There are many bookmakers who offer sports betting via BTC. Try your luck today!
If you pay exclusively with Bitcoin, then you remain completely anonymous with the bookmaker. You only have to deposit your email address. Certainly, this has certain advantages, but at the same time you should exercise a little caution. Because there is a negative factor here at the same time and this relates to the legal regulations as well as the compliance with minimum standards at the bookmaker. This means that in such a case, you should leave on your betting account only as much credit as you need for the current betting.
However, even the big and well-known bookmakers now offer the possibility to place sports bets with Bitcoin. However, these require registration and thus the creation of a betting account, which is only possible by entering personal data. In addition, an identity check is carried out in order to have the winnings paid out at the end. However, even in such a case, you can benefit from bitcoin payments: Because here, too, the payments are fast and no fees are charged for the transactions.
Are there any fees when betting on sports with Bitcoin?
If a Bitcoin transaction is carried out, then there is basically a small fee. Thus, within the blockchain, a so-called gas price is charged for each payment transaction. The payment sender can set this himself. As a rule, however, a default value is used for the variable gas price, with which the payment order is then incorporated into the blockchain.
If you use a market gas price that exceeds the default, then this will speed up the transaction. If the bitcoin is exchanged for another currency such as the euro, then there is also a fee for this. The problem is that this exchange fee is still quite high and therefore many of the Bitcoin fans continue to use the traditional payment options.
However, Bitcoin users are used to quite a bit in terms of costs when it comes to a voluntary money exchange due to the highly fluctuating rates of the cryptocurrency.
Alternatives to sports betting with bitcoin
You have already learned quite a bit about what Bitcoin sports betting is all about and what advantages and disadvantages it has, but also what to look out for. Certainly, it is relatively convenient to deposit and withdraw with bitcoin, but it should not be forgotten that there are quite a few alternatives that can easily keep up with bitcoin.
Surely, it would be a dream if sports betting providers offered betting with ELV (electronic direct debit), but this option does not exist. However, you can make a deposit via online banking at any time. For this, you can use the direct payment providers such as Klarna (Sofort) or also Trustly. With these payment options, the money is also available to you in the shortest possible time. With a usual bank transfer, however, it takes two to three days until the money is credited to the player’s account. This is certainly not an option for live betting. In this case, payment providers such as Skrill, PayPal or NETELLER are available, with which you can also deposit anonymously.
FAQ – the most important questions & answers
Does every betting provider offer Bitcoin as a payment option?
In the sports betting sector, Bitcoin or cryptocurrencies in general are not yet too widespread. However, there are already some well-known betting providers that have included this payment option. Surely, in the near future, top providers will also decide to include bitcoin as a payment option.
Are there any alternatives to bitcoin?
When it comes to deposits and withdrawals, bookmakers have good alternatives that can be classified as secure and reputable at the same time. The eWallets such as PayPal, NETELLER or Skrill are popular. But also the prepaid variant Paysafecard enjoys great popularity as well as the direct payment options Trustly, credit card or Klarna (Sofort).
Are there limits for payments with Bitcoin?
As far as limits on sports betting with Bitcoin are concerned, it should be noted that they are considered differently than those with common currencies (Euro, USD). The reason is that bitcoin is subject to sometimes violent price fluctuations. As a result, the limits vary in thousands of euros on a given day. This makes it difficult for bookmakers to specify exact limits.
How do I find a Bitcoin betting provider?
Under no circumstances should you blindly register with a betting provider – even if they offer Bitcoin as a payment option. If the provider has a reputable license and offers Bitcoin as a payment method, then you can sign up without hesitation. Read the T&Cs carefully and compare the providers in our list so that you can enjoy your betting experience without any worries.
Do Bitcoin sports betting providers also offer live betting?
Surely, Bitcoin betting providers also offer live betting. Bitcoins are very suitable for placing live bets, because the account can be replenished in seconds if an excellent betting option with top odds suddenly appears. Winnings can also be moved directly back into the wallet afterwards.
What criteria should be used to select a sports betting provider?
Indications of a serious gaming orientation are the European licenses from Malta or Gibraltar, as well as the Curaçao license. Meanwhile, there are also some sports betting providers that have a license from Germany. If no reference to a license can be found, then you should refrain from registering or making a deposit.
The advantages and disadvantages of Bitcoins
Pros
- Sensitive bank and credit card details do not have to be provided
- It is possible to bet anonymously
- Special Bitcoin bonus offers are sometimes offered
- Betting credit can be transferred without any problems
- Fast deposits and withdrawals
Cons
- Strong price fluctuations
- The development of Bitcoin & Co. is uncertain
- Bitcoin bookmakers without a license are often dubious
- There is no unlimited anonymity (keyword registration)
- not all bookmakers accept Bitcoin payments
Conclusion: sports betting with Bitcoin – future or just a short trend?
Bitcoin is without question a good payment alternative that can be classified as anonymous, secure and fast. We have to admit here that the Bitcoin logo is not yet to be found at the major providers, but it can be assumed that the potential that the cryptocurrency has is far from exhausted in the sports betting sector.
We believe that sports betting with Bitcoin has a future and is not just a trend. After all, cryptocurrencies are becoming more and more popular and does not appear that they are going into reverse. In short, it can be assumed that this trend will soon continue to conquer the sports betting market.
Meanwhile, the best betting providers can be found in the list of sports betting with bitcoin and score points for their innovativeness among players as well as an extensive betting offer. After ApplePay, bitcoin has expanded the payment methods at many bookmakers and there will certainly be more changes that will make sports betting more and more interesting, due to the ease of payments.
In conclusion, only one thing can be said: the Bitcoin enjoys a good reputation and for this reason, some betting providers simply do not want to do without this payment option anymore, as it brings monetary advantages. There is simply nothing against trying out sports betting with Bitcoin when it comes to good betting odds, lucrative bonus offers and possible exchange rate gains.