BTC is currently on everyone’s lips and is also on the rise in sports betting. It can be assumed that cryptocurrencies will become even more important in the payment market in the future. Therefore, it seems only logical that more and more Bitcoin sportsbook are available.
However, these are still rare compared to the masses. You can find out which betting providers already offer Bitcoin sports betting here:
Another point that speaks for more Bitcoin betting providers in the future is the issue of fees. For every payment made by a customer, the betting provider has to pay a fee to the respective payment provider. Unless the customer pays the fee. However, there is no such fee for Bitcoin sports betting. Bitcoin betting therefore also has advantages for the bookies.
Advantages and disadvantages of cryptocurrency
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Cryptocurrency payments are anonymous
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No user-related data is provided
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Payments are usually processed directly
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There are no fees for Bitcoin betting
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Cryptocurrencies are not stable currencies
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There are currently not many Bitcoin betting providers
Why is this payment method not available everywhere?
Cryptocurrencies are a relatively new means of payment that has not yet become established. This may change in the future. Currently, only a few online shops and betting providers offer BTC as a payment method. Nevertheless, it will probably work the same as with other payment methods. The longer they exist, the more often Bitcoin sports betting will be possible with betting providers.
This is how the deposit works at the Btc sportsbook
Before you can make a deposit with bookmaker bitcoin deposit, you must first register with an online exchange. There are now a lot of these than there used to be. There you make a deposit by credit card, PayPal or instant bank transfer and can then exchange your balance for Bitcoin sports betting.
The Bitcoins are then available on an e-wallet that only you can access with a password and your username. Then you go to your betting account, select “BTC” in the deposit menu and follow the further instructions.
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Link the corresponding wallet to the provider’s account.
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Select the desired deposit amount on the account.
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Confirm the transaction and withdraw the Bitcoins from the wallet.
What you need to know about Crypto sportsbook
BTC is one of several cryptocurrencies that are well on their way to establishing themselves as a widely accepted means of payment. You can only pay with BTC online, and therefore also at online betting providers. Of course, only if they accept Bitcoin sports betting. To receive Bitcoin sports betting, you have to register with an exchange and exchange real money for Bitcoins there. You can then transfer the Bitcoins from an e-wallet, which you have to set up beforehand, to the betting provider and use them for betting there.
Deposit duration
Deposits via BTC are usually available immediately. Comparable to a transaction via credit card, Paysafecard or a payment service provider such as PayPal, Skrill or Neteller. If there are delays, this is usually due to the respective Bitcoin betting provider.
Payout duration
Bitcoin sports betting is clearly one of the faster payout options. In order to make a withdrawal, however, you must first create a Bitcoin wallet. Once you have done this, your credit may be ready in your wallet after a payout from the bookmaker in just a few minutes. But the same applies here: the payout time also depends on the processing speed of your bookie .
Minimum deposits
The same applies to Bitcoin sports betting as to other payment options: There is no standard value for the required minimum deposit . This is set individually by the bookmaker and therefore differs from betting provider to betting provider. As a rule, however, the values are relatively low in order to enable those betting fans who want to bet with a relatively small stake or with Bitcoin to make a deposit.
Minimum withdrawals
The minimum withdrawals are the same as the deposits: they are determined by the Bitcoin betting provider. Here too, the majority of the sports betting providers we know are relatively customer-friendly and offer withdrawals for relatively small amounts. You can find exact details in the terms and conditions of your bookmaker on their website.
Errors and problems with deposits and withdrawals
Problems can also arise with Bitcoin betting. It can happen that a deposit or withdrawal is not processed. In the case of a deposit, this is usually due to a technical error, while in the case of a withdrawal, the respective Bitcoin betting provider is often responsible. If difficulties arise, it is important to stay calm and not to panic. Go directly to the live chat or, if there is no live chat, write an email to customer support . Describe your problem there. In most cases, the problem should then be solved.
General information about Best bitcoin sportsbook
How cryptocurrencies work is not easy to understand at first, which is why we would like to explain it as simply as possible here. Payments with Bitcoins are processed virtually, and incoming and outgoing money is stored in virtual interim accounts, similar to an e-wallet. Units of Bitcoin are created through what is known as mining. Users who trade Bitcoins can participate in the creation of new Bitcoins by using computing power. Unlike conventional currencies, BTC is not subject to central bank control.
How and where can I buy Bitcoins for sports betting? You can buy BTC on various virtual exchanges and platforms. To do this, you first have to open a corresponding e-wallet. The price of Bitcoin rises and falls constantly. You can buy a BTC at the current price by paying real money via online banking or with a credit card.
How safe and reliable is the payment method?
B asically, Bitcoin is a reputable and secure means of payment. However, we would also like to make it clear at this point that it is currently still a virtual currency that is in its infancy. Specifically, this means: Bitcoin betting and other cryptocurrencies are relatively experimental, and the prices are subject to strong fluctuations. We would therefore first recommend making payments of small amounts to see whether payment transactions with the virtual currency will prove successful over a longer period of time.
The TOP 5 cryptocurrencies at a glance
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Bitcoin: With a market share of around 67%, it is clearly the most important virtual currency. BTC has been around since 2009 and its market capitalization is more than $165 million. If a bookmaker offers a virtual currency as a means of payment, it is usually Bitcoin sports betting.
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Ether: Holds an 8.1% market share with a market cap of more than $19 million. Ether has been around since 2015 and the currency has additional functions such as smart contracts.
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XRP: XRP is a payment system without a blockchain. The cryptocurrency has existed since 2012, its market share is 7.3% and a market capitalization of more than 12 million US dollars.
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BitcoinCash: BitcoinCash, known as BHC for short, has a market share of 2.1% and its market capitalization is more than 5 million US dollars. BitcoinCash is not very widespread, but still comes in fourth place among the TOP 5 cryptocurrencies.
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Tether: the cryptocurrency Tether has a 1.7% share of the market, making it the fifth most important cryptocurrency. The market capitalization is just over 4 million US dollars. Interestingly, the cryptocurrency is traded at a rate of 1:1 to the US dollar.
Are Bitcoin bets even worth it?
If you are concerned about not disclosing any personal data, a virtual currency like BTC may be worthwhile. For everyone else, the payment method is not necessarily relevant. On the one hand, BTC is a quite unstable currency that is subject to strong fluctuations. And on the other hand, a suitable e-wallet must first be set up and a suitable bookmaker found that offers Bitcoin sports betting and other virtual currencies as a payment method. In our opinion, cryptocurrencies are currently a nice option for sports betting, but they may not be interesting for everyone.
Bitcoin sports betting – When is the payment method suitable?
Bitcoin sportsbooks is interesting for those betting enthusiasts who want to make comparatively “anonymous” payments or reveal as little personal data as possible. However, this also applies to other payment methods such as Paysafecard. In principle, from our point of view, there should already be an interest in cryptocurrencies, otherwise using them with the betting provider doesn’t make much sense and also involves a risk, because BTC is subject to strong price fluctuations.
Sportsbook bitcoin – Are cryptocurrency payments legal?
, payments with cryptocurrencies are legal . However, you should still be a little careful when choosing your bookmaker. Because payments via BTC and Co. are anonymous processes.
This in turn also offers dubious betting providers the opportunity to make money with sports betting , as payments cannot be traced. So take a look at the website of your potential bookie and check whether they state their location in the imprint. A Google search for other customers’ experiences can also help. This way you can be sure that your preferred Bitcoin betting provider is also reputable.
More and more new Best bitcoin sports betting sites
We are noticing that more and more Bitcoin betting providers are appearing and we assume that there will be significantly more in the future. That’s why we continually adjust our overview “The TOP 5 Bitcoin betting providers 2022” as soon as we discover a new bookmaker where you can pay with the virtual currency. A regular look at the overview can therefore be worthwhile if you are looking for a Bitcoin betting provider.
That’s why the payment option is becoming increasingly popular
With Bitcoin sports betting, betting fans can make payments to the betting provider relatively anonymously . This makes cryptocurrency interesting. In addition, funds move quickly and easily from A to B if customers have an appropriate e-wallet. However, newcomers should first take a thorough look at the topic of Bitcoin betting or cryptocurrencies. Only then can you understand what is hidden behind the virtual currency in detail.
Best crypto sportsbook – you have to pay attention to this
Anonymous: Payments with Bitcoin sports betting are initially anonymous. That’s why bookmakers are not subject to any regulations if they want to offer transactions via BTC. Therefore, be sure to check the reliability of the betting provider before you open a new betting account there.
Check details: Since you cannot reverse payments, you should be careful to name the recipient correctly. If something goes wrong, your credit will be gone. So check again to make sure all the details have been entered correctly.
Convert into real money: If you want to make a withdrawal to an exchange platform where you want to convert your Bitcoin sports bets into real money, you must identify yourself. In this case, anonymity no longer applies, but German law applies.
Bitcoin Wallet: In order to be able to withdraw Bitcoins, you absolutely need a BTC wallet that can be managed in Bitcoins. So do your research beforehand and open a corresponding virtual intermediate account.
The best payment methods as an alternative
In addition to Bitcoin sports betting, there are some payment methods that have been established with bookmakers for years. These are available at most betting providers. In addition to the classic bank transfer, these include VISA and MasterCard credit cards, e-wallets such as PayPal, Neteller and Skrill, and various online banking services. Paysafecard is also popular with
Bitcoin bookmakers
Cryptocurrencies are becoming increasingly popular, especially Bitcoin sports betting. Betting providers have also discovered BTC as a means of payment and added it to their payment portfolio. However, Bitcoin betting providers such as Cloudbet or 22bet are still the exception. The advantages of Bitcoin sports betting are anonymous payments and quick processing. On the other hand, it is unfortunately subject to strong price fluctuations from time to time. In addition, dubious betting providers can also use BTC because payments cannot be traced. Therefore, first check how the respective bookie is doing in terms of seriousness.
Bitcoin sports betting is currently a nice additional option. At the same time, however, they are still too immature to represent serious competitors for established payment methods such as VISA and Mastercard, PayPal or Paysafecard. We are very excited to see where Bitcoin sports betting is headed and how many new Bitcoin betting providers will be added.