Sports Betting with Bitcoin
We’re going to attempt to explain the benefits of Sports betting with Bitcoin below for those of your who are unfamiliar with the currency and it’s benefits.
But firstly we recommend watching the below video to get a grasp on what Bitcoin is.
Why Would I be interested in betting with Bitcoin?
- No more security checks from your bookmaker, we’ve all been there, you win big and just as you try to withdraw your Bookmaker is looking for copies of your Passport, Bank Statement and a copy of your debit card. This is not only inconvenient, it also puts you at a security risk. I won’t name names, but certain large bookmakers I have worked for have had their databases compromised.
- Ease of Transfers, Depositing and withdrawing funds are almost instant. you don’t have to wait three days for your withdrawal.
- Anonymity for a lot of Bitcoin sportsbooks you don’t even need to give your name let alone your address, date of birth, mother maiden name etc…
- Because of this anonymity is next to impossible to restricted on a market.
- You can bet from anywhere in the world. For most of us here in the UK and Ireland betting isn’t really a problem however in countries like Holland, Turkey, China, USA, France, and Poland there are serious problems trying to get your bets on due to laws in those Countries.
- Isn’t Bitcoin extremely unstable? Bitcoin has had some large fluctuations in the past (mostly on the upside) however as time goes on we see less and less volatility. at the time of writing the price of 1 Bitcoin us equal to $610
- You’ll pay a fraction of a penny for deposits and withdrawals regardless of how large they are, Some large bookmakers in Europe such as Bwin can take a considerable percentage of your deposit.
This all great but how can I actually use Bitcoins in the real world?
The are a number of ways to transfer Bitcoin into your currency of choice, but my personal favourite is to use Xapo.com and sign up for a visa debit card that’s backed up entirely by Bitcoin. This way you can easily move your winnings to your card almost instantly and then spend your funds as you see fit.
More and more vendors are now also accepting Bitcoin and Paypal will be rolling out Bitcoin payments in the very near future.
How can I buy Bitcoin with Paypal?
It’s quite straight forward just follow this guide that gives you step by step instructions.
The best Bitcoin Sportsbook?
Hands down in our opinion it’s NitrogenSports is the No.1 , They have a beautiful site interface and offer the same odds as most of the high street bookmakers. Imagine a bitcoin version of Pinnacle.
The only downside to Nitrogensports for me is the lack of Anytime Goalscorer markets and player props on the NFL, but I’m sure these will be introduced as time goes by,