Bitcoin Sports Betting – Listing Reputable Online Sportsbooks That Accept Bitcoin
When bitcoin first started getting popular, people thought that it might make an excellent option for deposits and withdrawals for betting on sports online. They were completely right about this, and now bitcoin is one of the fastest-growing banking options for online sports wagers. The advantages of this banking method really match up with the wants and needs of the Internet sports betting crowd, and we want to break down everything you might want to know about using this payment method to bet on your favorite teams and events.
How Do Bitcoin Deposits for Online Sports Betting Work?
As is the case with any banking method used for any type of online gambling, there is a small learning curve involved with bitcoin deposits for sports betting. With that having been said, the basic process is as follows. First, you’ll use a bitcoin wallet program, online or desktop-based, to create a wallet. Next, you’ll purchase bitcoin at an online exchange, and that bitcoin is added to your wallet. Finally, you make a deposit using those bitcoin to your online sportsbook of choice using the instructions that they provide on their website or in the cashier section of their software. It’s no more complicated than using an electronic wallet and only slightly more complicated than using a credit card.
Top Rated Bitcoin Sports Betting Sites – All USA Friendly
|Bitcoin Site||Bonus Offer||USA Accepted||Visit Site||Review|
|1||50% up to $1,000||Visit Site||Read Review|
|2||50% up to $500||Visit Site||Read Review|
|3||50% up to $1,000||Visit Site||Read Review|
Recommending Only The Biggest And Most Trusted Sportsbooks To Players
There are several other sportsbooks in the industry that take bitcoin. Some of them are actually pretty good. However the sites we recommend are the biggest and most trusted sites by a mile. These sports betting sites only recently started accepting bitcoin in 2016 which ended up being a god send to smart players who understand the value in playing with the big boys.
With that being said, we are currently in a holding pattern with listing the other bitcoin friendly sportsbooks on the market. We don’t list any site unless they’ve been in business for at least 3 years and have all the kinks ironed out. So we will likely be reviewing additional sites in the near future. Frankly we just wanted to start at the top with the most trusted sites and work our way down. We hope you appreciate our efforts in that regard.
What Sports Can I Bet On With Bitcoin?
The great thing about gambling with bitcoins is that, after you’ve made your deposit, it functions exactly like any other currency that you’re used to betting with. When you go to place a bet, you’ll go through the same set of steps that you always would. First you’ll choose the sport, league and game or match that you want to focus on. Then you’ll pick the size of bet you want, and once you place the bet, that’s all there is to it. Because of this, you can bet on all of the sports, contests, political elections, entertainment wagers and anything else that would normally be open in terms of available markets.
The important thing to understand here is that bitcoin is just a different type of currency, and it doesn’t change the actual betting process or which sports you can bet on. All of that is the same. The only difference is that you get a ton of benefits that are inherent in how bitcoin works overall.
Available Sports And Betting Lines Available
Sports Covered: MLB Baseball, NBA and NCAAB basketball, NFL and NCAAF football, NHL hockey, boxing, UFC, tennis, golf and a lot more.
Betting Options: The sportsbooks we recommend offer all your standard wagering options including straight bets, parlays, teasers, pleasers and more. They also offer betting lines on quarters, half times and prop bets.
Why is Bitcoin Sports Betting So Popular in the United States?
The United States is known for its murky legal situation involving online gambling as a result of overlapping federal and state laws. The Unlawful Internet Gambling Enforcement Act of 2006 is a good example of a piece of legislation that many people mistakenly believe made online gambling illegal, but that is not the case. In fact, the act itself says that it does not make online gambling illegal in plain English to make that as clear as possible, but the myth that the UIGEA was an online gambling ban persists.
What the UIGEA did do, however, was create a confusing environment for banks who had to decide if individual instances of online gambling were legal according to a variety of unclear regulations. If they judged a deposit incorrectly, they could be fined for it. To simplify things and take the burden off of their own shoulders, many banks simply decided to stop accepting any online gambling transactions at all, including those for sports betting.
This is the core of why bitcoin is so popular for US online sports betting. The UIGEA fostered a hostile banking environment, not a legal ban against online gambling as many believe. Because bitcoin operates outside of the usual banking system, it isn’t hindered by the issued that were raised from the UIGEA’s banking regulations, and that makes it a much smoother payment option for many players in many cases. The bottom line is that bitcoin is easier to use for US players who want to bet on sports than most credit cards or electronic wallets most of the time, and that’s the source of its increasing level of popularity among Americans.
Are Online Bitcoin Sportsbooks Safe and Secure?
Other than the convenience of banking for American players and those in certain other parts of the world, the main advantages of using bitcoin are the built-in features for staying safe, secure and anonymous. Because there is no direct connection to your identity or your bank account, you don’t risk an online sportsbook or hacker gaining access to your bank account, credit cards or electronic wallet account and charging you erroneously. This also helps to prevent situations of identity theft and other similar issues because there is a virtual firewall between the rest of the world and the information that they would use to commit these types of crimes against you.
With that having been said, the main concerns in terms of fairness and safety for players who use bitcoin to bet on sports online have to do with the integrity of the sportsbook itself. This includes whether or not they pay out when they are supposed to, whether they have competitive odds, whether their other games are fair, etc. Our bitcoin gambling reviews are well researched and are comprised of sportsbooks that have proven themselves to be trustworthy.
There are a few criteria we use to make this assessment. First, we look at how long the site has been around and what their general reputation is like. From there, we look at where they are licensed and what the standing of their license has been for the time that they have had it. Finally, we look at the company that operates the sportsbook and what the reputation of that company has been like along similar lines. All of this helps to paint a strong picture of how trustworthy a site is overall and whether we feel comfortable recommending it to our readers.