Your need-to-know guide to crypto sports betting
Crypto sports betting – sounds fun, right? The likes of Bitcoin, Ethereum, and Dogecoin have brought a whole new dimension to the sportsbook gambling arena, ramping up the excitement factor for the savviest of sports bettors.
I’m sure those already clued in on Bitcoin betting will be keen to get to my list of the best crypto sports betting sites, so, by all means, skip ahead if you wish. For everyone else, I’d encourage you to read my essential crypto sports betting guide, where I’ve answered some of the key questions people often ask about this unique branch of online sports betting.
Can you bet on sports with crypto?
As you might have gathered, it’s a definite yes here. Several big-name bookies have begun accepting cryptocurrencies, recognizing that they offer a credible alternative currency option for an untapped group of crypto-curious punters.
Indeed, the popularity of Ethereum betting and similar is such that even smaller sportsbook brands are now opening their books to crypto, particularly the likes of Bitcoin (BTC).
Why use crypto for sports betting?
It’s a reasonable question. After all, it would be just as easy to pull out the plastic and make sportsbook deposits with your debit or credit card.
There are, however, plenty of reasons why it may be worth making the switch to crypto sports betting, as the benefits below demonstrate:
Keen for your weekend’s sportsbook picks to stay off your bank statement? Switching to crypto guarantees total anonymity, which is not only good for financial peace of mind but your online safety and privacy, too.
Rapid deposits and withdrawals
Crypto transactions are a world away from the snail-paced bank transfers of old, so you can move money to and from your chosen sportsbook in a fraction of the time. Fast transaction speed is one of the cornerstone benefits of betting with crypto – have I piqued your interest?
Diverse sports betting markets
Since it’s the most modern, progressive sportsbooks that have been the first to adopt cryptocurrencies like BTC, one of the knock-on benefits of this is the eclectic mix of betting markets they bring to the table. The likes of Stake.com, BC.Game, and Vave (which we’ll get to later) are renowned for their diverse pool of sports, so you’re free to place bets on everything from e-sports to water polo and beyond.
Reduced fees for deposits and withdrawals
Paying surcharges each time you make a sportsbook deposit or withdraw winnings can sting a little. But with crypto, at least, these fees are kept to a minimum. Since crypto transactions are independent of banks, there are very few processing and handling charges, which means reduced fees in the long term. How’s that for a fist-pump feeling?
Watertight transactions and security
Cryptocurrencies often get a bad rep, but did you know that they offer one of the safest ways to make transactions online? That’s all thanks to the blockchain, which keeps your data absolutely watertight. Consider Bitcoin et al the Fort Knox of online betting payments.
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Any potential problems with using crypto betting sites?
In the spirit of balance, it’s only right that I consider the potential pitfalls of crypto sports betting sites. Don’t get me wrong, I’m a big advocate for BTC-funded betting, but there are certain caveats to consider before you fully commit, including:
- Price volatility:
Cryptocurrency prices can swing as fast as Roger Federer’s forearm, so even big-name tokens like Bitcoin and Ethereum are susceptible to sudden and dramatic changes in value. This volatility is capable of knocking serious digits off your overall sportsbook take-home, so is something to consider when choosing the best time to make deposits and withdrawals.
- Legal stuff:
I won’t go too deep into the legalese associated with cryptocurrencies, but suffice it to say that even the biggest currencies continue to face some regulatory challenges. While these are unlikely to have any direct impact on you, the risk is that a sportsbook could choose to drop or block crypto transactions at a moment’s notice, leaving BTC holders a little in the lurch.
- Not accepted everywhere just yet:
While the number of crypto betting sites is definitely on the up, not every online bookmaker has started accepting cryptocurrencies just yet. That means your options may be a tad limited, particularly if you live in a region with tight crypto regulation.
Which crypto is used for sports betting?
Dozens of individual digital tokens fall under the umbrella of “crypto”, so choosing the currency with the best coverage on sports betting sites is important. I’ve profiled some of the big-name crypto tokens you’re likely to find on sportsbook sites below, along with a couple of good-to-know details about each coin.
| Cryptocurrency | AKA | Good to Know |
| Bitcoin | BTC | Bitcoin will be the go-to cryptocurrency for most sportsbook players, and it’s easily the most widely accepted by online bookmakers. Decentralized and highly transferable, BTC is easy to purchase and probably the crypto coin least likely to suffer from legal opposition. |
| Ethereum | ETH | If security is important to you, Ethereum could be a good option. ETH is a smart-contracts-enabled cryptocurrency, which sounds and is very complicated. All you need to know is that Ethereum betting is widely available and a breeze to get started with. |
| Litecoin | LTC | Litecoin is super similar to Bitcoin, so if you’re looking for a well-established altcoin with some tried-and-tested credentials, it’s worth considering. Litecoin betting isn’t currently as popular as its ETH and BTC counterparts, but watch this space. |
| Dogecoin | DOGE | Interestingly enough, Dogecoin was created as a bit of a joke among friends; little did they know that they were developing one of the world’s most popular peer-to-peer digital currencies. You’ll find it on some big-name crypto sportsbooks. |
| Tether | USDT | As its name alludes to, Tether is tied to the US dollar, which should offer some peace of mind to prospective buyers. A stablecoin, USDT now features on the accepted payment method lists of a handful of sportsbook platforms. |
| Binance | BNB | BNB is the in-house digital token of Binance, the world’s largest cryptocurrency exchange. The coin was originally created for trading purposes only but has since been adopted by a good range of online retailers, including sports betting brands. |
| Ripple | XRP | Perfect if you’re looking to access sports betting sites in different countries; Ripple XRP is revered for its cross-border transaction speeds, so it may be a good option for you depending on where you live. |
Play at the best crypto sports betting sites
By now you should be fully up to speed with crypto-enabled bookies, along with the typical digital tokens they accept and the benefits (and pitfalls) they offer. So, armed with this new-found knowledge, it’s time to jump in and take a closer look at some of the best crypto betting sites out there.
I’ve been busy test-driving the leading sportsbooks that accept cryptocurrencies, so have compiled a shortlist of three sports betting sites that I think are well worth your time. These online bookmakers offer the ideal combination of competitive odds, diverse betting markets, crypto betting bonuses, and plentiful currency options, so I’d encourage you to click on the banners on this page to give them a try.
Tons of crypto betting sites to try
A couple of years ago, it would scarcely have occurred to anyone that cryptocurrencies could be used for stress-free sports betting. But I promise, once you’ve made the switch, you’ll be asking yourself, why didn’t I do this sooner?
Not only do crypto sports betting sites deliver all the fun and thrills of a regular online bookmaker, but they also offer lots of benefits besides, including enhanced privacy and anonymity, faster transactions, lower fees, and watertight security. So, if you’ve recently acquired BTC, ETH, DOGE, or similar, I’d recommend giving these next-gen sportsbooks a shot.
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Crypto sports betting FAQ
Is it legal to use crypto to place sports bets? ??
That depends on a couple of factors, including where you live and what currency you’re using. So long as crypto is legal in your region and you’re betting on a legitimate, trustworthy site, you should be good to go.
How fast do sportsbook withdrawals take using crypto? ?
Although withdrawal times vary from bookie to bookie, cryptocurrencies are known to offer some of the fastest payout speeds of any like-for-like currency, with winnings normally with you in hours rather than days.
Which cryptocurrency should I use when placing sports bets? ??
There are plenty of cryptocurrencies to choose from, including Bitcoin, Ethereum, Dogecoin, Litecoin, and many more. Compare current values and do plenty of research to find the digital currency that works best for you.
