Bitcoin betting sites & bookmakers that accept Bitcoin deposits

Bitcoin general info. What is Bitcoin

Bitcoin - is a digital currency invented in 2008. Its purpose is to establish a payment system independent of the banking system. There is no central authority (e.g., Central Bank) controlling this system. Bitcoin uses a digital and encrypted database called the "blockchain". All transfers take place on this database and sender/recipient identities remain confidential. New Bitcoins are generated by users through a method called "mining" and anyone can join this system using a wallet. Bitcoin brand new bookmakers are sportsbooks that accept payments made using this digital database and pay with the same database: they are no different in terms of their functioning (i.e., betting markets and/or wagering rules).

How to deposit via Bitcoin

To start playing on Bitcoin betting sites, first of all, you need to own BTC. The easiest way to do this is to get a wallet and use an exchange site. To explain this process as simple as possible:

1. Start by downloading a digital wallet that you can use to store Bitcoin. There are many wallets on the market that you can download for free, and you can choose any of them. We recommend choosing a beginner-friendly wallet with mobile support: wallets like Electrum, Mycelium, and Exodus would be a good choice.
2. Choose an exchange site and become a member. In this regard, you can choose freely, but we recommend you choose big platforms such as Binance, Coinbase, and HitBTC. Exchanges are marketplaces that bring together crypto holders and people who want to buy them. For example, someone who owns Bitcoin offers their BTC for sale on the exchange, and anyone can buy them using Fiat currency and traditional payment methods. This means that you can buy any amount of Bitcoin via exchanges using your credit card, for example. In this regard, we recommend that you decide according to your budget, but purchasing 0.20 - 0.50 BTC will be a good choice for a start.
3. Open the wallet you downloaded and see your blockchain address: it's a string of letters and numbers, and you can think of it as your IBAN. Go back to the exchange site and transfer your purchased Bitcoins to this address. In about an hour, the transfer will be completed, and your Bitcoins will be credited to your wallet.

Once you have done this, choose one of the Bitcoin betting sites and become a member: we strongly recommend that you choose from the list we shared above. The process will be much simpler after that:

1. Open your account page, click the "deposit" button, and select Bitcoin from the available options.
2. When you do this, you will see the blockchain address of the betting site.
3. Open your wallet and transfer any amount of BTC to this address.
4. The transaction will be completed in about 20 minutes. That's all: now you can start trying your luck.

How long do Bitcoin payments take

This is a question that does not have a definite and clear answer. Contrary to popular belief, Bitcoin transfers are not instant. This is due to a security problem called "double spend", and to solve this problem, each transaction needs multiple confirmations from miners. A transaction is completed usually after two or six confirmations, and each confirmation takes approximately 10 minutes. This means that a Bitcoin transfer will take between 20 and 60 minutes.

This also applies to payments you send to (or come from) Bitcoin betting sites. Most merchant payments are completed after two confirmations and gambling payments are also considered in this category. For this reason, you can expect Bitcoin betting sites to complete their payments within an average of 20 minutes.

However, all these times are valid for ideal conditions. Bitcoin transfers can take much longer than usual due to different reasons such as hash rates, spam attacks, and network load. Simply put, the technology that Bitcoin uses can confirm a maximum of 7 transactions per second. If more confirmation requests are received than this figure (more than seven transactions per second), transaction fees will increase, pending requests will be placed in a queue, and the transaction will take longer than usual to complete. According to available records, the longest Bitcoin transfer ever took 6 hours and 2 minutes to complete. (In case you were wondering, the shortest Bitcoin transfer was completed in 2 minutes.)

Under normal circumstances, you can expect your payments (deposits & withdrawals) made at Bitcoin betting sites to be completed within a maximum of half an hour. But keep in mind that there are different factors that can affect the processing time. For example, having a pending wagering requirement may also extend the payment period.

Deposit limits for Bitcoin payments

Bitcoin is not subject to any transfer restrictions, unlike other payment instruments (e.g., banks). There are 21 million BTC in the market, and if you have them all, you can send them all at once. The deposit limit is limited to the BTC in your wallet – other than that, the blockchain does not restrict you in any way.

However, Bitcoin betting sites may have their own limitations. The most common example of this is the minimum deposit limit. A Bitcoin sportsbook can accept a minimum deposit of 0.01 BTC, for example. That doesn't mean you can't send less BTC than that to that sportsbook's wallet: there's nothing stopping you from doing that. However, that sportsbook may choose not to add it to your balance unless you send at least 0.10 BTC. Bitcoin betting sites have different minimum deposit limits, and we strongly recommend that you learn about them before making a transfer.

You don't have to worry about maximum deposit limits: None of the Bitcoin betting sites have a maximum limit. There will always be a limit on the minimum BTC you can send, but there is no bookies limit for the maximum amount. If you want, you can even send 100 BTC at once: Bitcoin betting sites will not object to this. However, if you want to play really high stakes, we would like to remind you of two things:

• At the time of this guide, 1 BTC was worth 21,793 USD. If you are really ready to deposit 1 BTC and above, first contact the customer representatives of Bitcoin betting sites and find out what perks you can get. Bitcoin betting sites love high-roller customers and offer special bonuses to them. Remember that if you deposit large amounts, you can get special benefits for it.
• Another thing you should not forget is that Bitcoin betting sites have maximum payout limits. You can see what this limit is in terms and conditions of use, but in general, we can say that it is 1,000,000 AUD. In other words, no matter how much you earn with your bet, you will not be paid more than this limit – you forfeit the rest. Therefore, take this maximum payout limit into account when determining your deposit and bet amounts.