Crypto Betting | Understanding Betting Online 2022

Your Crypto Betting Guide

If you are interested in crypto betting and want to learn more about how to bet on crypto, you’re at the right place. Here is our take on everything you need to know about betting on sports using crypto.

Cryptocurrency or crypto is a virtual currency that uses cryptography to secure transactions. It is similar to the account balance you have on your banking app or on your bank’s website. The difference is that cryptocurrency doesn’t have a regulating authority, but the balance you have in your account relies on a central authority, which is commonly the government.

Following the achievement of the earliest cryptocurrency, which is Bitcoin, numerous other cryptocurrencies were introduced to the public. There is a wide range of cryptocurrencies available, such as Solana (SOL), Ethereum (ETH), and Tether (USDT). Today, cryptocurrencies are used for various purposes and one of them is crypto sports betting.

Sports betting is a widely acclaimed type of gambling. The initiation of cryptocurrency into the sports betting world has only expanded the range of it.

Crypto sports betting involves betting on sports using cryptocurrency saved in crypto wallets.

Is it Worth Betting with Cryptocurrencies?

There are several advantages of using cryptocurrency to bet on sports, but we will focus on the top three in order to show the most crucial elements.

First of all, crypto betting sites are often safer than traditional sites and casinos. Crypto coins are terribly difficult to hack and provide much greater security than conventional deposit methods.

Secondly, cryptocurrency offers a faster and more convenient way of transaction. It is common to face challenges while transacting in currency exchange on foreign sites, but trading crypto currencies is much easier.

Lastly, you can obtain additional privacy benefits when using crypto in betting. Anonymity and privacy of players are secured by crypto sports betting.

Best Cryptocurrencies for Sports Betting

There is a splendid array of reasons why individuals start getting interested in cryptocurrencies.

Some people purchase Bitcoin as a means of investment and others get meme-based currencies like DogeCoin to shop from online retailers.

Solana is another preferred option because it allows people to perform fast, convenient, and cheap transactions.

As we mentioned before, cryptocurrencies are great methods of payment when you are betting on sports online. There are plenty of options out there to use only for this particular task. Below, we have listed some of the best crypto payment options for sports betting together with the reasons why you should choose any of them.

Solana (SOL): This one is placed on top of our list for a reason: Solana has been approved to be able to take care of more than two thousand transactions per second.
Ethereum (ETH): Ethereum is more often adopted than Solana although it is a bit slower than that, with approximately 12 to 25 transactions per second.
Bitcoin (BTC): Bitcoin is the first and still the most widely-known cryptocurrency option available. If you have already gotten Bitcoin, you will find endless possibilities using it to bet on sports.
Tether (USDT): If you have recently started taking an interest in cryptocurrency, Tether or USDT is possibly the easiest crypto to use out there. USDT is pegged to the US dollar and therefore theoretically it should be unchanged by the market volatility.

Best Sports Betting Sites for Crypto Betting

Today, there are hundreds of sports betting sites allowing players to deposit using cryptocurrency. Therefore, it is quite challenging to find a betting site that is legitimate, safe, and suitable for your needs. Here are our tips for you to make the choosing process go more smoothly:

Know What You Are Looking for

The first step of discovering the best option for you is knowing what you want to have on a sports betting site. We recommend you to ask yourself some questions in order to find out, such as: What sports do you want to bet on? Are you interested in trying a certain type of bet? How often do you plan to place bets?

Check out Site Reviews

Site reviews are often great resources if you want to learn about everything that has made other players happy or unhappy with certain sites. Here, you can check out our reviews of the best online bookmakers out there.

Compare a List of Different Sports Betting Sites

As you have a list of several different sports betting sites, it is always a good idea to go through all of them and compare them with each other. This means you should actually visit the sites yourself after reading the reviews.

Cross Out Some Options

The last step is to know your deal-breakers and eliminate some of the options on your list.

Fortunately, we have saved you the hard work of making your own list. Here is our list of top 10 sports betting sites for crypto:

Paf
Betsson
Mr. Green
Casumo
ComeOn
Leo Vegas
Betsafe
Unibet
William Hill
10bet

How to Bet with Bitcoin

Bitcoin is the most commonly used cryptocurrency by bettors since it is accepted by almost every sportsbook online.

The first step to bet with Bitcoin is to choose a licensed and secure betting site that admits Bitcoin as a deposit method. Some other crucial features to look for on a crypto betting site include available sports, bonuses and promotions, betting odds, and deposit fees.

After having discovered the best sports betting site, you need to sign up to the platform and make some deposits using your Bitcoin wallet. The last step is to bet on the outcome of a sports event.

Sports Betting with Bitcoin Step by Step

We have made this step by step guide on how to bet on sports using Bitcoin to help you understand the process better.

Step 1: Discover a licensed and secure sports betting site that permits you to make a deposit using Bitcoin. Also, ensure that it is the most suitable site for your needs based on the features it provides.
Step 2: Sign up for the website.
Step 3: Make sure your Bitcoin wallet is loaded with the minimum amount that you plan to place on bets.
Step 4: Now it is time to transfer some Bitcoin from your wallet to the betting site. In order to understand whether you have put the right wallet address, make a trial deposit first.
Step 5: Choose a sports game or an event that you want to bet on.
Step 6: Explore a bet that you prefer regarding the odds.
Step 7: Put a bet using the payment you have made with Bitcoin.
Step 8: The last step is simply to wait for the bet to be confirmed by the site.

Tips and Tricks on Sports Betting with Bitcoin

Below, we have listed some tips and tricks on sports betting using Bitcoin. You can benefit from them to make the betting experience more effective for yourself.

Always make a test deposit of a much smaller amount before you transfer the whole amount. This way, you can make sure you filled in the right address.
It is crucial to read the reviews of the betting site you choose to use your Bitcoin in order to see if the site is licensed and secure. Otherwise, you may wind up being scammed.
Ensure you keep the information about your own Bitcoin wallet private. Sports betting sites don’t require that information for deposits.
The value of Bitcoin currency changes constantly; it may differ even every day or even every hour. In order to make sure you receive the right amount of betting credits we recommend you to check the price of Bitcoin first.

Sports Betting Using Cryptocurrencies vs Other Banking Methods

Even though there are many similarities between sports betting using cryptocurrencies and betting with other banking methods, such as Bank Transfer, Skrill, and Neteller, there still remain many differences between them as well.

After making deposits, you will need to pick a bet for a sports event, and you will need to check out the odds, whether or not you are using crypto. The deposit method is the only difference between both betting types.

If you want to use a regular banking method, you will need to either have a bank account or an e-wallet, which also means that you need to open a bank account so you can transfer money to your e-wallet. However, when using cryptocurrency you need a crypto wallet, which is completely different from a bank account.

Another big difference between sports betting using cryptocurrency and other banking methods is anonymity. You can be anonymous when you make a deposit with cryptocurrency.

Finally, there is the issue of transaction speed and fees. It is likely to wait for more than a day to complete a transaction when using regular banking methods to make a deposit. On the other hand, you can transfer instantly with crypto currency.

All you need to know about: Crypto Betting