Crypto Betting Sites
Bookmakers were among the first to wholeheartedly embrace cryptocurrencies. Bitcoin was the first digital money to get worldwide recognition, so it was the obvious beneficiary of this enthusiastic adoption. Today, it is easy to find crypto betting sites and some of the biggest names in the industry offer this type of gambling. The same account grants access to traditional sports and video games betting, as well as casino games, bingo and poker. Punters can bet on esports and enjoy competitive odds, as well as generous bonuses for the first and subsequent deposits.
Is Betting with Crypto Legal?
Legality is a sensitive issue when it comes to Bitcoin betting. The cryptocurrency itself is insufficiently regulated and often punters operate in a grey area. In theory, you should be able to legally place crypto bets if gambling is allowed in your country of residence. This also goes for casino games, poker and other forms of gambling if they are not expressly prohibited by national laws. In practice, many punters choose esports betting with crypto precisely to circumvent the prohibitive regulations. They appreciate the enhanced privacy that allows them to fly under the radar without compromising security.
The Best Crypto Gambling Sites in 2024
Today there is no shortage of crypto betting sites and punters can easily find an online gambling operator that accepts digital money. The only challenge is to find the best crypto betting sites and this is where things get complicated. That’s because there are plenty of things to consider, ranging from legality and security to quality of odds and bonuses. While there is no definitive answer and many bookmakers can meet your expectations when placing crypto bets, some operators stand out from the crowd.
A quick glance at our Bitcasino.io review will highlight the fact that this is one of the top bookmakers for esports betting with crypto. The name speaks for itself and in addition to Bitcoin, it allows punters to deposit and wager in other coins. New depositors are greeted with a generous welcome bonus and there are ongoing promotions for active punters. Reasonable wagering requirements and competitive odds provide additional arguments in favour of giving them a chance.
Research goes a long way and if you read the Sportsbet.io review you will be tempted to check it out. As one of the crypto betting sites out there, it has created an excellent ecosystem for digital money fans. You can deposit funds instantly and cash out profits with no delays and without paying fees. This means that all the money you transfer in can be used for gambling and you fully enjoy your winnings. They also have cool bonuses for new and existing players which can be claimed on computers and mobile devices.
How to Gamble with Cryptocurrency
One of the main reasons why punters are still reluctant to join crypto betting sites is that they don’t understand how digital money works. The good news is that there are 5 steps to have an account up and running and place crypto bets. Even absolute beginners will have no problem in figuring things out.
- Set up a cryptocurrency wallet – this can take a few minutes but once you have the wallet ready, you can use it for other purposes. Invest in cryptocurrencies or use it to buy stuff online quickly, safely and privately. It is a long-term investment that will pay dividends in more than one way.
- Buy cryptocurrency – depending on the type of digital money accepted by your crypto betting sites of choice you need to pick one or another. Bitcoin is almost certain to be accepted at any bookmaker, but there are plenty of options worth considering.
- Choose an esports book – this is the most important step and you need to choose one of the best esports betting sites. Do as much research as needed because this will be a long-term partner that will provide you with competitive odds and generous bonuses.
- Deposit and claim bonuses – most crypto betting sites will offer welcome bonuses for new players. Take advantage of such an opportunity and have your first deposit matched. Pay attention to the wagering requirements so you have a decent chance of cashing out the bonus and winnings.
- Choose a game for betting – place your first crypto bets on esports that you are familiar with. You should ideally bet on a videogame that you have played previously and one that you understand. This is particularly important if you decide to tinker with special markets and in-game events.
Top 5 Cryptocurrencies for Online Gambling
Bitcoin is the alpha and omega when it comes to cryptocurrencies but it is by no means the only one accepted by online bookmakers. You’d be able to place crypto bets at most of the important bookies using one of the many altcoins. There are dozens of such alternatives out there, but not all are accepted at the top esports books. If you don’t know where to start, these five are definitely worth considering.
- Bitcoin – it is the cryptocurrency that started it all and the first to be accepted by online bookies. It will continue to dominate the market and you’ll be able to use it at any sportsbook where digital money is accepted. It is the easiest to acquire and also a popular investment instrument.
- Bitcoin Cash – the name speaks for itself and anyone who trusts Bitcoin is just as confident in its spinoff. This is a fork of the original cryptocurrency and one that has gained a lot of traction in recent years. It is used worldwide and not surprisingly, it is accepted at most online bookies.
- Ethereum – followed a different trajectory to the top and it is now the second most valuable cryptocurrency. It was developed on the blockchain and it is easy to find bookmakers that accept it for gambling. This also works as a fine investment tool, so you hit two birds with one stone.
- Litecoin – this digital money is also popular at esports betting with crypto as well as investors. Since it is one of the top cryptocurrencies by market capitalization, it is unlikely to go away. Easy to acquire and trade, it can be used for more than online esports betting.
- Monero – is the new kid on the block, but in spite of being a newcomer, it enjoyed meteoric growth. Since it was released in 2014, it has emerged as one of the most secure cryptocurrencies for sports betting. It is also celebrated for its privacy and the focus on decentralization.
The Pros and Cons of Gambling with Cryptocurrencies
Pros:
- Enhanced privacy and security
- Bigger bonuses and better promotions
- Provably fair games in the casino section
Cons:
- Crypto betting sites are less numerous
- Punters need to acquire cryptocurrency for betting
The Difference between Crypto Betting Sites vs Traditional Betting Sites
Crypto betting sites are relatively new but they’ve gained a lot of traction in recent years. Even so, they are far less numerous than classic ones that focus on fiat currency. A fraction of them chose to accept exclusively digital money, but many will accept both types of deposits. At the time of writing, even though cryptocurrencies are very popular, bookmakers can’t afford to miss out on conservative punters.
Hybrid crypto betting sites allow punters to enjoy the best of both worlds. They can switch from the two types of cryptocurrencies but must use the same payment method to deposit and withdraw. Crypto-exclusive sportsbooks and casinos have a more limited scope and fewer members. They compensate through bigger bonuses and generally better promotions, so they have the more generous deals.
Tips for Betting with Cryptos
Cryptocurrency betting isn’t rocket science and punters can be just as successful regardless of the currency used. Once they set up an account and acquire the cryptocurrency accepted on the website, they are good to go. From this point onward the same things that help them succeed at a classic esports book apply here. These are the top three things to remember if you are to be successful in your quest:
- Bet at a legitimate bookmaker – crypto betting sites can still be licensed by respected regulators. Choose one that has such a valid license and enjoys a solid reputation internationally. Read what fellow players have to say as well as the critics before signing up for an account and depositing.
- Seek the best esports bonuses – there is tremendous competition between bookies and you should not settle for second best. Choose welcome bonuses that are both generous and easy to meet, by paying special attention to the wagering requirements. Ongoing promotions are just as important.
- Stick to the esports you know – the best chance you’ve got to place winning bets is to stick to the game you know. Play it first and watch a few professional games to know what to expect. Stick to the mainstream markets before you get proficient and ready to switch to special in-game events.
FAQs
The advantage of cryptocurrencies is that they provide an extra layer of security. Your gaming activities will stay private and authorities won’t have the means to confiscate your money. Having said this, always stay in complete accord with the law and seek bookmakers that are licensed and regulated.
The main advantage of esports betting with crypto is that you won’t be subject to fees and commissions. All the money you deposit can be used entirely for gambling and you get all the profits you make. The only fees are the ones you pay when acquiring cryptocurrency from online exchanges.
Bookmakers impose certain limits for deposits and withdrawals regardless of the accepted currency. The good news is that cryptocurrency deposits have much lower and higher limits for transactions. This is something that benefits both recreational punters and high-rollers, as it gives them more flexibility.