Best Bitcoin Betting Sites – Safe and Convenient, Is There Anything Else to Ask For?
In all honesty, bitcoin stirred the pot in the field of online payments like no other technology. It keeps bending and reshaping the concept of e-money and many punters are asking the question could it turn out to be a spurious blessing after all the years of experimentation and adjustments? Whether we like it or not, the plan to redefine the way we deal with money is afoot.
Making the change work to our advantage in a high-paced environment such as the cryptocurrency domain is no easy task. Everyone involved is taking a gamble one way or another, and that makes bitcoin sports betting a much sought-after undertaking. Many sportsbooks show commendable enterprise in adopting this new idea while other run their business entirely on the new and exciting cryptocurrency.
We’ll help you find a middle ground between the new and the old, real money betting and bitcoin betting. Of course, we’ll do this the only way we can – keeping our review above board and imbued with helpful tips.
Why Bitcoin Betting – What’s the Secret Sauce?
We know how hard it is to pull together a reasonable bet, let alone backing it with an asset that raises so many questions all by itself. Bitcoin is a payment service that necessitates a thorough explanation before throwing yourself into it. We’ve broken it down for you, and here are the top reasons to get started with one of the best bitcoin betting sites out there.
- Bitcoin is the perfect storm for all major banks because it sails against everything that holds those financial establishments together. It says “no” to centralization and the big transaction fees. You don’t need the help of a bank agent to set up an account (in this case it’s a wallet) nor to manage it. A no-brainer if you have a particular dislike for bureaucracy and want to take control over your money.
- Some big financial institutions are likely to refuse to process your online gambling transactions. Dealing with this kind of issues is all in a day’s work for American bettors. In contrast with this inflexible approach, bitcoin’s decentralized framework enables all sorts of transactions without being asked questions or waiting for approval.
- There are no territorial restrictions for US bettors, and this is not going to change any time soon. Even though the US has a notorious reputation for clamping down on online gambling, it has never shown an affinity towards chasing after the average bettor. It’s then highly unlikely we’ll see the government infringing on the right of bitcoin users to gamble with their coins.
Best Bitcoin Betting Sites – What We Are Looking for in a Promising Sportsbook?
If you’ve already decided to turn your hand to bitcoin betting, it will be quite beneficial to learn how we assess the sportsbooks. The fact that they process cryptocurrency deposits and withdrawals doesn’t mean that we’re going to be any less strict. Here we’ll go through the process of evaluation we typically utilize to grade an operator appropriately.
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- First, we expect an unequivocal registration that can be completed in a regular coffee break. A process that drags out for more than 5-10 minutes simply bores us to death and makes us lose interest. We think we all can relate.
- We then make sure that bitcoin deposits can, in fact, go through without any complications or delay. They don’t require any go-betweens, so It’s only fair if the time taken is somewhere around the “instant” mark.
- We’re looking for eye-catching odds, colourful spectrum of bet types, and an abundance of sports markets to choose from. We usually don’t give praise to betting providers that serve a very narrow scope of tastes.
- Armed with our own impressions of the bookie we review, we’ll do the utmost to dig any skeletons out of its closet. The internet is not a vacuum, we know how to put the reputation of a sportsbook to the test and make sure it hasn’t committed any misdeeds in the past.
Are There Bonuses for Bitcoin Gambling Deposits?
Yes, typically the bitcoin-dedicated betting sites are very generous when welcoming new clients. Whether it be a wager refund or a percentage boost to your deposit, you can find it all when you search as hard as we do. Free bets too are not uncommon, however, they usually get credited to your bankroll after making a qualifying wager.
When you settle on a bonus that’s your preferred type, remember to look twice for the unit of currency Don’t be fooled by the big numbers, since it has become a common practice to feature the welcome bonus size in lengthy numbers preceded by the micro bitcoin (µɃ) mark, which actually equals one millionth of a bitcoin.
Is Bitcoin Betting Well-Regulated?
Not all sportsbooks that accept bitcoin have gone through the regulatory checks we usually associate with the top online gambling sites. Partially this is due to the fact that those betting sites revolve around a self-governed payment system that is not susceptible to manipulation. Even so, the licensing institutions are currently working on a flexible way of defining the terms and rules of online gambling with bitcoin. Once the necessary laws are passed we’ll have on our hands a double-folded security outlet for our sports punts. But even now, we dare to say that players who know a little bit about bitcoin should understand that their money is safe anywhere in the blockchain, be it betting or e-commerce sites.
Sportsbooks Partnering with Cryptocurrency Exchanges
Not all operators claiming to accept bitcoin deposits actually do as advertised. Most of them are not that interested in blockchain technology as to process direct bitcoin deposits. Instead, they feel more comfortable cooperating with an exchange, like bittrex that converts coins to dollars. So, after all, is said and done, you’re left with a bankroll funded with USD. Now, there are some obvious setbacks deriving from this course of action.
- At some point you’ll have to register an account in the exchange partnering with the bookie, which is not as easy as it looks because they all have tightened up their security and perform very time-demanding verification checks. Hence, if you’re looking to wrap it up in one day you might be in for an unpleasant surprise.
- Secondly, last time we checked, not all punters feel content to sell their bitcoins. The majority of them invest time in gambling with a view to multiplying their cryptocurrency rather than simply selling it. For all the hodlers out there (investors who prefer to hold their coins) read carefully before committing, don’t say you were had.
- You might sell at a disadvantageous price and not be aware of that if you just reel through the steps. Moreover, bitcoin’s price changes daily and it’s not a good idea at all to sell without doing a research first. Making a good move on the crypto-markets is a time-involving process, you can figure out whether to buy or sell on the spot.
Bookmakers that Actually Accept Bitcoin Bets
The typical registration for this type of bitcoin sportsbooks is just a formality, so nothing complicated there. Sites of this variety were created precisely with user convenience in mind. Most of them started as online casinos and branched out into sports betting later. Gambling with such operators is generally trouble-free and quite enjoyable as far as funding a bankroll is concerned. Punters, who are used to dealing exclusively with bitcoin, should have everything going their way. The neat thing is that those sites work directly with bitcoin deposits and withdrawals without 3rd party mediators. All this essentially means that your coins are not sold, and you don’t have to reinvest again afterward. This is great for players who have a clue about how bitcoin’s price varies.
Sports Betting Sites That Accept Bitcoin Are Recognized for Their Security
User safety lies within the very core of the Bitcoin architecture. A technology resting on the so-called blockchain technology that employs strong encryption and processes transactions in a transparent way. In short, it’s so secure and confidentiality-oriented, that it could be exploited with malicious intent and there would be no way of tracking down. While the possibility of abuse always looms large with any revolutionary product, the regular customers can finally enjoy their privacy and arrange payments as they want. All you’ll ever have to give away is your public address, which serves only for receiving payments.
Not only do bitcoin sports betting taps into the fortified security features of the cryptocurrency, but it also makes use of its utility in terms of storage options. You can create a separate wallet, designated only for betting in minutes. The choice ranges between hardware, online, mobile, software, electronic, cloud and even paper wallets. No matter what storage medium you choose for your coins, in order to maintain control over your wallet, you need to keep a close eye on your private key and make sure it’s somewhere safe. Generally speaking, all bitcoin wallets present a good opportunity for sports betting, but their creation and maintenance involve different lineaments that you should get familiar with first.
Are There Alternatives to Bitcoin in Terms of Cryptocurrency?
Yes, there are a few honorable mentions that usually stay in the shadow of their notable precursor, the most prominent of which is Ethereum. It’s true that BTC gambling sites are famed for their bitcoin adoption, however, they also deal with cryptos like Ethereum and Bitcoin Cash. The former gained lots of traction in the past two years and despite not surpassing bitcoin, the customer reviews speak convincingly about flawless implementation on a global scale and ease of use.
With the mass adoption of decentralized money transfer systems, we are sacrificing for good the existence of authoritarian units that can override and correct mistakes or offer us help. Unlike e-money, you can’t revert certain operations because once formed, the information-containing blocks cannot be altered. In other words, when a payment gets enough confirmations, it’s through.
We deem this slight digression necessary because oftentimes punters accidentally send ethereums to a bitcoin address and vice versa. Our knowledge in the field is not excellent but for what we know, in these cases, the money will most likely be lost.
BTC Sportsbooks – the Best Way to Get the Upper Hand in Sports Betting
An unforeseen application at first, using bitcoin for betting holds many virtues empowering punters that are wise to this innovative means of gambling. It’s our preferred way of placing wagers, taking into account the peer-to-peer transfers and facile registration. In regard to reliability and anonymity, resorting to cryptocurrency betting is also a great choice. Off the top of our head, we can’t pinpoint a better way of protecting your money and sensitive information.
Bitcoin sports betting has yet to grow, but with so many militant supporters, before long, it will be a widespread phenomenon. We expect to see more even more from the cryptocurrency-betting sites in the future. We also think bitcoin gambling will go far and the sooner you come to grips with it, the better.