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:
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.
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.
60+ Markets in-play
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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:
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.
Bitcoin 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:
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.
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.
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.
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.
There are many things you should consider before you try sports betting. These things are mentioned below:
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.
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.
People 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.
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 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.
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.
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.
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.
|Instant Transfers||Capital Gain Tax|
|No Waiting on Withdrawal||Forced To Exchange|
|Low Commission||Few Websites|
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.
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:
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.