As the age of the net continues more and more strange trends, sites, and services continue to pop up. Some of these come and go, others gain immense popularity. Perhaps though the most interesting internet phenomenon is the rise of BitCoin and online sportsbooks that accept BitCoin deposits.
Simply put BitCoin is a form of Internet currency, created by an unknown man using a false name. They are beginning to be accepted by more and more sources, specifically sources all around the world as the BitCoin currency have no national affiliation and therefore are not subject to conversion fees like many other currencies.
Read on and learn how BitCoin can now be used to deposit into several of the best sportsbooks for USA players, and if the trend continues many more may follow suit. Further explanation will include the advantages and disadvantages of BitCoin sportsbooks as well as the rules and stipulations around using them to make deposits on betting sites.
Benefits Of Using BitCoin To Deposit Into Online Sportsbooks
100% Success Rate On Deposits - BitCoins are 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 Bitcoins.
No Surcharge When Used At Online Sportbooks - Currently most other sportsbook deposit methods on other betting sites incurs some form of fee charged by the service used to deposit. Because Depositing with BitCoins is essentially exchanging one form of currency for another, there is no fee.
Quick + Instant Deposit Capabilities - BitCoins are very quick to deposit, with most transactions being processed within 1 to 2 hours. Many forms of deposit often can take takes to ship to the provider of a site and then be processed by said provider. BitCoins are exchanged over the internet and therefore are converted and credited relatively quickly.
Drawbacks Of Using BitCoin To Make Sportsbook Deposits
Value Always In Flux - Currently like any other currency their value is subject to change. You could purchase a large quantity of BitCoins to deposit with one day, and overnight the price could drop, leaving you with less than you had. If their value took a sudden sharp drop you would be left with coins that were worth only a fraction of what you purchased them for, effectively wasting your money.
Finally perhaps the greatest obstacle is that while they are gaining popularity they still aren’t widespread in the sports betting world yet. Currently only a handful of places that allow legal sports betting in the United States also accept BitCoins, and whether or not they are trustworthy is hard to say. With many of the most trusted sites still not supporting BitCoin depositing it can be risky to trust less trustworthy sites that might support the currency.
That being said though, that doesn’t mean that there are no trustworthy sites that allow BitCoin. While few and far between there are some sites that have both a good reputation as well as the option to deposit using BitCoins. We have chosen our favorite of those sites and talk a little about it below.
BetOnline Sportsbook - Lifetime Bonuses, Welcomes All U.S. Players Using Bitcoin
BetOnline is among the very best online sportsbooks that take deposits using Bitcoin. In fact, they were one of the very first online gambling sites anywhere in the world to accept this method and they have done so ever since.
When you make any deposit into Betonline, you can expect to get a 25% bonus up to $1000 with some occasional promotions that go above and beyond that. Once you are signed up you can bet on everything that you can in Vegas plus a whole lot more. They have futures, props, and a whole lot more to keep bettors interested throughout the year. Overall, this is one of our favorite sportsbooks, they just happen to accept Bitcoin deposits. We are certain that you will be happy betting here. Visit BetOnline
5Dimes Sportrsbook - Avid Bettors Love Buying points + Using BitCoin Here!
5Dimes can truly be said to be an experience unlike any other, whether that is a good or bad experience is up to you to decide. For our part we enjoy the slightly more in depth sportsbook that has more wager types than most other websites. Another refreshing facet is the frequent reduced juice offers they run on almost every major sports event. These things set them apart from the competition but what really makes them innovative is their accepting BitCoins as a deposit and withdrawal method.
Not many other sites offer the ability to deposit into 5Dimes with BitCoin, but it is hard to argue that benefits of allowing it are huge. Besides attracting users of the growing currency, the lack of fees for depositing and withdrawing make it a tantalizing proposition for bettors who want to save some money. To top it off BitCoins are impossible to regulate under common national laws due to its lack of affiliation with any country in the world. You should check out both 5Dimes and BitCoins, both of which are growing by leaps and bounds.
Best Online Sportsbooks That Accept Bitcoins
|Bitcoin USA Sportsbooks||New U.S. Player Bonus||Go To U.S. Betting Site|
|Review||50% Up To $250||Visit Bovada|
|Review||50% Up To $1,000NEW!||Visit BetOnline|
|Review||50% Up To $1,000NEW!||Visit Sportsbetting|
|Review||50% Up To $520||Visit 5 Dimes|
|Review||100% Up To $500NEW!||Visit BetDSI|
As mentioned above there are several benefits to using BitCoins to deposit. Below some of the highlights are going to be covered and gone over more in depth. This section will make sure that if you intend on using BitCoins for online gambling then you can do so confidently, knowing all the ins and outs.
Fees For Using BitCoin To Deposit Into Online Sportsbooks
Perhaps the most beneficial part of BitCoins is that they carry with them no exchange fee or other deposit fee. Most of the times when you try and deposit money you often times charged a small fee in order to use a service that will help you circumvent restrictions put in place with the U.S. sports betting laws designed to complicate transactions.
Deposit Times When Using BitCoin
For busy people it is also nice to that BitCoins are extremely quick to be credited. While many services take up to 1 to 2 weeks to receive or process payment, electronic payment methods like BitCoin are able to be credited within an hour or two. Bitcoins are also at less risk of being lost due to their online nature. They are stored with you and directly transferred upon redeeming them.
sportsbook Security - Keeping Your BitCoin Account Safe
Beyond the usual security measures that reputable sportsbooks for USA players promise on any transaction. As such your transaction will not be subject to being sold away to a fraudulent or harmful location. Beyond that the security of BitCoins themselves is fairly solid. It is stored either on your computer, on a cloud, or even a USB stick. The wallet online can be hacked and the two on your computer can be deleted but those are extremely rare cases.
BitCoin Sportsbook Deposit Bonuses
Like any other currency BitCoin deposits are liable to bonuses. Meaning if you deposit using Bitcoins you can get bonuses like welcome + reload bonuses. Until BitCoin catches on it is unlikely there will be any special sportsbook bonuses using the method but be sure to keep checking with the known BitCoin betting sites. USAOnlineSportsbooks is also on the hunt + we'll update this page if something changes.
BitCoin Sportsbook Withdrawals - Using BitCoin For Sports Betting Pay Outs
Withdrawing with BitCoins is just as easy as depositing is, and can carry similar benefits. For instance BitCoins withdrawals are usually completely free of charge no matter how much or how many times you withdraw. A downside is that most sites require users to deposit with BitCoin in order to use it as one of the available betting payout options for users. If you can get a decent amount of BitCoins to deposit with then win with said money deposited you could easily increase the amount of BitCoins available to you.
Earlier it was mentioned that like any currency BitCoins value is subject to change. While you could lose value by withdrawing to BitCoins that decreased in value, it is also true that their value could sky rocket and you could easily see the money you withdrew double or triple in value. While it is still unclear what BitCoin’s future will be in online sports betting, it is clear that there are advantages to using such services.