Pros and Cons of Cryptocurrency Gambling

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Bitcoin betting has become very popular, and for good reason. There are many advantages to using the most popular cryptocurrency currently on the market. Check out the benefits of using BTC to bet on sports and you will realize that it is the best way to bet on your favorite teams.

Advantages of betting with Bitcoin

Let’s list why you should use a bookmaker or casino that accepts cryptocurrencies, either for deposit or also offers the possibility to play directly with Bitcoins instead of exchanging what you deposited to a government currency.

Close to Zero Commissions

Buying Bitcoin and converting it back into fiat currency costs a small percentage per transaction, but once the currency has been purchased, commissions are minimal. BTC transactions cost a few cents in most cases. In addition, sportsbooks do not charge commissions for depositing and withdrawing money with Bitcoin and other cryptocurrencies.

Faster and safer deposits with Bitcoin

  • Using Bitcoin at your bookmaker has a significant advantage when it comes to processing speeds. The best BTC gambling websites process payouts within seconds and some have instant withdrawals.
  • Depending on the speed of the blockchain, BTC transactions between addresses can take a few milliseconds, those speeds are unheard of when it comes to regular payment methods.
  • Bitcoin withdrawals also have a significant advantage when we look at processing speed. Although in withdrawals the delays come more on the part of the operator, who takes more or less time to process the request, than on the part of the chosen payment system.

Best bonuses and promotions

There are many bookmakers that reward their users for using bitcoin and other cryptocurrencies to place their bets. You will get an extra on top of the bonus or a higher bonus for using cryptos in the bookies we promote.

Higher limits to play with

Due to the security of bitcoin transactions and, in general, all cryptocurrencies, bookmakers and casinos that accept them do not usually put limits on deposits or on the amount played by the user at the casino tables or betting on their favorite sports. In some cases they do set limits but they are much higher than when playing with conventional currencies.

Transactions very close to anonymity

Many people will tell you that Bitcoin is anonymous but that’s not exactly true. Your activity can still be seen on the Blockchain and transactions could be traced back to identify the person. However, this would take quite a bit of work, and unless you are doing something illegal (betting with bitcoins is perfectly legal), there is little reason for anyone to search your transaction history. Some bitcoin sportsbooks don’t require bettors to have an account, you won’t have to give your name or address.

If you don’t have bitcoins you can buy them directly

The bitcoin bookmakers themselves allow bettors to make a deposit using normal currency and they are the ones who update our balance in Bitcoins directly. It’s that easy. While the ideal is to make a deposit from our Bitcoins Wallet we can use this convenient process to deposit. It can be a deposit option if for any reason we prefer not to touch the balance of our Wallet at that moment.

Disadvantages of betting with Bitcoins

Not everything is going to be beneficial if we are going to bet with cryptocurrencies. There are disadvantages that we are going to see in the following points.

Bitcoin price volatility

Bitcoin has been one of the best investments in recent years, but it is prone to price fluctuations. That can be a negative for some. We are making sports bets with Bitcoin, but our profits may depend on the rise or fall of the BTC price every day or even every hour. This is true as long as we think about the Bitcoin-Euro exchange rate. But if we bet with Bitcoins we should not think about the exchange rate but how many bitcoins we deposit and how many we have.

This is undoubtedly the biggest disadvantage of using this cryptocurrency. A price crash can make you lose a part of your profits. Of course, this can work the opposite way, where an increase in price would see your net worth grow. Comment that since August 2019 bitcoin has been stabilizing in a range that leaves this volatility aside, so one less thing to worry about.

How to bet with bitcoin?

If you have decided to bet with the trendy cryptocurrency, we recommend you to choose one of the bookmakers and casinos recommended in this article. We can leave your choice on the first three options,, or 22bet. Check out the Casinobtc reviews, if you prefer bookmakers like Nitrogensports, that also have a casino.

The first two are bookmakers and casino platforms specialized in cryptocurrencies. With a modern and fully functional software that we love to place our bets, we have tested both and the difference is minimal. When we want to withdraw our bitcoins they do it instantly. The 22bet bookmaker is different as it is a bookmaker focused on USD and EUR but also accepts some cryptocurrencies. Like its competitors, Bitcoin withdrawals are immediate.

To bet with bitcoins we need to create an account at the chosen bitcoin bookmaker and make a first deposit in our wallet. From then on we will have a bankroll to bet in BTC. Everything works exactly the same as with bookmakers with non-digital currencies.

FAQ Betting with Bitcoin

Betting with BitcoinIn the following points you can see a series of common questions from users who visit us and some received on social networks about betting with cryptocurrencies and in particular betting with Bitcoin.

How do Bitcoin bookmakers work?

The difference between the usual bookmakers with Euros or USD and those using cryptocurrencies is precisely this. There is no further difference in relation to the markets and sports available or how bets are placed.

Do bookmakers still offer their service during the pandemic?

The industry is suffering but there are still enough bets to make. There is an informative article about it at

Is it true that withdrawals are faster?

We are increasingly seeing bookmakers execute withdrawal payments from their users with greater speed. We have gone from days a while ago to hours or even minutes. But in the case of cryptocurrency bookies this is immediate. You transfer the money from your account to the wallet with your chosen crypto address for withdrawal in seconds.

Can I trust bookmakers with cryptocurrencies?

In this case it happens as in all types of bookmakers and casinos. There are good ones and bad ones. What is certain is that the ones presented here we have not presented any problems to users since they started.

Which Bitcoin bookmaker to choose?

As we mentioned in the article, you have several options depending on whether you want a quality casino or not. In principle we recommend, sportsbetio and 22bet. With a slight preference for

Do the ups and downs of bitcoin influence my money?

They do not affect your money insofar as if you have 0.12 bitcoins in, for example, sportsbetio, you will have the 0.12 bitcoins available as long as you do not bet or make a withdrawal. However, if the BTC/EUR exchange rate changes, your balance in Euros will change even if you don’t touch the deposited amount.

Do I get a better welcome bonus for playing with bitcoins?

Yes, most of the bookies that allow the use of cryptocurrencies have much higher welcome bonuses. In some cases reaching 0.6 BTC.