Bitcoin Sports Betting

  • Betting Type

Betting on sports using Bitcoin has become a lot simpler than you can imagine. Recently, sportsbooks have been more accepting of Bitcoin bets and even give out larger bonuses for users who use cryptocurrencies, opposed to those who stick to traditional currencies. It’s also much nicer being able to both play and win in BTC.

We list the Top Bitcoin Sports Betting Sites

#1 – Sports Betting

Bitcoin and esports are a natural fit, and many sites around the world allow you to bet on esports with Bitcoin or other cryptocurrencies. On this page, you’ll learn more about how you can bet Bitcoin on esports, the types of esports games you can bet on, and what to look for when selecting a Bitcoin gambling site. Bitcoin sportsbooks are an ever-growing trend and knowing that sports betting accounts for the largest market percentage in the global betting industry, they are certainly worth a look at. If you are an avid sports bettor or are looking to dive into the world of crypto gambling, then Bitcoin sportsbooks are definitely the way forward. Bitcoin is used on a wide variety of sports, just like standard online betting. Best Bitcoin sportsbooks allow you to deposit and make Bitcoin payouts just like a regular betting sites, and you will be able to have access to the same wide market of sports in most cases. Bitcoin bookmakers have even virtual sports and esports to bet on as well. Bitcoin sports betting bonuses The sports betting bonuses that are available at Bitcoin sportsbooks are very similar to the ones that you will find at standard sportsbooks. Depending on the sportsbook, players will be offered promotions such as: acca boosts, increased odds on certain games, free bets and matched bonuses. Bet on sports with Bitcoin and crypto and cash out instantly with automated withdrawals. Online casino, live dealers, virtual sports, live sports betting, poker and more.

A global leader in offering world class sports betting, they offer multiple cryptocurrency deposit options including Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH), Ripple (XRP) and Stellar (XLM).

#2 – Bet Online

Bitcoin Sports Betting

Bet Online has an impeccable reputation and they have achieved this by offering some of the best customer service in the world, along with great odds. You can wager in BTC, and they offer options to wager on nearly any sporting event that you can think of. They also offer all new players a generous sign-up bonus. Also check out the great casino games.

#3 – Cloud Bet

If you are looking for a safe and reputable bitcoin casino with multiple betting options, including sports betting and esports this is your best option.

You can literally bet on every major sporting event including NFL & NCAA football, NBA & NCAA basketball, MLB, NHL as well as boxing, rugby, MMA, and much more.

This is by far the best bitcoin focused sportsbook.

USA Prohibited.

#4 – Bovada

This is one of the oldest sports books in the world, and they were also one of the first to focus on offering bitcoin deposits and withdrawals. A clear favorite Bovada offers betting on all of your favorites sports, they also offer a world class casino, poker rooms, live dealers, and much more.

#5 – GT Bets

This is another solid option for players who are want to wager on sports using Bitcoin (BTC) or other cryptocurrency. This is a smaller outfit than the others that we recommend, the benefit of this is they really go out of their way to offer the best in customer service, and they always aim to payout winnings as fast as possible. Make sure to checkout the promotions page.

The Basics of Bitcoin Sports Betting

Players must comprehend the fundamentals of crypto-currency betting before they even place their bets. There is a wide variety of bets you can choose from, each of them having its own pros and cons based on their type, wage and value. Some of the most popular ones are:

  • Moneyline
  • Parlays
  • Props
  • Point Spread
  • Futures
  • Live Bets

Moneyline: Choose the Winner

The most straightforward way to get into Bitcoin sports betting is Moneyline. The player receives a payout that is directly linked to the result of the event that is happening. The odds are expressed with fractions, decimals or American odds. We will use American style round the entire post, to keep things most understandable.

American odds detail what it would take for the player to win a certain amount of money on a particular bet. Imagine that the Super Bowl is happening and the player wants to win 100$. Odds are usually displayed as:

Pittsburgh Steelers (-200) vs. Dallas Cowboys (+180)

This means that if the player wants to win the 100$, they are required to place a 200$ bet in favor of the Steelers. In contrast, if the Cowboys win and the player has bet on them, they get paid out a sum of 180$.

Sportsbooks root the payouts by the current trends across the betting market; this is the reason why the payouts are much less than the bets themselves.

Parlay: Stacking Up Wins

Parlay betting allows the player to stack up games in order to enlarge their win. Usually, up to three games are required to place a parlay bet. The player can also use point spreads and moneylines to be stacked on a parlay.

While the payouts are generally larger, the only downside is that the player needs to win all the bets in order to be paid out.

Props

“Props” or propositions bet means that the player bets on a certain occurrence of the event, not the result of the event itself. For example, the player can bet that Dak Prescott can score 25 points in a game or whether Andy Dalton does around 23 passes.

Point Spread: Marginal Winners or Losers

The catch of this type of bet is to bet on a game with even odds, meaning that the favorite needs to win by a certain amount while the underdog needs to lose by an even amount. If we use the game from the previous example, the bet would look like this:

Pittsburgh Steelers +3.4 (+130) vs. Dallas Cowboys -3.4 (-130)

For the player to win 100$, they need to place a 130$ bet. At the same time, the Steelers need to win by at least 4 points to ensure that the bet is won; if the Cowboys lose by 4 points or less, the player is also paid out.

This type of betting is especially popular with NFL and NBA games, because it is really easy to assume the favorite and the underdog on an even playing field.

Futures: Future Wins

By the title of the bet, it is obvious that the player bets on a prediction that is in the far future.

For example, you can bet on a certain NBA team to take the crown in the next championship:

Chicago Bulls +420

Meaning that if you place a 100$ bet, you can be paid out a sum of 420$. The downside being, that any other team can win the championship, leaving your bet to a loss

Choices of Bitcoin Deposits and Withdrawals

Generally, sites that allow crypto-currency betting enables players to continue wagering on their preferred sports; to keep things simple they usually cite BTC bets in dollars. Because of this, the sites protect the players from price swings that go up to 30%, as well as offering them larger payouts, sometimes even higher than 200%.

Using Bitcoin on sportsbooks is really easy. Firstly, you need to buy Bitcoins from your credit card, which can be simply done with exchanges such as Kraken or Coinbase. Once you have the coins, you transfer them to the sportsbook’s crypto wallet address. Transactions usually cost a couple of cents, and they appear on the sportsbook almost instantly. This process can be easily done through mobile apps or websites.

The only thing you need to note is that bitcoins trade to 12 decimals, in contrast to traditional currencies trade to 2. It is possible that sometimes a transaction can be completely free, but most sites limit users to a minimum and maximum exchange amount for deposits and wagers as well.

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The use of Bitcoins as an alternative payment system has become increasingly popular as more and more companies find an online presence. Bitcoin itself was developed as a kind of “virtual” currency, or cryptocurrency, which could be used to make transactions, and is completely decentralized.

As a result, the supply of bitcoins has no ‘single repository or administrator’ and the production of new bitcoins is regulated by an algorithm – the advantage is two-fold: on one hand it is not subject to the sort of inflation and deflation that occurs with other fiat currencies, and secondly it is not subject to government seizure. Best us online casinos that payout the most.

And now – whatever your favorite sport is – you can bet on it with bitcoin – worldwide. Badminton, Baseball, Basketball, Boxing, Cricket, X-Country, Darts, E-Sports, Football, Golf, Handball, Hockey, Horse Racing, Ice Hokey, MMA, Motosport, Olympics, Rugby, Skiing, Snooker, Table Tennis, Volleyball, Wintersports, Wrestling or thousands of other sport events.

What To Look For In A Sportsbook Site

As a currency that is based entirely online, it has become a preferred reward system for many sportsbooks. These sportsbooks act essentially as interactive forums where individuals can lay bets on the outcome of different sports, ranging from anything to golf and wrestling to league-oriented professions like soccer and football. With increased competition, and a growing familiarity and popularity with online gambling, it’s no wonder that it has fostered numerous bitcoin betting sites and bitcoin casinos like the top 10 gambling sites , each of them trying to draw in customers.

Of course you can bet on all your favorite sports events with bitcoin:

  • NCAA March Madness
  • NFL Football
  • NBA basketball
  • MLB baseball
  • English Premier League
  • Spanish La Liga
  • French Ligue 1
  • German Bundesliga,
  • UEFA Champions League
  • UEFA Europa League
  • Italian Serie A
  • Indian Premier League cricket
  • Pakistani cricket
  • Australian cricket
  • Twenty20 cricket

Bitcoin Sports Betting Sites

Why use Bitcoin for Sports Betting?

Bitcoin Sports Betting

There are a number of reasons that some of the top online sportsbooks have begun – often exclusively – to use Bitcoins as their preferred currency system. For one, because it is all ‘virtual’, the majority of major banks don’t recognize Bitcoins as legal tender. As a result, using Bitcoins allows users and providers to avoid legalities concerning gambling laws – in certain countries or states where betting and gambling is illegal, Bitcoin is not subject to the same circumscriptions. The same all other types of gambling and betting with bitcoin or other crypto currencies, like the ones tested at sites like Luckycoiner.

The virtue of being completely online also opens up two other benefits: one, the efficiency of making transactions is streamlined and almost instantaneous. This bodes well for sportsbooks since often times their method of wagering can be time-based. Because of its peer-to-peer system, it also means that there are no fees such as those attached to credit cards, and the fees that are present are paid by the purchaser rather than the vendor.

How to start with Bitcoin?

In order to get started with Bitcoin you’ll first need to get an E-wallet to ‘store’ your Bitcoins.

Generally this is equivalent to a digital wallet. To actually acquire currency, one can either receive Bitcoins in the form of payment for goods or services from other users, barter for new Bitcoins from friends, or buy them outright from certain bitcoin exchanges ( more here ) using your own bank account.

Afterwards, it’s as easy as transferring a set amount from your E-wallet to your profile or account with an online sportsbook of your choice.

Tips For Selecting A Sportsbook That’s Right For You

Because of the influx of online sportsbooks, it can often be difficult to know which ones are reputable and which ones aren’t. In general, some of the top Bitcoin Sportsbooks have managed to attract a loyal and growing number of patrons by carving out a niche for themselves and offering better odds, variety of betting options, and usability than their opponents.

Some more popular ones include Nitrogen Sports and Cloudbet, both which have a vast number of different sports available for newcomers to gambling and tested veterans alike. But when it comes to gambling – whether on future games or live – variety is just one of several things to take into account before signing up with a sportsbook.

The grade of a given sportsbook is contingent on a number of factors, with sites like CloudBet, Sportsbook.io, and Betcoin Sports receiving the highest accolades by the Sports Book Reviews.

So what makes a good sportsbook?

What are the odds?

To begin with, it’s always prudent to prowl around and check the odds. These are basically the chances you have of winning a given wager, and it can often be a bit confusing to those who are new to betting since the odds can differ wildly according to what game you’re playing, how much time is remaining to make a wager, and what kinds of wagers are available.

For example, some football pools use Asian handicaps that have five different wagers:

Win, Lose, Tie, Half-Lose, and Half-Win. Knowing which odds are the best, compared to other sites, and knowing how to use the wagers to your advantage go hand in hand. As with all betting, there is also the matter of minimum and maximum wagers, and regardless of your proficiency with online betting this should play a role in your decision.

Minimum and maximum wagers?

As a general rule, it’s a good idea to avoid minimum wagers of more than 0.001 Bitcoins unless you have some prior experience, and this is more or less the standard across the board. In terms of maximum payouts however, it can vary anywhere from being unlimited to $50,000, all the way down to $5000 a week.

Knowing your own skill level, and having some idea of your overall ratio of success will enter into your decision about which sportsbook you most closely identify with.

Welcome Bonuses for Bitcoin Betting

Another consideration is bonuses. A number of sites – most notably Cloudbet – will even offer welcome bonuses for users signing up for the first time. For example, a site may offer a full bonus up to 0.5 Bitcoins, so if you deposit any amount within that range they will match it. Some sites also offer free bets, where you can make a wager without having to put down any currency.

There are also bonuses related to whether or not you refer friends who also sign up, and bonuses that reduce the juice – this is a term that refers to the amount a given sportsbook will charge you when you make a bet on something – thereby giving you a slight edge.

Fishing around sportsbooks to see what sorts of bonuses are available, and how they translate into earnings for you, is a good way to weed out which sites have a proven track record and which are scams.

Bitcoin Sports Betting

Security And Reliability

Obviously another important factor is security. Because of the volatility of Bitcoin as a currency, and the fact that it has no drawback or refund policy, this means that many shady organizations have taken advantage of the inherent ‘honesty policy’. In order to counter this, the better online sportsbooks have nearly all taken measures against fraudulent activity (even in the case of some introducing a DDoS shield to protect against cyber-attacks).

Cold Storage

Some sites even have a ‘cold storage’ where deposits are stored offline and secured with keys to prevent them from being manipulated or stolen. A two-step authentication process is in place for most sportsbooks as well, which involves a username and a passcode in conjunction with SSL encryption. Checking out the FAQ’s of different sites to see what sort of security is offered will give you a better idea of how safe your Bitcoins are.

Anonymous or fully registered?

When you’ve found a sportsbook you think you’d like to be a part of, the next step is registering. In some cases – such as with Nitrogen Sports – merely visiting their site will open an anonymous account, while other sites may require a username and valid e-mail. Still those data can be fake, as long as you have access to the email address you use for the signup. This is pretty much the same as at trading sites that don’t claim user ID’s, which is only possible when people want to transfer cryptos only to and from the platform and no fiat money.

Generally the sites that have been around the longest tend to be the ones that are the most trusted, and you can always do a little digging to see when a sportsbook came online which can give you a pretty good idea of how trustworthy they are. However, avoid any site that asks for personal or bank/credit card information, especially if it’s being advertised as a Bitcoin sportsbook!

The Pros and Cons of Bitcoin Sports betting

The Pro´s:

Sports

The pros of using a Bitcoin Sportsbook have already been alluded to, and include the ability to make lightning fast transactions in real-time using up-to-date metrics on live sports. Because Bitcoin is all online, you don’t have to wait for payments to go through, as would be the case for other institutions (especially if you were working across one or more currency exchanges/countries).

There is also the anonymity granted by using an E-wallet, and the limited amount of personal information needed to sign up for these sportsbooks, which can give some peace of mind.

The Con’s:

The cons, however, are related to the same thing: Bitcoin can be a risky and volatile venture, and for individuals new to using it there are a number of pitfalls. Gambling is something you have to be an expert in, in order to win more often than lose, similar to trading. Each is something you can learn more or less. Even if gambling or online betting isn’t strictly illegal in your country or state, it is illegal in the United States to run and operate an online sportsbook.

Therefore, the majority lie outside the US – caution should be exercised when registering with a site whose URL is a “.com”, as these are more likely to be scams. There is also, of course, the unpredictability of gambling itself. While there is a degree of skill in the betting pools, especially with league sports, a greater portion of the outcome is based on luck, and every player needs to be cautious and aware of this.

Bitcoin Sportbook Conclusion

Gambling on sports can be a fun – and sometimes easy – way to make money and interact with other players who are just as enthusiastic. The rise of virtual currency in the form of Bitcoins represents a revolutionary way to bet online, by putting a huge selection of your favorite sports at your fingertips and challenging you to guess and deduce the outcomes of games in a safe and secure environment.

Using Bitcoin For Sports Betting

While there always risks associated with betting, part of its charm lies at the crossroads where skill and luck meet – ultimately it comes down to being informed, understanding the rules and process of each sportsbook, and being cognizant of the stakes: what you’re willing to lay down, whether you can afford to, and what your chances are.