Bitcoin Betting Sites 2023
Are you looking for the best Bitcoin betting website? Bitcoin is the premier cryptocurrency supported in virtually all online casinos that use crypto. Its secure, decentralized nature and instant transactions make it an easy choice for players looking to maintain anonymity. Bitcoin betting also offers punters a chance to win crypto-playing casino games. In the next sections, we examine all the crucial aspects that encapsulate Bitcoin betting and sports betting. Our review focuses on the benefits and drawbacks of Bitcoin online betting, how to choose bitcoin casinos and sportsbooks, security, alternative payments and more. By the end of the article, you will know all about BTC betting and how to distinguish reputable casinos from others. We also have a list of the best Bitcoin sportsbooks for crypto users. Bitcoin is the leading cryptocurrency and there are many Bitcoin betting sites for sports bettors. However, not all are desirable, so it is vital to examine offers before playing Bitcoin games for real money.
Best Bitcoin Sportsbooks for Cryptocurrency Users
What is Bitcoin Sports Betting?
As aforementioned, Bitcoin (BTC) is a cryptocurrency like Ethereum (ETH), Litecoin (LTC), Dogecoin, Monero and other Altcoins. As a digital currency, Bitcoin is available for all kinds of online purchases and the most prevalent crypto used in online casinos. On the other hand, sports betting is all about betting on professional and virtual sports games, including football, volleyball, hockey, rugby, tennis, golf, boxing, cricket and more. Bitcoin sports betting involves betting on sports using crypto instead of regular FIAT currencies or casino credits. Essentially, players can deposit directly from their Bitcoin wallet, play games and withdraw their winnings in Bitcoins. Note that most sportsbooks accept bitcoin as a payment method and convert crypto deposits to FIAT. Once you win, you can cash out to your wallet.
Why Use Bitcoin for Betting on Sports?
If you use Bitcoins regularly, there’s no reason to sign up for another banking method. Many online sportsbooks allow Bitcoin deposits and withdrawals, so you can continue using your preferred banking method. However, Bitcoin has many other inherent benefits that draw sports punters. Here are some of the reasons why you might consider using Bitcoins for betting on sports:
How to choose a BTC Sportsbook
Although BTC sportsbooks have many advantages, not all are worth joining. It is still vital to review all offers and determine reputable online casinos before you start betting. Some of the important things to consider when looking for a sportsbook include:
How We Review Bitcoin Betting Sites
Our rating features the best Bitcoin betting website, according to our experts. However, choosing one website as the best for all players isn’t possible, considering the disparate preferences. We focus on the crucial aspects that tie up the betting experience you’ll encounter playing on the Bitcoin site. Our review prioritizes the following:
How To Bet With Bitcoin
Playing casino games using Bitcoin should be an effortless feat you can achieve with these five steps:
Get a BTC Wallet
You need Bitcoin to play games and your BTC needs secure storage. A BTC wallet serves the purpose of traditional wallets, holding your funds until you are ready to use them. There are many Bitcoin wallets available for casino players, including digital software wallets and tangible hardware. Make sure you find a reliable wallet with low fees and top-notch security. You’ll need to sign up for a new account if you are using software wallets.
Once you have a wallet, you’ll need to acquire Bitcoin and store it in your wallet. There are many ways to acquire Bitcoin, including buying BTC using real money (FIAT), exchanging other cryptocurrencies, and mining. Exchanges offer the easiest way to acquire bitcoin, with sites like CoinPayments offering BTC for as low as $20. Mining is the hardest way and involves solving complex problems using high-end computers. It also requires in-depth knowledge of how Bitcoin works and a lot of time. Nonetheless, it offers the best reward.
Join a BTC Casino
Now that you have Bitcoin in your wallet, you can send funds to the casino to start playing. However, you first need to find a trusted Bitcoin casino with many games. Refer above for choosing a Bitcoin casino to know what to look for before signing up for an account. Make sure the casino accepts BTC deposits/withdrawals and offers real money games certified for fair play. You can click on the logo next to any of the sites in our ranking as they have undergone the same review and emerged as some of the best offers currently available for online punters.
Once you have a gaming account and BTC in your crypto wallet, the next step is to fund your casino account. Many casinos allow players to deposit directly from the betting site. Simply navigate to the cashier section, find deposits and select Bitcoin as your preferred payment method. Next, follow the prompts to finish your deposit. Alternatively, you can fund your casino account from your wallet. This involves transferring from your wallet to the casino account wallet. We recommend the first method, which is more convenient and eliminates the chance of sending funds to the wrong account.
If you are interested in the welcome bonus and other promos, make sure you read all terms and conditions before depositing. Bonuses tend to feature unique minimum deposits and requirements. Once you have money in your casino account, navigate to the game lobby, launch your favorite title and proceed to play.
Crypto Sportsbook Bonuses & Promotions
As aforesaid, bonuses are essential components of online casinos and virtually all bitcoin gambling sites feature promotions for their players. There are many Bitcoin sportsbook promotions available for those looking to play using BTC. Here’s a quick overview of the most popular:
Pros and Cons of Bitcoin Betting vs. Traditional Betting
Any Bitcoin betting site comes with the inherent benefits of using BTC as a banking method. However, betting using Bitcoin also has drawbacks. Here are the pros and cons compared to traditional banking methods:
- Faster payouts, usually within 24 hours
- Secure, decentralized payments
- Private and anonymous deposits/withdrawals
- Accommodates bigger banking limits
- Huge bonuses and Bitcoin faucets
- The value of Bitcoin may increase
- Not all online casinos allow Bitcoin deposits and withdrawals
- The value of Bitcoin may go down by the time you cash out
- Most sites convert the Bitcoin to FIAT amount
Identity Protection and Taxes with Bitcoin Betting
ID and player data protection are key areas of concern when playing online casino games. Although most casinos use advanced SSL certificates and virus scans, hackers and cyber threats are still worrying. It is important to join casinos featuring the latest ID protection and security algorithms. Bitcoin is a decentralized payment method suitable for players looking for privacy and anonymity. Still, you should choose a licensed casino with certified fair games. Some regions also expect players to report gambling winnings and remit their annual taxes. Make sure you comply with the tax requirements in your country. In most cases, the BTC will be converted to the FIAT equivalent pending tax calculation. Some regions require casino operators to integrate the tax in the bet slip, so players will receive their winnings after the tax is subtracted.
Withdrawing Winnings at Bitcoin Betting Sites
Cashing out whatever you have won playing games on Bitcoin casinos is an effortless task. Here are the steps:
Once you receive the winning notification, log into your casino account and navigate to the cashier section to check your balance.
Next, click on withdrawals from the cashier section then Bitcoin to ensure the money is sent to your BTC wallet. Most casinos convert the FIAT winning to BTC automatically so that you can see your bankroll balance in FIAT, BTC, or any supported crypto. If you are having trouble withdrawing from a Bitcoin site, contact the customer service team to address the issue or find helpful information from the cashier section or FAQs. Each casino has minimum and maximum withdrawal limits and policies, so make sure you follow the right process.
Bitcoin Payment Times, Fees and Limits
Bitcoin payments are some of the fastest you’ll encounter online, only second to Litecoin and some eWallets. Withdrawals are processed within 60 minutes max. However, casinos may have unique pending time, starting from 24 to 72 hours. Most sites charge nothing for withdrawals, but you’ll encounter varying fees depending on the exchange and wallet. For instance, Coinbase imposes a 1% fee to convert and withdraw BTC to FIAT. Sending money to your exchange may also be subject to fees from the bank or financial institution you are using.
Alternatives to Bitcoin for Betting
There are many traditional and contemporary banking methods online sports betting sites and casinos provide for players. Each casino has a unique set of payment methods, so it is vital to check the cashier section to determine existing options. Casino payments can be grouped into the following:
We have come to the end of our Bitcoin betting and hope we covered enough information to help you get the hang of how BTC casinos operate. Overall, Bitcoin is the most reliable cryptocurrency and supported in all sites offering crypto payments. Players can deposit/withdraw using Bitcoin, taking advantage of the secure, fast payments. Nonetheless, you should focus on finding trusted bitcoin casinos that can guarantee high-quality gambling services. License credibility, certified fair RNGs, a wide variety of games and reliable customer service are still very important, so make sure you choose a reputable online casino.