Unless you have been living under a rock lately, you are aware that cryptocurrencies are at a fast pace to become one of the most popular payment methods in sports betting. You might have heard about Bitcoin, but there are other digital coins, which present even better alternatives. Ethereum, Litecoin, and Dogecoin are all rising in crypto sports betting. Bettors prefer crypto as it offers anonymity, near-instant withdrawals and under-the-radar gambling.
There are more possibilities and ways crypto bookies can benefit you; fast registration, very low deposit limits, better security and in some cases, better bonuses. Be aware; there are many bookies out there who want to scam you; that’s why we have used our rating model to include the best and most trusted crypto bookmakers.
Best Crypto Bookies for 2022
In our list, we have reviewed the best crypto bookies with certain essential traits; We rank them considering whether they are fiat or crypto-only, the type of bonus offered, whether crypto or conventional, the number of coins accepted and of course, their reliability. After checking our list, let’s proceed and elaborate further on the differences between traditional and Crypto Betting Sites.
Fiat vs. Crypto Bookmakers: What is the difference
There are two kinds of Crypto Betting Sites. Those who have been around for a long time using predominantly fiat, meaning traditional currency. These bookmakers have added cryptocurrency as an extra payment option. That is because they recognize the potential and how powerful it is as a banking method. By default, these bookies convert your crypto to fiat for your every deposit. For example, when you deposit Bitcoin on such a sportsbook, they convert it to euros in your bankroll. This way, they protect you from any potential price swings that Bitcoin is so infamous for.
Keep in mind that under anti-money laundering practices, you will not be able to deposit crypto and withdraw fiat on such bookmakers. On the other side are the bookmakers who have been solely focused on crypto, accepting nothing else as a payment method. This type of bookmaker allows you to keep your bankroll in crypto for the whole time. And obviously, the crypto bookmakers only offer withdrawals in crypto. Let us go through all the advantages and disadvantages of opting for crypto sports betting.
What are the advantages of Crypto sports betting
As briefly mentioned, there are key advantages to using crypto for your bankroll. In essence, crypto allows for fast withdrawals, lower fees and a great degree of flexibility on your deposits and withdrawals.
✔ Processing times are faster
The main characteristic of most cryptocurrencies is that transactions are executed without intermediaries. When you send your money to the crypto sportsbook, there is no bank or third party to process the transaction. It is executed directly from you to the bookie. That way, the speed of execution is unparalleled, especially with some altcoins in particular.
✔ Certain options offer very low fees
Same as with increased speed, cryptocurrencies come with very low fees. However, it is currently not exactly cheap to transact in Bitcoin and Ethereum. Their rise in value and usage has resulted in a bustling network, which in turn comes with raised fees for using it. No worries though, alternative options such as Dogecoin and Ripple XRP come with unbelievably low fees.
✔ Security and Transparency on the Blockchain
One of the main revolutionary aspects of cryptocurrency is the blockchain. Even though each crypto usually has its own blockchain, the common fact is that everything is recorded there and is publicly accessible forever. No one can dispute your transaction.
✔Fast Registration on every Crypto Sportsbook
The decentralized and anonymous nature of crypto allows for ultra-fast registration. In Crypto only Sportsbooks, you do not have to go through KYC verification processes to verify your account; all you need to have is an email address and you can create your account in mere seconds.
✔ Lower Deposit & Higher Withdrawal Limits
Payment processing partners do bind bookies with limitations. In crypto, transactions are executed without intermediaries; you can have deposits as low as one dollar and the best part, there is usually no limit to the withdrawal amounts.
✔ Carefree Withdrawals
Once you confirm your withdrawal, it literally takes minutes for your gains to be transferred to your personal wallet. Yes, you still need to wait for approval in bookmakers accepting crypto. But, compared to conventional bookies, there usually is far less processing time for your cash out to go through. Nevertheless, note that sometimes bookmakers process the withdrawals manually. Meaning you may have to wait for a day or two after all.
✔ Second to none level of privacy
The pseudonymous nature of how cryptocurrencies work provides an unheard-of level of privacy. You never share any personal details apart from your personal address for each coin. As long as these two are not linked together, you are completely anonymous. Keep in mind that conventional bookies that offer crypto as a banking method will still require KYC verification, especially in withdrawals.
✔ You can bet from anywhere
Almost all cryptocurrencies are decentralized, meaning they are not tied into a specific jurisdiction. Hence, apart from some exceptions, no laws prevent you from accessing them, even if traditional bookies are forbidden in your country. This means that you can access and use any bookmakers accepting crypto from almost anywhere in the world. From their end, crypto makes it easier to be accessible to you without fear of losing their licenses.
Why you should avoid using a Crypto Betting Site
Despite the many advantages of using a crypto betting site, there are certain disadvantages; While there are not many, they are considerable and should weigh in equally on your decision. Let's dive in.
❌ Difficulty of the Process may be discouraging
You need to have a certain level of familiarity with technology to use and store cryptocurrencies correctly. Fear not, though; it is not quantum physics level of difficulty by any means; you simply need to familiarize yourself with an entirely new process of transacting monetary amounts.
This word goes hand in hand in any conversation revolving around cryptocurrencies. As with every new market, the fact that we are still at its very early stages means a certain degree of volatility exists. This effectively means that cryptocurrency prices often fluctuate violently in price and when this happens to the downside, it may chop up your profits and bankroll severely.
❌ Regulation could be around the corner
Another fact about new markets such as cryptocurrencies is that regulation has not been fully implemented around them. For the time being, cryptocurrencies are unregulated. But there is a decent chance that a potential harsh regulatory framework will hurt their price and subsequently your gains.
❌ Hard to keep track of your PnL in crypto
This is a tricky one. All cryptocurrencies have vastly different prices than traditional currencies. Add also the fact that they are much more divisible than, let’s say, euros or British pounds; all this makes it hard to distinguish between whether or not your bankroll is in profit or a loss and how much its value deviates from your actual money.
❌ A constant need to stay crypto educated
To increase your chances of success and fruitful gains, you need to be able to follow crypto markets closely. This way for example you will not be left holding worthless coins in case their value drops to near zero overnight. This is more likely than not in cryptocurrencies other than Bitcoin, Ethereum and a couple of others.
Crypto itself is secure and legal. However, crypto-related business and practices are regulated differently around the world. It mostly comes down to whether it is legal to gamble in your country. This means that as long as crypto betting sites possess an offshore license and offer crypto as payment, they can still be accessible to regulated markets. Taxes are also a mixed bag.
Mainly depending on tax law regarding capital gains in your country. Of course, if you keep your funds in crypto and do not sell them in fiat, you will not be taxed by anyone, most likely. Additionally, crypto is not tied to banks; you do not have to pay taxes on gambling winnings. A good practice is to contact the bookmakers’ customer support and ask; Even better, consult a professional.
How to start playing on Crypto Bookmakers
Betting on crypto bookmakers is pretty straightforward, but you need to pay attention to details. Cryptocurrencies allow a bypass to intermediaries, banks, payment processing services. That means you are entirely responsible for your funds and their safekeeping. Consequently, mistakes may cost you dearly. For example, if you send your Ethereum to a BTC address, you will lose your funds forever. No worries though, we will guide you through everything. We start by pointing out a couple of things you should focus on when searching for the best crypto sportsbook to use. Then we provide you with the basic steps you need to follow to get your crypto into your bankroll and get going.
Things to focus on when searching for Crypto Sportsbooks
There are certain traits a good crypto sportsbook should have. You should always look for a bookie to have if not all, at least many of them. We narrowed down specific characteristics of bookmakers accepting crypto that point out to a good experience. Let’s dive in.
A license is something that you should always keep a keen eye on when choosing a crypto bookmaker. Almost all companies operate under a Curacao license, which, as you know, is a less strict but formidable one. Despite being an easy license to get, they practice constant monitoring and revoke their licenses in the smallest suspicion of unfair treatment towards players. While it is always a positive sign, keep in mind that given the decentralized nature of crypto, in case of a dispute, a license on your crypto bookie can only take you so far. In short, it’s good to have a license, but do not heavily rely on it, for instance, to help you retrieve lost funds.
Is your favorite cryptocurrency available
The above is a bit of a no-brainer. If you wish to choose a crypto bookie to play, they certainly need to actually include your coin as a deposit method. As redundant as this may seem if you own some Bitcoin, Ethereum or any other major cryptocurrency, it’s all the more critical if you wish to bet with any more exotic altcoin. To put things into perspective, some of the best crypto sportsbooks offer up to 25+ crypto as deposit methods. However, most of them involve four-five coins offered; Bitcoin, Ethereum, Litecoin, Ripple XRP and Dogecoin.
Does it have a good reputation
A good habit to develop is to do some research on the potential crypto bookmaker you are eyeing. You will be surprised what a quick google search may reveal about it. Has is it been in any news lately? Has there ever been a security issue with it? What does the community say about this particular bookmaker? All these are useful little nuggets that may give you some extra insight on whether or not they are worthy of your time and money.
Variety of games offered
This is also a significant factor to consider. Whereas nowadays crypto sportsbooks offer a variety of markets and games that are almost equal to traditional bookies, there may be something in particular that you are looking for that it’s not offered. For example, until 2018, it was impossible to bet on the Kentucky Derby horse race with crypto and to this date, you can only do so in Bitcoin only.
Nonetheless, you will easily be able to find the major bets for markets such as 1X2, Double Chance for football, Money Line, Point Break, Parlay in Basketball, Outright, Match, Handicap in tennis and much more. It is not atypical to be able to access 400,000+ events yearly from 25+ sports, which is very, very close to conventional sportsbooks.
Customer support and good UI/UX
One of the cornerstones of a great bookmaker is customer support. Fittingly, this literally can make or break a crypto bookmaker. Look for actually responsive, 24/7 support via chat and email to answer all your questions. Conventional sportsbooks need to have expertise on crypto-related questions too. This can come especially handy in case of possible disputes in the future. Also, look at the User Interface. Some find this less important than others, but a slick and smooth UI can make a difference to your experience. On the other hand, a lousy UI with frequent bugs and errors in many pages, sluggish interactions is a telltale sign of a scammy bookie.
Banking terms and conditions
Reading the fine print on banking terms & conditions is something you must be practicing already in traditional bookies. This is even more important in crypto sports betting; We can not stress enough the importance of checking how deposits and withdrawals work. For example, we have experienced that in some bookmakers, you may be able to deposit in Litecoin, Dogecoin and the like, but you can only withdraw in Bitcoin. In others, especially conventional bookies that accept crypto, you must deposit in Bitcoin; otherwise, you will not be able to withdraw in crypto in general. This is vital if you do not want to part with your favorite altcoin.
Bonuses terms and conditions
It is just as important to check the terms and conditions of the bonuses and promotions offered by a crypto bookie. Few things are more off-putting than having to grind through ceaseless wagering requirements throughout a ridiculous course of time, only to be rewarded by a fraction of the bankroll you have staked. For example, you will see welcome bonuses up to 5 BTC, but if you go through the requirements, this bonus is almost unattainable or not worth the effort and deposit size you need to make overall. Pick your bonuses & promotions wisely.
Transaction processing times
Even though transaction speeds for cryptocurrencies range from instant to thirty-forty minutes, your bankroll does not depend only on the technical capabilities of the blockchain. There are instances when it may take longer, especially when it comes to withdrawals and if the bookmaker processes them manually. Also, look out for any daily or weekly limits in withdrawal amounts.
Can you bet from your location
To place a bet, you need to actually be able to access the bookmaker of your choice. As discussed, yes, most crypto bookmakers can bypass geo-locations due to the decentralized nature of crypto. However, still, it is best to only look for the ones available in your region. That being said, be very careful in case you wish to use a VPN to access them anyway; Bookies can pick this up and you may end up losing your deposit or being kicked out.
How to place a bet using crypto
First, decide on the cryptocurrency you want to use. If you already have some, then skip the steps on how to buy. If not, follow our walk-through for the basic steps to familiarize yourself. Should you wish for a more detailed explanation of the steps and the process, check out our crypto gambling guide.
- 1 Create your personal wallet. Choose your wallet wisely. This also is relevant to the crypto you wish to use because some altcoins have specific wallets.
- 2 Sign up at an Exchange. We recommend you use big and trusted ones, such as FTX, Coinbase, Kraken, Binance. Then go ahead and purchase your crypto.
- 3 Send it to your wallet. Be extra vigilant on putting the correct address and never send crypto from an exchange directly to a bookmaker; many exchanges follow anti-gambling policies and block transactions towards bookies.
- 4 Register at the crypto sportsbook of your preference. This should be easy. You only need an email address to sign up at a crypto bookmaker.
- 5 Select deposit. Carefully copy and paste the address to your wallet. Confirm.
- 6 Once the transaction is through, you are set. You simply place your bets, the same way as you would at any other bookie.
The truth is that there are approximately four thousand coins out there. Less than thirty are available as a payment method to even the best crypto sportsbooks from this lot. Let’s go through some of the most popular crypto coins you can use for your banking. As far as betting with crypto, most of these popular coins below offer something different and unique compared to the others. Also, keep in mind that, compared to conventional bookmakers, the newest crypto sportsbooks usually provide a better variety of coins; this makes a very attractive proposition.
- BTC. Bitcoin is the king of crypto. BTC is the most widely accepted coin for betting in Crypto sportsbooks. It used to have low fees, but not anymore. It is also not the fastest option either. For more information, check out our article about the Βitcoin Bookmakers.
- ETH. Ethereum is the undisputed number two crypto around. Almost as widely accepted as Bitcoin. Even though it is fast, this too has very expensive fees nowadays. There is an imminent big update coming soon, which aims to boost speed and reduce fee costs significantly. If you want to know more about this promising coin, dive into our Ethereum Sportsbooks guide.
- LTC. Litecoin is one of the oldest cryptocurrencies around. Built similar to BTC, but faster and has lower fees. You can read our guide about the Litecoin Betting Sites guide for a more in-depth look.
- DOGE. Dogecoin was created as a joke but turned out to be a formidable force. It is trendy in crypto sportsbooks due to its incredible speed and very low fee costs. Our guide on the Best Dogecoin Gambling Sites has extensive information on this peculiar cryptocurrency.
- XRP: Ripple is arguably the fastest and cheapest option. Not so widely accepted, but it remains an excellent option when you want to bet with crypto. Also a bit controversial to hardcore crypto enthusiasts due to its centralized structure. Do you think you know all about Ripple? Check the Ripple Gambling sites article to find out.
- BCH. Bitcoin Cash is another Bitcoin clone that is cheaper and faster to use. Not nearly as popular as Bitcoin as a payment method though. Still, it is a low-cost option.
- XMR. Monero is a cryptocurrency that takes privacy to the next level. If fully undetected transactions are your thing, then this is your go-to option. You will undoubtedly find several bookies accepting it, but not that many compared to the major ones. Check out more information on our page about the Best (XMR) Monero Gambling sites.
- ZEC: Zcash is another coin focusing primarily on privacy. It uses a different approach than Monero, but don’t forget to check our article on the Best Zcash Gambling Sites if you want to learn more about it. Zcash is not as adopted as Monero, but you will still find a handful of bookmakers that accept it.
- EOS. Eos aims to be a better, faster and cheaper version of Ethereum. Despite the fact it more or less achieves this, it is not very popular and you will struggle to find bookies accepting it.
- DASH. Dash is another coin focused on privacy, even though not so much as Monero. It is a Bitcoin clone with cheap fees. It is not at all widely available as a payment method though.
- ADA. For some, Cardano is the future of crypto. For others, it is a fable. At its fully operational stage, it aims to replace Ethereum. For the moment, it is a relatively low fee option for your bankroll, but it is very hard to find bookies accepting it as a payment method. Read our Best Cardano (ADA) Gambling Sites page for detailed insight.
- TRX. Tron is another controversial coin, mainly due to its founding team. This does not stop it from being an improved version of Bitcoin’s model by providing additional security. Tron also has low fees as an option. Very difficult to find bookies to accept it, though.
- USDT, USDC (Stable coins): This option might be combining the best of both worlds; Stable coins are by definition pegged to the value of an actual currency, usually USD by 1:1. They exist for utility and for you to simply convert your money losslessly into a cryptocurrency with a stable price. Ironically, this is not a very popular payment method in crypto bookies yet. With stable coins, you get the value of your money and take advantage of the speed and low costs of the blockchain.
Where to check out the New Crypto Betting Sites
The whole cryptocurrency market has been in a bull run for the better part of 2021. This has resulted in more and more new crypto gambling sites. Check out our list below for the best newest ones. The ones that made into this list meet our criteria for reasonable bonus wagering requirements, relaxed verification practices and, of course, proven reliability.
It is my conviction that crypto is here to stay. This is supported not only by the significant advantages crypto sports betting provides but also by the fact that in the last couple of years, it has been recorded that more than 60% of crypto transactions are gambling-related. This number is bound to increase in the future, but one must always keep in mind that taxation and regulation may change. Even though it is almost impossible to regulate cryptocurrencies, many countries have become aware of crypto and its applications.
It is only a matter of time before they come up with some way to apply taxes and some form of regulation to crypto-related activities, including sports betting. But of course, don’t just take my word for it. Do your research and see for yourself that crypto fits like a glove to sports betting and gambling in general. Then, you will be ready to dive into this exciting new way of approaching sports betting. Remember always to gamble responsibly, practice your risk management and never bet more than you can afford to lose.
Crypto is legal in general. If you wish to gamble with crypto, it all depends on whether gambling is legal or not in your country.
You can purchase crypto from several different exchanges. We recommend anyone from the big ones, such as Binance, FTX, Coinbase. If you are advanced, you can also use a decentralized exchange, such as Uniswap.
Cryptocurrencies are stored in digital wallets. There are several different types, but the main categories are mobile, desktop, paper, hardware, online and mobile wallets. Each option has its strengths and weaknesses so choose wisely.
You can use crypto for gambling on all sorts of websites online. From sportsbooks to casinos with lots of different games offered. Crypto casinos were among the first adopters of cryptocurrency as a method of payment.
Due to the nature of cryptocurrencies, once initiated, a transaction can not be altered or canceled. So be extremely careful before confirming any transactions from your wallet.