Bitcoin sports betting is a great way for American bettors to use offshore sportsbooks. The cryptocurrency allows bettors to place bets on various sporting events and across multiple lines. When it comes to Bitcoin sports betting, there are even sportsbooks entirely operating on Bitcoin.
Because of the growing popularity of Bitcoin sports betting, we’ve compiled American bettors a guide on Bitcoin as a payment method at US sportsbooks. We’ll look at the best sportsbooks that accept Bitcoin, what exactly Bitcoin betting is, how to choose and use your Bitcoin betting site, and the pros of having a Bitcoin betting account.
What you’ll find in this Bitcoin betting guide:
- What is Bitcoin Sports Betting?
- How to Choose the Best Bitcoin Sportsbook
- How to Deposit Using Bitcoin
- Pros of Using a Bitcoin Sports Betting Site
Best Sports Betting Sites that Accept Bitcoin USA
These are our top picks of the best Bitcoin sports betting websites for US bettors.
To answer this one, let’s first look at what Bitcoin is. It’s a cryptocurrency that can be used online to buy things and fund online accounts like, in our case, a sports gambling site. It’s hugely popular in the States and many have become rich off it.
Now, Bitcoin sports betting is using Bitcoin to fund your betting account instead of actual dollars. You first convert those into Bitcoin and then deposit the Bitcoin into your account. According to the Bitcoin industry, it estimates that almost half of Bitcoin transactions are gambling related.
Choosing the right Bitcoin sports betting site or you can be daunting, especially if you’re new to the scene. BestUSSportsBetting.com has compiled a list of things you should look out for when picking a sportsbook that uses Bitcoin.
- Firstly, find out about that site’s reputation in the industry. It must have a clean record, have been around for some time, and a secure payment process. Check on forums and review sites to find out how it’s doing.
- How easy is it for you to find the most important information on the website? The user interface must be easy to navigate and their data and stats updated regularly. In the fast-moving world of online sports betting, a lag can cost you.
- Find a sportsbook that offers more than just sports betting. Also, compare the bonuses and promotions they have on offer.
This is important to know because after this, you can start betting on your favorite sports. Just follow these steps below:
Step 1: Firstly, you’ll need to have a Bitcoin wallet. You can create one at the various sites online. We would recommend Coinbase or Blockchain.
Step 2: Go to your sports betting site of choice and create an account. Go to the banking section and select Bitcoin.
Step 3: Input how much you want deposited.
Step 4: Usually the transaction is instant and you should be able to place bets immediately.
See our guides for more sports betting banking methods:
We look at the top three advantages of using Bitcoin at an online sportsbook.
1. It’s low cost and has a hassle-free payment process
Almost all Bitcoin transactions are completely free. Therefore, using it to transfer money is quick and cheap. Most sites that use dollars need staff to make sure there is an efficient processing of deposits and withdrawals. Operators don’t need this when using Bitcoin. Furthermore, a Bitcoin sportsbook rarely ask for documentation because they don’t have to follow the heavily regulated security procedures that come with fiat currency.
2. You can be almost anonymous
These transactions are the closest you can get to anonymous when transferring funds. This means your personal information can’t be traced back to you at the Bitcoin sports betting. Well, it’s very difficult and takes a long time. Bitcoin leaves no paper trail, giving it an advantage over fiat currency methods.
3. You get better bonuses and odds
Since the operating costs at purely Bitcoin sports betting sites is less than the standard currency sites, they can provide more competitive odds. Generally, they tend to have better bonuses and odds on average when compared to the fiat currency sportsbooks.