Binance Coin Sports Betting Deposits And Payouts
- Top 3 cryptocurrency – Powers the Binance exchange
- Major crypto investment opportunity
- Fast transfers, small fees, same-day payouts
Cryptocurrency is always moving closer to the mainstream, and that means there will occasionally be batches of new crypto betting options added to the online sportsbook banking menus at the sites we recommend. To that end, Binance Coin (BNB) sports betting deposits and payouts are among the most recent additions at several top operators. However, in a rare twist, BNB betting actually seems aimed more at the international market than the American market.
Nevertheless – and no matter where you live – Binance Coin crypto gambling is here, and our short guide to legal sports betting with BNB coins will show you exactly how and where to get started. If you’re interested in gambling, investing, or both, we’ve got everything you need right here. So bet with Binance and dance all the way to the bank!
What Is Binance Coin Crypto?
Binance Coin (stock symbol BNB) is the native cryptocurrency platform for the Binance exchange. And because Binance is the world’s largest crypto trading platform, BNB has grown into a dominant crypto asset in its own right. As of Q1 2022, Binance Coin is the fourth-ranked cryptocurrency in the world by market cap, and it’s been a top 5 crypto coin for a long time now.
Launched in July 2017 as an Ethereum ERC-20 token, Binance Coin was initially bogged down by the ETH network. For sports gamblers, for example, this would have caused the coin to be as slow and expensive as Ethereum sports betting, putting it on par with ETH, Tether (USDT), and USD Coin (USDC).
Fortunately, the BNB crypto made the transition to its own native blockchain protocol relatively early on, with online gambling transfer times more in line with what you’ll get out of Dogecoin betting or Chainlink betting.
How To Use Binance Coin For Online Sports Betting Deposits
Using BNB crypto coins to make online sports betting deposits is just like betting with Bitcoin or using any other cryptocurrency deposit method. Simply visit your BNB betting site and follow the provided instructions to transfer your funds to your sportsbook account.
Of course, if it’s your first time using crypto to bet sports online, you might want a brief rundown of the overall banking process for moving Binance Coin into your betting account. Fortunately, it’s easy enough:
- Follow any link on this page to a legitimate Binance Coin sportsbook and click or tap the “Join Now” or “Sign Up” button.
- The next screen will ask you to create your account by plugging in all your relevant personal information. This data is safe and secure at the top betting sites, as these venues’ KYC standards ensure that your account and funds are only accessible by you.
- Choose the Binance Coin (BNB) option from your site’s crypto deposits menu and copy down your sportsbook Binance Coin sending address. You can also select an optional crypto sportsbook bonus at this time (recommended).
- Open your private BNB wallet or Binance Coin exchange account and select the “Send” option.
- Paste the above Binance Coin address into the recipient field and enter in the BNB amount you’d like to move into your betting bankroll.
- Submit the ticket, and your account will be credited in approximately 20-30 minutes with no added fees.
How To Claim Online Sports Betting Payouts In Binance Coin
If you’re using Binance Coin to bet sports online, you’ll probably want to move your winnings into your Binance Coin wallet (or BNB exchange account) ASAP.
Luckily, claiming BNB gambling payouts is just as easy as making deposits:
- Head over to your legal online sportsbook cashier and select the Binance Coin option from the crypto betting withdrawal menu.
- Open your Binance Coin exchange account or BNB crypto wallet and choose the “Receive” option.
- Copy down your BNB wallet’s unique Binance Coin receiving address.
- Back at your sportsbook, enter the above BNB address into the relevant field, and plug in the Binance Coin amount you want to pull out of your bankroll.
- Submit the form, and you’ll receive your Binance Coin payout within 1-2 hours on average and with no added fees.
To buy Binance Coin, you don’t have too many options. Remember, Binance Coin is the native cryptocurrency for the Binance exchange. As such, most of Binance’s biggest competitors – exchanges like Coinbase, Bittrex, and Kraken – don’t support USD-BNB transfers or BNB trading in general.
For US residents, BNB crypto coins can only be bought using the Binance.US exchange (as Binance itself is not licensed in the US). As of Q1 2022, Binance.US does business in 44 US states, with residents of the following states locked out of the service:
- New York
2022 Update: Most other notable exchanges that support BNB – such as KuCoin and FTX – don’t currently accept US residents. The Gate.io exchange does allow US residents to join, and BNB is tradeable on the platform. However, US members of Gate.io can only trade other crypto coins for BNB and cannot buy BNB with USD directly.
If you live in one of the states supported by the Binance.US exchange, that’s probably your best option. However, if you don’t live in such a state – or if you just want to avoid lengthy crypto exchange waiting periods (up to 10 days for new members) – you can buy BNB through the Atomic Wallet cryptocurrency store.
This has two benefits: First, you can easily buy Binance Coin crypto with your credit card and send it anywhere you want as soon as you receive it. Second, with Atomic, you already have your BNB wallet, as Atomic Wallet is the most trusted universal crypto wallet app for iPhone and Android.
The only negative is that Atomic Wallet BNB purchases incur a 5% fee.
Note: You can also buy BNB through the Coinify crypto store, though Coinify is currently available to residents of just 33 US states. In general, Atomic Wallet is the better instant crypto buying option.
Our Experience Using Binance Coin For Legal Online Sports Betting
As of early 2022, we don’t actually have too much experience using BNB crypto to legally bet sports online. This is because access to the option has been hit or miss since it officially rolled out.
As usual, whenever sites like BetOnline, SportsBetting AG, MyBookie, or Xbet AG add a new cryptocurrency banking option to their bet funding menus, the launch can be…a little bumpy. Sometimes, the books will temporarily remove support for a given crypto coin, and sometimes those removals are permanent (as was the case with the DASH crypto a few years back).
The result – at least for now – is that BNB crypto banking may not be available at the exact time you log into your account and attempt to make a crypto sports betting deposit.
Why? Well, here’s our best guess: Because Binance Coin is more of a nod toward these sites’ international customers – and because we’re based in the US – there may be various legal issues we’re not fully privy to. Most countries have very tight cryptocurrency regulations, and full compliance with their laws and mandates can take some time.
Nevertheless, we have used Binance before, and we’ve even invested in BNB. While we don’t personally keep our coins on Binance.US (and we definitely don’t keep any coins on Binance proper – using a VPN to get our coins off the exchange was stressful enough!), we can’t really speak to all the exchange-specific perks of Binance Coin and BNB investing.
However, the BNB price is up by several hundred percent year-over-year, and its prominence appears to be long-lasting at the top of the crypto market. We’ve got no complaints with the Binance platform, and we think it’s about time these books started supporting BNB.
Best Binance Coin Wallets For Online Sports Betting
As a rule, we advise that you always move your crypto off the exchanges where you buy in and into a private, secure, non-custodial wallet. With Binance Coin, using a private Binance wallet means you’ll always have control of your BNB keys. That way, even if Binance were to go totally offline, you’d still have all your BNB coins present and accounted for.
We advise using exchange-based BNB wallets only for active day trading, and our preferred option – which combines the convenience of exchange wallets with more advanced security measures – is to use Binance Coin software wallet apps like Atomic or Exodus. These allow you to handle your crypto banking on the same smartphone you use for mobile online sports betting, putting everything front and center wherever you are.
If you really need robust added security and don’t mind spending some money and time to get it, Binance Coin hardware wallets are a decent option. And as ever, we do not recommend Binance Coin paper wallets except for long-term crypto cold storage.
BNB Online Wallets
- US (USA)
- Binance (International)
- KuCoin (International)
- FTX (International)
BNB Software Wallets
- Atomic Wallet
- Exodus Wallet
- Trust Wallet
BNB Hardware Wallets
- Ledger Nano S
- Ledger Nano X
- Trezor One
- Trezor Model T
BNB Paper Wallets
- Not recommended
Online Sports Betting Same-Day Payouts With Binance Coin BNB
Like all cryptocurrencies, one of the main reasons to bet on sports with Binance Coin is because doing so allows you to claim bigger, better bonuses whenever you make your first deposit or top up your sportsbook bankroll.
In general – regardless of the crypto sports betting site you choose – the enhanced betting promos available for cryptocurrency deposits add between 200% and 300% more free plays to your account than standard banking promos. Best of all, these almost always come with the same low rollover rates, so meeting your bonus wagering requirements is never too difficult.
Online sports betting bonuses are always optional, but we recommend that all online sports gambling fans accept these crypto betting deposit bonuses whenever moving BNB coins into their accounts.