So you already understand what Bitcoin is, where you can buy it and how you can store it. Now maybe you want to have a little flutter? Well you’re in luck with our Bitcoin betting guide.
The rapid rise in popularity of cryptocurrencies led by Bitcoin has disrupted many industries already. Sports betting and online casinos are just two examples. Fast, free payments, fairer games and improved anonymity are just some of the drivers behind Bitcoin betting.
The upside
Here are a few reasons why betting with Bitcoin is becoming increasingly popular:
- Ease of use – deposits and withdrawals are normally fast and free.
- Deposit bonuses – most bookmakers will offer incentives to sign up with them.
- Privacy – you can send Bitcoins without providing personal information.
- Freedom – most bookmakers will accept Bitcoin deposits from players right around the world.
- Speculation – by holding crypto rather than fiat, gamblers can still enjoy gains should Bitcoin’s price rise.
- Fairness – rather than relying on the honesty of a bookmaker, blockchain can host provably fair casino games.
The downside
So there are obvious advantages, but just make sure you are aware of:
- Fluctuation – BTC can go down as well as up, so understand that you may win Bitcoin yet lose some of the dollar value of your deposit.
- Trust – crypto is about avoiding counterparty risk, but when you’re betting with Bitcoin you’re relying on a trustworthy and solvent bookmaker.
- Legal – betting is meant to be fun, but just make sure you’re not breaking any local laws.
Best bookies
Here’s a selection of the best bitcoin betting sites:
Cloudbet
Big bonus of 100% on your first deposit, decent odds and a nice loyalty program.
Nitrogen
Excellent odds on a huge number of markets.
Betcoin
Offers good odds and will take a decent bet on most markets.
mBit
Good bonuses, betting limits and range of markets.
** Please note the Terms and Conditions of each bookmaker particularly for bonus eligibility.
