Crypto Betting

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Crypto betting sites and casinos tie together two of the newest and fastest-growing industries globally — cryptocurrencies and betting. In April 2021, the cryptocurrency market hit 2 trillion dollars in value, with expectations rising even higher.

We at Bonuses.bet did a research and got to the conclusion that online gambling is forecast to be worth over 125 billion dollars by 2027, for a 12% growth every year.

Both are important topics of conversation nowadays, although cryptocurrencies top the list. Millions of early crypto adopters are now flush with heavy portfolios, making for billions in funds they can’t easily use in many places. That would include crypto sports betting sites and casinos.

Even Greater Rewards

Fortunately, there are quite a few online crypto betting sites built to allow investors, both new and old, to cash out some of their earnings in a way that opens the door for even greater rewards.

Unfortunately, however, with anything cryptocurrency-related being trendy, hundreds of mediocre sites are built to scam investors out of (usually) their Bitcoin, Dogecoin, and Ethereum profits.

Unfortunately, that makes it relatively difficult to find an excellent place to bet some cryptocurrency if you don’t know where to look.

What are the Pros and Cons of Using Cryptocurrency to Bet?

The big thing is that it’s like an investment. Cryptocurrency prices are constantly fluctuating. It means that a crypto bet could quickly turn a profitable gain into something even more significant.

Cryptos are huge, and it’s not hard to see why. They promise anonymity, speed, low fees, variety, and more. All in a bundle to replace the depreciating currency of most countries.

If you’re not too familiar with cryptocurrency, well, it’s like digital money. Most cryptos have a blockchain, which adds a block for every transaction. These blocks have information on who and where the money went and came from, on top of when and how.

The Concept

As for the actual crypto, it’s like an online bank account. You can’t touch that money in your bank account without withdrawing it. That’s a concept quite familiar to cryptocurrency investors.

Even though it’s digital, it’s still money, as you’re trading digital ownership for a product. However, as it is digital, you can build on the immediate and growing internet benefits. No contacting banks, moving through a payment processor, or gathering transaction times and fees through an intermediary.

The Security

Instead, everything is done objectively. Your transaction is placed on the blockchain. It allows you near access to your money or whatever service you’re looking to buy. However, that also means there’s almost no chance you can get your money back if you make a mistake, and everything’s permanent.

That also means if someone sees or gains access to your crypto transaction address, they can trace everything you’ve done alongside the quantities and timing. The whole concept can be scary once you dive into it, but cryptocurrency betting is usually safe and high quality.

Volatility

However, cryptocurrencies are also quite volatile, like stock investments, meaning that your money changes value very often. Fortunately for you, whenever you move your balance over to a betting site, they essentially sell the crypto and present you with the cash to spend.

When you want your money back, they’ll buy some cryptocurrency and send it right on back to you. Of course, it can be really complicated and frankly confusing on multiple levels. But we’re here and ready to help. So, here are our favorite online betting sites that accept crypto (and casinos, too!).

BetOnline.ag

BetOnline is somewhat of a stalwart in the online betting industry, with over 25 years of experience and a spot in people’s top betting sites with crypto bonuses. That’s a lot for an online site, although it’s important to remember that the people running the website have had quite a history with setting up early-stage online betting and casinos.

Currently, BetOnline offers sports betting, live betting, a casino, racebook, poker games, eSports betting, and more, all within their one website. They’ve continuously led on odds, bets, payouts, and bonuses, and that’s something that’s carried on through the decades in business.

Surprisingly, however, even with BetOnline’s storied history, they’re not behind on technology or options. On the contrary, that company leads the industry on multiple fronts. That includes its services and early adoption of cryptocurrencies. Considering the age and usual lack of innovation after a while, it’s very nice to see that BetOnline continues to innovate things.

Deposit and Withdrawal Methods

Of course, that includes adding cryptocurrencies as a deposit and withdrawal because otherwise, the company wouldn’t be on this list. BetOnline doesn’t have the largest selection of cryptocurrency deposits. Their sheer size makes any offerings impressive against smaller Bitcoin betting sites.

There is a total of five accepted, with a minimum of $20 (both deposit and withdrawal) and a maximum of $100,000:

  1. Bitcoin | $20 to $100,000
  2. Ethereum | $20 to $100,000
  3. Litecoin | $20 to $100,000
  4. Bitcoin Cash | $20 to $100,000
  5. Ripple | $20 to $100,000

With the established reputation and history of BetOnline, it’s great to see that they’re even taking the chance of having cryptocurrencies as payment methods to start. Alongside its wide variety of services and the quality programs on their site, BetOnline is a great option for those looking for a crypto sports betting site and one of the best Bitcoin betting sites.

That’s also likely a reason as to why many other betting sites have been incorporating cryptocurrencies as well, considering BetOnline is a very heavy benchmark for other websites. They’re one of the oldest and most reliable. They’re also the ones that other companies peek at for inspiration.

SportsBetting.ag

SportsBetting is another well-known online betting site. In all, SportsBetting offers sports betting, live betting, a casino, and live casino, a racebook, poker, eSports betting, and contests wrapped in a single package.

While those services are quite like the ones listed for BetOnline, they take in money is quite different. SportsBetting accepts a whopping 11 unique cryptocurrencies for payment. That includes the meme coin Dogecoin and the 1:1 dollar duplicate USD Coin. As it’s named SportsBetting, it’s also one of the best Bitcoin sports betting sites, alongside all these:

  1. Bitcoin | $20 to $500,000
  2. Bitcoin Cash | $20 to $100,000
  3. Cardano | $20 to $100,000
  4. Chainlink | $20 to $100,000
  5. Dogecoin | $20 to $100,000
  6. Ethereum | $50 to $100,000
  7. Litecoin | $20 to $100,000
  8. Ripple | $20 to $100,000
  9. Stellar | $20 to $100,000
  10. Tether | $20 to $100,000
  11. USD Coin | $20 to $100,000

This selection is awe-inspiring, and that’s one reason why SportsBetting’s choices stand out. There’s a wide variety of options. The company even recommends you connect their services to an industry-leading cryptocurrency exchange like Coinbase or a private wallet.

In addition, SportsBetting makes sure to mention that the company doesn’t force any fees, processing requirements, or more past the minimum and maximum for depositing and withdrawing.

Cloudbet.com

Cloudbet prides itself on being the “best online crypto casino site today”. And whether that’s true, they’re up there with the best. The company has accepted Bitcoin since 2013. They offer a combination of “secure bitcoin betting” and an “evolving crypto betting platform.”

Divided into three options (crypto sportsbook, casino, and eSports), Cloudbet offers one of the most in-depth cryptocurrency-focused casinos out there. That’s on top of providing sportsbook betting and eSports betting. Even though the company was founded to offer casino services to crypto enthusiasts.

Deposit Options

Things have changed, however, with a total of twelve cryptocurrencies barely edging out SportsBetting in terms of sheer quantity. There are some unique choices, too, with Pax Gold, Dai, and more offered atop the standard Bitcoin, Ethereum, USDC, and Tether:

  1. Bitcoin | 0.001 BTC with no max
  2. Bitcoin Cash | 0.03 BCH with no max
  3. Ethereum | 0.01 ETH with no max
  4. Tether | 20 USDT with no max
  5. Chainlink | 1 LINK
  6. Dogecoin | 100 DOGE
  7. Dai | 20 DAI
  8. Pax Gold | 0.01 PAXG
  9. Paxos | 20 PAX
  10. USD Coin | 20 USDC with no max
  11. Dash | ~0.15 DASH
  12. Litecoin | ~0.1 LTC

For those looking to bet or play on one of the top crypto casinos, then Cloudbet is likely a top option. The company is very focused on cryptocurrencies, and they’re dedicated to what they do. Of course, it probably doesn’t help that they’ve existed since 2013, making them one of the first online casinos to offer betting and casino services in return for cryptocurrency.

FortuneJack

FortuneJack is one of the most casino-centric options for online casinos that accept crypto. Even though the competing Cloudbet was founded as a casino. That doesn’t make much of a difference to FortuneJack’s sportsbook, dice games, casino, live casino, provably fair games, and more, all of which accept the following eight cryptocurrencies:

  1. Bitcoin
  2. Litecoin
  3. Dogecoin
  4. Ethereum
  5. ZCash
  6. Tron
  7. Dash
  8. Monero

Although the selection isn’t necessarily as extensive as others, FortuneJack also holds some gems. ZCash, Tron, and Monero aren’t very common in the world of large sites. So it’s surprising to find it on FortuneJack. Still, that doesn’t stop the company from offering payment and withdrawals through those eight.

While there’s not much information on the minimums and maximums for cryptocurrencies, it’s likely around the $20 mark and $100,000 mark, which most of FortuneJack’s competitors share.

However, it might be lower as the company has many branding signs pointing directly towards being one of the online casinos that accept cryptocurrency as a header. For example, although the FortuneJack sportsbook is listed as “sports,” the company calls it “Crypto Sportsbook” once you’ve clicked on it.

FortuneJack is another dedicated acceptor of cryptocurrencies, and the wide selection available beats out some competing choices that are larger but less diverse. In addition, there’s a good combination of well-known and hidden gem cryptos, eight of which lie on FortuneJack’s platforms.

Bovada

Bovada is the last site on this list, home to a sportsbook, casino, live dealer page, poker games, and horse racing bets. Unfortunately, the company is also home to the shortest list of accepted cryptocurrencies, although rapidly growing. That doesn’t stop it from being one of our top online casinos that accept Bitcoin, however.

Although there are only five available now, it’s up from one offered not too long ago. First, Bovada introduced BitcoinCash to its services within the last few years, before Litecoin, Bitcoin SV, and Ethereum, all of which were added soon.

Some of the company’s website still doesn’t have the complete list yet, so here’s what we’ve seen so far:

  1. Bitcoin
  2. Litecoin
  3. BitcoinCash
  4. Bitcoin SV
  5. Ethereum

While four of these are standard options for deposits and withdrawals, Bitcoin SV stands out. SV is a split of BitcoinCash, a fork of Bitcoin, focusing primarily on speed, efficiency, and sustainability. It’s swift and cheap, so, surprisingly, Bovada is the only company that offers services for it on the list.

Nonetheless, it’s quite an excellent addition to a shortlist, placing Bovada above others in quality cryptos for some people. So, though Bovada holds the most minor lists on this list, they have some unique choices and one of the quickest growing selections to grow on top of quality services in the meantime.

Why Do Sites Accept Cryptocurrencies?

The quick truth is the platform they’re built on. The blockchain is perfect for casinos and betting sites. The best crypto casinos use cryptocurrencies in a way that both benefits the company and the consumer.

Not only does it allow bettors to spend more money more efficiently, but it also allows greater transparency, lower costs, fewer fraud issues, more excellent safety, and speedy settlement on the site’s end.

Using fiat currencies (i.e., the dollar, rupee, or Euro), sites are left with the standing technology already developed and widespread. As these companies generally have monopolies in money transfers, they can charge ridiculous fees for mediocre services.

Even “newer startups” like PayPal or Square can charge upwards of 10% in fees and service charges, which cut deep into a betting site’s profits and your bank account. After all, you won’t be the only one paying a fee — sites must, as well.

However, with cryptocurrencies, fees are often as little as $0.000001 with transaction times in a mere second. It’s incredible how fast and cheap it is to move massive amounts of money with cryptocurrencies, and it’s all publicly viewable on the blockchain, where every transaction is stored.

So, sites can drop unnecessary fees, see where the money’s going (and where it’s come from), have quick response and transfer costs, and can move vast amounts of money without needing too much effort put into it. Plus, all the same, benefits apply to you as well.

How Have Crypto Betting Sites Impacted the Gambling World?

There are a few significant impacts of cryptocurrencies on betting and gambling: anonymity, ease of use, speed, scale, and privacy.

Anonymity is pretty apparent — when dealing with cryptocurrencies, every crypto you own has its private string of numbers and letters as its wallet. That address is yours and yours only, although it’s completely anonymous and holds no connection to you. So, although everyone can see every transaction you make, they can’t see anything past what, how much, and when.

While that’s big enough outside of gambling, it’s massive in a market that’s not taken too lightly by some people. This market is significant for crypto casinos for USA players, as standard casinos are often shunned.

The Anonymity

So, when it comes to betting and gambling, it’s frequently better to remain anonymous, both for you and your family’s safety. Suddenly, you’re left with the ability to prevent not only some people from seeing your history of betting but also prevent big banks and big tech from the same.

Unfortunately, those big banks and big tech companies are also the same ones that make the whole process simple and intuitive. However, fortunately, cryptocurrencies are straightforward. Once things are up and running, all you need to do to send money is scan a QR code and type how much money you want to send.

Afterward, you wait for the betting site or casino to accept the payment, convert it into staple currency, and things are good to go. It’s that easy and anonymous, providing competitive abilities against technology and companies that already exist.

The Speed

The same concept works for speed, as cryptocurrencies are built on blockchains maintained by thousands of people. Whenever you make a transaction or something similar, one of these people (validators) put that transaction onto the blockchain, cementing that something has happened. While cryptocurrencies were relatively slow in the past, they’re much faster now, thanks to a growing number of quick validators.

This growing number of validators also makes it possible for companies and people to share money globally, at a scale never seen. You can send millions in single moves, spending just a few dollars in transaction fees and a few seconds in transaction timing. It’s incredible, both for you and the company moving money.

All these benefits make cryptocurrencies a significant aspect of the growing betting market, pushing everything to be faster, more efficient, more effective, and (most importantly) more private and anonymous. Although betting sites aren’t necessarily immoral or illegal, they’re constantly under heavy regulation, and cryptocurrencies make money a lot easier to move quickly. Whether that’s a good thing or not, in your opinion, it’s something that is happening and will likely continue to grow over time.

Choosing From the Best Crypto Betting Sites and Casinos

Frankly, there’s no natural way for us to tell you the best crypto betting site and casino for you. Each one has its benefits and drawbacks, creating quite a hard choice.

However, one of the best ways to choose the right crypto site for you is to find which one agrees with your wallet the most. If all your money is in Bitcoin SV or Dogecoin, then don’t go to a platform that only accepts standard Bitcoin. If you have Ethereum exclusively, then don’t look for Litecoin.

That’s one of the simplest ways to narrow down the options immediately, and it’s one of the most useful. Past that, the services are next. Here at bonuses.bet, we have a detailed Betting Guide that lists some of our top ideas for choosing the right betting site or casino for you. After all, it depends on your taste atop dozens of other minor features and decisions.

If you’re interested in sports betting, check out a crypto site that offers sports betting as a top service. On the other hand, if a site you like does casino games, then obviously that wouldn’t work. As such, everything comes down to your opinions, thoughts, and plans atop the services and cryptos presented by a site.

Conclusion

With cryptocurrencies, there are a lot of other maybes, including speed, cost, volatility, size, and more, that all impact your decisions and what makes the best choice for you.

Our selection envelops just a few of our top sites, and of course, these aren’t complete reviews cramped into a few hundred words each. If you want more information on each of these sites, check out our thoughts on bonuses.bet, and, of course, it’s always great to dig into it yourself if you’re interested in checking out a website further or using it down the line.