Even in today’s advanced technological age, not everyone understands crypto gambling. Most still gravitate towards wire transfers and credit card transactions, believing that cryptocurrency is too complicated to use, and that there aren’t too many cryptocurrency betting sites in the first place. None of this is true.
Now more so than ever, this high-tech form of online wagering is accessible to anyone, in addition to being accepted by pretty much everyone. You might even find that it’s easier to use a crypto wallet than another payment method. We’re serious. And we’re about to tell you why.
Why You Should Bet with Cryptocurrency
No fees will be charged for crypto deposits at Bovada.
Deposits made using cryptocurrency at Bovada will be available within minutes. However, you’ll have to wait longer for payouts—usually between 24 and 36 hours.
Between zero crypto fees and a specific $750 welcome bonus for new users, it’s hard to figure out why you wouldn’t choose Bovada. Sure, the wait time on payouts is a little longer, but it’s more than manageable. You won’t regret signing up for crypto betting here.Read Bovada Review
Crypto deposits at BetOnline will not be subject to any additional fees.
BetOnline promises ultra-fast processing on crypto transactions, and they aren’t kidding. Deposits are available close to instantly, and they tout one of the fastest payout turnarounds in the business.
Sure, BetOnline is a treasured crypto-gambling destination for their speed. But they offer so much more. Chief among the extras are crypto-specific bonuses. New customers get a 100 percent deposit match on their first transactions, while returning customers receive a 35 percent bonus on their recurring investments. Better still, BetOnline will match a better crypto bonus from a rival sportsbook if you can find one.Read BetOnline Review
No fees will be charged from Bodog when making a deposit or requesting a withdrawal using cryptocurrency.
You won’t have an issue processing crypto transactions here. Deposits hit your account almost immediately, and your payout requests should hit your wallet within two 36 hours.
The crypto-betting experience at Bodog is just all-around solid. If we could quibble over something, it would be the value of their bonuses. They offer a 100 percent match on crypto deposits at the sportsbook and 150 percent at the casino. However, they will only honor these promotions up to $300 and $900, respectively. That’s hardly nothing, but it is lower than many of the sportsbooks in the US and abroad.Read Bodog Review
You won’t be charged any fees for making crypto deposits or withdrawals at Sports Interaction.
Customers will have their crypto deposits in their account instantly, and they won’t have to wait much longer for their payouts to go through. Few sportsbooks are quicker than Sports Interaction when it comes to processing crypto transactions.
Perhaps the absence of a specific crypto deposit bonus is a turnoff for you. Try not to feel that way. Sports Interaction still offers a 100 percent match on all forms of sportsbooks deposits for new users, including cryptocurrency. It’s more important that they streamline the process on their mobile site. You cannot say that for all sportsbooks. It usually takes longer to punch in the necessary information and get approval, particularly on your first try. This just isn’t the case at Sports Interaction.Read Sports Interaction Review
Crypto users won’t be charged a fee by SportsBetting.ag for either deposits or withdrawals.
It won’t take long for your cryptocurrency transactions to go through at SportsBetting.ag. Like almost everywhere else, your deposits are available to use immediately, and they promise to deliver your approved payouts almost just as quickly.
SportsBetting.ag’s crypto bonus is huge. Yes, there are other sportsbooks offering 100 percent matches for new users. There are even sites that tack on an extra 35 percent for returning customers. But SportsBetting.ag separates themselves from the field by honoring these offers up to $2,500 for new users and $1,000 for returning customers.Read Sportsbetting Review
The advantages of betting with cryptocurrency are almost endless. No, we’re not kidding.
Crypto-specific bonuses are near the top of this upside hierarchy. As you can see in our breakdown of the best crypto betting sites, many sportsbooks will up their first-time deposit bonuses for customers using this payment method. Not only that, they’re also more liable to offer promotional extras for returning users who use crypto.
If this sounds too good to be true, it’s not. Sportsbooks benefit from cryptocurrency the same way you do. They don’t have to wait as long for deposits to hit, and they have the ability to essentially process transactions themselves rather than wait for a third party to approve it and then transfer the balance to them.
Prospective crypto bettors are also usually treated to more affordable fees—as in, for the most part, absolutely no fees at cryptocurrency betting sites. This yet again comes back to convenience for both parties. Sportsbooks want to process deposits as seamlessly as possible. Because crypto transactions are so quick and only exist in the first place because you have the money to bankroll your account, most sites won’t charge you an extra fee to process transactions.
This tends to be true no matter how much money is being exchanged. Deposits, withdrawals, small amounts, huge amounts—it doesn’t matter. The fees are almost always zero. Sportsbooks aren’t on the hook for paying a company to process the transaction, which helps, and they’re also not having this incoming money regulated as stringently by their local and federal governments, which again shelters them from outside fees. They’re inclined to pass that savings on to you.
Crypto transactions also tend to be processed much faster than other deposit and payment methods. Why, you ask? Because there’s no middle man. You’re not waiting for a third party to process anything. You are making a direct transfer from one crypto account to another, which makes for quick payouts and even quicker deposits.
Furthermore, chief among the best crypto benefits is confidentiality. This method of payment isn’t regulated by any government or centralized medium. That makes it secure to the extent that there’s no one database that can be hacked.
You’re likewise able to create accounts under an alias, in case that information is somehow compromised via a transfer. This isn’t an option you legally have when you’re using a credit card or an official bank. Think about cryptocurrency like electronic cash. There’s no paper trail, which all but ensures your information will be safe.
The first step to gambling with cryptocurrency is choosing a storing method: electronic or physical. The former tends to be more popular, because you’re able to access your “cash” using a password and verification process through a website or app.
Physical crypto storage comes in the form of hard drives or usb drives. Though they’re less likely to be hacked, since the information isn’t stored online when you’re not using it, you still need to make your money available online during the online-betting process.
In addition to deciding which type of storage method you prefer, you’ll need to select the currency itself. At present, the most popular crypto methods include the following:
After selecting the crypto type, you need to actually convert your cash into this currency. This is done by connecting a payment method. Bank accounts and credit cards are valid conversion sources, but you also have the option of using an e-wallet if you’re concerned about keeping your most sensitive financial information out of this process entirely.
Let’s say you’re fully set with your crypto payment method. How do you then transfer those funds to your sportsbook?
This process varies by website. For the most part, though, you’ll select the type of cryptocurrency on your sportsbook’s deposit page and then use a provided QR code and wallet address. This information essentially equates to your sportsbook’s crypto account.
At this point, you’ll then go to your crypto wallet, input that information, choose how much you’re sending and complete the transaction. While processing times can vary, the funds typically hit your account in minutes. Bitcoin, for example, usually doesn’t take longer than 20 minutes.
Ethereum is known to be even faster. And if this isn’t your first time making a crypto deposit at your sportsbook, there’s a strong chance the transaction will be completed close to instantaneously.
There is an inherent additional layer of security when betting with cryptocurrency. As we mentioned before, you’re not dealing with a third party during this part of the process. This is a transaction between you and your cryptocurrency betting site, and nobody else—not an e-wallet, not a credit card company, not a bank account.
Even better, pretty much every sportsbook processes these transactions using encrypted connections to further beef up privacy and security. This is almost an industry standard; online bookies handle so many crypto transactions on a daily basis, both in the form of deposits and withdrawals, that it’s imperative they protect themselves as well as their customers.
The most security-conscious bettors also have the option of using physical crypto storage. Once more, by going this route, your funds are stored on a drive that isn’t connected to a network when you’re not using it. The information only reaches the internet when you have it hooked up to your computer and are making a deposit to your crypto bank or your sportsbook. Once you unplug it, there is a zero percent chance that it can be hacked.
While this is more of a tedious way of using crypto, there’s no denying the added benefits. Because crypto isn’t regulated by a governing agency, there’s no recourse when you’re hacked. And though crypto-hacking isn’t what we’d call a ubiquitous risk, it’s still something to consider if you’re going to use an electronic wallet.
Easier Than Many Think
Too many sports bettors are intimidated by the idea of cryptocurrency. You don’t need to be. Setting up an electronic wallet or physical hard drive is easier than you think, and you don’t have to worry about finding cryptocurrency betting sites; almost all of the major sites do.
Bonuses, Bonuses, Bonuses
Sportsbooks aren’t in the habit of handing out additional deposit bonuses for more traditional payment forms. You’re not getting anything beyond the typical extras if you use credit cards, wire transfers, money orders and all that. Crypto deposits are different. We’d estimate more than two-thirds of the major online gambling sites have some sort of crypto-specific promotion new users can capitalize on. And most of those sportsbooks will also have bonus programs in place for subsequent deposits. It won’t be along the lines of a 100 percent match, but you should net anywhere between 25 and 50 percent of all your future deposits—all while typically enjoying smaller rollovers.
A Balanced Way to Bet on Sports
Overall, we’d strongly endorse this payment form for bettors who value security, speed and transaction cost. No other method does a better job of juggling all three, and the speed and zero-maintenance costs in particular are unparalleled.