Want to learn more about crypto betting? Here we’ll not only provide you with everything you need to know to understand betting with cryptocurrencies, but we'll also be showcasing the finest crypto betting sites out there.
Do you know all the betting sites Payment methods?
- What Is Crypto Betting?
- Best Crypto Betting Sites
- Best Crypto Betting Sites – Top 8 Ranked
- A Closer Look at Our Best Crypto Betting Sites
- What Do We Look For in the Best Crypto Betting Sites?
- Types of Cryptos Available for Betting
- Benefits of Crypto Betting
- How To Bet With Cryptocurrencies
- Crypto Betting FAQs
- ThePuntersPage Final Say
What Is Crypto Betting?
While the technical side of cryptocurrencies may be complicated, what crypto sports betting itself is remains remarkably simple. To understand it, it’s important to first wrap your head around cryptocurrencies themselves.
A cryptocurrency is a kind of virtual currency, which is made safe through cryptography, hence its name. They are considered safe and anonymous, and don’t utilise a central regulatory authority – making them independent from any government.
Their popularity in 2022 is believed to be just below 4%, meaning there are hundreds of millions of cryptocurrency users are out there. It is no surprise then that the number of betting sites using cryptocurrencies is also rapidly increasing.
When it comes to laws, the question of cryptocurrency legality is a complicated one, and one which depends on both the currency and jurisdiction.
With that in mind, betting with crypto is exactly what it sounds like, it is betting using these cryptocurrencies, just as you would with fiat currencies.
And that’s all you really need to know to understand the basics of cryptocurrency!
T&Cs APPLY, 18+ ONLY
T&Cs APPLY, 18+ ONLY
T&Cs APPLY, 18+ ONLY
Full T&Cs apply. BeGambleAware.org #ad
T&Cs APPLY, 18+ ONLY
T&Cs APPLY, 18+ ONLY
18+ Minimum deposit of £10 using deposit code 30F - A qualifying bet is a ‘real money’ stake of at least £10 placed on any sports market - Minimum odds of 1/2 (1.5) - Free bets credited upon qualifying bet settlement and expire after 7 days - Free bet stakes not included in returns - Casino Bonus must be claimed within 7 days. To withdraw bonus/related wins, wager bonus amount x40 within 14 days. Wagering requirements vary by game. Deposit methods, Withdrawal restrictions and Full T&Cs apply. BeGambleAware.org #ad
T&Cs APPLY, 18+ ONLY
New players only. Min £10 qualifying bets, stake not returned. Free bet - one-time stake of £30, min odds 1.5 stake not returned. 1X wager the winnings. Wager from real balance first. Wager calculated on bonus bets only. Max conversion: £200. Valid for 7 Days from issue. Withdrawal requests volds all active/pending bonuses. Excluded Skrill deposits. Full Terms apply. BeGambleAware.org #ad
Best Crypto Betting Sites – Top 8 Ranked
A Closer Look at Our Best Crypto Betting Sites
There’s plenty that goes into making one of the best crypto betting sites, as we are going to find out in our next section. Before that, though, here's an easy-to-understand checklist of key things you’ll want to know about our finest crypto sports betting options to see which is suitable for you.
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What Do We Look For in the Best Crypto Betting Sites?
While all the typical things you would expect us to consider (like customer service) are also taken into account for crypto betting recommendations, there are areas where crypto sport betting that deserve some extra attention.
- 01Variety and quality of cryptos offeredDid you know that there are thousands of different cryptocurrencies out there? That doesn’t mean that all of them are popular, but there are a few dozen that would be appropriate for crypto betting. And of course, the more cryptos available, the more people can enjoy crypto betting.
- 02UsabilityThe fact is there are some extra steps with regards to crypto sport betting, and people often have less experience using them. Therefore, the usability of the crypto betting site or app is vital to as many people as possible being able to enjoy what cryptocurrencies have to offer.
- 03Market Variety/OddsOne misunderstanding about crypto betting sites is they are a compromise. That is simply not the case - our standards for what is available for crypto betting and betting with traditional payment methods are the same. This means that in terms of market variety and the odds offered, we only expect the best.
- 04Mobile integrationCrypto betting may be the way of online betting’s future. But at one time, that accolade was held by mobile betting. It may be tough to appreciate now, but the ability to bet on the go is one of gambling’s greatest achievements. Therefore, we make a point of making mobile integration every bit as important as the desktop alternatives in our recommendations.
- 05Reputation and SecurityCrypto betting is often available on licensed betting sites. In fact, many crypto sport betting sites also offer fiat currencies. However, cryptocurrencies are, by their nature, removed from usual regulation, so extra precautions must be taken to ensure they are safe. Therefore, it may be necessarily to rely on both the reputation and security measures of the site, alongside your usual licence checks to ensure that the crypto betting site itself will ensure your safety and that you are treated fairly.
Promotions are a very special consideration when it comes to betting with crypto, in part because the subject causes some confusion. The facts though, much like everything in crypto betting, are very simple when you break them down.
Many betting sites – even those that have betting with crypto options – offer great betting promotions which restrict their usage to cryptocurrency users. However, this is not always the case. In addition, many crypto betting sites offer promotions that are exclusively aimed towards crypto sport betting and casino users. Importantly, these bonuses can be just as generous and as creative as any fiat currency alternative. It simply depends on the individual bookmaker's generosity.
Types of Cryptos Available for Betting
While there are thousands of potential crypto betting options – some much more popular than others, most work in very similar ways. We’ve chosen five just to give you an example of a few of the most common cryptocurrencies you'll likely find when crypto betting, as well as to highlight the subtle differences between them.
Benefits of Crypto Betting
Now that you know what kind of cryptocurrencies are available, what they are all about, as well as some of our picks for best crypto betting sites, you may be wondering exactly why you should choose crypto betting over your more traditional options. With that in mind, here are five of the most interesting benefits of crypto betting.
- 01SecurityArguably the most important reason people choose cryptocurrencies is that they have built-in anonymity and security features. This doesn’t mean that using cryptocurrencies guarantees every crypto betting site will be safe, but the blockchain certainly goes a long way in securing your funds. For many people, betting with crypto is the safest option, which is why they choose it.
- 02Global AppealCryptocurrencies do not have the same global barriers that are typical of fiat currencies. It means that most crypto betting sites are available worldwide. This creates a truly global option for betting fans. Many betting sites rely on a thriving community, and this helps make that a possibility while removing many logistical obstacles. It also means…
- 03More ChoiceMore betting sites mean more choice, and more competition when it comes to betting online can only be considered a good thing. It means better standards and broader coverage. Remember too there are no limits on how many kinds of sites you can sign up to.
- 04Exclusive PromotionsWhat we said about more choice is also true of promotions. More betting sites mean more bonus opportunities - not only that, but many crypto sport betting sites offer promotions which are exclusively available to those depositing with crypto coins.
- 05No InflationWhile people do consider the volatility of cryptocurrencies as a potential downside to crypto betting, it is worth pointing out that they do not have the same issues as fiat currencies regarding inflation.
- 06No Third Party NonsenseBecause there is no need for the typical third parties used with fiat currencies, there’s also the removal of several annoyances related to them. This includes most fees for deposits and withdrawals and the removal of possible deposit rejections on most grounds.
- 07Future ProspectsIt’s early days still in the world of crypto sport betting, so all we have seen here is only the beginning. We expect many more operators to become available soon just as we have steadily seen their uptake increase in the last several years. The excitement of betting with crypto isn’t just what is available, but what could become available.
How Does Crypto Betting Compare To Betting With Fiat Currencies?
First things first, it’s important to note that you can often use both crypto betting and fiat currency betting options on the same bookmaker. So, there’s really no need for the negatives of one to really impact you, as both are readily available.
And indeed, the positives of both can be enjoyed equally. It’s also worth noting that crypto sport betting sites and fiat alternatives have more in common than factors that distinguish them. For instance, you can expect great customer service, mobile options, competitive odds, and market variety on each.
The key differences between crypto betting may be broken down to the following:
- They will often have different promotions.
- There are some betting sites which will use one or the other exclusively.
- Fiat currencies do currently have more available betting sites.
- Betting with crypto offers additional anonymity and security.
- There are some extra steps to betting with crypto.
- Crypto betting allows for access to sites that may have not otherwise been available due to geographical restrictions.
- There are greater fluctuations in crypto value.
- Fiat currencies are subject to greater political impact such as inflation than crypto betting.
Kinds of Crypto Betting
Betting with crypto is more multifaceted than you might imagine.
It is commonly available on both sports betting and casino sites. With the former, there’s really no difference between crypto sport betting and fiat currency sportsbooks. For instance, there’s no reason that the number of sports betting markets would be any different based on the type of currency you are using.
The same can be said for casino betting; there’s no logical reason betting with crypto can’t provide just as great a variety of games.
That said, we would say there is more of a distinction between crypto betting casino sites and fiat options compared to what you can find with sportsbooks. That’s because the game variety – at least in terms of individual titles – depends on the software developers that are available, and often crypto betting sites have different software developers.
This is the case across all kinds of casinos and does not mean there is any loss of variety or quality.
There’s also the potential for things like spread betting, betting using NFTs, and betting exchanges, as crypto betting becomes ever more mainstream.
How To Bet With Cryptocurrencies
If you have never bet with cryptocurrencies before, there’s no need to view this as anything other than a simple process. For starters, you should already know most of it if you’ve ever paid for anything online, and the extra steps are easy to understand.
Here’s how to start your crypto betting journey:
- 01Create a crypto walletIf you do not already have a crypto wallet, this is the first step to getting involved with cryptocurrencies. From web browsers to hard wallets, there is a broad selection of crypto wallets you can carry around with you. Examples include the likes of Coinbase to the offline Ledger Nano options. A good crypto wallet is vital so do a bit of research to find one that is right for you.
- 02Buy your digital currencyNow you have your wallet, it is time to buy some cryptocurrency to put in that wallet. Binance is a good example of a great exchange and cryptocurrency, as you could be betting with Binance as well as buying from them. Coinbase is another very popular alternative, as are eToro and Kraken to give a couple of examples.
- 03Choose a crypto betting siteIf you are not already signed up to a crypto betting site, now would be the time to find one that is right for you. Be sure too that they accept your preferred cryptocurrency. Register and sign in, which should only take a few moments. Be sure to make note of any welcome offers or relevant promo codes at this time.
- 04Deposit fundsNow you will need to deposit using your crypto wallet. This is not much different inputting debit card information, but you are instead putting in details relevant to sending cryptocurrency. This would typically see you receiving a required address to send your cryptocurrencies to. Do note that transaction times vary depending on the preferred currency.
- 05Bet with cryptocurrencyBeyond this, the betting process is typical. Simply find your preferred sports market and tell them how much you wish to wager and confirm just as you would with a fiat currency.
Crypto Betting FAQs
Yes, many betting sites allow you to bet on your favourite sports using a wide variety of cryptocurrencies. If you are unsure of whether crypto sports betting is accepted on a bookmaker, check out their payments page for more details.
Bitcoin is the most popular crypto betting option, but many others are available, such as Bitcoin Cash, Ethereum and Dogecoin.
The process of betting with crypto is a simple one that involves buying cryptocurrencies, putting them in a wallet, transferring that money to a relevant betting account, and then betting with them as normal. You can find more detailed information on this page.
Yes. While there are always some security considerations, betting with cryptocurrencies can be even safer than betting with fiat currencies.
Yes, cryptocurrencies may be available as part of promotions and may even have exclusive bonuses.
ThePuntersPage Final Say
If you were interested in crypto sports betting but had some doubts holding you back, we hope that our guide has shown that most people’s concerns are unfounded. Crypto betting is now mainstream, uncomplicated, and can be easily used alongside your traditional accounts. Perhaps, most exciting of all is that we are only just getting started in seeing what crypto betting can offer.
While cryptocurrencies have been around for a while, it’s only recently that their versatility appears to have become broadly utilised, including within the gambling industry. We hope that as time goes on, we will see many more crypto sports betting options, with a mixture of dedicated sites and integration into household names both looking likely in the near future.