With the growing adoption of Bitcoin and cryptocurrency has come the introduction to many new Bitcoin Sportsbooks. As more and more people are getting comfortable with crypto, they are starting to ask how do crypto betting sites work? We are here to explain.
A crypto betting site is a website that allows you to bet on sports using the cryptocurrency Bitcoin. There are many different types of Bitcoin sportsbooks, but the most popular ones allow you to bet on traditional sports like football, basketball, baseball, and hockey. Some Bitcoin sportsbooks also allow you to bet on more exotic sports such as e-sports and motorsports.
How Do Bitcoin Sports Betting Sites Work?
The way a Bitcoin sportsbook work is very similar to a traditional online sportsbook. You will first need to create an account with the sportsbook and deposit some Bitcoin or other crypto into your account. Once you have done this, you will be able to browse the different odds for different sporting events and place bets on the ones that you think will result in a win.
The main difference between a Bitcoin sportsbook and a traditional online sportsbook is the way that the bets are settled. With a traditional sportsbook, if you bet on the favorite and they win, you will receive your winnings in cash. However, with a Bitcoin or Crypto sportsbook if you bet on the favorite and they win, you will receive your winnings in Bitcoin or the cryptocurrency you place the bet with.
Best Crypto Betting Sites
|Stake is a fairly new Bitcoin betting
platform that has been
growing in popularity very quickly.
They have some of the
best odds in the business,
and they make depositing and
withdrawing your crypto really simple. They offer sports betting and they have an online casino.
|Click Here to Bet with Stake
|One of the best Bitcoin Betting Sites right now is undoubtedly Cloudbet. They allow you to place bets on everything from Baseball to combat sports and everything is super easy to use. You can literally create an account in a few minutes. They also allow you to buy, deposit and bet with many other cryptocurrencies, so this is a good account to have.
|Click Here to Bet with Cloudbet
|Duelbits.com is a bitcoin betting site and crypto casino that
allows you to bet on every sport,
just like with your standard sportsbook. You can bet on NBA, NHL, NFL, UFC, Boxing and more, and all in crypto. They accept Bitcoin, Ethereum and a bunch of other cryptocurrencies for payments and withdrawals which makes everything very convenient.
|Click Here to Bet with Duelbits
|Thunderpick has quietly become a
major Bitcoin and Crypto betting site, and there is a good reason for that; they offer a wide range of markets on sports. They also make it super simple to deposit and withdraw crypto on their platform. You can choose from Bitcoin, Ethereum, Litecoin, Tether, XRP, BitcoinCash and more as a deposit or withdrawal method.
|Click Here to Bet with Thunderpick
|If you’re looking for a bitcoin betting
site that offers more than just
sports betting, then BC.game is a
great place to start. This site offers a
generous bonus on deposits and
accepts just about every major cryptocurrency.
|Click Here to Bet with BC.Game
|MyBookie.ag is an awesome Bitcoin
betting site and general sportsbook.
They still allow standard depositing methods like credit card or wire transfer and currently only allow
Bitcoin as cryptocurrency for deposits. They will likely expand to other cryptocurrencies in the future,
but currently offer only Bitcoin
and other standard deposit methods.
|Click Here to Bet with MyBookie
Advantages Of Crypto Betting Sites
The main advantage of using a Bitcoin sportsbook is that it allows you to bet on sports from anywhere in the world. Traditional sportsbooks are only available in certain countries, but with a Bitcoin sportsbook, you can bet on sporting events taking place internationally. This means that you can bet on your favorite team no matter where they are playing.
Another advantage of using a Bitcoin sportsbook is that it offers better odds than traditional sportsbooks. Because the sportsbook does not have to exchange the currency for you, they can offer better odds to their customers. This means that you can get better value for your money when you bet with Bitcoin or crypto.
When you visit a crypto betting site, you will need to create an account. This is easy to do and only requires your email address. Once you have created an account, you will need to deposit funds into it. You can do this using any major cryptocurrency, such as Bitcoin, Ethereum, or Litecoin. Once your funds are in your account, you can start betting on the site.
Choose Your Sport and Type of Bet
The first thing you need to do is choose what you want to bet on. There are a variety of different options available, so you should be able to find something that interests you. You can bet on sports like Basketball or Football, political events, or even the weather. Once you have chosen what you want to bet on, you will need to choose a team or individual to place your bet on.
Decide How Much You Want To Wager
After you have chosen who or what you want to bet on, you will need to decide how much money you want to wager. The amount of money you can wager depends on the particular site you are using. Once you have chosen the amount of money you want to wager, you will need to click on the “Place Bet” button.
Make Your Deposit
After you have entered your payment information and chosen how you would like to pay for your bet, you will need to click on the “Confirm” button. This will take you to a page where you can review the terms and conditions of the bet. Make sure you understand everything before you agree to it. Once you have reviewed the terms and conditions, you will need to click on the “Place Bet” button again. This will take you to the page where you can enter your cryptocurrency wallet information.
Entering your cryptocurrency wallet information is easy. All you need to do is find the “Receive” tab on the main menu. Click on it and then enter your wallet address. Once you have entered your wallet address, you will need to click on the “Send” button. This will take you to the page where you can review the transaction details. Make sure you understand everything before you confirm the transaction.
After you have reviewed the transaction details and confirmed the transaction, you will need to wait for the funds to arrive in your account. Depending on the site, this can take a few minutes or up to an hour. Once the funds have arrived, you can start gambling on the site.
Withdrawing Your Winnings
If you want to withdraw your winnings, you will need to click on the “Withdraw” tab on the main menu. From there, you will need to enter your wallet address and the amount of money you want to withdraw. Once you have entered that information, you will need to click on the “Withdraw” button. This will take you to a page where you can review the transaction details. Make sure you understand everything before you confirm the transaction.
Gambling on a crypto betting site is easy and fun. It’s definitely important to know how crypto betting sites works before getting started, but once you understand, it makes sports more interesting. All you need to do is choose what you want to bet on and then place your bet. You can win or lose money, but either way, you will have a lot of fun. Just make sure you understand everything before you agree to bet and that you are comfortable with the risks involved.