How Should You Choose A Crypto Betting Site?
The world of sports betting is seeing a boom in crypto betting sites, which offer a new way to wager on your favorite games.
Choosing the best one for you can be challenging, however.
A high rating and good reviews of a particular site do not guarantee that it will be the best choice for you. If you are looking for a convenient and secure crypto betting platform, there are several factors to consider.
The following are some straightforward things to keep in mind:
The most important factor when looking for a cryptocurrency bookmaker
is whether you can place bets from your country of residence.
For example, if you live in the USA, then the BetOnline website
is best for you, since it is one of the few resources that accept bets from citizens of this state.
However, other sites may be more convenient for UK and EU residents.
Once you have found a site that operates in your region, you should research the site's reputation and license. For example, Cloudbet
operate under a license from Curacao, a jurisdiction known for its friendly attitude towards gambling.
When studying the bookmaker's reputation, pay attention to how it resolves disputes with the player, and also study reviews about the site on various thematic forums.
In addition, it is worth paying attention to how long the resource you have chosen has been operating.
Of course, we've already checked the reputation of all the sites above, so you don't have to do it yourself.
Selecting lines and events for betting
While most cryptocurrency bookmakers
don't differ much in terms of available betting lines and events, some of them offer betting on exclusive sports that competitors don't offer. In this regard, sites such as Stake
clearly stand out, which offer a huge number of markets for almost any event.
The income of any bookmaker is generated from the margin - a fixed percentage charged by the site from user bets. Based on this indicator, companies are divided into three groups:
- Fundamental. The commission amount is more than 5%.
- Average margin. Charged from 3% to 5%.
- Low margin. The commission is less than 3%.
Both for bettors who play in dollars or euros, and for fans of cryptocurrency, low margins and, accordingly, good odds are important. The lower the percentage, the more profitable the odds for users. Information about margin can be found in the reviews and rules of bookmakers with cryptocurrency.
The majority of crypto bookmakers accept a variety of payment methods.
As a result, you can choose whether to use digital assets or fiat currencies.
Most top-rated Bitcoin bookmakers accept BTC, Ethereum (ETH), and Litecoin (LTC).
A few others allow you to play with Dogecoin (DOGE), Dash, Bitcoin Cash (BCH), and Monero (XMR).
Certain gambling sites may accept fiat as a payment method for some reason.
In addition to using a debit/credit card or a bank transfer, you might be able to use an electronic wallet (eWallet) such as PayPal, Neteller, or Skrill.
There are a few crypto bookmakers that accept prepaid cards, such as Paysafecard.
These cards allow you to gamble online without a bank account or credit card.
This is, however, a highly inconvenient method of funding your Bitcoin bookmaker account.
Bonuses & Promotions
In order to attract and keep customers, many Bitcoin bookies offer bonuses and promotions.
There are a variety of bonuses to choose from:
- Welcome bonuses:
When new users make their first payment, cryptocurrency bookmakers often offer a welcome bonus.
A free bet, free spins on gambling games, or a matched deposit could be offered.
- Reload bonuses:
Several crypto bookmakers reward regular customers with reload bonuses when they deposit.
There are usually wagering requirements attached to them, just like welcome bonuses.
- Special event promotions:
During major sporting events such as the World Cup or the Grand Slam tournaments, some crypto bookmakers offer special deals.
There may be enhanced odds on specific markets or novelty wagers available.
One of the main advantages of using cryptocurrency for sports betting
is the ability to hide your personal data and financial information.
Thanks to the payment methods and personal data requested during registration, anonymous betting websites allow you to bet privately.
When registering on these sites, you don't have to provide many, if any, personal information.
If this factor is crucial for you, it is worth taking a closer look at platforms such as Stake,1xBit
Cryptocurrencies & bookmakers, two types of companies
There has been a massive growth in the use of bitcoins as an electronic currency.
They offer anonymity, low commissions, and secure transactions to their users.
Clients of cryptocurrency-supporting bookmakers enjoy the same benefits.
They are divided into two types, and this is very important:
- Bookmakers with deposits and withdrawals in cryptocurrency are not much different from regular bookmakers.
Their developers periodically add new methods for depositing and withdrawing funds.
At the same time, the service remains centralized and all the problems of platforms similar to it remain.
- Bookmakers on the blockchain - the project is created on the blockchain or through a popular platform, which guarantees the integrity of transactions.
A decentralized system increases security. No one manages the clients’ funds, and they receive winnings through smart contracts that guarantee their receipt.
The second option is preferable. Blockchain technology helps you avoid false accusations from the administration and long demands for winnings on your balance sheet.
Where to buy cryptocurrency for betting?
There are several ways to buy cryptocurrency:
- Crypto exchanges. Exchanges are the most reliable and secure platforms. However, they come with high fees and almost always require account verification to use. You can choose a suitable crypto exchange on the Coinmarketcap website.
- Exchangers. These resources have an optimal combination of transaction speed and anonymity - many of them do not require verification. However, almost all exchangers include the cost of their services in the exchange rate, so it may be higher than on the exchange.
- Private traders. The main advantage of buying through private sellers is the ability to make transactions for small amounts. In addition, in some cases, these sellers may offer better rates than exchanges and exchangers.
You should not store purchased coins in the accounts of exchanges and exchangers - it is better to withdraw them to your wallet immediately after purchase. For popular cryptocurrencies such as Bitcoin, there are a huge number of different wallets, including dedicated hardware devices.
How to top up your bookmaker account using crypto
The algorithm is not much different from standard types of replenishment. The following steps must be taken:
- Register (and, if necessary, identify) in the desired bookmaker.
- Log into your personal account on the website or through the application.
- Find an item in the menu with a replenishment (deposit). From the available options, find the crypto you need and select it.
- Next, indicate the amount, look for a button like “generate a Bitcoin address.” In fact, this is a bill that needs to be paid.
In your own wallet, you need to send the crypto to the specified account.
How to withdraw cryptocurrency from your account
Withdrawing funds from a bookmaker is even simpler than making a deposit, and looks something like this:
- Go to your personal account and find the section with withdrawal of funds.
- In the list we find the section with crypto and select the “coins” we need. Next, indicate the desired amount.
- Add the crypto recipient's address to the field and confirm the operation.
Why is crypto betting so popular?
- Fast deposits and withdrawals
Cryptocurrencies are decentralized digital money. This means that the player and the bookmaker carry out financial transactions without intermediaries. This way, you can make deposits and withdrawals instantly - some sites even have automatic payouts directly to the client's wallet.
- Low commissions
The absence of intermediaries not only speeds up transactions, but also reduces their costs.
Sports betting and gambling is one of the most regulated industries. Players often encounter legislative “tightening of the screws”, which reduces the accessibility of gambling sites. Cryptocurrencies allow you to bypass blocks and play from anywhere in the world.
The future of crypto bookmakers
Bookmakers that accept cryptocurrency for bets have serious potential thanks to the popularization of blockchain technologies.
What experts predict:
- Expanding the number of accepted digital coins.
- Increasing the security of bookmakers through more active integration of blockchain and smart contracts.
- Standardization of services due to control by regulatory authorities.
- Improved customer experience due to increasing competition in the industry.
The emergence of operating standards should lead to the weeding out of unreliable sites and the creation of competitive offers in a rapidly growing industry.
Betting on sports can generate a large amount of income in a short amount of time and is one way to earn cryptocurrency.
Statistics, trends, and expert opinions should be used to place bets on matches and games.
Professional players use bookmakers as their main tool. Select it carefully, give preference to services that consistently pay a profit, with a good reputation and licensed activities.
You shouldn't bet everything on the outcome of one match. It is better to place several bets with different possible outcomes.
Then, even if the prediction is wrong, you will be able to recoup your investment.
Bitcoin betting is a method that ensures maximum simplicity and security of the game, and in the long term it is also a way to increase winnings.