How to Use Bitcoin for Sports Betting?

 How to Use Bitcoin for Sports Betting?

Every major sportsbook accepts Bitcoin, either exclusively or as an extra payment mode along with some altcoins. This Cryptocurrency has become a mainstream element for the Bitcoin casinos. Even, many of the platforms provide the no deposit bitcoin casino features to increase the adoption of Bitcoin casinos.

First of All Ask Yourself This, What is Bitcoin?

Putting it simply just like a dollar note which is an authentic legal tender. Similarly, Bitcoin is just as reliable and secure as a bill. Each one has a unique code associated with each payment address to verify the funds.

It gives you the spending power of a dollar without carrying around the paper bill. With fiat currencies every time you transact with your debit/credit card you have to pay expensive fees. If you want to eliminate these charges then Bitcoin is for you.

To get started, purchase Bitcoin from an exchange. How to buy Bitcoin?

You can purchase BTC in most countries around the world using a variety of different methods, including online exchanges and even face-to-face trades.

How to Use Bitcoin for Sports Betting?

We will take an example of the Coinbase Exchange and BlockChain.com wallet. Knowing that these are the best among the other exchanges and wallets.

Step 1:

Create an account in the exchange (Coinbase for example) using a simple registering process, which is a similar process to registering at PayPal. You will be asked for information on Two-factor authentication for extra security. Thereafter you will have to link your bank account with the exchange following banking account verification and a micro deposit.

Step 2:

Create a Bitcoin wallet ( BlockChain.com for example) by entering your personal details, verify and secure your wallet and start receiving Bitcoins. You will need a 32 character pin next to a QR code which is your wallet payment address. This is very important for the extra security of your money. The money comes from the Coinbase exchange to the wallet for added privacy.

Step 3:

Deposit & Withdraw Winning Using Bitcoin

A step-by-step guide to sending them to online betting sites, cashing out, and then converting them back into the fiat-currency.

To deposit:

Go to the Bitcoin page at sportsbookreview.com. You click on the desired Bitcoin sportsbook gambling site from the list and create an account once logged in. It takes one minute to do so.

After logging in click on the cashier page and click on deposit. Enter the decided amount in the “deposit amount in dollars” section (the real money is converted to digital currency)and click deposit. This will provide a Bitcoin payment address (which will show pending) . To complete the transaction go to the blockchain Bitcoin wallet and paste the payment address and the same amount and click to complete the process. It charges zero fees for the transfers.

To withdraw:

Get a payment transfer address from your blockchain wallet. Paste the address in the withdrawal tab in your sportsbook account. Enter the amount of Bitcoin you want to take out. click on confirm.

There are few operators that may require an extra layer of verification through their processes before you withdraw. Nothing to worry about these is similar to the verification that you have already dealt with. Operators guidelines on withdrawals and deposits have it all, just need to go through their terms and conditions and their rights reserved section.

Finally, you will have your winnings in your account instantly. Transfer that money to your bank account via the options provided by your Bitcoin exchange. This is how you finally get paid into your bank account.

Best Bitcoin Betting Sportsbook

Top gambling sites that accept betting with Bitcoin

  • Sportsbetting.ag – All in all best online sportsbook. Accepts all major credit cards and cryptos like Bitcoin, Litecoin, and more. Timely payouts can be expected. Sportsbook for betting NFL, NBA or NHL. Football-specific bonuses including live betting, team and player props
  • BetOnline – offers huge bonuses, Accepts cryptos like Bitcoin, Litecoin, Ethereum others. Accepts all major credit cards and cryptos like Bitcoin, Litecoin, and more. Timely payouts guarantees are provided. Posts NFL, NBA, and NHL odds earlier than other sportsbooks.
  • Betway – Provides big promotions throughout the year. Betway Plus enticing rewards program for players. Betting markets have soft odds. Live streaming options available for sporting events.
  • 888 sports – this is the most trusted betting site. You can get lots of promotions and bonuses throughout the year. Some of the best betting software online.

We have got you all covered and follow these steps and feel confident about using Bitcoin for sports betting. Get your winnings to roll into your banks. Visit the website or check sports betting news and updates to find more information on it.

Harold Mathews

Harold Mathews

Harold joined our team as a reporter while still studying, a job that suited him perfectly as he always prefers working on the stock analysis. He has a passion for new technologies, economics, finance, and is always keen to learn more about the ever-changing world of journalism. Harold also likes to explore new things in his free time.

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