Sports Betting with Cryptocurrency

sports betting with cryptocurrency

Sports betting and cryptocurrency have both become very popular. But what if you want to combine them and want to bet with crypto? The possibilities are greater than you expect, and will be even greater than at this moment.

Cryptocurrency

Cryptocurrency is basically a digital coin that is mostly used to buy products online as alternative of money. The crypto coin is usually not seen as money, but as a means of exchange.

Bitcoin is the most popular cryptocoin, but you have many more coins like Ethereum, XRP and Stellar. Because it is the most popular it has the most value. One coin is worth thousands of dollars.

Wallets

The coins are stored in a virtual wallet and are well protected. A private key is generated for each wallet. These key is now your wallet en you can save this key everywhere. It’s recommended to hide those wallets in secret places because hackers can still steal your coins in your wallets.

Sports betting with cryptocurrency

Sports betting is possible with cryptocurrency and it is easy to use. The normal gambling websites like unibet and 888bet for example, doesn’t have the feature yet that you can deposit crypto coins on your account. But people made special cryptocurrency betting sites, just for betting with cryptocurrency.

A few examples of that sites are:

  • sportsbet.io
  • Mbit
  • Nitrogen
  • Cloudbet

There are more out there, but these are the most popular and the most trusted.

Is sports betting with Cryptocurrency illegal

Sportsbetting with cryptobetting is as legal as normal sports betting. So it is not illegal unless you are underaged. Because the cryptocurrency betting websites are more private, it is harder to check your real personality.

How to bet with cryptocurrency

These are the steps on how to sports betting with cryptocurrency for the people with crypto on their wallet.

how to sportsbetting with crypto

Step 1: Create an account

First create an account on a crypto sports betting website. Fill in the things you need to fill in and activate your account trough E-mail like you do on regular websites.

Step 2: Deposit crypto

If you have any experience with cryptocurrency, this is a very easy step. Go to “Deposit” on the website you are betting on.

You will probably see a screen where you can select the number you want to deposit. After typing that number there will show up a key. If you now go to your wallet, and do a send request, you can enter that key in there with the same amount you want to deposit.

Step 3: Play

Now you are ready to bet. This works the same as the regular betting websites and is really easy to use.

Once you won or you just want to cash out. You can do the same with deposit, but than the other way around.

Pros and cons sports betting with cryptocurrency

Pros:

The biggest advantage in our opinion is that is is really private. This website are not going to ask for your private personal informatie. They don’t know your bank details because you are using cryptocurrency.

Beyond the fact that sports betting with cryptocurrency is private, it is also very easy to use.

Cons:

Beyond the fact that sports betting with cryptocurrency is nice, compared to regular sports betting you have these disadvantages:

  • There is a lot more delay between the transactions
  • Money is collected from the transactions
  • Depositing and withdrawing is harder compared to regular
  • Odds are lower.
  • Less games and options
2018-12-05T19:34:39+00:00

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