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Betting on the internet is one of the exciting and most lucrative ways to get a share of the action while still enjoying the thrill of winning big. Selecting the right bookmaker will also help you enjoy your online gambling journey. Once you decide to start your online betting journey, you may be considering Bitcoin as your main deposit option. In this case, you’ll need to find reputable Bitcoin bookmakers, and fortunately for you, there are lots of options to choose from.
Many of the leading online sports betting platforms have already seen the benefits and value of Bitcoin, and they have integrated it as one of their primary deposit or withdrawal methods. In fact, they have not only accepted it but also made it a big part of the gambling business. As a result of the growing interest and popularity in Bitcoin, many betting websites have ensured that their services are Bitcoin-friendly.
Most of these sports betting sites offer generous welcome packages and other incentives to motivate gamblers to use this cryptocurrency instead of other banking options. Bitcoin betting benefits both the punter and the bookmaker. So if you are looking to bet using Bitcoin, you have just arrived in the right place. Continue reading to know what is Bitcoin betting, the advantages of Bitcoin Betting, how to bet on sports with Bitcoin, and much more.
What is Bitcoin Betting?
If you have heard about Bitcoin betting, then you’re not alone. Bitcoin is simply a virtual currency that casino players can use to place wagers on their favourite online gambling platforms. You will use your digital coins to wager on the outcomes of certain sports fixtures, with all outcomes providing different odds.
As a player, you have the freedom to select the sport that you want to place bets on and what specifically you need to wager on. The options for Bitcoin betting are varied, meaning you have lots of decisions to make.
The Benefits of Bitcoin Betting
There are many reasons why Bitcoin betting is better. The main benefits include anonymity, a wide range of betting choices, low fees, and almost instant withdrawals and deposits, among others. Below are more details about the benefits of betting with Bitcoin.
Anonymity
You do not need to provide your actual name, phone number, home address, passport/ID, or credit card number to request a withdrawal. At most Bitcoin gambling websites, you only need an active email and a Bitcoin address to make your deposit or withdraw your funds.
However, there are a few Bitcoin bookmakers that still need KYC for withdrawals. This can mean providing your passport or ID to your casino even though you’re using Bitcoin. Before you can join any gambling site, be sure to check about this in the payment terms and conditions.
Almost Instant Deposits and Withdrawals
When gambling with Bitcoin, speed is a key factor. Once you have purchased your Bitcoin units and they are in your cryptocurrency wallet, depositing in your bookmaker account is faster than with other banking methods. Additionally, withdrawal requests are processed in minutes. Instead of waiting for several days for your cash to reflect into your account, use Bitcoin to enjoy lightning-fast transactions.
With Bitcoin, you’ll see all of your transactions processed in a few minutes. However, this can vary based on the number of transactions or load on the Bitcoin network and from one operator to another. Despite this, Bitcoin is almost always faster than other payment options.
Attractive Welcome Bonuses at Bitcoin Betting Platforms
Many Bitcoin gambling platforms have big deposit offers that you cannot find on regular online betting websites. In most cases, many sites offer a first deposit bonus of up to 5 BTC. And the best thing is that players can use the bonus on any games available at their favourite online casinos.
Aside from Bitcoin welcome bonuses, you will also find lots of other ongoing promotions as well as VIP rewards. To enjoy all these offers, you only need to use Bitcoin when placing your bets.
Reliability
Another benefit that Bitcoin offers when it comes to betting is that it is reliable. Sometimes, you will find it difficult to deposit funds into your bookmaker account when using the traditional payment options. But Bitcoin just works excellently, making it reliable and easy to use.
If you are tired of failed or declined transactions when you are trying to deposit funds into your account, you will not deal with that when you switch to BTC. Virtual currencies like Bitcoin remove the barrier of third-party processors, allowing you to make deposits into your account quickly and seamlessly. As cryptocurrency becomes more popular and even the only option available at some sites, you will need to switch so that you can keep gambling reliably.
Innovative Betting Options
Bitcoin sportsbooks also offer unique wagering options like mutual betting. To many players, this is a new term. Mutual betting means that all wagers on the same sport or event are placed as a pool. Bitcoin gambling bookmakers calculate the payout by sharing the pool with all other winning wagers. So there’re no fixed odds, and you’re playing against other gamblers.
Aside from innovative betting options, players will also enjoy competitive odds. The odds at Bitcoin betting sites are usually excellent and very competitive compared to regular betting websites. Also, you can create several accounts at different Bitcoin gambling websites and choose the best odds for specific games.
Low Fees
If you are sick of credit card or traditional banking fees, then you should try out Bitcoin. The nature or structure of Bitcoin means that you do not have to pay any third-parties. Instead, you will only pay the minor’s fee.
Blockchain confirms all transactions on public ledgers, and the nodes within the network authenticate the digital coins moving around. This consumes a lot of computer power, and the individuals who keep the entire Bitcoin network functioning are the miners.
So a small portion of each Bitcoin transaction is given to the miners, which is the miner’s fee. Your bookmaker will deduct the small fee from your winnings when you are withdrawing your funds. The fee is minimal and significantly less compared to that of other currencies.
How to Bet On Sports with Bitcoin
When it comes to placing bets with Bitcoin, everything is simple and straightforward. You only need to sign-up with your favourite sportsbook and fund your account with Bitcoin either through a QR code or direct transfer. Select your sport, the type of bet, and then fill your betting slip. Wait until the results are out and then trigger a withdrawal request. Sometimes you can place live bets, which allow you to change your wagers throughout the game.
Final Thoughts
Using Bitcoin in sports betting provides you with a great range of control when placing your bets. Additionally, you will enjoy state-of-the-art software since most Bitcoin betting sites use the latest technology. The security measures available also mean that your funds are well-protected, and you’re able to stay anonymous.
With all these benefits, you can see why Bitcoin bookmakers are always a perfect banking option for any gambler. So look for a recommended betting site and join to enjoy all the benefits that Bitcoin offers.
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