Bitcoin Sports Betting Guide
Sports betting on the Internet is one of the most lucrative and exciting ways to get a slice of the action while enjoying the thrill of potentially winning big.
Choosing the right sportsbook can be a challenging experience, especially since there are so many options available, so we decided to make things easier for you.
Once you take the plunge and start your sports betting journey, you may be considering using Bitcoin for your online betting deposit. In this case, you will need to find a Bitcoin-friendly sports betting platform, and fortunately for fans of the digital currency, there are plenty of options.
Specialized Bitcoin Sports Betting Sites
Many of the biggest online sports betting sites have already seen the value of Bitcoin and integrated it as an accepted method of making deposits and/or withdrawals. In fact, these major brands have not only accepted it but have made the cryptocurrency a big part of the business.
Because of the growing popularity and interest in Bitcoin, sports betting sites have ensured that its services are as Bitcoin-friendly as possible, with more platforms joining the cause.
Many of these sportsbooks offer generous bonus plans and incentives to motivate bettors to use Bitcoin instead of standard online banking and outdated methods. Using Bitcoin benefits both the bettor and the sportsbook and the platform saves money, and the player enjoys the freedom of little or no transaction fees, no third party involvement, increased privacy and more financial flexibility.
Recommended Sites for Bitcoin Sports Betting
Our list of recommended Bitcoin-friendly sportsbooks is tested and reviewed to ensure the highest quality betting options and procedures. These sites have met our strict criteria, which include a variety of betting markets, safety and security, the platform's licensing, certification and trust, bonuses and promotions, and usability.
Some of our top recommended Bitcoin sports betting sites include:
What is Bitcoin?
If you've heard the word 'Bitcoin' thrown around, you are not alone. Bitcoin is a virtual currency that has been around for a few years but has seen an insurgence of interest in recent months. An unknown person who goes by the alias of Satoshi Nakamoto created the digital currency in 2009.
How Bitcoin Gained Momentum
When Bitcoin was first introduced to the market, many individuals and vendors were wary accepting an unknown currency, but these days the cryptocurrency is becoming more and more mainstream. It has become a strong contender in the industry, with many sectors embracing this new and exciting financial time and accepting Bitcoin as a reliable and convenient banking option.
One of the first sectors to truly encourage the use of Bitcoin was the online gambling industry, which includes many of the biggest casinos and sportsbooks on the Internet.
Bitcoin is a digital currency created by using mathematical computations and is generated by millions of individuals known as 'miners.' Bitcoins are stored and traded digitally and do not exist in a physical form.
This is done through the use of a 'wallet,' which exists either on a user's computer or in the cloud. Bitcoin can be used as a currency with which to pay for goods and services. This virtual currency is completely decentralised, so no banks are involved as a third party, ensuring the complete anonymity of its users.
In addition, there are no associated transaction fees, making Bitcoin an excellent option for those looking to enjoy online gambling anonymously in the privacy of your own home.
How Bitcoin Sports Betting Works
Bitcoin sports betting is one of the most convenient forms of betting on the Internet. Betting with Bitcoin works the same as placing bets with standard methods but with additional benefits. In addition to a variety of sports markets and events covered, the odds and betting options make Bitcoin sports betting a top choice for serious bettors.
Benefits to Depositing with Bitcoin
With Bitcoin sports betting, players will find that there are different odds formats like moneyline odds, American odds, decimal odds and fractional odds, to name a few. As mentioned before, many online sportsbooks are offering extra bonuses and incentives to bettors opting to use Bitcoin as a deposit or withdrawal method.
Operators know how enticing sports bonuses and promotions can be, so they make sure that there are always excellent deals lines up for the picking. Many of these vendors start with a generous welcome bonus, followed by additional deposit bonuses and rewards to loyal and ongoing bettors.
Advantages to Playing Bitcoin Sports Betting
There are many advantages to Bitcoin sports betting, some of which were mentioned before. Bitcoin sportsbooks cover many sports, including some of the most popular by region like football, American football, basketball, rugby, cricket, tennis, hockey, athletics, MMA, and more.
In addition to the variety on offer, Bitcoin sportsbooks can potentially offer higher odds than traditional currencies on certain events. If you want to make sure that you are getting the best odds on a particular event, it is a good idea to check the odds on various Bitcoin sites.
Another advantage is the ability to bet on international markets, which you may not be able to do with any regular sportsbooks. Some Bitcoin sportsbooks also offer incredible welcome bonuses when you join the website, which includes regular betting bonuses and referral programs. Players should keep an eye on the promotions section for the latest offers.
Another great advantage of Bitcoin sports betting is the ability to indulge in the activity with complete anonymity as you will not have to provide any personal or financial information beyond your email and Bitcoin address. Money is also transferred instantly, so there is no waiting period when making a deposit or withdrawal.
More and more players are starting to understand the benefits of Bitcoin. This includes usability, anonymity, flexibility, and overall saving of money. These factors give Bitcoin sports betting an edge over traditional methods, and many sportsbooks are becoming aware of this.
That being said, players using Bitcoin should make sure that you choose a legitimate and reliable online sportsbook with an established reputation to reap the most rewards.