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Btc sports betting

Bitcoin sports betting is a comparatively new trend, but everything indicates that the digital currency will be used by more and more users in the future. This is mainly due to the tempting properties of this means of payment, because transactions with Bitcoin are particularly secure due to the anonymity, can be processed quickly and only cost a micro amount.

In this guide, we will show you where you can place Bitcoin sports bets today, what advantages this has for you, but also what needs to be considered. We also present Bitcoin betting providers which are reputable.

Btc sportsbook

This bitcoin betting site list is not complete as we have not included those bitcoin betting sites that we are suspicious of. We will also go into more detail on the question of particularly lucrative Bitcoin sports betting bonuses. We will also go into more detail on the question of particularly lucrative Bitcoin sports betting bonuses.

Bitcoin Sports Betting Providers Compared: What Is The Best Provider To Bet With Bitcoin?

Bitcoin sports betting sites

There are several advantages for you as a betting customer if you pay for your sports bets with Bitcoin:

Benefits:

Bitcoin is more anonymous than other payment methods: no personal information is required to create a Bitcoin wallet. For the transaction itself, you only have to enter the two cryptographic keys. Your data is therefore well protected and cannot fall into the hands of hackers.

Transactions with Bitcoin are fast: it usually takes only a few minutes for the transaction to be confirmed by the network. By voluntarily paying a slightly higher transaction fee, you can ensure that your transaction is processed with priority.

There are only very small fees: With many betting providers, deposits and withdrawals are free of charge. In the Bitcoin network itself, a transaction is already possible for a fee of a few cents.

The value of Bitcoin can increase: Bitcoin has proven to be a serious alternative to the euro, dollar and other currencies in recent years. More and more users trust the cryptocurrency and invest in Bitcoin, which is reflected in rising prices. Your bitcoins bought today could therefore be worth many times the original price in the near future.

Disadvantage:

The Bitcoin price is very volatile: Just as Bitcoin can increase in value, large losses in value are also possible. So there is a certain risk of exchange rate fluctuations, which are significantly more pronounced than with currencies that are regulated by banks.

There are faster payment methods: A Bitcoin transaction has to be confirmed several times by the network before it is considered verified. Since a new block is only created about every 10 minutes, this can sometimes take a while.

A wallet is required: This is not a real disadvantage for betting customers who already use Bitcoin anyway, because these users will already have a wallet. However, if you do not yet have any bitcoins, you must first create a wallet and buy bitcoins. This can sometimes be quite complicated. For example, Trustly sports bets can be placed without any additional effort. PayPal bets also work without a time delay.

Reputable bitcoin bookmakers

Long gone are the days when you first had to go to a bookmaker in Persona to bet on a football match or any other sporting event. Modern fans place their sports bets online, which has other advantages in addition to the 24/7 availability. For example, betting customers can receive attractive bonuses and benefit from particularly good odds. You can find out where you can get particularly good conditions in our reviews.

When we rate online bookmakers, the payment methods offered also play an important role, because of course it is important that customers can deposit and withdraw money quickly and, above all, securely. So far there are not very many reputable sports betting providers where Bitcoin sports betting is possible. We specifically looked around for Bitcoin betting providers. With a click on the corresponding Bitcoin betting provider you get to the associated review or you can also register directly with the betting provider and then pay for sports bets with Bitcoin there.

Since Bitcoin had a rather dubious image not too long ago, because the cryptocurrency, which is considered anonymous, was also often used for payments in the so-called Darknet, this method is not yet offered by many online bookmakers. The negative reputation has turned out to be largely unfounded, because more and more reputable companies are now investing in the cryptocurrency, and transactions with Bitcoin are sometimes considered to be more secure, such as classic bank transfers or other common Fiat currency payment methods.

Bitcoin also enables people in totalitarian systems to connect and send and receive money without government regulation. Bitcoin makes users independent of banks and their interventions in the currency system and ensures that personal data cannot fall into the hands of the wrong people when making online payments. Another reason why there are not that many Bitcoin betting providers is the legal situation, which has been unclear for a long time.

The makers of Bitcoin created the alternative currency, among other things, to be independent of government regulatory systems. Therefore, payments with Bitcoin were wrongly considered “semi-legal”. However, it is now clear that Bitcoin has established itself as a serious payment alternative. The coin is also used by large online shops and has long since left the legal gray area. Therefore, we firmly believe that the possibilities for Bitcoin sports betting will increase in the future and that more and more bookmakers will offer this payment method. We consider the following Bitcoin betting provider to be serious

Can I get a Bitcoin Sportsbook Bonus?

Most online bookmakers offer a sports betting bonus because the competition in the industry is fierce and many users are given an incentive to register with the respective sports betting provider. Such a bonus is usually also available from the Bitcoin betting provider. This is usually granted even if the cryptocurrency is used as a deposit method. In individual cases, the bookmaker may even offer a special Bitcoin bonus. After all, it is also an advantage for the betting provider if the customer uses Bitcoin or another cryptocurrency to top up his betting account.

In contrast to payments by credit card or bank transfer, the bookmaker is not exposed to the risk of fraud, since transactions with Bitcoin cannot be reversed. Once the money has been received, the bookie can be sure that it cannot be booked back. That alone is a good reason to reward Bitcoin sports betting with an additional bonus. Regardless of which deposit method was used to receive the bonus, usually neither bonus funds nor the winnings made with them can be withdrawn immediately.

Bitcoin sportsbooks

Finally, the Bitcoin betting provider grants you the bonus so that you can then deal with their betting offer and place appropriate sports bets. The bonus is therefore held on a separate bonus account and is not available for withdrawal. If you have generated the turnover with sports betting specified by the bookmaker, the bonus credit will be transferred from the bonus account to the real money account. Now you can dispose of it in full and have it paid out if you wish.

You can dispose of the credit on your real money account even before fulfilling the bonus conditions. However, if you request a withdrawal before the wagering requirements are fully met, the bonus will usually be removed from your betting account. Therefore, it makes sense to wait with the payout until the bonus can also be paid out. So that you actually get a financial advantage from the bonus, we strongly recommend that you familiarize yourself with the Bitcoin betting provider’s terms and conditions in advance. This allows you to plan your bets accordingly, meet the requirements quickly and then cash out the money.

Cryptocurrencies work with so-called blockchain technology and, unlike the fiat currencies we are familiar with, are decentralized. Therefore, no central body is needed to regulate the amount of coins and verify transactions. This is done jointly by the entire network, with each user having access to all information. If individual participants in the network fail, this has no effect on the availability and reliability of the bitcoin.

New transactions are processed in so-called blocks, which are then joined together as a chain. The transactions are verified by network participants making computing power available to find valid hash values for new blocks. Bitcoin was the first cryptocurrency in 2009 and is still the most common today. Because bitcoin has long proven to be a convenient, reliable, and secure means of payment, bitcoin is popular with Internet users. Many betting customers also prefer Bitcoin to classic deposit methods.

This has not gone unnoticed by bookmakers, which is why more and more of them are offering deposits and withdrawals through Bitcoin wallets. In order to be able to deposit with Bitcoin at sports betting providers, a betting account is required. This can easily be opened online. Various methods are then available for the customer to deposit, including Bitcoin. Now the user needs a so-called Bitcoin wallet.

Anyone who already uses the cryptocurrency for other payment transactions will already have such a wallet.

If there is no wallet yet, it can be opened online with just a few details. The deposit is now made by specifying how much you want to deposit into your betting account. The Bitcoin betting provider then provides a wallet address to which the customer now only has to send their coins to complete the deposit. After the Bitcoin network has confirmed the transaction, the deposited funds appear in the betting account and can be used to place sports bets.

Bitcoin sports betting – How does it work?

In order to be able to pay with the Bitcoin betting provider with the cryptocurrency, you must of course first have Bitcoin. You then store this on a so-called wallet, which you can set up free of charge with various providers. Management on so-called hardware or paper wallets is even more secure than storing the means of payment on an online wallet. But Bitcoin can also be used quite safely with the online wallet if you make sure that your own computer or mobile device is well protected against hackers.

At so-called crypto exchanges on the Internet, you can buy Bitcoin and other cryptocurrencies with euros or US dollars. Depending on the payment options offered by the trading platform, payment is made by bank transfer, credit card or another payment provider. As soon as the money you paid is received by the crypto exchange, it will send the corresponding amount in Bitcoin to the wallet address you specified. Here you can now dispose of the coins and, among other things, pay for sports bets with Bitcoin.

Another way to buy Bitcoins online are the so-called exchange platforms. Here the trading price is not specified by the operator of the platform, but determined by the users themselves. You can create an offer with just a few clicks by specifying the amount of Bitcoin you would like to purchase and the price in euros you are willing to pay for it. If an exchange partner is found who would like to enter into this trade with you, the trade will take place.

Alternatively, you can also filter the offers already available on the platform according to your individual criteria and thus find a suitable diving partner. Regardless of whether you prefer a crypto exchange or an exchange platform, you should always make sure that you only buy Bitcoin from reputable providers. Since transactions with Bitcoin cannot be reversed, it is usually almost impossible to get the lost coins back in the event of fraud. In the meantime, several large providers have established themselves with strict security measures, so that you can buy Bitcoin and often other cryptocurrencies there without hesitation.

Get started step by step with the Crypto sportsbook

There are a few steps to betting with Bitcoin. If you want to use the cryptocurrency as a bet for sports betting, you must of course own bitcoins. The purchase of Bitcoin is possible online at the so-called crypto exchanges or on exchange platforms.

Bitcoin is rarely traded offline because transactions cannot be reversed, which involves some risk when buying the coins privately. The means of payment of choice for private offline purchases is therefore usually cash. In our table we have listed several Bitcoin betting providers. Which of these bookmakers you ultimately choose depends on your individual requirements. While some betting customers value a particularly high bonus, for example, it is important to others that bets on a specific fringe sport are also offered. Other users only want to register with bookmakers that offer 24/7 customer service.

In our sports betting provider test reports, we have taken a close look at the different advantages and disadvantages of the tested providers, so that you can use these reports to decide which of the tested Bitcoin bookmakers is best suited for you personally. Even if you use Bitcoin as a deposit method, you can still get a new customer bonus in most cases. Before making a deposit, make sure that the Bitcoin betting provider automatically credits its customers with the bonus, or whether you may need a bonus code.

The Bitcoin betting provider will provide you with a wallet address for your deposit, to which you can send the desired amount. The deposited funds will then usually be credited to your betting account within a few minutes, depending on how long it takes the Bitcoin network to verify your transaction. Below we have clearly listed the individual steps required for placing Bitcoin sports bets:

Create Bitcoin Wallet & buy Bitcoin

Find Bitcoin betting providers & register there

Make deposit with Bitcoin, use bonus if necessary

Use funds as a stake for sports betting

Bitcoin betting sites with your mobile phone or tablet PC

Modern online bookmakers either offer their customers a free sports betting app for the common operating systems or have optimized their website for use with mobile devices so that it automatically adapts to changing requirements. In this way, the entire range of bets can also be used on the go, and users can also place their desired bet with just a few clicks on the go, in the football stadium or in the sports bar.

Since not every customer always has enough credit in their betting account, the mobile version also supports the usual deposit methods.

Bitcoin sports betting is therefore also possible on the go, provided you have a wallet app from which you can initiate the deposit even without a computer. Such apps can be downloaded for free from various trusted providers.

Since you have the option of spontaneously topping up your betting credit with the mobile Bitcoin deposit, you can also easily register with several Bitcoin betting providers and then deposit spontaneously where you are offered the best odds for the bets you are planning. This way you get more money out of a win, which will pay off in the long run.

How serious and safe are Bitcoin bookmakers?

Transactions with Bitcoin are considered very secure because they can only be carried out by those who have the appropriate cryptographic keys for the coins. Personal data is not passed on during the transaction and therefore cannot fall into the hands of hackers. Since bitcoin deposits and withdrawals do not involve the transmission of information such as name or even account details, this method is considered to be significantly more secure than credit card payments or bank transfers. However, it must also be said that thanks to high security standards, the other two payment methods are also considered safe by experts, provided it is a reputable Bitcoin betting provider. Bitcoin sports bets are of course only as secure as the associated Bitcoin betting provider.

Just like with all other deposit methods, you should therefore make sure that the Bitcoin betting provider you choose has a valid sports betting license. In addition, the experiences that other customers have had with the bookmakers in question are helpful. If, for example, there are many negative reviews, it usually makes sense to refrain from a government with the relevant provider and instead opt for another alternative. A reputable Bitcoin betting provider pays strict attention to the security of its customers and values encrypted data transmission. This prevents sensitive information from falling into the wrong hands.

The general terms and conditions should also state that the bookmaker only uses customer data for a narrowly defined purpose and does not pass it on to third parties without the customer’s consent. In order not to fall for dubious online bookmakers, when choosing your Bitcoin betting provider, you should make sure that it has a sports betting license issued by an EU member state. This binds the bookmaker to strict regulations and ensures that winnings are paid out reliably.

If, contrary to expectations, there are serious conflicts with the Bitcoin betting provider, you can also contact the regulatory authority, which will then review the case and intervene if necessary.

What about price fluctuations?

Since Bitcoin is not regulated by any authority or other bodies, its course fluctuates much more than we know from the euro, dollar or other fiat currencies. The price fluctuations can be both an advantage and a disadvantage for the users. On the one hand it can happen that the coins paid out are worth significantly more than they were at the time of deposit, on the other hand it is of course just as possible that the Bitcoin price falls and you pay out the equivalent of significantly less euros than you initially invested, even if you actually made a profit from your Bitcoin sports bets.

Betting customers who also use Bitcoin for other payment transactions apart from sports betting and who store coins permanently in their wallets are usually relaxed about the price fluctuations. They think long-term and mostly assume that Bitcoin will gain in importance over the next few years and thus also increase in value. Short-term losses in value are therefore not a problem for these users. For many other users, on the other hand, the euro is still the decisive currency, even if they pay for their sports bets with Bitcoin.

These users do not want to have to accept any losses due to a falling Bitcoin price. It is an advantage for them if the betting account is managed in euros, regardless of the chosen deposit method. Here the money is then converted into euros immediately after the Bitcoin deposit and only before a payout is converted back into Bitcoin at the then current rate. Despite the digital means of payment, it can ultimately be calculated in euros.

Best bitcoin sportsbooks – are there fees?

Bitcoin bookmakers are also popular because the transaction fees are very low. More specifically, users can determine for themselves how much money they want to pay the network to carry out the transaction. As a rule, a few cents are enough to ensure that the payment process is carried out quickly.

The fee paid for the transaction goes to the so-called miners, who use their computing power to ensure that the transactions are processed and attached to the blockchain as a new block. When paying out the credit on the betting account, the Bitcoin betting provider usually also pays a standard amount of a few cents as a transaction fee. This may be deducted from the amount paid out, but is not really significant due to the small amount.

Whether additional fees are incurred for deposits and withdrawals depends individually on the bookmaker and its conditions. In most cases, the deposit is free of charge, and there are often no fees charged for the withdrawal either. A transaction with Bitcoin is considered confirmed when it has been verified multiple times by the network. This is usually the case after about ten minutes.

The higher the mining fee voluntarily paid by the user, the faster the associated transaction is processed by the miners. Since deposits are fast and also possible via smartphone, spontaneous sports bets with Bitcoin are not a problem, for example if you want to place a quick live bet during the halftime of a football game.