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Bitcoin first appeared in 2008 and we still don't know who invented it. Some think it was invented by a single person named "Satoshi Nakomoto", others by an anonymous group. Whatever the truth, this digital currency started a real revolution and created its own economic bubble. We have been able to purchase services and products online with Bitcoin (BTC) since 2009. An example of this is sports betting: There are many crypto sports betting sites that allow deposits and withdrawals with BTC and other cryptocurrencies, and the number of them is increasing.
It is not possible to give an exact date, but we can say that you have been able to bet on sports with cryptocurrencies since 2014-2015. BTC was the first currency supported by crypto sport betting websites, but this soon expanded to other cryptos such as Ethereum, Litecoin, Dogecoin, and Ripple. If you want to be a part of this revolution but don't know where to start, this guide is for you. Below, we will both talk about what you need to know about blockchain technology and explain what to expect from betting with crypto experience.
We need to start talking about crypto sport betting with the basics, and for this, we need to briefly talk about how blockchain technology works. Because there are currently two different types of services on the market: bookmakers that accept cryptocurrencies only for payments and actual crypto sports betting bookies: to understand the difference between them, you first need to learn what they mean.
Whatever its name, every cryptocurrency has a blockchain. You can simply think of it as a digital and encrypted database. In first-generation cryptos like Bitcoin, this database is only used as a kind of "ledger" to process money transfers. That is, it does nothing but store users' BTCs, transmit Bitcoins from one user to another, and encrypt the transaction.
Blockchains of modern cryptos such as Ethereum are more advanced and can host & run even complex applications. For example, you could write code that makes a transfer happen automatically when a certain action occurs (i.e., the bet is won) and upload it to the Ethereum blockchain. Once the specified action (winning the bet) has taken place, the bettor will receive his payment instantly without any approval. This is called a "smart contract". The Ethereum blockchain can store many other things as well. For example, you can make a website run entirely on this blockchain: websites are just a set of code, images, and files, all of which can be uploaded to the blockchain.
Blockchains - are databases stored on users' devices: they do not have a fixed server. For example, let's say there is a cryptocurrency called "ABC" and it has a thousand users. The ABC blockchain is stored and verified on a thousand different devices. The advantage of such a system is that no one can take control: if this database were stored on a physical server, someone with access to that server would be able to take control. But the absence of such a server ensures that there is no central authority: this is why cryptocurrencies are "decentralized". So, how does this affect crypto sport betting?
Online bookmakers existed before Bitcoin was invented and allowed deposits & withdrawals with traditional payment methods (credit cards, e-wallets, bank transfers, etc.). When Bitcoin, and with it the crypto betting revolution, began, these bookmakers had to make a choice: they could move their entire infrastructure to the blockchain and completely change the way they work, or support cryptocurrencies only as a payment option.
The vast majority of online bookies preferred the latter. They made no changes to the way they work; they just downloaded a crypto wallet like any other user and got a blockchain address. This allowed them to accept deposits with BTC and other cryptos. Likewise, it was possible for them to send money to other users with crypto wallets. But other than that, they didn't make any changes: they joined the blockchain revolution simply by supporting these digital currencies. It is possible to call such services "sport betting with crypto": they only support cryptocurrencies for payments. But because they haven't made the necessary infrastructure changes, they are converting crypto deposits into Fiat currencies. So, for example, you can deposit with BTC, but your balance and bets are converted to a currency such as EUR, USD, or GBP at the current exchange rate. So, you are not actually "betting with crypto", you are just making a payment. They have to do this because they are not part of the blockchain: in this context, we can say that they treat cryptos like any other currency.
However, there were also crypto betting sites that moved all their infrastructures to the blockchain. These crypto sport betting sites no longer have a fixed server, do not need a license, accept anonymous users as members, and offer much lower margins. In other words, they offer the real online crypto sports betting experience. Below, we will provide more information on the differences and advantages/disadvantages between these two types of crypto betting.
It is always better to play on a crypto betting site, as you have the chance to use every advantage that blockchain technology has to offer. These advantages not only enable you to have a better overall betting experience but also offer increased security and privacy. Below, we explain the advantages of crypto sports betting by comparing it with traditional betting. However, keep in mind that most of the advantages listed here only apply to the real crypto betting sites we mentioned above. Bookies that only support cryptocurrencies as a payment option cannot offer many of these benefits.
In some countries of the world, it is prohibited to send money to or accept payments from betting sites. The government can easily prohibit you from doing this due to local policies, as all it has to do is send an instruction to the banks on the matter. All the traditional payment options, without exception, use the global banking infrastructure, which means you have to use a system controlled by governments and private companies to make deposits or withdrawals. These authorities can block your transfers for any reason, and you have to share your personal & financial information with someone every time you make a money transfer.
Crypto betting is not like that: all transfers take place via a digital database called the blockchain and this is not controlled by any central authority. These transfers are also encrypted, so you don't have to share your personal and financial information. You cannot be prevented by governments or banks from sending money to or accepting payments from crypto sports betting sites. As long as you have internet access, you can transfer money and you do not use the banking infrastructure for this. Therefore, crypto betting gives you financial privacy and independence above all else. You can find this advantage in crypto sport betting sites that work on the blockchain and offer cryptocurrencies only as payment options.
Payment methods supported by traditional bookmakers are generally satisfactory in terms of transaction fees, but as the amount transferred increases and more secure options are preferred, you may have to pay very high fees for each deposit or withdrawal. For example, you may be asked to pay a fee of up to 40 USD for an international Wire transfer: you pay this to the bank, not to the bookmaker.
Crypto betting transfers have much lower fees. If you choose the right crypto and the right time, it is possible to transfer even huge amounts with very little transaction fees. However, you need to pay attention to two things here: Fees of popular cryptos like Bitcoin/Ethereum will always be higher. Cryptocurrencies such as Litecoin and Dogecoin are designed to require much lower fees, so consider how much you need to pay for every transfer when choosing a sports betting crypto coin. Second, keep in mind that crypto fees are not fixed. The transfer fees of cryptocurrencies are determined by how busy the blockchain is at that moment and therefore change constantly. In other words, there are no fixed costs. We are sharing a table below so you can have an idea, but the numbers here represent the average values. You can check the variability of transfer fees from third-party sources. Once again, this advantage is available in both types of crypto sport betting sites.
| Currency | Transfer fee |
|---|---|
| BTC | 0.00005 BTC ($1.48) |
| ETH | 0.0045 ETH ($8) |
| DOGE | 1.14 DOGE ($0.092) |
| LTC | 0.00016 LTC ($0.0099) |
Betting with crypto allows you to make withdrawals much faster. Contrary to popular belief, using a sports betting crypto coin does not increase the deposit speed, and may even cause them to be slower than traditional payment methods. This is because blockchain transfers offer the same processing time for deposits and withdrawals, and it takes a certain amount of time to verify each transaction. For example, an ETH transfer (whether it is a deposit or withdrawal) will always take between 15 seconds and 5 minutes. Whereas deposits you make with a credit card will be instant, but withdrawals can take days.
Crypto betting sites complete all money transfers in the same amount of time, whether you are sending or receiving them. What's more, there is no need for "approval": crypto sport betting sites that run on the blockchain have smart contracts, so when you win your bet, you are automatically paid instantly. This allows you to get much faster payments overall and you will see the effect of this most when withdrawing from a crypto betting site. To give you an idea, we list below the average times for crypto transfers: you can expect to see the same periods at crypto sports betting websites. Note that this advantage can only be obtained at a crypto betting site that operates on the blockchain.
| Currency | Average transfer time |
|---|---|
| BTC | Up to 1.5 hour |
| ETH | Up to 5 minutes |
| DOGE | Up to 1 minute |
| LTC | Up to 8 minutes |
If you're a high-roller who likes to bet big amounts, you also know that traditional bookmakers have maximum deposit/withdrawal limits. Most bettors don't realize that every traditional payment option has a maximum limit until they get a big win. If you're a VIP member these limits will be slightly higher, but a maximum limit will be unavoidable anyway. What's more, even if you don't realize it, every traditional bookmaker has an overall maximum payout limit (100,000 EUR/USD for most bookies). Even if you win more, they won't pay more than that.
There are no such limits on a crypto betting site. Maximum limits are set by the blockchain, and currently, theoretically, no cryptocurrency has a maximum transfer limit. With all sports betting crypto coin types, you can withdraw money without being restricted to any maximum limit. However, this advantage only applies to bookmakers and crypto sports betting exchange sites that work on the blockchain. Trusted betting sites that offer betting with crypto option only with payment methods will still have certain min/max limits.
The most impressive aspect of the sports betting Bitcoin experience is that it gives bettors real freedom. Traditional bookmakers hold a license, and this license obliges them to accept members only from certain countries, verify the identity of these members, and record every transaction made. So, you have to share your credentials, and which bookmakers you can play on is determined by your geographic region. This also applies to crypto sports betting sites that only offer cryptos as a payment option.
However, a crypto betting site that works on the blockchain does not need any of these. It accepts members from all over the world and does not ask these members to share their identity information. You can become a member of a crypto betting site with only one email account. You will not be asked to verify your identity or geographic location. This is because sports betting with crypto does not require a license and there is no authority to license a crypto betting site that works in this way. All licensing authorities require financial transfers to be audited and authenticated. However, the difference of sports betting Bitcoin is that it is already anonymous and does not have such restrictions. You can play anonymously from anywhere in the world on a crypto betting site. In other words, you don’t need to search specifically for "crypto betting Australia", for example: there are no country restrictions.
All bookmakers have betting bonuses, but how good and useful they are will depend on the content and terms of the offers. For example, a traditional bookie will most likely offer a match bonus for your first deposit and give you free bet bonuses for your next deposits. You can also join a loyalty program and unlock similar promotions.
You can find the same bonuses and programs on a crypto betting site, but their content and terms will be much more advantageous. First of all, you can earn a lot more with a sports betting Bitcoin bonus: these bonuses will allow you to get more because they will be in crypto too. For example, at some crypto sport betting sites, you can even find promotions that allow you to deposit 1 BTC and earn a 5 BTC bonus. Wagering terms will be fairer and allow you to use part of the bonus even before it is fully completed. For example, after completing 10% of the wagering requirement, you can start using 10% of your bonus as well. Overall, online crypto sports betting bonuses are bigger & better.
You know what a betting margin is: it determines how much the bookmaker will win on the bets, and it should be as low as possible. The margins of traditional bookmakers accepting PayPal usually vary between 5-7%. This is because their operational costs are very high: the bookie has to include these costs in the margin as well. A crypto betting site, on the other hand, has much fewer operational costs because blockchain reduces or eliminates many of them. In this way, the best crypto sports betting sites can offer margins as low as 1%.
Whether you prefer a regular betting sites horse racing or a crypto sports betting exchange, your overall experience will be much faster, safer, and more satisfying. Lower margins, higher odds, instant payouts, and a bookmaker who doesn't care about your identity: you can get all of these and more with sports betting with crypto. To remind once again, most of these advantages can be obtained from online crypto sports betting sites that work entirely on blockchain. Playing on a crypto betting site like this may seem a bit unusual until you get used to it, but given the benefits you'll get, it's sure to be worth it.
Sports betting with crypto has some indisputable advantages and we have listed the most important ones above. Crypto betting has the potential to significantly change this experience, but some things never change: the requirement to play at the best crypto betting sites to get the best possible experience is one of them. In other words, every crypto sports betting site is not "perfect" just because it uses blockchain technology, you still need to search for the best crypto sports betting sites.
Doing so can be challenging for someone new to crypto sport betting. But don't worry, we are ready to help you find the best Bitcoin gambling sites. Below, we talk about what you should consider when evaluating a crypto betting site. You can easily find the best crypto betting sites by choosing according to these criteria.
This criterion does not matter if you are going to play on a crypto betting site that runs fully on the blockchain. But if you're not ready to do that yet and want to play on bookies that only support cryptocurrencies as a payment option, you should first check out the list of restricted countries. Such crypto sports betting sites have a license, and they can only accept members from certain countries. For example, an MGA licensed crypto betting site cannot accept members from the United Kingdom. Therefore, first make sure that you can register with the site or the crypto sports betting exchange you choose: making a search like "crypto betting Australia" will be beneficial in this regard.
Whether you prefer traditional or blockchain-based crypto sport betting sites, security and reputation should be your most important criteria. The best crypto sports betting sites always have a good reputation among bettors. You will have much fewer problems with betting sites low deposit like this, and if there is a problem, you can be sure that it can be resolved. In this regard, pay particular attention to user reviews: the best crypto betting sites will have more positive comments and negative comments will be answered by site representatives. In addition, make sure that every page of the crypto betting site is encrypted with SSL.
And, of course, no matter what kind of crypto sport betting websites you prefer, you are here for placing bets, so make sure to check available sports, lines, and odds too. Remember to evaluate available sports based on your regional needs too. For example, crypto betting Australia sites must support national and local leagues in this country (i.e. AFL). When evaluating betting options, consider not only ante post bets, but also live bets. Can you place both classic and exotic (i.e., Asian handicap) wagers? And, of course, consider the odds: remember that the best crypto sports betting sites have lower margins and therefore can offer higher odds. In other words, crypto sports betting websites should be able to offer more than the industry average.
This is a criterion that changes depending on what kind of online crypto sports betting experience you want. If you choose to play on bookies that only offer cryptocurrencies as a payment option, you cannot be anonymous: you have to share and verify your personal information. However, there is no such requirement in crypto sports betting sites running on the blockchain. If you care about staying anonymous, choose from among the best crypto betting sites that offer this option. Simply by clicking the "register" button, you can see how anonymous you can really be: if the bookmaker asks for your first and last name, for example, you cannot expect to play anonymously. The best crypto sports betting sites assign you a random username with just a click of a button and allow you to start playing directly.
Start by reading the terms and conditions of the crypto sports betting site. The most important thing to consider here is what the account opening and closing conditions are. These terms will determine how anonymous the betting with crypto experience will be. Read this document in detail and learn about the scope and limitations of the online crypto sports betting experience offered by the bookmaker. After that, go to the payouts page and look at the min/max limits, supported sports betting crypto coin types, and payout speeds. If you are playing on a traditional bookie that only supports crypto payments, the payout speed should be under 24 hours. At the best crypto betting sites, this takes a few hours at most.
Above, we talked about how bonuses can enrich your betting with crypto experience. Therefore, check out all available crypto sport betting bonuses. The best crypto betting sites offer multiple promotions to both new and existing members. Make sure you can get a bonus for your first and subsequent deposits and that they are also defined as a sports betting crypto coin. So, if you have deposited with BTC, for example, your bonus should be in BTC too. Also, read the terms of use for each bonus and make sure they have fair conditions (especially in terms of wagering rate).
Above, we talked about what to expect from the crypto betting experience and how to find the best bookies in Australia that offer this service. So, if you are new to crypto sports betting sites, how can you start playing? This is not a very difficult task if you know what to do. To summarize simply, it will be enough to buy crypto from exchange sites, get a wallet, and make payments using that wallet. Below, we explain this process in detail.
If you want to play on a crypto betting site, you must first own a cryptocurrency. You can do this through exchange sites. You can think of these sites as "marketplaces" that bring together people who want to sell their crypto and those who want to buy them. For example, someone who owns 1 BTC can list it on an exchange, and anyone can buy it at the specified price. Moreover, the buyer can do this with traditional payment methods: exchange sites also support payments by credit cards and bank transfers. In short, it is possible to buy Bitcoin or any other crypto using your credit card or bank account: all you have to do is find an exchange site and sign up. To get you started quickly, we're sharing a list of the most popular exchanges below.
| Exchange name | Website URL | Country of foundation |
|---|---|---|
| Binance | binance.com | Cayman Islands |
| ByBit | bybit.com | Singapore |
| WhiteBit | whitebit.com | Estonia |
| Coinjar | coinjar.com | Australia |
| Swyftx | swyftx.com | Australia |
| Easy Crypto | easycrypto.com | New Zealand |
| TimeX | timex.io | Australia |
Whichever cryptocurrency you prefer, you will need a blockchain address to send and receive payments. For practicality, you can think of this address as an IBAN number. It cannot be used to identify you and consists of a series of letters/numbers, don't bother memorizing it. Digital wallets will give you this address. There are dozens of digital wallets available on the Internet that you can use absolutely free of charge, and you can choose any of them. We recommend starting with these options:
After choosing a wallet, download and install it on your computer/mobile device. Launch the wallet: you will see your blockchain address. In the next step, go back to your account on the exchange site and send your purchased crypto to your blockchain address. Your balance will be transferred to your digital wallet shortly. Now, you own your crypto and you can use it as you wish.
The rest is simple: you will use your wallet and blockchain address to deposit and withdraw at crypto betting sites. Let's explain separately:
The cryptocurrencies you can use for crypto betting are determined by the bookmakers. So just because a bookie supports crypto payments doesn't mean you can use any currency. Bitcoin, Ethereum, and ETH-20 tokens are the most common options. You can also find support for Litecoin, Bitcoin Cash, and Dogecoin at most bookmakers. Bookies that support other currencies are few in number, but these options are more than enough to have a smooth and enjoyable experience.
We mentioned above that there is no maximum payout limit for crypto betting. However, crypto bookmakers are still free to set the minimum amount that can be deposited on their site. In other words, each crypto bookie sets the minimum deposit amount it will accept from its customers. For this reason, there are no fixed limits that apply to all crypto sports betting sites. To give you an idea, we list below the most common minimum deposit limits on the crypto betting websites. However, please note that each site may set a different limit: you can see the current figures on the "payments" page of each bookie.
| Minimum deposit amount | |
|---|---|
| BTC | 0.0001 BTC |
| ETH | 0.01 ETH |
| LTC | 0.01 LTC |
| DOGE | 1 DOGE |
Crypto betting is compatible with all mobile devices. In other words, you can play at any crypto sports betting site, regardless of your operating system, and you can do it with just a browser: you don't need to use an app. However, most bettors prefer to use an app for crypto betting due to habits and some advantages. Therefore, in this part of our guide, we will list some of the best crypto betting apps and briefly review them.
However, do not forget that the crypto betting applications listed here belong to traditional bookies. In other words, none of them are developed by crypto sport betting sites that work entirely on the blockchain. There is a simple reason for this: as we mentioned above, such bookies do not have a license, and official best betting App in Australia stores do not list their apps for this reason.
The legality of betting depends on the laws of individual countries, not the blockchain technology or available payment options. If betting is considered illegal in your country, crypto betting will be illegal too. However, this type of betting cannot be restricted by countries, as it is impossible to block blockchain transfers.
No, bet365 does not accept Bitcoin or any other cryptocurrencies. However, some of the payment methods supported by bet365 let you use them. For example, Neteller supports buying and selling cryptocurrencies, so you can top up your Neteller account with Bitcoin, for example, and use it to deposit at bet365.
This is because betting with crypto has lots of advantages: you can stay anonymous, enjoy lower margins & higher odds, make fast and secure payments, and protect your privacy. Plus, you won’t have to deal with restrictions of local governments. With all these benefits, crypto betting is really the future of the sports betting industry.
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