How to Use Bitcoins at Online Sports Betting? - Coindoo

How to Use Bitcoins at Online Sports Betting?

Editorial Team Avatar
Jan 22, 2019
6 min reading time

Have you ever wondered if you can win at online sports betting using crypto? If so, you will learn how to do it in this article. There are some basic rules which can help you to master sports betting. Online gambling will have no secrets for you.

Bitcoins – Fast and Secure Payment Method

Firstly, if you really want to be a great sports bettor, you should opt for a quick and reliable payment method. Today it is possible to bet with Bitcoins during online gambling sessions. Cryptocurrencies provide safe and very discreet transfers. They are easy to use and offer various privileges. There is a multitude of betting sites that allow betting with Bitcoins.

As a great sports bettor, you should not just bet on one game. Aim for long-term bets and for this you will need enough funds in your account for all these online bets.

If you have just started in sports betting and you have no idea how much you need to put in your bank account, you can start with a first bet. Then multiply your first bet by 100 or the number of games in a season. Thanks to this method, you will have an idea of the amount of money that must always be in your BTC wallet or bank account. Naturally, nothing prevents you from having more, it would be even better.

What Are Bitcoin and Crypto?

Bitcoin and crypto, in general, are much more than digital cash. Bitcoin gives people the opportunity to realize economic self-determination. No one can censor a Bitcoin transaction. The power of money is being decentralized and democratized, thanks to the emergence and development of this cryptocurrency.

When you buy a Bitcoin, you must remember that each Bitcoin unit represents a unique virtual movable property. It is not a debt instrument, but a new digital asset. Bitcoin is inspired by the effect of gold and is therefore ideal to use as the healthy, secure digital cash. Just as with payments with regular currencies, an x number of bitcoin units of your wallet go directly to someone else’s bitcoin wallet. You can start such a digital Bitcoin wallet as the equivalent of an online bank account. The main difference is that you have the full control of your transactions.

Bitcoins are also defined as an ultra-secure payment system. Payments of all types are made transparently and anonymously.

Bitcoin is more and more popular in the field of online shopping. Online gambling sites also use crypto technology. Presently, there are many bookmakers accepting Bitcoin payments. It benefits those who don’t have the opportunity to pay (or do not want to spend) by credit card or bank transfer. But most players who use Bitcoin wallets do it to be anonymous and enjoy greater simplicity when making payments.

Crypto Gambling Sites

Bitcoin gambling sites were first introduced in 2008. Few people took it seriously outside the small community around the Bitcoin digital payment system. But within a few years, cryptocurrency had become an essential way for users to make purchases online and exchange money.

One of the most significant areas where Bitcoin can have an impact is the online gambling world. It is very attractive for players who want to sign up at online casinos, but do not want to share their financial information, do not have a bank account or credit cards. Although most gaming sites still do not accept this payment method, the number is growing fast. Making it an excellent alternative for more traditional deposit options.

Why Use Bitcoins on Gambling Sites?

People choose Bitcoin because it is a very safe online payment method. Your Bitcoin wallet is entirely anonymous. Everything you do with it is, therefore, not traceable. If you think your privacy is essential and, therefore, want to be able to make payments anonymously online, then you are indeed okay with Bitcoins.

Choose your favorite sports and bet with crypto

Once you’ve chosen the sports betting site, you must make your betting predictions. Predicting is merely trying to gather as much information as possible about the different matches or the match that interests you. For this, you must take into account several criteria that will help you get all the information you want. For example, If you are a soccer fan, watch soccer news very carefully and then make your predictions about specific events. You can transform your knowledge into real money, so it’s definitely worth trying!

To get to the heart of the matter, the odds of the sports matches will determine your ability to win a sports bet. Choose interesting odds and bet on value bets that are worth playing.

The odds offered by the bookmakers represent only the probability of the event that will take place. So if you feel that this event is more likely to happen than what the bookmakers have planned, then it’s a bet worth playing. Therefore, you will have a more interesting rating than it really is.

Bitcoin Gambling Sites

Many people like to be able to gamble anonymously on sports betting sites. But if you deposit money via, for example, your bank account or an online wallet, a third party intervenes and your anonymity is of course immediately gone. That is why more and more payment methods have come that can guarantee anonymity. Paying with Bitcoins in an online casino is currently the best choice for this. But what are Bitcoins exactly and how can you use it yourself? The Bitcoin is a form of electronic money with which you can make payments online without the intervention of a bank. It is simple and works much safer than if you would pay with your credit card or your online bank account.

How Can You Pay in a Bitcoin Casino?

To pay with Bitcoins, you will need to have Bitcoins first. You can buy them online and then store them in a digital wallet. With this wallet, you can receive, store and transfer Bitcoins to others.

You can’t pay directly with Bitcoins at many gambling sites. Sometimes you will need another digital wallet. Once you have created your Bitcoin wallet, you can easily make online payments, such as depositing money at an online casino.


Online sports betting is a simple way to earn additional income every month. However, you must at all costs avoid jumping into the water without taking into account all the possibilities that could guide you badly when it comes to your bets.

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
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