Bitcoin Betting – An introduction to bitcoin sportsbetting

Bitcoin Betting – An introduction to bitcoin sportsbetting

The most popular and widely spread online cryptocurrency – Bitcoins, has entered the online gaming and revolutionized the way players and bettors alike interact with their favorite activity.

Bitcoins have been adopted all major categories and sub categories in the online gaming business, including online casinos, bingo and poker sites, as well as the topic of this article – sports betting sites.

One amongst the plethora of reasons for the popularity of Bitcoin betting is the simplicity with which bettors can instantly participate by placing bets on upcoming or ongoing sports matches. The rest will be discussed in the text bellow so stick around and let’s get it started.

Getting Started with Bitcoin Betting

Bitcoin betting requires a valid Bitcoin wallet address which will be used in two ways:

  • Using your stash of online cryptocurrency for placing bets at a Bitcoin betting site, and
  • Retrieving funds (winnings)

There are many Bitcoin wallet alternatives that can be used to fund your online Bitcoin betting experience. Most of them require little in the way of personal information, making the use of Bitcoins both safe and secure.

Once you have acquired a valid Bitcoin wallet address, you can proceed to finding a suitable place where you can track your favorite sport and place bets accordingly to your preference.

Choosing the Best Bitcoin Betting Site

Apropos with the rise of Bitcoins’ popularity, the number of betting sites that support the cryptocurrency have been in steady incline. It can be quite a challenge to sift through them all and find the one you like so following these short but simple steps can save you a lot of time and energy:

  • Avoid obscure and unknown sites – focus on the more popular and respectable brands
  • More betting options always provide better incentive at winning
  • In-live betting for the thrill seekers
  • Instant payouts
  • Review our list of top rated sportsbooks

Types of Bets and Betting Odds

Once you have found the Bitcoin betting site that matches your personal preference, it is time to look at the betting options available. The most popular option is placing parlay bets – a selection of matches / games with different bet requirements.

There are several variations of parlays including true parlays, fixed-odds parlays and ready-made parlays. Finding a site that supports most of them is a wise decision in the long run, since you will have more options to tune your betting style.

Another thing to consider is the betting odds offered by the Bitcoin betting site. These can differ widely between online Bitcoin establishments, so make sure to compare their values to determine the one that offers the best ratio per match / game.

Selection of Sports

Like most online sports betting sites, the selection of online Bitcoin establishments offer similar selection of matches from various sports, including:

The selection often extends to include more “unique” events such as e-sports and global events like the World Cup, etc.

Rewards and Bonuses

In order to boost bettors’ interest and their continuous presence on the site, many Bitcoin betting establishments tend to offer bonuses and loyalty rewards. These can take the form of an initial deposit bonus – i.e. crediting the bettor’s account with an initial sum, or a monthly bonus for participation.

VIP programs aren’t uncommon as well, with sums going up to 10 BTC a month for the most dedicated bettors.

Payouts and Security

The strongest and most compelling reason for using Bitcoins for bets online is the instantaneous payouts offered by the majority of betting sites. Simply providing the accurate Bitcoin wallet address is enough for the funds to arrive instantly once the matches have concluded.

Thanks to the anonymous nature of Bitcoins, you won’t need to worry about your personal information becoming compromised. All you ever use is the digital code that is tied to your online Bitcoin wallet.

Conclusion

Online betting has gained a strong new market with the introduction of Bitcoins. They’ve brought new things to the table with instantaneous payouts, anonymity and simplicity. While there’s still a lack of additional bonuses and promotions, the offer and types of bets is continuing to grow and it is more than apparent that Bitcoin betting is here to stay.