How to bet using Bitcoin
Bitcoin can be used at a number of online betting sites, as can many other crypto payment options.
Depositing in BTC is quick and straightforward. All you need to do is follow these steps at your Bitcoin betting site of choice:
- Log in to your betting account (if you’re yet to open an account, the tables on this page and our guides to Bitcoin betting sites can help you to quickly find a BTC bookmaker)
- Go to the Banking or Deposit page and select Bitcoin (BTC) as your preferred payment method.
- Next, go to your Bitcoin wallet (such as Coinbase) and tap the ‘send/request’ button
- Select the cryptocurrency you wish to use to send money, then enter the recipient’s address (this will be the address provided by the betting site when you selected BTC as your payment method)
- Type in amount you would like to deposit, then click on ‘Send Funds’
That’s it! The transaction is instant, so as soon as you seen the confirmation screen, the money will be available in your betting account and you can start placing your bets.
The process with withdrawals is very similar, but instead of using Coinbase (or any other crypto wallet) to transfer to a betting site, you use it to request a withdrawal from your Bitcoin betting site of choice.
On this page you’ll find details of Bitcoin betting sites as well as the bookmakers accepting other cryptocurrencies.
Why bet with Bitcoin?
Bitcoin and crypto in general is becoming more and more mainstream, and as a growing number of services and merchants start to accept BTC, so to do online betting sites.
Some bookmakers allow you to use Bitcoin for deposits and withdrawals to and from your betting accounts, plus you can also use BTC to quickly transfer money to other account holders as well, should you need to do so.
There are a number of advantages to using Bitcoin for online betting. Firstly, it offers more privacy, and there is no personal information attached to your crypto wallet.
As crypto transactions do not require personal information, using Bitcoin for online betting - and online purchases in general - protect you from being at risk of identity theft.
Betting with BC is also quick, partly because transactions are much faster than traditional banking methods, which in turn means any withdrawals (winnings) are paid out quickly.
In addition, as Bitcoin betting is currency non-specific, it allows some sports bettors to try out some new online sportsbooks that would otherwise be inaccessible.
Of course, there are some disadvantages to Bitcoin betting as well, the main one being availability. The number of BTC betting sites remains quite limited, but this will improve over time, and new betting sites are regularly opening, including sportsbooks where you can only deposit using crypto.
Rules and regulations surrounding Bitcoin may complicate matters for online betting in some countries, and crypto can be more complicated than some other payment methods for online betting, but if you want to bet using BTC, once you’ve created a ‘Bitcoin wallet’ and know what you’re doing with it, linking it to an online betting site accepting crypto is straightforward enough.
If you’re unable to find a Bitcoin betting site or an online bookmaker accepting other cryptocurrencies, on this page you’ll find details of all available betting payment methods
in your country.