The number of bookmakers offering Bitcoin sports betting offer has been increasing for years. Find out here what the advantages and disadvantages of bitcoins as a means of payment are, and which provider offers the best bitcoin bets complete and more!1245
You can find the best Bitcoin bookmakers in our BTC betting comparison .
The special thing about Bitcoin: The system promises maximum anonymity , it is extremely secure and transactions are lightning fast .
Nevertheless, there are also reasons why sports betting with Bitcoin cannot be fully recommended.
We have 5 important tips for bitcoin sports betting put together for you.
You will also learn how to buy bitcoins for sports betting and place sports bets with bitcoin !
Paying for online football bets with the cryptocurrency Bitcoin works largely in the same way as conventional payment systems:
First you register as normal with the bookie of your choice.
If you don’t have bitcoins yet, you have to convert real money into digital currency on a bitcoin exchange, for example – you can find out exactly how this works below .
You now select Bitcoin as the payment method in your checkout area, make the necessary entries and complete the transaction.
Your balance should be noted within seconds.
Of course you can also activate a welcome bonus with the digital money . Some Bitcoin bookmakers even offer very special deals for cryptocurrency users . Thanks to the usually very low transaction costs associated with Bitcoin sports betting, high percentage bonuses are sometimes offered if you top up your account with Bitcoin. This actually affects not just one, but all deposits.
a conventional betting provider bonus with Bitcoin in accordance with the sales conditions, just as you would with other currencies. And the payout is also very similar – winnings are only not transferred to a bank account, but to your online wallet.
As with “conventional” bookies, there are of course better and worse options among the Bittcoin betting providers. We have put together the top addresses for Bitcoin bets in our BTC bet comparison below .
Bitcoin bookmakers have a number of advantages that make them so interesting for bettors.
One of the biggest advantages of a Bitcoin account is that the account holder often remains completely anonymous. Because various bookmakers with Bitcoin acceptance do not require the disclosure of an identity. All you have to do is provide an email address that customers can use to contact customer service. But even that is not mandatory for many bookies. In addition, it is quite easy to create an email address just for this purpose.
You don’t have to worry about storing personal information or even submitting proof of identification for account verification there. This leaves no traces that could expose you as a sports bettor, and the Bitcoin bookmaker can never use your data against you or for dubious purposes.
The absolute anonymity that exists in many places means that Bitcoin bookmakers can hardly block your account. This is of course interesting for dubious players, but honest betting fans also benefit:
Because after placing the bet and announcing the result of the bet, the winnings go to the player immediately. Even with a large payout , there are usually no delays.
You don’t have to worry about exceeding the limit, which can result in an account being blocked, nor about unfair action on the part of the bookie, who may withhold your high winnings until he has made enough income again.
Because of the way bitcoins work, depositing and withdrawing from bitcoin sportsbook is very fast and secure. The infrastructure of the payment is provided solely by the Bitcoin system, which in turn enables a money transfer with almost no additional costs . This is how the quick payout works for crypto sports betting .
Due to the flexible payment option with Bitcoins, it is also easy to send the money from one bookmaker to another or to transfer the winnings immediately to friends’ accounts. Even a transfer to other customer accounts with other betting providers is usually not a problem.
Although Bitcoin sports betting scores with many advantages, there are of course counterarguments to consider here as well.
Compared to other payment methods, bitcoins still lead a rather shadowy existence and many betting fans do not have sufficient experience with them. However, years ago, new online betting providers were brand new on the market and here, too, customers had to gain their experience first.
There is also a risk that some crypto betting sites may turn out to be scammers or not work profitably enough and therefore go bankrupt. As advantageous as anonymity is, it unfortunately also ensures that there are hardly any standards and legal regulations among Bitcoin betting providers .
However, since bitcoins are transferred so quickly, bettors are not dependent on depositing larger amounts. So if you don’t fully trust your betting provider right away, you can instead transfer smaller amounts several times – always just as much as is needed to place the bet. There are hardly any bookmakers with faster payouts than Bitcoin bookmakers!
The fluctuating course values have an impact on the betting limits . Usually the maximum is 1 to 5 BTC. Depending on the course, this corresponds to several thousand euros.
Although the Bitcoin price can be stable for a long time, it is sometimes also subject to violent fluctuations . This is both an opportunity and a risk for the bettor. Disadvantage 4: Future status of Bitcoin as a currency independent of banks and states
Due to the special construction of this means of payment, banks and states cannot regulate the transactions. A big seriousness factor is the future handling of Bitcoin:
It is quite possible that individual states or communities of states will at some point integrate the currency more broadly into economic processes or, conversely, come to the conclusion that it is unacceptable. In the former case, digital money should quickly establish itself further. Under the latter conditions, acceptance by customers can eventually drop so much that bitcoins have hardly any value and cannot keep up the course of success that is often predicted today .
The market for bitcoin in sports betting is very large and the number of sports betting sites accepting bitcoin as regular currency is growing.
Experts suspect that 50 to 60 percent of all Bitcoin transactions are related to online betting or online gambling.
Among other things, this is due to the fact that Bitcoins represent a good loophole for the gambling market in the USA. Because currently gambling in the USA is only permitted in the states of Delaware, New Jersey and Nevada. In all other states, gambling is considered illegal, including Bitcoin bookmakers . However, due to the anonymity, Bitcoin betting providers for American citizens are now springing up like mushrooms.
The US government cannot actually control Bitcoin transactions, but transfers with other means of payment can. Financial institutions have frozen countless online casino and sports betting accounts in the past, citing the Wire Act 1961. However, since bitcoins are not transferred but paid to websites, there is no danger with the cryptocurrency.
Bitcoin Policy Officer Naomi Brockwell states that Bitcoins have revolutionized the online sports betting market in the US. Because now Americans can bet and gamble freely. Since the transaction is executed in Bitcoins immediately and cannot be reversed, online bookmakers also benefit. Because in the past there have been increasing problems with fraudulent chargebacks.
reading: Find out everything about “ Bitcoin bonus for sports betting ” here!
At this point we would like to summarize some important behavioral recommendations when dealing with Bitcoin.
You should pay attention to the following points if you want to place Bitcoin sports bets.
Anonymity : If you only pay with Bitcoin, you can remain completely anonymous with some bookies . All you have to do is provide an email address. Of course, this has certain advantages, but on the other hand, with this anonymity, you also forego certain minimum standards and adequate regulation of corresponding offers. You should therefore anonymously deposit only as much as you really need for your respective stake at a bookmaker. If no money is parked with such Bitcoin betting providers, you significantly minimize the risk of fraud.
inputs multiple times check : Once a payment has been initiated, it cannot be stopped or even reversed. Before making a transaction, you should therefore make sure that the address of your Bitcoin wallet is correct . Check them again, digit by digit. If a typo creeps in here, it can be extremely annoying, especially with large payouts!
Maximum profitable Bonuses : If you, as a customer, pay into a bookmaker with your credit card, for example, there are various risks for the sports betting provider. He usually books the money immediately, but it may be that your card does not have sufficient funds. In this case, the bookie can undo the process, but this involves a certain amount of effort – especially if a bonus has also been issued and has already been played with. Since the amount goes to the bookmaker immediately with a BTC payment, practically nothing can happen to them. This is one of the reasons why you can often benefit from exorbitant bonuses at Bitcoin sports betting. But always weigh up carefully whether you want to and can play through them.
At the Convert from Bitcoin in real money No more anonymity : The anonymity of cryptocurrency is one of its greatest advantages. However, as soon as you decide to convert profits into real money on a corresponding trading platform, you must provide proof of identity . Here at the latest your activities are – at least partially – comprehensible.
Bitcoin storage and access data : You save your credit either online in a cloud or directly on your computer or a suitable USB stick or memory card. Only you have the specific access data for your respective wallet. This means a lot of security , but also that your bitcoins are irrevocably lost if you forget your log data. This is also the case if, for example, you lose the USB stick on which your bitcoins are stored.
The easiest way to buy bitcoins is on special online marketplaces.
You must first register on one of these bitcoin marketplaces.
After the customer account has been created, verification is carried out. This is usually done using the Post or Video-Ident procedure based on the presentation of your ID card.
You then have to connect your activated account to a common payment method, such as Apple Pay .
You can then immediately buy or sell bitcoins. You have the choice of trading full Bitcoins or shares, such as 0.03 BTC
To start the purchase process, you simply enter the desired amount in the search and can then choose from a variety of offers.
There are also numerous online portals where you can purchase other digital currencies in addition to Bitcoin. One of the best known is undoubtedly Bitstamp.
Bitcoin is a 100 percent virtual currency . Bitcoin transfers work on the peer-to-peer system. This means that the bitcoins are exchanged directly between the payer and the payee. Even when the computer is switched off, transfers reach the recipient.
Transactions are usually almost free of charge, extremely fast (a transfer is usually confirmed after a very short waiting time), but can no longer be revoked.
The technology behind the cryptocurrency Bitcoin is the so-called blockchain , which is also used by Litecoin and NFT is used. All data is stored decentrally via nodes around the globe. This leads to enormous security. Although hackers could theoretically gain access to parts of the system, since all information is never kept in one place, they are practically unable to manipulate it.
The idea behind Bitcoin is very old. However, the cryptocurrency has only been really “suitable for everyday use” and largely established for a few years. Since then, more and more Bitcoin sports bets have been offered and used more and more often because of their many advantages.
One of the biggest advantages of Bitcoin is that the currency is independent of the economic factors of a state or traditional banking systems. The cryptocurrency is inflation -proof and political crises cannot harm online money. On the contrary, as the past few years have shown, they often lead to a price increase.
However, Bitcoin is subject to price fluctuations. These can even reach strong ups and downs within hours. In general , however, the means of payment is considered to be relatively stable and has been on the upswing for several years now .
Since no states or banks are interposed, Bitcoin transactions are not associated with any exchange rate influences. For example, if you now transfer 1 BTC to a friend in Buenos Aires, the transaction will be completed within a few minutes. There is usually only a small transaction fee for the hardware, software and electricity costs. With a conventional bank transfer, a corresponding transfer would take several days and would mean significantly more fees. In addition, you would have to deal with the current exchange rate of the Argentine peso in order to be able to transfer the desired amount.
The cryptocurrency Bitcoin has been a payment method for sports betting providers for a relatively long time, but many players still have no experience with it or have concerns. The general designation as “dubious”, “criminal” or “dangerous” does not do justice to the currency or most of the betting providers who have it in their portfolio:
However, as with any other bookie, you have to be very careful about who you entrust your money to. In addition, there can be disadvantages if the digital currency is handled incorrectly. However , both aspects should no longer be an issue for you if you take our tips into account , so that you can fully enjoy the many advantages that Bitcoin sports betting brings with it and with as little risk as possible.