Crypto Sports Betting

crypto sports betting

Crypto sports betting is a type of online gambling that allows you to bet on sporting events using cryptocurrency. This can be done through a variety of different platforms, including online sportsbooks, casinos, and even some apps. Crypto sports betting is known for its fast and secure transactions, but there are those that offer anonymity like Decentralized Applications.

Recommended Dapps are SportsX and SportsBet, which use Ethereum and EOS currencies respectively. Added fees are often non-existent with this type of gambling but it may vary from sportsbook to sportsbook. Bets may be pre-match, in-play, and virtually on esports and traditional games.

An Overview of Crypto Sports Betting

With crypto and blockchain gaming branching out in all sorts of recreational gameplay, many wonder what value it provides to crypto betting in sports. Despite the doubters, however, crypto for sports betting has proved to be as lucrative as any online or offline sports betting as crypto coin betting provides several advantages that you won’t usually find in the older methods of betting. 

Cryptocurrency gambling is a relatively new method of sports betting that resulted from the recent advancements in blockchain gaming. With the innovations in speed, security, flexibility, and even anonymity that it offers, crypto sports betting has opened the doors and allowed the progress of sports betting as a recreational sport and as a profitable hobby. In this article, we’ll be telling you all you need to know about sports betting in crypto, like how and where to bet, some strategies to keep in mind, as well as the cryptocurrencies commonly used.

How To Bet in Sports With Crypto

Placing a bet is relatively simple. First, you’ll need to look for a crypto sportsbook of your choice. Sportsbooks will likely list all of the available betting markets, whether it be live or pre-match. Then, you’ll need to select the odds you want to bet on. The odds will determine how much you can win if your bet is successful.

After, you’ll need to enter the amount of money you want to bet. Once you’re happy with your bet, simply click “Place Bet” and wait for the result. If your bet is successful, you’ll receive your winnings in your account within a few minutes.

Crypto Sportsbooks Available

The first step in getting started with cryptocurrency sports betting is finding a reliable sportsbook to spend your money on. There are a few things you should look for when choosing a sportsbook, and these include the reputation, its compatibility with your betting style, the betting options, and the security of the overall site. Also, not all sportsbooks accept cryptocurrency, so you’ll need to check your preferred online casino to see if their payment methods include cryptocurrencies. If you do not have one in mind, then these crypto sportsbooks are highly recommended:

Cloudbet is a respected cryptocurrency betting platform. It has been a pioneer in crypto casino since 2013.
18+ T&C apply | | | Play Responsibly
FortuneJack is one of the oldest crypto-based online casinos. It was created in 2014 by Nexus Group Enterprises.
18+ T&C apply | | | Play Responsibly operates a casino and sportsbook platform with the help of bitcoin and seven other major cryptocurrencies.
18+ T&C apply | | | Play Responsibly

Common Cryptocurrencies in Sports Betting

Most sportsbooks accept a variety of cryptocurrencies, so you’ll need to choose the one that’s right for you. Here are the most popular cryptocurrencies accepted by sportsbooks:

The use of cryptocurrency betting enhances privacy, safety, and transparency. The absence of any external influence and third parties assure that there are no middle men in handling transactions, limiting potential threats. In order to validate the security of the sites you choose, always double-check their gambling licenses and available payment methods. Moreover, you need to monitor and track every transaction that you make.

Sports Betting Strategy

  • Be sure to research the sportsbook you’re using to make sure it’s reputable, reviewed, and has a good track record.
  • Stay updated with sports news and any relevant information regarding your bets.
  • Compare and choose the sportsbook with the best odds. There are a lot of different options available for sports betting, so you want to make sure you’re betting on value.
  • Keep track of your bets. This is especially important when betting with cryptocurrency, as there can be a lot of volatility in the market. By tracking your bets, you can be sure you’re getting the best possible odds.