The Original Crypto Gambling Guide to Bitcoin Betting Sites

There are lots of things we look for in a Bitcoin bookmaker, such as the size of the welcome bonus, and the amount of money one can deposit and withdraw. As this topic is quite complicated on the surface, we recommend reading everything you need to know below to get a full idea of how it works.

This page is your ultimate Bitcoin sports betting guide. We will tell you how to deposit successfully, set up a wallet and display essential information, as well as explain exactly what cryptocurrencies are, their long and storied history, and the best bookmaker for all of your needs. Read on now to find out more.

How to Bet with Bitcoin: Depositing Successfully

The method to bet with Bitcoin bookmakers looks complicated at first glance, but in fact is actually rather simple. First of all log into the bookmaker of your choice, using your standard log in details. From there simply choose Bitcoin as your deposit method and type in the amount of money you want to bet.

The next bit really depends on the different type of bookmaker you will use. For the one we have prepared for you above, these Bitcoin payments are processed by a third party, which is usually Neteller. They will then convert the Bitcoin into a fiat (normal) currency, such as sterling, and the money will be deposited.

Can You Claim the Welcome Bonus with Bitcoin?

When it comes to welcome bonuses, it makes sense to use a payment method that can be used to claim that bonus easily. Sadly, due to Bitcoin still being an emerging payment method, and its reputation for money laundering, it is still not accepted in order to claim the welcome bonus. This is rather annoying right now as we think Bitcoin is great quite, but we are sure this is something they will innovate with more in the future.

Setting up a Bitcoin Wallet

Setting up a Bitcoin wallet doesn’t have to be hard. You should first be aware of the different types. There is the software wallet, which you install on your computer or mobile device, which is quite hard to set up. Conversely there’s the web wallet, where you use an intermediary such as an exchange to set up your wallet. We’ll be focusing on the latter for now!

Its easy. Simply access one of these sites, such as Coinbase or Blockchain.info and then register an account. Once you have securely verified your identity you should be able to buy bitcoins with your fiat currency. You will be given a special key which only you know and can be used to access your account.

What You Need to Know Before Betting with Bitcoin

As Bitcoin is such a complicated thing to understand, there are some key things that you should get to grips with before you set up an account and start betting with it. Too many people dive straight in without the slightest bit of knowledge and end up losing money and getting confused in the process. This is why it is something you should do In the sections below we will explain some key features of the Bitcoin service, including what a cryptocurrency is, how Bitcoin itself works and the best places online for you to buy it. Read on now!

What Is a Cryptocurrency?

Cryptocurrency might sound like a daunting sounding word, but in fact it is rather easy to understand. Basically speaking, a cryptocurrency is a type of digital currency that is encrypted in order to keep your details safe. Its worth understanding that it is decentralised, meaning that regulation comes from the encryption itself instead of from any central bank. This had led to many people saying that the transactions are completely anonymous, but seeming as the vast majority of cryptocurrency payments are filtered through an exchange this isn’t necessarily true as they do require you to provide your full identity when purchasing them. Bitcoin is the most famous cryptocurrency as it is the first, but there are some others you should be aware of such as Ethereum, Ripple, Dash and Bitcoin Cash. In the very near future one can expect to be able to pay at bookmakers with a whole host of different altcoins, with specific bookmakers made just for cryptocurrencies alone.

How Bitcoin Works

Bitcoins all take place on something called the Block Chain. It is a type of shared public ledger upon which the entire network takes place. This means that every transaction that takes place is put on the block chain. This is so the wallet can figure out how much balance can be spent. The legitimacy of all this is enforced via cryptography. These stores of value are written down as private keys, and are confirmed in the network by something called mining. Mining does not belong to any one purposes and is processed by what is known as a distributed consensus system. It is through this unique technology that Bitcoin has become so popular, eliminating the need for a middle man.

The Best Places to Buy Bitcoin

So now you know what Bitcoin is and how it works, perhaps you want to buy some for yourself. Well there are a few great places we recommend. For UK users, they can use Coinbase, which is the largest Bitcoin broker in the world. You can purchase bitcoins there via credit card, debit card, bank transfer and more. Another big name is Bitpanda, the Austrian based company with high payment limits and low fees which accepts payments via Skrill and Neteller too! If you are a high roller, we would recommend Coinfloor, which has a minimum deposit amount of £1000!

The Pros and Cons of Bitcoin Betting

Like many things in life, there are many pros and cons to Bitcoin betting sites. It is worth considering both the advantages and disadvantages if you are deciding to get involved with Bitcoin sports betting. Only after careful evaluation can you decide if it is right for you. To get an idea of what these could be, all you have to do is consult the pros and cons table that we have provided for you below.

• Advantages:
• Decentralised Currency
• Bitcoin Investing Profitability
• Potentially Anonymous
• Fun to Use
• Quick Set-up
• Ineligible for Welcome Bonus
• Disadvantages:
• Few Participating Bookmakers
• Fees Involved

As you can see above, the many advantages include the fact the currency is decentralised, meaning that it requires no bank to use, the fact that it is also a value asset, meaning that the price of Bitcoin itself can go up and the fact that you are given a certain level of anonymity to use it. When weighing this against the scarcity of bookies involved and the fees now appended to its usage, it seems to have a lot of more positives than cons. If you have already made your mind up, why don’t you start an account today?

Using Bitcoin on Your Mobile

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• Fast Withdrawals:Yes
• Quick Deposits:Yes
• In-Play Betting:Yes
• Live Streaming:Yes
• VISIT SITE!

While being able to make deposits and withdrawals on a desktop is something we expect the highest standard from via bookmakers, it is with mobile betting that the future of betting will play out. Already used for a whole bunch of transactions, we expect mobile to be at the forefront of most transactions. That is why we are happy to say that you will have no problem using Bitcoin on your mobile. Firstly, many exchanges will allow you to take a look at your bitcoins and see their value go up and down in real time. Secondly, all the best bookmakers have mobile apps that allow you to make deposits straight from your device. This also includes being able to deposit via bitcoin too. This can be achieved in just a few clicks on your phone, making it perfect for people who are on the go and aren’t able to access their desktops.

Rules for Deposits and Withdrawals

When you are betting online, there are a bunch of rules you need to know about deposits and withdrawals. There are four key factors you need to know about. There is the minimum deposit amount, something you want to find as low as possible. Then the idea is to find extremely large maximum deposit and withdrawal amounts to allow you to have flexibility with your money. Additionally, always look for bookmakers that don’t charge fees when you withdraw. In addition, always look for a payment method that can deposit pretty much instantly, and can withdraw within 24 hours or less – any longer than that becomes problematic. For the bookmaker we think is the best for bitcoin deposits and withdrawals we have written a really handy table which you can observe below.

As you can see from this bookmaker, there are some amazing limits for you to take advantage of. As per the industry standard, the minimum deposit is just £10. In addition, there are no fees and the deposit time is instant. Do note that you may be subject to fees if you use certain Bitcoin exchanges, however!

Safety and Security

Nothing is more important in your betting journey then staying completely safe. That’s why you can be happy to know that Bitcoin bookmakers ensure your safety at all times. Despite the fact that it may be decentralised, meaning that it isn’t backed up by a bank, this doesn’t mean that your money isn’t safe. While some exchanges have been subject to hacks, they have cleaned up their act in recent years, meaning that this is much less likely to happen. What it gives you, when you are making your first deposits, is a certain level of anonymity which means that the initial fiat currency you are using to make your initial Bitcoin purchase remains unknown. If you like staying anonymous in this sense, then Bitcoin is perfect for you. If you want to learn more about Bitcoin and safety please observe the image that we have created just for you below.

The History of Bitcoin

The domain name of bitcoin.org was registered in 2008. It was started by a man of mystery known as Satoshi Nakamoto, who is said to own one million himself, making him one of the richest men in the world. Along with the release of the cryptocurrency, he wrote a highly influential paper entitled: “Bitcoin: A Peer-To-Peer Electronic Cash System” which really changed the way everyone thought about online payments in general. From 2009 the bitcoin was fully operational. Since then it has gone from only costing a few cents to thousands of dollars. Its current astronomical rise has led many people speculating that it is a bubble. Time will only tell what will happen to Bitcoin next; some say it will transform the entire financial world, others say that it will be caught up in the same hype as the dot com bubble. One thing’s for sure – its great for betting deposits.

Alternative Payment Methods

If Bitcoin isn’t for you, then there is no need to fret; there’s plenty of other payment methods that you can start using for betting right away. Naturally, the biggest con with using Bitcoin is the fact that it isn’t available with that many bookmakers. Additionally, you might just say that it is simply too complicated to bother opening an account with and would rather something simpler. If you want a payment method that is consistently accepted almost everywhere, why don’t you check out our exclusive review of PayPal now? Additionally, there are other e-wallets you can use such as Neteller and Skrill which we would highly recommend if you want to deposit and withdraw with relative speed. Additionally, if you receive your money in cash we would recommend you buy a paysafecard, which can be bought from a wide variety of off-licenses. We have in-depth reviews of all these payment methods and others for your perusal.

The Best of the Bitcoin Bookies

Now we have come to the end of our Bitcoin bookies review, it is time for us to say which bookmaker we believe is our favourite. With this cryptocurrency it isn’t all that hard to pick our favourite, as there is only one bookmaker from our site that offers Bitcoin betting at the moment. It is also worth saying that this bookmaker doesn’t take bitcoins directly, but has them processed by Neteller. We are confident however, as Bitcoin becomes more popular, that this payment method will be adopted by more and more bookies. We love this bookie not just because they accept the payment method, but due to the generosity of the welcome bonus to begin with, how long it takes to claim the bonus, and the fact they offer eSports betting. If this is the bookmaker for you, why don’t you start betting with them right away by following the link at the top of this page!