Bitcoin betting sites allow Americans to use the cryptocurrency to fund their sports bets. This relatively new form of currency has grown significantly in popularity over the last few years. Thus, it is unsurprising that so many great sports betting sites would allow players to make deposits and withdrawals using this banking method. There are so many great advantages to gain by using Bitcoin at online sportsbooks that avid US bettors really need to take notice of.
We created this guide to highlight all the important aspects of Bitcoin sports betting sites. So, read on down below and learn where you can use the online gambling banking method and why you should use it. Some of the topics we touch on include how to make deposits using the currency and the advantages and disadvantages of using betting sites with Bitcoin.
Best Sports Betting Sites That Accept Bitcoin
These are the top-rated Bitcoin betting sites in America. Players can look forward to making quick deposits and withdrawals when using these options:
What You’ll Find In Our Bitcoin Betting Sites Guide
- What is Bitcoin?
- How to Make Deposits at Top Bitcoin Betting Sites
- Why Use Betting Sites That Take Bitcoin?
- Disadvantages of Sportsbooks That Accept Bitcoin
- Bitcoin Gambling FAQs
Bitcoin is a cryptocurrency that can be used to purchase things, such as goods and services, and in this case, fund bets. With the cryptocurrency being a purely digital form of banking, those who use it do not require the services of a bank to process the transaction.
Many Americans may have already heard of Bitcoin before. The cryptocurrency shot to fame in 2017 due to the massive gains it made with regards to value. During this period, a Bitcoin trading fever took hold of the nation as people everywhere sought to make fortunes with the cryptocurrency. As a result of all this, it is now possible to purchase goods and services across all sorts of vendors using Bitcoin.
Making deposits into your account at top sports betting sites accepting Bitcoin is really easy! All you need to do is follow the steps we have highlighted down below, and you will be good to go:
- If you are going to make any sort of transaction using Bitcoin, you are going to need to get yourself a Bitcoin wallet. There are several available online so it won’t be difficult to find or get one. Our experts recommend using Coinbase or Blockchain.
- Select one of the top Bitcoin sportsbooks that you would like to use and create an account. Navigate to the site’s banking section and select the Bitcoin option.
- Determine how much you would like to deposit into your account. Make sure to select an amount that you can live with as you should never deposit more than you can afford.
- Should the transaction be processed successfully (which it should), you will now be able to place sports bets on the site.
It is important to note that the best Bitcoin betting sites make use of their own banking processes. The method outlined above is just a guide, and it may differ slightly from site to site.
Check out our other popular banking guides:
There is a load of great advantages to be experienced when making deposits at the best Bitcoin betting sites. Some of the most noteworthy have been listed down below:
- There are relatively low banking charges when using Bitcoin. As nobody really “owns” the cryptocurrency as a whole, the only fees you’re really going to incur when using it are processing fees. For example, some of the best Bitcoin sports betting sites charge withdrawal fees and thus bettors may have to pay a small withdrawal fee to the site.
- When using Bitcoin to fund your sports betting ventures, deposits will reflect instantaneously. This means hassle-free betting when gambling online.
- If you fear your personal information getting stolen while betting online, Bitcoin may be the best option to you. As it works similar to an e-wallet system, US gamblers do not have to share any of their personal details with the site when making a deposit. It is important to note though that most betting sites Bitcoin will require you to show a utility bill to confirm your identity when making a withdrawal.
- The best Bitcoin gambling sites offer players wonderful cash bonuses as an incentive to sign up. Basically, these bonuses have the potential to extend the length of your dollar, which means more bets. Often, the best Bitcoin sportsbooks have unique bonuses tailored to gamblers who use the cryptocurrency as their deposit method.
Unfortunately, there are a couple of disadvantages that come with using Bitcoin as your main banking method at online sportsbooks. Some such drawbacks include the following:
- The cryptocurrency’s value constantly fluctuates in erratic patterns meaning that it is very possible that it could have been worth a lot more a few weeks ago than it is today. This puts a lot of people off dealing with the currency in general.
- Bettors will be required to pay tax on any of the gains they receive off of Bitcoin gains, which really isn’t a problem with other banking methods.
- Bitcoin transactions aren’t reversible. This means that you better be very sure that you want to make a deposit into your account when gambling online with Bitcoin.
Can you gamble with Bitcoin?
Yes, you can. Most of the online betting sites featured on Gambling360.com allow bettors to use Bitcoin as a banking option.
How do I place a bet with Bitcoin?
The process is simple. All you need to do is sign up to a Bitcoin betting site, make a deposit, select the wager you would like to place and press confirm. All you need to do now is wait for the results of your proposed bet.
What is the best Bitcoin sportsbook?
While this answer changes on a regular basis as sportsbooks consistently revise their services, these are the top-rated Bitcoin sports betting sites at the moment:
Are Bitcoin sportsbooks safe to use?
This depends on which online sports betting site you choose to use. We recommend that you make use of one of the options listed above. Here at Gambling360.com, we review every site we recommend, so you can rest assured that it is safe to use.
Is Bitcoin betting legal?
The one thing to note is that mostly offshore sportsbooks offer Bitcoin as a deposit option. Most US states don’t prohibit online gambling, they simply don’t like it. You can gamble as much as you like at Bitcoin sportsbooks without fearing legal prosecution. We recommend using one of our recommended sites as they are safe to use.