How to Find a Bitcoin Sportsbook

Bitcoin is, in essence, a virtual currency (which many refer to as “the internet of money”). Once you become familiar with a few minor details, Bitcoin is just as easy to use as platforms like Neteller or PayPal. In this text you will learn the pros and cons of using Bitcoin for sports betting, how to find a Bitcoin sportsbook and we’ll represent you with a list of top 5 Bitcoin sportsbooks.

Sports Betting with Bitcoin
Sports Betting with Bitcoin

Pros of Using Bitcoin for Sports Betting

Betting with this important crypto has its pros.

It costs a few cents to convert Bitcoin into fiat currencies and vice-versa. Also, you can deposit the currency in the site without fees in most cases. The same happens when the user wants to withdraw money, almost all sportsbooks charge no fees for withdrawing Bitcoin.

Betting with Bitcoin is safer and faster. As it works with blockchain technology, the payment is processed in a few hours in some sites and it is instant in others. Plus, it is safe to operate with Bitcoin because it is not possible to hack it.

In addition, bitcoin has a higher level of anonymity than other means of payment. The activity can be tracked on the blockchain. However, depending on how you use the currency it can be more difficult to track it.

Cons of Using Bitcoin for Sports Betting

It may seem obvious, but Bitcoin can be very volatile, which is quite problematic for some users. If you are betting for some months, and after all you have just a few more BTC in your wallet, in USD you may have less money. Some users accept this volatility but for others it may be complicated to handle it.

Plus, if you place a bet using BTC and that bet takes more than one week to finish – you may be affected as well by this. If the Bitcoin grows, your amount of winnings can increase. But if it decreases in price, then the amount you win will be lower. That’s why it’s important to choose only the safest Bitcoin Sportsbooks – preferably the ones that convert Bitcoin to FIAT currency in real time and allow you to withdraw in Bitcoin.

Read below how to find a safe and suitable bitcoin sportsbook.

How to Find a Safe and Suitable Bitcoin Sportsbook?

How to find a bitcoin sportsbook?
What are the best bitcoin betting sites?

Before you choose a site from our top 5 Bitcoin sportsbooks, you should focus on the details of the fine print. Each site is slightly different, and those differences may render one better suited to your needs than the rest. But when it comes to Bitcoin, they also share certain similarities across the board, including the following.

Bitcoin to USD Conversion at Your Sportsbook

As mentioned above, this is very important because Bitcoin sportsbooks do this to protect users from Bitcoin’s volatile price action.

“Miner’s Fees” and Your Responsibility

When we say that Bitcoin withdrawals and deposits have no fees, we are not including “miner’s fees.” “Miner’s fees” are always the responsibility of the sender. So they’re your responsibility during deposits and the sportsbook’s responsibility during withdrawals. Read here for more info on “miner’s fees” if you are not familiar with this concept.

Will Safe Bitcoin Sportsbooks Place Betting Restrictions on You?

Some safe Bitcoin sportsbooks may place betting restrictions on you, but that’s very rare. Most of the Bitcoin sportsbooks will allow Bitcoin users to freely wager on the NFL, NBA, MLB, NHL, NCAAB, NCAAF, even on live betting markets, just like any other bettor.

Betting on Sports with a Bitcoin Sportsbook

When it comes down to the type of action you can bet on at Bitcoin sportsbooks, the good news is that you can still bet on all your favourite sports. Bitcoin sportsbooks operate in much the same way as standard online sportsbooks. Hence, it’s highly likely that any sports you enjoy betting on will be available at a Bitcoin sportsbook too.

When placing a bet at a Bitcoin sportsbook, the options will be very similar to those offered at traditional online sportsbooks – for instance, betting on a player or team to win a match or a league under/over bet, and so on.

However, the main difference here will be with the units of currency. Naturally, when placing a bet at a Bitcoin sportsbook, the bet will be placed in Bitcoin. This means that it’s important to be aware of the current price of Bitcoin, especially if players are placing wagers with the fiat equivalent in mind.

This also means that players may place a successful wager and end up with less money than they started with when attempting to withdraw. The most logical way to use a Bitcoin sportsbook is to treat the Bitcoin in your account as a singular currency. Often, comparing it to fiat currencies may be helpful in giving players an overall idea of its worth. But to analyse it on a bet-by-bet basis may be detrimental.

A lot of players play at Bitcoin sportsbooks with the intention of finally cashing any winnings into fiat currencies such as GBP, USD, and so on. If this is the aim of players, it is important to consider the fiat equivalent of any wager placed. Luckily, many sportsbooks will have a live ticker displaying the current price of one BTC on the sportsbook homepage.

Top 5 Bitcoin sportsbooks

In order to help you find a bitcoin sportsbook, we’ve made a list of our top 5 bitcoin sportsbooks:

Stake
Stake

1. Stake

Stake is a popular option for Bitcoin and crypto sports betting for many reasons, including their neat user interface, and the variety of sports they offer. 

While they do not offer a welcome bonus, they are one of the best crypto sports betting sites around in terms of VIP perks, cashback, and bonuses.

Crypto Betting Bonuses

VIP Perks and promotions. No welcome bonus.

Currencies available for deposit

BTC, ETH, LTC, BCH, DOGE, XRP, TRX, EOS

Restricted Countries 

United States, United Kingdom, Australia, France, Netherlands, Italy, Portugal, Czech Republic, Poland and, Slovakia.

Sportsbet.io
Sportsbet.io

2. SportsBet

SportsBet is a great sports betting site that accepts Bitcoin and many other cryptos. The only major flaw of SportsBet is that they do not allow US, Australian, or Estonian punters for crypto gambling.

Crypto Betting Bonuses

SportsBet runs various promotions on a regular basis. Check them out and make sure to opt-in if you want to participate.

Currencies available for deposit

BTC, USDT, ETH, LTC, XRP, TRX,  SOC, EUR, USD, CAD, INR, BRL

Restricted Countries

United States, United Kingdom, Australia, Germany, Netherlands and Estonia.

How to find a Bitcoin sportsbook: Cloudbet
Cloudbet

3. Cloudbet

Cloudbet is a crypto sports betting website launched in 2013. Since then, Cloudbet has expanded its games and sportsbook categories to include every international sport imaginable. Gambling crypto has never been this interesting.

Crypto Betting Bonuses 

100% Welcome Bonus up to 5 BTC/BCH/ETH/PAXG or up to 1000 USDT/USDC/DAI/PAX/LINK.

Currencies available for deposit

BTC, ETH, BCH, USDT, USDC, PAX, DAI, PAXG, LINK.

Restricted Countries

United States and its territories, United Kingdom, Hong Kong and Singapore.

BetOnline
BetOnline

4. BetOnline

It is one of the most popular crypto sports betting sites for US players, even though it’s accessible almost worldwide. 

Since it launched back in 2004, BetOnline has built itself a reputation for being one of the few sports betting sites accepting Bitcoin from U.S. players.

Cryptocurrency Betting Bonuses 

50% welcome bonus up to $1,000, 100% first-time crypto deposit bonus, and many more!

Restricted Countries

United Kingdom, Australia, France, and a few more.

How to Find a Bitcoin Sportsbook: 1xBit
1xBit

5. 1xBit

It was launched back in 2016 and is one of the highest-rated crypto sports betting sites due to its extensive list of games, promotions, and languages.

1xBit is not only one of the best Bitcoin sports betting sites around in terms of betting options –- it’s also anonymous, and the only sports betting crypto site that accepts deposits with more than 20 cryptocurrencies.

Cryptocurrency Betting Bonuses 

Welcome package of up to 7BTC, available for your 4 first deposits! Read the bonus terms & conditions.

Currencies available for deposit

BTC, LTC, DOGE, DASH, ETH, XMR, ZEC, XEM, DGB, BTG, BCH, ETC, BTS, XVG, QTUM, STRAT, XRP, EOS, USDC, TUSD, PAX, USDT, LINK, OMG, BAT, TRX

Restricted Countries 

United States, United Kingdom, Australia, South Africa, Netherlands, Cyprus, and a few more.

However, 1xBit should let you play from anywhere if your IP address shows that you are playing from one of the supported countries, which can be achieved by the use of a VPN.

Conclusion on how to find a bitcoin sportsbook

Your specific location, financial situation, and other reasons may mean that the best BTC betting site may not be the best for you specifically. You might need specific conditions to make your experience enjoyable or even possible where you live and in what financial situation you happen to be.

So, take time to explore extra info relevant to you on how to find a bitcoin sportsbook. After that, register for your three best bitcoin betting websites. 

Experiment with them before settling on one or two. That way you’ll be able to switch between the ones that are the most enjoyable or profitable.