- Completely anonymous
- Can be used in countries where online gambling is restricted
- Usually free to deposit with and withdraw to
Bitcoin is a digital currency, often known as a cryptocurrency, which first became available in 2008. Bitcoin is the most popular virtual currency in the world today and is widely accepted by online sports betting sites and casinos around the globe. Bitcoin is growing in popularity for good reason.
One of the major positives to using Bitcoin as a payment method is the fact it is anonymous, meaning once you have created a Bitcoin wallet (this is required for all Bitcoin related activity) your personal and financial details are completely secure and kept away from prying eyes.
Another plus point is that many online sports betting sites accept Bitcoin without charging a fee for processing a deposit or paying out your winnings. While it is still in its infancy, we expect Bitcoin to continue increasing its popularity and more sites to accept it in the future.
Betting Sites that take Bitcoin
As mentioned, there are several renowned online bookmakers that accept Bitcoin as a payment and withdrawal method. One such site is the ever-popular 5Dimes who offer a 50% bonus on deposits of between $100 and $400, which gives you up to $200 of free play.
The table below shows some of the Betting sites that take Bitcoin. Bookmark it and return regularly to see if more Bitcoin accepting sports betting sites have been added.
|#||SITES||1ST DEPOSIT BONUS||MIN. DEPOSIT||VISIT SITE|
|#1||$250 Bonus on your 1st Deposit!||$20||VISIT SITE AND DEPOSIT|
|#2||100% up to $1000||10||VISIT SITE AND DEPOSIT|
Why Players Use Bitcoin as Preferred Payment Method
Once you start using Bitcoin for yourself it quickly become apparent why players use Bitcoin as their preferred payment method. We’ve already touched on Bitcoin being anonymous, and this alone is a major factor in online sports bettors using Bitcoin for deposits and withdrawals – you will no longer have gambling sites showing on your bank account transactions.
Another reason for the popularity of Bitcoin is the lack of fees associated with it. If you are a bettor who likes to move your bankroll around several different sports betting sites, the transaction fees can begin to mount up over time. However, so long as you deposit and withdraw the site’s predetermined minimum deposit or withdrawal amount, Bitcoin is usually free to use, leaving you with more money to place wagers with.
Finally, the value of Bitcoin can fluctuate, wildly sometimes, which sometimes works against you, but can often move in your favour when you come to make a withdrawal. Exchange rates tend to be more stable these days, yet it is worth checking a Bitcoin currency converter to see if the currency’s value is moving in one direction or another.