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The significance of the cryptocurrency revolution on sports betting is becoming profound every day, as punters are beginning to see its many benefits. Indeed, bitcoin betting comes with several mind-blowing opportunities that make it better than wagering with real cash.
The possibilities of fast deposits and payouts, anonymous transactions, and secured gambling make it worth its salt. Undoubtedly, it has transformed the face of sports bets in the world.
Now, while it’s fast becoming the choice of crypto-inclined punters, there’s a need for a piece like this that provides detailed information on what it represents. Keep up with every line to learn all you need to know about BTC betting.
Thousands of bitcoin betting sites litter the internet space. As such, it’s difficult to sieve out the authentic ones from scam sites. It’s even more difficult if you are new to this industry.
But then, selecting the best bitcoin betting sites is not rocket science. It is a straightforward process, but that’s if you know what criteria to watch out for. The following tips will come in handy for selecting the right sportsbook that accepts bitcoin:
This is one of the most important factors to consider when researching BTC bookmakers. Never choose a site without SSL encryption. If you do so, you risk getting your account compromised by a third party.
Your winnings can be transferred to another untraceable wallet address. This would be your loss because bitcoin sports betting platforms don’t track BTC transactions. Even if it’s possible to track such transactions, it’s impossible to reverse them.
One fast way to identify a sham operator is if it operates without a recognized license. A standard online bookmaker should be licensed to operate by a reputable gambling commission. Steer clear of crypto platforms that operate without a legal gaming license.
Regarding sports betting, you should have multiple sport events to choose from. The essence of online gambling is entertainment. You will be short changing yourself if you play at a BTC sportsbook with a limited number of gaming events.
Apart from that, the markets should be diverse too. Also, the odds for each market must be favorable. Cross-evaluate two crypto gambling websites and go for the one with the best events and odds.
Bonuses are useful for preserving your bankroll. When you’re low on cash to play at times, bonuses come to the rescue. That’s why choosing an online bookmaker with massive bonus packages will be in your best interest.
Nothing beats applying for withdrawals on a bitcoin sportsbook and getting it approved in no time. Different BTC sportsbooks exist where you can process your winnings within a split second. These are the types you need for the best gaming and gambling experience.
When you run into issues or need to clarify certain bonus packages or anything whatsoever, the support team must be at your beck and call. It’s frustrating when you need to wait for hours with no response from the so-called client service.
The best way to know if the team is reliable is by reading reviews by punters who have played on the site. Alternatively, get your hands on the sportsbook review from a trustworthy review site.
The benefits of betting with bitcoin are enormous. They are all-encompassing and better than gambling with real money in every way. Listed below are several perks:
Bitcoin sportsbooks are not affected by cash control regulations except those that double as real money sites. BTC betting sites deal with various digital currencies, including Ethereum, Litecoin, Ripple, and Dogecoin, to mention a few. These currencies are decentralized, meaning the central financial institutions do not control them. That way, crypto bookmakers are invisible to regulatory agencies and financial institutions.
Mostly, BTC betting platforms offer more premium gambling services because they are invisible to financial constraints that might affect their monetary policies.
Unlike real money platforms, BTC sites are pocket-friendly options because every transaction comes at zero or very low costs. You get to save the bulk of your wagering power on these sites and use it for more gambling exploits.
It’s in a player’s best interest to choose a website where he or she wouldn’t need to pay for deposits, withdrawals and every other premium casino service. The only place to get this perk is an online BTC sportsbook.
In most cases, free deposits or withdrawals in a real money casino are not free. This is because other hidden charges apply to every transaction, especially from selected payment options. That’s not the case with crypto betting sites. If they promise no-fee transactions on deposits and withdrawals, that’s the truth.
It’s getting difficult to deposit or withdraw with online bookmakers because traditional banking options are becoming defective. It takes too much time, even when you successfully perform a transaction on these platforms. It’s becoming frustrating, and many online punters are complaining every day.
Thankfully, the solution to delayed payment and glitch-infested transactions in bitcoin sportsbooks. The possibility of conducting swift, easy and convenient banking methods for online gambling has been made real by these BTC betting platforms.
Bitcoin sports betting websites have come to stay and are attracting more players daily. Bet with bitcoin to avoid the frustration that accompanies betting on real money gambling sites.
You can’t compare BTC bonuses to real money rewards. You may not appreciate the value of these gifts until you get them and use them to amass decent winnings. Upon changing them back to fiat currencies, that’s the point where you realize how valuable they are.
Without mincing words, bitcoin sportsbooks offer better and bigger bonuses than their real money counterpart. It’s best to take advantage of these rewards to amplify your experience.
Some bitcoin betting platforms are full of magic. Once you deposit with BTC, they automatically transform the coins into USD. This way, they save you the stress of worrying about volatilities, which may subsequently affect the value of your winnings.
One of the greatest downsides of coins is its high susceptibility to market fluctuations. It’s even worse when the price market is on a downward slope. On the flip side, when the market is moving upward and upon reconverting your cash to BTC, the value increases.
Choosing a bookmaker that protects you against market volatilities is the real deal; that way, you get to gamble in grand style.
Bitcoin sportsbooks pass for their reliability. On these platforms, there’s nothing called delayed or declined transactions. Once deposits or withdrawals are validated, they are processed within an instant without any hassle.
You can fund your wallet as many times as possible, too. This is not the case with several online real money platforms, as they usually limit fund transaction time.
Most punters believe that the types of games they can play are limited when they play with BTC. That’s not true!
Just like you bet on a wide range of sporting events when you play with real money, that’s how it is when you play with coins. The only thing to watch out for in choosing an online platform with multiple markets and odds. If not, your gaming experience might be limited. Enlisted below are popular sports events that accept coins:
Should you like to place bets on the EPL, or La Liga, there are several crypto markets to explore on bitcoin sportsbooks. This is because soccer events have the greatest number of sports punters in the world who are beginning to embrace bitcoin betting gradually.
Numerous markets, including the correct score, over/under, 1X2, double chance, and handicap, to mention a few, are available for you. Increase the value of your bets by playing with BTC to get incredible rewards upon reconversion to fiat currency.
If you are a cricket enthusiast, get your game on by wagering on appropriate events. The game mode is similar to what’s in the usual online casino. The only difference is that you’d be wagering with BTC or any other type of digital currency, but not real money. As usual, you can play lay, back or any other odds that appeal to your gaming prowess. Mind you, never jump on BTC cricket without thoroughly analyzing the team, market and odds. Ensure to have done the needful before punting.
Yes! It’s possible to bet on your favorite NBA all-star. If you choose correctly, you can earn massively in coins by wagering on fixed and live games. Basketball is a lovely spot, and we know how much you enjoy staking on your favorite teams. Transpose this excitement and wager with coins to get huge benefits from the sports. However, understand the game’s dynamics and know when to run with the underdog to avoid losing your highly valued BTC.
Hockey sport is no exception when it comes to bitcoin bets. Bag considerable winnings in BTC by leveraging on a value bet or sticking with your pro team. The experience is better when you play with coins because the rewards are always better and cannot be compared with real money winnings. Available markets in BTC hockey include goals (over/under), totals usually categorized as the money line, and point spread, categorized as a puck line. It’s possible to wager on in-play bets too. This gives you leverage to determine your bet based on the actions that unfold in the live game.
Golf tyros and pros can experience luck in a different dimension by staking on the golf markets with BTC or other digital currencies. Place bets as you deem fit, as several options are available for play. It’s possible to punt on the whole tournament or specific sections to determine the winning champions with the least strokes. It’s possible to punt on special events, too, including futuristic bets on the overall tournament champion.
Horse racing is an incredible sporting event exclusively reserved for players with keen eyes for horses. The main gig is to predict the exact horse that gets to win the race and bag a lot of cash by choosing to make the correct prediction. Crypto horse racing comes with better perks as you get to increase the value of your rewards and enjoy the benefits of playing at a BTC sportsbook. Other sporting events with crypto include esports and virtual betting.
Placing a bet with bitcoin comes with bigger perks and minor downsides. The pros and cons are reeled out below. Check them out to know what you stand to gain betting with sportsbooks that accept bitcoin:
BTC betting is the go-to spot if you like to play with a hidden identity. Digital currencies are built on secure blockchain technology, which requires no KYC data. It works only with special codes. Should you need to process any transaction, your wallet address is the only thing you have to send. That way, no sensitive details about you are revealed, not even to the online bookmaker.
Your transactions can’t be tracked, but they are viewable, thus, giving room for transparency. Nothing can happen to your coins, even if your wallet address gets leaked. It’s even possible to generate a new address.
The government does not regulate digital currencies and crypto-transactions, nor are they regulated by banks or any third-party firm. This implies that transactions are often conducted in ghost modes without traces or glitches.
When you choose a betting site, there are no worries about how much you can move around or keep. However, your chosen sportsbook can regulate deposits and withdrawal amounts. Aside from these, there’s no more it can do.
BTC or any other crypto payments are processed with lightning speed. Whether deposits or withdrawals, it is processed with the twinkle of an eye. Blockchain transactions are mostly swiftly delivered; that’s how the system is designed.
It’s in your best interest to opt for crypto sports gambling because you can always deposit and withdraw funds at your convenient time.
High Return Potential
Digital currencies, including bitcoin, ethereum, and litecoin, are often influenced by market volatilities. That’s to say that their prices are not stable and it keeps changing as determined by several factors.
When you buy coins, and it appreciates, its value in fiat currency increases. Imagine making a huge profit with coins and converting back to fiat currency at a period when the BTC price is appreciating. You sure would be in money!
Once transactions are processed with coins, it’s impossible to reverse them. This does not apply to only bitcoin but all cryptocurrencies. The fact that BTC transactions cannot be reversed or tracked makes it possible to doubt its security and transparency.
Real money can be tracked in case of any error. Even funds deposited by mistake can be refunded. This is impossible with digital currencies.
The biggest problem of bitcoin use is that the currency is subject to consistent market value fluctuations. The prices change as determined by market situations and are influenced by the forces of demand and supply. So, the price might be high in a minute and low by the next minute.
The risk of loss is high for bettors because of this volatility defect. The value of cryptocurrency in a player’s wallet or account can depreciate in no time. Apart from the forces of inflation, which may affect the value of real money, it’s not subject to unexpected price changes. Punting with real money is advisable, but BTC offers better rewards when the volatility is in a player’s favor.
BTC is limited in use as far as sports betting is concerned. Only a handful of players understand what bitcoin represents. Most bettors have not even heard about it, talk less of buying coins for their needs.
It’s even hard for certain punters, especially those who are not digital-oriented, to understand how crypto works. Despite this setback, the truth is that coins hold huge potential for better opportunities. As more players get a grasp of how it works, it sure that its use would become popular in no time.
Aside from the fact that you can use crypto for daily transactions, this digital currency has entered the gambling world and has completely changed the narrative. Betting with Bitcoin has made the process more convenient, easy, less stressful, and quick. Although BTC is a new invention, many websites have embraced betting via this medium. It has abolished gamblers having to deal with bank delay issues. Also, Bitcoin betting ensures that you don’t have to deal with credit card issues that might sometimes give you a hard time on several betting sites. What’s more, the security is top-notch, as you do not need to worry about your coin’s safety.
Here are a few steps to follow to make betting with Bitcoin easy and successful.
The first step to betting with bitcoin is creating a crypto wallet. A BTC wallet is where your coins are stored without the interference of a third party. Only you have access to your coins, which can’t be tampered with or transferred without your knowledge.
Different companies cater to digital wallet needs online; you only have to use reputable and trustworthy ones. Sending your crypto funds to your wallet enhances easy transfer to your account and safe storage. You only need your wallet address whenever you need to make transactions, then transfer BTC from your exchange account to your wallet, which will be done in a matter of minutes.
Since you’ve got the key to your crypto exchange, which is the BTC wallet, you can now proceed to buy coins. You purchase coins with real currency from top exchange companies like Localbitcoins, and Binance, among many others. These establishments will turn your money into coins without wasting time. But certain charges might be deducted. You’re expected to provide your wallet address, which you got while creating a Bitcoin wallet, and the coins purchased will be released into your account.
Before buying, scout for the seller with the best price that favors you, reach out to them and state the amount of coins you need to purchase. You will receive an amount of BTC equal to the currency you deposited. After payment, ensure that you indicate that you’ve paid so that the seller can transfer the Bitcoin into your account without wasting time.
After deciding that you want to start betting with Bitcoin, and you’ve gotten coins into your digital wallet, you can now enroll on the site chosen. Ensure that the betting platform you’ll be registering on is trustworthy, safe, and reliable. Also, make sure that you check out their good deposit and withdrawal options and that they consist of coins.
Your registration will be completed in a few minutes after you’ve provided all the details that the betting site needs to validate your profile. Process for setting up an account differ based on the online platform, but most offer simple procedures.
You have nothing to worry about as it is as easy as choosing any other medium such as bank transfers, debit or credit cards, etc.
Visit the betting site you’ve registered with and log into your account. Go to the payment section, where banking options are available. Click on deposit, and you’ll see all the payment options the betting site offers. Choose digital currency as your preferred deposit method. After this, choose BTC because there are many other crypto options. What’s more, using bitcoin as your preferred deposit medium comes with many advantages, including swift and anonymous transactions.
Once you are ready to place a bet, prepare to make a deposit. This is where the task lies for punters who are in a rush to explore the sports betting site. It’s best to avoid such a rush to avoid running at a loss. Yes, you’ve purchased your bitcoin and saved them into a wallet address. But any transaction you’ll make with it subsequently requires you to get the other party’s wallet address for such a transaction to be successful. Now head over to the website and request their wallet address. Every online platform that accepts coins will surely provide the BTC address that bettors will use to deposit.
This is also an easy step, and you don’t have to worry whenever you need to deposit to place bets. Input the amount of coins you wish to deposit, and you’ll get the sportsbook’s BTC address to which you’ll send your digital money. Copy the correct BTC address to avoid funding the wrong address. Once you’ve achieved this, it won’t take more than 15 minutes before the Bitcoin will reflect in the bookmaker’s account. The procedures for withdrawals are similar to what has just been explained.
As sports betting gets more popular by the day, bettors get the feeling and excitement of getting to watch their favorite game and placing a bet to win a huge amount of money. There are several events that you can decide to place on. You can bet on soccer (the most popular), hockey, handball, basketball, horse racing, etc. You will find a comprehensive list of events and sports on every bookmaker’s website. Choose the one that appeals to you and check out the market and odds available for such events. You can now place your bet using Bitcoin with just a few clicks and hope for a favorable result.
It’s possible to claim bonuses at a sportsbook casino the same way you claim at a real money gambling body. The better news is that BTC bonuses and promotional offers hold greater value if compared with bonuses grabbed in a normal online casino. Let’s take a look at the different types of rewards available for crypto players.
As the name implies, this is the type of bonus you claim by first making an initial deposit to the casino. Without funding your account with the required BTC amount, it’s impossible to claim this reward.
An example of a deposit bonus is to deposit 0.005 BTC to get 0.0001 BTC. This promotion comes in different types and shades. It’s usually offered as a casino welcome package and a match deposit bonus.
No deposit is required to claim this type of bonus. Most players like to get this gift because it gives them automatic access to wagering on games without taking anything out of their pockets. It’s the ideal type of bonus to claim when you want to confirm what a casino offers.
BTC no-deposit bonuses are scarce to find. What’s obtainable in all crypto casinos is the deposit bonus. However, this is not to say that the bitcoin no deposit bonus does not exist. It does exist; it’s only limited in supply.
This type of crypto bonus is claimable once and is specially reserved for new clients on a BTC website. It might be a deposit bonus where you’d have to fund your account with a required amount of BTC or a no-deposit bonus
The match deposit bonus is a special deposit promo that gives a specific percentage value on different deposits. A 100% or 150% deposit reward of up to a stated amount is a typical example of a match deposit offer. In more detail, you’ll get 0.005 BTC on this bonus that offers 100% on a minimum deposit of 0.005 BTC.
Existing players are at liberty to claim the bitcoin reload bonus. It’s a type of reward that comes with a deposit option. Even its value varies as determined by the weight of your transaction. To enjoy it, you’d have to deposit again to the bookmaker to claim whatever value of bitcoin is allotted to you.
Reload bonuses available on numerous crypto sites might be restricted or unrestricted. It’s restricted when you become ineligible to claim the bonus because you’ve got it over the stated period. On the flip side, it’s unrestricted if you can claim it as many times as possible.
Cashback for bitcoin sports betting allows you to wager your loss again. Usually, it’s a percentage of the total loss you incurred for a specified period on the site.
You can’t claim a cashback without first punting on a certain sports game. That’s like trying to steal from the sportsbook. The beauty of cashback is that they can be put to good use again as you have the opportunity to win again when you use them.
Yes! It is safe to play with coins. Notably, digital currency is one of the newest financial technologies dedicated to impacting the sports betting industry positively. With cryptocurrency gaining new ground and becoming one of the most popular means of transactions, the gambling industry has embraced its many benefits. Many people now prefer to place bets and gamble via digital currency instead of bank transfer, using credit and debit cards and many other e-transaction mediums.
The primary reason why many bettors and gamblers do this is that crypto has proven to be safer than any other payment method. Digital currency is built on a sophisticated technology which proves that the probability that it can be hacked is close to zero. Hence it is safer than traditional currency.
Also, betting with coins is less risky because your personal and financial information will not be compromised as any form of third-party interference is abolished. No one has to know your name or financial status; this is even kept safe from the sportsbook. Placing bets with crypto guarantees privacy and anonymity, and the bettor’s data is secured and kept safe from prying eyes. There is anonymity for both online bookmakers and bettors as you only get to deposit using a wallet address provided by the bookmaker. You can also make a withdrawal by providing your wallet address.
Yes! It is legal to make a bet with crypto. The decentralized nature of cryptocurrency has made it more popular. Even though it’s the main reason many people doubt it and don’t want to rush into placing bets with it. The fear of losing money has made many bettors to consider if it’s legal or not. The legality of digital currency is often questioned because of the controversies surrounding it. The gospel truth is that even though many people across the continent widely use digital currency, there is no specific rule or regulation laid down by countries that regulate its activities.
Malta is the first place where all the laws currently guiding digital currencies, such as the blockchain law, VFA, ITAS, and MDIA, were made. There are jurisdictions where cryptocurrency is prohibited, but its exchanges by citizens are okay. For instance, in the United States, any form of online gambling is prohibited, and the same goes for crypto betting. In 2021, El Salvador accepted cryptocurrency as a legal currency in the country. So placing a sports bet with coins in this country is legal. The United Kingdom imposes many restrictions on digital currency gambling but endorses bitcoin as a store of value.
In many regions, it is neither officially allowed nor prohibited. However, with advancements in technology, the attitude of many authorities is changing positively towards cryptocurrency. Several countries are now putting into consideration the regulation of digital currency.
There have been mixed reactions from people as to whether cryptocurrency transactions are anonymous. BTC transactions are anonymous because you can send and receive money from people without them knowing anything about your identity. Unlike other forms of transactions, all you need for a successful transaction with bitcoin is a wallet address. An individual can own multiple wallets. But it’s impossible to link those wallets together because it’s impossible to prove that the same person owns them. This is not the case with bank transfers which are regulated. Where an individual possesses multiple accounts, they can be linked to the same person.
On the other hand, financial history and transactions made via Bitcoin can be made public due to associated data that creates a trail. Anyone on the network can access all transactions made. They’ll be able to track each transaction’s date, value, and time and the address to which the coins were sent. But the identities of the people behind those wallet addresses are never disclosed. Every transaction made via Bitcoin is properly documented and kept safe on a ledger accessible to everyone. So anyone trying to use Bitcoin for illicit transactions should know that their activities are seen.
Yes! Bitcoin is the fastest payment method available on sportsbooks. All major bookies offer various banking options to make deposits and withdrawals easy and accessible to all bettors. Some of these ways take forever as money deposited into an account might not reflect for days, and withdrawal might also take forever to be approved. Some popular payment options include Mastercard, Debit card, Bank transfer, Neteller, Skrill, Ecopayz, Click2pay, Paysafe, Cryptocurrency (including Bitcoin, Litecoin, Ethereum, among many others), PayPal, etc.
Compared to other payment options, bitcoin is fast, safe, and reliable. Deposits are instant as funds deposited into an account reflect immediately, and you can start placing bets with them. Other payment options hold up transactions, and you might not get to bet due to the delay. As long as your sportsbook accepts coins, there are no major limitations on how you can use BTC to make payments.
Deposits made via bitcoin to bookmakers take nothing more than 10 minutes, while other mediums take hours and even days. The same applies to withdrawal as you get your money in just a few minutes instead of waiting for several working days. Payments to platforms via blockchain are faster and cannot be compared to any other medium.