Bitcoin sports betting is revolutionizing how online sportsbooks provide their services. The online gambling industry is always looking to capitalize on the latest technology to provide more suitable solutions for gamblers. Bitcoin is one of the technologies that is making waves in the sector. Although the cryptocurrency is not novel, it is affecting different industries at varying pace. It’s 2020, and online sports betting is only starting to embrace Bitcoin gambling fully.
Top Bitcoin Betting Sites for 2023
For this reason, gamblers won’t find a lot of bookmakers accepting cryptocurrency. However, it’s not to say that you won’t enjoy a decent variety. This guide explores some of the best Bitcoin platforms. Apart from that, novices in bitcoin sports betting can learn a few basics before looking up cryptocurrency gambling sites.
What is Bitcoin Sports Betting and How it Works
If you are new to online sports betting, then you might be wondering what Bitcoin gambling is all about. Even punters who have been gambling for a while might not grasp the concept fully. Whatever your situation, you should learn the fundamentals of using Bitcoin for sports betting. So, how does Bitcoin sports betting works? Bitcoin betting is not that much different from regular sports betting. Instead of using fiat (standard) currency, Bitcoin sportsbooks use cryptocurrency.
Digital coins don’t function the same way as fiat currency. Firstly, the currency is decentralized, which means that users don’t have to deal with a third party when authorizing transactions. Secondly, punters don’t need to provide any sensitive financial data like credit card information when playing at a betting site. A Bitcoin sportsbook only requires you to submit your Bitcoin wallet address.
First, you have to buy Bitcoin from a cryptocurrency exchange platform to start cryptocurrency sports betting. Find a reputable exchange, then open a Bitcoin wallet so that you can buy the digital coins you need using credit cards or virtual wallets. Note that whereas fiat currency trades in two decimal places, Bitcoin (BTC) trades in 12.
For this reason, you can make Bitcoin deposits in extremely small amounts. However, Bitcoin sportsbooks have minimum and maximum limits. Although Bitcoin betting is growing in popularity, it’s not the only digital coin that you can use at Bitcoin bookmakers. Some Bitcoin betting sites support alternative coins (altcoins), such as Litecoin, Dogecoin, Ripple, Ethereum, and Tether.
How We Review Bitcoin Sports Betting Sites
Learning about Bitcoin betting is a start, but knowing how to pick the best Bitcoin platform is just as crucial. Hence, we take the time to compile a list of top Bitcoin sportsbooks for punters to consider. Why should you trust our recommendations, though? Because we evaluate each Bitcoin sportsbook meticulously.
Punters have different needs, and that means that the perfect bookmaker is different for everyone. However, some elements are basic when it comes to reviewing the best Bitcoin websites. Our reviewers look at these factors when testing a Bitcoin bookmaker to ensure that it meets our strict standards. Below are some of our sportsbook review parameters:
Reputability of the Bookmaker
Several aspects affect the reputation of a Bitcoin sportsbook like the fairness of the markets, promotional terms, and the treatment of customers. Consequently, during our review, we check all these and more. We look at a site’s history to see if it has any significant problems. Our reviewers scour the web for customer complaints and other red flags. The best Bitcoin sportsbook should guarantee that punters can bet without worry. All the Bitcoin betting sites listed here are licensed and registered and so, bettors can be sure of their legitimacy.
Bitcoin Betting Bonuses
An advantage of playing at an online sportsbook is that you can expect various bonus offerings because that is how operators attract customers to Bitcoin sports betting. Bitcoin betting websites offer enticing promotions for different kinds of users. You will find that most bonuses at Bitcoin sportsbooks are the same as in traditional sites. Some examples are Acca bonuses, odds boosts, and cashback deals. For our reviews, we consider the frequency of Bitcoin sports bonuses. Are they available daily, weekly, or monthly? We also check the terms of the betting sites to ensure that they are favorable to punters.
How many Bitcoin sports does a bookmaker offer? The best Bitcoin operator should have a wide variety of sports markets. Most Bitcoin betting sites will have popular options, such as football, basketball, and tennis. Therefore, sports betting websites with rare offerings have an advantage. We consider the extent of the coverage too. What types of events does a Bitcoin sportsbook cover? Our reviews also check the selection of markets available to bet with Bitcoin.
Deposits and Withdrawals
Although some betting sites accept only Bitcoin, others support alternative currencies as well. BTC might be the most popular digital currency but is not available to everyone. Some punters might prefer to bet with altcoins. Our analyses consider the other deposit and withdrawal options available for gamblers. When reviewing Bitcoin sportsbooks, we include the minimum and maximum limits. Usually, they are higher compared to those offered by fiat currency betting sites.
Variety of Sports and Leagues to bet on with Bitcoin
The alternatives available for Bitcoin gaming matter a great deal when choosing a sportsbook. Cryptocurrency sports betting websites don’t differ from regular ones when it comes to sports coverage. Punters can expect comprehensive sports selections; it all comes down to a specific betting site. Whether you get to bet on popular alternatives like football, basketball, and tennis or less-known sports like futsal depends on the gambling website. Besides different Bitcoin sports, betting sites also cover individual leagues. Bettors can wager on local, regional, and international competitions on various betting sites. Below are some examples.
All crypto betting sites offer football because it is the most popular sport. It has millions of followers globally, and that makes it a highly lucrative betting market. The best Bitcoin sites cover the most prestigious leagues in the world, for example, the English Premier League. Other top leagues that receive coverage include Spain’s La Liga, Italy’s Serie A, France’s Ligue1, and Germany’s Bundesliga. Small leagues like the Swiss Super League, Danish Superliga, and Ukrainian Premier League are also available on betting sites.
Only second to football in popularity, basketball is just as lucrative when it comes to sports betting. Although the sport doesn’t offer as many leagues like football, it has excellent alternatives. The NBA is the biggest basketball league in the world, and the best Bitcoin gambling sites will cover it extensively. Basketball betting enthusiasts can also put their money on other leagues around the globe like EuroLeague, FIBA Europe Cup, and Philippines Basketball Association.
Do you like betting on tennis tournaments? Then top bitcoin sports betting platforms make this easy. Tennis is a popular sport with some of the most prestigious events on the sports calendar. You can wager on the four Grand Slam tournaments, namely: Wimbledon, Australian Open, French Open, and US Open. A Bitcoin sportsbook can also offer odds for professional tournaments, such as the ATP and WTA Finals.
Although American football is specific to the continent, it still has a decent following and is available at most online betting sites. A Bitcoin sportsbook that covers the sport will have odds for the NFL, which is the most popular football league. Punters can also bet on college football. The best Bitcoin websites cover the Super Bowl, the NFL’s championship game.
Cricket has a global reach and significant popularity, especially in the UK and south-east Asia. The ICC Cricket World Cup is the most coveted tournament, so any Bitcoin sportsbook worth anything will offer it. Another major tournament is the Ashes Series where England and Australia fight for supremacy. Other cricket markets that you can wager on with digital currency include the Indian Premier League, Asia Series, Commonwealth Bank Series, Border-Gavaskar Trophy and T20 World Cup.
Other Popular Sports
Besides the above sports, an array of other options are available for Bitcoin sports betting. These alternatives vary from one bookmaker to the next. Therefore, if you prefer to bet on a specific sport like Formula One, you have to find a Bitcoin sportsbook that provides it. Some of the other sports that you can expect to find at Bitcoin gambling sites are golf, boxing, MMA, baseball, volleyball, hockey and handball.
Types of Bets That Can Be Made Using Bitcoin
If you are learning about Bitcoin sports betting, you need to know the different kinds of bets available to punters. As with fiat bookmakers, the bets available vary across Bitcoin sportsbooks. While the Bitcoin betting options can be numerous, there a few common types that every punter should be aware of, such as:
Also called live bets, in-play bets occur when a market is already in play. For example, if it’s a football match, you can stake on your preferred selection during the gameplay. With live betting, punters have the choice to alter their bets mid-event. However, not every betting site offers in-play betting, so gamblers should check a site’s offerings.
If you are searching for the most straightforward selection when betting with Bitcoin, then moneyline is it. In this market, you bet on the outright winner of an event. If it’s a boxing match, you put money on the boxer who you think will win. Bitcoin betting sites present moneyline bets as fractions, decimals or American odds.
Cryptocurrency betting platforms offer point spreads where a specific side has to win or lose by a certain margin. Sportsbooks use this type of bet to even the odds between two unbalanced teams. Point spreading is not available for every sport.
When betting with Bitcoin, you can opt to combine two or more different bets into one, which is what parlay betting is all about. The point of parlay wagering is to boost your chances of winning. A majority of Bitcoin sportsbooks require parlay bets to contain at least three selections.
Top Sports betting sites for 2020
Bitcoin betting has come a long way, and the current market has a decent choice of options. Picking the best Bitcoin platform requires as much attention as a regular betting site. Punters have two options to consider. One is the exclusive kind, which is the cryptocurrency gambling website where customers can only bet with BTC or other digital coins. The other is the hybrid bookmaker that accepts both digital and fiat currency. Your gambling needs should guide you towards the most suitable alternative. Below are quick reviews of top Bitcoin sports betting sites.
Considered the premier Bitcoin betting operator, Cloudbet launched in 2013. Since then, the website has increased its sports betting offerings to cover some of the biggest events on the market. Apart from sports, the sportsbook covers several esports markets. Cloudbet has unbeatable odds and an array of bonuses, including a signup offer of up to 5 BTC. Customers enjoy some of the highest BTC betting limits and excellent cashout speeds. Besides Bitcoin, punters can use other digital currencies, including Ethereum, Bitcoin Cash and USDT. If you want a Bitcoin sportsbook with extensive market coverage and attractive promotions, then turn to Cloudbet.
This bookmaker sells itself on reputability and market coverage. 22Bet is among the top bitcoin sports betting operators in the world. Providing the option to gamble with cryptocurrency only increased the popularity of the gambling site. Presently, customers can transact with over 100 different fiat currencies and 20 digital coins, such as Dogecoin, Litecoin, and Ethereum. However, bonuses are available in conventional currency. Currently, it offers up to €122 plus 22 bet points as a welcome package. 22Bet covers thousands of live events monthly and provides a long list of sports in which you bet. It also boasts excellent iOS and Android apps.
Whether you like betting on Formula One, cricket, or darts, you can find most sports at Sportsbet.io. The bitcoin sports betting platform covers a broad category of markets. It offers great odds for in-play and pre-match bets. Although the site is relatively young compared to the others on this list, it has decent sports coverage. Sportsbet.io has various sports promotions, including an exclusive offer for downloading the Android app. The site is a hybrid, so you can bet with fiat currency as well. It accepts Bitcoin, Litecoin, Ethereum, and All Sports Coin (SOC).
If you prefer betting sites that only accept Bitcoin, then this is one option. The bookmaker is suitable for seasoned punters who are already familiar with how BTC sports betting works. At the time of writing, Nitrogen Sports didn’t have a welcome bonus or any other promotions, which can be a deal-breaker for some bettors. The sportsbook has decent sports coverage. Punters can wager on everything from horse racing to American football. A huge selling point of Nitrogen Sports is that you can bet anonymously without the need to provide personal information.
The online bookmaker is one of the top hybrid sites available. Customers can bet with Bitcoin and Bitcoin Cash, but fiat currency options are present too. The gambling platform, which was established in 2011, is an appealing alternative because it has a decent racebook. So, if you like horse racing betting, the bookmaker doesn’t disappoint. Punters can also wager on a host of other sports from football to rugby to basketball. Bovada has a generous welcome bonus for 2020 of up to $3750 for a 125% deposit match. The site offers competitive odds for basketball.
Advantages of Bitcoin Betting
What value does betting with Bitcoin provide? If you are going to get into Bitcoin gambling, then you should know the advantages that it offers. When you learn everything about crypto sports betting, you can easily capitalize on its benefits. Because it runs on blockchain technology, digital currency provides unique features, some of which we highlight below:
Bitcoin sports betting offers a high level of anonymity. The way blockchain functions, users don’t have to provide names or other personal information. When funding your Bitcoin gambling account or cashing out, you only have to provide the wallet address. Additionally, due to the decentralization of cryptocurrency, the transaction doesn’t include any third party, and that means more privacy. However, note that some Bitcoin sports websites have KYC requirements that punters must complete during registration.
Since Bitcoin betting platforms are not very common, they try to attract as many punters as possible. Hence, Bitcoin sports platforms have some of the biggest bonuses. If you like having extra funds for your sports betting, then consider Bitcoin betting websites. Some bookmakers offer promotions in BTC and other digital currencies, while others present them in fiat currency amounts.
Fast deposits and withdrawals
A big advantage of cryptocurrency is that they provide extremely fast transactions. Due to the absence of a bank or other third-party services, transactions don’t have to go through long approval processes. Therefore, you can expect excellent speeds with digital currency payments. Deposits are instantaneous while withdrawals can take anything between 30 minutes and 4 hours depending on the currency. You also enjoy low or no-fees depending on the Bitcoin sportsbook. Ensures you check the minimum and maximum limits of a particular Bitcoin sportsbook.
Conclusion – Is Bitcoin the Future of Online Sports Betting?
Online bitcoin sports betting is not what it was ten, or even five years ago. One reason is that technological advances are shifting how the industry works. The growing demand for cryptocurrency has required betting sites to adopt the use of different digital currencies. Now punters can easily find reputable bookmakers that accept cryptocurrency. As people understand how the blockchain works and realize the various benefits of betting with Bitcoin, the sector is bound to grow.
Nonetheless, punters should also be aware of the downsides of gambling with digital coins. The volatility of the currency is the biggest challenge that bettors should consider. All in all, Bitcoin gambling operators still have work to do to match the performance and offerings of traditional sportsbooks.