The BTC is currently on everyone’s lips and is also on the rise in sports betting. It can be assumed that cryptocurrencies will become even more important on the payment market in the future. Therefore, it seems only too logical that more and more Bitcoin betting providers are available.
However, these are still rare in comparison to the masses. You can read here which betting providers already offer Bitcoin sports bets:
Another point that speaks for other Bitcoin betting providers in the future is the issue of fees. Because for every payment made by a customer, the betting provider has to pay a fee to the respective payment medium. If he does not have the corresponding fee paid to the customer. Bitcoin sports betting, on the other hand, does not incur such a fee. Bitcoin bets also have advantages for the bookies.
Cryptocurrency payments are anonymous
No indication of user-related data
Payments are usually processed directly
No applicable fees on bitcoin bets
Cryptocurrency is not a stable currency
There are currently not many Bitcoin betting providers
Cryptocurrencies are still a new means of payment that has not yet established itself. That may change in the future. However, only a few online shops and betting providers currently offer BTC as a payment method. Nevertheless, it will probably work the same as with other payment methods. The longer they exist, the more often Bitcoin sports bets will be possible with betting providers.
Before you can make a deposit with Bitcoin sports betting, you must first register with an online exchange. Compared to the past, there are now quite a few of them. There you make a deposit by credit card, PayPal or instant transfer and can then exchange your credit for Bitcoin sports bets.
The bitcoins are then ready on an e-wallet that only you have access to with a password and your username. Then go to your betting account, select “BTC” in the deposit menu and follow the further instructions.
Link the corresponding wallet to the account with the provider.
Select the desired amount of the deposit on the account.
Confirm the transaction and debit the bitcoins from the wallet.
BTC is one of several cryptocurrencies that are well on the way to establishing themselves as a widely accepted means of payment. You can only pay with the BTC online, accordingly also with the online betting provider. Of course only if the Bitcoin sports bets are accepted. In order to get Bitcoin sports bets, you have to register with an exchange and exchange real money for Bitcoins there. You can then transfer the bitcoins from an e-wallet, which you have to set up beforehand, to the betting provider and use them there for betting.
Deposits are via BTC usually directly available. Comparable to a transaction via credit card, Paysafecard or a payment service provider such as PayPal, Skrill or Neteller. Should there still be delays, this is usually due to the respective Bitcoin betting provider.
Bitcoin sports betting is clearly one of the faster payout options. In order to make a withdrawal, however, you must first create a Bitcoin wallet. Once you have done that, your credit may be available in your wallet after a few minutes after a payout from the bookmaker. But the same applies here: The payout time also depends on the processing speed of your bookie .
The same applies to Bitcoin sports betting as to other payment options: There is no uniform value for the required minimum deposit . This is set individually by the bookmaker and therefore differs from betting provider to betting provider. As a rule, however, the values are relatively low in order to enable those betting fans who want to bet with a relatively small stake or with Bitcoin to make a deposit.
The minimum payouts are the same as the deposits: They are determined by the Bitcoin betting provider. Here, too, the majority of the sports betting providers we know are relatively customer-friendly and offer payouts for relatively small amounts. Exact details can be found in the terms and conditions of your bookmaker on their website.
Also with regard to Bitcoin bets, problems can always arise. It can happen that a deposit or withdrawal is not processed. When making a deposit, there is usually a technical error, and when making a payout, the respective Bitcoin betting provider is often responsible. If difficulties arise, it is important to remain calm and not to panic. Go directly to the live chat or, if not available, write an email to customer support . State your request there. In most cases, the problem should then be solved.
How cryptocurrencies work is not easy to understand at first, which is why we want to explain them as simply as possible at this point. Payments with bitcoins are processed virtually, incoming and outgoing money is stored on virtual intermediate accounts, similar to an e-wallet. Units of bitcoin are generated by what is known as mining. Users who trade bitcoins can participate in the creation of new bitcoins by using computing power. Unlike traditional currencies, the BTC is not subject to any central bank control.
ie and where can I buy bitcoins for sports betting? You can buy BTC on various virtual exchanges and platforms. To do this, you must first open a corresponding e-wallet. The price of bitcoin rises and falls steadily. You can purchase a BTC at the current rate by paying real money via online banking or with a credit card. According to our current state of knowledge, the currently largest platform on which you can buy bitcoins is the German website bitcoin.de .
I n principle, Bitcoin is a serious and secure means of payment. However, we would like to point out at this point that this is still a virtual currency that is in its infancy. In concrete terms, this means: Bitcoin bets and other cryptocurrencies are relatively experimental, and the courses are also subject to strong fluctuations. We would therefore first recommend paying small amounts to see whether payment transactions with the virtual currency have proven themselves over a longer period of time.
Bitcoin: With a market share of around 67%, it is clearly the most important virtual currency. BTC has been around since 2009 and its market capitalization is more than 165 million US dollars. If a bookmaker offers a virtual currency as a means of payment, it is usually Bitcoin sports betting.
Ether: Holds an 8.1% market share with a market cap of more than $19 million. Ether has been around since 2015, and the currency has other features like smart contracts.
XRP: XRP is a non-blockchain payment system. The cryptocurrency has existed since 2012, its market share is 7.3% and a market capitalization of more than 12 million US dollars.
BitcoinCash: BitcoinCash, known as BHC for short, has a market share of 2.1% and its market capitalization is more than 5 million US dollars. BitcoinCash is not very common, but it still ranks 4th in the TOP 5 cryptocurrencies.
Tether: the cryptocurrency Tether holds a 1.7% share of the market, making it the 5th most important cryptocurrency. The market cap is just over $4 million. Interesting: The cryptocurrency is traded 1:1 to the US dollar.
If you are careful not to disclose any personal data, a virtual currency such as BTC can be worthwhile. For everyone else, the payment method is not necessarily relevant. On the one hand, the BTC is a rather unstable currency that is subject to strong fluctuations. And on the other hand, a suitable e-wallet must first be set up and a suitable bookmaker found that offers Bitcoin sports betting and other virtual currencies as a payment method. From our point of view, cryptocurrencies for sports betting are currently a nice option, but they should not be of interest to everyone.
Bitcoin sports bets are interesting for those betting enthusiasts who want to make comparatively “anonymous” payments or disclose as little personal data as possible. However, this also applies to other payment methods such as the Paysafecard. Basically, from our point of view, there should already be an interest in cryptocurrencies, otherwise using it with the betting provider does not make much sense and also involves a risk, because the BTC is subject to strong price fluctuations.
In general, cryptocurrency payments are legal . However, you should still be a little careful when choosing your bookmaker. Because payments via BTC and Co. are anonymous processes.
This in turn also offers dubious betting providers the opportunity to earn money with sports betting , since payments cannot be traced back. So take a look at the website of your potential bookie and check whether they state their location in the imprint. Searching Google for the experiences of other customers can also help. So you can be sure that the favorite Bitcoin betting provider works seriously.
We are noticing that more and more Bitcoin betting sites are popping up and we expect that there will be significantly more in the future. That’s why we keep updating our overview “The TOP 5 Bitcoin betting providers 2022” as soon as we discover a new bookmaker where you can pay with the virtual currency. A regular look at the overview can therefore be worthwhile if you are looking for a Bitcoin betting provider.
With Bitcoin sports betting, betting fans can make payments to the betting provider relatively anonymously . This is what makes the cryptocurrency interesting. In addition , funds move quickly and easily from A to B if customers have a corresponding e-wallet at their disposal. However, newcomers should first deal with the topic of Bitcoin bets or cryptocurrencies thoroughly. Only then can you understand what is hidden behind the virtual currency in detail.
Anonymous: Payments with Bitcoin sports betting are initially anonymous. Therefore, the bookmakers are not subject to any regulations if they want to offer transactions via BTC. It is therefore essential to check how serious the betting provider is before you open a new betting account there.
Check details: Since you cannot undo payments, you should pay close attention to naming the recipient correctly. If something goes wrong, your credit is gone. So be sure to check a second time whether all the information has been entered correctly.
Convert to real money: If there is a payout on an exchange platform where you want to convert your Bitcoin sports bets into real money, you must identify yourself. In this case, anonymity no longer applies, but rather German law.
Bitcoin wallet: In order to be able to pay out bitcoins, you absolutely need a BTC wallet that can be managed in bitcoins. Therefore, make yourself smart in advance and open a corresponding virtual interim account.
In addition to Bitcoin sports betting, there are some payment methods that have been established at bookmakers for years. These are available from most bookmakers. In addition to the classic bank transfer, these are the credit cards VISA and Master Card, e-wallets such as PayPal, Neteller and Skrill as well as various online banking services. The Paysafecard is also enjoying the
Cryptocurrencies are becoming more and more popular, this is especially true for Bitcoin sports betting. Betting providers have also discovered BTC as a means of payment and included it in their payment portfolio. However, Bitcoin betting providers such as Cloudbet or 22bet are still the exception. The advantages of Bitcoin sports betting lie in the anonymous payments and fast processing. On the other hand, it is unfortunately subject to strong price fluctuations again and again. In addition, dubious betting providers can also use the BTC, since payments cannot be traced back. Therefore, first check how the respective bookie is doing in terms of seriousness.
Bitcoin sports betting is currently a nice additional option. At the same time, however, they are still too immature to be serious competitors for established payment methods such as VISA and Mastercard, PayPal or Paysafecard. We are very excited to see where the Bitcoin sports betting journey is headed and how many new Bitcoin betting providers will be added.