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Crypto Betting

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Cryptocurrencies are the latest craze among people looking to the future and looking for alternatives to traditional ways of doing things. This has, thus, given rise to crypto-betting sites. They have been around for a number of years, and more and more people are starting to trust them. But, do they work the same as regular sportsbooks?

In this article, we’ll take a look at what crypto sports betting sites are and how they work. We’ll also not only show you how to sign up but also how to make a crypto deposit on the site. Then, we’ll give you the answers to some of the most commonly asked questions about the best crypto betting sites.

About Crypto betting sites

As interest in crypto continues to grow worldwide, many online sports betting sites are adding this payment type to their cashier section. It opens up many options for people looking to elevate their online betting experience. At the same time, it also makes the experience a whole lot safer and more private for customers. There are many benefits to choosing crypto sports betting apps in the USA that accept all the biggest altcoins such as Bitcoin, Ethereum, Litecoin, and more. The sportsbook will make sure that you’re given all the guidance and support you need to make crypto transactions in your preferred currency successfully.

A good customer service team will be available to assist you if you come across any problems while placing bets with crypto. The good news, though, is that the best crypto-betting sites operate just like a normal sportsbook. They have a wide range of betting markets and give you odds that are as attractive as possible. Promotions and bonuses are also available for customers. Another thing to note is that some popular sportsbooks are purely crypt, but others will take both cryptocurrencies and traditional money. Do your research on the best online betting site to see if they give any incentives for using crypto over regular money.

Best crypto betting sites

Over the years, many first-class crypto betting sites have emerged. Each has something unique to offer, but they have all made the effort to make your crypto-betting experience as seamless as possible. Below, we’ll take a look at some top crypto sportsbooks worth giving a try.

  • SportingBet – For a 100% secure way to reliably deposit and place bets online, choose SportingBet. This crypto-first casino also accepts traditional payment methods such s Visa and EFTs, but they also accept transactions in 17 different cryptocurrencies. The star of the site is Bitcoin and there are a number of resources to help you learn what it is and how to bet using it on SportingBet. This site is great if you want – Quick live chat help, many options for exciting bonuses and promotions, a personalized view of payment limits based on your location, and 25 deposit options, including 17 cryptocurrencies.
  • Bovada – Bet on the top games in the world with Bovado. They have over 30,000 daily markets and promotional offers for NFL and NBA games. Their Live Betting feature is one of the most exciting around. Customers have the chance to change their bets as the game’s odds change during the match. A good tip would be to download their app and use that to quickly place bets during the game and keep up with the sporting action. Other reasons to bet with Bovada crypto sports betting sites are – Seamless mobile betting, hands-on customer service, and superfast crypto payouts.
  • MyBookie – There are a lot of great things going on for MyBookie customers. The crypto sportsbook puts its customers at the center of everything they do. That’s why they give personable services to registered users looking to wager with cryptocurrencies on American betting markets. There are regular software updates for the site and the mobile app to always give the very best in security and advanced features. With a MyBookie account, you’ll also get quick deposits and withdrawals, great promotions that keep you coming back for more, and a user-friendly site interface
  • BetUS – When you use crypto to bet on BetUS, you’re guaranteed a fast and efficient process for your deposits and withdrawals. One of the best features on this site is the number of available prop bets. They include options such as the highest-scoring half, first touchdown, longest field goal in the game, and so on. Other reasons to join BetUS are 24/7 customer support, diverse betting options, including horse racing and esports betting, and fast withdrawals within 48 hours

How to sign up for a Crypto betting site

Signing up for a crypto betting site is basically the same as signing up for a normal sportsbook. You go through the same steps, with the only difference being that you’ll just need to make a deposit with a cryptocurrency. Another thing to note is that some crypto sports betting sites might allow you to sign up via a wallet such as MetaMask if you have one. It’ll automatically link your crypto wallet to the sportsbook account, making it a lot easier for you to deposit and withdraw.

Let’s take a look at the step-by-step process of registering with a cryptocurrency sportsbook.

  1. Find a betting site that accepts Crypto – With a simple Google search, you’ll find hundreds of online sportsbooks that accept crypto payments. However, you’ll need to do a bit of research to sift out the legit sports betting sites that are allowed to operate in your state.
  2. Click ‘Join Now’ or ‘Sign Up’ – Once you’ve picked a sportsbook to your liking, it’s time to start the registration process. As mentioned earlier, the steps taken to sign up for a crypto sportsbook are basically the same as joining a regular one. The “join” or “register” button is usually found in the top right corner of the site or the mobile app. Click on that and you’ll be taken to the sign up page with a short form for you to fill out.
  3. Enter your details and follow the instructions – Follow the form to enter your details. Expect to provide a unique username for your new account, your email address, and a secure password. You might also be asked to confirm your identity and age by providing a copy of a government-issued ID such as a Driver’s License or a Passport. In addition, you might also be asked to prove your geographical location through your phone’s geolocator in order to prove that you’re physically located in a state where the sportsbook is allowed to operate. Some crypto sportsbooks may give you the option to sign up through your Facebook or your Google account. You’ll then simply use those login details to log into your sportsbook account going forward.
  4. Use a bonus code if you have one – If you’re lucky enough to have a promo code for a welcome bonus, you can use it if needed. The sportsbook is likely to have a section on the registration form for a promo code. Enter the one you have, and if it’s valid, your bonus will be available. If the promo code doesn’t work, double-check that you copied it correctly or that it hasn’t yet expired. The customer service team can also help you further investigate what may be wrong with the promo code that’s not working.
  5. Deposit with your cryptocurrency – With your account created, it’s time to make a deposit. A good crypto betting site will make sure that this process is secure and easy for you to follow. Head to your account’s cashier section to get started.

How to deposit on a Crypto betting site

Getting started with making a deposit at crypto betting sites is quick and easy. Fortunately, most crypto sportsbooks have more or less the same payment method, so you won’t have to figure out different ways of doing it based on the site you visit. Below, we’ll give you a step-by-step guide on how to deposit in crypto.

  1. Login to the Crypto betting site.
  2. Go to the cashier section.
  3. Choose ‘Deposit’.
  4. Scroll until you find the Cryptocurrency you will be using.
  5. A pop-up will provide your betting account web address.
  6. Open your crypto wallet.
  7. Copy and paste the web address.
  8. Enter the deposit amount.
  9. Click ‘confirm’.
  10. Your betting account will be updated with your deposit almost immediately

It’s that simple. Within a few minutes, your deposited amount will reflect. Remember to watch out for transaction fees. The sportsbook is unlikely to charge you anything, but the crypto exchange might.

Pros and cons of Crypto betting sites

Crytpo sports betting sites have revolutionized the online betting industry. They’ve brought with them some innovative solutions for moving money between the sportsbook and the individual. With many restrictions on traditional online banking, people have found a solution with crypto betting sites.

Pros of crypto betting sites

  • Secure: Crypto sportsbooks use some of the most advanced encryption technology around.
    No bank details: Keep your online betting activities off your bank statements by using cryptocurrency for your transactions.
  • Fast transactions: With the help of blockchain technology, and the elimination of banking institutions in the transfer of money, the transactions made with a crypto sportsbook are very fast.
  • Special bonuses for Crypto users: To encourage more customers to use digital currencies, a crypto casino may offer crypto-exclusive offers. These are promotions only available for those using cryptocurrencies on the site.

Cons of crypto betting sites

  • Not widely accepted: You don’t have a lot of choices when it comes to sportsbooks that accept digital coins. As such, you’re limited to only a few sportsbooks and you might not have access to a wider range of betting markets.
  • Crypto is volatile: Over the years, there’s been clear evidence that the value of cryptocurrencies can rise rapidly and then fall just as quickly. This makes betting with crypto risky and the value of your winnings today won’t be the same tomorrow.

Types of Crypto accepted on betting sites

There are literally thousands of crypto coins in the world. Obviously, some are worth more than others. There are certain “stable” coins that have the most value. These are the most traded because people are hoping to profit quickly from their continued rise.

As a person interested in crypto, it’s important that you know which ones are valuable and can be used to transact online. Some of the most commonly used digital currencies at crypto sportsbooks are:

  • Bitcoin
  • Etherium
  • Dogecoin
  • USD Coin
  • Shiba
  • Polygon
  • Binance Coin
  • Litecoin

There are many more that could be added to this list. But if you’re new to the cryptocurrency world, and especially new to crypto sports betting, then the above list is a good place to start.

FAQ

Are Crypto betting sites safe?

Yes, crypto betting sites are safe. They are one of the most secure options when it comes to online sports betting. However, you need to make sure that the site is licensed, regulated and, thus, legit.

Do I pay tax on Crypto winnings?

Yes, you need to pay taxes on crypto winnings. However, since the value of crypto is always changing, you should contact an expert in taxes on crypto earnings for advice and details on how to go about it.

Do Crypto betting sites only accept some types of Crypto?

Yes, crypto betting sites only accept some types of crypto. Not all cryptocurrencies are accepted at betting sites. Most will give you a list of accepted cryptocurrencies. However, keep in mind that you’re almost guaranteed to find Bitcoin on the list, for example.

Is it legal to bet with crypto in the US?

Yes, it’s legal to bet with crypto in the US. But an important thing to remember is that not all states allow for gambling and betting. So, if your state has legalized online sports betting, then you’re also able to bet with cryptocurrencies.