Bitcoin betting sites
As online sportsbooks have basically become a staple in the world of sports betting, there’s been a shift towards something bigger and betters. Crypto betting sites have been emerging all over America and many people are interested in joining them. At the very top are bitcoin betting sites which use the digital coin as the primary currency on their platforms.
As one of the most popular altcoins in the world, it’s only natural that the best sports betting sites have this cryptocurrency available for their customers. But, are there really any benefits to choosing a bitcoin sportsbook over a normal one that uses regular money?
In this article, we’ll take a look at what a bitcoin sports betting site is and how it works. We’ll also guide you on how to sign up for one and make a bitcoin deposit. Another thing we’ll also cover is the different American sports you can bet on using bitcoin and give you a brief history on how bitcoin betting sites have emerged over the years.
Are Bitcoin betting sites legal in the US?
Yes, Bitcoin betting sites are legal in the US. But, Federal laws around betting in the US state that it’s up to the state to legalize gambling activities in their jurisdiction. That being said if sports betting is legal in your state, then bitcoin betting sites are also legal. However, before you get excited about joining the first crypto sportsbook you come across, you need to be aware of whether they are allowed to operate in your state. Each state has its own laws regarding online gambling sites and betting.
For example, they have different legal ages your can bet, different tax requirements, different geolocation requirements, and so on. That’s why, when you sign up for a new US sportsbook, you may be asked to provide proof of your age and where you’re physically located. This is a requirement at both bitcoin betting sites and normal currency accounts.
How to deposit on a Bitcoin betting site
To deposit on a Bitcoin betting site, you just been to follow the steps below:
The good news is that the process of signing up with the best bitcoin betting sites is not complicated at all. In fact, you basically go through the same registration process as you would with a normal sports betting site.
To get started, you need to go online and search for bitcoin betting sites in your state. Based on the results you get, take the time to check if they are registered to operate legally in your state. Also, look out for bonuses such as welcome offers for new sign-ups.
Once you’ve identified your preferred bitcoin sportsbook, scroll around it to see what type of features they have. For example, do they cover your preferred betting markets and what betting types are available? Also, check to see if it’s a purely bitcoin sportsbook, or if it also takes other cryptocurrencies and traditional money. At the end of the day, you don’t want the excitement of finding a bitcoin sportsbook to distract you from the basic necessities of an enjoyable online sports betting experience. Crypto sportsbooks need to be held at the same or even higher level of service as a normal sports betting site.
Benefits and drawbacks of Bitcoin betting sites
It’s clear from the above that there are many advantages to playing at a bitcoin sportsbook because it’s an exciting new way of transacting online that’s secure and private. Many people now have the opportunity to combine their love for sports, betting, and emerging technologies. That being said, are there any downsides you need to consider when it comes to a sportsbook that takes bitcoin or cryptocurrencies? Let’s weigh the pros and cons of signing up with a bitcoin sports betting site.
Pros of bitcoin betting sites
Cons of bitcoin betting sites
Top sports to bet on with Bitcoin
The sports scene in America is big and some of the best crypto sports betting sites even sponsor a few teams. With each new crypto sportsbook comes a wider range of sports markets in that you can place bets on. Having a lot of options is great for punters looking to check out new sports tournaments and betting types. Each sport requires a different approach when you bet on it. We explore this below:
Alternative cryptocurrency betting sites
If you’re not convinced that a bitcoin crypto betting site is right for you, fortunately, there are other altcoins you could use. There are many stablecoins you could consider such as Cardano, Tron, Ripple, and many more. Here are the top cryptocurrencies perfect for online sports betting.
There are many more exciting coins you could use at online sports betting sites. The best ones will give you a wide variety of cryptocurrencies to choose from. It’s up to you to decide which ones best suit your online betting needs.
A timeline of Bitcoin betting sites
The growth of bitcoin betting sites has been driven by the need to solve transactional challenges. Since there are many restrictions when it comes to moving large sums of money, along with high fees, online sportsbooks have turned to cryptocurrencies for help. Punters, as well, welcome these alternative payment methods that make the online betting experience fast and secure.
Most experts believe the future of bitcoin sports betting is very bright. Some estimate that up to 60% of all crypto trade will go via casinos and online sportsbooks.