Nowadays, the vast majority of online sportsbooks accept Bitcoin as a deposit and withdrawal method. Read our full guide to betting with bitcoin to learn about the advantages of using the cryptocurrency and get our updated list of trusted sites that offer bitcoin sports betting. Nowadays, almost all betting sites accept Bitcoin as a deposit option. Maximum Deposit: $10, Every time you deposit with Bitcoin a new Bitcoin address will be generated. If you use the same address for other deposits the transaction will be delayed and subject to a management fee. There is no daily or monthly limit on the amount of Bitcoin deposits . If you use an online sportsbook, chances are you have seen the option to deposit money via Bitcoin (BTC). Most don’t give bitcoin much thought and just use the same old forms of depositing that they are used to. I wanted to take some time to inform my readers about bitcoin.
Sportsbook bitcoin depositBitcoin Sports Betting Deposits | How To Use BTC At Legal Online Sportsbooks
No banks or governments have any authority over BTC, and it can be freely transferred between private parties legally and securely. Some critics say Bitcoin is gambling which makes it all the more attractive to sports bettors , and, frankly, it is. Bitcoin is legal to use for funding online sports gambling or any other lawful pursuit you enjoy.
The only prerequisite is that your vendor or service provider actually accepts the stuff. Since all the best international bookmakers accept Bitcoin and actually encourage their members to use it, you can rest easy that when you top off your account with BTC, you are breaking no laws whatsoever.
Best of all, Bitcoin sports betting deposits legally bypass federal UIGEA banking restrictions, because the blockchain platform cuts out all governmental and banking middlemen. When you fund your online betting account with Bitcoin, you will get access to bigger and better bonuses than you will for any other deposit method.
This alone is reason enough to make the switch to BTC for all your sports betting needs, because if you know how to gamble, Bitcoin lets you keep more of your bankroll and your promotional perks.
To show just how much more valuable BTC bonuses can be compared to standard promotions, take a look at Bovada Sportsbook. Literally all reputable, top-rated online sportsbooks operating outside of US jurisdiction offer similar Bitcoin sign-up bonus enhancements. At the best Bitcoin betting sites, you get more for less, and you get it a heck of a lot faster! This can be done in a number of ways, and most US and international bettors use Coinbase and similar buy-in exchanges. Additionally, you can finally buy Bitcoin with PayPal, simplifying the process considerably.
That said, this particular route cannot yet be used for trading, so we advise waiting for PayPal to allow outgoing BTC transfers before purchasing Bitcoin this way for use at online betting sites. While the Bitcoin value is locked in at its trading price the day you buy it, the fact that it takes so long to receive your BTC before you can bet with it at your online sportsbook is a huge problem. While casino gamblers might not have an issue with this, sports betting is extremely time sensitive.
Odds change by the hour, and having to wait often means missing out on the best lines. Worse, having to wait days on end means missing out on all the games and events you wanted to wager on in the first place.
This, more than anything else, is what keeps bettors from jumping on the Bitcoin bandwagon. Fortunately, if you want to know how to get Bitcoins faster — that is, in minutes instead of days — there is a simple solution: Zelle sports betting sites and LocalBitcoins. Update: Select sports betting sites are starting to accept QuickBit QB Direct transfers that allow non-crypto holders to effectively use their credit and debit cards to make direct deposits with cryptocurrency to fund their accounts.
With Zelle, you can initiate a lightning-fast transfer from your bank account — no questions asked — to a private Bitcoin seller on LocalBitcoins. After you receive your BTC in your LocalBitcoins web wallet, you can then transfer it directly to your favorite offshore sportsbook via their Bitcoin deposit form. Like Bitcoin, Stel l ar is a cryptocurrency platform that is accepted by some of the top online sportsbooks. If you wish to use Stellar to make direct gambling deposits , your options are currently limited to the above books.
But if you already own Stellar and want to use it to fund your online gaming at any site listed here, you can initiate a Stellar-Bitcoin transfer at any major exchange Coinbase, Kraken, Bittrex, Binance, etc.
Then, just deposit BTC into your betting site of choice. Depending on the current Stellar price, you might get even more bank for your buck going this route! As of October , PayPal finally allows its hundreds of millions of users to purchase Bitcoin right from personal PayPal accounts. Once this restriction is eliminated as the service rolls out, it will be safe and easy to use PayPal to buy BTC for use at legal online betting sites. Just log into your PayPal account or fire up your PayPal app, and head over to the cryptocurrency section.
There, select Bitcoin, enter the amount you wish to buy, and submit the ticket. Should such occur, simply buy Bitcoin with PayPal, and then move it to a Bitcoin wallet or another online exchange Coinbase, Kraken, Bittrex, etc. While you should probably buy your Bitcoin from LocalBitcoins. We already mentioned Coinbase as the most popular of these, but other widely used points of purchase include the following, to name just a few:.
Bitcoin has been one of the best investments in recent years, but it is prone to price fluctuations. A price crash could see you lose a portion of your profits. Of course, this can work the other way, where a rise in price would see your net worth grow. We have several recommendations when it comes to BTC gambling and the best Bitcoin gambling websites.
Our top five are listed below:. Bitcoin gambling is mainstream these days. Every major sportsbook accepts the crypto-currency, and some accept other coins, such as Litecoin or Ethereum.
The switch to BTC as the primary currency of offshore betting may have saved sports betting sites for Americans. Both betting sites and players have benefitted from the switchover from traditional processing methods. The same can be said for the sportsbooks themselves.
Bitcoin is the cheapest way to transfer funds around the world. The cost of processing this cryptocurrency is zero, which cuts down on withdrawal fees for both the sportsbook operators and bettors. This ends up being a massive positive for both bettors and sportsbook operators.
Some BTC sports betting sites hold balances in Bitcoin while others convert this cryptocurrency into traditional fiat currency when players make a deposit.
With Bitcoin, deposits are always completely free. Withdrawals usually are as well, but some operators may charge a conversion fee for withdrawals if they accept both BTC and traditional currency.
The sites taking BTC-only will usually have no fees of any kind. Bettors who bet with Bitcoin will still end up paying a few percent in fees, due to the exchange costs of buying BTC and then converting it back to fiat currency.
Most sportsbooks do offer players a free payout every 30 days or each month via check, but any other payout requests will come with fees. And, these can add up. Bank wires cost about the same, but extra banking fees charged to players make them a bit more expensive. Money transfers through services like Western Union and MoneyGram cost even more. Most bettors understand the importance of line shopping but ignore the somewhat hidden cost of receiving payouts from offshore sites.
Sportsbooks still accept fiat currencies, but they would much prefer that their players bet with Bitcoin. In addition to deposit bonuses, many BTC sports betting sites will offer bonuses exclusive to depositing with the cryptocurrency. Transferring Bitcoins is a much faster process than any other payout method.
Checks from offshore sportsbooks take at least a week to reach players, even from the most trusted and fasted paying sportsbooks. On the whole, the industry average is about two weeks. Bank wires are processed in about the same timeframe. Bitcoin payouts are processed quicker than any other method.
Some sites offer automatic withdrawals and players are paid in a matter of seconds. Almost all withdrawals with this cryptocurrency are processed in 24 hours or less. With any other payout method, they would have to wait a week or so for their funds and pay a fee. Bitcoin lets bettors get their funds a lot faster in some cases, a matter of minutes which allows them to move money around to find the best prices far more quickly than they would using fiat currency.
In most cases, these Bitcoin sportsbooks only require a login and password. The United States is still behind the times when it comes to sports betting. Nevada is the only state that has full-scale sports betting.