Today, we will discuss the advantages and disadvantages of placing sports bets through cryptocurrencies. There are also many payment options to carry them out, among which cryptocurrencies stand out. So it is necessary to know how to bet with them and what advantages they provide. This way, it is possible to obtain great benefits when claiming the prizes.
The great popularity of cryptocurrencies has long allowed investing in various markets. So sports betting must be included. Therefore, we invite you to continue reading more about this world. We will show you the steps you must follow to place your bets.
How to bet with cryptocurrencies
Betting with cryptocurrencies seems more complicated than the process since you require few steps to earn money with the cryptocurrency of your choice. Therefore, we will show you the procedure you must follow to contribute to sports with your crypto assets.
- Select a sportsbook: Search for sportsbooks that allow you to make cryptocurrency deposits and sign up.
- Configure your wallet: If you do not have a wallet, register on the portal of your choice and verify your data. Also, explore the options it offers you to acquire cryptocurrencies.
- Buy the currency in your exchange: Select a specific cryptocurrency, such as Bitcoin and acquire it with fiat money or by other means. Remember that there are many ways to pay for your crypto assets.
- Transfer the crypto assets to your wallet: If you buy cryptos in an Exchange, transfer the amount purchased to your wallet. Since, in this way, it will be easier to deposit the funds.
- Deposit funds in the betting house: Once you have the money in your wallet, go to the “Send” section. At that time, attach the shipping address provided by your bookmaker for the selected cryptocurrency. Also, enter the amount you want to transfer and confirm the operation.
- Make your bet: In the bookmaker, select the sport you prefer, and indicate your predictions and bet.
Sports betting sites that accept cryptocurrencies
Next, we will present you with a small list of portals that accept cryptocurrencies to place your sports bets. This way, you can compare their platforms and select the most suitable one.
1xBit: In this portal, you can place sports bets using Bitcoin and other cryptocurrencies. In addition, they offer stable cryptocurrency welcome bonuses for new users.
22Bet: This portal has more than 200 means of payment with which you can withdraw your winnings. Also, its mobile app is straightforward to use, and the customer service is excellent.
Bet365: In this case, this platform is very versatile and allows you to place sports bets and play in your casino. Likewise, it has multiple payment methods, which allow you to bet with crypto assets.
Betsson: This platform offers high limits for the withdrawal of your winnings. Also, withdrawals of your winnings are deposited instantly. On the other hand, Betsson has an excellent professional reputation.
CloudBet: This portal has a minimum deposit of 0.0001 BTC and accepts more than 100 cryptocurrencies. Its interface allows you to make sports bets and have fun in casino games.
Stake: On this platform, you can place your bets with Bitcoin and Ethereum.
Advantages and disadvantages of gambling with cryptocurrencies
In this section, we will show you some benefits that you can find when gambling with cryptocurrencies. Likewise, we will talk about the disadvantages that may arise in some instances. This way, you will have a broad perspective of what betting with these more modern methods entails.
- Withdrawal limits are very high.
- The platforms offer better bonuses when investing in crypto assets.
- The portals promote betting with cryptocurrencies with constant promotions.
- Transactions are usually instantaneous and are very secure.
- The minimum deposit is usually high.
- You must know how to send and receive cryptocurrencies.
- You should only use the cryptocurrencies that the platform accepts.