Bitcoin owes its popularity largely to its usage in online gambling, where due to its beneficial features, it received the recognition it deserved. Shortly after, the number of online casinos accepting this cryptocurrency along with some other altcoins began to grow rapidly. The casino customers saw its merits, and the site owners didn’t want to be left out of the trending currency. Among those sites where those that offered betting on sports besides the traditional dice, poker, and slot games, and later a number of high-quality crypto sportsbooks emerged on the Internet.
Many of those mushrooming casinos and sportsbooks sank into oblivion not long after they appeared. So, we could say that not only you’re not late to join the club of crypto sports gamblers, but it may be the best time to do it. Time has proven that cryptocurrency is here to stay, and certain sportsbooks managed to show their worth and progress.
Benefits of Cryptocurrency in Sports Betting
There are several reasons why cryptocurrency is so attractive for online gamblers and sports bettors. Mainly, this is because cryptocurrency is still out of reach for governmental regulators. There are, of course, attempts to change that, but the number of crypto coins one can use and online places to go to is too high to become subject to regulation without exception.
Other advantages anyone will value in cryptocurrency are the transaction time which is significantly lower than when using fiat money, and almost non-existent transaction fees. Therefore, many people have already realized that using cryptocurrency for storing and transferring funds is much more comfortable than relying on traditional banking.
So, what are the differences between cryptocurrencies and which ones are the best to use on sportsbooks? That depends because things tend to change in the crypto world, and so do the casino offers and bonuses. One thing is certain: choosing the most popular coin will open the doors to more sites to choose from. Let’s go over a few of the most widely spread cryptocurrencies at the moment, because we clearly cannot cover all of them.
Bitcoin was the first one to introduce cryptocurrency to the world and remains the most used one. Anything can happen, but it seems to be the best option for the reserve currency. Despite the fluctuations in price, it’s the most recognized form of virtual money that has proven its stability.
Bitcoin Cash (BCH)
This is an increasingly spreading cryptocurrency, and it was created due to different opinions on the Bitcoin network capacity in the community. Part of the team went on to work on Bitcoin Cash, realizing their vision of what it should be like with this cryptocurrency. Most sportsbooks that accept Bitcoin will also let you use Bitcoin Cash for depositing your account and making bets.
Ethereum is considered by many as the most technologically advanced cryptocurrency. In three years from its release, it has managed to gain the trust of many users and site owners alike and advanced to the leading positions.
Litecoin was basically modeled after Bitcoin, but it’s not an identical twin. Their encryption methods are not the same, and Litecoin can boast offering somewhat greater speed. It also comes with cheaper transactions. The downside is that it is still not as widely accepted as Bitcoin, but that is gradually changing, and finding a decent sportsbook working with this cryptocurrency is not a problem.
What might have seemed like a joke at the beginning, turned out to be one of the most recognized and user-friendly cryptocurrencies. With a famous meme dog of the Shiba Inu breed as its mascot, Dogecoin has arguably the most friendly and helpful community. This currency will never let you forget what gambling and betting on sports is all about – having fun! And earning money that can be easily withdrawn and used for your other needs, of course.
Dash is another cryptocurrency that reminds Bitcoin a lot. As of now, it’s the least accepted altcoin of the listed here, but being one of the top ones, it’s still a good choice that can lead to discovering some great gambling places. Besides, it is much faster than Bitcoin and offers some additional privacy features.
Even though there are some cryptocurrencies created specifically for sports betting online, the number of sites accepting them will be rather disappointing. And we think you’ll agree that it’s much more convenient to bet using the money you can easily use elsewhere.
Although you will find lots of online sportsbooks accepting various cryptocurrencies without any difficulties, we’ve made things even easier for you by reviewing the most popular of such sites. Here they are, and you can always check our detailed reviews of them.
1xBit.com is a top gambling site with an extensive list of sports events and various bonuses for its players. It supports over a dozen currencies, including BTC, BCH, LTC, DOGE, ETH, DASH, and others.
Betcoin.ag is a modern online casino with impressive graphics and a progressive VIP program that offers multiple tiers with different rewards. The acceptable currencies are BTC, BCH, LTC, ETH, and DSH.
BitcoinRush offers a 0% house edge and a generous reward system for all players. Coupled with a rich catalog of sporting events and favorable odds, it’s the choice of many bettors. The downside for those not owning some Bitcoin is that it’s the only used currency here. However, getting a hold of some at a cryptocurrency exchange is not a problem nowadays.
CloudBet, like many other gambling sites, offers classic casino games, numerous bright slots, and live casino along with an impressive sportsbook. Its generous welcome offer up to 5 BTC and cold storage make it a place to be considered. The accepted currencies are BTC and BCH.
mBit Casino has everything a decent online casino should have: rich selection of betting options, rewards for both new and regular players, bonus offers, pleasant design and a gift store with lots of cool stuff. As for the crypto coins it accepts, you’ll need BTC, BCH, ETH, LTC, or DOGE to start playing.
The Bottom Line
You must have already come to the conclusion that sports gambling using cryptocurrency is not something one should wave aside. The benefits blockchain technology has both for bettors and sportsbooks owners are invaluable, represented by an increased speed of operations and often near-to-zero transaction fees, depending on the cryptocurrency of choice.
Also, the lack of governmental regulation and bank restrictions over your money is what makes people create online wallets and keep at least a portion of their funds in crypto. Despite the constant changes, this type of currency has proven to be relatively stable and offers a higher level of convenience. Besides, it’s not like fiat money is safe from fluctuations.
We hope this article was useful for you and will save your time should you make up your mind and try betting at one of the sportsbooks we mentioned.