Cryptocurrencies come in many different forms, with the most notable being Bitcoin. One of the first mainstream applications of cryptos, as they are frequently called, was in online gambling. As such, it should come as little surprise that sports betting websites were right behind dice sites and online casinos that were built on the premise of cryptocurrencies as their primary medium for financial transactions.
While not every online sportsbook accepts Bitcoin or other cryptocurrencies, the majority of offshore brands now do. You aren’t going to find a Las Vegas sports betting app that allows you to deposit funds into your account using cryptos, but BTC in particular has become a mainstay at the majority of online bookmakers. In fact, there are now some online books that exclusively accept cryptocurrencies for deposits and withdrawals.
Regardless of your own experience with cryptos, they are becoming more and more prevalent in the world of sports betting and this trend is very likely to continue indefinitely.
Top Cryptocurrency Sportsbook
The CSB pick for best cryptocurrency sportsbook is clear cut. We have picked BookMaker.eu as the number one choice for cryptocurrency online sports betting as a whole. While many online books accept only Bitcoin for banking options, BookMaker instead offers a wide array of cryptos to choose from.
You will not only be able to deposit and withdraw at BookMaker with BTC, but you can also use other large market cap coins like Ethereum and Litecoin. Taking it a step further, BookMaker also accepts smaller coins like Dogecoin and Bitcoin Cash. This type of selection is unmatched when it comes to online sportsbooks that use cryptocurrencies.
Beyond the wide selection of coins that can be used, BookMaker also stands out because of its reputation within the online sportsbook industry. Yes, there are some online sportsbooks that accept cryptocurrencies only, but they are, at most, a few years old and do not have the years of experience or the legitimacy that is found in a decades old brand like BookMaker.
Other Top Online Cryptocurrency Sportsbooks
There are some other online books that come close to competing with BookMaker as the best cryptocurrency sportsbook. Others that are worth considering include BetOnline.ag, SportsBetting.ag (these two are sister sites) and MyBookie.ag. None of these brands are on quite the same level of BookMaker, but as a smart and sharp sports bettor, it is always wise to have accounts at multiple sites, and these would be the next best options to consider, especially if you are frequently line shopping.
Cryptocurrency-Only Online Sportsbooks
There are many, many more crypto only online casinos than there are sportsbooks that operate exclusively using cryptocurrencies for deposits and withdrawals. There are a number of reasons for this, and it is slowly changing, but the crypto sportsbook market is primarily made up of older brands that still accept real money deposits using traditional methods like credit and debit cards but also accept cryptos as an ancillary option.
One of the most notable crypto only sportsbooks is called Nitrogen Sports. Now, the reason that we did not make this book our top choice is largely because they only accept one type of crypto, which is Bitcoin. Since just about every online sportsbook already accepts BTC, there is no real reason to go to a lesser known brand like Nitrogen only because they use cryptos alone.
Another crypto only online sportsbook is BetCoin.ag. Now, this book seems to effectively be non-existent and has had a number of problems in its relatively short lifespan. BetCoin was a unique and noteworthy option primarily because they accepted not only Bitcoin but also Ethereum, Dogecoin, Monero and other lesser known cryptocurrencies.
BetCoin had always been a somewhat shady operation due to the fact that no one ever really knew who its owners were, there were frequent log in issues and downtime, and ultimately the brand was mysteriously “sold.” While it is technically a cryptocurrency only sportsbook, it is not a destination that would be recommended to join.
Which Cryptocurrencies are Used Most for Sport Betting?
Bitcoin is easily the most frequently used cryptocurrency in the world of online sports betting. It has been used for many years at this point and remains the number one option. When it comes down to it, Bitcoin effectively serves as the “reserve currency” among the hundreds of types of crypto coins that exist today. Couple this with the fact that it has been around the longest and has the most brand recognition and you can see why so many real money sportsbooks have decided to accept it.
Behind Bitcoin in terms of usage and availability in online sportsbooks would be ETH (Ethereum). It is no coincidence that Ethereum is also the second largest market cap crypto coin on the market. The more prevalent a coin is among cryptocurrencies as a whole, the more likely it is to be added as a deposit and withdrawal option for online sportsbooks.
In the future, it is a safe bet that more coins will continue to be added to the roster of banking options at sportsbooks. As soon as operators become more comfortable with using cryptos in their transactions, they will undoubtedly welcome the usage of other popular and widely held coins.
Online Cryptocurrency Sportsbook Bonuses and Promotions
One of the main sales pitches of cryptocurrency is found in its anonymity. This is a double edged sword for online bookmakers, however. Since accounts can be easily funded from any random crypto coin wallet address, it is almost impossible to definitively connect one person to multiple accounts, especially if they are using unique IP addresses in an attempt to conceal their identity.
The most common way for online sportsbooks to fight fraud with cryptocurrencies is to limit the size and frequency of first time deposit bonuses, reload promotions and other similar offers. The books definitely want the action and busienss from players who want to use cryptos in their transactions, but they may limit your bonus money in order to help protect their exposure. If everyone claimed a large deposit bonus with each deposit they made, the sportsbooks would not be able to stay in business.
Keep in mind that, even though you may use a crypto to fund your sports betting account, you may be asked to verify your identify and/or personal information by a sportsbook. This is done as a measure of fraud prevention, and so long as you are not attempting to game the system, should not cause any issues for you as a bettor. As always, only open and use one account at any online sportsbook, whether you are using cryptos or regular real money to bet with.
Benefits of Betting on Sports with Crypto
The benefits of online sports betting using cryptocurrencies for banking cannot be understated. Not only do the players benefit, but so too do the operators themselves. One of the biggest issues in the history of online sports betting has always been the speed at which payouts are made. Operators would incur heavy fees to issue checks, bettors would be upset at how long it took to receive their money, and everyone would end up frustrated.
Cryptos have allowed withdrawals to not only be processed in an extremely short amount of time, but payments are also issued with a higher level of security and significantly less fees. This is a win-win for all involved.
As you might imagine, the improved efficiency of online sportsbook withdrawals via cryptos is also applicable to deposits into accounts. Instead of having your debit or credit card declined, you know that a crypto deposit will always go through. At most, you may have to wait a few minutes for the sportsbook to confirm the receipt of the crypto that you sent. Fees for sportsbook deposits have also largely been eliminated from the question. The majority of online books used to pass along credit card processing fees to the players, but these no longer exist with the use of cryptos.
Cryptocurrencies themselves are changing at a rapid pace and online sportsbooks are always a step ahead. Whether it is faster processing times, new coins that can be used, or any other innovation in the world of cryptos, it is a near guarantee that bookmakers will use cryptos to make the sports betting experience that much more beneficial and efficient for all involved.