Bitcoin on Betting Sites

Bitcoin (BTC) is being used more and more by those who love to make sports bets online. At present, 25% of players worldwide have used crypto at least once to deposit and withdraw money on sportsbook sites, and BTC is the main choice. But you may wonder why this happened so fast?

Let’s move on to find out how you can pay with Bitcoin and make sports bets. Use our review at mylegalbookie.com to know everything about this banking method.

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Content

What is Bitcoin and How Does It Work?

Bitcoin is a decentralized digital currency that uses blockchain technology. It runs without a central bank or third party. Every transaction is stored in specific blocks across a public ledger, which makes it transparent and nearly impossible to alter. Such a system gives you full control over your money.

In order to use BTC, you’ll need a crypto wallet, an address, and a basic understanding of confirmations and how everything works. Once you send Bitcoin, it goes through 3-6 confirmations on the blockchain before it appears on the balance. Today, many bookmakers enable you to deposit or withdraw using cryptos, and some even offer BTC-only bonuses or zero-fee withdrawals for this.

Bitcoin Payments: Pros and Cons

Using Bitcoin in sports betting has ups and downs. If you know nothing about it, we are here with our detailed table to show you all the peculiarities.

Pros

  • Near-instant deposits (usually within 10 minutes);
  • No need to share personal banking info;
  • Works globally, even in restricted regions;
  • Low transaction fees (0-1% typically);
  • Complete anonymity — no personal ID needed for payments;
  • Decentralized — no central authority can block the payment;
  • Transparent blockchain records make transactions easy to track.

Cons

  • BTC value can drop suddenly due to high volatility;
  • Some bookmakers charge BTC withdrawal fees (up to 1.5%);
  • Irreversible transactions — no chargebacks;
  • Not all betting sites support Bitcoin.

How to Choose a Good Bitcoin Bookmaker?

In order to play safely, follow certain standards when picking a Bitcoin sportsbook. It must be legal, protect your data, and keep transactions safe. Below are key criteria from our experts to consider.

  • Licensing and Regulation

    Check if the sportsbook has a valid license, for instance, from Malta or Curaçao. These regulators audit reliable bookmakers and make sure services are fair and your data is protected. A licensed betting site will not scam or block your funds.

  • Security of Payments

    Bookmakers should use high-level encryption, like 128-bit or 256-bit SSL. This shields your Bitcoin transactions from snooping or theft. Look for certificates from trusted sources like VeriSign or Cloudflare.

  • Data Protection

    Sportsbooks that support Bitcoin should also protect user data. According to our experience, betting sites with two-factor authentication (2FA) and biometric login (face/fingerprint) are more secure. Some also use PIN codes or session timeout features.

  • Real-Time Monitoring

    Reliable sites track user behavior and transactions 24/7. If anything looks strange, they lock the account and ask for extra ID checks. This stops fraud and keeps your funds safe even if your login is compromised.

  • Fair Terms and Fast Withdrawals

    Make sure the site lists clear rules for crypto payments. Good bookmakers process cashouts within a few hours and don’t add hidden fees. Some even let you withdraw without converting BTC to fiat money.

Steps to Create a Bitcoin (BTC) Wallet

Before using Bitcoin in a sportsbook, you’ll need a wallet. It stores your BTC and helps you send or receive coins. You can create a wallet in under 1 minute with our instructions:

  1. Select any crypto exchange and open its site.
  2. Press Sign Up in the header.
  3. Pick a wallet type. Choose between a mobile, desktop, or web wallet. Apps like Exodus or Trust Wallet work well.
  4. Create a login and back up your recovery phrase (usually 12-24 words).
  5. Generate your BTC address by pressing the relevant address. Your wallet will give you a long string of letters/numbers. That’s your unique address.
  6. Find BTC on the exchange and buy the necessary amount. 

After you buy crypto on an exchange, send it to your wallet address. Transfers usually cost around 0.00001 BTC in network fees.

How to Deposit in an Online Bookmaker with Bitcoin Support?

Depositing via Bitcoin on betting sites is quick and easy if you already have a BTC wallet. Some sites process such transactions in 5-15 minutes, depending on blockchain traffic. You don’t need bank approvals, just your BTC address and enough balance. Check what the steps required are:

  1. Open the betting site.
  2. Sign in with your username and password or register if you do not have a profile.
  3. Click “Deposit” or “Wallet”. It is usually located in the header.
  4. Tap the Bitcoin logo. The site will show you a unique BTC wallet address.
  5. Enter the amount you want to deposit. Copy the wallet address. Go to your own crypto wallet and send the chosen BTC amount to that address.
  6. Confirm the transaction. After sending, the blockchain needs to confirm the transfer. It usually takes 1-3 confirmations and up to 10 minutes.

If the payment has been processed, you’ll see a Success notice. The money shows up in your account shortly after. In rare cases, like during a heavy workload, it might take up to 30 minutes.

How to Withdraw BTC From the Bookmaker?

Cashing out via Bitcoin is also fast and doesn’t need much work. Just make sure your sportsbook account is verified first. Once that’s done, follow these steps from our experts to withdraw your winnings:

  1. Open the bookmaker’s site.
  2. Enter your profile using your login details.
  3. Go to the cashier or “Withdraw” page. It is usually located under the “My Account” tab or in the menu bar.
  4. Choose BTC from the list. The sportsbook will ask for your crypto wallet address.
  5. Type how much you want to cash out. Most betting sites have a minimum, like 0.0001 BTC.
  6. Double-check the wallet address and amount. 
  7. Hit “Confirm.” Processing usually takes 10–60 minutes.

Other Cryptocurrencies as Alternatives to Bitcoin for Making Sports Bets

Bitcoin is not the only crypto payment tool used in online sportsbooks. Some sites accept 10+ cryptocurrencies that work just as fast and smoothly. Here are a few altcoins that are supported on most modern betting sites, according to our observations:

Is It Worth Using Bitcoin (BTC) on Sportsbook Sites?

Bitcoin is a good payment solution for modern bettors. It provides fast speed, low fees, and a high level of privacy. However, there’s a risk of price fluctuations and no refunds. Choose licensed sites, double-check addresses, and play smart. BTC is a reliable payment tool, but use your head when betting with it.

FAQ

Can I get bonuses when using Bitcoin in sportsbooks?

Yes. Some of them even give extra bonuses for BTC users, like 100% up to 1 BTC or exclusive reload offers.

Are Bitcoin withdrawals faster than bank transfers for sports bettors?

Usually, yes. BTC withdrawals are often processed in 10-60 minutes, while bank payouts can take 2-5 days.

Do I have to verify my ID when using Bitcoin to make sports bets?

Most bookmakers still ask for ID once before the first withdrawal, even if you use BTC for deposits and cashouts.