The gambling industry has come a long way over the past couple of decades. In a time not so long ago, players would be required to visit their nearest land-based casino to play popular games such as blackjack, roulette, and video poker. Accessing the multi-billion dollar sports betting industry was also a pain-point, as you would be required to visit your nearest operator in person to place a bet.
Fast forward to 2024, and you can now access a full suite of gambling and sports betting markets from the comfort of your own home. However, things have moved to yet another level, with the rise of the online Bitcoin betting space. As such, we have created the Ultimate Guide to Bitcoin Betting – where we cover both gambling platforms and sportsbooks. We explain how Bitcoin gambling works, the many benefits it offers over traditional fiat-betting, and how you can get started today.
Top Bitcoin Sports Betting Sites in November 2024
- All
Welcome Bonus Of 200% Up To 10 ETH
Welcome Bonus Of 200% Up To 10 ETH
- Globally licensed Telegram casino, fully anonymous
- 10 ETH bonus plus exclusive access to high roller NFTs
- Favorite choice of Web3 influencers
100% Bonus Up to 1 BTC + 10% Weekly Cashback
100% Bonus Up to 1 BTC + 10% Weekly Cashback
- VPN Friendly - Anonymous Casino & No KYC
- Zero fees, instant deposits & withdrawals
- 5,000+ casino games & sports betting without limits
270% on Deposits of a Min of $400 / Max of 1 BTC
270% on Deposits of a Min of $400 / Max of 1 BTC
- Supports 50+ crypto coins & DeFi tokens
- Native currency BCD
- VIP & SVIP loyalty program
200% Up To €25,000 + 50 Free Spins
200% Up To €25,000 + 50 Free Spins
- Deposit using 20+ cryptocurrencies and Wallet Connect
- High maximum bets, instant withdrawals with no constraints
- VIP welcome bonus, daily 100 free spin missions
200% Deposit Bonus up to $25.000 + 10 Free Bets
200% Deposit Bonus up to $25.000 + 10 Free Bets
- No KYC and VPN friendly
- Huge game selection + thousands of live markets + free daily bonuses
- 24/7 customer support + instant withdrawals
200% Up To 1 BTC And 50 Free Spins
200% Up To 1 BTC And 50 Free Spins
- 1 BTC bonus instantly after a simple registration process
- Gamified loyalty program including game of the week missions
- Available through Web or Telegram + live streaming via the sportsbook
100% Welcome Bonus up to $500
100% Welcome Bonus up to $500
- No KYC and VPN friendly
- Huge game selection + thousands of live markets + free daily bonuses
- 24/7 customer support + instant withdrawals
$100 Risk-Free Bet
$100 Risk-Free Bet
- Instant payouts
- No verification
- Quick and easy registration
100% Welcome Bonus Of Up To 1 BTC
100% Welcome Bonus Of Up To 1 BTC
- Up to 60% rakeback wager free
- VPN and KYC friendly
- Instantly approved zero fees withdrawals
Welcome Cashback up to 1 BTC
Welcome Cashback up to 1 BTC
- No KYC and complete anonymity
- Casino and sports betting
- Instant deposits and withdrawals
- 24/7 live chat support and e-mail
The Best Bitcoin Betting Sites List
- Lucky Block – New End-to-End Crypto Betting Platform
- WSM Casino – Newly Launched Crypto Betting Site With An Attractive Bonus
- BC.Game – Leading Bitcoin Betting Site in the USA
- Wild.io – New Sports Betting Section Now Live for Enthusiasts
- Sportbet.one – Among The Best Sports Betting Websites
- Betpanda – One of the Oldest Crypto Casinos on the Block
- Metaspins – Extensive Football Betting Options
- Vave – Specialist Bitcoin Sports Betting Platform
- Betplay – Best Bitcoin Sportsbook in the Market
- Flush – Crypto Casino that offers Great Slots Experience
- Jackbit– Best for Welcome Betting Bonus
- ReelCrypto – Crypto Casino that offers Games in Demo Mode
- Casino Bit – Safe Betting Platform with Excellent Sign-up Bonuses
The Best Bitcoin Betting Platforms Reviewed
The crypto sports betting industry has seen remarkable growth, with a plethora of platforms now catering to a wide range of preferences in terms of regulation, security measures, available cryptocurrencies, and unique betting features.
We’ll take a closer look at the top BTC betting sites and the key points to bear in mind for each below:
Lucky Block – New End-to-End Crypto Betting Platform
If you’re looking for the best Bitcoin and crypto betting platform on the market right now, go with Lucky Block. A brand-new platform with no KYC requirements, this site stands out as being the most accessible. Just an email address is required to get started betting with Bitcoin, Ethereum, its native token LBLOCK and more cryptos.
Also appealing is its wide selection of games from industry-leading providers such as Play’n Go, Pragmatic Play, Red Tiger, and Hacksaw Gaming – number over 2,700 at the time of writing.
Moreover, if you’re new to crypto and want to sign up on this Bitcoin betting platform using fiat currency, that’s also an option. Lucky Block supports everything from Apple Pay to debit / credit cards to wire transfers with its on-ramp functionality. You can start playing with a lot minimum deposit of $1.
Lucky Block’s welcome bonus is a 200% matched deposit bonus of up to 25,000 euros and 50 free spins. The bonus amount is paid in installments and has a 6x wagering requirement.
On Lucky Block, you can not only bet on slots and all the classic table games, you also get a chance to bet on sports – so it’s worth a punt if you’re looking to bet on the latest world cup football game.
For UK and US players, a VPN is currently required to access this new Bitcoin betting site.
Key Points:
✔️ Over 2700 games
✔️ No KYC details required
✔️ Start playing with just $1
✔️ Supports fiat, Bitcoin, LBLOCK, and other cryptos
Mega Dice – Popular Bitcoin Betting Site with a High-Quality Sportsbook
Mega Dice stands out as a prominent Bitcoin betting site on a global scale, offering players a great casino and a seamless sports betting experience. As the platform’s popularity continues to soar, the developers are diligently working on enhancing its features. It is likely that their first priority may be in expanding the current selection of games, as it is currently limited to a few options when it comes to categories like live games or crash games.
Boasting a strong emphasis on user anonymity, Mega Dice eliminates the need for Know Your Customer (KYC) procedures, sparing users the inconvenience of submitting identification proofs. Notably, the platform imposes no withdrawal limits, and the payouts are processed instantly, a commendable attribute that sets it apart from other casinos. While access to the platform is restricted in the USA, users can circumvent this limitation by utilizing reliable VPN connections like ExpressVPN or NordVPN.
Mega Dice presents an enticing loyalty bonus program that rewards its users generously. While the range of bonuses may be limited compared to other platforms, the welcome bonus of 200% up to 1 BTC, accompanied by 50 free spins, certainly captures attention. In addition to this, the betting site excels in various aspects, including good customer support, support for multiple popular cryptocurrencies and a user-friendly interface. It undoubtedly emerges as a platform worthy of consideration for gambling enthusiasts of all kinds.
Key Points:
✔️ Welcome bonus of 200% up to 1 BTC
✔️ Huge sports betting selection
✔️ Great customer service
✔️ Unlimited withdrawals
✔️ VPN friendly
BC.Game – Leading Bitcoin Betting Site in the USA
Many Bitcoin betting sites have emerged, but only a few of them have done it with as much style as BC.Game. There is a wide variety of games on this platform complemented by a great visual appearance and a slew of security features ensuring the betting features remain ethical.
Launched in 2017 and owned and operated by BlockDance B.V BC.Game is a Curacao-licensed Bitcoin betting platform that has been awarded many accolades, from Crypto Casino of the Year Sigma Award to AIBC Blockchain Gaming platform of the year. Right off the bat, the biggest thing that stands out in this platform is the wide array of welcome bonuses that are distributed over four deposits. Other than standard welcome bonuses, BC.Game also has loyalty programs for the VIP members.
There are over 2000 games on the platform and over 6,000 games for the players to bet on. These include standard lots to sports betting that go beyond IRL events but also include crypto eSports betting. BC.Game’s wide selection of games includes the BC originals such as Crash, Baccarat, Classic Dice, etc. In the slots section, players have an option to select between 1600 options, including Age of Asgard, and Magic Unicorn, to name a few.
It is one of the oldest Bitcoin betting platforms in the world and is available almost everywhere. So sign up here if you want to jump in.
Key Points:
✔️ Welcome bonus of up to 240% of the deposited amount
✔️ Supports dozens of cryptocurrencies
✔️ Huge library of betting games
✔️ Excellent customer service
✔️ Fast deposit and withdrawal process
✔️ US players accepted
Wild.io – New Sports Betting Section Now Live for Enthusiasts
Popular Bitcoin casino Wild.io has now entered the realm of Bitcoin betting with the introduction of its sports betting page. Featuring an interesting UI inspired by the industry’s greats, Wild.io’s Bitcoin betting opportunities are many.
Multiple genres of sports are covered, from player favorites like Football to titles like Call of Duty and Warcraft 3. The live betting opportunities of this platform are multiple, with the In-Play section showing hundreds of matches going on at the same time. The platform’s odds are also good, and so are its multiple bonuses.
Wild.io has also made the arrival of this new mode worthwhile with the introduction of bonuses. Not only will players get 50% off on every bet slip. There is also a 50% Combo Boost with Wild.io’s Wild Boost. Additionally, the platform requires no KYC to sign up and supports instant withdrawals. Accessing the platform is also easy, thanks to it supporting VPN. Furthermore, there is also 24/7 customer support, making it easier for newcomers and old players to engage with the platform easily.
✔️ Up to 50% off on every bet slip
✔️ Supports thousands of live markets
✔️ Daily bonuses available
✔️ 24/7 customer support
✔️ Instant withdrawals available
✔️ VPN supported
Cloudbet – One of the Oldest Crypto Casinos on the Block
Cloudbet was one of the very first Bitcoin betting sites to emerge, having launched in 2013. Its old age also consolidates the fact that it is one of the most trusted Bitcoin betting platforms in the market that largely focuses on mobile betting for the gamers on the move.
Like most Bitcoin betting platforms on this list, Cloudbet provides offers a slew of games in both casinos and the sports betting sections. These features are complemented by a great user interface featuring a deep grey background that makes the betting ecosystem worthwhile for all players. It has a wide category of table games, slots, live casino games. and sports betting games for the players. It currently sports about 27 cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, and DAI.
Cloudbet has received its license from Curacao Gaming Federation and E Gambling Montenegro, making it one of the most regulated gambling platforms on our list. It is safe, secure, and overall provides a satisfactory gambling experience.
You can use our affiliate link to sign up to the platform and get your hands on the welcome bonus.
Key Points:
✔️ Optimized for mobile for players on the go
✔️ Supports 27 cryptocurrencies
✔️ Has a large library of betting games
✔️ Offers high betting limits
✔️ New offers are available every week
FortuneJack – Best Bitcoin Sportsbook in the Market
If you’re looking for the ultimate Bitcoin betting platform that covers all bases, then look no further than FortuneJack. Launched in 2014, the online platform is now one of the most established Bitcoin casinos in the online space. Its gaming suite covers virtually every gambling game possible, with dozens of variants to roulette, video poker, blackjack, and baccarat – a huge slots department that offers jackpots of the BTC-equivalent of $1 million+, and a comprehensive live dealer section.
However, unlike the other Bitcoin betting operators that we have discussed thus far, FortuneJack stands out because it also offers a fully-fledged crypto sportsbook. This covers thousands of individual markets, both pre-match and in-play, catering specifically to users looking to bet with cryptocurrencies. When we explored the betting odds offered by FortuneJack in more detail, we found that these were just as, if not more competitive than the traditional betting space.
As is the case with all of the other Bitcoin betting platforms that we recommend, FortuneJack facilitates instant deposits and withdrawals, all of which can be made without uploading any verification documents. Finally, if you are interested in playing at the FortuneJack crypto sportsbook, you’ll be accustomed to a 10 mBTC welcome bonus. Over in the gambling game department, you’ll get a 110% matched bonus up to 1.5 BTC, alongside 250 free slot spins.
Key Points:
✔️ Fully-fledged crypto sportsbook
✔️ Massive gambling department that covers all game types
✔️ Progressive slots with multi-million dollar jackpots (BTC-equivalent)
✔️ Welcome bonus of 1.5 BTC + 250 free slot spins
✔️ Instant deposits and withdrawals
✔️ Established since 2014
Punt Casino – Crypto Casino that offers Great Slots Experience
Punt Casino is an online casino that offers games related to bitcoin games in a simple and easy way. The casino provides a collection of quick and trustworthy cryptocurrency options for safe deposits and withdrawals. Video poker, table games, slots, and progressive slots are among the various types of games that are offered in this casino.
The casino attracts fresh players with a variety of tempting bonuses and free spins. Their welcome offer of up to $1500 + 500 free spins is causing a stir among the players in this industry. It offers exceptional bonuses, various banking alternatives, the quickest transaction speeds, and a distinct segment for customer care.
The casino operates under a gambling license from the Government of Curacao, which makes it credible in the eyes of avid gamblers. It uses the RTG protocol to keep full transparency during players’ active gaming sessions, which assists in ensuring the integrity of the games. To provide its users with a healthy gaming experience on its platform, the casino provides a simple and easy user interface with unique fashion and vibrant themes.
The casino was recently established in 2021, and there are some restricted countries, such as Afghanistan, North Korea, and Turkey, whose players are not able to access the services of this casino in their region. It uses the latest firewall technology and SSL encryption to keep the financial and personal data of all its players safe and secure.
Key Points:
✔️ Accepts cryptocurrencies as a form of payments
✔️ Simple user interface
✔️ Live chat for registered players
✔️ Instant deposits and withdrawals
✔️ Employs the latest security standards for data protection
mBit – Best for Welcome Betting Bonus
mBit is an established online gambling platform that accepts a range of cryptocurrencies – including that of Bitcoin. Much like in the case of Bitcasino, the gaming suite available at mBit is highly comprehensive. With other 2,000 individual games on offer, the platform has something for all player types.
This includes multiple variations of popular table games like blackjack and roulette, and hundreds of slot titles. Regarding the latter, this covers everything from basic 3-reel slots, bonus-rich video slots, and even the odd progressive jackpot slot. While we were impressed to see a fully-fledged live dealer section, as well as a somewhat decent VIP program for loyal players, we were disappointed that the platform is yet to launch a Bitcoin sportsbook facility.
Nevertheless, we feel that mBit more than makes up for this with its lucrative welcome bonus. In a nutshell, if you are yet to open an account with mBit, you’ll be able to claim a 5 BTC welcome bonus. This starts with a 110% matched deposit bonus up to 1 BTC, alongside a whopping 250 free slot spins. The remaining 4 BTC is made up from your second and third deposits, and are subsequently matched by 75% an 50%, respectively.
Key Points:
✔️ More than 2,000 gambling games supported
✔️ Live dealers
✔️ Hundreds of slots
✔️ Welcome bonus of 5 BTC
✔️ Instant deposits and withdrawals
❌ No sports betting platform
Metaspins- Crypto Casino that offers Games in Demo Mode
Metaspins is another online crypto casino that allows Bitcoin betting under the license of the Government of Curacao. The casino offers a wide variety of games to its users, such as Slots, Hilo, Blackjack, Live Casino, Mines, Keno, etc. Unlike many other casinos, Metaspins does not provide any welcome bonus to its users.
However, the casino runs many promotions on a regular basis where users can stand a chance of winning up to 20 BTC through wagering competitions. By solely accepting cryptocurrencies, Metaspins Casino provides its customers the minimal, quick, and secure services made possible by blockchains. Some of the cryptocurrencies that are accepted on this platform include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Dogecoin.
One of the unique features of this casino is that it allows players to play games in demo mode. As a result, users are not required to gamble their money by directly investing it in a game. Rather, they can try a sample version of any game and learn its nuances through it. As of now, the casino does not have a mobile application; however, users can easily access it from their mobile web browser.
Metaspins is also known for offering decent customer support services through its email and live chat support system. Its customer support is also available in multiple languages, such as French and German. The fact that it offers games from trusted providers like iSoftBet, Netent, and Playson, also increases the credibility of this casino.
Key Points:
✔️ Offers a wide variety of games on its platform
✔️ Provides demo mode to new users
✔️ 24/7 live chat facility
❌ No welcome bonus for users
❌ Mobile application is not available
Bitcoin Games- Safe Betting Platform with Excellent Sign-up Bonuses
Bitcoin Games is the official crypto casino of Bitcoin.com, which offers a wide variety of casino games to its users, such as slots, table games, live dealer options, etc. The casino is registered under the laws of Costa Rica, which makes it mandatory for it to adhere to the standards and requirements of the online gambling industry.
As far as payment methods are concerned, this casino only accepts Bitcoin and Bitcoin Cash from its users. The purchase of cryptocurrency through Visa and MasterCard is allowed on this platform. The usage of Bitcoin in its payment mechanism provides unique anonymity to all players in this online casino.
The interesting perks are available to both new and existing players at Bitcoin Games. The crypto casino offers a few welcome incentives in addition to regularly changing unique and fascinating prizes for current players. The VIP Welcome Bonus offers players who make deposits of $2,000 or more a 25% Cashback on any slots played all across two weeks after the promotion’s activation. A player can only earn a maximum cashback of $2,000 worth of Bitcoin from this bonus.
Similarly, Welcome Bonus offers players who make deposits of $50 or more a 15% Cashback on any slots played all across two weeks after the promotion’s activation. A player can only earn a maximum cashback of $1,000 worth of Bitcoin from this bonus. Players can also get the exclusive services of a personal VIP account manager, deposit bonus, special rewards, exclusive promotions, and early access to the latest games by joining the VIP program of this casino.
Key Points:
✔️ Fast and easy sign-up process
✔️ Unique loyalty program for its users
✔️ An exciting collection of games
✔️ Fast deposits and withdrawals
❌ Allows only two cryptocurrencies for making payments
❌ Charges deposit and withdrawal fees
Thunderpick – Best Bitcoin Betting platform that offers Crypto eSports Betting
Thunderpick is a one-stop destination for enthusiasts of online casinos, eSports betting, and sports betting. The platform is owned by Paloma Media B.V., which is the leading sportsbook and betting site in the world. It is governed by the rules and regulations of the Curacao eGaming Commission. The casino offers easy access to its betting part through its simple user interface. Players are entitled to receive the highest bonus on the basis of their rank points.
It accepts a variety of payment methods, including debit cards, credit cards, eWallets, digital crypto wallets, etc. They also have a minimum withdrawal requirement of 35 euros. Thunderpick is an online casino with a sportsbook specialty that offers a variety of games such as live dealer games, slots, provably fair games, etc. You can choose between playing live gaming events and spinning the reels at Thunderpick Casino.
New users at Thunderpick Casino are offered a huge welcome bonus. With a 30x wager, they are eligible to get a 100% matching deposit bonus of up to €500. Along with a welcome bonus, Thunderpick also offers daily, weekly, and monthly incentives. Among the most popular promotions on the website is the Daily Giveaways. If users take part, they might win fantastic prizes.
Key Points:
✔️ Offers live chat customer support to its users
✔️ Provides VIP membership program
✔️ Simple user interface for new users
✔️ Advanced security standards
❌ Restricted in some countries like USA and UK
Sportsbet.io – Leading Bitcoin Betting Platform with Multiple Betting Formats
Sportsbet.io is a great pick for betting enthusiasts who are not only looking for the large quantity of matches, but better leagues and great odds. While the platform covers all kinds of Bitcoin bets, ranging from conventional sports to eSports, much attention has been paid to leagues.
Soccer leagues, basketball leagues, baseball leagues, and cricket leagues are this platform’s many highlights. Operated by mBet Solutions NV in Curacao, Sportsbet.io also covers a wide variety of betting formats, including In-Play Betting, Outright betting, and Future betting.
Furthermore, the platforms betting markets are equally wide. You can pick between Winner bets, Handicap bets, Prop bets, 1×2 Bets, and more.
Other than Bitcoin betting, Sportsbet.io also supports multiple casino games. Welcome bonus, however, is absent. That said, bonuses are perks are available in the form of free cash, free chips and free bets.
Key Points:
✔️ Multiple betting markets
✔️ Multiple betting formats
✔️ Great selection of sports
✔️ Fair odds
❌ Restricted in some countries like USA and UK
Pros and cons of Bitcoin betting?
The Pros
- The technology ensures games are true and fair
- Covers both gambling games and sportsbooks
- Gamble anonymously
- Super fast deposits and withdrawals
- Takes no more than 30 seconds to open an account
- No need to upload identity documents
- Bonuses available for new players
The Cons
❌ Difficult to self-exclude as you can simply open a new anonymous account
❌ Gambling is high risk – you could lose a lot of money if it’s not controlled
Criteria used to rank the best Bitcoin betting sites
❓ What sign-up bonus the site offers for new players
❓ Whether deposits and withdrawals are instant
❓ How comprehensive the gaming suite is
❓ Whether it supports gambling ino games, sports betting, or both
❓ What customer support is like
❓ How competitive the odds/house-edge are
What is Bitcoin betting?
As the name suggests, Bitcoin betting refers to the process of gambling online – albeit, instead of using traditional currencies like the US dollar, you instead gamble with Bitcoin. The phenomenon first grew its roots back in 2013 with the launch of SatoshiDice.
For those unaware, the game was a simple dice betting game backed by Bitcoin, and it attracted a significant online following. One of the key reasons for this is that the game was facilitated by blockchain technology, subsequently guaranteeing that each gaming outcome was not only true and fair, but completely transparent.
Although SatoshiDice is longer here to tell its story, the game subsequently created a whole new industry of its own – the Bitcoin gambling industry. As such, there are now dozens of established gambling platforms and sportsbooks that specialize purely in Bitcoin deposits and withdrawals, as well as other cryptocurrencies like Ethereum and Bitcoin Cash.
How does Bitcoin betting work?
If you’ve ever engaged with the online gambling space, then you’ll be pleased to know that the end-to-end process is largely the same. If you’re yet to experience the wild and wonderful world of online gambling platforms, we’ve broken down the typical process below.
Step 1: Choose an online Bitcoin betting platform
First and foremost, you’ll need to choose an established online gambling platform. Depending on your needs, this will either be a platform that specializes in gambling games like blackjack and roulette, a sportsbook that allows you to bet on the outcome of sporting events, or a platform that offers both.
Our top pick for the best Bitcoin betting site was Lucky Block casino as it has no KYC requirements. Find that at luckyblock.com.
Step 2: Open an account and deposit Bitcoin
Once you’ve chosen your preferred operator, you’ll then need to open an account. Take note, and as we discuss in more detail further down, Bitcoin betting platforms allow you to remain anonymous. As such, all you need to provide is an email address and a strong password.
In terms of depositing funds, the process is exactly the same as funding a cryptocurrency exchange account. Your betting account will come with a unique Bitcoin wallets address. This is the address that you will need to send your Bitcoin to in order to fund your betting account. Simply head over to your private Bitcoin wallet, transfer the coins, and the betting operator should credit the funds within 1 confirmation (10 minutes).
Step 3: Choose what you want to bet on and have some sensible fun!
As soon as your Bitcoin betting account is funded, you can proceed to start gambling. This part of the process works in exactly the same way as any other online gambling platform. We’ve listed the most popular betting markets below.
Table games such as blackjack, roulette, craps, baccarat, etc. Lucky Block casino also offers:
- Live dealers
- Slots, including progressive jackpot slots
- Video poker
- Virtual games
- Sports betting
Step 4: Withdraw your winnings
Once you are ready to cash out your winnings, the process could not be simpler. All you need to do is head over to your Bitcoin betting account dashboard, select ‘Withdrawal’, enter the wallet address you want to withdraw the funds to and the amount, and that’s it!
While traditional fiat gambling platforms and sportsbooks will often take days just to process the withdrawal request, the vast majority of Bitcoin betting sites will do this automatically. As such, you’ll likely receive your winnings back into your private wallet within an unprecedented 10 minutes.
Bitcoin sportsbooks – How do they work?
Much like in the case of Bitcoin gambling platforms, Bitcoin betting sites work in much the same way as their fiat currency counterparts. In a nutshell, you will have access to thousands of betting markets at the click of a button. Whether you are looking to bet on soccer, basketball, baseball, cricket, tennis, or badminton – you will all-but certainly find a market offered by the Bitcoin sportsbooks that we recommend.
Here are some of the main features that you will need to look out for when you join a new Bitcoin sports betting site.
✔️ Sports Offered
First and foremost, you’ll need to make sure that your favorite sport is covered. Most Bitcoin betting platforms will cover the major sporting events – such as the NFL, NBA, Premier League, MLB, and more. However, if you have a passion for a less popular sporting market – such as cricket, darts, or badminton, then you’ll need to make sure the betting site in question offers it.
✔️ Markets Offered
It is all good and well if the Bitcoin betting platform offers your favorite sport, but you also need to make some considerations regarding the number of markets that the operator lists. When we refer to ‘markets’, we mean the number of different bets that you can make on a single sporting event.
For example, let’s say that you are betting on the NBA. Not only do you want to have the option of betting on who wins the game, but you’ll also want access to the totals market (e.g. how many points will be scored), quarter markets (e.g. which quarter will have the highest score) and player markets (e.g. which player will score the most individual points).
✔️ Odds
Once you’ve assessed whether or not the Bitcoin sports betting site has the required sporting events and betting markets, you’ll then need to make some considerations regarding the odds. Generally speaking, the Bitcoin betting sites that we recommend will offer competitive odds – especially in comparison to traditional online sportsbooks.
As a side tip, the best way to assess whether or not the platform offers good odds is to look at the handicap markets. Although the handicap markets are technically a coin-flip, you won’t get odds of Even Money (2:0). However, you’ll want to get as close to Even Money as possible. If the Bitcoin betting site offers 1.90 or higher on the handicap spread, then you’re on to a winner.
✔️ Limits
You should also spend some time assessing what sort of limits you are able to stake on your chosen betting markets. Most Bitcoin betting sites allow you to gamble with high stakes, which is great. However, this might only be the case on major markets.
A good way to assess the stake limit is to add your chosen market to your bet slip and click on the ‘MAX BET’ button. The sportsbook will automatically fill your stake amount, with respect to the maximum bet they will allow.
✔️ Get your head around ‘mBTC’
When you gamble at a Bitcoin betting site, everything is conducted in ‘mBTC’ as opposed to ‘BTC’. The reason for this is that it would be super difficult to assess how much you are betting, not least because you would have a significant amount of decimals to contend with.
For those unaware, 1 mBTC = 0.001 BTC. As such, if you deposited 1 BTC, your balance would be displayed as 1,000 mBTC.
In-Play and live betting at a Bitcoin sportsbook
If you’ve ever played at a traditional online sportsbook, then you might be fully aware of how the in-play section works. If so, great – because this is also available at Bitcoin sports betting sites. For those of you unaware, in-play betting allows you to gamble on a sporting market while the match is still being played. The bookmaker will update the odds on almost a second-by-second basis, to reflect the current position of the game.
Here’s an example of how in-play betting works at a Bitcoin sportsbook:
⚽ You are watching the USA vs England soccer game on TV
⚽ It is now half-time, with scoring locked at 1-1
⚽ You believe that England will go on to win the game
⚽ As such, you head over to the in-play betting department of your chosen Bitcoin sportsbook
⚽ The sportsbook is offering odds of 2/1 (3:0) on England winning the game
⚽ You place the mBTC equivalent of $100 on England, and your bet is accepted 10 seconds later (to allow for in-play delay)
⚽ England win the game 3-1, so your $100 stake has returned a total of $300!
Cash Out feature at Bitcoin sportsbooks
A relatively new feature available at Bitcoin sportsbooks is that of the Cash Out feature. Essentially, this acts as an insurance policy on a bet you currently have outstanding. For example, let’s say that you have a bet on the MLB, and your team is winning by 2 runs – great! However, with 3 innings left to play, you are worried that the other team might end up winning the game. By using the Cash Out feature, you can cash your bet out early, albeit – at lower odds than what you would have got if you held on to the bet until the very end!
Here’s an example of how it works:
You placed a bet on the New Zealand vs Australia rugby game
You staked $100 that New Zealand would win at odds of Even Money (2.0)
This means that were New Zealand to win, you would win a total of $200 – including your stake
With 10 minutes to go, New Zealand is winning the game – but only by 5 points
You now have two options – you can wait until the end of the game and hope that New Zealand hold on, or you can use the Cash Out feature
Based on the current score/time of the game, the Cash Out feature offers you odds of 1/2 (1.5), should you want to cash your bet out now
You decide to take the offer, and subsequently collect a total of $150 (original $100 stake x 1.5)
Australia scored a last-minute try and won the game – but this doesn’t matter, as you have already cashed your bet out!
Bitcoin Betting vs Traditional Fiat Gambling Sites
Before you begin your Bitcoin betting journey, it is absolutely fundamental that you have a firm grasp of the many benefits that it offers over its fiat currency counterpart. We’ve broken these down in more detail below.
✔️ Super Fast Registration
If you’ve ever used a traditional online gambling platform or sportsbook before, then you’ll know how much hassle it is to open an account. You need to go through a highly stringent account opening process, which asks you to enter your full name, address, date of birth, telephone number, and much more.
On the contrary, most Bitcoin betting sites will simply ask you to enter your email address. This is only needed in the event that you need to contact support, or you forget your login credentials.
✔️ Anonymous Betting
Following on from the above point, traditional fiat gambling platforms must engage in something called KYC (Know Your Customer). In a nutshell, this requires all online gambling platforms and sportsbooks to verify the customers that use their platform. As such, players need to upload a copy of their government-issued ID, proof of address (such as a bank statement or utility bill), and in some cases – a copy of the front and back of your debit/credit card.
This is in stark contrast to Bitcoin betting sites, as they allow you to gamble anonymously. As a result, there is no requirement to upload any identity documents, period!
✔️ Ultra-Fast Withdrawals
We would argue that the overarching benefit of playing at a Bitcoin betting platform is the withdrawal process. In the vast majority of cases, traditional gambling platforms will take 48 hours just to process your withdrawal request. Once they do, it will then take in the region of 1-3 working days for the funds to appear back on your debit/credit card. Sportslens.com goes into more detail about operator withdrawal times on it’s betting sites UK roundup.
Instead, Bitcoin betting sites are able to facilitate virtually-instant withdrawals. As soon as you make the request, the funds will be sent to your private Bitcoin wallet straightaway.
✔️ Security
It is also important to note that Bitcoin betting sites are significantly more secure – especially when it comes to payments. At a traditional online gambling platform, you would need to manually enter your debit/credit card details into the platform. This in itself presents a security risk.
However, when you deposit funds into your Bitcoin betting account, you do so from your external wallet. As such, there is no requirement to worry about your sensitive financial details ending up in the wrong hands.
✔️ Lower House-Edge & Better Odds
Running a traditional online gambling platform in 2024 is no easy feat for operators. One of the main reasons for this is that regulation has become so stringent that operators are required to spend vast resources to ensure they remain compliant.
This covers everything from a fully-fledged risk management team, anti-money laundering officers, and document verification departments. This has subsequently resulted in traditional online gambling platforms increasing their house-edges and/or sports betting odds just to cover the costs of enhanced regulation.
On the contrary, Bitcoin betting sites are not accustomed to the same regulatory red-tape. As such, they are not required to waste vast resources on compliance and thus – can pass these savings down to their players.
Are Bitcoin betting sites safe?
The most important consideration that you need to make prior to choosing a Bitcoin betting platform is whether or not the process is safe. First and foremost, let’s look at the games themselves.
Online gambling games: How do I know they are fair?
So, you’ve just spent the last 30 minutes playing an online slot machine with real money, and it’s just come to you – How do I know whether or not the slot machine is playing fair? In fact, how do I know that the gambling platform in question hasn’t rigged the machine? Well, firstly, this depends on the type of game that you are playing, as Bitcoin betting platforms will offer games that are created by regulated software developers, or games based on provably fair.
✔️ Regulated Software Developers: If it’s the former, then each game must go through a highly stringent testing process before it can be launched. Well-known players in this market include the likes of NetEnt, Evolution, and Playtech. Not only this, but software developers routinely have their games audited by third-party regulators to ensure they remain true, fair, and random.
✔️ Provably Fair: If you’ve read our guide up to this point, then you’ll remember how we mentioned SatoshiDice. The great thing about the game was that the developer created a new phenomenon called ‘Provably Fair’. Fully backed by blockchain technology, Provably Fair ensures that beyond any doubt at all, each and every gambling outcome it true and fair. Not only this, but as the data is facilitated by the blockchain protocol, this can be verified transparently at any given time.
Are Bitcoin betting sites regulated?
There is often a misconception that Bitcoin betting sites operate is the Wild West. However, this could not be further from the truth. Not only is there now a range of established platforms that boast a trading history of 5+ years in the industry, but many of the platforms in the space actually hold gaming licenses. If so, this is commonly issued by the Curacao Gaming Control Board, which specializes in the e-gaming marketplace.
How do Bitcoin betting bonuses work?
One of the best things about the Bitcoin betting arena is that – much like in the case of traditional online gambling platforms, new players are typically offered a welcome bonus. In most cases, this will center on a matched deposit bonus. This is where your first deposit is matched up to a certain amount. For example, a 100% 1 BTC bonus would give you a starting balance of 2 BTC, if you were to deposit 1 BTC.
Here’s an example of how a Bitcoin betting bonus works
- You join a new Bitcoin betting platform that offers a 100% matched bonus up to 5 BTC.
- As you don’t want to gamble 5 BTC, you instead deposit 0.2 BTC.
- This means that the gambling platform will match your deposit by giving you an additional 0.2 BTC
- Your starting balance is now 0.4 BTC, even though you only deposited 0.2 BTC
Sticking with the same example as above, you were awarded a 0.2 BTC bonus when you signed up and made your first deposit
However, the bonus funds have a wagering requirement of 10x
This means that you will need to gamble the bonus amount 10 times before you can request a withdrawal
In this example, you would need to wager 2 BTC (0.2 BTC x 10) before cashing out your bonus winnings
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FAQs
Do Bitcoin betting sites offer bonuses?
They certainly do. When you register an account for the first time, you'll be given a traditional matched deposit bonus, and likely some free spins too. Just make sure you understand how the wagering requirement works.
Are Bitcoin betting site withdrawals really instant?
When you request a withdrawal, the Bitcoin betting site will process it instantly. As such, you just need to wait for the Bitcoin blockchain to transfer the funds into your private wallet, which typically takes 10 minutes.
Who creates the games at Bitcoin betting gambling platforms?
Much like in the case of the traditional fiat gambling space, Bitcoin betting sites have their games designed by software developers. In the vast majority of cases, these are the very same developers that create games for the traditional gambling space.
What is the minimum deposit amount?
Because you are depositing funds in Bitcoin and thus - the gambling platform does not need to worry about transaction fees, there is typically no minimum deposits or withdrawals to contend with. This is perfect if you want to start with smaller stakes.
Will I need to upload ID at a Bitcoin betting platform?
Absolutely not. One of the best things about Bitcoin betting sites is that they allow you to deposit and withdrawal funds without needing to upload countless documents.
