If you’re new to crypto betting sites, then this guide will take you through all you need to know so that you can safely start with crypto betting today. You can also find a list of our recommended crypto sports betting sites that have been thoroughly tested to ensure you enjoy the best bitcoin sports betting experience.
Crypto Betting Benefits
BTC betting sites are like traditional sports betting pages in a lot of ways. However, rather than relying on debit cards, e-wallets, and bank transfers, cryptocurrencies will be the primary way to conduct transactions on these platforms. So in many ways they are similar to crypto casinos, with the difference that they also offer betting with cryptocurrency.
While some crypto betting sites will also offer those traditional payment methods, the purist platforms will be crypto-only.
There are a lot of reasons why more and more people are making the transition to using crypto gambling sites. However, there will also be some drawbacks that you will need to keep in mind when deciding what’s best for you.
Many different factors separate the best crypto betting sites from mediocre ones. To find the best fit for your needs, all areas must be looked at to make the best decisions possible.
Here are some of the core areas of focus our expert review team keeps in mind when recommending you cryptocurrency betting sites:
One of the first areas to look at will be to see if the platform holds a license or not. A lot of the top-ranked sites will have licenses with some regulatory body, such as the government of Curaçao or the Malta Gaming Authority.
Due to the nature of bitcoin gambling platforms, some sites don’t want to be curtailed by excessive oversight, which is why operators will go for those regulators that don’t have many or any restrictions on licensees.
Another key area of focus will be making sure that the operator protects any sensitive types of information that you share with them. This is usually done through the deployment of encryption technology.
There are tons of different crypto betting sites out there today. Some of them are most certainly better than others. It is always a good idea to see what sort of reputation a platform has with real bettors. This allows you to get a true insight into what the experience might be like if you sign up.
You can get a feel for the reputation of a platform by looking on social media and forums. We have created reviews for you on this page to help you see if any major flags crop up consistently over time regarding a given operator.
There are different types of btc betting sites. Some will be very pure and only offer crypto-based payment options. Others will also offer traditional types of transaction methods like e-wallets, debit cards, and so on. It is important to check to see what the exact options are in this regard.
You might have certain cryptocurrencies such as Ethereum, Litecoin, or BTC you want to use, so you need to make sure that a given site supports that token. Another key area to check is the transaction times, as some platforms can take a long time to approve transaction requests.
There should be a wide range of sports available to bet on at a bitcoin gambling site. This is especially important if there are only certain types of sports that you focus on.
If you’re a fan of football bitcoin betting, you might be only interested in the bigger events that take place. Alternatively, there might be a smaller or more niche sporting event you want to wager on, so a site with a diverse catalog will be important to you. This also will go for live betting markets, as well as pre-game betting.
Bettors want to have access to a great range of different bet types, as this allows them to adapt their betting to the given circumstances. The more betting markets you have open to you, the better you can tailor your wagers. Only the sites with the most competitive odds end up on our recommended list of Bitcoin betting sites.
You also want to be sure that it will be possible to place bets that fit into your staking preferences. This could mean that you can place very small bets or significantly sized wagers.
All bitcoin betting sites will have welcome offers available. These will often be some sort of free bet deal. It is important to not only look at the offer on a surface level, but you also need to consider the terms of the deal so you can figure out just how good it is.
Another area to look at is the range of promotions that will be on offer for people who are already signed up for an account. These can range widely from cashback deals to reload bonuses and boosted odds.
Finally, VIP and loyalty programs are a great incentive that the best BTC betting sites can offer their players. These points can lead to unique bonuses, cashback deals, real-life prizes, and more!
You’ll want to look to see what gambling restrictions might apply to the country you’re betting from and if the site will accept you as a customer. Most crypto betting sites will be accessible in a huge range of countries, often containing a small list of exceptions and exclusions.
If you ever experience an issue when using a crypto betting site, you’ll want to be confident that there can be a quick resolution. Therefore, you want there to be plenty of useful information pages and a strong FAQ section.
There also needs to be a look at the contact options if you need to reach the support team. You’ll often see live chat and email being the main options, with some sites also having a telephone option. Additionally, having access to a support staff that can communicate in several languages to handle an international clientele is a sign of a top crypto betting site.
If you’re ready to get started with Bitcoin betting, then you’ve come to the right place. You’ll learn everything about getting started with a Bitcoin betting site and how to place your first bet. This will dispel some of the misconceptions that you might have about this type of betting, showcasing just how easy it is to begin.
How you sign up for an account will generally be the same no matter what platform you are looking to use. While there will usually be some subtle differences, you should have little to no difficulty in beginning your crypto betting journey. Here’s a quick step by step look at what you must do:
1. Choose a Crypto Betting Site
First, you will have to choose a crypto betting site to sign up to. There are some great options outlined on this page. Figure out what matters the most to you when it comes to sports betting and then choose one of the platforms that most closely fits these needs.
Step 2: Create Your Account
Now that you have chosen the crypto betting site you are signing up for, you need to visit the website. Start the account registration process. Usually, you will need to provide contact information, personal details, as well as decide on a username and password. Once you agree to the site’s terms and conditions, you can submit the form.
Step 3: Deposit Funds
As your new account is up and running, you’ll need to add some funds. Go to the deposit section to see what options are on offer. If you are going to deposit via cryptocurrency, you need to choose your preferred token.
Then you’ll be given a wallet address to which you need to send your funds. You send the payment just like you would send funds to any other type of crypto wallet.
Step 4: Start Betting
As soon as the funds hit your account, you can start placing bets. Simply go to the sports betting section and look for your favorite sport. Once you find a bet that fits your eye, just click on the odds and it will get added to your betslip. Then decide on your stake and confirm the bet. It’s as easy as that.
If you want to start with placing real money bets after setting up your new crypto sports betting account, then there are just a few steps that you must follow. Then you can begin putting your money to work. Here are those key steps:
If you’ve managed to have some winning bets and want to cash out some funds, then the process is very similar to how you would deposit funds, only in reverse. Here are the main steps involved in the withdrawal process:
The exact speed of withdrawals depends on the betting site. Some platforms will have to confirm a withdrawal request before the funds leave your account. For others, there will not be any such approval process. Once a withdrawal has gotten the all-clear, the funds should reach the destination wallet in a matter of minutes.
If you do not already have some crypto funds to your name, you’ll need to get some before you can start using a crypto betting site. To do so, you’ll need to find an appropriate exchange. This will need to be a fiat-to-crypto exchange that allows you to exchange fiat currency for your preferred cryptocurrency.
For people who are completely new to the crypto space, you should go with one of the more user-friendly and reliable options like Coinbase. If you have more experience, then you’ll likely want to find an option that has a bit more depth to it.
You should make sure that you find an exchange that has an ideal fee structure, is easy to use, quick to sign up to and supports the types of cryptocurrencies that you want to use.
Crypto betting sites are most certainly safe to use. Once you are using a platform that has a good reputation, you’ll have no issues whatsoever.
Every leading crypto betting site will have tons of security features in place this means that your funds will be kept safe, while any personal information that you share will be completely encrypted. You also have the great level of security that comes with conducting transactions through cryptocurrencies, which will give you even more peace of mind.
While in the past only a small number of people were aware of the merits of using cryptocurrencies, there are now a lot more people educated on the matter. The likes of Bitcoin have entered the mainstream in recent times. Many of the very established online gambling platforms across the world now offer cryptocurrency payment options.
Crypto betting sites tend to be widely accessible across the world. Generally, people in most countries will be able to access them whether they can do so as normal or by using a VPN. To figure out if you can legally use crypto betting sites, you’ll need to see what the rules are for your specific country and the terms & conditions of the Bitcoin gambling site you wish to use before proceeding.
There will be certain countries where you don’t have to pay any tax on your gambling winnings, while others will have a requirement in place that you must give a certain amount of your returns back to the state.
That is why you must make sure that you are familiar with the exact taxation laws in your region. Otherwise, you might run into some issues if you mistakenly think that you have absolutely no taxes to pay on your gambling winnings.