Crypto sports betting
Crypto sports betting and 10 best crypto betting sites we have gathered for our readers. Using cryptocurrency in betting is convenient, profitable and safe. It’s important to understand the differences between crypto bookmakers that support such currency and to understand how they work.
Two types of crypto betting sites
Altcoins continue to gain popularity. When using them, you get anonymity, commissions are ridiculous and transactions are protected. Clients of betting companies that support cryptocurrencies get all these benefits. But there is a nuance here, they need to be distinguished by an important attribute:
- Bookmakers with cryptocurrency deposits and withdrawals – they are essentially no different from regular bookmakers. Their organisers add new deposit and withdrawal methods for convenience. At the same time, the company remains centralised and all the problems inherent in such projects remain.
- Blockchain-based bookmakers – if a project is set up on its own blockchain or through a popular platform, this guarantees the integrity of transactions. The system is decentralised and security is increased. Customers’ funds are not managed by anyone, and they receive their winnings through smart contracts, which guarantees that they are received.
Naturally, it is better to give preference to the second option. Blockchain technology is regarded by every expert as the future of the internet. It has a great future in absolutely all spheres. Most importantly, it will avoid false accusations from the administration and long periods of “wresting” winnings from their balance sheets.
Best crypto betting sites
Why are bookmakers with cryptocurrency betting so attractive?
The first and most important advantage of any crypto betting platform is security. When blockchain is at the heart of betting, funds are distributed via smart contracts. No one can interfere with their execution. When a bet is opened, a contract is created in which all the conditions are set in advance and, depending on the outcome, the client either wins and receives a win or loses. There cannot be any other options.
There are nuances, such as those associated with high volatility. It is possible that once you top up, the coins will drop in value and you will lose something. However, they have only gained in value in recent years, so this feature is better seen as an advantage. Other pluses:
- Deposits and withdrawals are anonymous, no personal details need to be entered, it is almost impossible to trace transactions;
- All transactions are instantaneous. There is no hold, as soon as the event has taken place, the winners are immediately identified to whose accounts the winnings are sent;
- Blockchain-based bookmaker clients are guaranteed to receive payouts, this is built into the smart contracts, there will be no problems or accusations that you have tried to cheat someone;
- Cryptocurrency networks have the lowest commissions, so you won’t get ripped off when making deposits or withdrawals.
Decentralization on the one hand looks like a clear advantage, but it also has a downside. For example, support will not always be active, or it may not be available at all.
Right now, about 1% of sports betting is done in cryptocurrencies, of which more than 80% is in Bitcoin, Ethereum and Litecoin. The figure is not a small one, given how big of a market it is. Many experts believe that the numbers are about to change dramatically.
By the way, by signing up to one of the top USDT sports betting sites you kind of take advantages of both – fiat and crypto betting.
How to choose a crypto betting site?
When looking for a quality service (whether for betting or not), you need to evaluate each crypto betting platform according to many factors. Just as with conventional bookmakers, crypto sportsbook sites are different. Before you sign up or place a big bet, it’s worth comparing them on the following factors:
- Favourable odds;
- Support for smart contracts;
- User-friendliness of the interface;
- Security levels;
- Loyalt program;
- Bonuses and gifts;
- Choice of sports;
- Available cryptocurrencies;
- Types of sports betting;
- Responsiveness of support.
As long as there aren’t many cryptocurrency betting sites, it won’t take you long to check. Don’t chase big bonuses if, on all other parameters, the crypto bookmaker is losing out. You need to consider the factors presented in the aggregate.
And in general, it’s better to register with the best sites (presented below) and try to make bets, because you’ll still definitely get payouts from them. Without personal experience, drawing conclusions is meaningless.
How to deposit with a bookmaker in cryptocurrencies?
Reliable betting sites that use blockchain do not work with fiat money at all. Therefore, to use them, you will have to get the cryptocurrency first. In general, the depositing procedure is no different, you go to your personal cabinet, choose the currency you want and click the button:
In our case it is Bitcoin. After pressing the button, the system generates a wallet address to which coins need to be sent. Now you can go into your wallet and make a regular BTC transfer:
For those who do not use cryptocurrency wallets, exchangers are helpful. Bestchange helps to find reliable exchangers with favourable rates. Go to the main page, choose the direction of exchange (for example, from Visa to Bitcoin) and a table with reliable sites appears:
You have already received the BTC address for transferring funds to your betting site account, so you can fill in the form right away. All you have to do is specify your payment details and the amount:
After creating the application, you will receive the number of the wallet to which you need to transfer the money. As soon as the exchanger administration receives the funds, they will instantly send the Bitcoins to the specified address, i.e. to your bookmaker account. This usually takes no more than a minute, so you can start betting on sports right away.
How do I withdraw money from cryptocurrency betting site?
Receiving winnings is similar to the depositing procedure. You can get the crypto to your wallet or use exchangers. In the withdrawal section you only need to specify the amount and the wallet number:
Altcoin users need to enter their address, and if you’ve never used cryptocurrencies, head to BestChange monitoring. There you need to select the opposite direction, for example Bitcoin and PayPal. Similarly, a list of exchangers appears, sorted by the most favourable exchange rate:
Choose any of these and go on to fill in the form. Here you will need to specify where you want the money to go. Just give your wallet number. After creating the application, the exchanger gives you the cryptocurrency wallet address to which you need to order a payment from the bookmaker.
Next it’s simple, Bitcoin sent to the exchanger’s account, converted into euro or other currencies and sent to the user. Usually the transaction takes only a few minutes, much depends on the exchange destination chosen.
Cryptocurrency betting, is it safe?
Although some people are still afraid to use digital coins, the volume of cryptocurrency betting is constantly growing and interest is being fuelled. Cryptocurrency is gradually evolving and the scope of its use is expanding. As of 2022, cryptocurrency betting accounts take for around 40% of total betting volume. A few years from now, it will become quite commonplace. That’s because using crypto in this niche is much more convenient.
Conclusion
Betting in cryptocurrency can be done by anyone, it’s convenient, you don’t have to pay huge commissions and you remain anonymous. Bookmakers with cryptocurrency support open up new possibilities and increase the level of security for customers. In the near future we will be betting only through smart contracts, just as we are using them in many other areas.