Cryptocurrency Betting

4/6/2022

Increasing interest in Canada, Russia and Latin America also highlighted in new report. According to the SoftSwiss Game Aggregator 2020 corporate report, “the absolute and relative value of cryptocurrency gambling traffic has increased threefold in 2020,compared to 2019,” said Andrey Starovoitov, COO at SoftSwiss.

The union of online sports betting and emerging technology is an ever-evolving process. Blink and you just might miss the latest development in this fast-paced industry with its constantly changing landscape.

The sports betting industry has swayed toward Bitcoin as a tremendously popular banking method in the past few years. Nearly all online sportsbooks now accept Bitcoin and often encourage players to use this method of banking. Bitcoin has taken over the sports betting industry, and every bettor should understand the cryptocurrency. What is Cryptocurrency Gambling? Bitcoin’s popularity has made way for a new type of online gambling activity which focuses on wagers rolled across the internet and registered in Bitcoin’s public ledger, which is known as the blockchain.

The development of live in-play betting in conjunction with the evolution of mobile sports betting apps revolutionized the way that people both placed bets on games and in the manner in which they made those wagers. Today, between 70-80 percent of all bets are done through a hand-held device and that number is only expected to increase in the coming years. Consider that it was only 25 years ago when the first online sports bets were being accepted. And now, thanks to live streaming, bettors can watch and wager on obscure sporting events from all corners of the globe. As well, they can do so from wherever they’re located thanks to their smartphone.

Online sports betting sites always seem to be on the cutting edge of change. Another recent development with sports wagering sites is that they were among the first industries to embrace cryptocurrency as a form of payment for services. Almost all of the leading online sports betting sites are good with this concept, but if you’re into sports betting and you want to use cryptocurrency to fund your account, check in with My Top Sportsbooks and they’ll provide you the down low on which sites are crypto-friendly locations.

Why Cryptocurrency?

For starters, it’s not a fiat currency, meaning a form of money produced by the government of a country. With each of these traditional forms of money, there can be restrictions that come into play that won’t be a factor if you’re dealing in Bitcoin, Litecoin, Ethereum, or any accepted form of cryptocurrency. The blockchain knows no boundaries.

For the most part, online sports betting sites operate within a global marketplace. The majority hold licences in several countries. While they’re all willing to do currency exchanges, eliminating the hassle of such a necessity is beneficial to both the players and the betting site.

With all forms of cryptocurrency, the transaction is a seamless process. And betting sites recognize the consistent growth pattern in terms of value being displayed within the blockchain. They see how all major forms of cryptocurrency are performing on the stock market and want to get their hands on some of that and watch it grow.

It’s Safe And Secure

Even as betting on sports becomes more mainstream, there still appears to be an element of society that wants to continue to treat the activity as some form of prohibited taboo. Many credit card companies are moving away from enabling transactions between their cardholders and betting sites. Google forbids mobile betting apps from placement within the Google Play Store.

One of the beautiful aspects of cryptocurrency is its complete anonymity. Deposits and withdrawals are transacted through a player’s cryptocurrency wallet. No personal information is exchanged during the process. It’s unlike a credit card transaction or an online bank transfer where personal data is traveling through cyberspace. Even if a third party were to somehow gain access to the information from someone’s cryptocurrency transaction, there’s no way for them to gain access to the funds. All cryptocurrency transactions are 100 percent safe and secure.

Likewise, a cryptocurrency transfer will never be rejected by a betting site. And the money moves quicker in and out of a player’s account than it would when being transferred from any traditional form of currency exchange. Some of these transactions with betting sites can take days to be completed.

It’s convenient as well. The vast majority of cryptocurrency transactions can be done with a mobile device.

More Bang For Your Buck

Cryptocurrency users won’t get nickel and dimed by financial institutions as they move their funds around. In the blockchain, there are no commissions or fees imposed when it comes to financial transactions.

As well, because betting sites want to encourage the use of cryptocurrency, they are providing players with excessive bonuses in order to make it happen. For instance, Bovada is offering up to $5,000 in Bitcoin bonuses. There’s a 50 percent Bitcoin match bonus up to $500 to bet on sports and a 150 percent Bitcoin casino match bonus up to $1,500 that is redeemable three times.

With fiat currency, Bovada’s bonus offer maxes out at $250.

Jen van Lier - October 30, 2018

The explosion of cryptocurrency has wholly modernized and transformed online betting to the point where it is fast becoming the preferred currency of betting. It seems that more and more people are seeking out the use of crypto sports betting sites to have a better and more varied gaming experience. Therefore, we have decided to highlight the advantages of these cryptocurrency sportsbook and select a few of the very best.

Advantages of Cryptocurrency Sportsbook

Before we delve into our top list of cryptocurrency sportsbook, it is important to point out how and why cryptocurrency sportsbook are so advantageous. The most significant advantage that has people choosing cryptocurrency sports betting websites is that the blockchain is 100% secure and transparent. You can place a wide variety of bets anonymously as well and have the peace of mind that you will get your pay outs.

Other factors that make cryptocurrency sportsbooks the best option for sports betting is that there are little to no fees, so you are sure to get more money in your wallet making it an attractive alternative to traditional betting options. Unlike a credit card or debit card transaction, Crypto transactions do not involve a third party for approval of a transaction, therefore, cutting out the potential for a transaction to be blocked.

Our Top Crypto Sports Betting Sites

Following those parameters, we put together a list of our top cryptocurrency sportsbook for you. Here they are:

1. Nitrogen

Established in 2012, they are based in Costa Rica and owned by Idealmedia.
This sportsbook offers most sports events as a betting option including NBA, NFL, EPA, Formula 1 and even curling.
They are completely anonymous, not even requesting an email address. Everything from your identity to your betting history is entirely anonymous.
Nitrogen offers a Two Way Authentification process.
Withdrawals are almost immediate.
You can use this site on all devices.

2. Mbit

Mbit has a well organized and easy to use website. The bet slip has been made extremely user-friendly for your betting enjoyment.
This sportsbook offers excellent odds which help them secure a spot in our top list of cryptocurrency sportsbook.
There is a wide range of sports events covered and, just as wide of a range of bets available.
The functionality of the betting markets are so clearly laid out and the same for both live and pre-live betting that it allows for a more spontaneous and intuitive live betting.
They offer betting with Bitcoin, Bitcoin Cash, Etherium, Litecoin, and Dogecoin.

3. Sportsbet

Sportsbet was established in 2016 and are based in Estonia.
This cryptocurrency sportsbook is hard to beat. Their site is professional but also loads of fun with an especially great live betting section.
The events covered are huge. Everything you can think of is included on Sportsbet. The amount of type of bets depends on the size of the event. The 2018 FIFA World Cup has as many as 75 different types due to its magnitude.
Withdrawals are immediate.
Their Live Chat is available 24/7, and assistants on the other side are efficient, friendly and knowledgeable.

Criteria for Choosing the Best Cryptocurrency Sportsbook

Keeping those advantages in mind, choosing the top crypto sports betting site involves checking which offer the purest cryptocurrency experience with all the advantages it brings, as well as the best bonuses and odds. It is essential to know the sportsbook you are going to use and be sure that their services are the very best that a cryptocurrency sportsbook can offer. So, which are the specific criteria you should take into account when looking for a cryptocurrency sportsbook?

Two-Factor Authentication

Two-Factor Authentication can be one of the most critical factors for your account security. There are no refunds in the blockchain world, so security and authentication are essential. A two-way authentication means that withdrawal cannot be completed without using an authorized authenticator or your original email address.
A wide variety of Betting Markets offered.

You want to have to access all games on the go and be able to bet on a wide variety of them. Most cryptocurrency sportsbooks cover all the main events, and that’s great, but it is wise to look for those who also maybe cover smaller events such as NCAA College Basketball and Football leagues for example.

What are the Processing Fees?