alludes to how the exchange technically controls your coins if you leave them there. However, you probably don’t ever need to worry about this aspect when using a reputable service (e.g. Binance).
You can especially consider skipping the wallet creation if you’re mainly using the exchange to send and receive Bitcoin from a betting site.
9 – Get Extra Bonuses at Crypto Exchanges
Bitcoin Sports Betting
Earlier, I covered how you can get special Bitcoin sports betting bonuses. But you can cash in even more through bonuses offered at exchanges.
Many crypto exchanges provide some sort of signup bonus. For example, you might receive $5 or $10 in BTC when signing up.
The same exchange may have a loyalty program where you earn rewards based on your trading volume. You’ll receive a percentage of trading fees back in this case.
Coinbase even features an “Earn” program that allows you to get free cryptocurrencies for completing quizzes and watching videos. That said, you don’t just have to stop at the sportsbook itself with regard to bonuses.
Bitcoin Sports Gambling
Mobile sports betting is all about entertainment and, hopefully, winning money. That said, you don’t want to worry much about how you’re going to make deposits and cashouts.
Bitcoin betting sites help eliminate this headache. BTC serves as an easy way to move funds on and off mobile sportsbooks.
It offers a peer-to-peer network that uses miners, instead of third-party intermediaries, to facilitate transactions. It also features low fees and fairly quick transaction speeds.
Bitcoin Sports Guide
If you’ve ever had trouble depositing with credits cards, e-wallets, etc., and hate the fees involved, then you should definitely consider BTC sportsbooks.