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Crypto Betting | What Top Option Do You Have In 2022?

Crypto betting is fast gaining traction across the globe. Today, dozens of bookmakers accept different types of cryptocurrencies. But is it legal to gamble with Cryptocurrency?

This write-up shows you how to bet on Cryptocurrency, tips for finding the best crypto betting odds, and how to bet with Cryptocurrency. Therefore, if you are interested in crypto sports betting, we have the best crypto betting tips for you even for crypto CSGO betting. Read on for more insights.

The best bookmakers to bet with crypto available for 18 May 2022

Rank
Bookmaker
Bonus
Accepting Crypto
Rating
Get Started
1
Exclusive Up to 13% Rakeback
Yes
Rating 9.93 out of 10
2
Exclusive 10% Rakeback
Yes
Rating 9.99 out of 10
3
100% up to €122
Yes
Rating 9.90 out of 10
4
100% up to €100
Yes
Rating 9.80 out of 10
5
100% up to €500
Yes
Rating 9.65 out of 10
6
$50 Risk Free Bet
Yes
Rating 9.64 out of 10
7
100% up to €100
Yes
Rating 9.35 out of 10
8
100% up to €100
Yes
Rating 9.30 out of 10
9
100% up to €100
Yes
Rating 9.27 out of 10
10
100% up to €100
Yes
Rating 9.23 out of 10

What is crypto betting, and how does it start?📖

Crypto is a digital currency that has taken the world by storm, and it has the potential to replace the current transaction methods. Ideally, cryptocurrencies allow you to pay for services and products and receive payments for various things. The history behind crypto is, however, very short. But it has some significant signposts and events. The most popular crypto is Bitcoin.

This digital currency dates back to the 1980s, and it has established a relationship with sports betting and iGaming. Today, 50% of Bitcoin transactions are related to gambling. But when did crypto sports betting and gaming start? While the exact date is unknown, cryptocurrency betting is a recent development. The digital currency was mainly used to access betting markets in jurisdictions where gambling was prohibited, for instance, Asian bookies markets.

‍⚖️Terms and conditions for sites where you can bet in crypto

Betting with crypto offers an anonymous way of placing bets on different sites. Thus,  anonymous crypto betting is the best way to go if you love anonymity. It is worth noting that terms of use of crypto vary from one sports betting website to another. Also, each crypto has its terms of use. Most betting sites accept Bitcoin. However, others will take additional cryptocurrencies such as Ethereum, Dogecoin, Litecoin, Bitcoin Cash, and Ethereum Classic. 

Crypto transaction charges 🧾

Cryptocurrencies are known to have a low fee transaction fee. The fee is associated with the amount you send from your wallet account to your sports betting or iGaming account. Usually, the transaction fee is recorded in the blockchain, and it varies from coin to coin and is determined by several factors. Typically, most transactions below $10000have a fee of about 0.5%, and these charges decrease as the amount increases. These charges also apply when exchanging the coins. Some coins have lower charges. For instance, Litecoin’s fee is $0.042; Bitcoin Cash’s fee is $0.0025, while DOGE has a transaction charge of $0.242.

Crypto legal issues 👨‍⚖️

Cryptocurrencies do not have a regulatory framework and public oversight. That implies that the currency has a serious legal threat in liquidity, fraud, credit, operational risk, and solvency. However, the views on cryptocurrencies are evolving. The IRS defines cryptocurrencies as property instead of currency in the US. This implies that individual investors are subject to capital gains tax law about reporting cryptocurrency expenses and profits on their yearly tax returns, regardless of where they purchased the digital coin. 

Crypto availability 🙋

The availability of Cryptocurrency depends on its popularity. The most available Cryptocurrency is Bitcoin. However, different factors determine its availability. Ethereum, Dogecoin, Litecoin, Bitcoin Cash, and Cardano (ADA) are other common cryptocurrencies.

How to use crypto at betting sites? Stay tuned, is easy! 💪

Sports betting with crypto are pretty straightforward. The most important thing to have is the Cryptocurrency itself. That means you must decide on the type of coin to use based on what your sports betting site accepts. To create a crypto wallet on any site offering Cryptocurrency, and then buy the coin. After buying the coin, send it to your betting account on your favorite crypto sports betting platform. The process is incredibly faster, safe, and comes with a high level of anonymity, but for more, you can read our article about safe betting sites.

This makes it an ideal option for depositing money on betting sites, especially in regions where betting is illegal as they do not have restrictions. A crypto owner becomes part of the blockchain. All future transactions are recorded on the ledger. You store your Cryptocurrency in a crypto-compatible wallet online, on your mobile, or on a PC. It is from the wallet that sends your crypto betting cash to a betting site. Also, if it is time to withdraw your winnings from a crypto betting app or website, you need to type the wallet’s address. This also applies when depositing cryptos to a betting or gambling site. Good thing; you have a wide range of sports betting crypto tokens.

Top 5 cryptocurrencies used in the betting industry 👌

At the moment, cryptocurrencies are dominating the online betting scene. Many betting firms have embraced digital currency for various reasons, including anonymous gameplay and high-level security. The majority of betting sites accept one or more forms of cryptocurrencies. This makes it easier for crypto enthusiasts to place bets with much ease. A crypto sportsbook allows punters to deposit digital coins into their betting accounts. The most common digital currencies are:

Bitcoin

Bitcoin was the first crypto to be invented, and that’s why it enjoys the highest level of popularity worldwide. The entire blockchain idea was designed for Bitcoin, and over time it has evolved to beat the controversies. Today, Bitcoin accounts for more than 80% of cryptocurrencies used across the different industries. Between 2018 and 2019, Bitcoin witnessed a massive growth in the number of casinos using it.

The growth is attributed to its advantages in gambling and betting and an increased number of people learning about it. While it was initially viewed as an investment tool, its features such as anonymity and online privacy appeal to many people. To bet with Bitcoin, register on a casino site that accepts Bitcoin. Keep in mind there are several Bitcoin bookmakers and betting sites; you only need to check that other factors appeal to you. 

Ethereum (ETH) Ξ

Ethereum betting is fast gaining popularity. This digital coin is the second in popularity after Bitcoin; however, it beats Bitcoin hands down regarding functionality. Just like Ripple, Ethereum has stayed free of scandals, making it one of the most viable options for people sending and receiving online payments. Ethereum has a smart contract, which allows users to conduct safe deals. Typically, it acts as a medium of holding funds until all conditions are met. Such a feature guarantees fairness. Ethereum betting began around 2015, and several bookmakers ad betting sites are steadily accepting it.

Litecoin Ł

Litecoin closely resembles Bitcoin, hence the name Bitcoin kid. However, it has a much higher maximum cap and, therefore, lower price, One of its strengths is that it offers confirmation of the transactions. Besides, its transaction time is four times faster than Bitcoin. Ideally, Litecoin was designed to ease the process of registration, which was much tedious in Bitcoin.

Again, compared to Bitcoin, the processing fee that nodes charge is much less in Litecoin than in Bitcoin. Litecoin was born in 2015 as a fork of Bitcoin, and currently, its market capitalization stands at $2.6 billion. This means it has a firm foothold on the market. Its smaller block generation time and higher coins are highly promising to the gambling fraternity.

Dogecoin 🐕

Dogecoin betting may not be as popular as Bitcoin or Litecoin betting, but it is fast accepted by the betting community worldwide. Dogecoin was launched in 2013 as a joke. This digital currency is based on Litecoin, a fork of Bitcoin. Like other cryptocurrencies, DOGE uses blockchain technology to record all Doge transactions. It uses the Scrypt algorithm to enable the dogecoin mining and validation process, allowing miners to create new books. Further, the script allows the blockchain to process transactions faster, and lets miners rely on less energy-intensive hardware. 

Each block generated has 10,000 DOGE, and blocks are generated each minute. This generation speed is ten times the speed of generation of Bitcoin (generates one block every 10 minutes). The advantage of having a much shorter block generation time is that you can easily prevent double-spending attacks because there is only a one-minute time frame in which an attacker can seize the network’s vulnerability. 

Bitcoin Cash (BCH) 💰

Bitcoin Cash was created to increase the size of the block and make transactions faster, which was a challenge in Bitcoin. Remember, in Bitcoin, the node size is small, limiting the number of transactions per second. Due to this challenge, the community wanted a much faster alternative; thus, the birth of Bitcoin Cash. Bitcoin Cash has a much lower value than Bitcoin but is still a worthy cryptocurrency for online punters. Today, most online casinos accept it as a mode of payment.

Top 4 sports to bet with crypto in 2022

Most legal betting sites embrace cryptos as an alternative to traditional cash or FIAT currency when it comes to online transactions. Currently, most online bookies are accepting the popular types of cryptocurrencies. Some sportsbooks offer rewards and bonuses if you transact via cryptos. For instance, you can receive a Bitcoin sports welcome bonus if you use Bitcoin. 

That said, what sports can you bet using Cryptos?✌️

Well, that depends on the sportsbook. But generally, most bookmakers offer popular games explained below: 

Football

Nearly all bookmakers offer football betting markets. Do you want to know how to make money betting on crypto? Try crypto football betting! Football is a popular sport and is very easy to understand. Besides, its betting markets are pretty straightforward. Above all, there are several football leagues played throughout the year worldwide. This implies that you get an opportunity to place a bet every day with crypto football betting. However, ensure that you bet on only safe betting sites.

Tennis 🎾

Tennis is a major sport, with enormous hype about each year’s different tournaments. Some tournaments are highly rewarding than others; thus, their prices are much higher. This explains why some tennis players are among the wealthiest athletes. These features make tennis a lucrative sport to wager on. If you are on a betting site that accepts cryptos definitely, tennis crypto betting is the easiest and safest way to place your bets. But if you’re new to crypto betting, find some helpful crypto betting tips first. 

Horse racing🏇

Horse racing is standard in Europe, especially in the UK; therefore, you will mostly find it on international betting sites. Most international bookies accept cryptos, making crypto horse betting possible. Ideally, Bitcoin is the commonest crypto accepted, and the Bitcoin betting the UK offers is highly secure, reliable, and faster.

Esports 🎮

Esports betting, unlike traditional sports, features different games, and these games change more frequently. There are different categories of esports, including:

  • Player vs. Player (PvP)
  • Real-time Strategy (RTS)
  • First Person Shooter (FPS)
  • Multiplayer Online Battle Arena (MOBA)

📝NOTE: Gambling sites offering esports such as CSGO accept Cryptos. Therefore, if you are a fan of csgo, Csgo bitcoin betting is just a click away. It is worth noting that Crypto esports betting is similar across all websites. What may vary is the type of esport game offered.

Elections 🗳️

Elections are not sports, but many people place a wager on the outcome of election wagers. Today, in the world of Crypto betting the election is a significant partaker. You can use your cryptocurrencies to wager on a person you feel will win an election. 

Other sports betting guides recommended by Gambling Judge:

📅Last update: 18 May 2022

Why is crypto a good idea in the betting industry?🤑

Cryptocurrencies are common in the betting sector today, thanks to the multiple benefits it offers. These benefits include:

Further Information

No Deposit Fees. Cryptos are not regulated by third parties or a centralized banking institution. Therefore, players will not be charged deposit fees associated with these third parties. This lack of interference also allows sportsbooks to pass incentives and extra savings to the gamblers. 

More efficient betting. Digital currencies are more efficient and reliable. Talk of zero transaction fees, faster processing time, and lack of transaction limits, withdrawal minimums, and minimum deposit amounts. Enhancing transaction efficiency makes placing wagers more lucrative. 

Player anonymity. With cryptos, you can gamble in an environment that prohibits or limits betting and gambling activities. Cryptos eliminate the demand for creating accounts; thus, players do not divulge personal information. 

Security. With digital coins, you get to enjoy a secure and safe online betting experience. Unlike traditional methods where you will provide your banking details, you only need to provide your wallet address. 

Fast payment processing. Credit/debit cards have a long process of depositing and withdrawing funds, unlike digital currencies, processing payments within minutes. This makes it a suitable option for gamblers and sports bettors.

🎁Crypto betting sports bonuses

Cryptocurrency betting comes with some bonuses that will boost your bankroll and enable you to win more cash. Take a look:

Tip

Sign-up Crypto Bonus

🛍️You will receive the sign-up free bets or a bonus after signing up for a new account and then depositing a specified amount of crypto into your sports betting account. Most bookies offer 100%, while a few will offer up to 150% of the deposit amount. 

Crypto Boost

🌋⚒️The crypto boost bonus is available on a few betting sites that accept cryptocurrencies. The sportsbook usually offers 10% of your deposit amount when you deposit using Cryptocurrency. But the boost is offered on only specific types of coins. Check out the requirements first. 

Bitcoin Sports Welcome Bonus

👋The welcome bonus is given to you once you fulfill all the requirements for registration. This bonus is common to all casinos, but the size is often small. 

Referral Bonus

💯The referral a friend casino bonus is a very rare type of bonus offered by a few betting sites. You will get this bonus when you invite your friends to play at a betting site. The bonus can be either a one-time bonus or a percentage 

Valuable tips for sports betting with crypto 💡

Have sound sports knowledge. Always bet on a sport that you are familiar with the rules and betting markets. This allows you to make a sound judgment.

Set a betting limit. Be practical about your budget. Set aside the number of coins you are ready to lose.

Find the best online bookmakers. Always stay away from shady, faulty betting sites. Ensure that you bet on licensed and regulated sportsbooks only.

Find a niche. While betting on all niches can increase your chances of winning, finding a specific niche you are knowledgeable about gives you confidence leading to informed choices.

Try crypto betting arbitrage, which is potentially a profitable way of investing 

It is worth noting that there is no Crypto betting regulation. It is not officially prohibited or allowed. Therefore, you can use it as you wish. Find a crypto prediction betting guide for more insights if you are betting on crypto. While crypto vs. betting might be a complex topic, the underlying concept is similar. However, this betting guide with crypto should direct you to the right thing to do.

Overview of crypto betting by phone📱

Mobile betting with crypto is commonplace, thanks to the crypto betting app. Each bookie has created crypto sports betting app to allow bettors to place bets on the go. Typically, you can quickly sign up on mobile betting sites using your phone. Good news; there are multiple betting apps for android and iPhones. This makes both android and iPhone betting much easier. Note that not all mobile betting sites are worthy of your time. A crypto betting app that is clunky and constantly freezing can frustrate your betting.

Cryptocurrency online betting: Safety and security🛡️

Security is a top concern when engaging in online activities involving monetary transactions. With many casinos accepting crypto as a means of transaction and a few allowing it as the only transaction means, it is vital to determine how secure they are. Cryptos by themselves are secure and safe to use. However, you must select a secure and trustworthy crypto betting site. That means choosing a licensed, regulated, and fully audited gambling site. 

PROS and CONS about crypto betting 👍&👎

PROS

  • Unparalleled transparency as cryptos are based on a decentralized system
  • You have instant access to your cryptos, unlike banking options
  • Low transaction costs
  • Not subject to inflation
  • Highly secure
  • It is not taxed
  • Easy to maintain a higher level of privacy

CONS

  • Highly volatile
  • Only found on a few betting sites
  • Its untraceability is associated with criminal activities

FAQ about crypto betting

Several betting sites accept cryptos – check this article for a list of crypto betting sites. However, ensure that a crypto betting platform is licensed and regulated.

Yes, provided a betting site offering live events accepts cryptocurrencies as a transaction method.

Yes. Cryptocurrency trading is regarded as a form of gambling because you place your money expecting that the price will go higher. However, it might drop.

Finding the best crypto bookmakers starts by ensuring it is fully licensed and offers many cryptocurrency options. Again, ensure it offers betting markets or casino games that interest you.

Bitcoin is the most common and the best crypto so far. It is famous as it was the first to be invented. So it has evolved to be the most reliable Cryptocurrency today.

No. Not all betting sites accept cryptos. However, these digital coins are being fast-accepted, and soon, it is accepted that nearly all betting sites will accept cryptos as a transaction method.

Really, what is crypto betting? Is it worth it?

Crypto betting is simply using any cryptocurrencies as the currencies of bookmakers to place bets. Betting with crypto-betting coins is very fast and secure, making it a reliable option. Crypto bookmakers stand out for their exemplary customer experience, sports betting options, and multiple games. However, the best option is fully licensed and regulated like any other betting site.

Other crypto tips are available for 18 May 2022 in order to be up to date😊