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Bitcoin betting sites are currently experiencing exponential growth, with punters looking for trustworthy bookies who offer crypto sports betting. If you are new to cryptocurrencies or are keen to learn how to bet with Bitcoin. We have lots of useful information on Crypto, such as the advantages of Bitcoin sportsbooks, as well as the very best Bitcoin bookmakers and anonymity.
Introduction to Crypto Sports Betting
In response to the increase in popularity of cryptocurrencies, as well as the boom in their value, online betting sites have been quick to offer punters the ability to bet with Bitcoin, Ethereum and other popular coins.
The option of being able to bet with Bitcoin offers gamblers the ability to deposit quickly, make instant withdrawals and facilitate anonymous betting; for those who value their privacy.
Cryptocurrencies also offer some of the lowest fees available, when compared to other deposit methods. But there are many unscrupulous online gambling sites, you want to make sure you are making payments to a trustworthy bookmaker; we’ll tell you exactly how you find that out.
Best Bitcoin Betting Sites
For those of you who are just looking for a new bookie or may well be a bit more crypto savvy, we’ll dive straight in with our best crypto sports betting sites. Everyone else may want to skip past this and come back to it later.
The familiarity of some of these crypto sports betting sites may come as a surprise, that’s because we have a workaround; that allows you bet with Bitcoin at some of the biggest bookmakers.
Sadly a lot of the lesser known sites that take direct Bitcoin payments are far less regulated, making then not as safe to use. So with our recommendations you can rest assured that they are legitimate and fully licenced.
*Bet with Bitcoin using Neteller
How to Choose Your BTC Bookmaker
There are a few things to consider when choosing the best Bitcoin betting site for you, as the best bookmaker might not quite be the right fit for you.
Think about your specific requirements, as you want to make sure as many boxes are ticked before selecting your perfect BTC betting site.
So with this in mind, we’ve run through the main components most people look for in a cryptocurrency sportsbook.
It may be that signing up to two or three may be necessary in order for you to fine tune your selection, before settling on your preferred bookie.
Location Restrictions for BTC Gambling
This is without a doubt the consideration for anyone wanting to use Ethereum to bet online, or any other crypto for that matter. Not only are there specific restrictions for online gambling in each country, but there are also limitations on cryptocurrency payments in some regions.
For instance, if you’re fond of NFL betting and live in America, then the state you live in may not allow legalised online gambling. So a Bitcoin only betting site may be an option here as payments cannot be traced to a specific location. But the risk here is the lack of regulation if something goes wrong with a deposit or bet payout
Whereas in the UK you have the luxury of being able to use online gambling sites which accept cryptocurrency payments; as well as sportsbooks who only accept crypto betting.
So what’s the easiest way to find out if any of our best Bitcoin betting sites operate in your county? Well that’s simple, just click the link above!
Bitcoin Betting Markets
This isn’t just specific to gamblers wanting to use cryptocurrencies, it’ll simply good practice to make you’re a chosen sportsbook offers your favourite betting markets.
While most online bookmakers offer a whole host of sports to bet with Bitcoin, just like with location restrictions, the country you are based in can impact what markets are available.
So while the likes of bet365 have lots of options for football and rugby betting, their NBA betting or NHL betting markets are more limited.
But research shows that people looking for crypto betting sites tend to favour markets in the esports or virtual sports betting arena.
Crypto Betting Site Trust and Reputation
An absolute must when choosing your crypto betting site, is ensuring it is trustworthy and has a good reputation with customers. Gamblers looking for anonymous betting can sometimes end up being steered towards rogue sites, whose entire marketing strategy revolves around anonymity. Fortunately you can still bet anonymously while staying on the right side of the law.
Firstly you will want to ensure your Bitcoin betting site is fully licenced. Most trustworthy gambling sites will hold a recognised licenced issued by authorities such as the Curacao Gaming Authority or UK Gambling Commission. Some BTC gambling sites will hold licences from multiple authorities, highlighting their level of trust.
Establishing how reputable a crypto sports betting site is takes a little more leg work, as this is generally based on customer experiences. So you can’t just take a bookies word for it, or simply rely on reviews placed on their site; as they will obviously cherry pick which reviews appear.
For reputation it’s always best to check out sites like Trust Pilot, who rely on actual customer experiences as their rating system; Gambling forums are also a good source of truthful information about an online sportsbook.
Length of service is also worth considering. An established bookmaker will have been able to build a better reputation than a recently launched site; due to their longevity.
But if a new betting site is looking like it’s building a good reputation, don’t instantly dismiss it. It may be worth treating it as a secondary Bitcoin bookmaker, as they tend to win over customers with strong bonuses and promotions.
Anonymous Betting with Bitcoin
As we’ve mentioned a few time in this post, anonymous betting is a big draw for some people looking to bet with Bitcoin. Especially as part of the appeal for cryptocurrencies in general is anonymity.
Signing up and making payments at a cryptocurrency only betting site helps customers keep the privacy they value. As it gives you the control to keep your identity and financial information safe and away from prying eyes.
If you are looking for completely anonymous betting, then we recommend signing up to Betcoin. But if it’s purely security that you are after then any of our best Bitcoin betting sites will be perfect for you.
How to Bet With Bitcoin and Crypto
It may come as a surprise to hear that betting with Bitcoin isn’t as daunting as you may think. It can be done relatively easily, providing you have the fundamentals in place.
Firstly you have to find a trustworthy Bitcoin betting site, which we have hopefully helped you with. Secondly make sure they accept crypto payments using your preferred exchange or payment provider. Finally and most importantly, you need to own Bitcoin or another accepted cryptocurrency.
Once you have all of the above elements, you’ll be ready to bet with Bitcoin. Simply visit the cashier section and enter the amount you want to deposit. Then select your crypto provider and complete the transaction.
The payment should instantly be available in your account, meaning you can jump straight in and place your bet using Bitcoin.
Using a Bitcoin Exchange
There are now lots of crypto exchanges available for people to use, such as crypto.com, eTorro and Coinbase. We personally have an account at Coinbase so can highly recommend them.
Once you have chosen your exchange and completed the sign up process, you will need to add funds to your account; which can be done by debit card or bank transfer. You can then exchange that cash for Bitcoin or other crypto currencies, ready to transfer to you crypto sports betting site.
Bitcoin Betting with Neteller
You may recall we mentioned we had a work around to be able to use crypto sports betting at some of the biggest bookmakers. This is how it can be done and be done legally.
A few years ago eWallet giant Neteller began accepting and processing Bitcoin payments. This was an absolute game changer when it comes to betting with crypto and opened up some amazing bookmakers; we recommend selecting one of our best Bitcoin betting sites.
Not only does Neteller make more sites available, it also adds more security by allowing you to bet at a more reputable crypto sportsbook than you are used to. If you have never used them before then you may want to open an account with Neteller and give them a try.
Once you have done this then you can’t go wrong in choosing to bet with Bitcoin at bet365.
Making a Withdrawal Using Bitcoin
You’ll be pleased to hear that making a withdrawal at a Bitcoin betting site is simple, just like with any regular payment option or cash out betting sites; plus it the only true instant withdrawal option available.
The withdrawal time is instantaneous as the money doesn’t move between banks, especially for Crypto sports betting sites that only accept digital currencies. But be sure to enter your wallet details carefully, as we wouldn’t want those coins to go to the wrong cryptocurrency account by mistake; as they are non-reversible.
We generally prefer to use a eWallet for our transactions, as you can remove the funds in a fiat currency; so the amount you withdraw will always remain the same value. As cryptocurrencies are renowned for fluctuating quite heavily in value, meaning your big win could actually be worth less in a short period of time.
It’s also worth noting that some betting sites that offer Bitcoin payments put a cap on weekly withdrawal limits. This could also impact the value of your win if you are unable to get your money out in one withdrawal.
So it getting paid in cash may be the better route, then you can just convert the cash back to digital currencies.
Should You Bet With Bitcoin?
Just like with any other payment method, placing a bet with crypto has its pros and cons. Whether or not this will deter you or encourage you from using it. So with that I’m mind we’ve highlighted what we think are the main benefits and drawbacks.
Benefits Bitcoin Betting
The biggest draw of using this funding method is probably the most obvious and that’s to do with speed. The processing of Bitcoin payments and withdrawals at betting sites is really quick, possibly the fastest available. The transaction will be ready to bet within a matter of minutes.
We obviously mentioned this earlier but it is another big bonus of using cryptocurrencies and that’s anonymity. Some crypto sports betting sites offer complete privacy for customers using a digital currency and also allow you to bet with them from any location in the world.
The last major benefit lies within the transaction fee of deposits and withdrawals. If you are a seasoned gambler you will no doubt be use to handing over chunks of cash to payment providers. Fortunately that isn’t the case with crypto, as in some cases the fees for processing payments can be up to 90% cheaper than bank transactions.
Disadvantages of Crypto sports Betting
Now this is the section that may have you second guessing placing a bet with crypto, as to some the drawback can be quite significant.
As much as anonymous betting appeals to some with the thought of their information being private. The majority of betting sites that offer it are completely unregulated.
This means that your money may be at risk if the site collapses or if they refuse to pay out, as there is no governing authority to complain to get you your money back. Also as you haven’t used a card or other traditional banking payment methods, you can’t use a chargeback to claim your refund.
But for us the main deterrent when betting with Bitcoin is the sheer volatility of it. Its value can fluctuate quite significantly within just a few hours. So if your win is in your betting wallet as Bitcoin and you are unable to physically request a withdrawal for a few hours of landing a winning bet, the value may have dropped; meaning you could actually walk away with less of a cash value than you initially thought.
Bonuses for Bitcoin gamblers are also rare or of little value compared to conventional methods. Most betting sites offer new players a welcome bonus, but you won’t be able to take advantage if you bet with crypto. And the same goes for most other types of loyalty bonuses or regular promotions.
Bitcoin Sportsbook Betting Alternatives
If you are new to the idea crypto betting and were just wondering if it was a good fit for you, there’s a chance you may not still be convinced in its validity. But that’s fine, it’s not for everyone.
Fortunately it’s not your only payment option, the following online betting banking methods are far more widely accepted; as well as being trusted by regular gamblers.
As well as the payment providers above, some well-known sportsbooks also offer their own payment methods which have some unique benefits; such as the William Hill Plus Card App and the Coral Connect Card
Bitcoin Gambling Summary
So there you have it, all of the information we have about Bitcoin betting sites and crypto sportsbook betting. Hopefully we’ve covered everything you wanted and fully explained how easy it is to do so that you are ready to place your first bet with Bitcoin.
As for the best betting sites, we’ve opted for ones we feel offer extra levels of security and are extremely trustworthy; so you can rest assured you are in safe hands.