Choosing a BTC bookmaker — 6 factors to consider
When choosing the best crypto betting sites, it is worth considering your location, the finances you have, and other reasons. It follows from this that the best crypto betting sites from the top will be the best for you.
For profitable bets on bitcoins, or even the possibility of betting, it is necessary to take into account all of the above factors.
Before you bet on cryptocurrency, it's worth doing a little personal research. Determine the goal of your bet, select several directions, write them down and decide based on the goal.
Which factor is more important to you and why?
Before you start betting, take the time to analyze the market, and for the best success, register on several of the best betting sites.
Explore these sites, choose one or two, two sites will allow you to switch between bitcoin bets that are comfortable or profitable for you.
1. Countries with limited access
At the moment, not every country has the opportunity for sports betting with crypto.
Unfortunately, not every website in the USA gives you the opportunity to bet in bitcoins. One of the exceptions is
Most of the other sites where it is possible to use bitcoin, for example Stake, are aimed more at the UK and Europe, where Stake has legal rights to work.
So check it out first, and then go have fun!
2. Reputation and trust
Another important point when choosing the best bitcoin betting site is its reputation. Carefully analyze the reviews and reputation of the site.
Pay attention to the license of the site, or even to its presence. For example, Sportsbet and Stake have a full license from Curacao, the country is famous for its loyalty to crypto gambling.
The reputation of the site directly affects your profit and the comfort of bitcoin betting. With legal similarity, their main difference will be loyalty and respect for the client.
Pay attention when studying reputation, to the past public disputes of the site and how they solved them.
The attitude of the site to customers is very important, you can analyze forums where the same customers as you express their unbiased opinion.
Naturally, we have already studied the ratings of the best betting sites that are presented in the top, this makes it easier for you to choose. It's your decision whether to check or not yourself.
Another point worth paying attention to is the cooperation of a crypto sports betting site with third-party organizations, such as ADR (alternative dispute resolution).
Cooperation with the food service, shows the site from the best and customer-oriented side.
For example, Stake works with the crypto-gambling fund, it is a third-party regulator that protects your rights as a user, confidentiality and honesty.
And in addition, it is worth saying that the working time of the site is also worth considering.
Not many crypto betting sites can boast of longevity of work, and if they can, then they can already be considered the best. After all, the working time perfectly shows that the site team treats its real customers well, and those, in turn, constantly return to it.
BetOnline, for example, has been around since 2004. That's two decades of building a reputation.
No one from my list except BetOnline can boast of such experience, the rest of the best betting sites have been working since 2014. This gives you a head start in a whole decade of establishing work and creating a reputation.
In an attempt to win customers, despite the youth,the best betting sites make a bias in advertising, promotions, and attitude to customers.
3. Available sports, lines and odds
Bitcoin betting sites differ not only in age, rating and attitude to the client, but also in sports betting with crypto.
But practice says that at the moment the opportunity to lie something exclusive is small, because sites conduct analytics on what customers want to bet on cryptocurrency.
The main difference in crypto betting platforms is the depth of the lines and the size of the coefficients.
4. Anonymous Sports betting with Crypto
Nowadays anonymity is a nice addition in sports betting. This is what distinguishes crypto sports betting sites from many other betting opportunities.
Withdrawal of winnings and replenishment of the balance in cryptocurrency will allow you to remain anonymous from the reporting of crypto betting platforms.
Anonymity will allow you to keep BTC bets secret from those who can forbid you to bet. You also have the opportunity to control the disclosure of your personal data and identity, which will ensure your financial independence.
5. Speed and conditions of payments and withdrawals
After choosing the best platform for you, check out another important factor, this is the withdrawal of funds. After all, the terms and speed of payments directly affect your financial situation.
A site with ultra-fast withdrawal of funds will allow you not to lose your winnings on the constantly jumping cryptocurrency, but to quickly withdraw it and transfer it to the asset you need.
But not all sites can allow unlimited withdrawal of funds, many sports betting sites in cryptocurrency have limits on the amounts withdrawn, for various periods of time, week, month or year.
If the bookmaker you have chosen is guided by this very principle of operation, you don't have to worry, and with a large win, withdraw the maximum weekly amount, so don't withdraw the entire winnings.
Do not forget that the cryptocurrency does not have a stable value and often fluctuates, remember this with partial withdrawal of funds, because after a while your unspent winnings can both increase and decrease.
6. VIP programs and Bonuses
Many sites make for their regular visitors, so let's say VIP clients, and each site has its own VIP program, pay attention to this as well,
such programs can provide you with exclusive withdrawal conditions and bets.
If you are new to sports betting with crypto and just want to try your hand, then 1xBit offers some of the best welcome bonuses.
In addition, if you prefer to use something besides BTC or ETH for betting in cryptocurrency, they also accept 25 other cryptocurrencies, including BTC, ETH, LTC USDT, PAX, OMG, LINK and many others.
How to Bet with Bitcoin
There are 4 Steps to Start Betting with Bitcoin:
1. Choose a site considering your requirements, and which accepts Bitcoin bets.
2. Choose the best cryptocurrency exchange that is best loyal to gambling.
3.Purchase Bitcoin or transfer it to the best bookmaker available.
4. The last step for you is to enjoy betting in bitcoins.
In some cases, the third point can be excluded, since many sites provide services for buying cryptocurrencies directly on their site.
If your chosen site does not provide Buy Crypto services, we have selected the best cryptocurrency exchanges for you. When choosing them, we proceeded not only from the rating, but also from their loyalty to crypto gambling, unlike many other exchanges.
The most difficult thing in cryptocurrency betting is not the bet itself and the withdrawal of funds, but the storage, sending and receiving of them.
Therefore, we have created several useful articles for you:
- Where to buy Bitcoin
- How to make money on Bitcoin
- The best cryptocurrencies for investment
The Recent Growth of Crypto Sports Betting
The growth in demand for sports betting in BTC over the past 5 years has caused the expansion of the general crypto sports betting industry and directly an increase in the number of Bitcoin sites themselves.
To answer the above question, we advise you to familiarize yourself with statistics and recently published documentation related to the crypto sports betting industry in general.
Examining these data, we can conclude that there is a high potential of sites for betting on bitcoin.
How much will Bitcoin rates rise?
When analyzing data, you should not exclude the possibility of doubling the data.
Sports betting is not for nothing that such a currency as bitcoin is chosen in many cases. This cryptocurrency has been used on a variety of platforms for a long time and recommends itself from the best side.
Pros and Cons of Bitcoin Betting Compared to Traditional Betting
Progress does not stand still, as well as betting bitcoin sites.Crypto betting platforms are actively displacing traditional ones from the market, because it is difficult to compete with their offers. But we must not forget about their shortcomings.
Advantages of Bitcoin Betting Sites
Bitcoin betting sites have many advantages similar to the cryptocurrency itself: financial confidentiality, low fees, the ability to quickly transfer funds, personal anonymity and many other advantages.
Let's take a look at these advantages.
Advantage 1: Financial confidentiality.
Some of the best bitcoin betting sites, such as BetOnline and 1xBit, when following the rules will allow you to remain completely anonymous if you make a payment in cryptocurrency
But some sites will allow you to remain anonymous only if you make payments in bitcoins and cryptocurrencies to the site.
Not everyone wants publicity about their rates from banks and rating agencies, and even people close to you. Which allows you to safely place bets.
Advantage 2: low fees
A huge disadvantage of traditional bookmakers is their inflated commissions for depositing and withdrawing funds, or even for the bet itself.
Therefore, in comparison, online crypto betting sites have a disproportionate advantage over traditional ones.
Transferring bitcoins and other cryptocurrencies saves a lot of money and time compared to other options such as SWIFT, ACH and other methods.
Recently, a study was conducted that clearly shows that commissions can differ by up to 90%.
Advantage 3: Play from anywhere
Not many countries can boast of loyalty to gambling, which can cause difficulties if you want to start sports betting with crypto.
Strict control obliges bookmakers to have a license for each country, to send out dishonesty, to pay high taxes, etc.
Accepting a player from a country for which they do not have a license will necessarily lead to the application of penalties to the bookmaker's office. This fact may cause the exclusion of a player, a ban on betting, or even the bankruptcy of the office itself.
Most likely, after tracking which country the payment came from, the site will simply block your account in order to avoid penalties.
But it is online sites that allow you to make payments in cryptocurrency that will provide you with the opportunity to make a bet from anywhere in the world.
This allows some of them, such as BetOnline and Betcoin, to work anonymously and accept players from all over the world.
For more confidence, it is advised to use a VPN, it depends on your location.
It is important to familiarize yourself with the policy of the state in advance before depositing funds. After all, if yours is on the list of restricted countries, a bookmaker's office may freeze your account and you may lose your funds.
Advantage 4: Bigger and better bonuses
Online crypto betting sites are famous for their promotions, bonuses and VIP programs. Why?
The answer is simple, making payments and transfers in cryptocurrency saves sites money, which allows you to expand your bonus program.
Disadvantages of Bitcoin Betting Sites
Each new one has not only advantages, but also disadvantages.
It is not necessary to exclude existing risks when betting on online BTC betting sites.
Get acquainted with them, and decide whether it is acceptable for you.
Disadvantage 1: Lack of regulation
Almost all popular online crypto betting sites are licensed and comply with KYC/AML rules.
The reason for this is the circulation of fiat currency. Funds, when depositing or withdrawing money from an account, pass through many government agencies, such as banks and other financial institutions.
That is why the work of an unlicensed site will quickly fall under the control of the authorities.
The work of the site exclusively with cryptocurrency will allow work without a license, but the fact that this may change in the future is not excluded.
The bookmaker's office's lack of a license allows it to keep its activities secret from the government.
Based on this, the risk of getting into an unscrupulous or even fraudulent bookmaker's office increases at times.
As a result, we recommend choosing a licensed website.
But if you still prefer to play in an unlicensed bookmaker, pay special attention to the analysis of its reputation.
Drawback 2: No chargebacks
Traditional bookmakers use credit cards or other traditional fiat methods when accepting payments.That is why the possibility of a refund is part of the system.
If you are on a fraudulent website, and you feel that you can lose your money, there is a possibility to return them when contacting your bank, from which the transfer is made.
When making a transfer and cryptocurrency betting, there is no possibility of a refund, because there may not be third parties or a financial system.
As a result, we can say that before sending your cryptocurrency, take a responsible attitude to the choice of a crypto betting platform.
Drawback #3: Crypto price volatility
Bitcoin has a reputation for being unstable.
When betting in bitcoin and winning in it, do not exclude its constant jumps. As a result, even after a winning bet, you may lose your funds.
Unfortunately, due to the instability of the currency, this risk cannot be avoided.But it is also impossible to exclude the possibility of multiplying your bet several times.
Sports betting with Bitcoin is like multiplied gambling or crypto gambling.
Perhaps in a decade the price of bitcoin will become more stable, but now it is not.
Before cryptocurrency betting, decide on the amount that multiplication is enough for you, but losing will not harm your financial situation. Only based on this, place a bet.
What is the best Bitcoin betting company you have?
Our article incorporates all the necessary data and statistics in order to choose crypto betting platforms and start sports betting with crypto.
You have learned about all the advantages and disadvantages of crypto gambling, the basic information you need to know when choosing the best crypto betting sites. These factors have an impact on convenient and productive play.
It's time to make your first Bitcoin bet! It's time to make your bet and earn money wisely!