There has been a huge upturn in the popularity and use of online sports betting sites in recent years. The industry just seems to be getting bigger and more profitable – even with everything that has been going on in the wider world.
One of the reasons for this is the use of cryptocurrencies and the emergence of Bitcoin betting sites. Some of these are exclusively Bitcoin. But the real increase has been the number of existing betting sites that are now accepting cryptocurrencies – including Bitcoin – as a payment method.
If you are new to online sports betting – or are interested in digital currencies – you should take a look at this guide to betting with Bitcoin.
Check the legals
You may be lucky enough to live in a place where online sports betting is legal – and always has been. But there are still plenty of places around the world where gambling is still forbidden. That is why it is very important to find out what the situation is in your location.
You should also check the details of the legality. Different states in the US have different betting laws – and sometimes even differentiate between types of betting. That could mean betting being allowed but not with digital currencies, such as Bitcoin. It is always best to check.
Compare offers and promotions
Once you have figured out whether Bitcoin betting is legal in your location you will want to choose the best online sportsbook to sign up with. There are a number of factors to take into consideration – some of which we are covering here – but welcome offers and other promotions are important.
Nearly every betting site offers a welcome bonus of some sort. But those who accept cryptocurrencies sometimes have exclusive promotions for digital currency users.
Betting markets and odds
This is not really a Bitcoin betting-specific factor to consider, but it should be a crucial component in choosing any online betting site. It may seem obvious to say that you want the best betting markets and odds – but this can make a lot of difference when it comes to potential winning returns.
You also want to make sure that you can bet on what you want with your crypto. Some betting sites – especially Bitcoin-exclusive ones – may concentrate on certain sports or esports. Look for a wider range of betting markets to ensure that your sportsbook is on top of its game.
Customer support
This is one factor that is sometimes overlooked when it comes to choosing a betting site. But it is one that seems even more important if you are thinking of gambling with cryptocurrencies. Although you may not need them very often, a good customer support team is invaluable.
Betting with Bitcoin and other digital currencies is still relatively new, so you want to know that there is help available whenever you need it. Check to see if your potential betting site has a good help team – and definitely one that is available 24/7. You don’t want to have to wait to get in touch.
Sort out your crypto
Once you have made all these checks you can start getting to the interesting part. Make sure that your digital wallet is funded and that there is a seamless way to deposit Bitcoin funds into your new customer account. You should already have the cryptocurrency ready, of course.
Betting with Bitcoin is new so do make sure that you are betting with regulated and licensed sites. You want your experience to be as easy as possible, after all.