Cryptocurrency for Online Gambling & Betting
Virtual currency industry has seen tremendous growth in the past few years which allowed it to break into the gambling market as an alternative to real money. Bitcoin is one such type of currency that has got global recognition as an alternative to liquid funds. With each day, the crypto industry is becoming more competitive with hundreds of cryptocurrency sites cropping up. With increasing competition, many online betting sites worldwide and in India have started offering bonuses and benefits to lure in more high rollers and punters. The fast deposits and withdrawals along with low transfer fees have made crypto betting much more popular among the newbies and even the pros. In this article, we will look at every aspect of cryptocurrency in the context of gambling and betting.
fast deposits and withdrawals along with low transfer fees have made crypto betting much more popular
FAQs about Cryptocurrency
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Current State of Betting Industry & Future Prospects
At present, sports betting holds a large market share in the international betting industry. It has become one of the fastest-growing market that has ever been part of the betting industry. A Zion Market Research report states that in 2017 that international betting on sports was estimated at around $104.31 billion and would be touching the $155 billion mark by 2024. A compound annual growth rate from 2018 to 2024 predicted through the research came out to be 8.83% which is unprecedented, thanks to digital connectivity!
Why Crypto is the Next Thing?
The number of cryptocurrency betting sites have drastically increased over the past couple of years. This is the result of the draining and tiresome nights spent by cryptocurrency and blockchain developers to create lucrative incentives for online bettors to take part in cryptocurrency sports betting. We have listed the major advantages of a cryptocurrency over any other payment methods so that you get to know why it is the new alternative.
Fast Deposits and Withdrawals
Cryptocurrency is digital cash that has been decentralized. This allows the bettor and gambler to directly interact with the crypto betting site without the need of any intermediary. Users are able to directly transfer their bets from their digital wallet to the betting account wallet in an instant and without any transfer fee. Players can also withdraw the winnings quickly without any hassles. Moreover, there are some online betting sites that have automated the payout process where the amount is sent directly to the user’s wallet.
allows the bettor and gambler to directly interact with the crypto betting site without the need of any intermediary
Low Fees
Cryptocurrency has a lesser fee than any other payment method available on online betting sites. Cryptocurrencies like Bitcoin charge a negligible fee when you are trying to deposit funds into your online betting account.
Accessibility
With betting and gambling laws and legislations passed frequently, the gambling industry is one of the most difficult to access services globally or locally. Be it physical or digital, gambling services have different restrictions in different countries which affect the customer base of a betting site. There are no laws that can presently restrict cryptocurrency from being used anywhere in the world with exceptions of Russia, China, Vietnam, Bolivia, Ecuador, and Columbia. Many betting enthusiasts were able to surpass the local betting and gambling laws and easily access a cryptocurrency betting site because of the incompetent KYC procedure that was created in the early days of cryptocurrency. Even today, many gambling sites such as Stake.com and 1xBit can be accessed from a discreet VPN service irrespective of the location.
Anonymity
One of the most appreciated advantages of crypto is the discretion with which a player can conduct their business without getting noticed anywhere. This anonymity has become one of the most important selling points for cryptocurrency all over the world. For a gambler who is undercover, they are provided with the opportunity to lock their bet without the compulsion of declaring the name and address.
How To Gamble Using Crypto?
Those who are new to crypto need to begin with buying some tokens or coins through an exchange. Bitcoin is the most trusted and popular choice among bettors and gamblers and betting and gambling sites. However, many websites also accept ‘alt-coins’ like Dogecoin, Litecoin, Bitcoin Cash, and Ethereum. To buy coins you need to create an account with the exchange where you can use the flat currency to buy crypto. Once you buy the coins using the flat currency, you will be able to deposit the funds using the crypto in your betting account. There are many casinos that also allow you to use your debit and credit card to buy the cryptocurrency which is way more convenient than buying it through an exchange and then transferring it to the betting site. However, there are cryptocurrency gambling and betting sites that require players to send the deposit money to the casino wallet. Whenever you’re playing on a crypto betting or gambling site, you won’t be wagering a whole lot of coins unless you are a professional. Most cryptocurrency betting and gambling sites allow players to place their bets in ‘mBTC’ or ‘milli-bitcoin’ which is 0.0001 BTC. Players can wager much lower than this amount on most of the sites.
Top Rated Crypto Sports Betting Sites
Below listed are some of the major crypto sports betting sites that have thousands of Indian users also:
Stake
This site is one of the most popular ones and the most preferred crypto betting sites. This is because of its user-friendly interface and a multitude of sports for you to place your bets in. Although no welcome bonus is offered, the website provides various bonuses, cashback, and VIP perks. The registration process is really easy, only requiring a person to enter their username, email address, and password. Each account is anonymous, which is an excellent system to maintain user privacy. With more than 20 thousand events every month, Stake.com has become one of the largest cryptocurrency-based betting platforms. It is available all over the world except the Czech Republic, Australia, and the USA.
SportsBet
The website accepts both cryptocurrencies and Bitcoin from users operating from all the countries around the world except punters from Estonian countries, Australia, and the USA. The platform is legally very sound and constantly takes client feedback to improve the services. Various currencies they accept include $US, $CA, EUR, INR, LTC, BTC, LTC, ETH, and SOC. Payment methods excepted include PaySafeCard, Ecopayz, MuchBetter, Mastercard, and Visa. SportsBet offers many promotions regularly which are beneficial for all kinds of players. It is available in EU, Asia, South America, UK, and India.
1xBit
Launched in 2016, this platform became one of the highest-rated cryptocurrency-based sports betting sportsbooks because of the extensive selection of games in different sports and a variety of lucrative promotions. The website is available in 60 languages and is anonymous. 1xBit is the only website that allows users to make deposits using 25 cryptocurrencies including PAX, LINK, OMG, USDT, LTC, ETH, and BTC. The number of events is huge including UFC, eSports, Politics, and various events. Users are not asked for their data and the account creation process is really simple. There are lots of promotions and bonuses along with a welcome package of up to 7 BTC. It can be accessed from anywhere in the world. However, the UK and US punters may not be allowed to use the website or may have limitations.
BetOnline
This is the most popular crypto gambling website for players residing in the US. However, the website is accessible from all over the world and is among the first Bitcoin sports betting websites that offer security and ensure complete regulatory compliance of a casino in the US. Users can choose from a large selection of live and sports betting options. The platform accepts cryptocurrencies such as LTC, ETH, XRP, BCH, and BTC. The bonuses are higher for users who are betting with bitcoin. The 24/7 customer care portal is very responsive to issues and concerns. A 50% welcome bonus is offered which is up to $1,000. Also, a 100% bonus for first-time crypto deposit is there too.
Thunderpick
The website is a newly launched cryptocurrency-based platform that has shown great potential in becoming one of the topmost betting websites because of the user-friendly interface and the helpful customer service portal. Thunderpick offers players to bet on eSports such as Dota 2, and CS: GO League of Legends. Moreover, users who stick to cryptocurrencies are allowed the status of having an anonymous account. The money withdrawn from an account takes only 15 minutes to reflect in the user’s account. Users can deposit funds using currencies such as BCH, USDT, XRP, ETH, LTC, and BTC. Thunderpick also has its own cryptocurrency that users can buy to bet. The website is available in Chinese, English, Russian, German, Spanish, Portuguese, and Turkish. Punters all over the world can access Thunderpic except those who live in Netherlands, France, the US, Malta, Sweden, Poland, Northern Ireland, and the UK.
FortuneJack
This is one of the first Bitcoin sports betting websites that was launched in 2014. Today, the website ranks the highest in cryptocurrency gambling category and has a vast selection of betting games and events. FortuneJack has a user-friendly interface where users can easily create an account by only entering their email, password, and name. The customer support at FortuneJack is available 24/7. The website accepts currencies including ETH, LTC, BCH, and BTC. Users are offered 110% bonus on first deposit which is up to 1.5 BTC along with 250 free spins. Also, there are reload bonuses for up to 3.5 BTC offered every week. It is restricted in the UK and US and available for punters living in the EU, South America, and Asia.
Betcoin
Launched in 2013, Betcoin has been constantly expanding its outreach and services that include a wide variety of sports betting games and live sports betting options covering almost every major sport on the planet. The website allows betting on MMA, boxing, cricket, rugby, basketball, volleyball, tennis, American football, baseball, and football. The currencies accepted include XRP, XMR, LTC, ETH, ETC, DASH, BCH, and BTC. VIP player program on this website provides users loss percentage with the points earned during every bet.
BitStarz
BitStarz is another one of the most popular crypto gambling sites that is accessible to gambler and bettors all around the world. The site offers an elaborate selection of slot games which are most appreciated among casino players. The enormity of their collection has earned them the name ‘King of Slots’. The total number of slots is more than 1,800. Players can also use cryptocurrency other than Bitcoin including Litecoin, Tether, Dogecoin, Ethereum, and Bitcoin Cash. Although, there are websites that may not accept a certain type of cryptocurrency. Therefore, it is necessary that you enquire before creating an account on the website. Websites like BitStarz accept all the major credit cards and many other payment methods that allow players to make deposits in Euros. This is especially beneficial for players who are new to Cryptocurrency and Bitcoin. Keep in mind that your bank will charge you a certain fee for foreign currency exchange if you are from a country where Euro is not used. Identity verification is needed if you want to credit your betting account in Euros. If this is not comfortable for you in any manner, you can credit the account with Bitcoin. Cryptocurrency is the most convenient method after Bitcoin that will allow you to withdraw your funds much faster. An average withdrawal in cryptocurrency takes 10 minutes on BitStarz. The success rate is 90% which speaks volumes of the reliability of this payment method.
Conclusion
The future of cryptocurrency seems more stable than it is now with more and more countries and industries experimenting and accepting this payment method. The payment method is way more versatile than anything that has ever been introduced, keeps your identity a secret and can be easily accessed in any part of the world. Gambling and betting industries are exploiting the most out of crypto in a positive manner which has helped increase the number of bettors and gamblers.
Min Deposit: $10
Min Deposit: ₹1,000
