The extensive use of cryptocurrencies has been visible in many fields of life, with the gambling industry being no exception and modern online bookies have modernized the betting, offering Bitcoin horse racing as one of the most popular disciplines. When bookmakers first appeared horse racing was one of the most demanded sports for players. It has evolved notably and now we have a completely different situation.
Betting on horse racing with Bitcoin has gone a long way and it should be mentioned that it is entirely legal to place bets on this sport. However, there is one key moment that every player needs to take into account – according to a particular country’s law betting requirements can be different.
Bitcoin as a form of betting is frequently the only way to bet on sports. While there are other cryptocurrencies, like Ethereum and Litecoin when it comes to sports betting none of them matches Bitcoin’s popularity.
Furthermore, players making their bets on horse racing are given the chance to get various bonuses and promotions. In addition, they have the possibility to take part in crypto horse racing tournaments, challenging other players, and be awarded Bitcoins.
Bitcoin has changed the gambling industry notably and offers customers a completely new way of betting on sports. We should point out that with its advantages Bitcoin opens boundaries. Everything is simplified and focused on a customer’s needs. At the same time, horse racing is a perfect fit for cryptos.
Our list of sportsbooks features the best sportsbooks that allow BTC betting on horse racing. Check them out, get incredible bonuses and if you are interested in more details click on the ‘Read More’ button below. These betting sites enjoy the most popularity when it comes to horse racing.
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Bitcoin betting on horse racing might seem difficult from a first view, but actually, there are two simple steps that you should follow: find a reliable horse racing Bitcoin bookmaker and create an electronic wallet, also known as a crypto wallet. After that, you should deposit Bitcoins on your personal account, which you will later use for betting.
Finding a good site is usually the most important step. Selecting a suitable online bookie with a good interface, license, and line of betting is an utmost priority for players. The crypto industry as a field appeared in the financial world not a long time ago. So is crypto gambling. The first licensed crypto sportsbook was created in 2014, which means that this field is still a fresh one.
As we have already mentioned at the beginning of this section finding a website that has a license from high-authority regulators is essential. The license ensures fair and equal odds and guarantees that no player has an advantage over the other. At the same time, BTC horse racing is also appealing to new customers.
Almost all sportsbooks does not matter whether it is a regular or crypto, have their own list of restricted countries, which are not eligible for gambling. After you find a betting site you want the next thing you must check is whether your country is restricted or not, based on which you can create a new account.
Usually, information about limited countries is available in the official documents. You can also come across this list in the FAQ section and if you still have problems with finding it, you can always contact the sportsbook’s customer support.
A crypto wallet is similar to a traditional bank account, where you can store and transfer your cryptocurrencies. In order to start betting with Bitcoin, you need to possess a working wallet. Without wallets placing horse racing Bitcoin bets is impossible. Such wallets are usually created at exchanges and are not significantly different from each other. Some require you to install additional software, while others are accessible directly on the website.
We can distinguish two types of crypto wallets which are hot and cold. Hot wallet as the name itself suggests is the one connected to the Internet. A cold wallet in contrast is not connected to the Internet, which technically makes it more secure.
The registration process on a crypto sportsbook is very simple and resembles the one existing in traditional bookies. First of all, you should click on the Register or Sign-Up button, which usually is located at the top right corner of the website.
After clicking it, the form appears, where you are required to enter your personal information like username, the country where you reside, age, e-mail. The latter should be active to start BTC betting on horse racing because there you will get a message for the account’s verification. Some BTC sportsbooks also enable their users to go through the registration process with social media accounts and Gmail.
Bets on horse racing can be done online and you are able to watch the tournament in real-time. At the same time, this sport is one of the fastest and the most unpredictable in the world of gambling.
There are many types of horse racing bets. The biggest of these is a Win, where you bet on the winner. There is also the opposite – Lay, where you can bet that the chosen horse will not take the prize.
This is definitely the most popular Bitcoin gambling option for players. It’s as simple as that in Bitcoin horse racing – you are invited to choose a horse that you think will come to the finish line first. It is impossible to discount the fact that many bookmakers have recently started to offer bets called “double chance”. This suggests that even if the chosen horse comes to the finish line first, but the stewards disqualify it, the winning for the victory will be made in any case.
Often bookmakers actively offer players so-called “guaranteed high odds.” Thus, if the bet on the victory of the horse on which bets were made, immediately before the race will be higher than the one that was at the time of the bet itself, the winning bet of the player is calculated at a higher, if compared with the standard odds.
Curiously, however, initially, BTC bets on horse racing on the place could be made exclusively on betting exchanges, bookmakers did not offer them. But over time, bookmakers went to meet their customers and began to accept this kind of odds. The essence is very simple – the client of the bookmaker makes a bet on the place that the horse takes at the time of the bet. If the forecast is justified, the bet wins. In other cases, the bet goes in favor of the bookmaker.
In this option, all the player needs to do is to guess which horse will finish first, which racehorse will cross the finish line second. The most interesting thing is odd. The odds are multiplied to the corresponding single bets. However, the degree of risk increases quite significantly – so if at least one racehorse was predicted incorrectly, the whole bet is lost.
Also in crypto horse racing, there are express trains and forecasts for three places. Here everything is very simple – in the “three places” you will need to guess three racehorses that finish first, and in the races on the express trains you need to predict the order from which horses cross the finish line.
What are the types of bets on horse racing? The essence is incredibly simple – you will need to bet that a certain horse will not be able to win the race or finish at a certain place.
Many bookmakers offer today to bet on the victory of a horse sometime before the start of the race (most often – for a month). Odds in this period are much higher than just before the racing.
There are several key moments why bets on horse racing with crypto is advantageous for players. First of all, you can hide your transactions, which means that governments and third parties are not able to track your records. Transactions in their turn are fast and happen in no time. The volatility of Bitcoin is another pivotal factor to understand when you start betting with a cryptocurrency.
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Transactions with Bitcoin are carried out instantly. In general, Bitcoin transactions will be confirmed between 10 minutes and there are cases where you can see the funds on your accounts within 5 seconds. That makes Bitcoin appealing to players.
When you are withdrawing your winning from a BTC sportsbook you do not spend time waiting. In regular sportsbooks withdrawing money usually takes up to 1 working day, which is annoying for a lot of customers. With Bitcoin, everything is simpler and easier.
Here we should also emphasize that it is the same for depositing. With horse racing bets, Bitcoin appears on your account instantly.
The absence of a commission fee is a huge advantage for Bitcoin. In traditional sportsbooks, when you are withdrawing your winnings from your personal accounts the rate usually varies between 2-10%. When we talk about a large amount of money, a commission fee can charge you a considerable amount of money.
Bitcoin eliminates all of such possibilities. The amount of money does not matter. Whether you are withdrawing $100 with Bitcoins or $10,000 you will not be required to pay any additional sum.
Volatility is a term of finances, which basically means how the price of a particular asset changes over time. Bitcoin is a very volatile currency because it changes all the time. If you were to see the value of Bitcoin on a particular exchange, you can see that its price changes rapidly – every minute. In BTC betting on horse racing, it is really profitable. One day it could equal $2000 for example and on the other – $4000.
Volatility is sometimes considered a double-edged sword because it can both damage and benefit a player. If we take a look at recent events, Bitcoin’s price is growing sharply and shows no signs of slowing down. It is an investment. For example, if you deposit Bitcoin on your account, the next day its price can grow notably, resulting in profits.
We have come to the final part of our guide – is it a good idea to place Bitcoins on horse racing. First of all, taking into account the advantages mentioned above, cryptocurrency offers a wide variety of opportunities such as anonymity, speed of transaction, absence of commission, and volatility. The number of BTC bookies offering BTC bets on horse racing is growing significantly and with time will only continue to grow upwards.
Everyone is able to bet in Bitcoins or other cryptocurrencies. It is convenient, you do not have to pay a huge commission, and anonymity is maintained.
Bookmakers with cryptocurrency support open new opportunities and increase the level of security for customers. In the near future, people will make bets only through smart contracts, just as we will use them in many other areas and cryptos are destined to replace traditional payments in every field of our lives.