Learn How to Bet on Sports with Bitcoin
Bitcoin sports betting is becoming increasingly popular as time goes by, but not many people know much about it or whether it’s better to bet on sports with bitcoin or with regular cash. We’ll explore the benefits of bitcoin sports betting in this article, as well as where you can play the game and how you can do it!
How to Bet in Sports with Bitcoin
Gambling with bitcoin is quite easy. In fact, the most difficult part of the process might be to find a bitcoin sportsbook that you like! We’ll guide you through some of our favorite bitcoin sportsbooks in a few, but let’s take a closer look at the steps you need to follow to gamble with bitcoins:
- Look for a casino with a bitcoin sportsbook
- Create your account
- Make a deposit with the site’s cashier
- Make a bet and win!
The most important part of bitcoin gambling is to find a casino that you can trust, so you can rest assured that your money will be in safe hands. It’s almost impossible to get your bitcoin stolen from you directly from your wallet, but a fake casino could easily trick you into making a deposit that can’t be reversed. You can learn all of this and more with out full bitcoin gambling guide.
The Popularity of Bitcoin Sports Gambling
Bitcoin gambling, in general, has seen a massive growth since the mid-2010s (the bubble started bursting circa 2016), and it’s easy to understand why if you take a closer look at the way bitcoin has increased its value in the past few years.
Not only did people that had bitcoin in the past went on to spend a lot of them in the first bitcoin casinos that came to be, but the constant (yet sometimes slow) rise of the bitcoin price makes it very appealing for people to try their luck in a bitcoin gambling environment.
Sports gambling wasn’t the first type of bitcoin gambling to come to prominence, and many modern world-class bitcoin casinos still lack the presence of sportsbooks. However, those that have them tend to offer incredible bonuses that cannot be missed, which is why so many people opt to play in them rather than in regular sportsbooks.
What to Consider when Betting with Bitcoin
There are many reasons why online gamblers are opting to gamble with bitcoins and moving away from traditional currency to this new betting phenomenon. There are 4 main things that you’ll need to take into account before you spend your cash in a bitcoin casino:
The Site’s Reputation
Bitcoin transactions are irreversible, which means that you won’t be able to make any chargebacks if you happen to make a payment on an untrustworthy website. Never make bitcoin deposits on sites that don’t hold a good reputation, which can be determined by looking at the site’s licenses.
Available Bets & Sports
Sportsbooks are not all the same. You’ll come across many sportsbooks that don’t offer many of the world’s most lucrative bets, like player-specific bets in basketball or statistical bets in football.
As such, you’ll want to make sure that your online bitcoin sportsbook of choice allows you to bet on the best sports with bitcoin and actually make good use of your money by allowing you to place different bets and not just the same classic ones like winners, losers, or total scoreline.
Technically speaking, bitcoin payments are processed in an instant. That’s why so many people opt to play with bitcoin instead of regular cash. Some online casinos process payments quickly but your bank or credit card company can take days to process the payment, which is what truly delays the payment process of some casinos.
Bitcoin Sportsbook Bonuses
The best bitcoin sportsbook bonuses can be extremely lucrative, albeit a tad difficult to find. The casinos that we have listed on this page are all among the best bitcoin sites and they come packed with fantastic bitcoin bonuses, but not many will allow you to use them for bitcoin sports betting. Make sure you select a bitcoin sportsbook with great bonuses and maximize your iGaming bitcoin experience!
The Best Casinos for Bitcoin Sports Betting
There are many fantastic casinos in which you can spend your money playing bitcoin games, but few offer the chance for you to pay a visit to a sportsbook in which you can bet with bitcoin. Many modern bitcoin casino owners are incorporating sportsbooks into their sites, but you’ll do well to find a trustworthy casino in which you can gamble your money.
We recommend you pay a visit to sites with sportsbooks, but always check the site’s licenses. You’ll want to gamble in a sportsbook that has either the Curacao, Malta, or United Kingdom gambling license to ensure that your money will be resting in safe hands.
Bitcoin Sports Betting FAQ
Still unsure about whether you should gamble with bitcoin or not? Don’t worry! Here are the answers to some of the most asked questions regarding bitcoin gambling on the internet:
Is it safe to gamble with bitcoin?
Bitcoin gambling is safe provided that you’re gambling in a trustworthy casino. It’s the casino that makes the gambling unsafe, not the use of bitcoin per se.
What sports can I bet with bitcoin?
You can bet on any sport that you can find in most modern sportsbooks. Bitcoin sportsbooks work like any regular sportsbook but you’ll be paying with bitcoin instead of regular cash.
Is bitcoin sports betting legal?
As long as you live in a country where gambling and the use of bitcoin are both legal practices, bitcoin sports betting should be legal as well.
Can I play with cryptos other than bitcoin?
Most bitcoin casinos serve as cryptocurrency gambling hubs where you can pay and withdraw bitcoin, Litecoin, Ethereum, Dogecoin, and other popular cryptocurrencies.
Do I have to pay taxes on bitcoin gambling winnings?
You don’t really have to pay taxes on bitcoin winnings unless you convert your bitcoin into your country’s currency, in which case you’ll need to do it.
Do bitcoin casinos offer chargebacks?
The casino might give you an option to get your money back in the form of a cashback bonus, but you cannot manually reverse a bitcoin transaction.
Wager with Bitcoins and Test Your Knowledge to Win
Now that you know all the basics of bitcoin sports betting and how to win more money when betting with bitcoins, it’s time for you to choose a casino to visit and start smartly gambling your cryptos. Choose the sports in which you have the most know-how and make the best of your iGaming experience by testing your sports knowledge in the best bitcoins sports betting casinos!