Bitcoin Sports Betting – Guide

Placing Sports Bets On The Internet With Bitcoins

The digital currency Bitcoin has some features that also make it interesting for sports betting. Deposits and withdrawals can be processed within a few moments and are more or less anonymous. Therefore, no personal information is required to register with a Bitcoin bookmaker. It is currently not clear whether the cryptocurrency will actually prevail in the long term, but there are already some bookmakers who accept Bitcoins as a means of payment. But what makes Bitcoin so special for sports betting and who are the best Bitcoin bookmakers?

What Are Bitcoins Anyway?

Bitcoins is a pure online currency which cannot be compared with other currencies. Since the currency is already used by many people on the Internet, the sports betting industry has also become aware of it. Although the digital currency is not yet standard among online bookmakers, it is still worth taking a closer look at what is on offer. Sports weather should be aware that bitcoins can only be used on the Internet and are not a valid means of payment in the real world. Transactions with bitcoins are executed quickly and cannot be revoked afterwards. The payment will be confirmed within shortest time. The idea of a virtual currency has been around for a very long time, but bitcoins have only been on the market for a few years.

Bitcoin For Sports Betting

Transaction costs at Bitcoins are very low, so some bookmakers offer a 20 percent bonus when the betting account is loaded with the digital currency. This applies not only to the initial deposit, but to all account charges. Another advantage is that the currency can be used by all customers worldwide. To bet with Bitcoins you must first exchange real money at one of the many Bitcoin exchanges. Bitcoin bookmakers are no different from classic sports betting providers as you can see on

Bitcoin Enable Anonymous Sports Betting

Bitcoin Bookmakers offer some advantages to their customers. This includes in particular that sports weather remains completely anonymous. Betting providers who accept Bitcoin as currency only require their customers to provide an e-mail address. But even this is not absolutely necessary for many bookies. In addition, it is quite easy to create an e-mail address just for this purpose. Anonymous account openings are always possible if payments are made exclusively with Bitcoins. The deposited amount is immediately available so that the first bets can be placed directly. Since the accounts are kept anonymous, they cannot be blocked by the bookmaker. After evaluation of the bet, the prize goes immediately to the player. Even if the distribution of profits is quite large, neither the limit is exceeded nor the account is blocked.

What Are The Advantages Of Deposits And Withdrawals With Bitcoin?

Due to the way Bitcoins works, payments are processed quickly and securely by the bookmaker. The necessary infrastructure is provided completely by the Bitcoin system, so that no additional transaction costs arise. The flexible payment system also makes it possible to transfer money from one bookmaker to another. In addition, the credit can easily be sent to friends. It is even possible to transfer to other customer accounts with another betting provider.

Are There Any Disadvantages With Bitcoin Bookmakers?

Bitcoin Betting – PaymentsWas the digital currency able to score with some advantages, but also the disadvantages should not be ignored. Since Bitcoins has only been around for a short time, we do not yet have many years of experience. However, this was also the case with online bookmakers at the beginning. Here, too, customers first had to make their experiences. Bitcoin bookmakers are new to the market and do not usually have a European license. This increases the risk that the betting provider goes bankrupt due to insufficient income. As advantageous as anonymity is, it also ensures that there are no minimum standards and legal regulations.

Due to the fast payment processing, however, no large amounts have to be deposited into the betting account. If required, the credit can be increased within a few moments. Although the acceptance of bitcoins is increasing, the currency cannot be used everywhere. Bitcoin bookmakers can therefore not yet be compared with classic betting providers. This applies in particular to betting limits. It is not possible to bet large amounts on a bet with Bitcoin. As a rule, the limits are between 1.50 and five bitcoins, which corresponds to approximately EUR 350 to 1,200. Another topic is the partly strongly fluctuating Bitcoin share price. This creates additional opportunities for Bitcoin betting, however, also means a certain risk.

What Can I Expect From Bitcoin Betting In The Future?

As statistics show, around 50 percent of Bitcoin payments are made in the area of sports betting and online casinos. This shows that the number of bookmakers using Bitcoins has increased in recent years. Especially in the USA, the number of Bitcoin gambling providers is increasing strongly. This is primarily due to the fact that gambling is only permitted in the states of Nevada, Delaware and New Jersey in the USA.

Due to the anonymity of Bitcoin bets these are therefore a very popular alternative. Transactions in Bitcoin cannot be controlled by the competent authorities. a Bitcoins, however, are not transferred but paid to websites, this process is not traceable. Since payment is immediate and irreversible, bookmakers also benefit. The digital currency has revolutionized the gambling market in the USA. There is no end in sight to this trend. In this country, the virtual currency is even more unknown and the market is therefore very manageable. Nevertheless also German sports weather find meanwhile some offerers with whom in Bitcoin can be deposited.

The Best Bitcoin Bookmakers

The betting provider Cloudbet has been on the market since 2013 and was one of the first real Bitcoin bookmakers in this country. The betting offer is surprisingly extensive for a more exotic bookmaker. Football fans can bet on all major leagues worldwide. In Germany partly even up to the upper league. Basketball, tennis and ice hockey are also good options. The number of betting markets on offer is good, although not as large as the best bookmakers. New customers receive a bonus of up to 5 BTC. The quotas at Cloudbet are also impressive and are above the 93 percent mark. For friends of the digital currency, Cloudbet is currently the number 1 in sports betting. Casino friends also get their money’s worth at Cloudbet. In addition to a large selection of table games and slot machines, you will also find a well-made live casino.