Recently, bookmakers have appeared on the betting market with enviable constancy, offering to place bets in cryptocurrency. Some bettors get lost in the variety of choices and do not understand how to choose a reliable bookmaker for crypto betting, how not to run into a scammer, and how the betting process works in general. If you prefer to bet on sports in cryptocurrency, then this article will help you make a list of cryptocurrency bookmakers with the highest reputation for yourself.
- What you need to know when choosing a bookmaker for cryptocurrency betting?
- What cryptocurrencies are accepted by online bookmakers?
- Crypto wallet – How to buy cryptocurrency?
- How to make a cryptocurrency deposit?
- Cryptocurrency bonuses
- Cryptocurrency betting vs fiat money betting
- Advantages of bookmakers accepting Bitcoin and other cryptocurrencies
- What are the disadvantages of online bookmakers with cryptocurrency?
- FAQ: Cryptocurrency in bookmakers
What you need to know when choosing a bookmaker for cryptocurrency betting?
When choosing an offshore bookmaker, first of all, you need to pay attention to its reliability and feedback from the betting community. The experience of other players will help you avoid their mistakes when making bets in cryptocurrency . When conducting an analysis, do not be lazy and “scrawl” the Internet more deeply, find not only top forums, but also less well-known ones.
We offer a number of fundamental tips when choosing a bookmaker for betting in cryptocurrency. Do not neglect such advice – and you will not have problems.
Legitimacy and security
The safety and reliability of a bookmaker is the main criterion for any bettor when choosing an office. Reviews on the forums and comparing them with each other will help you determine the degree of competence of a particular bookmaker. Also pay special attention to the functionality of the bookmaker’s support service – you can check it with several security questions even before registration. Well-coordinated support work is a sign of a reliable crypto-bookmaker .
Another important factor when choosing a bookmaker for betting in crypto is whether you can bet in bitcoins from your country of residence. Let’s say that US residents can be recommended some resources that accept bets from citizens of this state. Other sites are more suitable for residents of Europe or the CIS countries.
Today, about 1% of sports betting in the world is made in cryptocurrencies. Of this amount, approximately 80% is occupied by the share of rates in Bitcoin, Ethereum and Litecoin – these are the three most trending and popular cryptocurrencies , the main guides of this market. Taking into account the fact that the cryptocurrency has not such a long history, this indicator can be considered rather big. Experts are sure that in the future the share of sports betting in crypto will only grow. Therefore, when choosing a bookmaker, you need to consider how many digital currencies it offers for financial transactions.
An interesting fact is that the use of cryptocurrency is not allowed in all countries. Therefore, think and study the issue before using this payment method and what it can threaten.
Just finding a bookmaker with a large number of cryptocurrencies is not enough. It is important to understand what exchange rate the bookmaker offers , what exchange service it works with. Only after studying this information will it be profitable and convenient for you to replenish your balances and receive payments from bookmakers .
To monitor the current rate of cryptocurrencies for today, you can use special sites. Many services have been developed specifically for the convenient selection of a suitable exchange office. Some bookmakers also offer their customers to purchase bitcoin through internal services – in this case, the exchange rate is offered by the office itself.
The commission for replenishing an account in cryptocurrencies depends on the specific bookmaker and the service with which it works. However, most of the leading bookmakers in the world allow you to make a deposit without a commission – the giants of the market can afford it.
At the same time, bettors should understand that they will have to pay a fee for transferring money to bitcoins and vice versa. In addition, there may be a commission for withdrawing funds, even if you started it without interest. For example, in one of the largest offices, you will have to pay 12 euros per transaction . It is better to find out financial conditions in other offices in advance in the support service or in the company’s rules.
Regulation and licenses
When choosing a bookmaker that works with cryptocurrency, ask about its license and reputation. Many bookmakers work under the license of the island state of Curacao – many companies related to gambling are registered there.
When studying the reputation of the office, pay attention to how it resolves disputes with players. There are several ways to do this, but the easiest way is to read the reviews and recommendations on the Oddspedia website. We have already done all the “rough” work for you and have compiled a rating of the best bookmakers for betting in cryptocurrency .
In addition, you should pay attention to how long the bookmaker you have chosen has been operating for. For example, a bookmaker has been accepting bets since 2004 – that is, bettors have been working with this company for more than a decade and a half, which indicates a positive reputation.
Odds are one of the main criteria for choosing a bookmaker among all customers, regardless of what currency they prefer to bet in. Both for bettors who play in dollars or rubles, and for cryptocurrency fans, the low margin of the bookmaker and, accordingly, good quotes matter .
Thanks to the interactive tools of the Oddspedia website, you can always track the best odds from bookmakers around the world. Our services are absolutely free, but at the same time effective. With our odds scanners, you can find the best deals on the market and place the best bets.
Line width and painting is another factor influencing the choice of a bookmaker. Bettors prefer to have room to maneuver, and not just the main outcomes, a few odds and totals. The more diverse the line, the more sports are represented in it, the more likely it is that a new client will choose this particular bookmaker .
Most cryptocurrency bookmakers do not differ much in terms of available betting lines and events, however, some of them offer betting on exclusive sports that their competitors do not have.
What cryptocurrencies are accepted by online bookmakers?
Every year more and more cryptocurrencies appear in the world. It is clear that the leading positions are occupied by the well-known Bitcoin and Litecoin, however, many bookmakers offer their customers other opportunities. If you plan to use any unpopular crypto for sports betting, you should first find out if the office you have chosen works with it.
Of course, it is Bitcoin that takes first place in all possible popularity ratings of cryptocurrencies. This is a long-lived cryptocurrency with the most impressive capitalization. It’s not just called “digital gold”. Yes, the correction of the bitcoin exchange rate of the 2020 model against the backdrop of the raging coronavirus nevertheless shook this status, bitcoin still remains the flagship of the cryptocurrency market.
It is not surprising that most bettors prefer to bet on sports using Bitcoin . All the world’s bookmakers that approve this method of transactions work with this crypto.
Litecoin is the “younger brother” of Bitcoin, created on the basis of its protocol. This currency differs from its “big brother” in ease of use and speed (4 times). Sending and receiving payments in Litecoins can be compared in speed with the delivery of messages in instant messengers. Another plus is the low withdrawal fee.
Capitalization of Litecoin is also growing and already exceeds $5 billion. Experts all strongly advise to keep an eye on Litecoin, since this currency may show even more interesting results in the near future. Therefore, bookmakers almost without exception work with this crypt.
In August 2017, the Bitcoin Cash cryptocurrency appeared by separating from the Bitcoin network. This process is professionally called hardfork. Without delving into complicated terminology, we can say that the reason for the split was the competing plans of a development group to improve the network protocol. The parties did not see eye to eye, which led to the hard fork.
According to experts, Bitcoin Cash will not be able to catch up with its “parent” in any of the indicators . For example, the market capitalization of Bitcoin Cash is only slightly over $18 billion, which is 50 times less than that of Bitcoin. However, some bookmakers willingly use BCH for financial transactions.
Ethereum (or ether) is the main platform for deploying decentralized applications and crypto exchanges, in addition, it is the main altcoin of the crypto market. Ethereum became the progenitor of almost 90% of cryptocurrency projects .
Ethereum has been strengthening its position in the market throughout 2020, and already in 2021, it broke its record for twice the value of $4.3 thousand. Interest in ether today has been fueled by the launch of Ethereum 2.0, which is scheduled to be completed by the end of 2021. This currency is interesting not only for long-term investments, but also for fans of sports betting.
Dogecoin is a cryptocurrency invented just “for fun” or “for the sake of hype”. In 2013, Adobe software engineer Jackson Palmer, amid the global boom due to Bitcoin, decided to make a joke and created his own cryptocurrency to prove to everyone that investing a lot of money in this unstable direction is a big stupidity.
Palmer left the project back in 2015, and at the junction of 2020 and 2021, his offspring began to rise sharply in price. In a couple of weeks, the value of Dogecoin has increased 10 times. And the long-term forecast of experts regarding the price of this crypt is very optimistic . Apparently, another notable player is appearing on the market, and some bookmakers are already using this currency.
In addition to the above, bookmakers offer many other cryptocurrencies for betting. Not all of them are popular or even known to a wide range of users, however, the more choice the bookmaker provides, the more it increases the loyalty of bettors.
Here is a list of cryptocurrencies that can also be found in the bookmaker:
Tether on BSC;
tron and others.
Crypto wallet – How to buy cryptocurrency?
With the growing popularity of cryptocurrencies on the Internet, there are more and more exchange offices and exchanges working with it. Each service has different exchange rates, different commissions and terms of transactions. Therefore, when buying crypto, it is important to choose only reliable services.
What to choose for buying digital currency – exchanges or exchangers? On specialized exchanges, the turnover of transactions is billions of rubles, and experienced clients can use this particular method . It is possible to catch the most profitable rates on the exchanges, but you will not always find the necessary amounts there. You have to monitor offers more closely and buy bitcoins, litecoins or other currencies in parts. The principle of operation of all exchanges is extremely simple: a person creates an offer and waits for someone to respond to it.
But do not forget about exchangers. The administration of such resources keeps huge sums in reserve. If the user sends an application, the transaction is immediately carried out. The advantage of exchange offices is in large volumes, but the rate here is almost always not ideal.
However, finding a favorable rate and buying cryptocurrency is only part of the story. To transfer the purchased crypto in the form of a deposit to a bookmaker, you need to open a crypto wallet. They are of two types:
A cold wallet is a physical medium (flash drive) that you can store and connect to your computer when you need it.
A hot wallet is an online wallet that a user creates on a third-party service or exchange on the Web. It is more convenient to use it, but no one has canceled digital scammers, that is, the security of this method is lower.
For large deposits, we recommend purchasing cold wallets. If you are going to make small deposits in the BC in the crypt, but you plan to keep the withdrawn funds in other money, you can open a hot wallet.
How to make a cryptocurrency deposit?
Replenishment of a bookmaker’s account in cryptocurrency does not differ much from a similar operation performed using “live” money. The bettor needs to follow the following steps:
Register on the website of the selected bookmaker;
Go to your personal account and select the account replenishment section;
From the proposed cryptocurrencies, choose the one that you bought on your crypto wallet;
In the next window, indicate the amount by which you want to replenish the account. Different bookmakers may have different deposit limits;
Most likely, the office will give you a notification about the commission. You need to read it and / or click “Acquainted”;
The company will issue you an invoice for payment. Copy it, go to your crypto wallet and make a transfer to the specified number;
After some time, the amount sent will be credited to the game account in the bookmaker and you will be able to bet on your predictions. The speed of the transaction depends on the network load and the amount of the transfer fee.
Some bookmakers give solid bonuses for financial transactions using digital currencies. The most popular gift is the first deposit bonus (or first deposit bonus). The player makes the first payment to the account using cryptocurrency , and the office additionally gives him a certain percentage of this payment (usually 100%, but not more than a certain amount).
However, bookmakers also have exclusive cryptocurrency offers. Among them – a percentage on a deposit, a prize in cryptocurrency for a bet using a regular currency, a bonus for the second and third deposits. In some cases, cryptocurrency deposit bonuses are greater than the classic cash deposit gift.
If you decide to make a deposit and make bets in cryptocurrency, we recommend that you familiarize yourself with the terms and conditions of promotions in the selected office in detail. At the same time, do not forget that any bonus, including those received for cryptocurrency, will have to be wagered. This will lead to some restrictions on your account – most likely, the ability to withdraw funds will be blocked for the duration of wagering.
Cryptocurrency betting vs fiat money betting
Cryptocurrency is confidently walking the planet, gaining more and more popularity. The world’s leading bookmakers are increasingly willing to accept sports bets with digital money. However, this does not negate the popularity of fiat money, which is still indispensable in bookmakers.
Cryptocurrency experts call “fiat” ordinary paper money. Simply put, “fiat money” is the very means that all bookmakers and bettors in the world have used for many years. Some bookmakers accept crypto, but immediately transfer it to bettor’s account into fiat money.
Each bettor chooses for himself how to replenish the account at the bookmaker’s office. Both cryptocurrency betting and betting on fiat money have their pros and cons. The advantage of crypto lies in the fact that it is almost impossible to trace , in addition, it is an emerging currency that rises in price literally every day. In favor of fiat money speaks many years of experience in their use and the absence of the need to delve into extremely complex (for some people) cryptocurrency schemes.
Advantages of bookmakers accepting Bitcoin and other cryptocurrencies
Demand for bitcoin and other cryptocurrencies has increased significantly in the last year or two. Betting companies could not help but take advantage of this and began to accept cryptocurrency more and more actively. New offices have even appeared in the world that work exclusively with digital assets. Offices that work with bitcoin, litecoin and other modern currencies are very popular, as they have a number of advantages that are not available when paying with dollars, euros, rubles or other world currencies.
Complete privacy and security
Of course, this is the main advantage of cryptocurrencies and bookmakers working with them. 100% protection is provided by new technologies and protocols. When placing bets with Bitcoin or other cryptocurrencies, users may not disclose their personal data. Tracking transactions is almost impossible. Combined with the availability of crypto, this makes it one of the most convenient tools for sports betting.
In addition, when placing bets in the crypt, you can be sure that you will not be “thrown”. Clients of bookmakers on the blockchain are guaranteed to receive payments – this is embedded in smart contracts.
Sports betting and gambling in general is one of those industries that is heavily regulated and controlled. Bettors often face legal barriers that reduce the availability of gambling sites. Cryptocurrencies make it possible to bypass blocking and bet from anywhere in the world. If the selected office operates on the territory of your country, and it works with crypto, there will be no problems with rates.
Quick deposit and withdrawal of funds
Cryptocurrencies are decentralized digital money. This means that the player and the bookmaker make financial transactions without banks or intermediaries. You can instantly deposit and withdraw funds – some betting sites even have automatic payouts directly to the customer’s wallet. It’s convenient and fast.
The absence of intermediaries not only speeds up transactions, but also reduces their cost. Bookmakers almost never charge a commission for deposits in crypto. Bettors can lose a certain percentage only when withdrawing funds.
What are the disadvantages of online bookmakers with cryptocurrency?
We note right away that this method of calculation is available only for residents of those countries where the use of cryptocurrency is not prohibited at the legislative level.
This creates some inconvenience for holders of digital currency assets, but there are no other options. Due to the anonymity of transactions, in the event of a dispute with the bookmaker, the player will usually not have a chance to prove his case.
Other disadvantages of betting in crypto:
in companies that accept cryptocurrency, but immediately convert it into the usual fiat, there are conversion costs that fall on the client. In this case, the conversion takes place not at the average market or favorable rate, but at the rate set by the bookmaker (of course, it will be beneficial for the office);
Not all bettors are ready to abandon payments in the usual money. This is primarily due to fluctuations in the exchange rate. On the one hand, you can make a significant profit when jumping up, but you can also lose a lot of money that you have on your balance in the bookmaker when you fall.
Over the past few years, the trend of using cryptocurrencies in bookmakers has gained impressive momentum. Digital assets are becoming more and more popular every year and even month, although they still cannot displace fiat (paper) money from the market. The popularity of cryptocurrency is due to many factors, including the stable growth of the main representatives of this market: Bitcoin, Ethereum and Litecoin. In addition, crypto transactions are completely confidential and take place at minimal commission costs on the part of bettors.
On the Oddspedia website, you will find a ranking of the best crypto bookmakers that accept bets in cryptocurrency. The data is updated regularly, so you will only receive up-to-date information.
FAQ: Cryptocurrency in bookmakers
Is it safe to bet on sports with cryptocurrency?
When placing bets in the crypt, you can be sure that the bookmaker will not “throw” you for money. Clients of bookmakers on the blockchain are guaranteed to receive payments – this is embedded in smart contracts. Therefore, bets in digital currency are sometimes safer than in conventional ones.
Is it easy to deposit with BTC?
Replenishment of an account in bitcoins and other crypto-currencies does not differ much from the standard method of making a deposit. After creating an account, you need to go to your account, go to the replenishment section, select the cryptocurrency that you have on your crypto wallet and specify the amount. The company will issue you an invoice for payment. Copy it, go to your crypto wallet and make a transfer to the specified number.
Do they charge a commission when depositing with cryptocurrencies?
Much depends on the specific office that accepts cryptocurrency. In almost all offices, you can replenish your account in this way without additional interest. However, you will have to pay a fee to transfer money to bitcoins (or vice versa).
Do online bookmakers only accept bitcoin?
No, modern bookmakers offer their clients other cryptocurrencies to choose from. In some BCs there are several of them, in others there are several dozen. Among the most popular (except bitokin) are Ethereum and Litecoin.
Are there exclusive bonuses for using cryptocurrency?
Some bookmakers give solid bonuses for financial transactions using digital currencies. The most popular gift is the first deposit bonus. There are bookmakers and exclusive cryptocurrency offers. Among them – a percentage on a deposit, a prize in cryptocurrency for a bet using a regular currency, a bonus for the second and third deposits.
What other cryptocurrencies are accepted by online bookmakers?
In addition to Bitcoin, Ethereum and Litecoin, bookmakers offer the following cryptocurrency deposit options: Dash, Monero, ZCash, NEM, DigiByte, Ripple, Verge and many others.
Is it possible to bet on eSports in cryptocurrency?
After replenishing the account with cryptocurrency, the bettor can use it to bet on any events offered in the line of the bookmaker, including e-sports.
Are there limits on deposits and withdrawals when using cryptocurrency?
Each bookmaker sets its own restrictions on depositing and withdrawing funds in crypto.