Crypto Betting
Cryptocurrencies have taken the world by storm, and for good reason. They offer a level of security and privacy that traditional currencies cannot match. Plus, they’re digital, so they’re perfect for the internet age.
Now, you can use cryptocurrencies to bet on your favorite sports teams. Crypto betting offers a new way to enjoy your favorite sport while also earning some extra money. Read on to learn more about crypto sports betting.
Crypto Sports Betting
Cryptocurrencies are all the rage right now. You can buy everything from coffee to cars with Bitcoin and Ethereum. So it’s no surprise that online sports betting is moving in that direction as well.
Sports betting has always been a popular pastime, but with cryptocurrencies, it’s easier than ever to place a bet and get paid out quickly and securely. Check out some of the best crypto sports betting sites to get started!
Best Crypto Betting Sites
Crypto sports betting sites generally offer the same advantages as other cryptocurrency-based platforms and online casinos.
To start with, they all accept Bitcoin and Ethereum in addition to more traditional currencies like USD and EUR. Many of them even allow you to gamble using U.S. dollars instead, so there is no need for any exchange rates or added fees!
Next, crypto sports betting sites are completely secure, especially when compared with traditional sportsbooks that use banks or credit cards for transactions. The blockchain technology used by most cryptocurrencies makes your funds impossible to hack into.
And since most crypto sportsbooks don’t keep your personal information either (they’re anonymous), there’s no chance for identity theft either! Also, crypto sportsbooks let you place bets with very low fees, usually 0.1% of the wager amount.
Traditional sportsbooks can charge as much as 10% of your winnings if you place a bet with anything other than U.S. dollars! Not only that, but some crypto sportsbooks let you deposit or withdraw using Bitcoin, removing intermediary bank fees entirely!
Finally, crypto sports betting sites are quick and easy to use on almost any device – including smartphones and tablets! Many traditional sportsbooks are not compatible with these devices at all, so this point alone is an advantage for cryptocurrency-based betting websites.
Check out some of the best crypto sports betting sites below:
Stake
The stake is one of the more user-friendly crypto sportsbooks available online. This betting site is easy to navigate, and you can place bets in just a few clicks. In addition, Stake offers a generous welcome bonus for new players – 100% up to 1 Bitcoin!
Cloudbet
Cloudbet is another excellent choice amongst cryptocurrency sports betting sites. They offer a wide variety of markets to bet on, as well as quick payouts and a high betting limit. They also have generous crypto betting bonuses – 100% up to 5 BTC!
Sportsbet
Sportsbet is one of the most well-known and trusted names in online sports betting. Their online casinos accept both cryptocurrency and traditional currencies, making them perfect for international players. They also offer a range of markets and bonuses that change on a regular basis.
BetOnline
BetOnline is a U.S.-friendly sportsbook that accepts Bitcoin, Ethereum, and Litecoin. They offer a wide variety of betting options on all the major sports, as well as casino games, politics, and entertainment. BetOnline also has a generous welcome bonus for new players – 100% up to $1,000! One of the best cryptocurrency betting sites!
Thunderpick
Thunderpick is a newer sports betting crypto site but is quickly gaining a reputation for being one of the best crypto sportsbooks around.
They offer quick withdrawals, a wide range of markets, and excellent customer service. Plus, they have an unbeatable 50% first deposit bonus – up to 2 BTC!
So now that you know about some of the best crypto sportsbooks available, what are you waiting for? Sign up today and experience the benefits of crypto betting for yourself!
Choosing Your Crypto Betting Sportsbook – What To Consider
If this is your first time in the crypto online betting sites world then you are probably wondering which crypto betting site to use. It’s important to not make a rush decision and consider the following when it comes to cryptocurrency sports betting:
Accepts Bitcoin, Ethereum or Litecoin
When choosing a cryptocurrency sportsbooks are the name of the game when it comes to value and functionality.
In short, you require a platform that allows your preferred digital currency deposits/withdrawals in order to play with certainty on your desired outcome.
Play with platforms that can transact in currencies that meet your pay/get-out expectations then maximize the limits offered within reason given expected outcomes.
Live Streaming Services
Live streaming requirements should be considered for obvious reasons, if, however, you’re willing to gamble without the aid of current sporting events impacting game dynamics then strike up simple bets which don’t require any form of live data feed.
More often than not, the best sportsbooks do offer live streaming services but make sure to research this in advance if it happens to be a key deciding factor for you.
User Interface
The user interface or ‘look and feel of any sportsbook is important, particularly if you’re looking to bet on a range of sporting events. You’ll want easy-to-use crypto betting platforms with quick navigation that won’t keep you waiting around – no one has time for that! Also, check out how customer-friendly the site is; do they offer 24/7 support? Is there a wide range of languages available?
Betting Markets
Whilst all good sportsbooks offer a healthy variety of betting markets, some are definitely better than others. So, do your research and make sure the sportsbook you’re looking to sign up with offers markets that appeal to you. From football to cricket, basketball to horse racing, and online casino games there’s something for everyone out there – you just need to find the right site!
Odds
Another important factor when it comes to choosing a sportsbook is the odds they offer. Make sure you compare the odds between a few different sites before settling on one, as this can make a big difference in terms of how much money you make (or lose!) from your bets.
Bonuses and Promotions
Almost all good sportsbooks offer some bonus or promotion for new players, but make sure to read the terms and conditions before signing up. Some of the best bonuses are offered for repeat custom, so if you’re already signed up with one sportsbook consider registering for similar ones!
Check out which sites offer sign-up bonuses (commonly referred to as ‘first deposit bonuses’), reloads, or free bets on a regular basis – some even offer early cash-outs on accumulators!
Licensing & Regulation
Lastly, when choosing your crypto sportsbooks make sure it’s licensed and regulated in an appropriate jurisdiction. Many regulation bodies exist around the world but you want to ensure that the site is compliant with any local laws where you live. They should also hold insurance cover against employees stealing funds or be regularly tested for ‘fair play.
Mobile Friendliness
This is a modern gambling world and so your chosen sportsbook should be mobile-friendly, after all, we’re betting on portable devices these days aren’t we? Naturally, checking whether or not a site is responsive and easy to navigate on smaller screens is an absolute must especially if intending to bet on the go.
Customer Service
We’ve all been there, unfortunately, something goes wrong when placing our bets and we need some help from live customer support. In the gambling industry, this is an important factor to consider as you’ll want a sportsbook that has reliable and responsive customer service. Ideally, they should have staff who are available 24/7 to help with any queries or problems that may arise.
Payment Speed and Reliability
One of the most important factors to consider when choosing a crypto sportsbook is the speed and reliability of its payment system. You’ll want a platform that processes payments quickly and without any errors so that you can get on with enjoying your betting experience.
So, there you have it – seven factors to consider when choosing a crypto sportsbook! By taking into account all of the above, you’re sure to find the perfect site for you. So what are you waiting for? Sign up today and start betting on your favorite sports!
Pros and Cons of using Crypto for Sports Betting
Cryptocurrencies are slowly but surely making their way into the world of online sports betting, and for good reason! Not only do they offer players a more secure and private way to bet, but they also come with a range of benefits that traditional fiat-based sportsbooks simply can’t match.
Pros
No withdrawal fees
Cryptocurrencies offer a great way to avoid withdrawal fees charged by traditional sportsbooks. Using cryptocurrencies means that you can essentially transfer your winnings directly into your pocket as there are minimal (if any) fees involved in sending and receiving funds from an online wallet.
The lack of transaction fees with cryptocurrencies is also a huge plus. As anyone who’s ever wagered on the World Cup or another major sporting event will know, most sportsbooks charge exorbitant fees when withdrawing winnings – anywhere from 5-10% is normal.
Wide range of international sportsbooks
With cryptocurrencies, you have access to a greater range of international sportsbooks which may not accept fiat currencies.
Increased anonymity
Compared to other payment methods like credit cards, cryptocurrencies offer increased anonymity when it comes to betting. This is because your account and transaction history aren’t linked to your personal information like name or address.
Most international online sportsbooks require that players have either of these payment methods to deposit or withdraw from their accounts, whereas crypto betting sites only require a cryptocurrency wallet address – simple!
Cons
So, now that you know some of the main advantages of using cryptocurrencies for sports betting, let’s take a look at why you may want to avoid doing so:
Technological Issues
One of the biggest problems with cryptocurrencies is that they’ve yet to gain widespread acceptance by the mainstream (i.e. people like your grandparents or parents!).
While this isn’t an issue if you’re familiar with using digital currencies and exchanges, many newcomers will find it difficult to comprehend how everything works – especially when it comes time to make a withdrawal!
The bottom line here is that most online sportsbooks that accept cryptocurrencies require you to set up cryptocurrency wallets before signing up and making deposits/withdrawals via these wallets rather than traditional methods such as credit cards and bank transfers.
However, because of the technical nature of these wallets and exchanges, many users often struggle to set up their accounts successfully.
Finally, some newcomers find it difficult to get started betting on a crypto sportsbook due to a lack of knowledge about navigating the exchange rate of different cryptocurrencies.
Volatility
Cryptocurrencies are known for their volatility – i.e. the amount of variation in price over a given period of time. For example, the value of 1 ETH may be $100 today but could be $200 tomorrow, and vice versa.
This can be a bit of a headache when it comes to betting as your winnings (or losses!) can literally double or halve in value overnight, making it difficult to keep track of how much you’re actually winning or losing.
Overall, while there are some risks associated with using cryptocurrencies for online betting, the advantages certainly outweigh them in our opinion. For those who are already familiar with digital currencies and are comfortable navigating exchanges and wallets, cryptocurrencies represent a great way to get around prohibitive withdrawal fees and access a greater range of international sportsbooks.
FAQs
What do I need to do to start betting with cryptocurrencies?
In order to use cryptocurrencies for online betting, you’ll first need to set up a digital wallet (more information on this can be found in our cryptocurrency wallets guide) and then register for an account with a crypto-friendly sportsbook. Note that not all sportsbooks accept cryptocurrencies, so be sure to do your research beforehand!
How volatile are cryptocurrencies?
Cryptocurrencies are known for their volatility – i.e. the amount of variation in price over a given period of time. For example, the value of 1 ETH may be $100 today but could be $200 tomorrow, and vice versa.
This can be a bit of a headache when it comes to betting as your winnings (or losses!) can literally double or halve in value overnight, making it difficult to keep track of how much you’re actually winning or losing.
Are cryptocurrencies traceable? Can I bet anonymously?
There are pros and cons when it comes to betting on cryptocurrencies – one major advantage is that they offer increased anonymity compared to other currencies like USD (US Dollars) but there’s also the possibility that your transactions can be traced if you don’t take the necessary precautions.
For example, if you use your credit card to deposit funds into an exchange or wallet, your purchase history will most likely be visible to whoever’s holding onto your account.
So, if you plan on using cryptocurrency for online gambling purposes, we recommend using a ‘mixer’ service such as BestMixer to randomize the transactions you make.
However, please note that using a mixer service might result in slightly longer processing times and/or fees as your transaction will likely be bundled with other transfers as part of a larger payment.
What is a mixers service?
A mixer will randomize the transactions you make – in other words, your incoming and outgoing funds will be mixed with those from various other users.
By doing this, it becomes much harder to trace your history thereby increasing your privacy when betting online…but there’s a trade-off in that mixers can often result in longer processing times and/or fees.
What types of cryptocurrencies can I bet with?
You can bet on practically any cryptocurrency nowadays, from Bitcoin to Ethereum – however, not all currencies are created equal!
For example, if you’re looking for fast deposits and withdrawals compared to fiat betting, we recommend betting on a currency that’s both widely accepted and has a large number of exchanges available for purchasing it (so you have more options if something goes wrong). As such, we suggest sticking to popular coins like BTC or ETH.
Last Thoughts
Crypto sports betting is a relatively new phenomenon that has been picking up in popularity in recent years. It’s not yet clear if the industry will last, but it seems to be attracting some big players who are hoping for long-term success.
The pros and cons of crypto sports betting sites may help you decide whether this type of gambling is right for you. We’ll leave it to your judgment when deciding how much money to invest here–but we do know one thing: there’s no shortage of choices when it comes to these types of wagers!
Let us know what you think about using cryptocurrencies as an alternative way to place bets on sporting events