Bitcoin Sports Betting Guide

  • Looking for reliable online sportsbook that accepts cryptocurrencies?
  • Do you want to get the most from your crypto sports betting?
  • On the search for a legal online crypto bookmaker that accepts Bitcoin?

If you are reading this article, then you probably have two things in mind – sports betting and cryptocurrencies. More and more jurisdictions are paving the way for the allowance of legalized online sports betting, but many people still have problems getting money into their sports betting accounts, mainly because some banks will not allow payments to even legal sports betting sites. The solution to this issue – if it affects you – is a simple one. Just use Bitcoin or another popular cryptocurrency at a legal sportsbook where cryptocurrencies are accepted!

The Best Bitcoin Betting Sites in 2021

Below you will find a list of the very best Bitcoin betting sites in 2021. We evaluate all sites that we find, based on a number of criteria including how safe they are, the number of sports and markets available and how efficient their customer support has proven to be. We also check for any bonuses offered, whether live streaming of sports is available and how extensive the in-play options are at the site.

Once we have examined all the above (and a few other aspects that our experts know to be important) we declare which Bitcoin sports betting sites are worthy of your sports betting custom, and which you should avoid.

Bitcoin Gambling: Facts & Figures

  • It’s estimated that $1.5 billion in Bitcoin is wagered at online sports books every year
  • Between 30 and 40 percent of all Bitcoin transactions are related to sports betting
  • Bitcoin sportsbook Sportsbet.io is a leading sponsor in the world of sports – with deals with many top soccer teams including Arsenal, Southampton and Watford of the EPL.
  • The number of sports betting sites accepting cryptocurrencies grows by around 9 percent every year

The Pros and Cons of Bitcoin Betting vs Traditional Betting

Pros

  • Bitcoin betting is much more private than traditional betting. If you use a sports betting site that does not accept any cryptocurrency, then you will be forced to share some manner of financial information with them, and you will have to enter your card details or eWallet information which always puts you at the risk of hacking. You can perform Bitcoin transactions directly from your wallet, without the risk of your wallet being hacked.
  • Cryptocurrency deposits, and withdrawals especially are much, much faster than fiat currency transactions. The money usually takes less than a second to transfer via your cryptocurrency wallet. Withdrawals may take a little longer, but that depends on the sportsbook you are using. Compare this though to cards withdrawals which can take up to five days!
  • You may get better promotions and deals if you use a cryptocurrency as opposed to a fiat one. That’s because bookmakers have to deal with banks and other financial organizations in order to transfer money, and they have to pay fees in order to do so. Those fees are considerably less if you use cryptocurrencies, so a sportsbook may encourage you to use a non-fiat currency by offering better promos and more beneficial wagering requirements.
  • You could earn cash without spending a cent! Cryptocurrency prices rise and fall all the time, so if you don’t wager for a while then you could find the money in your sports betting account is worth far more than it was when you deposited it! For example, $100 of Bitcoin left untouched since the start of 2020 would be worth $470 today!

Cons

  • Cryptocurrencies – like all currencies – can go up or down. If you deposited $100 in your sports betting account in April 2021 and then forgot about it, by June it would only be worth $70.
  • Bitcoin transactions are not completely anonymous. If the authorities want to trace a specific Bitcoin transaction to you, they can. However, they only generally do this if you have been involved in something extremely illegal. Sports betting does not fall into this category.
  • There are a limited number of bookmakers that accept cryptocurrencies. You may find a sport betting site that you really like the look of only to find that they only accept cryptocurrencies

What are the Most Popular Sports to Bet on at Crypto Betting Sites?

‘Sports’ is a very broad term, encompassing team sports such as football/soccer, cricket and both rugby codes, plus individual sports like tennis, golf and track & field. Most people who bet on sports at crypto sportsbooks tend to focus on a small number of sports only, but which are the most popular sports that are wagered upon?

Football

It should come as no surprise to you when we reveal that football, or soccer as it is known in some parts of the world, is the most ‘bet upon’ sport on the face of the planet. Something like $700bn (that’s billion!) is spent on football betting every year, and around nine percent of that is spent using cryptocurrencies.

There is always a football match taking place somewhere on the globe no matter your local time, so there is always a football match to bet on!

Horse Racing

Horse racing is number two on this list but for decades it proudly stood at number one. Horse racing is where sports betting all began, although legally you could only bet on races while you were present at the course. All that has changed now but people still love to bet on horse in the UK, the US, Australia and the Middle East.

US Sports

Thanks to the relaxing of rules regarding sports betting in the US, betting on sports such as American football, baseball, basketball and (ice) hockey has exploded over the past year or so. People all over the globe have been betting on US sports for the last couple of decades and now US residents in several states can join in too, and legally so! The Super Bowl is the most ‘bet upon’ single sports match each year, with $7 billion worth of bets being placed on American Football’s showpiece event.

Others

Other popular sports available at Bitcoin bookmakers include tennis, golf, rugby union, rugby league, greyhounds and cricket. You can also bet on the burgeoning number of eSports available at crypto sports books, including League of Legends, CS:GO, FIFA, NBA and Dota 2.

How to Bet with Bitcoin

Bitcoin betting is not difficult at all to do, and we are here to walk you through the process.

  • Step 1: You will need a Bitcoin wallet. They are many available and you can sign up for one online in a matter of minutes. Once your wallet is active you can ‘buy’ Bitcoins by linking your bank account, card or eWallet account to your wallet. The transfer will take a few seconds, and fees are minimal.
  • Step 2: Head to your sports betting site and the cashier section. Select the ‘deposit’ option and Bitcoin as your currency. You will be given the bookies’ crypto-wallet address. Head back to your Bitcoin wallet and select ‘Send Funds’. Enter the crypto-wallet address and the amount of Bitcoin you wish to transfer. You may have to include your sports betting account name in the ‘Note’ or ‘Reference’ field. Click on ‘Send Funds’ to complete the transfer.
  • Step 3: Back at your sportsbook find the event that you want to bet on. If you click on the odds of any market you wish to back, this should transfer your bet to your betslip.
  • Step 4: Go to your betslip and enter the amount of Bitcoins that you wish to wager upon your chosen bet. Once you are happy, click the ‘Bet Now’ or ‘Confirm’ button. That’s it, your bet is placed!
  • Step 5: Keep your fingers crossed, hope your bet is a winning one and if it is, enjoy your winnings!

FAQs

What are the best Bitcoin betting sites?

A. The number of legalized cryptocurrency betting sites is small compared to fiat bookmakers, but it’s a number that is increasing all the time. Three Bitcoin betting sites that we would be willing to recommend to you immediately are 22Bet, 20Bet and Sportsbet.io.

Are Bitcoin odds sites anonymous?

A. Yes and no. Most sites will ask you to prove your identity and residency, which is a stipulation of their licensing. Do not try and register at a Bitcoin betting site with false information as there is always the danger the site will find out and confiscate any money you have in your account. Bitcoin transactions are 99.9% anonymous though, although they can be traced if your nation’s authorities think you’ve been up to no good.

Are crypto bookmakers safe to play?

They are as long as they have proper licensing. We recommend that you check any site’s licensing before you complete your sign up there. We also recommend that you stick to sites with licensing from higher tier license providers, such as those in the UK, Gibraltar, Alderney and Malta. If you are in the US, then your bookie must be licensed with your state’s licensing board.

Can I use cryptocurrencies as a payment method for bookmakers?

You can, but of course only at bookmakers that accept cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Dogecoin. The bookies will provide you details of the cryptocurrency wallet you need to send crypto coins to, and how to get them into your online bookmaker account.

It is legitimate and legal to play at betting sites with Bitcoins?

As long as you do not reside in a jurisdiction that has banned the use of cryptocurrencies, then it is perfectly legitimate and legal to play at a betting site that accepts Bitcoins and other cryptocurrencies.

Do I need to pay taxes on my winnings at crypto bookmakers?

That depends on the rules put in place by the lawmakers of the territory in which you reside. In the UK, for example, you do not pay tax on sports betting winnings, but in most states of the US, you do.

How fast can I make a deposit/withdraw winnings from a Bitcoin gambling site?

Deposits made via a crypto wallet should be instantaneous. Your money should be available to wager within a few seconds. Withdrawals should be just as speedy, but some Bitcoin betting sites are slow to process BTC transactions and they could take up to an hour. That’s still better then using Visa card or a MasterCard, or an eWallet.

What are good crypto-wallets for crypto-gambling?

All crypto-wallets are good for crypto-gambling, as your crypto-wallet provider will have no idea as to where your crypto-payments are going or coming from. The most popular crypto-wallets are provided by Blockchain, Kraken, Coinbase, Metamask, Exodus and Electrum.

How do I get Bitcoins into my crypto-wallet?

Bitcoin is currency, just like dollar, pounds, etc. You ‘buy’ BTC by exchanging them for your nation’s fiat currency. You will be able to do this via your crypto-wallet.

Who will see my crypto-currency transactions?

No one. Such transactions are peer-to-peer, which means no one is aware of them aside from the sender and the receiver. Transactions have to be ratified, but that is done via a number of anonymous high-powered super computers spread all across the globe.

Conclusion

With our help we hope we can super-power your sports betting at all the leading cryptocurrency sports books, or at online bookmakers that accept Bitcoin. We will always have reviews of all the newest Bitcoin sportsbooks, plus hints and tips about how you can get the most out of your cryptocurrency betting. Why not bookmark our site and check back daily for the latest crypto sports betting news, including details about the latest beneficial bonus offers and sports betting site promotions?

The best of luck with your online sports betting efforts!