- What’s Bitcoin Football Betting?
- Why Do People Choose Football Betting with Bitcoin?
- How to Start Betting on Football with Bitcoin
- Popular Football Betting Markets on Crypto Gambling Sites
- Tips for Bitcoin Football Betting
- Finding Value when Betting on Football with Bitcoin
- How to Choose a Site to Bet on Football with Bitcoin
- 10 Best Bitcoin Football Betting Sites
- The Most Popular Cryptocurrencies for Online Football Betting
- Advantages of Bitcoin Football Betting
- Disadvantages of Crypto Sportsbooks
- Bitcoin Betting on Football – FAQs
In this crypto sports betting guide, we provide well-rounded and easy-to-digest information on why it’s worth the risk and how to start. We’ve also reviewed the top 10 best crypto betting sites, their advantages, disadvantages, and other relevant information to help Bitcoin sports betting punters.
What’s Bitcoin Football Betting?
Bitcoin online football betting works the same way as traditional betting sites, but punters wager using their cryptocurrency. The bookmaker offers different possibilities for a football match, and you can choose any option you want to wager on.
Like traditional sports betting sites, crypto football betting sites that accept Bitcoin require you to create an account before you start wagering. So, if the user wants to start wagering on the English premier league (EPL), you’ll need to register and log in to your account to access the sports betting section.
Why Do People Choose Football Betting with Bitcoin?
While cryptocurrencies are still widely misunderstood by people worldwide, they’ve become quite popular in the sports betting market. Here are several good reasons why people are increasingly embracing crypto sports betting.
✅ Security and Privacy
The biggest benefit of cryptocurrency is the level of privacy and security it offers that traditional fiat currencies can’t replicate. Cryptocurrencies are also unregulated, which means players have more control over their cash as they Bitcoin bet football on cryptocurrency sports betting sites.
💸 High Betting & Withdrawal Limits
The betting and withdrawal limits vary from one sports betting crypto site to another, but most bookies allow punters to place large sports bets and make massive withdrawals. You’ll still need proper bankroll management skills to avoid being carried away, but crypto betting is worth it for people with the money to spend without being restricted by betting limits.
👍🏻 Faster Transaction Speed
Bitcoin betting also helps you place sports bets and withdraw cash faster than when working with fiat currency. Most online betting sites are generally fast when finalizing transactions, but withdrawing your funds can take some time, especially if you consider the security and banking regulations.
On the other hand, bettors can deposit their Bitcoin from their wallets within seconds and start wagering immediately. Naturally, Bitcoin sports betting sites will also directly transfer your winning as quickly as depositing funds.
😃 Less Risk
Crypto betting websites are less risky than traditional online betting sites. While crypto is notoriously volatile and always comes with a risk when trading with it, many Bitcoin betting sites will convert your crypto into US dollars when wagering. That alone shields you from any volatility associated with Bitcoin.
🤑 Larger Bonuses
Online sports betting sites offer promotions and bonuses all the time. Most of these bonuses are available to players who like betting, but some offers are exclusively available to bettors who use cryptocurrencies like Bitcoin. If you’re aware of where to look, you can make more cash by simply sticking with crypto sports betting sites while you bet football with Bitcoin.
How to Start Betting on Football with Bitcoin
If you’re familiar with how the football betting Bitcoin markets work, you can start checking out crypto betting sites to bet on your favorite teams and matches. Here’s how you can start wagering on online crypto football betting websites online in a few steps.
- Choose a crypto wallet. There are different types of Bitcoin wallets for storing your crypto. Some wallets require installing a desktop client, but some work directly from the web. Whichever choice you make, we recommend choosing reputable and reliable wallets like Ledger Nano X, Exodus, Electrum, Mycelium, and others. Remember to keep your crypto wallets private to ensure nobody can steal your Bitcoin.
- Create an account at a crypto football betting site. After setting up your Bitcoin wallet, creating an account at the crypto sports betting site of your choice is the next logical step. We recommend punters look into the best crypto betting sites on the market, as leading operators provide huge bonuses during the initial stages. Safety is also involved when dealing with established Bitcoin betting sites.
- Get Bitcoin from an exchange. Buying Bitcoin from an online crypto exchange is fast and simple. Start by contacting the sellers offering the best Bitcoin price and make them an offer. You can indicate the Bitcoin amount you need and get the equivalent in your preferred currency. After paying for the Bitcoin, mark your trade as paid to have the seller transfer the crypto to you. You and the seller are free to complete the transaction, and everyone goes home happy.
- Depositing Bitcoin into your crypto sportsbook account. Once you’ve created a crypto betting account and acquired the Bitcoin from an exchange, you can deposit the cryptocurrency and start betting. To deposit your Bitcoin, log into your betting site and choose cryptocurrency as your preferred deposit method. Most crypto sports betting sites will give you a BTC address to send your funds and start wagering. Just copy the Bitcoin address properly to ensure your Bitcoin doesn’t get lost. Once the Bitcoin is sent, give it about 15 minutes for it to reflect on your crypto sportsbook.
- Browse football betting markets. If you’re planning to wager on a specific football league like the English premier league, ensure you’re well-versed with the teams playing and the betting markets available. You can select the betting markets you’re most familiar with and place your wager based on value.
- Place your wager and track your bets. After depositing your Bitcoin and browsing the football betting markets you like, it’s time to make that decision and place sports bets. If you’re new to football betting in general, learn from veteran punters, as they’re better at keeping track of their bets.
- Cash out your profit. If you follow the above six steps for football betting with Bitcoin, you should at least cash out some profits at the end of it all.
Popular Football Betting Markets on Crypto Gambling Sites
There are thousands of football games hosted across different leagues every week, with even more betting markets available for gamblers. That includes single bets and accumulators, where punters can wager on more than one outcome in one betting round.
The most popular BTC football bet types you’ll find on leading crypto sports betting sites include:
Match bet is the simplest type of football betting market as it only involves predicting the match results at the final whistle. You can bet on the three different outcomes available; home win, draw, or away win. Please note that match bets are paid after 90 minutes, so if a match ends in a draw by that time, that will be the winning bet regardless of the results after the penalty shootout.
Bet builders are among the new markets in football betting, but it has increasingly become popular in recent years. Also known as same-game multis, the market is essentially about choosing an accumulator with predictions from a single game instead of multiple matches.
Because of the number of outcomes that players need to predict, the bet builder has less chance of paying off for beginners. However, it’s the perfect bet if you’re highly knowledgeable about the teams playing and want to stake low for a chance to win high.
With this type of football bet, you can increase your odds by combining different outcomes like a number of corners, yellow cards, and goal scorers instead of betting on each individual market. You can also include player props, as explained below.
Player props show how the football betting industry has continued evolving with more in-depth markets released for various EPL and international matches. The bets differ from the goalscoring or card markets, featuring the ability to wager on players with a certain number of tackles, shots, and offsides.
The ever-growing player props market has also led to some intriguing bets like the number of goal kicks, free kicks, and throw-ins in a match. What’s on offer will differ from one crypto sports betting site to the other, but most leading platforms are offering player props.
To boost the odds, experienced punters can wager on the results of the game by half-time and by full-time in one single bet. For instance, you can wager on the home team to win during the first half and the away team to win by full-time or any other combination you desire.
This betting market is best suited for experienced football betting fans with prior knowledge to know the teams that start matches weakly or strongly. Knowing the teams’ starting lineups and players being rested or out on an injury will also be advantageous for this type of bet.
The double chance is another beginner-friendly football betting market that minimizes the player’s risk but offers low odds. This betting market allows you to wager on two possible outcomes, with the combinations including:
- Home or away team to win;
- Home team or draw;
- Away team win or draw.
For instance, if you wager on the home or away option, you’ll win no matter which team wins, but you’ll lose your Bitcoin if there’s a draw. Unfortunately, the odds are significantly reduced due to the low risk involved.
Over and Under Betting
Over and under betting involves wagering on whether certain aspects will exceed a certain number or not. That includes the number of goals, yellow cards, and corners in a game.
Crypto sportsbooks give a baseline number in a game and you can bet whether the final results will be more or less than the allocated number. This baseline number is set in decimals to ensure the results will either be above or under the number.
For instance, you can wager on a game to result in under 2.5 goals, meaning you’ll win when the total number of goals is less than 3 goals. Likewise, if you wager on over 2.5 goals, you’ll win your bet if the game results in more than 2 goals since there’s no way a match can end with 2.5 goals.
In-play betting is all about betting on a football match while it’s being played. Bookmakers offer a wide variety of in-play betting markets, such as the next team to score, the net goal scorer, which team will get the next throw-in or corner kick, and more.
Tips for Bitcoin Football Betting
While Bitcoin betting sites are increasingly becoming popular in the gambling industry today, you’ll need a few tips to keep things competitive. Here are several Bitcoin football betting tips that will increase your chances of being profitable in your endeavor.
Tip #1 – Establish Your Football Knowledge
As with any type of online casino game, you need to be familiar with football before you start risking your crypto. You’ll need to know the rules, the available football leagues, and other relevant information about the games you want to bet on.
Since football betting with Bitcoin presents a wide catalog of markets to choose from, having a good grasp of the game mechanics is a must. After all, it’s unwise to wager on a team or a player without comprehending their history or other factors that might influence their performance.
Tip #2 – Proper Bankroll Management
Proper bankroll management is essential for every sports betting enthusiast trying to make a profit at a crypto sportsbook without breaking the bank. As a crypto gambler, you must learn how to manage your money properly to give you a solid chance of making a million. Here are several bankroll management tips to keep in mind when wagering at crypto sports betting sites:
- Flat Staking Model. The flat staking model is the best bankroll management technique for beginners. The technique involves betting the same amount of cash in every betting round. For instance, if you have $1000 worth of Bitcoin or Bitcoin cash, you can choose to wager 5% of it in every bet regardless of whether you win or lose. This tip improves your chances of winning without complex betting systems.
- Don’t Invest Your Money. While Bitcoin betting might seem like a great way to invest your crypto and increase it with time, it doesn’t come without its risks. Remember that sports betting should be for entertainment purposes and you have other responsibilities in the real world. Only invest the cryptocurrency or money you’re willing to lose and not committed to other household expenses.
- Prioritize Betting Odds. If you’re new to football betting, leveraging the betting odds on any site is essential. Prioritizing the betting odds helps you to accurately estimate the risk-reward ratio, which is essential in minimizing your losses. Additionally, it helps you find value bets when on crypto sports betting sites.
Finding Value when Betting on Football with Bitcoin
Finding value in a football betting market when wagering with Bitcoin is a two-step process. First, you’ll need to assess the probability of the possible outcome in a game and compare it to the probability of the bookmaker’s implied odds shown by the related odds. Comparing the probabilities is easy, but the first step isn’t.
Football matches are very unpredictable, and assigning precise probabilities to different possible outcomes is almost impossible. There are many variables to consider, so we can only trust our judgments when assigning probabilities. There’s no wrong or right approach here as it’s more of an art than science. It’s all about how you interpret the information available to you.
You need to research and get as much information about the football match as possible, but remember there’s still room for surprise results. Less experienced bettors will find it easy to identify value in less complex markets like match result and goalscorer or those with low risk like the double chance.
When betting, punters should identify a positive value. That means the probability of the bet winning is higher than what the odds indicate. For example, when a bookie offers 1.7 odds for an over 2.5 goals bet in a match, but the true probability stands at 70%, then it’s a value bet.
The formula to estimate the value of a bet on football games is:
- Value = (True probability x decimal odds) – 1: There’s a value bet if the result is greater than zero.
- In the example above, we can calculate the value by : (0.7 x 1.7) – 1 = 0.19 ) – which means there’s positive value.
Unfortunately, finding true probabilities in a football match might be difficult, which is why it’s important to do in-depth research.
How to Choose a Site to Bet on Football with Bitcoin
Before registering on a crypto sportsbook, you must ensure the website is secure and reliable. Here’s how you can find the best Bitcoin betting sites to wager on different local, national, and international football games.
✅ Betting Market Selections
A good crypto betting site needs to offer many sports markets with games across different leagues for you to wager on. The more matches are available for the punters, the higher their chances of winning as they can access the leagues they love most without having to learn everything afresh.
Trying out your luck in different leagues can also aid punters in developing a holistic betting regimen. As such, ensure the crypto betting platforms you choose feature all the major and minor football leagues worldwide, including the EPL, La Liga, Ligue 1, Bundesliga, and others.
✅ Simple Navigation when Playing
Your Bitcoin sportsbook needs fluid navigation that runs seamlessly on different devices. Many sports punters also highly appreciate Bitcoin betting sites that allow them to customize the layout based on their needs. Additionally, the best Bitcoin betting sites accept player feedback with utmost generosity and positively work on suggestions to improve your experience.
✅ Easy Sign-Up Process
A good crypto football betting site must have a fluid sign-up process. No paperwork should be involved, as everything can be done online. If a crypto bookmaker provides a seamless sign-up process, then you can easily create an account and start betting immediately. Fortunately, tip Bitcoin betting sites always feature a welcoming sign-up page.
✅ Welcome Bonuses
If you want to reap more benefits while betting on football, look for a Bitcoin sportsbook that offers great deposit bonus options. You’ll also need to read the terms and conditions attached to the welcome bonus to make an informed decision.
You won’t be able to withdraw your welcome bonuses immediately after joining a Bitcoin sportsbook, but you can use the cash to test different betting strategies and try your luck. However, check the wagering requirements, as some crypto gambling sites set unreasonable conditions.
✅ Mobile Crypto Football Betting
The compatibility of a crypto betting site with mobile devices is an important factor for punters who like betting while on the go. Mobile betting has been a growing trend in the sports betting market over the last decade, prompting the top BTC sports betting sites to launch mobile betting apps. The cryptocurrency sports betting website you choose must also be accessible via a mobile browser.
✅ Low Commission Fees
The best Bitcoin sportsbooks should feature low commission fees to maximize the profits for their players. As such, look for a crypto gambling site with relatively moderate fees when withdrawing or depositing your cryptocurrencies.
✅ Industry Reputation
What comes to mind when you think of trying a new restaurant? You’ll probably check out some online reviews and consult your friends or family who have tried out the place to know whether it is worth your money. That’s the same approach that football bettors should take when looking at crypto bookmakers.
If a cryptocurrency betting platform has had a bad reputation among its customers, you’ll want to stay clear of them. We understand that some customers may bash a crypto betting platform after losing money due to their bad choices, so we advise focusing on mass trends where an issue is repeatedly mentioned in different reviews.
How seriously a crypto sports bookie takes the security of their users is key. Ask yourself whether the bookmaker can properly protect your money and personal information, with industry-standard banking systems. For that, consider whether the site’s software and technology are kept up to date and whether they prioritize their player’s security.
✅ Live Football Betting
In the age of live casino games and football streaming, almost every betting site is offering live betting. The live Bitcoin football betting element adds an exciting element to the football experience while allowing bettors to get a strong grasp of the betting scheme.
10 Best Bitcoin Football Betting Sites
While you can use the tips above to choose a good Bitcoin betting site, finding a trustworthy platform from the thousands available online might feel overwhelming. Here are the 10 best Bitcoin betting sites we can recommend to beginners and professional sports bettors.
|Site||Main Feature||License||Main Bonus|
|BC Game||Best Bitcoin welcome bonus||Curacao||Up to 840% deposit match up bonus in four installments|
|CloudBet||Best crypto betting site with eSports||Curacao||100% welcome bonus up to 5 BTC|
|BetOnline||Best Crypto gambling site for live betting||Panama Gaming Commission||100% matchup welcome bonus up to $1,000|
|Bovada||Best Cryptocurrency betting site for US players||N/A||75% matchup deposit bonus up to $750|
|Stake||Best soccer betting odds||Curacao||200% welcome matchup bonus up to $1000|
|Sportsbet.io||Best crypto prizes for combination wagers||Curacao||$40 free bet|
|BetUS||Best Live sports analysis and shows||Curacao||150% matchup bonus up to $3750|
|GTBets||Best user interface for mobile users||Curacao||100% matchup bonus up to $500|
|MyBookie||Best crypto site for parlay bets||Curacao||100% welcome matchup bonus up to $1000|
|XBet||Best crypto site for NFL betting||Curacao||100% matchup welcome bonus of up to $500|
BC.Game: Best Football Betting Bitcoin Site
- Very good industry reputation
- Superior customer service
- High-end welcome bonus and VIP program
- Supports 30+ cryptocurrencies
- Features a Curacao gaming license
- No anonymous sports betting
BC.Game is arguably the best Bitcoin sportsbook for football punters looking for the highest welcome bonus. This online sports betting website operates under the Curacao gaming authority and supports 40 sports leagues, including soccer, American football, horse racing, and more.
Besides its outstanding 840% welcome bonus, BC.Game stands out from the rest as it supports 30+ cryptocurrencies, including Bitcoin, Ethereum, Shiba Inu, Polygon, and others. Additionally, this sports betting crypto site offers competitive odds for major football tournaments and comes with a handy quick-bet feature.
CloudBet: Best Crypto Betting Site with eSports
- Massive 100% welcome bonus up to 5 BTC
- Daily coupons for improved odds
- Payouts are available in 12 crypto tokens in minutes
- Impressive selection of virtual sports offerings
- No reload bonuses for returning punters
Also registered under the Curacao gaming authority, CloudBet is among the top Bitcoin betting sites for players looking for football, virtual sports, and other online casino games. This Bitcoin football betting site offers live betting options on popular competitions and coupons to bet on specific games daily. You can use these coupons to find better odds on overlooked games, but their odds are very competitive in general.
While CloudBet doesn’t support the same wide selection of cryptocurrencies as BC Game, it supports several popular altcoins. That includes commonly accepted cryptocurrencies like Bitcoin, Litecoin, Ethereum, POAX, Dogecoin, Chainlink, and more. Additionally, it offers an inviting 100% welcome bonus worth up to 5 BTC.
BetOnline: Best Bitcoin Live Betting Site
- Excellent live betting options
- Supports soccer, eSports, and horse racing
- Impressive 100% matchup welcome bonus
- 35% reload bonus for crypto bets
- Only accepts three crypto tokens
- Crypto welcome bonus only available to players in the US and Canada
BetOnline is among the best cryptocurrency betting sites for wagering on live sports. Their live sportsbook features games on major leagues, including the English Premier League, NHL, NBA, MLB and NFL. It also has a wide selection of pre-match offers that support betting on virtual sports, horse racing, golf and others.
Unlike CloudBet and BC Games, BetOnline isn’t a crypto-first bookmaker. There’s a welcome bonus for cash and credit deposits, with bettors limited to making their crypto deposits in Litecoin, Ethereum and Bitcoin. Still, it gives crypto bettors some very nice features.
For starters, cryptocurrency bettors get a higher welcome matchup bonus of 100% instead of the 50% cash punters get. Additionally, punters get a 35% reload bonus for all their subsequent crypto deposits.
Bovada: Best Cryptocurrency Betting Site for American Players
- Fast withdrawals without extra charges
- Wide selection of sports and casino games
- Reasonable wagering requirement (5X) for the welcome bonus
- No reload bonuses for loyal punters
Bovada is among the most popular cryptocurrency sports betting sites and online casinos used in the US. Their sportsbook section packs over 30 sports leagues and features a wide selection of live wagers. Unfortunately, their odds aren’t always the best, but it makes it up for punters by offering more props than almost every other crypto gambling platform.
This crypto gambling platform is especially outstanding for punters who like wagering on soccer and horse racing. They accept several popular crypto tokens, and new punters get a special bonus for choosing crypto bets.
New bettors can claim up to $750 in the welcome bonus, with $20 being the minimum required amount to redeem the offer. Bovada also makes deposits and withdrawals simple, with no extra fees except the network charges. Additionally, the minimum withdrawal limits are very reasonable for all the coins.
Stake: Best Crypto Football Betting Odds
- Impressive 200% (up to $1000) welcome bonus
- Very competitive odds
- An extensive list of cryptocurrencies
- A wide array of betting options
- No mobile betting app
- Overwhelming user interface for inexperienced punters
Stake is a new but among the best crypto betting sites for soccer punters looking for solid odds and a wide variety of leagues. With Stake, you can make a crypto bet on the EPL, Bundesliga, champions league, Super Ligue, La Liga and more. Additionally, you can wager on 17 other sports, but the selection may not be as wide as what other crypto betting sites offer.
Most people choose Stake as it supports a wide range of cryptocurrencies, with deposits attracting a 200% bonus up to $1000. Additionally, this fully licensed sportsbook offers you MoonPay, a direct outlet that lets you buy any accepted crypto tokens using your Google Pay, Mastercard, Samsung Pay, or Apple Pay. Canadian players can also access Interac.
Sportsbet.io: Best Cryptocurrency Bonuses for Combination Bets
- Amazing combo bets with impressive payouts
- Fast withdrawals
- Accepts many virtual currencies
- Great mobile app with responsive customer support
- No deposit match-up welcome bonus
Sportsbet is among the best BTC betting sites for football punters looking to make combination bets. It gives you several featured wagers like 4-3-free and 6-6 free that offer huge payouts to the winners. For instance, the free-6-6 bet allows you to win up to $10,000 in crypto when you correctly predict the scores of six games.
Besides their impressive offers, Sportsbet.io features games from 40+ major sports leagues, including soccer, eSports and more. Their game selection is quite impressive, with a wide variety of prop bets for the games they offer. However, the bonus offers are limited as new punters only get $40 free bets.
BetUS: Best Live Sports Analysis and Shows
- Fast withdrawals without extra charges
- Insightful live sports analysis and shows
- Great reload bonuses for returning players
- limited cryptocurrencies (BTC, LTC, ETH & BCH)
Another great cryptocurrency betting website licensed by the gaming commission of Curacao, BetUS accepts bets on 27 different sports, including soccer. It also offers one of the best live betting platforms with competitive odds for major games.
What sets BetUS apart from other Bitcoin betting sites is its live sports analysis and TV production. Their sports analysis shows give punters insights into different sports, including soccer, boxing, MLB, NFL and more. These sports shows are well produced, helping have a clear picture of how upcoming matches might end, something that’s rare to see an online betting platform offering their customers.
The only drawback of BetUS is that it only supports four cryptocurrencies. However, BetUS makes up for that with amazing crypto bonus offers that reward new and returning punters. New punters get a 150% sports deposit match up bonus of up to $3,750 while returning punters $1000 for their next two deposits.
GTBets: Best User Interface for Mobile Users
- Realistic and achievable bonuses
- Mobile-friendly user interface
- High security measures
- No anonymous betting
Launched in 2011 under the curacao gaming authority, GTBets is among the best beginner-friendly cryptocurrency betting sites on the market. It has a simple, clean and easy-to-navigate user interface that helps you to access the betting markets within seconds. Even better, it’s among the most responsive Bitcoin betting websites for mobile punters.
GTBets takes the security of their players very seriously, requiring their users to use their official government documents and verify their identity when signing up. Unfortunately, many punters criticize this step as it doesn’t leave room for anonymous betting.
As far as promotions are concerned, GTBets has all you need. New players are welcomed with a 100% matchup bonus of up to $500, with a 12X wagering requirement. Returning players can also claim up to $250 in their 50% reload bonus.
MyBookie: Best Bitcoin Betting Site for Parlay Bets
- Customizable parlay bets for maximum payouts
- Quick Bitcoin payouts
- Wide variety of football leagues
- Rewarding bonus deals
- Only one Bitcoin withdrawal per week
Launched in 2014, MyBookie is among the top BTC football betting websites that have been constantly growing and improving for years. MyBookie is also the ideal choice for Sports punters who enjoy parlay betting.
With MyBookie, you can access traditional parlay bets and a wide variety of sports betting features with maximum payouts. Punters can leverage teaser wagers that allow them to combine two different bets to boost their odds. Additionally, MyBookie offers customizable parlay bets with odds boost for high stakes.
New players get a 100% matchup bonus of up to $1000 with a 10x wagering requirement. Bitcoin punters will also enjoy fast payouts, although they only allow one Bitcoin withdrawal every week.
XBet: Best Cryptocurrency Sportsbook for NFL
- Future betting for NFL
- Attractive football odds
- Fast crypto transactions
- No live streaming feature
- Huge wagering requirements
For football enthusiasts looking to take their NFL experience to the next level, xBet is among the best Bitcoin sportsbooks you can use. It features a wide range of football betting markets while allowing you to predict the future during the offseason.
xBet facilitates crypto transactions in Bitcoin, Litecoin, and Bitcoin cash. Punters benefit from fast transactions, with new players also receiving a 100% welcome bonus for amounts reaching up $500. You also get a 25% reload bonus every time you deposit, giving you up to $250 more. However, the bonus attracts a huge 40X wagering requirement and there are no live streams for the sports action.
The Most Popular Cryptocurrencies for Online Football Betting
The rise of blockchain technology has given rise to over 2000 cryptocurrencies. However, most cryptocurrency betting sites only accept a few virtual currencies. Here are the top five digital currencies available on online casino betting websites today.
A market leader, Bitcoin is a decentralized virtual currency worth over $1.78 trillion in market value, with a price of more than $19,748 (as of September 6). The Bitcoin blockchain is a publicly accessible database that keeps track of all Bitcoin transactions.
According to market research, almost 19 million Bitcoins have been mined thus far. In market leadership, it is projected to encounter severe competition from other cryptocurrencies.
How does Bitcoin work in sports betting?
Bitcoin has one of the largest market capitalizations in the online sports betting sector. According to market research, the first virtual currency has grabbed a stunning 41.9 percent market share by 2022, providing considerable coverage over the 2000 active cryptocurrencies.
Given Bitcoin’s dominance in the cryptocurrency market, it’s easy to see why it’s the most popular cryptocurrency in the sports betting sector. However, before entering the crypto sports betting industry, individuals who are new to it must first obtain a Bitcoin wallet.
You should note that a wallet is equal to a standard bank account. After that, the remainder of the process is the same as when betting with fiat money.
Ethereum is an open-source blockchain first launched in 2016, featuring smart contract capability. Regarding market capitalization, Ethereum is only second to Bitcoin among cryptocurrencies. Ethereum’s current market worth is about $487 billion.
According to market research, there are over 100.7 million ETH tokens in circulation. In sports betting, this virtual currency has a 19.4 percent market share, with each unit costing $1654.96.
How is Ethereum used in sports betting?
Those who choose Ethereum over Bitcoin for sports betting must follow a whole different approach. For starters, after choosing your deposit amount, you must obtain an ETH address from your cryptocurrency sportsbook. You may then send the appropriate amount of ETH to the Ethereum sportsbook address using a cryptocurrency wallet or exchange.
The time it takes to transfer Ethereum will depend on how crowded the ETH blockchain is. It usually takes a few minutes to a few hours, and when the ETH arrives at the sportsbook’s address, the currency will be credited to your betting account. It is vital to note that once processed, the money will no longer display as Ethereum since it will be changed to the currency you specify.
Ripple is a currency exchange, real-time gross settlement, and remittance network launched by a US-based tech company, Ripple Labs. This cryptocurrency has a market capitalization of over $16.64 billion.
Compared to Ethereum and Bitcoin, the price of every Ripple token is less than 50 cents. According to market research, there are over 49.6 billion XRP tokens in circulation by this writing.
What distinguishes Ripple in the sports betting market?
Many sports betting enthusiasts choose Ripple as the transactions are completed faster. While Bitcoin transactions may occasionally take about 10 minutes, XRP transaction confirmations take about 3-5 seconds. That’s because the architecture of XRP processing allows for around 1,500 transactions per second.
Since Ripple also employs blockchain technology, Bitcoin is necessary to purchase it for you to start using it in sports betting. As a result, utilizing Ripple is typically best for individuals who are already familiar with Bitcoin.
Once you have XRP, you must make a transfer request to your crypto gambling site. You can only make the transfer after submitting the request, just like any virtual money.
Bitcoin Cash (BCH)
Bitcoin Cash is a virtual currency developed via a hard fork as a spin-off altcoin launched in 2017. The cryptocurrency was built when Bitcoin got incredibly popular, causing all sorts of scaling concerns.
Bitcoin Cash is now one of the most valuable cryptocurrencies, with a total market cap of almost $2.4 billion and a token price of $122.94. According to market capitalization, it has a total circulation of more than 17.2 million BCH.
Sports betting using Bitcoin Cash
Following BTC and ETH, Bitcoin Cash is the third largest crypto asset in market share, accounting for 0.6% of the total share as of 2022. The fact that Bitcoin Cash’s blockchains are larger than Bitcoin’s provides it an edge over BTC, particularly in sports betting. That supports more transactions per second.
Because of a lack of understanding of Bitcoin Cash, this cryptocurrency is less expensive than its more well-known counterpart. As a result, it’s less likely to be offered as a payment method on sports betting sites.
EOS is a blockchain technology created to remove transaction costs and can process millions of transactions in a second. EOS provides superior features and guarantees the many smart contract technologies available. For example, it combines the security of Bitcoin with the processing power of Ethereum.
This cryptocurrency also provides a full operating system for web-focused decentralized apps, including cloud storage, user authentication, and server hosting. It has a market worth $895 million with a total token supply of about a billion.
Is there any use for EOS in sports betting?
While EOS promises to be more scalable and faster than Ethereum, it hasn’t managed to outperform BTC or Ethereum in sports betting. Placing a wager with an EOS coin, like any other currency, necessitates using a wallet.
To acquire the coins, one must go through an exchange site, meaning you should anticipate paying a charge. Once you have money in your wallet, the next step is to register with an EOS-regulated betting site. It’s vital to note that you must select EOS as your preferred payment option when joining up.
Advantages of Bitcoin Football Betting
👍🏻 No third parties involved
The main issue with traditional banking methods is that they always involve a third party to facilitate the transactions. If you’re using a bank-issued credit/ debit card, for instance, your bank will serve as the intermediary. As such, your bank can reject your sportsbook deposit if it feels the need to do that.
Banks also follow strict laws set by your jurisdiction. That means a financial institution can block your casino deposit on legal grounds where necessary. Fortunately, no institution controls Bitcoin as it’s a peer-to-peer network involving only you and the intended recipient (crypto betting site).
👍🏻 Low fees on payouts
Some banking options attract high transaction fees that reduce your bankroll. For example, if you withdraw your cash using Skrill/ Neteller, you’ll pay a 3% commission on the cashout amount. Even worse, gamblers using wire services can lose up to $35 per withdrawal.
While Bitcoin isn’t truly sentient, you’ll only need to pay a small fee that goes to miners who facilitate your transaction. You generally pay 1% or less of the funds you’re moving. For instance, if you’re moving around $500, it will cost you about $5 or less.
👍🏻 Quick withdrawals
Each banking method differs in how fast you’ll receive your money after cashing out. Withdrawals via your e-wallets will generally reach your account in 24 or less, while bank transfers can take up to a week to arrive. However, Bitcoin transactions are generally faster than e-wallets and bank transfers as they allow players to get their cash in hours. Some crypto casinos also offer instant Bitcoin deposits and withdrawals.
👍🏻 High anonymity level
Depending on your preference, you may not like your transactions in online casinos to show on your e-wallet or credit card statements. The information might easily find its way to your business associates and creditors, which might affect your financial reputation.
By comparison, BTC betting offers a higher anonymity level than your average banking methods. Most BTC betting platforms use your wallet address to identify you, so nobody knows when you’re playing online casino games. However, some casino platforms might ask you to verify your identity.
👍🏻 Access to more online bookmakers
Many mobile sportsbooks operating in an unregulated market have started embracing Bitcoin as it allows them to connect directly with their customers. That gives football punters access to more Bitcoin betting sites, which helps users when hunting for odds. Some countries also have restrictive gambling laws that make it hard for local financial institutions to facilitate betting deposits.
Since Bitcoin is independent of banks, football punters don’t have to worry about restrictive laws hampering their activities. They can access thousands of betting platforms from across the world.
Disadvantages of Crypto Sportsbooks
👎🏻 Bitcoin is highly volatile
Bitcoin’s price bounces up and down by the day due to the limited number of digital coins in circulation and their increasing demand. By the beginning of 2022, this cryptocurrency was trading at $38,000 per Bitcoin. By August, its price had reduced by almost half, trading at roughly $19,800. As such, it’s not recommended to keep your Bitcoin reserves unless you’re planning to HODL.
👎🏻 Not a household banking method
While Bitcoin has a 78% penetration rate in the iGaming market, it’s always available as a banking method in many casino platforms. That said, BTC’s adoption worldwide is constantly growing, mainly across modern betting brands.
👎🏻 Bitcoin is untraceable
BRC’s anonymity is seen by many players as an advantage, but it also often encourages criminal activities as it’s easy to walk away with fraud. To minimize the risks, top crypto platforms are creating several in-built monitoring systems to protect their players. However, not all crypto betting sites are trustworthy.
In the digital age of decentralized finance (DeFi), more and more football betting platforms are integrating Bitcoin into their offering. Bitcoin betting sites simplify the gambling process while providing a safer betting environment for bettors. However, crypto betting has its pros and cons, so keep that in mind before signing up at one of the top BTC betting sites listed above.
Bitcoin Betting on Football – FAQs
❓⚽️ ➤ Are crypto football betting sites with Bitcoin legal?
Yes. Wagering on football with cryptocurrency isn’t different from wagering using fiat currency in most jurisdictions. However, some countries have outlawed all sports gambling activities, which also makes crypto betting illegal. However, players will hardly get arrested for gambling with crypto.
❓⚽️ ➤ Is it safe to bet on football with Bitcoin?
Yes. Since placing bets with crypto is similar to using fiat currency, it’s safe to use Bitcoin to wager on soccer. Some online betting platforms even convert your crypto to allow you to wager using their current fiat value.
❓⚽️ ➤ Can you bet anonymously with crypto bookmakers?
Yes. Players can bet on football anonymously using crypto as some sportsbooks use your private keys as your identifier. However, some bookmakers require their players to verify their identity using their original government-issued documents.
❓⚽️ ➤ How long does it take to deposit or withdraw Bitcoin at crypto sportsbooks?
Generally, the process of depositing crypto in your sportsbook only takes 4-6 minutes to complete. However, some casinos delay the withdrawal process, but players can still expect the funds to reflect in their wallets within 3 days.
❓⚽️ ➤ Do Bitcoin betting sites guarantee fair gaming?
Every trustworthy Bitcoin betting on football site must promote fair gaming to give their customers equal chances of winning. Additionally, there are minimal chances of cheating when betting on football using Bitcoin.