Using Bitcoin for Sportsbetting Online

Are you a fan of sports betting, and would like to bet with your Bitcoin instead of traditional fiat currencies? Read on to learn more about sports betting with BTC.

There are some bookmarkers that offer deposits and withdrawals with Bitcoin and other cryptocurrencies – you can see some of them in the section below. Here at ICOshock we explain everything to you in a simple and understandable way. After reading this article, you will know what Bitcoins are, the benefits of it, and which international sports betting sites offer this payment method.

International bookmakers that accept Bitcoin

Not too many international bookmakers have added bitcoin as a payment method. One of the main reasons for this is the fact that especially as the Malta and the Maltese Gaming Authority license, which most of the biggest bookmakers are licensed under, do not accept the use of bitcoin as a payment method. The only bookmaker license that offers Bitcoin is the gaming license from Curacao.

Below are some of the bookmakers we believe are some of the best international bitcoin sportsbooks:

Although not all sportsbook lets you wager with Bitcoin there is another viable option for increasing your Bitcoin balance. You could exploit profitable, low-risk free bet offers and buy more BTC with the profits.

First of all: What is Bitcoin?

Bitcoin (BTC) is a digital currency that is neither issued nor regulated by a central bank (a so-called “decentralized cryptocurrency”). The purpose of the digital currency is to create an alternative economy, which cannot be affected by unjustifiable monetary policy or the like. Bitcoin came from an idea by Japanese Satoshi Nakamoto, and the idea quickly became a reality.

Since Bitcoins are independent, it is simply impossible for any authority (state or other) to intervene in the value of BTC. So it does not matter if, for example, the U.S Treasury suddenly prints a lot of USD or sets interest rates – it will not affect the BTC value. The value is determined by demand, availability, and the world market (just like gold and USD). Many were skeptical about the currency when it first came in 2009, but the currency has increased in value since then.

Bitcoin is a very secure cryptocurrency and has managed to withstand many hacker attacks. And the developers behind the currency are working around the clock to close any security holes that may arise. Also, there is no law that says it is not allowed to use Bitcoin.

Why would people use Bitcoin for gambling?

It’s 2020 and it has been eleven years since Bitcoins became a reality, and the revolutionary digital currency is continually growing in popularity. This has a lot to do with the fact that it is not regulated by a national central bank, so it will be unaffected by any political conflicts and or financial crises. The value of a bitcoin depends on how much demand there is and  how much the currency is used.

Also at casinos Bitcoin has become a payment method that is being used more and more, but only at casinos that have a license from Curacao. The benefits of Bitcoin are many, but below are the best arguments for using Bitcoin for online gambling:

  • The transactions take place much faster than a normal bank transfer.
    There is little or no cost associated with the use.
  • Last but not least, the transactions can be done in a much greater degree of anonymity (BTC transfers do not require the same personal details as the other methods require, such as name and email address).
  • Using BTC as a payment method in an online casino is just as easy as using a virtual wallet (such as Neteller and Skrill). Bitcoins are stored in a kind of virtual wallet called “wallet file” or alternatively with a third-party wallet service. In both cases, the “coins” are sent over the Internet to a recipient who also has a wallet.
  • In contrast to popular e-wallets such as Skrill and Neteller which can restrict your account and block your funds, you 100% control your funds and Bitcoin wallet.

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