A growing number of sportsbooks are now accepting Bitcoin as a form of payment, thanks to Bitcoin’s meteoric rise in popularity and importance. As a result, how can you know which ones are safe and will not abruptly shut down, stealing your Bitcoins? The functions of the finest and safest Bitcoin sportsbooks will be discussed in this post.
Some of the Benefits of Using Reputable Bitcoin Sportsbooks
You face the danger of transferring money or coins to criminals if you don’t do your homework before selecting a Bitcoin betting site. The financing, payments, and withdrawals of many sportsbooks may be unstable, and hundreds of online sportsbooks have gone bankrupt and insolvent in the past (which was one of the motivating factors). You should use a safe Bitcoin sportsbook for many reasons and this is only one of them.
Fortunately, we’ve done the legwork for you and found reliable bitcoin betting sites you can use today. They all have a lengthy reputation for trustworthiness and excellent customer service. In light of their solid reputations, we feel comfortable recommending these sportsbooks as secure havens for your cash and Bitcoin.
Betting Options Expanded and the Odds Improved
Due to the lack of knowledge and history of established sportsbooks, Bitcoin-only sportsbooks do not provide bettors with the same bets and odds as regular sportsbooks. There aren’t as many betting alternatives for sporting events at Bitcoin-only sportsbooks, and the lines they do provide aren’t as interesting. These bookies don’t offer lines for lesser-known leagues and sports.
When it comes to a large variety of multiple bets, other bets, live bets, and sharper odds, a conventional sportsbook with its skilled oddsmakers is by far your best bet choice. We suggest sportsbooks that have integrated Bitcoin rather than exclusively focused on Bitcoin since expertise is the only replacement for full-service betting choices.
Nothing to Worry About in Terms of Your Money
The question “Is Bitcoin a gamble?” is frequently posed by our readers, yet the blockchain itself answers that issue. Crypto’s degree of security is pre-installed in the system. At the time of deposit, the sportsbooks we suggest will convert your BTC into USD; at the time of withdrawal, they will change your USD back to BTC. You’re not only safe from the volatility of Bitcoin, but you’re also safe from any Bitcoin hacker who could try to break into your sportsbook.
Everyone has heard the tales of Bitcoin exchanges being hacked and losing their customers’ money. Using a “hot wallet” (one that is accessible through the internet), hackers may be able to access all of your Bitcoin and drain your wallet’s assets. When it comes to wallets, Bitcoin’s security isn’t guaranteed. There’s no way to know if a Bitcoin-only sportsbook is protecting your funds properly; even with the greatest of intentions, incorrect storage may be fatal. There’s a chance you may lose all of your Bitcoin if a Bitcoin-only sportsbook is hacked.
With a regular sportsbook, your money is completely secure when you bet on Bitcoin and they convert it to dollars. A hacker would have nothing to work with here. Traditional, full-service sportsbooks are your best bet if you’re concerned about security. Don’t try to predict the outcome of your sports bets.
Customer Support That Is Second to None
The customer support departments of the sportsbooks we examine are top-notch. Traditional sportsbooks provide a variety of ways to get in touch with customer care, including email, phone, and live chat. Bitcoin-only sportsbooks do not have the same level of full-service customer support due to their small size and relative youth. Additionally, their response times are frequently delayed. If you’re looking for fast customer service, stick with a traditional sportsbook that accepts Bitcoin.
Highest Standards of Accountability and Payouts in Record Time
Withdrawal timeframes are a major selling point for traditional sportsbooks, and they may be held accountable if they don’t follow these strict criteria. When it comes to new Bitcoin-only sportsbooks, swift payouts aren’t always the norm. Unlike traditional books, their finance and customer service divisions aren’t as completely established, well-rounded, and fully staffed. As a result, withdrawals are subject to frequent and anticipated delays.
Benefits of Using Bitcoin for Sports Betting
Creating a Bitcoin wallet is as simple as signing up for a sportsbook and placing bets on your favorite sports. If you’re going to purchase or sell something, you’ll need a username, a password, and funds. When it comes to utilizing Amazon or eBay, it’s no different.
Instead of tangible products, you’re exchanging money. You can use Bitcoin to wager after you have a digital wallet, which you can link to a bank account or credit card. Note that bookmakers typically reward customers who utilize Bitcoin because it can be sent rapidly and in big amounts.
Bitcoin is a great choice if you value efficiency. Multiple individuals verify each transaction on the blockchain, and bookmakers are eager to take Bitcoin bets because of this.
Credit cards and wire transfers take time and might be limited if you get a last-minute tip on a game and want to bet a lot of money. In comparison to other payment methods, Bitcoin payments are speedier and do not have any restrictions. To be a successful sports bettor, you must be able to take advantage of opportunities when they arise.
David is a crypto enthusiast and an expert in personal finance. He has created numerous publications for different platforms. He loves to explore new things, and that’s how he discovered blockchain in the first place.