Why Bitcoin For Sports Betting?
Zero Third Party Oversight
Due to the restrictive nature of federal laws on sports betting, American sports bettors have few choices when it comes to legal sportsbooks. With very few options, America’s legions of sports betting enthusiasts must place their wagers through offshore online sportsbooks like 5Dimes, Pinnacle, or Bovada. While these sportsbooks usually have no issue accepting deposits from U.S. Customers, most banks will attempts to fund online sportsbook accounts.
That’s where Bitcoin comes in, as the virtual currency’s design and structure is perfectly suited to solve this dilemma. By using Bitcoin to conduct these transactions, you avoid the threat of third party oversight entirely, as the exchange involves you and the sportsbook alone.
Bitcoin’s Blockchain Means Little to No Transaction Fees
Every online sports bettor knows that you can almost always deposit to a site free of charge, but withdrawing your winnings usually incurs a hefty fee. That’s because collecting your winnings from an online sports bet typically involves paying off the middleman.
However, a lack of fees is an extension of the Bitcoin blockchain’s fundamental design. With no middlemen standing between the payer and the payee, blockchain transactions don’t cost anything at all. Most Bitcoin transactions average a “fee” of just $0.04.
Funds Get There Faster
Continuing the benefits of cashing out via Bitcoin, bettors will be pleased to note that transactions typically take just minutes to complete.
Bitcoin Prevents Identity Theft and Fraud
Rather than input your credit card number, expiration date, and security code into an unsecured website form, Bitcoin transactions require only your address, along with your private and public keys. Bitcoin is a cryptographic currency at its core, so encoded data is an essential component of the exchange process. Even better, while a Bitcoin address can be calculated through its corresponding private key, reversing this process is impossible.
This makes Bitcoin by far the safest currency available for bettors searching for a way to load their online sports book account without sacrificing valuable private information.
The Best Bitcoin Sportsbooks
Once you’ve decided to take the plunge and use Bitcoin for your next online betting deposit, the next step is to find a Bitcoin-friendly platform. Luckily for you we have already done the legwork for you. Below you will find the Top Sportsbooks that accept Bitcoin, Ethereum, Bitcoin Cash, Monero, Doge as well as many other smaller cryptocurrencies. We have independently tested over 50 Different Bitcoin Sportsbooks & Casinos, Placed Bets, Deposited & Withdrew Funds, Ranked & Reviewed the Best U.S Friendly Bitcoin Sportsbooks & Casinos.