- Betting Sites
Bitcoin has been a global hot topic in the online betting industry for years now. We're seeing more and more Bitcoin betting sites pop up every single year, which is great news for punters who are cryptocurrency users!
Plenty of top-notch bookmakers accept Bitcoin across the world in places where access to payment methods is more limited, meaning Bitcoin is going places where FIAT currency isn't! Take a look at our hand-picked list of the best Bitcoin betting sites below and dive in!
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You could already spot some advantages that Bitcoin gives you as a payment method for betting sites. However, this section proposes to look deeply into the subject and provide exactly those advantages that make a difference.
These advantages should slowly help Bitcoin overcome this apparent reluctant approach showed by betting sites and convince the entire industry that significant improvements can be reached by implementing cryptocurrency. In the following sections, we will be focusing on what are the advantages Bitcoin brings to the table in its relationship with betting sites.
So, without further ado, here are the main advantages of Bitcoin:
|Advantages of Betting with Bitcoin|
|✅ Anonymity||✅ Security|
|✅ High Limits||✅ Increased Profits|
Betting enthusiasts that use Bitcoin as a deposit method have the extra advantage of not being forced to disclose their details. Not only that, but since the blockchain provides a transparent transaction environment, no type of personal data is needed. It comes handy for those punters that wish to keep their activity for themselves, and that's a feature that can be used to make Bitcoin even more popular than it is now.
Sure, traditional deposit methods have security systems of their own, and they can provide a good level of safety for users. However, it's nothing compared to blockchain security and safety. It's unhackable and thanks to the simultaneous authorisation from multiple computers linked in the blockchain, it's very transparent at the same time.
From the betting perspective, this is a great feature that Bitcoin can guarantee. With all the safety features brought by Bitcoin as well as the ones put in place by the betting sites, you can enjoy your bets with absolutely no worries.
Even though betting sites might limit the amounts you can deposit through traditional payment methods, things change with Bitcoin. Of course, there are limits here as well; However, due to the phenomenal conversion rate, Bitcoin deposits will allow you to deposit a lot more.
Betting sites that accept Bitcoin as a deposit method already have higher deposit limits altogether; however, using cryptocurrency gives you an extra edge.
All right, let's say you had an excellent betting session using Bitcoin and you managed to win three times more than what you initially staked. That's an achievement itself, however, what if you can further increase your profit?
Thanks to the fluctuations in Bitcoin, you can hold on to your winning a while longer before converting them into traditional currency and boost your winnings even more. It's like combining sports betting with iForex and emerging a winner.
All right, so you had a shot at the advantages that Bitcoin brings to the betting scene. However, as with everything else in life, there are downsides as well, and you deserve to know them. As everything proposing a new approach, Bitcoin is also flawed. It's not something huge, considering that the disadvantages mostly come from the fact that Bitcoin is still a new thing in the betting industry.
Perhaps it's better to jump directly to the disadvantages you might encounter when using Bitcoin for betting:
|Disadvantages of using Bitcoin for Online Betting|
|❌ Lack of betting site support|
|❌ Costly exchange fees|
|❌ Lack of Bitcoin ATMs|
One of the main disadvantages that cryptocurrency punters have to endure is the lack of popularity. This limits the reach of a punter that wants to deposit with Bitcoin and can be frustrating on some occasions. Even though it is a reliable deposit method, the reasons why most of the betting sites are not adopting this payment method are still unknown. The fact that Bitcoin is not widely accepted at betting sites comes with a secondary negative effect. The betting sites that do accept Bitcoin can implement abusive rules, taking advantage of the fact that they do provide this specific service.
Another downside of using Bitcoin for sports betting comes in the vital moment of converting it into regular currency. Most of the platform that allows punters to perform this operation have fees that are not always low. Again, since using Bitcoin for day-to-day activities is still considered to be a niche, users might encounter some difficulties. One ray of hope comes from the fact that more and more betting sites, as well as exchange platform, start to surface and competition will bring costs down.
Let's assume that you don't want to convert your Bitcoins into traditional currency straight away and instead keep it as a backup fund. This would mean that you have additional ways of transforming Bitcoin into currency usable everywhere. Moreover, some Bitcoin ATM are being launched to support this movement. However, compared to the traditional ATMs, Bitcoin ATMs are barely present.
Know that you are well aware of the advantages and disadvantages of using Bitcoin for daily placed bets at betting sites, you must be wondering what the exact process of using Bitcoin to deposit is. Well, luckily for you, we have prepared a detailed guide with the necessary steps to successfully deposit with Bitcoin.
The entire process of buying Bitcoins or mining them is far too elaborate to cover in this review. There is an extensive database of articles on the Internet on how you can get Bitcoin. Instead, we will be focusing on the steps needed to use Bitcoin at betting sites through a wallet.
Being backed but the revolutionary Blockchain system, Bitcoin deposits and withdrawals represent the future of transactions. It's just a matter of time until this method increased in popularity and will become something that is used by punters daily. Compared with other deposit methods, the time, limits and fees applied to Bitcoin are very competitive. Below, you have some real examples from betting sites that are accepting this payment method.
|Betting Site||Deposit Speed||Fee||Limits MIN/MAX|
|Instant||N/A||€/$1 - No Limit|
|Instant||N/A||€/$1 - No Limit|
|Instant||N/A||€/$15 - €/$10,000|
As you already noticed, the Bitcoin wallet has a dedicated app for mobile users. This means that if you're doing most of your sports betting from a mobile device, it's extremely easy to deposit Bitcoin on mobile. A dedicated system guarantees ease of access and speed in Bitcoin transactions since both Bitcoin and modern betting sites are aware that the future lies in mobile customers.
When talking about alternatives to Bitcoin, we have two separate discussions. First of all, you have all the traditional deposit methods as alternatives. Then, if we're talking cryptocurrency, you have an entire set of new cryptocurrencies such as Ethereum, LiteCoin or Dash.
If you think about conventional deposit methods as alternatives for Bitcoin, then clearly you must take a look at e-wallets such as:
Offering instant deposits and withdrawals with no fees, these e-wallets are healthy competition for Bitcoin. Skrill and Neteller win extra points here because both allow the upload of funds through Bitcoin.
With the success Bitcoin enjoyed over the years, it was only natural that other cryptocurrencies were developed. There are thousands of new cryptocurrencies on the market each week. However, the ones that managed to make a name for themselves are:
Each one of these cryptocurrencies tries to challenge the supremacy of Bitcoin. Unfortunately, these have a long way to go if they want to match Bitcoin's market share. However, due to the high cost of a Bitcoin, you can look into these new rising cryptocurrencies for cheaper alternatives.
Whether you've been using Bitcoin since the noughties or are new to the world of cryptocurrencies, it's clear that there's plenty of potential in this alternative to FIAT currencies. At the time of writing, not every top bookmaker accepts Bitcoin payments; and some of the betting sites that do accept Bitcoin are unlicensed and unregulated.
This is why we recommend sticking to our list of the top betting sites that accept Bitcoin featured above. Each betting site on Sportsbetting24 goes through an intense, detailed, and unbiased review process. This means that when choosing a bookie from above, you don't need to worry about your safety or security and can just enjoy the online sports betting experience.