Bitcoin Betting Sites

Cryptocurrencies like Bitcoin have become a practical alternative currency since their invention in 2009. Gamblers can take advantage of their many benefits through Bitcoin betting sites. There are loads of safe and legal Bitcoin betting sites available, letting you use crypto to bet on everything from casino games to sports.

Of course, Bitcoin isn’t the only type of cryptocurrency. Other options like Ethereum and Litecoin are usually accepted by crypto betting sites. This gives players plenty of crypto payment options. Bitcoin is the most popular, thanks to its status as the first cryptocurrency. Players betting with crypto can now enjoy benefits like fast transactions and tighter security.

Read on as we take a look at how to choose a Bitcoin betting platform and describe how they work. We’ll also explore the unique traits of crypto payments that make them fast and safe.

What Is a Bitcoin Betting Site?

Bitcoin betting sites come in many forms. Online casinos, sportsbooks, and poker operators have all started to accept cryptocurrencies. These platforms are similar to regular gambling sites, although they have implemented technology that lets players deposit, withdraw, and bet using cryptocurrencies. Some sites also offer exclusive bonuses for betting on games with crypto. We have specifically picked out the best Bitcoin sports betting sites.

How Do I Pick a Good Bitcoin Betting Site?

There is a long list of factors that determine whether a Bitcoin real money betting site is worth playing at. Thankfully, a good crypto site shares many traits with trustworthy gambling operators, making it easy to find the right one for you. Here are the most important considerations to check before signing up.

Legality and Safety

When visiting any betting site, the first thing to do is to check if the site is licensed. You can usually find this information at the bottom of the homepage in the footer text. This tells you where the operator is based and which gambling authority regulates the site’s activities. Some of the most recognized regulators include the Malta Gaming Authority and the UK Gambling Commission. These regulators ensure that sites offer a fair experience for players and that their money and data are both safe. Many crypto sites are licensed in various countries. This allows players worldwide to enjoy the advantages of Bitcoin betting.

Safety is also an essential feature and all good Bitcoin betting sites should use industry-standard security systems. Secure Socket Layers (SSL) encryption is the most common feature you’ll find. This technology encrypts transactions between you and the website you’re visiting, making them difficult to intercept. Make sure to check what security options are available before depositing money online.

Cryptocurrencies

While there are many cryptocurrencies out there, not all are accepted by every betting site. Options like Ethereum and Litecoin aren’t as widely used like Bitcoin, so you’ll need to check if your preferred currency is accepted. Some sites accept cryptocurrencies alongside standard payments from national currencies, while others only accept crypto.

Promotions

Bonuses are one of the main draws of any betting site. New players can usually enjoy a huge boost to their account after registering, while regular players can claim a constant stream of rewards. While promotions are a staple of betting operators, crypto sites often offer a wider range of rewards.

These include specific bonuses for playing with cryptocurrencies. Sites that accept various currencies might offer a separate welcome bonus for depositing with Bitcoin or other cryptocurrencies. Players can also earn Bitcoin through various promotions, such as Bitcoin tournaments. Players can sign up for these events and play select games for a chance to win prizes. Free Bets that come as a result of Bitcoin play are an extra bonus that you may find. Before registering, you can visit a site’s promotions page to see what bonuses are available and how much you’ll need to deposit to claim them.

Betting Options

It’s important to check what games and betting options an operator has so you can find one that suits your preferences. Aside from casino games, some platforms that accept crypto also offer sports betting. You can even find dedicated Bitcoin sportsbooks that let you bet on all the most popular sports leagues around the world. Make sure to check the list of betting options before choosing a site if you’re looking for a specific sport or league.

How Does Betting With Bitcoin Work?

Betting with Bitcoin isn’t the same as betting with standard currencies. There are a few extra steps to take before you can start depositing and withdrawing. All Bitcoin bettors need to set up a crypto wallet. This digital wallet lets players store their cryptocurrencies and use them to make transactions. 

Once you have a wallet, you’ll want to visit a cryptocurrency exchange to buy your preferred currency. You can then send it to your wallet for safekeeping. Most sites will make it easy to deposit Bitcoin into your account. From here, you can use your balance to bet on games or sports matches and even claim bonuses by depositing a certain amount.

How Do I Withdraw My Winnings With Bitcoin?

One of the best parts of betting with Bitcoin is that you can withdraw your winnings straight into your Bitcoin wallet. Once you’ve linked your crypto wallet to your favorite betting site, you can send cryptocurrencies both ways. This lets you continue enjoying crypto’s advantages without constantly converting currencies.

The main benefit of withdrawing in Bitcoin or other cryptocurrencies is the speed of the transaction times and the lack of fees. Crypto transactions don’t need to pass through a bank account and operators are also less likely to charge fees. Bitcoin withdrawals are usually paid out in 24 hours, making them a quicker option than most banks. 

Another reason for the popularity of Bitcoin betting sites is the low withdrawal limits. Almost all sites let you withdraw as much as you want per transaction. This gives players more control over their money than standard betting sites that don’t support cryptocurrencies.

How Safe Is Bitcoin Betting?

Thanks to its advanced blockchain technology, players can rest assured that Bitcoin betting is safe. Unlike regular currencies, cryptocurrencies are decentralized, meaning governments don’t control them. This means you can bet with Bitcoin without needing a bank account, keeping sensitive data safe. Since your crypto wallet is based online, your account is entirely anonymous. This means the gambling website can’t store personal data that could be stolen by cybercriminals.

Because of this, crypto sites don’t have KYC (know your customer) processes. These processes require you to provide regular betting sites with personal information. Uploading identification documents could lead to identity theft if the site is compromised.

How Popular Is Bitcoin Betting?

Bitcoin betting has rapidly grown in popularity over the last few years. The gambling industry has plenty to gain from accepting cryptocurrencies. Bitcoin and other cryptocurrencies benefit from anonymity, faster transaction speeds, and safety. This makes them a more attractive choice for betting. As a result, many new crypto sites have become hugely successful.

The value of Bitcoin has doubled since 2017, making the currency a worthy purchase for gamblers. As the price increases, so does the value of potential winnings. As the popularity of cryptocurrency grows, more players will feel comfortable switching to crypto betting sites. This will help create a safe and fun community of players who can trust crypto sites to provide a fast and secure betting platform.

Conclusion

Bitcoin betting is here to stay thanks to the many advantages of cryptocurrencies. From fast transaction speeds to anonymity, many players have already started enjoying the benefits of online crypto gambling. 

Betting with crypto solves many issues with standard sites. These include the need to submit sensitive information and pay high withdrawal fees. With a slew of unique bonuses, games, and betting options, crypto sites combine payment innovations with fan-favorite features of standard sites.

Best of all, anyone can easily get into crypto betting. Crypto wallets and exchanges are easy to set up and use. This lets everyone start buying their favorite cryptocurrency and saving their winnings. With the growing value of Bitcoins, your winnings could even increase in value over time.

Of course, all forms of betting have their risks. It’s important to check that the crypto site you’re interested in is licensed and regulated to prevent scams. Many people also have a limited understanding of how cryptocurrencies work. It’s important for players to do some research about Bitcoin beforehand. Thankfully, much of this information is available online, letting you jump right into the world of Bitcoin betting in no time.

FAQs

Bitcoin, and especially Bitcoin betting, is a brand new concept to many people, considering the technology’s age. Here are a few of the most common questions new players have about cryptocurrency betting sites and how they work.

Which Cryptocurrency Should I Bet With?

Bitcoin is the most popular option, thanks to it being the first cryptocurrency. The advantage of choosing Bitcoin is that almost all crypto betting sites will accept it. Other cryptocurrencies like Litecoin and Ethereum might not be available on every site.

Is Bitcoin Betting Legal?

Yes, betting with Bitcoin and other cryptocurrencies is legal in many countries. Since crypto is a new technology, most countries still haven’t implemented laws to regulate or control cryptocurrencies. This means that, while unregulated, many players from around the world can purchase and spend Bitcoin legally.

Why Should I Bet With Crypto?

Cryptocurrencies like Bitcoin are decentralized, meaning they aren’t backed by governments or banks. This means that players can bet using crypto while remaining anonymous. The lack of regulation also means that you usually don’t need to pay transaction fees when depositing or withdrawing crypto.

What Can I Bet on at Bitcoin Betting Sites?

Bitcoin betting sites come in various types. Online casinos, sportsbooks, and poker sites are all available. Whether you enjoy sports betting or classic casino games, crypto betting sites have something for everyone.

Why Is a Whole Bitcoin So Expensive?

Unlike traditional currencies, you don’t need to buy an entire Bitcoin when getting into crypto betting. The smallest unit of Bitcoin that you can buy is a satoshi. Each Bitcoin is made up of 100 million satoshis. While the high price of Bitcoin can be intimidating, remember that you only have to buy a fraction of a Bitcoin to begin betting.