Betting Sites that Accept Bitcoin
What was once unthinkable is now quite a common phenomenon – online betting not with real money but with digital currency, namely the Bitcoin. After the rise of cryptocurrencies on a global scale, more and more bookmakers include this deposit and withdrawal method in their Cashier section. It is also quite common to find crypto sportsbooks that only accept Bitcoin as a payment method along with other cryptocurrencies like Litecoin, Dogecoin, and more. Learn which the best betting sites with Bitcoin are from the table below.
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What is Bitcoin?
Bitcoin (₿) is a digital currency or cryptocurrency. As part of the blockchain, this fiat currency was developed in 2008. What raises a lot of questions to this day is who was the person or people behind this invention. For now, a pseudo name Satoshi Nakamoto is connected with the release of Bitcoin as a software ready to use online.
To be able to acquire Bitcoin, you need to mine the Internet for them. Mind you, a Bitcoin is very pricy, and it takes a lot of time to process computer power and dig up one. Plus, it has been estimated that by 2150 this currency will become obsolete. Below you may learn more interesting facts about this fiat currency.
- Invented in 2008, Bitcoin acquired its source code in 2009 and became available online.
- The first person to make a Bitcoin transaction was Hal Finney who downloaded the software and received 10 bitcoins from Satoshi Nakamoto.
- In the first years of its appearance, Bitcoin was mainly used on black markets.
- Initially, 1 Bitcoin was worth $0.30 while today the USD – BTC exchange rate is ₿1= $9,047.
- In 2013, the Bank of China banned all Bitcoin payments.
- In 2020, due to the Coronavirus pandemic, lots of people bought Bitcoin due to the currency’s sudden collapse.
Online Betting with Bitcoin
With so many online betting sites, it is hard to remain on top. Operators need to adapt to the changing times and bring new gambling experiences to the table. As a result, now it is common to come across crypto bookmakers or at least sites that have also included cryptocurrencies as payment options. Here are the major benefits of all Bitcoins Bookies.
When you play with BTC on online betting sites, you can secure your personal data. This has to do with the anonymity BitCoin provides to punters. If you register a Bitcoin account, you won’t need to provide your name or banking details to the bookmakers. You won’t have to upload copies of sensitive documents as well. This makes Bitcoin by far the safest payment method to use for online betting.
While using a crypto wallet, you won’t have to wait long for your Bitcoin transactions. This applies to both sportsbooks and crypto casinos that support BTC as a payment gateway. Deposits with these cryptocurrencies take seconds. Withdrawal processing times are also immediate.
Normally, bookies with Bitcoin will never charge a fee for BTC transactions. Also, the maximum deposit and withdrawal limits are quite high. This makes Bitcoin betting sites perfect for high rollers. At the same time, such an option is available in all profi bookmakers as part of a package for pro punters. Ultimately, no matter the sum you want to deposit, there will be no fees attached.
One of the best things about Bitcoin is the free bets, deposit promos, and VIP rewards you can claim with it. The simple fact that bonuses and promotions are also available in BTC is great. Plus, you can expect bigger rewards when playing in crypto sites, which is only natural considering the worth of Bitcoin.
How Do I Get a Bitcoin Wallet?
The best way to buy, sell and exchange BitCoins is to own a digital wallet. The same goes for online betting. You can use desktop wallets, but there are also mobile e-wallets. Finding the right product for you might be hard. Considering the popularity of these cryptocurrencies, players might feel overwhelmed with the sheer number of options. It is best to use sites like bitcoin.org which will direct you in finding the best BTC wallet for you. A special filter option, the Helper, will narrow down the choices for you. That way finding the bitcoin digital wallet for you will be a manageable task if you are new to the world of fiat currencies.
Ways to Deposit Using Bitcoin on Betting Sites
First of all, funding your betting account with Bitcoins is only possible if the operator supports this deposit method. At the same time, you will also need to have a digital wallet topped up with sufficient funds to meet the min-deposit requirement. You can either send money from your wallet to the Bitcoin address of the bookie. You can acquire the address by going to the Cashier section, after choosing BTC deposit.
From then on, you can now choose a sports market and place a pre-match or in-play bet. As far as the online casinos go, some of them offer Bitcoin Games in their libraries. These are usually slots that are available for BTC bets.
How to Withdraw Bitcoin from Online Bookmakers?
After claiming a bonus or winning from bets on crypto sites, you can request withdrawals. Here is how to do it.
- Make an online transaction and move the BitCoins from your betting account to your wallet.
- To do so, find the wallet address and fill it in the corresponding field in the withdrawal form of the bookie.
- Usually, you won’t need to pay any fees. Even if the bookmaker charges you, it will be with a very low commission.
- Once you copy the correct address of your BTC wallet, hit the Withdraw button and you are all set.
- Finally, you will need to cash out your Bitcoins out of your e-wallet. To do so, you can sell your BTC for EUR or any other currency.
Pros & Cons of Betting with Bitcoin
- PROS
- Very low or no fees for deposits and withdrawals with BitCoin
- Instant deposits and immediate withdrawals
- Great BTC bonuses for new and existing customers
- Anonymity in some crypto betting sites is full with this method
- CONS
- Bitcoin is a fiat currency that will sooner or later disappear
- The Crypto markets are known to fluctuate widely
- Once you make a mistake with the Bitcoin wallet address there’s no undoing it
Frequently Asked Questions
Can I play with Bitcoin on online casinos?
Yes, of course. There are crypto casino sites as well as Bitcoin games on most sites to do with iGaming.
Is Bitcoin a safe and legal payment method in sports betting sites?
It depends on the country. Some territories have banned cryptocurrencies altogether. Some examples are Nepal, Ecuador and Bolivia.
Is my anonymity guaranteed when paying with Bitcoin?
As long as you used Bitcoin as your registration method, then yes. Otherwise, the bookmaker will still require proof of your identity.
Are odds better on Bitcoin betting sites?
In most cases, odds are a bit better on Bitcoin bookie sites. Of course, there might be exceptions.
Is it Worth Betting with Bitcoin?
To sum up, we can say that Bitcoin is a currency that comes with great perks. Its most notable benefits are the high levels of volatility, the privacy it has got to offer, and the high-security quality. This is exactly the reason why we recommend Bitcoin betting to all punters. Even players without digital wallets can quickly acquire one and enjoy its many advantages when it comes to Bitcoin bookmakers.