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Bitcoin is the world’s most popular cryptocurrency, and there’s a growing number of people who enjoy Bitcoin betting on a range of sports. Whilst most people know what Bitcoin is, it seems that not all bookmakers allow you wager with the cryptocurrency.
Our guide to Bitcoin betting will show you some of the betting sites with Bitcoin so that you can enjoy the speed, security and convenience that the cryptocurrency allows. If you want to enjoy Bitcoin betting, sports bookmakers will also sometimes allow you to take part in their special promotions, and we will reveal how you can take advantage of these great offers too.
If you’ve been living under a rock under the past decade and don’t know what Bitcoin is, then here are a few reasons why Bitcoin betting could supercharge your sports bets.
Firstly Bitcoin is a cryptocurrency which means that it isn’t tied to other currencies like pounds, euros or dollars. This means that the digital currency offers a decentralised way to pay for goods that aren’t subject to lengthy checks from banks and institutions and can offer near instant processing times across national borders.
Secondly, you can use Bitcoin completely anonymously which means that you can often sign up to a Bitcoin betting site with little more than an email address. Finally, all Bitcoin transactions are held in a publicly distributed ledger called a blockchain so that there is a permanent record of how the cryptocurrency was used.
Bitcoin was created anonymously in 2009, and since then it has grown to become incredibly popular with an estimated figure of between 10 and 20 million people using the cryptocurrency worldwide. Whilst there is still plenty of scepticism about the price volatility of Bitcoin, its value recently crossed the $10,000 milestone.
As a result we have seen many brands like Starbucks and Subway making moves to allow customers to pay for goods with Bitcoin. But with plenty of opposition from governments and banking institutions, it seems that the cryptocurrency has yet to go truly mainstream.
The first thing to remember is that as Bitcoin is a decentralised digital currency, it requires no intermediary in the form of a bank or a financial institution, and as such, this should mean that you won’t have to suffer any processing fees and can also look forward to much faster transaction times.
Another reason why people enjoy betting with Bitcoin is the fact that it doesn’t make a record of your identity when you make a purchase. This means that you can quickly make a sports bet with Bitcoin without having to go through the lengthy procedure of setting up an account or verifying your personal details. So if you want to enjoy a sports bet that’s free, safe, fast and anonymous, then Bitcoin betting could be the way to go.
If you want to enjoy Bitcoin betting, sports bookmakers have yet to really embrace the trend and so you will suffer from a restricted selection of sports betting odds. All punters know that it’s only by shopping around that you are going to get the best odds to make the biggest profits, so using Bitcoin to bet with might cause your sports betting profits to suffer a little.
‘Can I use free Bitcoins for sports betting?’ is a question that we hear quite a lot, and as a rule, it doesn’t matter where you got your Bitcoins as long as you have control over your cryptocurrency wallet. But when it comes to sports betting promotions, then you might find that you might not be able to use Bitcoin to make a qualifying deposit. In addition to this, we should also mention the fact that Bitcoin’s price volatility can sometimes make it tricky to know exactly how much you are wagering with.
Just because a bookmaker features Bitcoin on their site doesn’t mean that you should necessarily rush to sign up to their services. This is because there are unfortunately a handful of disreputable betting sites out there who operate without a gambling license and could offer you little in the way of customer protection. So if you are looking for bookmakers accepting Bitcoin, be sure to check for the following features.
Like many other industries, the sports betting domain has proven to be strangely unwilling to join in the Bitcoin revolution. Despite this, there are a few betting sites with Bitcoin deposit and withdrawal methods that could give you a great start in your Bitcoin betting. So here’s a quick look at some of the best Bitcoin betting sites around at the moment.
This highly rated bookmaker recently shocked the sports betting world when they became the UK’s first bookie to accept Bitcoin. The UK Gambling Commission-licensed site prefer you to deposit Bitcoin into your Neteller betting and then make a payment from there to fund your sports betting. This means that you can make deposits at NetBet from between £10 and £5,000 at a time, and you can withdraw between £10 and £500 each day into your Bitcoin account, whilst the maximum Bitcoin withdrawal per month is set at £100,000. The Malta-based brand won’t implement any processing fees for moving your money around, although you should know that it could take between two and four working days for your winnings to show up in your Bitcoin account.
TopBet might be well known for their top coverage of US sports like basketball, baseball and American football, but the Government of Curacao-licensed site has also become a real hit as a result of their Bitcoin betting options. You will have to open up a Coinbase account in order to start betting with Bitcoin at TopBet, but once you do, you should then be free to enjoy a quick and easy way to fund your sports bets. Don’t forget that TopBet have also put on a special promotion for new customers that can give you a 100% boost on your first deposit. Terms and conditions apply, 18+.
This betting site might be better known for their esports betting options, but ArcaneBet have also put together a decent sportsbook that has plenty of odds for sports like football, basketball, tennis and ice hockey. Alongside the traditional payment methods like credit cards, debit cards and e-wallets, ArcaneBet also allow you to make deposits and withdrawals with Bitcoin. The Government of Curacao-licensed site won’t charge you a penny for making deposits or withdrawals, and you can withdraw from as little as £10 at a time, and even look forward to receiving the Bitcoins back in your account in just a few minutes. But you should know that you cannot use the cryptocurrency to make your qualifying deposit for the ArcaneBet welcome bonus.
If you are new to Bitcoin betting, then you should check out the following steps for using the cryptocurrency at a bookie’s site. This should hopefully reveal that betting with Bitcoin is just as simple and safe as using other traditional payment methods
Firstly, you will need to download a Bitcoin wallet to your preferred device. This will enable you to keep your cryptocurrency safe and secure, plus you can also use your wallet to buy Bitcoins from exchanges.
We’ve highlighted a few decent Bitcoin bookmakers, and they will all give you an easy way to use the cryptocurrency for your sports bets. Be sure to pick a bookie who features odds on your preferred sport, has a relevant online gambling license, and won’t add any fees to your transactions. It can also be good to check that they have adequate customer support facilities so that you can get answers to questions like ‘Can I use free Bitcoins for sports betting?’ and ‘How fast will my withdrawal be processed?’.
Some bookies allow you to make a Bitcoin bet by just registering an email address, whilst others will require you to go through a sign up procedure that demands that you provide your name, address and proof of age. Once you’ve set up your account, then you will need to fund your account by making a Bitcoin deposit. After you have done this, you are free to place your first Bitcoin bet.