Are you planning to use Bitcoin to fund your sports wagers this year? Read our guide and learn how to use Bitcoin for sports betting, including the details of the top Bitcoin sports betting sites and how to access competitive odds.
Sports betting is popular worldwide, with markets for sports including soccer, tennis, golf, esports, and numerous others. Thanks to the evolution of Web3 in recent times, crypto sports betting has proliferated, enabling you to sign up for sports betting sites before depositing Bitcoin or Bitcoin Cash to fund your wagers.
But how do you fund sports betting with your crypto wallet? How do you complete Bitcoin transactions at online sportsbooks? Join us as we explain everything you need to know in our simple guide to using Bitcoin and Bitcoin Cash for online sports betting.
Key Takeaways
- You can use Bitcoin and other cryptocurrencies to bet online at EVO.io and other sportsbooks.
- To fund your wagers, you must create a Bitcoin wallet, buy crypto, and transfer the coins to your sportsbook.
- Bitcoin gambling has many benefits, including faster payments, increased anonymity, and enhanced security.
- For successful crypto betting, research, bet responsibly, and use bonuses and promotions to top up your balance.
How to Use Bitcoin For Sports Betting?
Whether you’re familiar with crypto or a new user, Bitcoin sports betting is easy enough to grasp. The premise is the same as betting with fiat currencies – you choose a sportsbook, check the odds, make a deposit, and place your bets. But there are a few additional steps required at crypto sports betting sites, as detailed below:
#1 Set up a Crypto Wallet
The first step is to create a Bitcoin wallet. There are several ways to do this, and you can choose hot or cold wallets and options that can store numerous coins, including Bitcoin, Ethereum, Litecoin, and several others.
To set up a wallet, head to a reliable platform like Binance or Coinbase. The sign-up process is simple and can usually be completed in seconds.
#2 Buy Bitcoin
With your wallet live, buying Bitcoin or any other cryptocurrency you want to bet with is time. Remember, cryptocurrency is volatile, and its price changes frequently. So, check the current market price and ensure that you’re buying Bitcoin at a good time.
The easiest way to buy Bitcoin is to use the same exchange you used for your wallet, with Binance and Coinbase as good options. You can then store the Bitcoin in your wallet until it’s time to transfer it to the sports betting platform.
#3 Choose a Bitcoin-Friendly Betting Site For Casino Games
The next step is to research the Bitcoin sports betting industry and decide where to create an account. EVO.io is one of the world’s most exciting crypto sports betting sites, with a vast selection of markets, competitive odds, and numerous cryptocurrencies supported.
You can sign up by providing your details and following any prompts after clicking the ‘Sign Up’ or ‘Register’ button. If your details are accurate, you can complete the registration steps in minutes.
#4 Deposit Crypto
After setting up your crypto sports betting account, you must deposit Bitcoin to fund your wagers. Before this, head to the promotions page at the betting platform to see if you can access a welcome bonus with your initial Bitcoin deposit. The welcome bonus might be a deposit match or a free bet to use on specific sports.
To deposit crypto from your wallet, enter the sportsbook’s address into your wallet and specify how much you would like to add. Then, complete the transaction and check the funds have arrived.
#5 Research and Bet
You’re now all set for crypto gambling online. But first, research the sports, teams, leagues, and players you want to bet on. Consider form and injuries and analyze statistics before committing to a wager.
When you’re confident of your selection, navigate to the relevant section on the sports betting site, input your wager amount, and place your bet.
#6 Withdraw Funds
If your wager is successful and you win your bet, wait for the funds to reflect in your account. You can then request a withdrawal to your crypto wallet. Most withdrawals are processed instantly without fees, but you should check the terms before processing.
Alternatively, you can leave the funds for future sports wagers in your account. Or, if the crypto betting site has casino games, you can spin the reels on slots or play table games with your sports winnings.
Benefits of Using Bitcoin for Sports Betting
Why should you use cryptocurrency at a sports betting site instead of fiat currency? Here are some of the benefits of Bitcoin sports betting platforms and what you can expect when you participate in crypto gambling:
Speed and Convenience
One of the main benefits of Bitcoin transactions for online gambling is the speed and convenience. All Bitcoin deposits are processed instantly when you enter the relevant wallet details.
You don’t need to rely on a third-party payment processor to facilitate the transaction, which adds security and reduces the fees. Ultimately, the speed and convenience of crypto make it a much more attractive option than using fiat currency for online sports betting.
Enhanced Privacy and Security
With crypto betting, you don’t need to provide your financial details to the sportsbook. To bet, you only need to transfer funds from your crypto wallet to the betting platform, and you’re all set.
This significantly improves privacy and security, as you don’t have to part with sensitive information that could be hacked or sold. Crypto also provides greater anonymity than fiat currency gambling, helping protect your identity further when betting online.
Lower Transaction Fees
Compared to traditional payment methods, mainly bank transfers, Bitcoin transactions have significantly lower fees. Most crypto betting sites don’t charge fees for processing deposits or withdrawals, offering great value online betting.
Global Accessibility
Geo-restrictions do not constrain crypto gambling, and you can bet with Bitcoin in many countries worldwide. This enables worldwide access to sports betting markets and means you don’t need to buy a specific fiat currency, such as USD, to bet on a particular site.
Tips for Successful Bitcoin Sports Betting
If you’re about to sign up for a crypto betting site, here are some handy tips to bear in mind to get the most out of your experience and improve your winning chances:
- Research and analysis: It is crucial to conduct independent research into the teams, leagues, and players that you bet on. Consider form, performances, and injuries before making your selection so you can be confident of betting on a winning team.
- Bankroll management: When you bet with crypto, you must gamble responsibly. This means managing your bankroll, adjusting your stake, and only betting what you can afford to lose.
- Staying informed: The most successful Bitcoin bettors are informed, recognizing the evolving landscape of online betting. So, keep up to date, follow social media sites for your research, and check for the latest news and trends before placing your bets.
- Using promotions and bonuses: After accessing a welcome bonus as a new customer, regularly check the promotions tab for the latest ongoing offers for sports bettors. This is the best way to access a bankroll boost while betting online. If you bet regularly, you might also benefit from the sportsbook’s VIP Club for enhanced rewards.
Bet with Bitcoin Today at EVO.io
EVO.io is one of the world’s leading crypto sports betting sites. It offers many markets, excellent odds, ongoing promotions, and fast and secure payments. We also offer hundreds of online casino games.
If you’re ready to bet on soccer, tennis, golf, cricket, or any other sport with Bitcoin, create an account at EVO.io today, link your crypto wallet, and add funds to place your bets.
Please remember to manage your bankroll to ensure responsible gambling and never wager more than you can afford to lose.
Frequently Asked Questions
Can you Bet on Sports with Bitcoin?
Yes, you can bet on sports with Bitcoin when you sign up for a crypto gambling site like EVO.io. We support deposits in numerous cryptocurrencies, including Bitcoin, enabling you to bet on your favorite sports and teams with the crypto of your choice. To bet with Bitcoin, add funds to your wallet, create a sportsbook account, and send the funds instantly.
Can Bitcoin be Used for Gambling?
Yes, Bitcoin can be used for all types of online gambling, though there are some geo-restrictions, depending on where you live. EVO.io is one of Asia’s premier crypto betting platforms, offering extensive sports betting options and great odds. You can create an account today and deposit Bitcoin to gamble at EVO.io.
Does EVO.io accept Bitcoin?
Yes, EVO.io accepts Bitcoin and Bitcoin Cash. We also accept numerous other cryptocurrencies, including major coins like Ethereum and Litecoin.
