In this article, we present a full list of Bitcoin bookmakers, so that you can find out the betting sites which accept this popular form of cryptocurrency as a payment. That means that when you open an online betting account, there will be the option to use Bitcoin to make a first deposit and it should be straightforward when it comes to transferring funds.
How to Place Sports Bets Using Bitcoin
The first port of call is to identify the betting sites that accept Bitcoin as a form of currency and hopefully they will also allow you to claim a welcome bonus when you register an account. Once you have established these points, then you should proceed and set up a betting account, entering a few basic details.
While Bitcoin is an anonymous currency and a way of transferring money without revealing your financial account details, you will still need to fill in personal information and it might also be the case that you need to verify your ID as part of the account opening process. However, this should be a fairly straightforward process.
Once you have opened an account, you will be given the opportunity to fund your betting account using one of the available payment methods. It’s a simple case of tapping on Cryptocurrency or Bitcoin from the options and then making sure that you have an e-wallet where you can keep your crypto and this will be used to transfer funds back and forth from your betting account.
Making a Bitcoin deposit works in the same way as depositing into your betting account using any of the other available payment methods, although there are never any fees for changing the currency with crypto, with the funds appearing instantly in your bookmaker account and you are able to start placing bets as soon as you have a funded balance.
Why Sports Betting Customers are Placing Bets With Bitcoin
There are discernible advantages to betting with Bitcoin providing that you understand how cryptocurrency works and how to obtain this in an e-wallet so that you can essentially transfer funds into your betting account. The prime appeal to many punters is the fact that you can remain virtually anonymous when funding your sports betting account.
The only data that the operator can see when you make a Bitcoin sports betting deposit is the details of the funds, meaning that no personal details or financial information is revealed and that means that your banking info can never be compromised, nor will any bookmaker details appear on bank statements.
Making a deposit with Bitcoin is also free of charge and the money is instantly credited to your betting account. The same applies when it comes to making withdrawals with the vast majority of cryptocurrency bookmakers and that means that you can fluidly transfer funds instantly between your e-wallet account and your sports betting account.
There is plenty of security that comes from betting with Bitcoin, with all cryptocurrencies designed to be encrypted and secured within their own blockchain. Miners work in tandem to make sure that every transaction is encrypted, with all transactions being hidden so that everything is anonymous with cryptos and that means there is no audit trail left behind.
The Pro’s and Cons of Sports Betting with Bitcoin
Some sports betting customers regard the introduction of cryptocurrency as a huge game-changer and one of the best innovations in the modern-day gaming industry. There are no elaborate checks when it comes to customers registering and wanting to use Bitcoin as currency, with certain bookmakers having huge sports betting limits which can obviously be a good or a bad thing.
With certain operators, there isn’t a Know Your Customer process and it’s a simple case of verifying your identity in order to get started, with punters being able to spend immediately at the bookmaker website once you have sent the Bitcoin, although there can sometimes be delays when withdrawing depending on the amount of funds that you have.
Indeed, some customers using Bitcoin report that you won’t be able to make a withdrawal until it has reached a certain number of confirmations on the blockchain which can take a few hours. For example, if you send 0.5 btc to a bookmaker site, it will hit your account within minutes.
However, if you manage to land a quick win with a bookie, it might be that a withdrawal is delayed until the deposit is confirmed by multiple nodes, although this is usually no more than one hour. The process is super-smooth compared to other withdrawal options which can require extra verification and customers have reported long delays when receiving their winnings.
How to Choose the Best Bitcoin Sports Betting Site
You firstly need to ensure that any bookmaker website will accept cryptocurrency from a deposit and withdrawal point-of-view. Ideally, they should also have a sports betting welcome bonus which involves getting a 100% deposit bonus in BTC rather than not allow customers to claim any kind of promotion when using this currency.
Ideally, you should also make sure that you can take advantage of further promotions as an existing customer, with many bookies offering bonuses when it comes to placing football accumulator bets, while there is also the chance to enjoy money back specials along with acca insurance should one leg of your multiple wager let you down.
Many Bitcoin betting sites also offer customers the chance to place a Bet Builder which means that you can place a tailored bet with lots of different selections relating to the same game, with some bookies allowing you to choose several options and there should also be the opportunity to enjoy In-Play betting and the chance to Cash Out on several markets.
How to Claim Bitcoin Sports Betting Bonuses
An increasing number of Bitcoin-friendly sports betting sites now have promotions available when you sign up and these welcome bonuses can be a fantastic way of getting started with the operator of your choice. The chance to claim a first deposit bonus means that you might get a 100% deposit bonus which involves putting 1 BTC into your account and getting a further 1 BTC as a bonus balance.
Some bookies will offer even bigger sports betting Bitcoin bonuses and this means the chance to get off to a winning start on your betting account, while you can also generate free casino spins as part of some welcome packages should you wish to try your luck at the online casino before deciding whether to use real funds.
There might also be wagering requirements before you can claim your Bitcoin free bets, with customers potentially needing to turn over their original deposit a certain number of times to trigger a free bet. It might also be the case that you need to bet at specific betting odds in order for each bet to count towards qualifying, with the terms and conditions outlining what is required.
There are some huge Bitcoin betting bonuses now available with the bookmakers, although it might be that the bonus is released in increments due to the number of loyalty points that are generated, so it does involve continuous bets needing to be placed in order to start releasing the slices of bonus which can be used for sports betting.