Crypto Sports Betting 101

Your Guide to Sports Betting with Crypto

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One of the most popular and exciting ways to make a quick buck is betting. It is the perfect activity for those who have a big passion for sports and gambling, as they can use that passion and knowledge to their advantage.

A few years ago, crypto betting was not really that big, but as the popularity of crypto increased, it was only a matter of time until some of the biggest sports betting sites adopted crypto as their option for betting. Some sites even made crypto their main way to gamble and make bets.

Crypto Sports Betting Sites

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Should you bet with crypto?

Is crypto betting legal is one of the first things that a lot of people are concerned about before they start making bets with crypto, and the answer to that question is yes, it is completely safe and legal as there are no laws regulating Bitcoin gambling. The reason why gambling with crypto is preferred by most is that crypto, in general, is a much better way for paying for things, as it keeps your identity safe and all of your actions private.

How to bet on sports with crypto?

The first thing you probably want to know when it comes to crypto sports betting is how can you actually do it? Here, we are going to guide you step by step on how you, too, can make a bet on your favorite betting site, from acquiring crypto to cashing out.

1. Open a crypto wallet

Opening a crypto wallet is quite an easy thing to do, as there are hundreds of crypto wallets available on the internet. Of course, you would probably prefer to use one that has been used for various things (such as trading crypto, playing NFT games, sports betting, and casino gambling). Our recommendation is to use a cloud-based wallet, which is basically websites or apps that store your crypto on the cloud, and the security behind them is a private key that is given out to you and no one else.

Mobile wallets are also not that bad, but they are quite phone-dependent, which means that if your phone gets stolen or it simply breaks, your crypto will be lost forever. Desktop wallets are another kind that you might want to use, but there are various variants, so do some research before making this kind of wallet. Lastly, hardware wallets are the best ones, but they can be stolen, you can lose them, and moving assets from them to a platform is a bit annoying.

2. Buy some coins

Once you get yourself a crypto wallet, you will have to buy some crypto coins. In general, Bitcoin is the best one to get if you are interested in crypto sports betting, as it is used pretty much on all betting sites. Some of them even accept only Bitcoin and no other crypto. Before you decide which crypto you are going to buy, check if the site you are interested in accepts that crypto.

coinbase crypto wallet

When it comes to actually get the cryptocurrency, the most common way to get it is on a crypto exchange platform, as they mostly have the best rates. Each platform may have a different rate for the cryptocurrency you are interested in, so make sure to check around. Once you acquire the cryptocurrency of your interest, you will have it in your crypto wallet.

In some situations, crypto betting sites have a crypto exchange and a wallet of their own. However, we recommend avoiding buying crypto on a sports betting site directly, as the rates are quite high, and the wallets are not that safe. Of course, if you are going to use small amounts, it is completely fine, but if you are a high-roller, use your own crypto wallet and a more known crypto exchange.

3. Make a deposit

After you picked a site where you are going to do sports betting, and you have some crypto in your account, you can freely make an account on your site, and while you are making a deposit, just choose to make one with the crypto you have acquired instead of the traditional fiat currency options. Once you have some crypto on your account, you will be able to use all of the services that the crypto sports betting site offers.

4. Keep an eye on crypto value while betting

While most people are used to betting with fiat currency such as USD or Euro, you should be careful when betting with crypto. Not only because their value changes every day but also because you could be betting more than you might think. This is especially the case with Bitcoin sportsbooks, as even a fraction of a Bitcoin can be thousands of dollars. So make sure you watch those decimals when you are making bets!

How to withdraw your money?

If you would like to withdraw some of your crypto onto your crypto wallet, all you have to do is go to the cashier page of the site you are using and pick withdraw as you usually would. When it asks you if you would like to withdraw your crypto, it will also ask you for your crypto wallet address. This address can be acquired from your crypto wallet page. It is usually noted which one is for you to give out coins and which one is to receive coins. Once you type in the address meant for receiving crypto, just press confirm, and your wallet should receive the crypto soon enough.

What sports can you bet on with crypto?

Traditional sports betting with crypto has been around the longest, which is why there is a big number of options. Of course, the options may differ from site to site, but if there is a betting interest in a sport, you will probably find a site that has some wagers for it.

When it comes to cryptocurrency sports betting, there is not much of a difference, as you will have all the regular options. This means you will be able to bet on sports like basketball, soccer, American football, golf, table tennis, hockey, rugby, handball, volleyball, and many other sports all the time.

crypto sports betting

Sports betting site Sportsbet.io

Just like with regular sports betting, some crypto sports betting sites will feature special events for additional betting options. When we say special events, we think of things like the Olympics, where you can bet on various sports with additional wagers that would usually not be featured on the site. Special events can sometimes also bring non-sport events, like Eurovision, the European singing contest which is held annually.

One variant of crypto sports betting that is getting more popular is to bet on virtual sports, which are also known as fantasy sports. This is basically a sport that is played in a virtual environment by a machine, and while you will not be able to see the match played out live, you will be able to see the statistics that each team has and the players that play for those teams. It is a new interesting take on sports, and while it is not available on all sports betting sites, it is slowly getting there.

What esports can you bet on with crypto?

While sports betting is still one of the most popular ways to make a bet, esports is slowly becoming more accepted in the betting industry. It is actually quite a surprise to see how far esports has come, as certain betting sites offer to bet on all the big esport titles such as League of Legends, Dota 2, Call of Duty, Rainbow Six, CS: GO, Hearthstone, and many others.

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Esports betting with Thunderpick

Traditional sports betting usually has a lot of wager options when it comes to certain sports, like soccer, but with esports, this is the case for most games, which is why betting on them is more exciting. Some of the wagers have really good odds because the chances of a certain thing happening in a competitive match are extremely low. A good example of this is if you bet on League of Legends that a player is going to get a pentakill, where the payout is going to be as big as twenty times the betting amount.

Like with traditional sports betting, there are special events where certain games will get more attention than they usually have. Since esport events are more common than traditional sports, this gives more options to betting enthusiasts to explore. Usually, every big convention, such as IEM, Gamescon, Twitchcon, Dreamhack, and many other ones, will have various titles featured on their main stage.

Can you play casino games with crypto as well?

When it comes to betting, there is no better way to bet than having some power over the bets you are making instead of relying on the players to get the outcome you are looking for. We are, of course, talking about crypto casino gambling, where you can make bets in all kinds of casino games. Casino gambling with crypto became so popular that you will often find a lot of sports betting sites have all kinds of casino games too, where you can gamble while you are watching the sport or esport your bet on another screen.

The most popular game that you will be able to find on most crypto casino sites is slot machines. While these are not really skill-based, as you are just pulling a level and waiting for something interesting to happen, they are very entertaining. There are thousands of different slots games with their own rules and bonuses, and trying out a few different ones might give you a different experience.

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Live Casino Games at Bitcasino.io

Other than slots, crypto sports betting sites have various casino games at their disposal. From card games like poker, blackjack, baccarat, and hi-low to other games a casino cannot go without, like roulette, scraps, and various wheel games.

What makes gambling in online casinos fun is that for most games, besides slot machines, you can choose whether you would like to play a virtual version or the one with a live dealer. The live dealer casino games are becoming more popular, as they feel much better to play than the virtual ones since there is a human element, and players do not feel cheated when they lose, and they feel much better when they win. Most sites that offer live casino games have different dealers for the same game, as they will speak to the players in their native language. It is not uncommon to have a live dealer that speaks Hindi, Japanese, Korean, German, or French.

What are the best crypto betting sites?

With the popularity of crypto betting increasing, there are quite a lot of sites that would like to snatch up as many new users as possible. Some of these are very good, but most of them are in it for a short run, just to grab a quick buck from those who have decided to give crypto betting a try. Because of that, we decided to share a few interesting sites that you should check out.

Sportsbet

Sportsbet.io is one of the best places to go if you want to bet on sports or esports, as they have everything you are looking for.  Not only that they accept Bitcoin, but they also accept many other types of crypto, which makes this site amazing.

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Thunderpick

Just like the previous mention, at Thunderpick you will be able to find sports, esports, and casino betting options. The options are more or less the same, with a few exceptions here and there. Just like Sportsbet, you can bet with various cryptocurrencies, with some being more favoured than others on the site, like Cardano.

Cloudbet

If you are looking to explore what the betting sites have in store without investing too much into your betting experience, then Cloudbet is a good place to start things off.

They have a little bit of everything, and while they do not have any exclusive betting options when it comes to sports, esports, and casino games, the number of options they have is still quite impressive.