Bitcoin, a decentralized digital money, has completely altered the way people buy and sell things online. It eliminates middlemen, like banks, and enables low-cost and secure transfers. There has been a meteoric rise in online sportsbooks accepting Bitcoin as payment since its inception.
The Best Sites to Bet on Sports with Bitcoin
Some betting sites that accept Bitcoin are listed below.
1xBet
Fans of sports who wish to enjoy the fun of betting on their beloved games can find a sanctuary at 1xBet, which covers more than 60,000 events monthly. Any sports enthusiast can find what they’re looking for at 1xBet. You can increase your chances of winning large by making use of the betting site’s numerous features such as Cashout and Bet Builder.
What truly differentiates 1xBet from the others, though, are the many available payment methods. Visa, Mastercard, and Neteller are just a few of the e-wallets and credit card processing options it accepts. To top it all off, 1xBet is among the bookmakers that take Bitcoin and other cryptocurrencies.
Betfinal
The Cyprus-based bookmaker Betfinal first opened its virtual doors to the public in 2013. 10 years of offering a first-rate platform to gamblers. Live betting, live streaming, a virtual sportsbook, and several offers and bonuses will make your time.
Betfinal offers odds on more than 40 other sports, ranging from the most popular, like basketball, to the most obscure, like Gaelic football. For your ease, Betfinal has taken a few different payment options for deposits and withdrawals. These include ecoPayz, Bitcoin, Visa, and Mastercard.
Melbet
Melbet is a well-respected Bitcoin sports betting platform situated in Curacao. It was created in 2012. Sports like football and cricket are only a few of the many available at Melbet. Melbet has a mobile app for bettors who are always on the move, in addition to accepting bets on a desktop.
If you’re looking for more than just sports betting, Melbet has you covered with great promotions like a 100% welcome bonus up to $200. Visa and Mastercard are accepted as forms of payment. In addition, Melbet supports anonymous cryptocurrency transactions through Bitcoin and similar platforms.
Betwinner
With over 400,000 existing players, Betwinner is rather young for a betting site. Why has it gained so many fans? With over 40 different markets and a plethora of live and pre-match events to select from, Betwinner offers a comprehensive array of betting choices.
Betwinner provides several betting markets, including Asian Handicap and Match Winner. In addition, the site offers markets for football, greyhound racing, golf, baseball, ice hockey, cricket, Formula One, and basketball, among other major sports. Payment options include Bitcoin, Yandex, and Qiwi.
Benefits of making Sports Betting Transactions with Bitcoin
There’s a good reason why a lot of betting sites have started accepting Bitcoin. The integration of this coin into their systems must have many benefits. A couple of these benefits will be discussed now.
- Fast Transactions: The processing time for the majority of payment types is typically several days. The Bitcoin withdrawal process is lightning fast, taking only minutes, making it a fantastic choice.
- Decentralized: There is no central bank, government, or other entity that controls or is linked with Bitcoin. Thus, you can engage in risk-free trades without being concerned about the safety of your funds, even in the event of an economic downturn.
- No Transaction Fees: Because there are no middlemen involved in Bitcoin transactions, the transaction costs are already low. When you exchange Bitcoin for fiat money, that’s where you’ll only find fees.
- Security: You can avoid fraud and identity theft using Bitcoin because it doesn’t ask for any personal information. Another relief is that chargebacks are not an issue because once a transaction is recorded, it cannot be changed or undone.
Bitcoin Comparison With Other Payment Methods Used in Sports Betting
Bitcoin has quickly become a preferred payment option in the sports betting sector, thanks to its distinctive qualities. How does it compare to similar products? That is the main question.
Unlike other payment options, Bitcoin transactions are quick, typically processed within 30 minutes. For example, if you want to withdraw money from a betting site using an e-wallet, you’ll have to wait one to three days for the funds to show up in your account. If you pay with a credit card, the process can take up to seven days.
There are sometimes hefty costs associated with foreign transfers when using most sports betting payment methods, e-wallets like Neteller. However, the fees associated with Bitcoin transactions, especially those involving conversion to fiat currencies, are usually far lower.
In addition, compared to other payment methods, particularly more conventional ones, Bitcoin offers superior anonymity. With Bitcoin transactions, you simply need your address, rather than sharing your personal information like you would with card payments or e-wallets. This means that your privacy and security are better protected.
Bitcoin Betting Account Creation Step-by-Step Guide
Using Bitcoin for transactions has many advantages, as we’ve shown above. You will need to create a Bitcoin account before you can use Bitcoin sports betting sites. Following this tutorial will get you set up with a Bitcoin account and betting on sports has never been easier.
- Create an account: First, sign up for an account with a Bitcoin provider. Usually, this includes confirming your identification and supplying certain personal details.
- Pick a trustworthy wallet provider: To protect yourself from scams, you should only use Bitcoin wallet providers you can trust. Consider Trezor, and Coinbase, three of the most well-known options.
- Add Bitcoin to your wallet: You can simply deposit the Bitcoin that you purchased from an exchange or a person into the account that you established.
How to Use Bitcoin in Sports Betting Sites
The final step in utilizing Bitcoin for sports betting is creating an account. This is how it is done.
- Sign up: A casino that takes Bitcoin? How cool is that? Great, so now we go to the registration process. It’s as simple as filling out the usual forms on any other website you’ve signed up for.
- Go to the deposit section: You can deposit it into your sports betting account after you’ve created it.
- Bitcoin sports betting site: You should be careful to choose a betting site that accepts Bitcoin since not all of them will.
- Copy the sports betting site’s Bitcoin address: The sports betting service will provide you with a unique Bitcoin address on the deposit page. Make sure you copy it.
- Sending The Bitcoin: Simply send the Bitcoin you possess to the address provided by the sports betting service, and you will be good to go.
- Choose Bitcoin and enter an amount: Select Bitcoin as your deposit method and input the desired deposit amount on the deposit screen.
- Wait for confirmation: You should wait for confirmation of your Bitcoin transaction, which can take a few minutes, before placing your bets.
FAQs
Given the novelty of Bitcoin sports betting transactions, many are curious about what they entail. A few of the more popular ones, along with our responses, are included below.
Can I use Bitcoin to wager on sports without worry?
There are very few instances of fraud or identity theft involving Bitcoin because users often do not need to give any personal information. In addition, outside parties cannot change a documented transaction, therefore chargebacks are not an issue.
What are the benefits of placing sports bets using Bitcoin?
Faster transactions, reduced costs, and more privacy and security are just a few of the benefits of using Bitcoin for sports betting.
How can I find Bitcoin?
There are a few ways to get your hands on Bitcoin: mining, which may be a difficult process; buying it from a cryptocurrency exchange; or receiving it as payment for a service you provided to someone else.