Bitcoin Sportsbooks
Bitcoin sportsbooks are available all over the internet. Bitcoin is usually the best way to deposit and withdraw at many online sportsbooks, and the top online sportsbooks – that is, the ones that serve the most people – are all bitcoin sportsbooks at this point. Betting with bitcoin has never been simpler than it is now in 2023, and it comes with perks like bigger bonuses and faster deposit and withdrawal times.
Read on and learn how Bitcoin can now be used to deposit into several of the sportsbooks for USA players. We also explain the advantages and disadvantages of Bitcoin sportsbooks as well as the rules and stipulations governing Bitcoin use at legal offshore sportsbooks.
Best Sportsbooks That Take Bitcoin
The best sportsbooks that take bitcoin are all international, and they all share a few important qualities. The top bitcoin sportsbooks also offer bitcoin withdrawals, as well as other perks. For example, all of the sportsbooks below not only offer bitcoin deposits and withdrawals, but also offer them with no additional fees, so you can save money when betting with bitcoin. In addition, the top bitcoin sportsbooks also offer bigger bonuses for the use of bitcoin – and our number one ranked sportsbook, Bovada, offers that bigger bonus with no additional rollover requirements.
USA Online Sportsbooks
Bovada features a top tier bitcoin sportsbook, with no fees and instant processing times on bitcoin deposits, as well as free withdrawals. They offer a great Bitcoin welcome bonus with a 75% match up to $750, with a 5x rollover for sports betting and horse racing. This bonus can also be used in their casino, where it has a 30x rollover, so you can play through it however you’d like.
An excellent Bitcoin sportsbook for the high rollers, BetOnline offers a sky-high max deposit of $500,000 for BTC users. Their transactions have no fees applied, and processing time is instant, even for big money transfers like that. Their withdrawals are similarly generous, as you are able to take out as much as $100,000 when you withdraw from BetOnline.
A sportsbook that has been a longtime crypto adopter, MyBookie conforms to industry standards by not assessing any fees on bitcoin usage, as well as allowing transfers to happen nearly immediately, although they do give themselves up to 24 hours to fully process transfers. In our experience, this is rare, and their BTC transfers tend to be instant, but it is possible.
One of the more diverse cryptocurrency sportsbooks, it would be more of a shock if SportsBetting didn’t accept bitcoin than if it did. It operates similar to BetOnline in that it accepts up to $500,000 in BTC and will pay out up to $100,000 in BTC at any given time. No fees are applied to bitcoin usage and transfers of bitcoin are instantaneous.
Like MyBookie, XBet gives themselves a bit of a grace period - up to 24 hours - to process Bitcoin withdrawals and deposits. It is unlikely in the extreme that they actually need this grace period, but it is possible. XBet does not have any specific crypto bonuses, which is a knock against them as a crypto sportsbook.
Benefits Of Using Bitcoin To Deposit Into Online Sportsbooks
So, what are the benefits of using Bitcoin to deposit into online sportsbooks? Well, there are a great many reasons why, but the quick and dirty answer is that it will save you the most money, and be the most efficient method of deposit and withdrawal.
| Sportsbook: | Min: | Max: | Fee: | Time: |
|---|---|---|---|---|
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$10 | $5,000 | Free | Instant |
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$25 | $5,000 | Free | Less Than 24 Hours |
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$20 | $500,000 | Free | Instant |
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$25 | $5,000 | Free | Less Than 24 Hours |
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$20 | $500,000 | Free | Instant |
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$10 | $50,000 | Free | Instant |
100% Success Rate On Deposits - Bitcoin is not tied to any nation and therefore cannot be regulated by any nation. While the U.S. can attempt to stop transactions to and from betting websites that involve U.S. currency, they cannot do anything about exchanges using Bitcoin.
No Surcharge When Used At Online Sportsbooks - Currently most other sportsbook deposit methods on other betting sites incur some form of fee charged by the service used to deposit. Because depositing with Bitcoin is essentially exchanging one form of currency for another, there is no fee.
Quick + Instant Deposit Capabilities - Bitcoin is very quick to deposit, with most transactions being processed within 1 to 2 hours. Many forms of deposits often can take days or weeks to ship to the provider of a site and then be processed by said provider. Bitcoin is exchanged over the Internet and therefore are converted and credited relatively quickly.
Big Bonuses - The bonuses available at many online sportsbooks for using bitcoin are enormous. The sportsbooks love bitcoin players - they just do! This means that you generally get the best signup and deposit bonuses when you deposit with bitcoin as opposed to other methods of deposit.
Drawbacks Of Using BitCoin To Make Sportsbook Deposits
Value Always In Flux - So, this is a bit of a thorny subject. Bitcoin is a currency, but many people are invested in it like a commodity. One could say that any currency is subject to change, but with Bitcoin, the degree of the changes has been drastic in the past. The basic gist is that you could purchase a large quantity of Bitcoin one day, and overnight the price could drop, leaving you with coins that were worth only a fraction of what you purchased them for, effectively wasting your money. However, keep in mind that the reverse is also true – given the relative volatility in the value of Bitcoin compared to more traditional currency options. You could end up purchasing Bitcoin only to find the price has gone up, and you have made money simply by purchasing the coin.
Might Need To Convert To Dollars - If you are using Bitcoin purely as a medium of transferring your money to and from sportsbooks, you will at some point likely convert that money back into dollars. This requires selling the Bitcoin on an exchange, which is a process that is easy to do, but still adds some time to your cashing out. This is not a relevant concern if you plan on keeping your winnings in Bitcoin, however.
When Will State-Regulated Sportsbooks Adopt Bitcoin?
While crypto betting is widespread both in the crypto community and the sports betting community, the American industry has staidly avoided any integration with cryptocurrency – with one major exception. In 2021, Wyoming passed a law allowing anyone wagering at regulated books in the state to bet with various forms of cryptocurrency. The wording of the law allows for “digital, crypto and virtual currencies” to be accepted by sportsbooks, but it leaves this up to the discretion of the sportsbooks as far as which ones they will accept. If this law proves to be a success, other states could look at it as a potential method of driving revenue. If not, it could be a while before crypto usage is widespread at the state-regulated books.
How To Deposit With Bitcoin At Online Sportsbooks
Step 1: Get A Bitcoin Wallet
You can create a bitcoin wallet on a variety of apps, such as CashApp, as well as several apps developed specifically to serve as crypto wallets. A crypto wallet will simply hold your money while you transfer it. Make sure your wallet and password are safe and secure, as they are your proof that the wallet is yours.
Step 2: Purchase Bitcoin On A Crypto Exchange
You can purchase bitcoin on a variety of different online exchanges. Some apps, such as Cash App, perform the function of an exchange and a wallet at the same time. Others will require you to link your wallet to the exchange after you purchase your BTC to transfer it to your wallet.
Step 3: Send Bitcoin To The Sportsbook
In order to accomplish this, you simply have to choose the Bitcoin deposit option at the sportsbook of your choice, and enter your wallet address and the chosen amount of bitcoin to deposit.
Bitcoin Sportsbook Bonuses
Bitcoin sportsbook bonuses are a big draw of using bitcoin at online sportsbooks. They tend to be bigger in terms of monetary reward compared to other deposit methods, and this convinces many players to use bitcoin to deposit into online sportsbooks.
| Site: | Bonus: | Code: | Percent: | Up To: | Rollover: |
|---|---|---|---|---|---|
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Bitcoin Welcome Bonus | BTCSWB750 | 75% | $750 | 5X Sports/5X Horses/30X Casino |
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1st Time Crypto Bonus | CRYPTO100 | 100% | $1,000.00 | 14 |
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1st Time Crypto Bonus | 100CRYPTO | 100% | $1,000.00 | 14 |
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200% Crypto Sign Up Bonus | JOIN200 | 150% Sports Bonus + 50% Casino Bonus | $2,500.00 | 15x rollover on sports, 30X rollover for casino |
Using Bitcoin To Withdraw From Online Sportsbooks
Bitcoin withdrawals at online sportsbooks are on the upswing thanks to how easy and fast they are to execute. There are low minimum requirements across all online sportsbooks that allow for Bitcoin withdrawals and these transactions come almost instantly as well. As for how Bitcoin bettors actually go about withdrawing the coin from their accounts, the finds go directly back to your online cryptocurrency wallet where they can then transfer those funds to their bank accounts like normal. All in all, the process could take less than 20 minutes and happen even faster once bettors can get the hang of things.
| Sportsbook: | Min: | Max: | Fee: | Time: |
|---|---|---|---|---|
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$10 | $9,500 | Free | Less Than 24 Hours |
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$25 | $5,000 | Free | Less Than 24 Hours |
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$100 | $100,000 | Free | Instant |
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$25 | $5,000 | Free | Less Than 24 Hours |
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$100 | $100,000 | Free | Instant |
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$50 | $5,000 | Free | Less Than 2 Hours |
How To Withdraw With Bitcoin At Online Sportsbooks
Step 1: Use The Sportsbook You Deposited With
Bitcoin sportsbooks only allow you to withdraw in bitcoin if you deposited in bitcoin. This is because they do not want to be used as money-laundering clearing houses, so they make sure transfers only go to and from the wallets that initiated them.
Step 2: Perform The Withdrawal
This part is simple - you just select the bitcoin withdrawal option, enter your wallet address and the amount you want to withdraw, and you’re good to go.
Other Cryptocurrencies Accepted By US Online Sportsbooks
Bitcoin is the most popular and widely-accepted cryptocurrency in the world. It originated the concept, after all, and its blockchain technology constitutes a watershed development in the history of online data security. As such, Bitcoin has spawned a burgeoning market of other competing cryptocurrencies, which are called “altcoins” and each has its own standards and trade names. All of the top online, offshore sportsbooks accept Bitcoin, and most of them accept the bigger altcoins like Ethereum, Bitcoin Cash and Litecoin, but some sportsbooks are more friendly to smaller altcoins than others. Here is a short list of the cryptos currently accepted at our favorite online sportsbooks:
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Bitcoin, Bitcoin Cash, Ethereum, Bitcoin SV, Litecoin |
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Bitcoin, Bitcoin Cash, Litecoin, Ripple, Ethereum |
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Bitcoin, Bitcoin Cash, DASH, Ethereum, Litecoin, Dogecoin, Shiba Inu, Avalanche, ApeCoin, Cardano, Polygon, Solana, USDT, USDC, Chainlink, Stellar Lumens, Binance Coin |
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Bitcoin, ApeCoin, Avalanche, Binance Coin, Bitcoin Cash, Cardano, Chainlink, Dogecoin, Ethereum, Litecoin, Polygon, Ripple, Shiba Inu, Solana, Stellar Lumens, TetherUSD , Coin |
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Bitcoin, Bitcoin Cash, Litecoin, Ripple, Ethereum |
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Bitcoin, Litecoin, Bitcoin Cash, Ethereum |
Bitcoin At State Regulated Sportsbooks
Bitcoin is widely unusable at state regulated sportsbooks such as FanDuel and DraftKings, with one exception. In Wyoming, you are able to use Bitcoin with those sportsbooks, but only in Wyoming, and only at the sportsbooks available in Wyoming. You cannot, for example, have FanDuel’s PA app installed, go to Wyoming, and use BTC. You can, on the other hand, use Bovada in Wyoming as well as Pennsylvania and access BTC, thanks to Bovada’s offshore status.
Bitcoin Use At Online Sportsbooks – Conclusion
Overall, Bitcoin is an extremely unique proposition as far as funding your sportsbook accounts go. It offers unique advantages as well as unique disadvantages. It can be a bit difficult to understand conceptually, and a bit esoteric in terms of setting up your wallet and securing it and making sure that you are able to have access to it in the future, but the advantages are enormous. Transactions are very fast, the fastest of the available methods, and they are secure. It is, however, impossible to talk about Bitcoin without mentioning its famous volatility. Much of the allure of Bitcoin came from speculators, who bought the currency and advocated for widespread adoption, then sold the currency, treating it more like an investment than a currency.
This can and has caused large fluctuations in the price of Bitcoin, and this is something to be aware of when funding – it is likely best to do so in a short time frame if you are using Bitcoin to fund your sports betting so that you don’t forget about your coins for a few weeks and come back to less money than you left there. Of course, you could also come back to much more money than you left there, so, perhaps Bitcoin is a gamble of its own! Overall, if you are tech-savvy enough to use it, which is a much lower bar than people think, Bitcoin is an excellent method of depositing and withdrawing funds at online sportsbooks.