Bitcoin Sports betting at an Online Sportsbook

Bitcoin Sports Betting

Bitcoin is very secure and helps to safeguard your identity. Sportsbooks reward Bitcoin deposits with bigger bonuses and faster transactions. We monitor 54% of the sportsbooks that are now accepting Bitcoin.

  1. 22Bet
  2. PowerPlay
  3. Everygame

You are already ahead of the curve if you are using Bitcoin to place bets at your sportsbook. If you’re not already aware of it, we’d like to bring to your notice the fact that the use of Bitcoin as a method for making deposits and withdrawals at online sportsbooks is the way of the future. Bitcoin isn’t the first important breakthrough in retail financial technology that sportsbooks have adopted, but it won’t stop them from being among the first to do so in the future.

We outline all of the key benefits of using Bitcoin, educate you how to deposit and withdraw Bitcoin from your sportsbook, and provide you insider insights on how to properly harness the benefits of Bitcoin at your sportsbook.

DontBetTheFarm Presents: An Introduction to Bitcoin

In its most basic form, bitcoin is a form of virtual currency, or what many people refer to as “the internet of money.” Once you are aware with a few minor details, using Bitcoin is simply as straightforward as using platforms such as Neteller or PayPal once you have made the necessary preparations.

Because Bitcoin is based on blockchain technology, it is impossible for any one individual, organization, or institution to exert control over it. This is one reason why it is such a good match for online sportsbooks. There is absolutely no engagement on the part of banks in any transactions involving bitcoin.

(5) The following are some of the benefits of using bitcoin for sports betting:

By paying close attention to even the most minute of details, successful sports bettors are able to get a “edge” over the odds offered by the sportsbook. Professional gamblers, sometimes known as “sharps,” search for the best lines, split up their bets with systematic accuracy, and employ complicated mathematical prediction models. In fact, they even take into account contextual factors like the wind speed and the relative humidity.

If you are interested in gaining an edge similar to that of those sharps, you may do it simply by utilizing Bitcoin. You will have complete anonymity, the highest possible level of security, access to enormous bonuses, financial freedom, and faster processing times when you play on betting sites that accept Bitcoin. The fees associated with Bitcoin sports betting are far cheaper than those associated with traditional banking methods. The following are the top five benefits of utilizing Bitcoin for betting, according to MyTopSportsbooks:

1. Bitcoin deposits are eligible for larger bonuses at online sportsbooks

Betting on sports using Bitcoin has a number of benefits, not only for players but also for bookmakers and sportsbooks. (Sportsbooks don’t want to have to deal with third-party institutions like banks and the costs that come along with them any more than you do.) The same is true of reduced juice sportsbooks; they provide more alluring bonuses for Bitcoin deposits than they do for deposits made with traditional cash. This is done in an effort to encourage the adoption of Bitcoin. In many instances, Bitcoin bonuses are up to two times more than the average bonus. You just need to sign up for an account with a Bitcoin sportsbook, and then you’ll be ready to make a deposit.

Bonuses on the Initial Deposit

Are you looking for a large bonus on your initial deposit? Bitcoin ought to be the way of deposit that you go with.

When you make a deposit with traditional methods (such as a credit card, a bank transfer, or PayPal, for example), your sportsbook will most likely limit the maximum amount of your bonus to between $25 and $500, depending on the site, and they will typically only match a portion of your deposit. This is a general rule. If you choose to make your deposit using Bitcoin, on the other hand, the upper limit will often be larger (it may go as high as $1,000), and your sportsbook will be more likely to match 100 percent of your deposit.

Bitcoin Deposit Matching Bonuses

Many online sportsbooks, in addition to offering significant welcome bonuses for first-time depositors, also provide reload bonuses that are particular to Bitcoin. According to the findings of our investigation, Bitcoin reload bonuses came with a substantially greater match-percentage when compared to their traditional equivalents. Additionally, unlike traditional deposit methods, Bitcoin reload bonuses are often offered whenever you make a deposit, rather than only occasionally or periodically. This is in contrast to the situation with traditional deposit methods.

The superiority of Bitcoin reload bonuses can be seen across the board.

2. You Will Never Have a Problem With Your Bitcoin Deposits Being Refused

If you have been placing bets on betting events for any length of time, it is quite possible that a transaction of some sort, whether it be a deposit or a withdrawal, has been declined by a third party. Unfortunately, a third party that monitors your finances has the legal authority to place limits on the kind of transactions you can do with your money. If you hand over your money to a middleman, they often have the legal authority to prevent any further financial transactions between you and an online bookmaker.

Because of the murky legal footing that sportsbooks operate on, credit card companies would rather avoid doing business with them. This is especially true if you are located in the United States. There are a lot of sportsbooks, and most of them store their customers’ money in a variety of banks all over the world. Their main operations centers are located overseas. When it comes to details of this type, any conventional financial institution would raise an eyebrow; here is where the decentralized structure of Bitcoin may be of great use.

As was said before, no one party can control the transactions that take place using bitcoin. As a direct result of this, Bitcoin transactions do not require the participation of any third party. Only the mathematical proofs that are contained in the blockchain can decide whether or not a Bitcoin transaction, whether it a buy, a withdrawal, or a deposit, will be approved.

When doing a transaction with bitcoin, arbitrary limits imposed by a bank or credit card provider will never be a concern. You may acquire, keep, and spend Bitcoin in any way you see fit, all while maintaining your anonymity. This is a perk that you won’t receive with standard payment methods, so take advantage of it while you can.

3. The Security of Bitcoin Is Second to None

The question “Is Bitcoin a gamble?” is asked frequently by readers, and our response is that we always make it clear that it was designed with financial security in mind, and that it has built-in protections against identity theft, fraud, and any harmful third-party infringement. When you acquire Bitcoin via an exchange, this will be the only time in your life that you will ever be required to reveal any aspect of your identify. When you pay Bitcoin to your sportsbook, the sportsbook does not obtain any of your personal financial information in any manner.

Bitcoin is the payment option for you to use if you’ve ever felt uneasy about giving a sportsbook with personal information (such as a copy of your utility bill, a driver’s license, or anything similar), since this may compromise your anonymity. When you utilize Bitcoin, online sportsbooks will never ask you to validate your personal information to match your bank account; all you need is a one-of-a-kind Bitcoin address and a private key. No more inconveniencing yourself by calling your bank, credit card provider, or sportsbook’s customer care; no more of these calls! When using Bitcoin, you simply need to provide your sportsbook with randomly generated bits of a cryptographic protocol.

Naturally, each and every one of the online sportsbooks that we propose is of the greatest possible caliber. We take great satisfaction in the fact that we will only direct you to sportsbooks that can be relied upon for security, productivity, and an overall user experience that is smooth. In spite of this, it is hard to tell what is going on behind the scenes at a sportsbook because things frequently shift in a very short amount of time.

In the past, we have been forced to include sportsbooks on our blacklist because they were unable to uphold their reputation for providing reliable customer support and remaining financially secure. Criminals with a financial agenda typically target any internet venue where money is exchanged, including online sportsbooks. If it is obtained by malicious parties, sensitive financial data such as credit card numbers and bank account details might be used for illegal purposes.

When you use Bitcoin, you won’t have to worry about transferring sensitive information over the internet, and it will be difficult for hackers to manipulate a Bitcoin transaction.

Bitcoin is the best option for you to use as currency if you are really worried about keeping your financial transactions private.

4. The fees associated with Bitcoin transactions are lower

Are you fed up with the costs associated with traditional banking and credit cards? When working with a third party middleman, you will inevitably be subjected to a variety of hidden expenses, including but not limited to: handling fees, currency conversion fees, transfer fees, escrow fees, and a whole host of others. Because Bitcoin is a decentralized digital currency, users do not have to shell out money for a third party to pay an eye on their transactions. Instead, you will only be required to pay one fee, which is referred to as the miner’s fee.

What does it mean for a miner to pay a fee? As was previously mentioned, the “blockchain” verifies transactions on a public ledger. The nodes that make up the network are responsible for verifying and authenticating Bitcoin as it moves across the network. This requires a significant amount of computer power, and the people who are responsible for ensuring the continued operation of the Bitcoin network are referred to as “miners.” A very small fraction of the Bitcoin that is generated from each transaction is distributed to the miners as a form of economic incentive. The term “miner’s fee” refers to this amount.

It is essential to note in mind that no miners obtain any portion of your personal information, and the blockchain automatically distributes the mining fee to a large number of parties that are not connected in any way.

The miner’s fee is always the sender’s responsibility, and the sender normally has the ability to decide how much it will be. (The miner’s fee determines how quickly the transaction will be completed; the larger it is, the faster it will be processed.) Therefore, in the event that you decide to transmit Bitcoin to your sportsbook, you will be responsible for covering the cost of this minuscule fee. When you withdraw a withdrawal of your winnings from sports betting, the fee will be covered by the sportsbook. These fees are extremely low and far lower than the ones associated with traditional currencies.

Bitcoin’s Minimums Are Lower, While Its Maximums Are Higher

Because Bitcoin does not incur the fees associated with traditional banking methods and does not involve a third party, online sportsbooks have greater leeway in determining the minimum and maximum amounts that customers may deposit and withdraw. When bettors make deposits using Bitcoin, the sportsbook in question does not have to pay any fees, regardless of the size of the deposit.

According to the findings of our investigation, the minimum required to make a deposit using Bitcoin is on average fifty percent lower. In a similar vein, we discovered that the maximum deposits that may be made using Bitcoin are, on average, one hundred percent greater.

5. The Transactions Using Bitcoin Are Much Swifter

Utilizing Bitcoin as your payment method at your sportsbook ensures the quickest possible payments, regardless of whether you are withdrawing a deposit or a withdrawal.

When you request a check or a bank transfer, there are a lot of different things that may go wrong and delay down the procedure. The process of passing via a bank may usually take longer than two weeks when you include in the wait times at your sportsbook and the additional examination performed by the security department at your bank.

Don’t feel like hanging around? Make use of Bitcoin. We discovered that the typical confirmation time for a Bitcoin deposit was between four and six minutes, and the majority of online sportsbooks would allow you to start betting before your transaction is permanently recorded on the blockchain.

During our tests, the maximum amount of time required to wait for a sportsbook to confirm a deposit was forty minutes. Bear in mind that this is still a far more time-efficient option than going through a bank.

Bitcoin withdrawals are not as quick as Bitcoin deposits, but they are still quite quick when compared to the time it takes to use standard banking methods. Our test runs took between 1 to 48 hours. The most typical amount of time for withdrawal was four hours, which is considered to be quite quick by any measure. Withdrawing funds using standard currency often takes more than 300 hours to complete from beginning to end.

Bitcoin Sportsbooks That Share Common Characteristics

Pay close attention to the specifics of the terms and conditions before selecting a sportsbook from our compiled list of trustworthy Bitcoin gambling sites. Because of the unique qualities that each site possesses, it is possible that one of them will be more suited to your requirements than the others. However, when it comes to Bitcoin, all of these cryptocurrencies share significant characteristics, some of which are listed below.

Conversion of Bitcoin to US Dollars Available at Your Sportsbook

Each of the Bitcoin betting sites that we propose above does a quick conversion of Bitcoin to USD upon receipt of a deposit. In addition to that, when you request a withdrawal, they will convert your USD into Bitcoin for you. Bitcoin sportsbooks that are trustworthy will do this for your protection from Bitcoin’s highly erratic price movement.

Your Financial Obligation and the “Miner’s Fees”

When we say that there are no costs associated with Bitcoin withdrawals and deposits, this does not include “miner’s fees.” The “sender” is always the one who is responsible for paying the “miner’s fees,” as we outline in our comprehensive guide to Bitcoin. Therefore, they are your duty while making deposits, but the sportsbook is responsible for them when making withdrawals. If you still have questions after reading this, you can find additional information about “miner’s fees” here.

Will You Be Subject to betting Restrictions When Playing at Trustworthy Bitcoin Sportsbooks?

Not the ones that come highly recommended. There are some trustworthy Bitcoin sportsbooks that could limit your betting options, but none of the ones that made it onto our list of the top five don’t do so. Every Bitcoin sportsbook that we recommend will make it possible for consumers to freely gamble on the National Football League (NFL), Major League Baseball (MLB), National Hockey League (NHL), College Basketball and College Football (NCAA), even on live betting markets, just like any other bettor.

The Step-by-Step Guide to Using Bitcoin at Sportsbooks

When using Bitcoin, withdrawing deposits and withdrawals might give the impression of being difficult at times. We’ve got your back as we walk you through all of the intricacies and complexities of the Bitcoin sports betting process from start to finish.

It is essential to take note that when you make a deposit, every single one of the top 5 sportsbooks that we suggest will automatically convert your Bitcoin into USD. As a direct consequence of this, you will place all of your bets using US Dollars. When you make the decision to withdraw your winnings, they will first be translated from USD to Bitcoin, and then they will be delivered to the Bitcoin wallet you have specified. Bettors are shielded from Bitcoin’s wildly unpredictable price activity as a result of this.

You can use Bitcoin to bet bets on the Super Bowl

You may use Bitcoin to bet bets on the Super Bowl at any of the sportsbooks that accept the cryptocurrency. Even while you may start betting with Bitcoin whenever you want, the most exciting moment to do so is during the Super Bowl. Because of this, you have the opportunity to more than quadruple your bonuses. The welcome and reload bonuses for Bitcoin deposits are frequently boosted, and many online sportsbooks take advantage of the betting frenzy that occurs around the Super Bowl by giving attractive promotions.

In addition, there is a huge variety of bets to choose from during the Super Bowl. It is unlike any other point in history. Prop bets can be found just about anywhere, moneylines are doing extremely well, and over/unders have been chosen with great care. If you want to get in on the action quickly and ensure that you have enough money to place as many bets as you like during the big game, making a Super Bowl bet using bitcoin is a terrific way to do both.

What are the Steps Necessary to Make a Bitcoin Deposit at a Sportsbook?

  • Login information must be entered here.
  • Navigate to the “cashier” or “deposit” area and click there.
  • If you want to make a deposit, choose Bitcoin as your method.
  • Enter the amount of Bitcoin that you would want to deposit, converted to US Dollars.
  • Ensure that you search thoroughly for any Bitcoin bonus codes. If you are requested to input a bonus code, be sure that you enter it accurately.
  • Once you have determined the amount that you wish to deposit, you will need to click the “deposit” button.
  • A screen will appear with a Bitcoin address, a QR code that may be scanned, the current Bitcoin exchange rate, a transaction ID that is unique to this transaction, and the amount that you have chosen to deposit (converted to Bitcoin).
  • Scan the QR code with your smartphone or manually copy and paste the address into your Bitcoin wallet.
  • Enter the amount of US Dollars or Bitcoin that you wish to deposit (depending on which payment option your wallet supports). Make sure that this quantity is the same as what is displayed on the screen that corresponds to it at the sportsbook you are using.
  • The client for your wallet will provide you with the choice to either transmit a large or low miner’s fee. We advise transferring the larger amount because it will enable your cash to be sent to your sportsbook more quickly.
  • The value of one bitcoin may fluctuate between the moment you submit a deposit and the time your transaction is confirmed, even if you don’t transfer any further Bitcoins. If the price falls, the total amount of money you have available to bet will see a slight decrease as a result. In the event that the price goes up, you will have a greater amount of credit available.
  • As was said earlier, almost every online sportsbook that we evaluate will change your Bitcoin into USD upon making a deposit. This is something that we look for when evaluating online sportsbooks. As a direct consequence of this, all of your further bets will be put in US Dollars. You will, however, continue to have the option to withdraw Bitcoin.
  • A confirmation email will be sent to you by your sportsbook after they have determined that your deposit was successful.
  • After you have received the confirmation email, you will be able to begin betting after you have refreshed the website. When you are logged in at your sportsbook, the balance you have available to wager will be displayed somewhere on the screen, likely at the top.
  • As was said previously, the total time required for the deposit procedure is often between four and six minutes. There is a possibility that it might take up to forty minutes. If you run into any problems, the customer support department of your sportsbook is the place to go for help.

What Are the Steps Necessary to Withdraw Bitcoin from a Sportsbook?

The procedure for withdrawing Bitcoin from a sportsbook cashier and placing money in your Bitcoin wallet is, for the most part, same to the procedure for adding Bitcoin.

Proceed in the following manner:

  • On your sportsbook’s homepage, navigate to the “cash out” or “withdrawal” area.
  • Choose the “Bitcoin” tab.
  • In the field provided, enter the total amount of US Dollars that you wish to withdraw from your sportsbook.
  • You will be brought to a screen that includes a one-of-a-kind transaction ID number, the amount (converted to USD) that you intend to withdraw, the Bitcoin exchange rate, and a blank field for you to enter your Bitcoin address in.
  • Launch the client for your Bitcoin wallet, and then copy and paste the Bitcoin address that your sportsbook should use to transmit the payments. Because Bitcoin transactions cannot be reversed once they have begun, you must ensure that the address you choose is valid before proceeding.
  • Make sure you click the “confirm” button.
  • Your sportsbook will direct you to a new page, where you will be informed that the processing of your Bitcoin withdrawal has begun.
  • There is a possibility that the price of Bitcoin will have changed between the time you withdraw a withdrawal and the time it takes for the monies to be sent to your account. In the event that the price falls, there will be a slight reduction in the total amount that you get. On the other hand, if it goes up, you will obtain a greater amount of Bitcoin.
  • Some online sportsbooks may assess a one-time, flat fee for withdrawals, regardless of the deposit or withdrawal method that you use. If you are assessed a withdrawal fee, know that it has nothing to do with Bitcoin itself; rather, the money is used to cover the significant expenses of operating a safe and reputable online shopping platform.
  • It might take anything from one to forty-eight hours for you to get your Bitcoin.
  • Once your Bitcoin has been sent to you, your sportsbook will send you an email to let you know.

Caution: You Should Stay Away From Bitcoin Exchanges

When sending payments to your sportsbook, we strongly suggest that you use a Bitcoin wallet rather than a Bitcoin exchange at all times. Wallets, in contrast to exchanges, are exempt from the annoying “know-your-customer” and “anti-money-laundering” laws that Bitcoin exchanges are required to adhere to. Wallets are not subject to these restrictions. If you send Bitcoin to your sportsbook via a wallet, the transaction will be completed without a hitch.

There have been reports that some online exchanges, including as Coinbase, are putting limits on the ability of users to use Bitcoin to make transactions with sportsbooks. There have been reports, albeit quite infrequently, of online exchanges suspending their customers’ accounts if they try to send money to an online sports betting site. This is despite the fact that this scenario is extremely unlikely.

In the event that you do make the decision to transfer Bitcoin from an exchange to a sportsbook, you will not decide the risk of losing your Bitcoin permanently. You run the danger of the exchange freezing your account, which would force you to move your Bitcoin to a different wallet in order to execute the transaction you want to make. Set up a Bitcoin wallet right away to avoid having to deal with this difficulty later on.

Questions That Are Typically Asked

When considering which sportsbook to join, bettors like you likely have a number of questions that need answering. Find the answers below.

Is Bitcoin the only cryptocurrency that may be used to place bets at sportsbooks?

Although this is not required, it is the cryptocurrency that is accepted at the most betting sites. Other cryptocurrencies like Ethereum and Litecoin are also regularly accepted at sportsbooks, albeit not on the same scale as Bitcoin. Bitcoin was the first cryptocurrency ever created, giving it a “first mover” advantage that has helped it gain more confidence among bookmakers.

Why are online sportsbooks placing such a strong emphasis on encouraging customers to utilize Bitcoin?

Bookies have a number of problems with banks, including excessive fees, lengthy transfer times, and occasionally outright blockage of their business. These problems can be alleviated by using a decentralized protocol such as Bitcoin. The latter is something that can never take place on Bitcoin because it is not managed by a centralized authority.

How much larger are Bitcoin bonuses compared to bonuses that don’t include Bitcoin?

There is no specific number to use in this situation; nonetheless, there is often a significant gap between the two. It is not unusual for a Bitcoin sign-up or reload bonus to be anywhere from 25 to 50 percent more than a non-Bitcoin one. That’s not chump coin, especially if you’re going for the bonus’s maximum potential!

What aspects of Bitcoin ensure that its use is risk-free?

Two things, one of which is that it is pseudo-anonymous, and the other is that it uses the blockchain technology. There is no record of anybody ever successfully hacking Bitcoin’s blockchain, and doing so would require a significant amount of work from a large number of individuals. Maximalists of Bitcoin say that the network cannot be penetrated by hackers, which, after 12 years of existence, appears to be the case.

Is making deposits and withdrawals using Bitcoin the quickest method to handle money at a sportsbook?

Without a shadow of a doubt, yes. Bitcoin transactions are less complicated and take less time to complete since they are not supervised by a “middleman” such as a bank or a card issuer. It is a really peer-to-peer network in every meaning of the term.

Are “mining fees” for Bitcoin costly to pay?

They are hardly what we would call costly. In point of fact, we think of them as reasonable. As was said earlier, the Bitcoin network is extremely difficult to attack. The miners and nodes that are responsible for the upkeep of that failsafe system should be paid for their efforts; this is the purpose of the miners’ fees.

Does the fluctuation in price of Bitcoin have an effect on my betting bankroll?

There is no other single asset that exhibits the same ebb and flow as Bitcoin. But don’t worry, this won’t have any impact on the money you have available for betting. When a customer deposits Bitcoin into their account at a bookmaker, the balance is instantly converted into US Dollars (at the current price of Bitcoin). Your balance will not be affected, regardless of whether the price of bitcoin skyrockets or plummets.

I want to transfer money from my sportsbook to my Bitcoin wallet, but I’m not sure if it’s a complicated process.

Yes, after you get the hang of it, it’s much the same as making a transfer from your bank account. Your Bitcoin private key and its associated unique address serve a purpose that is analogous to that of a bank account number and routing number.

Is it possible for me to get my money back for Bitcoin transfers?

You can’t do it at all. As was said before, the only parties involved in Bitcoin transactions are the senders and the recipients. When a transfer is complete, its details are entered into the ledger and the transaction is considered conclusive at that point. Therefore, while moving Bitcoin back and forth, you should always double-check and even triple-check addresses.

Is Bitcoin just a passing trend or is it “the real thing”?

This has not been verified, however the evidence points in the direction of it being the genuine article. In general, fads don’t persist as long as Bitcoin has since its inception in 2009, which is now a full 12 years. Despite this, it is still considered a speculative asset and has to make more headway before it can be considered the “store of value” that its most outspoken proponents want it to be.

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