Bitcoin Betting – The List of Best Sites

Bitcoin is, without exaggeration, the currency of the future, and thanks to it online casinos have also introduced Bitcoin betting as a completely new type of placing bets. Due to its properties, among which the first place is anonymity, it has found wide use in many areas. Sports betting is no exception. In this guide, we will talk about how you can bet on sports in cryptocurrency, as well as which bookmakers provide the opportunity to play with BTC.

Betting with BTC is good because there are a lot of options. However, in this regard, not all bookmakers, in general, provide it. However, those sites on which playing and betting for Bitcoins are generally available, necessarily highlight a number of their advantages over the classic payment systems:

  • If the player fills the account in BTC or withdraws the won cryptocurrency from the site of the bookmaker to personal accounts, there is extremely low or generally zero commission;
  • In most cases, there are no limits for players who fill their account and bet with Bitcoin.
  • Customers with cryptocurrency accounts on the websites of bookmakers are always a priority and can count on the fastest possible responses from support and help;
  • The introduction and withdrawal of funds in Bitcoin is much faster due to the absence of intermediaries in the form of banks and their checks;
  • It is legal in most countries (except those that don’t allow cryptos at all).

Another undeniable advantage is that Bitcoin is a currency that does not depend on regulators and the whims of the authorities. In addition, with the exception of small periods of instability, it is always more expensive.

Recommended BTC casinos for Betting

We have collected a list of the best BTC casinos for betting. These sites are perfect, as they offer betting opportunities on different types of sports including esports.

CloudBet

CloudBet Review – The Best of The Best?

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

9/10

Vip Club

No

Unique Feature

60+ Markets in-play

Stake

Stake Review – 40+ Sports to Bet On

Deposit Bonus

No

Sports Betting

Yes

Free Spins

No

Games

8/10

Vip Club

Yes

Unique Feature

Weekly Jackpot

ThunderPick

ThunderPick Review – Competitive eSports and Sports Odds

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

6/10

Vip Club

Yes

Unique Feature

Gift Card Giveaways

GGBET

GGBet Review – A Sportsbook That is Worth Betting With

Deposit Bonus

120%

Sports Betting

Yes

Free Spins

No

Games

6/10

Vip Club

No

Unique Feature

eSports

22BET

22Bet Review – A Place for BTC Bettors

Deposit Bonus

100%

Sports Betting

Yes

Free Spins

No

Games

10/10

Vip Club

No

Unique Feature

Multiple Payment Options

Sportsbet.io

Sportsbet Review – BTC Sportsbook Welcoming Americans

Deposit Bonus

No

Sports Betting

Yes

Free Spins

No

Games

6/10

Vip Club

Yes

Unique Feature

Fantasy Sports

Betonline.ag

Betonline.ag – BTC Casino for USA Players

Deposit Bonus

Yes

Sports Betting

Yes

Free Spins

No

Games

6/10

Vip Club

Yes

Unique Feature

Fast Deposits

BitcoinCasinosReviews may earn when you click the links, check affiliate disclosure statement for more details
bitcoin betting

Is Betting With Bitcoin Legal?

Bitcoin betting is gaining popularity due to the fact that it provides players with the opportunity to play anonymously and make instant cash transactions. However, it’s not as white and black as it seems. Most countries just don’t care if you gamble with BTC.

It should be mentioned that there are no rules that directly prohibit betting with Bitcoin. Bitcoin gambling is not regulated. Apart from betting, you can play other casino games without any problems. The legality of Bitcoin, in general, is based on two factors:

  • The legality of Bitcoin in a particular country;
  • The legality of online gambling in the chosen country.

As for the legality of bitcoin, the use of cryptocurrency is allowed in all countries where the gambling market is developed and attracts operators. Today, bitcoin is legal in 111 countries.

However, we should note that there are some interesting cases. For example, the USA has some states that allow Bitcoin sports betting, while in others it is restricted. India has only 4 states that do that.

In Australia, it is illegal to offer online gambling to Australians. In Malaysia, online casino operators cannot offer their services to Malaysians – not to mention Bitcoins. But once again people still find ways to start gambling especially when we are talking about Bitcoin, which is full of opportunities.

What Other Coins Can I Use Besides Bitcoin?

bitcoin betBitcoin is indeed the most popular option for betting but there is usually no limit on other coins as long as the casino supports them. Casinos always try to diversify their options to attract more customers. If we compare it to fiat money we have the same case here. As there are more coins – the more possibilities for players.

As has already been mentioned above Bitcoin is the most frequently used currency for crypto sports betting, but there are other ones. The number of cryptos exceeds 2,000 but of course, not all of them are used for betting. There are 3 that are the most recommended:

  • Ethereum
  • Dogecoin
  • Litecoin

Like Bitcoin, all of these cryptocurrencies have the same advantages as their counterpart. In the case of Litecoin for example the speed of transaction is increased and usually takes 2.5 minutes compared to 10 minutes in Bitcoin. Ethereum is sometimes called the second most popular cryptocurrency after Bitcoin and it is also actively used for betting.

It is worth noting that these cryptocurrencies have not just become one of the payment options, but have taken the leading place. Many people agree that cryptocurrency has an advantage in gambling compared to classical fiat currencies.

What Betting Options Are There?

Generally, there are two main options when it comes to betting on Bitcoin: sports and eSports. Sports bookmakers were among the first to use bitcoin to attract customers. If at first, it was somewhat difficult for customers to get used to them, but as Bitcoin popularized, this method became very common.

As for eSports, this is a relatively new field that is still in the establishment process. Both of these options are very popular among players and we will review each of them thoroughly.

bitcoin bettingSports

Not many people have tried Bitcoin sports betting. Perhaps they may not have any knowledge of its benefits. So we have shared all the details regarding sports betting to help you in learning how it works and how bitcoin makes betting sports all so easy.

How does it work?

You can try sports betting in two different ways. You can book with the bookmaker or go online on sports betting. Sports betting with Bitcoin is not legal in many countries and many US states. So you can’t find a bookmaker that works legally and allows sports betting fans to double or triple their money. So, online bitcoin betting is definitely a great choice for you. All you have to do is find a sports betting site that allows users to put their bitcoins. You can go to the site, find a variety of sports there, and then choose the kind of sport you want to bet on. The list of sports available for betting is almost endless, but the most popular ones are the following:

The popularity of an individual sport is always very volatile. Nobody ever knows when a particular game could overtake the current sitting champion of popularity. As generations change, so do the sports themselves. Which begs the question, what is the next #1 sport in the world? So far, we don’t have the answer for that.

How should sports betting be done?

There are many things you should consider before you try sports betting. These things are mentioned below:

Consider the odds

All experienced players count the odds before putting their BTC bet into the sport. The odds can be named differently in different countries, but in the U.S. it’s called the odds of winning. The ratio can be positive or negative. If this is a positive number, it will represent the value of the winning amount. If the number is negative, it means you need that amount to win more. Therefore, you have to understand the odds and then risk bitcoins.

Know the types of bets before you try your luck

This is where newbie players get confused when they try bitcoin betting on sports online. Rookie players find different types of bets. You wouldn’t want to be one of those people, so check the betting types described below to be a good player.

eSports

crypto sports bettingPeople used to try their luck in casino games, sports betting, and other local gambling. The situation has changed and people have got a new way of betting, to bet Bitcoin on eSports. Many players have found that they can compete in teams and play games like Counter-Strike, League of Legends, and other games. Thus, online games were a great option for gamers, they formed teams and began to compete in video games. Today games like League of Legends are quite famous among gamers. People bet large sums on different teams that play these games and win the prize.

The world’s leading video game development companies are now trying to develop and publish several games that can allow players to compete and eventually offer you some great gambling opportunities.

Bitcoin bets on esports

As bitcoin has reduced the difficulty of gambling in other forms of gambling, it is also used in eSports betting. There are thousands of people who can’t try betting on esports because they don’t want to share their personal data and bank details with eSports betting sites. Bitcoin bet opportunities on esports is just a godsend for them. Now they can bet as many coins as they want and get the chance to win more bitcoins with the victory of their favorite eSports teams.

There are many video games that offer the opportunity to gamble. We have listed the best games to help you in choosing the best game.

League of Legends

League of Legends is probably one of the most favorite video games. Millions of people are playing this game and watching it online. This game offers a multiplayer combat arena in which many players participate to defeat their competitors. This game was developed by Riot and seems quite inspired by Dota games. The difference is visible when cartoon heroes run around the battle to defeat their rivals. It’s pretty hard to reach a high level. The game becomes very interesting when teams of five members of gamers try to destroy the base of rivals in the game.

Millions of people watch these matches and turn to BTC betting sites to see which team will win the match. People are encouraged to bet on eSports because they see some tough competition to live on and to think about investing their money in such eSports games. League of Legends has managed to attract millions of players to betting sites. Most of these players bet with Bitcoins.

Starcraft 2

This game is the newest addition to the StarCraft franchise. This game is played in all sorts of eSports tournaments. This game is really great fun for the audience. People like to look at it when two teams are fighting against each other to get the upper hand. Everything can be changed within a split second and any team can win. The gamer and their supporters both feel a huge excitement during the tournament. A wise player can choose a team given their true potential and then start Bitcoin wagering to win a huge amount. Most bitcoin eSports betting sites provide this game, so you have to try your luck in this game.

Dota 2

The odds also depend on the game you choose to bet esports and each betting site offers the best odds for Dota 2 during the match. This game is known as the best paying of all games. Bookmakers offer guaranteed prize money for this game, which consists of millions of dollars. The original version of this game was created almost ten years of ago and the developers designed it with all modern features. This game offers a new list of heroes and ten players can play it online. They will be divided into teams of 5-5 players and then they will fight to destroy the enemy base. Many agencies organize competitions and many teams take part in these competitions.

What Are The Pros and Cons of Betting With BTC?

Before we move to the pros and cons of betting with BTC, it is important to highlight the potential risk associated with cryptocurrency ownership.

First, the value and rates of purchase and sale of cryptocurrencies fluctuate daily in a significant range. Sometimes the ups and downs are really huge. You can buy Bitcoin for $7000 and watch its rate sink to $5,500 the next day.

Bitcoin has no oversight or control, which theoretically leaves a loophole for scammers. You may be told that the money was sent, but in fact, you might end up being deceived. But there are a lot of advantages which we will talk about below in the guide.

Pros Cons
Instant Transfers Capital Gain Tax
No Waiting on Withdrawal Forced To Exchange
Anonymity Risky Volatility
Low Commission Few Websites

Pros

As for pros sports betting Bitcoin, there are a lot of them. The first thing that comes to our mind is the speed of transactions, which are executed instantly. You are not forced to wait on withdrawals and everything happens rapidly. At the same time, you are able to remain anonymous and your personal information will not be disclosed. The commission fee is also absent from many online casinos.

Instant Transfers

As mentioned above, the main advantage of cryptocurrency betting is the speed of replenishment and withdrawal and complete anonymity of all these transactions. The winning goes completely to the better, no commissions are taken from it. The only advice for those who decided to try betting in cryptocurrency is to work only with a well-known bookmaker with a good rating.

Another advantage of Bitcoin is that is it faster than traditional payment methods. The reason for this is quite simple: bitcoin transfers on Bitcoin betting sites and other ones pass from the sender to the recipient directly, without the participation of anyone else.

This reduces the time cost to the maximum. Instead of 5-7 days that you would have to wait when paying with a bank card, or 1-2 days when paying from the electronic payment system, the transfer of Bitcoins takes from 15 minutes to an hour.

Low Commissions

In most cases, banks charge a commission for transferring funds. Its size depends on many factors. For example, from the method of sending money, from the chosen currency, from the range of the transfer – inside the bank or to another company, within countries or abroad, and other aspects.

For example, when transferring funds through traditional branches, i.e. in direct contact with employees, the commission will be 1.5% of the transaction amount.

In most cases, banks charge an increased fee for sending funds to other banks. On a Bitcoin betting site, it is absent. For example, in many banks, the commission will be 1.6% of the transfer amount or at least 50 dollars.

Even more, the user can pay when transferring money to another country. The commission in this case can vary in the range of 0.5 to 5%. For example, some banks will charge 1% of the transaction amount or 2% for the transfer of foreign currency if it is carried out in the national currency.

Banks often use a swift payment system or its analogs to transfer funds. It is calculated in dollars. For this reason, the user can also lose some of the funds due to the exchange rate difference, currency quotes may differ from those established by the Central Bank of a specific country.

In addition, an additional commission by the recipient bank may be charged from users, as they may have their own tariffs for such transactions. It does not exist in Bitcoin sports gambling.

In the case of Bitcoin, all of these costs are absent. Does not matter whether it is depositing or withdrawal of your funds – you get everything in full.

Anonymity

When Bitcoin was first created in 2009, no one would have imagined that it could hit such heights, which we see now. The cryptocurrency brought numerous advantages and being anonymous is one of them.

You don’t have to create an account or give anyone your information to buy, sell, or do other Bitcoin transactions. Instead of your data, long combinations of letters and numbers are used to identify the payment.

Each time the translation is carried out, this combination is entered into the public registry of the blockchain and becomes visible to all participants.

This means that if you register on a website that conducts payments exclusively in Bitcoins, you will be able to bet anonymously. No one will know that you are involved in online sports betting Bitcoin. In addition, you do not have to give your personal details to the bookmaker. Passport data and other personal information do not need to be specified – it is enough to indicate the address of the wallet.

Some users do not want their information to be disclosed to central banks, governments, and third-parties. Because of that Bitcoin is an incredible opportunity for you to remain “hidden” online. Only you will know about transactions you make to your casino deposit account.

Cons

When we talk about Bitcoin betting of course there are numerous advantages that come alongside it. However, we should also mention the main drawbacks. Nothing is $100 advantageous and crypto also has its disadvantages when it comes to betting. Let’s have a look at each of them:

Tax

Capital gains tax is a type of tax on the income of legal entities and citizens. When you are dealing with crypto bookies you are most likely to become a subject of taxation. The taxable basis is the profit that investors receive from the sale of the asset. It is necessary to pay tax to the state budget in case the sale price of the asset was more than the cost of its purchase. In addition, the obligation to transfer payment arises if the very use of capital brings profit. For example, purchased shares give dividends.

The tax is charged on the amount of the increase calculated for a particular tax subject – a company or an individual. The type of asset is not taken into account here. Therefore, if some of the owner’s assets have made a profit and others have lost, the difference is compensated and the mandatory payment is not accrued.

In world practice, this type of tax is used quite widely – let alone Bitcoin bookmakers. It is especially common in economically developed countries, including the United States. In this country, the accrual and payment is regulated by income tax legislation and it is not allocated in a separate form. However, for example, in Austria or Germany, on the contrary, it exists and is actively used.

Risky Volatility

One of the main drawbacks is the strong volatility of the bitcoin exchange rate. Currency, global, and any world events related to the attempt to regulate bitcoin at the legislative level lead to sharp jumps in its rate. The risk is that if you win a decent amount in Bitcoins and do not rush to withdraw them, they can depreciate in one day. On the other hand, the benefits can increase equally for the same reason of bitcoin volatility. Therefore, players usually do not pull with cryptocurrency gains, and immediately withdraw them and convert them into more “calm” currencies, for example, in euros or dollars.

Few Websites

As has been already mentioned crypto betting has not existed for a long time. Bitcoin was created in 2009 and it was only 2014 when the first licensed casino, accepting Bitcoin was created. The options for choosing a site are low, and the options of actually good sites are even lower. However, it does not mean that it is impossible to find one with a good reputation.

One way to find the best crypto bookmaker is to do some online research. Various websites list many Bitcoin bookmakers and you can easily compare features and determine which ones are best for you. Although don’t think you’re limited, choosing only one platform for online betting, but finding the exact one could become a problem.

At the same time, the licenses are a determining factor for many users. A lot of websites lack these licenses which hamper players to cooperate with Bitcoin sportsbooks.

Final Notes

In the spring of 2017, it was reported that in three years (since 2014) in the world on gambling sites was made a total of 4.5 billion dollars in bitcoins. Taking into account the crazy growth of the popularity of cryptocurrencies in the last 1.5 years, now this figure probably exceeded 10 billion.

At the moment, sports betting with Bitcoin and other cryptocurrencies are not regulated. And the status of Bitcoin is not very clearly defined in most countries.

But it is obvious that in the future the sphere of sports betting will develop inextricably from cryptocurrency. Since there are advantages to this: effective projects on the blockchain, speed of transactions, reduction of commissions.

Over the past few years, the trend of using cryptocurrency in sports betting has been gaining momentum. Digital assets are becoming more popular, and their value is steadily growing, and they have a number of significant advantages over real funds.

In Bitcoin sports betting sites, Bitcoin has huge prospects. Given that betting is already trying to remain anonymous, cryptocurrency becomes an ideal means of transactions. The main thing is to find a reliable bookmaker for payments in Bitcoin.

FAQ on Bitcoin Betting

Is Bitcoin betting regulated?

There are no direct rules that would regulate Bitcoin betting. Most of the countries are offering players this service, except the ones where the status of Bitcoin is already determined. Depending on your location, crypto-sports betting can be legal entertainment for many sports fans. While sports betting is permitted in some countries, others may not have any coercive laws against them.

Be sure to explore your region to make sure it’s permitted and you can enjoy it legally. It is also important to make sure that the bookmaker for sports betting that you use is legal and permitted in your area. The United States for example has strict rules regarding crypto gambling, but in some states, it is allowed.

However, it should be noted that some of the gambling jurisdictions like Curacao and the United Kingdom are issuing licenses that are available on the official website of a crypto bookmaker. These countries are taking full responsibility for the reliability of an online casino.

How do crypto sportsbooks make money?

The concept for crypto bookmakers is the same as for regular ones. Sports betting is quite capable of making a profit – it is an indisputable fact, but in order to remain in the advantage for a long time, it is necessary to develop a specific system through which the player can remain in the advantage in most cases.

First, the bookmaker determines what amounts players plan to bet on the outcome of the event through the history of odds, then form their quotes. After the event takes place, the bookmaker is left to simply pay the profits to the winners and take the margin from all the players.

Let’s think of a tennis match. The bookmaker put the same odds on the victory of both players – 1.95. Let’s say that $1000 was bet on each. Accordingly, the bookmaker received $2,000. Now let’s calculate how much each pool of players will receive in case of a positive outcome:

  • P1 – $1,000 x $1.95 = $1950;
  • P2 – 0 (because there is only 1 winner when betting).

It turns out that the bookmaker received $2,000 from the players, and paid 1950. Accordingly, 50 dollars will be the profit of the bookmaker. In the case of any outcome, bookmakers are guaranteed to get a margin without risking anything.

Bookmakers also constantly change odds to ensure that the new amounts raised by the players are distributed evenly, and the bookmaker remains with the margin.

What are the signs of a trusted bitcoin betting site?

There are some signs you can look for to select a reliable website.

First of all pay attention to the period of existence. If a crypto website is new and does not have much experience it is better to stay away from it. Go for the ones that have a positive reputation among players.

Reviews from customers and available ratings on other websites is another indicator to make sure whether you are dealing with an honest site or not. At the same time, you should also pay attention to the odds. Sometimes they are too high and could arouse suspicions among players. You can compare it to traditional bookmakers. Generally, they are not very different from each other.

Choosing a high-quality Bitcoin betting site could become a problem sometimes. This is due to the fact that the industry still new and it requires some time to establish itself fully.

What is a minimum deposit at a Bitcoin bookmaker?

Most Bitcoin bookmakers have a minimum limit of $10 which is valid for Bitcoin and other cryptocurrencies. However, it depends on a particular bookmaker. Like in online casinos there is not a standard rule which would be the same for every operator. However, if we take a look at general statistics $10 is a standard. But it can be low or high for different bookmakers.

Before you start betting it is always a good idea to check the requirements to avoid any complications. Considering the fact that Bitcoin is a very volatile currency it changes frequently so the minimum deposit could go up or decrease at a particular period of time.

Do Bitcoin betting sites offer better odds?

No, they are almost the same. One of the key differences between usual websites and Bitcoin betting sites is that in the latter you place bets with Bitcoin. There are no noticeable changes in betting options. For example, if there is a match between Barcelona and Real Madrid and you bet on Barcelona, which has an odd of 1.8 it could be slightly different in Bitcoin bookmakers and will not give you a substantial change.

This is also the case for eSports betting. The changes are so minimal that it is even hard to notice them. However what makes Bitcoin betting so attractive is its anonymity, speed, and lack of commissions.