For years, Bitcoin has been a global hot subject in the online betting market. We’re seeing an increase in the number of Bitcoin betting sites, which is fantastic news for cryptocurrency fans!
In locations where access to traditional payment methods is limited, several top-tier bookies accept Bitcoin. That is to say, Bitcoin is being used in places where FIAT cash is not. Check out our hand-picked list of the finest Bitcoin betting sites in each category below and get started!
Best Bitcoin Betting Websites
While we recommend every bookmaker on the list, we understand that some punters want to be steered in the proper way. We’ve divided everything down into the most common categories so you don’t have to do all of the comparing and contrasting yourself. Simply select the feature that is most essential to you and click “Claim” to sign up and receive your bonus!
Making Bitcoin Betting Deposits
You must be wondering what the specific process of utilizing Bitcoin to deposit is now that you are well informed of the benefits and drawbacks of using Bitcoin for daily made bets at betting sites. Fortunately for you, we’ve put up a step-by-step guide that will walk you through the process of successfully depositing with Bitcoin:
How to Use Bitcoin Betting Sites to Make a Deposit
- Log into your account at the betting site where you want to play.
- Then, after entering your user name and password, click Login.
- Locate and click the ‘Deposit’ Button.
- Select Bitcoin from the list of acceptable payment options, as well as your country.
- A second window appears once you select the Bitcoin deposit option. Put the amount you want to put here.
- The following window will ask for some basic personal information.
After choosing ‘Continue,’ you’ll be sent to a new screen where you can link your Bitcoin wallet with the created QR code to finish the deposit.
Withdraw your Winnings in Bitcoin
Almost every Bitcoin sportsbook now allows players to withdraw their winnings to their Bitcoin wallet. This is fantastic news for punters who don’t want to waste money on conversion costs because there’s no reason to convert your Bitcoin betting winnings into FIAT cash unless you wish to.
What’s even great is that Bitcoin betting withdrawals are really simple. Simply follow the procedures outlined in the guide above, but instead of going to the “Deposit” area of the betting site, go to the “Withdraw” section. The rest of the package is practically identical.
NOTE: Some bookies will let you have numerous “wallets” in your account, one for each currency. You will almost certainly be charged a conversion fee if you attempt to withdraw winnings in a currency other than Bitcoin. Withdrawing funds from a Bitcoin wallet does not entail the same fees.
How to Create a Bitcoin Wallet
The complete process of purchasing or mining Bitcoins is far too complex to be covered in this study. About the Internet, there is a large database of publications on how to obtain Bitcoin. Instead, we’ll concentrate on the actions involved in using Bitcoin betting sites via a wallet.
Creating a Wallet
- Go to https://wallet.bitcoin.com/ and select ‘Get a Free Wallet’ from the drop-down menu.
- Next, based on the platform and operating system you’ll be utilising, select the best solution for your needs.
- The download of the Install Pack will begin after you click on the preferred Operating System.
- After that, install the software on your computer, and your dedicated Bitcoin wallet will be ready to use at betting sites.
Payment Limits, Fees, and Times for Bitcoin
Bitcoin deposits and withdrawals are the future of commerce since they are supported by the groundbreaking Blockchain system. It’s only a matter of time before this strategy gains in popularity and becomes something that punters employ on a daily basis.
Bitcoin’s timing, limits, and fees are relatively competitive when compared to alternative deposit options. Below are some real-life instances of betting sites that accept this kind of payment.
Deposits on the Go
The Bitcoin wallet has a specific app for mobile users, as you may have seen. This implies that if you perform most of your sports betting on a mobile device, depositing Bitcoin is a breeze.
Because both Bitcoin and current betting sites recognize that mobile clients are the future, a dedicated system ensures simplicity of access and quickness in Bitcoin transactions.
Advantages and Disadvantages of Bitcoin Betting
If you’re on the fence about whether Bitcoin betting is right for you, we’ve compiled a list of all the major benefits and drawbacks to help you decide. If Bitcoin betting isn’t for you, we also have some good recommended options!
Advantages
You may have noticed certain advantages to using Bitcoin as a payment mechanism for betting sites. This section, on the other hand, proposes to delve deeper into the subject and present only the benefits that matter.
These benefits should gradually help Bitcoin overcome betting sites’ seeming apprehension and persuade the broader industry that cryptocurrency implementation can result in considerable improvements. The advantages Bitcoin brings to the table in its partnership with betting sites will be the subject of the next sections.
Anonymity
Betting fans who utilize Bitcoin as a deposit method have the added benefit of not having to reveal their personal information. Furthermore, because the blockchain provides a transparent transaction environment, no personal information is required. It’s useful for gamblers who want to keep their transactions private, and it’s a feature that could help Bitcoin become even more popular than it is now.
Exceptional Safety
Traditional deposit methods, for example, have their own security protocols and can provide a high level of security for users. However, it pales in comparison to the protection and safety provided by the blockchain. It’s unhackable and transparent at the same time, thanks to simultaneous approval from several computers linked in the blockchain.
From a betting standpoint, this is a fantastic feature that Bitcoin can provide. You can enjoy your bets with no worries thanks to all of the security protections provided by Bitcoin as well as those provided by the betting sites.
Deposit Limits that are Excessively High
Even though typical payment methods may limit the amount you can deposit, things are different with Bitcoin. Of course, there are limits; but, because of the incredible conversion rate, Bitcoin deposits will allow you to deposit significantly more.
Betting companies that accept Bitcoin as a deposit method already offer greater deposit limits, but using cryptocurrency gives you an additional advantage.
Profits Increased
So, let’s assume you had a fantastic Bitcoin betting session and won three times your initial investment. That’s an accomplishment in and of itself, but what if you can enhance your profit even more?
Because of the volatility in Bitcoin, you can keep your gains for a longer period of time before converting them to traditional cash, allowing you to increase your winnings even more. It’s like mixing sports betting and iForex and coming out on top.
Disadvantages
So, you’ve had a look at the benefits that Bitcoin provides to the betting world. However, there are drawbacks to everything in life, and you deserve to be aware of them. Bitcoin, like everything else that proposes a new way, has flaws. It’s not a tremendous deal, given that the disadvantages stem primarily from the fact that Bitcoin is still a relatively new player in the betting business.
Not Enough Popularity
The lack of popularity is one of the most significant drawbacks that bitcoin investors face. This restricts the options available to a gambler who wants to deposit using Bitcoin, which can be annoying at times. Despite the fact that it is a secure deposit method, the reasons why most betting sites do not accept it remain a mystery.
The fact that Bitcoin isn’t commonly accepted by betting sites has a detrimental side effect. Betting sites that take Bitcoin can impose unfair conditions in order to profit from the fact that they provide this service.
Fees for converting Bitcoin to US Dollars
Another disadvantage of utilizing Bitcoin for sports betting is the crucial moment when it must be converted into ordinary cash. The majority of platforms that allow punters to engage in this activity charge fees that are not always minimal.
Users may face certain obstacles because utilizing Bitcoin for day-to-day activities is still considered a niche. One ray of optimism comes from the fact that more and more betting sites, as well as exchange platforms, are surfacing, implying that costs will come down as a result of competition.
There is no Bitcoin ATMs.
Let’s pretend you don’t want to convert your Bitcoins into standard currency right away and instead want to maintain them as a reserve. This means you’ll have more options for converting Bitcoin into widely accepted currencies. In addition, several Bitcoin ATMs are being set up to help assist this effort. Bitcoin ATMs, on the other hand, are scarce in comparison to standard ATMs. We also recommend you to check other betting payment methods such as Paysafecard, Skrill, etc.
