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Bitcoin sports betting refers to betting on sports with crypto as compared to the regular FIAT currencies. In this type 🏧 of betting, you deposit money directly from your bitcoin wallet and withdraw your earning in bitcoin. Many sportsbooks allow bitcoin 🏧 as a form of payment and you can convert your deposit to FIAT.
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What Is Bitcoin Sports 🏧 Betting?
Before you start using bitcoin for betting, it is crucial to understand the benefits of using bitcoin for betting on 🏧 sports. Many users love this method because it is anonymous when depositing money to your preferred sportsbook.
They don’t get your 🏧 personal details and this is great for those people who would love to stay anonymous when gambling online. Other benefits 🏧 of using bitcoin for sports betting include:
Crypto Gambling
One of the major advantages of using bitcoin for betting on sports is 🏧 the fast turnaround time. It takes just a few seconds to withdraw or deposit money on bitcoin. Therefore, you don’t 🏧 have to wait for the money to reflect in your account to start betting.
How to use cryptocurrency at sportsbooks
Bitcoin Betting 🏧 Websites
Dealing with credit cards can be unreliable because at times they can be denied. Using bitcoin is a reliable method 🏧 because you don’t need an intermediary. Additionally, no verification is needed. This makes it a reliable currency to use.
Bitcoin Support
Using 🏧 bitcoin for sports betting is great because the limits are higher compared to the alternative methods. They have deposit and 🏧 withdrawal restrictions and this might not meet your requirements especially if you want to bet using a huge sum of 🏧 money.
Safety
Like other cryptocurrencies, bitcoin prices fluctuate throughout the day. However, many bitcoin betting sites eliminate this stress or by converting 🏧 bitcoins to UDS after you deposit. When placing your bets, you don’t have to worry about the conversion or the 🏧 worth of the bitcoin.
Fast withdrawals
Some bookmakers can provide specific bonuses for bettors who are using bitcoin. Bettors enjoy rewards and 🏧 bonuses when using bitcoin betting. They are given welcome bonuses on fir time deposits and other promotions that don’t come 🏧 with other payment methods. It is essential to check the terms and conditions associated with such bonuses if they exist.
License
Security 🏧 in sports betting should be your priority irrespective of the payment method. Bitcoin provides higher levels of security because it 🏧 is hard to crack or hack, unlike other payment methods.
Game selection
Bitcoin sports betting provides bettors with many markets. You can 🏧 access all international markets, which you can do when betting on regular sportsbooks.
Odds
Sports betting is a lucrative online activity that 🏧 is fun and can lead to big winnings. Many online sportsbooks accept bitcoin deposits and withdrawals. Using bitcoin for sports 🏧 betting is similar to using the standard methods but it has other extra benefits.
While you have plenty of sports markets 🏧 to choose from, the odds are also great. Bitcoin sports betting provides different odds compared to moneyline odds, fractional odds, 🏧 decimal odds, and American odds.
Many sportsbooks also provide incentives and bonuses for bettors using bitcoin for deposits or withdrawals. They 🏧 provide generous welcome bonuses and other bonuses on deposits to reward loyal and current bettors.
Support
There are many claims that bitcoin 🏧 payments are anonymous. However, they are not 100% anonymous because only your identity remains anonymous. Every transaction you do is 🏧 kept on a network, so people can view it publicly.
When it comes to taxes and regulation, bitcoin is mainly unregulated. 🏧 For instance, in the UK, the government treats it as a foreign currency. Therefore, if you exchange bitcoin for pounds, 🏧 no VAT is required. However, the profits and losses you make are subjected to capital gains tax.
Mobile compatibility
Many bitcoin betting 🏧 sites provide mobile bitcoin gambling to create a memorable betting experience for bettors. The best bitcoin sportsbook apps are responsive, 🏧 provide fast loading and they offer the same functionalities provided by the desktop version.
In addition, the mobile apps are sleek, 🏧 and they make it simple to deposit or withdraw money using bitcoin. One of the best sportsbooks that provides a 🏧 functional mobile app is Sportsbet.io.
Why Use Bitcoin For Betting On Sports?
Bitcoin betting has many advantages compared to other deposit methods. 🏧 Customers enjoy fast deposits and withdrawals, generous bonuses, and promotions. In addition, the odds are competitive and you have a 🏧 variety of betting markets to choose from.
Making bitcoin deposits is easy. First, you need to have a bitcoin wallet and 🏧 then purchase bitcoins to fund your account. You can also process your bitcoin withdrawals first. Before you head over to 🏧 the withdrawal page, you should get a bitcoin address.
The withdrawals vary in processing time and based on the sportsbook. Funds 🏧 reflect in your bitcoin wallet immediately after processing. You can choose to transfer the money to your bank account or 🏧 spend it online. PayPal and Neteller are the only services that are close to Bitcoin. This is because they provide 🏧 instantaneous deposits and their withdrawals are also almost the same.
If you want other alternative payment methods to bitcoin, there are 🏧 different options that you can find. The following are the most common modes of payment options, especially for UK betting 🏧 sites.
Bitcoin Sports Betting Guide
Fast Deposits and Withdrawal Times
One of the major advantages of using bitcoin for betting on sports is 🏧 the fast turnaround time. It takes just a few seconds to withdraw or deposit money on bitcoin. Therefore, you don’t 🏧 have to wait for the money to reflect in your account to start betting.
A Reliable Currency
If you are looking forward 🏧 to getting started on bitcoin betting site, you need to set up your account and load it with bitcoin. Here 🏧 are some steps to help you get started.
Sky-High Limits
The first thing you need to have is a bitcoin wallet. You 🏧 can get either a software wallet or a hardware wallet. The most popular digital wallets you can choose include:
Protection from 🏧 Price Volatility
After creating the account, you get a unique wallet code. You can also choose to start with eToro, which 🏧 is an exchange that offers fewer fees for selling and buying bitcoin.
Crypto-Specific Rewards and Bitcoin Bonuses
After creating your bitcoin wallet, 🏧 convert your money into bitcoin. You can do this by using Luno, Coinbase, Gemini, and Kraken among other cryptocurrency exchanges. 🏧 Put your banking details and the ideal currency you want to convert (Bitcoin) and then click convert. Fill in your 🏧 bitcoin wallet key and the funds go straight to your crypto wallet.
Higher Security
Choose your ideal bitcoin betting site and create 🏧 an account. You will find a short registration form where you need to fill in your details like your name, 🏧 date of birth, email, and create a password.
Many Markets
After creating an account, the betting site sends a confirmation message to 🏧 your email. Depending on the betting site you selected, you can be asked to provide additional information like your bank 🏧 statement copy and your social security number.
Other benefits
It is dependable;
Provides higher limits;
Making deposits is simple;
How Does Betting With Bitcoin Work
Many 🏧 sportsbooks that allow crypto gambling provide different sports that you can bet on with bitcoin. Some of these sports include:
Identity 🏧 Protection and Taxes with Bitcoin Gambling
Additionally, you can also place different types of bets like teasers, moneylines, totals, props, parlays, 🏧 futures, and point spreads.
Mobile Bitcoin Gambling
Like other types of betting, bitcoin also provides a live betting experience. Many bitcoin sportsbooks 🏧 provide in-play betting markets to provide convenient betting. You can place your bet when the game is live as compared 🏧 to placing your before the game begins. Alternatively, you can choose to bet on both. This gives you a fun 🏧 way to place your bets. You can select any of the bookmakers we have covered above and enjoy bitcoin live 🏧 betting.
How Do Other Betting Site Deposit Methods Compare To Bitcoin
Bitcoin is one of the most commonly used cryptocurrencies. Many bookies 🏧 have introduced this method of payment in sports gambling. There are many benefits that bettors enjoy when using bitcoin for 🏧 sports betting. Making deposits and withdrawing your winnings is easy, and that is why many punters prefer using cryptocurrency. I 🏧 hope the information provided in this guide will help you select the most recommended bitcoin betting sites.
Payment Method Fees Min 🏧 Deposit Min Withdrawal Debit Card 0% £5 £5 Paypal 0% £10 £10 Neteller 1.9-4.95% £5 £5 Skrill £4.75 withdrawal fee 🏧 £10 £5 Apple Pay 0% £5 £5 Bank Transfer 0% £10 £10
How to Sign Up At A BTC Sportsbook
If you 🏧 are looking forward to getting started on bitcoin betting site, you need to set up your account and load it 🏧 with bitcoin. Here are some steps to help you get started.
Step 1: Have a Bitcoin Wallet
The first thing you need 🏧 to have is a bitcoin wallet. You can get either a software wallet or a hardware wallet. The most popular 🏧 digital wallets you can choose include:
Coinbase;
Exodus;
Atomic Wallet;
For hardware wallets, you can choose the following;
KeepKey;
Ledger Nano X;
Trezor One;
Trezor Model T;
After creating 🏧 the account, you get a unique wallet code. You can also choose to start with eToro, which is an exchange 🏧 that offers fewer fees for selling and buying bitcoin.
Step 2: Currency Conversion
After creating your bitcoin wallet, convert your money into 🏧 bitcoin. You can do this by using Luno, Coinbase, Gemini, and Kraken among other cryptocurrency exchanges. Put your banking details 🏧 and the ideal currency you want to convert (Bitcoin) and then click convert. Fill in your bitcoin wallet key and 🏧 the funds go straight to your crypto wallet.
Step 3: Register your Account
Choose your ideal bitcoin betting site and create an 🏧 account. You will find a short registration form where you need to fill in your details like your name, date 🏧 of birth, email, and create a password.
Step 4: Account Verification
After creating an account, the betting site sends a confirmation message 🏧 to your email. Depending on the betting site you selected, you can be asked to provide additional information like your 🏧 bank statement copy and your social security number.
What Sports Can I Bet On With Bitcoin
Many sportsbooks that allow crypto gambling 🏧 provide different sports that you can bet on with bitcoin. Some of these sports include:
Football;
Hockey;
Snooker;
Golf;
Darts;
Cricket;
Tennis;
Baseball;
Motorsports;
Fighting sports;
US sports.
Additionally, you can also 🏧 place different types of bets like teasers, moneylines, totals, props, parlays, futures, and point spreads.
Bitcoin Live Betting Experience
Like other types 🏧 of betting, bitcoin also provides a live betting experience. Many bitcoin sportsbooks provide in-play betting markets to provide convenient betting. 🏧 You can place your bet when the game is live as compared to placing your before the game begins. Alternatively, 🏧 you can choose to bet on both. This gives you a fun way to place your bets. You can select 🏧 any of the bookmakers we have covered above and enjoy bitcoin live betting.
Conclusion
Bitcoin is one of the most commonly used 🏧 cryptocurrencies. Many bookies have introduced this method of payment in sports gambling. There are many benefits that bettors enjoy when 🏧 using bitcoin for sports betting. Making deposits and withdrawing your winnings is easy, and that is why many punters prefer 🏧 using cryptocurrency. I hope the information provided in this guide will help you select the most recommended bitcoin betting sites.
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