The sports betting industry has swayed toward Bitcoin as a tremendously popular banking method in the past few years. Nearly all online sportsbooks now accept Bitcoin and often encourage players to use this method of banking.
Bitcoin has taken over the sports betting industry, and every bettor should understand the cryptocurrency.
The acceleration of Bitcoin has shown the direction that the betting industry is moving in the future. If you utilize cash for online sportsbooks, you should consider making the switch to Bitcoin because of the benefits that the cryptocurrency provides to bettors.
Is It Safe to Bet with Cryptocurrency?
A significant reason that people stay away from utilizing cryptocurrency banking for sportsbooks is that they feel that it’s an unsafe or illegal payment method. This is a false statement.
Bitcoin is safer to use than a credit card when it comes to online sports betting. It’s also a legal banking method, so there’s no harm in utilizing Bitcoin.
Processing transactions are much quicker with Bitcoin than other banking methods. This means that your personal information clears quickly and leaves little time for hackers to steal data.
Bitcoin transactions have the capability of clearing within a few minutes. The longest they typically take is up to a few hours. This is not the case for other banking methods that are utilized on sportsbooks.
Bitcoin also has some level of anonymity. Some Bitcoin sportsbooks don’t even require players to create an account, so there’s no need to enter personal data. These are some of the key reasons why Bitcoin sports betting is very safe.
How to Gamble Your Favorite Sport with Bitcoin
Many bettors wonder, “How do you gamble with Bitcoin?” This may be a surprise, but gambling with Bitcoin is straightforward.
The first thing that you’ll need to do is register for a Bitcoin wallet on Bitcoin’s website. You’ll need to buy coins from other users or mine them yourself. After you complete this step, you’ll be ready to deposit Bitcoin into your online sportsbook account.
Go to the deposit section of your online sportsbook and select Bitcoin as your banking method. You’ll be provided with a web address to enter into your Bitcoin wallet. Put this address into your Bitcoin wallet and enter the amount that you’d like to transfer.
Once you deposit your funds, Bitcoin will be converted to US currency. The best advice for betting with Bitcoin is to research your wagers.
Never place a bet without knowledge of the game. Betting with Bitcoin is the same as gambling with USD. You don’t want to place a bet on a whim.
Some key things to look at when betting on sports is the team’s records, injured players, home/away, and past statistics. These are the basic concepts that professional handicappers utilize when betting on sports.
Best Sportsbooks for Bitcoin
Bitcoin is an excellent banking method for online sportsbooks. However, not all books were created equal when it comes to Bitcoin betting.
Nearly all books don’t take processing fees for Bitcoin deposits. However, only some books offer huge bonuses for players who use Bitcoin for online banking, so consider these books in particular.
According to Safest Betting Sites, here are the best sportsbooks for Bitcoin, along with the information for deposit bonuses, coupon codes, and payout methods.
BetNow
BetNow has always had a good connection with the United States meeting market. They offer a wide variety of sports, with tons of betting options for each. BetNow is also known for giving bettors many different deposit method options and includes rapid withdrawal processing. The sportsbook is based out of Curacao and provides an excellent bonus for new players!
MyBookie
MyBookie has always been top-notch with sports bettors. One of the biggest attractions to MyBookie is their ability to put together such fantastic customer service. The folks at MyBookie take care of their customers! Look for outstanding deposit bonus offers, along with safe and easy deposit methods. Users have determined when using MyBookie that their desktop and mobile software were both “excellent.”
SportsBetting.ag
Get some of the best deposit bonuses in the business just for signing up and depositing real money at SportsBetting.ag. That’s a great way to start your time there. Once you have gotten into SportsBetting.ag, you will find very generous odds. Then, when you win, you do not have to wait forever to get your money. SportsBetting.ag has always been found to provide outstanding service from the payout department.
How to Convert Bitcoins to Cash
If you do your research on sports betting, you should come away with some solid payouts. Withdrawing funds with Bitcoin is just as easy as making a deposit.
When you deposited funds with Bitcoin, the currency was automatically converted to USD. The same concept applies to withdrawals. Your account balance in USD will be converted to Bitcoin.
Bitcoin can be highly volatile, so make sure you’re constantly checking the price of the cryptocurrency. When you’re ready to withdraw, select Bitcoin.
You’ll be taken to a new page that features a transaction ID, the amount you’re withdrawing, and the conversion rate. Enter your Bitcoin wallet client as well as the Bitcoin address where you want your funds sent.
This information must be correct because you can’t recover lost Bitcoin funds. You should receive your Bitcoin within 48 hours, but the transaction times are often much quicker. The best books withdraw funds within a few hours.
Conclusion
Sports betting with Bitcoin is the way of the future. The industry has gravitated towards Bitcoin, so bettors should be informed of the benefits of the cryptocurrency.
Bitcoin is faster, safer, and just as easy to use as other banking methods. For these reasons, bettors should utilize Bitcoin when betting on sports.
