Cryptocurrencies have made their way into almost every industry and the recent trends suggest these changes are here to stay. You can now make transactions using cryptos, including bitcoin for just about any product, with a gentleman’s club in Las Vegas making headlines recently when accepting payment in crypto for lap dances.
It’s no surprise to learn the best online sports betting sites are also involved in this change, allowing members to make their predictions and pay for wagers using crypto. This can be done from anywhere in the world using a mobile app downloaded to your smartphone. Few industries have been impacted by technology quite as much as sports betting.
How do you place a bet on sports using bitcoin and other accepted cryptocurrencies? We have invited a sports gambling expert to answer your questions on betting using cryptocurrency. Read on for all the information you need on the subject.
Why have bookies started accepting crypto?
What’s the story? Why have the major sportsbooks around the world started accepting payment in cryptocurrencies all of a sudden? Well, this is no new thing as the biggest names in the gambling industry have been tracking the rise of crypto for many years, waiting for the right time to pounce. They have realised this year is their opportunity to react.
The most famous online betting sites accept crypto as payment for bets. You can deposit funds instantly from your banking account to your betting account using Bitcoin. That allows players to add funds and gamble on sports without delay. You can also withdraw winnings just as easily. If you have bagged a profit and want to withdraw in crypto before the risk of placing another gamble takes hold you can complete this process with a single click.
It was always just a matter of time before the biggest names in the sports betting industry showed their hand. The sector has become so competitive in recent years that it was obvious the midsize firms would follow as quickly as possible and this would eventually trickle down to the smaller bookies. To compete, a sportsbook can’t allow for their rivals to have an advantage over them. That involves big odds, generous welcome bonuses and ways to pay for your bets. The trend of accepting crypto for bets isn’t just the latest fashion, it’ll be here for a long time to come and users are delighted.
How do you deal in crypto?
When you have registered an online betting account with a sportsbook that accepts cryptocurrency it’s easy to get started. Visit the member’s area on your desktop computer or smartphone app and select deposits. There you can choose to use a debit card like VISA, an e-wallet such as PayPal or your Bitcoin account.
Select the method of payment then the amount you wish to add to your betting account before confirming. The funds will become available instantly and you can start betting on sports without any delay. Before you complete your transaction you must pair your crypto account with your betting account. This takes just a few minutes to do, and you must complete the process only once. When you have registered your bitcoin account to your betting account, it’s then a simple case of clicking, adding the amount you want to bet and confirming the transaction.
Withdrawing funds is just as simple. Suppose you have landed a winner and would like to take out some or all of the cash available you can do this with just a click. Check your balance, decide how much you’d like to withdraw then click to confirm. The transaction will complete as soon as possible, and you’ll have the funds available in your account.
Will you get a free bet welcome bonus using crypto?
The best online betting sites give new customers a welcome bonus free bet when registering an account and making their first deposit. These promotions come in different forms, but the most popular is a deposit matched bet. That’s a free bet that is equal to your first deposit and sports wager on the site. Therefore, the more you bet after opening the account, the higher your free bet will be.
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