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  2. Bookmakers
  3. Bitcoin and Crypto Betting Sites

Betting Sites Accepting Bitcoin & Crypto

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Bitcoin payments have become really popular recently, and for good reason. The number of people who use cryptocurrencies grows daily, which is why some entrepreneurs decided to open Bitcoin betting sites. Many realized the perks of using such payment getaways in iGaming and wanted to offer people a new way of wagering.

Speaking of advantages, crypto betting has a lot of them. For starters, you can be relatively anonymous while playing. The transactions are usually fast, and fees are much lower than those of some of the more traditional payment gateways. Depending on the site, you may have access to multiple types of digital currencies, allowing you to pick the option you like.

It is no surprise that many of the betting sites only exist to take advantage of users. The good news is that this analysis will show you the best operators accepting digital currencies in the business. Besides revealing the best Bitcoin betting sites, the information will show you what to pay attention to.

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What to Look for in a Bitcoin Betting Site

You will likely come across a couple of Bitcoin sportsbooks, but not all of them will be worth it. Fortunately, users who know what to look for when choosing such a site can pick the optimal operator. Speaking of the devil, here’s what is important.

  • Licensing and Regulations – When reviewing Bitcoin betting sites, ensure they have a license and/or additional regulations. This ensures the operators adhere to strict rules.
  • Security Features – Alongside the regulations, Bitcoin operators should also have different security features. Starting with SSL encryption, you also have to look for two-factor authentication, third-party monitoring, and more.
  • Cryptocurrency Support – Bitcoin is the most popular cryptocurrency among online gamblers, but it’s not the only one. It’s advisable to choose an operator where you can use Ethereum, Dogecoin, Litecoin, and more.
  • Betting Markets and Odds – The best Bitcoin betting sites must have a wide range of sports. These companies also need to have multiple betting markets and good odds. 
  • User Experience – Besides checking the betting options, you should examine other key aspects. Mobile betting, customer support, and the site’s overall usability are just some of the more important things to look at.
  • Bonuses and Promotions – Clients interested in having even more fun should check the promo section of each operator. There should be at least one welcome bonus and multiple perks for existing clients. 
  • Payment Options and Speed – Having access to fast, reliable, and safe payment gateways can make a huge difference when playing. This applies to both depositing and withdrawing.

How to Get Started with Bitcoin Betting

To get started with Bitcoin betting, you have to:

  1. Set Up a Cryptocurrency Wallet – Setting up a cryptocurrency wallet requires you to open an account with a given brand. Don’t worry, the process is fast and should not take long.
  2. Buy Bitcoin – Some crypto wallets are a part of large exchanges, meaning you can buy Bitcoin directly from them. If that’s not available, you must go to these exchanges, buy Bitcoin, and send it to your crypto wallet.
  3. Choose a Betting Site – Using the information mentioned above, look at all Bitcoin betting sites and pick the one you like. We’ve ensured all operators will live up to your expectations.
  4. Deposit Funds – After registering with the betting site, the next step is to deposit funds. To do that, go to the payment page and choose the amount you wish to deposit. Simply follow the on-screen instructions to complete the transaction.
  5. Place Bets – The last step to using a Bitcoin betting site is to wager on what you like. Although there might be small differences, the process will require you to choose market(s), add them to the betslip, and enter the amount of your stake.

Advantages and Disadvantages of Bitcoin Bets

The online bets done with Bitcoin have their positive and negative sides, so let’s take a look at the main ones:

  • Bitcoin bookmakers Pros:
  • They protect your anonymity – Crypto transactions offer a secure way for gamblers to make transactions. They give clients additional safety because there’s no need to share any banking and/or card details.
  • Lower Transaction Fees – In most cases, digital currencies have low transaction fees. Sometimes, Bitcoin betting sites may not impose any fees.
  • You have all standard betting options at your disposal – The Bitcoin bookies have the same range of bonuses, features, and options as standard sports betting sites.
  • Faster withdrawals – Receiving what you’ve won has never been easier. Bitcoin and all other cryptocurrencies allow you to do that much faster than usual.
  • Global access – One of the biggest advantages of using cryptocurrency bookies is that you can access them anywhere. People using Bitcoin don’t need to worry about any specific payment method restrictions where they live.
  • Bitcoin bookmakers Cons:
  • They only accept Bitcoin payments or another cryptocurrency – Most of these sites will not support any regular payment gateways. This may be an issue for some users.
  • It is possible for those websites to disappear if the Bitcoin price collapses – One way of avoiding this is by using legitimate operators. Sadly, not all cryptocurrency gambling sites are like that.
  • Price volatility – Bitcoin, like all other digital currencies, is extremely volatile. Therefore, you may lose a lot more than you expected.
  • Regulatory concerns – Some Bitcoin betting sites use licenses from gambling legislators that let them operate in more countries. Therefore, it’s possible to use a crypto betting site that’s not licensed from the local authorities.

FAQ

Which are the best bitcoin betting websites for beginners?

The best Bitcoin betting websites for beginners are Stake and FortuneJack. Their interface is very intuitive, and the brands offer top-tier customer support, allowing beginners to get help when needed.

Do standard bookmakers accept Bitcoin payments?

Yes, there are online bookmakers that offer deposits and withdrawals using different methods, including Bitcoin.

Do I really stay anonymous if I bet with Bitcoin?

Yes, the blockchain technology on which cryptocurrencies are based ensures your anonymity when you pay through them.

How do I ensure the safety of my funds on a crypto betting site?

The safety of your funds while using a crypto betting site will depend on the operator itself. That’s why it is advisable to take your time and pick a legitimate iGaming operator.

Can I withdraw my winnings in fiat currency?

No, you will most likely not be able to withdraw your winnings in fiat currencies unless the Bitcoin betting sites provide regular payment solutions.

Are there any fees associated with Bitcoin betting?

No, there aren’t any specific fees associated with Bitcoin betting. Yet, it is possible to pay a small fee when depositing and/or withdrawing.

Are Bitcoin bookmakers legit and reliable?

Yes, every Bitcoin betting site can be as reliable as the standard online bookmakers. There are many legal betting sites based entirely on crypto payments. However, there are illegal Bitcoin betting sites, too, for which you should be careful. For some reason, online bookmakers that offer both crypto and fiat currency payments may be considered a little bit more reliable due to the fact that if there is a drop in the price of the cryptocurrencies, there probably won’t be many crypto bookmakers and crypto casinos left.