Bitcoin Sports Betting Deposits
- Most popular cryptocurrency – HUGE investment potential!
- Accepted at ALL trusted legal online sportsbooks
- Best sports betting bonuses + SAME-DAY PAYOUTS
For most Americans, sports betting over the Internet remains unavailable in their states of residence. Further, due to the Interstate Wire Act, fans from one state cannot legally bet online with sportsbooks in another state. But they can legally bet with international operators who host their books outside of US jurisdiction.
The only hurdle is getting your overseas sports betting account funded. Credit, debit, and traditional bank transfers can be flagged by the UIGEA law, blocking you from getting money into your betting account. But no law – not even the UIGEA – can interrupt Bitcoin sports betting deposits.
With Bitcoin, offshore betting is legal, safe, and simple. But to use Bitcoin as a sportsbook banking option, you must first buy some Bitcoin cryptocurrency – which you can now do right through the PayPal app, by the way (though there is a caveat at launch – see below). If you’re so inclined, Bitcoin sports gambling should be your very first bet. To get started using Bitcoin (BTC), there’s nothing cryptic about our short crypto guide!
What Is Bitcoin?
Bitcoin is the world’s first, most popular, and most valuable cryptocurrency often used at the fastest paying sportsbooks. As the platform that introduced the revolutionary cybersecurity concept of the open ledger blockchain, BTC has single-handedly launched not only the crypto industry, but also the new encryption technologies that have been embraced by major banking institutions worldwide.
Bitcoin is the safest, most valuable form of currency ever, and it operates in a wholly free market. No banks or governments have any authority over BTC, and it can be freely transferred between private parties legally and securely.
As of Q1 2021, the Bitcoin market cap is north of $850 billion, with a single Bitcoin token trading at over $45,000. Some critics say Bitcoin is gambling (which makes it all the more attractive to sports bettors), and, frankly, it is. But it’s been a ludicrously safe bet, as each Bitcoin was worth much less than a penny when the platform launched in 2009.
If you’re just learning how to gamble, Bitcoin was practically made to make your hobby easier and more profitable. It’s a Bitcoin future – we’re just living in it!
Is Bitcoin Legal For Funding Online Sports Betting?
Yes! Bitcoin is legal to use for funding online sports gambling or any other lawful pursuit you enjoy. The only prerequisite is that your vendor or service provider actually accepts the stuff.
Since all the best international bookmakers accept Bitcoin and actually encourage their members to use it, you can rest easy that when you top off your account with BTC, you are breaking no laws whatsoever.
Best of all, Bitcoin sports betting deposits legally bypass federal UIGEA banking restrictions, because the blockchain platform cuts out all governmental and banking middlemen. It’s a free country, Bitcoin’s a free market, and you can even get free bets online for using the stuff!
Bitcoin Benefits For US Sports Betting
Bitcoin’s worth to sports bettors is multifaceted, as the cryptocurrency offers a huge number of perks for gamblers when compared to any other non-crypto banking methods.
- Legal for all USA/international gamblers aged 18 and up
- 100% guaranteed deposit rate
- Nearly instant online sportsbook money transfers
- Now buy Bitcoin with PayPal (trade options pending)
- Quantum-hacking-proof transactions secured by revolutionary blockchain technology
- Increased anonymity for all users
- No transfer fees for deposits or withdrawals
- Lowest minimum deposit limits
- Highest maximum deposit limits
- Enhanced Bitcoin bonuses at all major sites
- Only banking option for same-day payouts
Bitcoin Bonus Options
When you fund your online betting account with Bitcoin, you will get access to bigger and better sports betting bonuses than you will for any other deposit method. This alone is reason enough to make the switch to BTC for all your sports betting needs, because if you know how to gamble, Bitcoin lets you keep more of your bankroll and your promotional perks.
To show just how much more valuable BTC bonuses can be compared to standard promotions, take a look at Bovada Sportsbook. As the most popular overseas betting site in America, Bovada’s 50% Sports Welcome Bonus is worth up to $250 and has been the gold standard for years. But if you accept the Bovada Bitcoin bonus for sports wagering, you’ll get a 75% deposit match worth up to $750!
Of course, Bovada isn’t alone in this. Literally all reputable, top-rated online sportsbooks operating outside of US jurisdiction offer similar Bitcoin sign-up bonus enhancements. At the best Bitcoin betting sites, you get more for less, and you get it a heck of a lot faster!
How To Buy Bitcoin
Before you can deposit BTC at the top Bitcoin gambling sites, you’ll need to purchase Bitcoin. This can be done in a number of ways, and most US and international bettors use Coinbase and similar buy-in exchanges.
Unfortunately, if it’s your first time purchasing Bitcoin, most services require buyers to wait up to 10 whole days before their Bitcoin is released to them and/or eligible to be sent to external wallet addresses (such as those used by legal online sports betting sites). While the Bitcoin value is locked in at its trading price the day you buy it, the fact that it takes so long to receive and/or send your BTC before you can bet with it is a huge problem.
While casino gamblers might not have an issue with this, sports betting is extremely time-sensitive. Odds change by the hour, and having to wait often means missing out on the best lines. Worse, having to wait days on end means missing out on all the games and events you wanted to wager on in the first place.
This, more than anything else, is what keeps bettors from jumping on the Bitcoin bandwagon.
Fortunately, if you want to know how to get Bitcoins faster – that is, in minutes instead of days – there are several compelling solutions. We include both the traditional crypto exchange avenues and these alternative rapid Bitcoin purchasing methods below.
Where To Buy Bitcoin – Crypto Exchanges
As a first-time crypto user, there are numerous exchanges that will allow individuals to convert their fiat money to BTC at the currently-trading Bitcoin price. These sites are US-based, regulated, and allow any US resident aged 18 and up to create an account and actively purchase, trade, send, and receive Bitcoin as well as hundreds of other crypto assets.
We already mentioned Coinbase as the most popular of these, but other widely used points of purchase include the following, to name just a few:
- Binance US
- Coinbase Pro
- + More
Of course, there are dozens if not hundreds of other buy-in points. However, we currently only recommend the tried-and-true services of the sites listed above, with Coinbase Pro being our go-to for most crypto coins.
All that said, remember: If it's your very first time using any of the above, you will have to undergo a wait of 5-10 days before you will be allowed to send your new Bitcoin to any legal online sportsbook's BTC wallet. If you need to wager on games right now, then, these options aren't the best for crypto first-timers.
Buy BTC With No Waiting At These Exchange Alternatives
There are several alternative ways to get your hands on Bitcoin if you've never purchased any crypto before. These are all methods we've used ourselves at various times, and we have found them to each be compelling and more or less snag free.
You can use Zelle to buy Bitcoin at LocalBitcoins.com, which is a private P2P crypto exchange site. LocalBitcoins allows private individuals to buy BTC from other private individuals using the Zelle P2P app (which most US bank account holders already have access to). Zelle can only be used to buy BTC at this time, and the process takes around 3-4 hours on average.
Our Zelle sports betting page walks you through each step. Zelle Bitcoin sellers charge a small premium or Bitcoin markup compared to regular Bitcoin prices at the major exchange sites, and there is a bit of a hassle inherent in organizing private transactions in general. However, it's a lot faster than the regular exchange route.
Cash App is the only P2P app that allows you to both buy Bitcoin and send it to off-platform receiving addresses. While you can purchase BTC with PayPal and Venmo, those P2P services do not allow you to send that Bitcoin anywhere else. This makes them useless for online crypto bet funding (unless you use them for USD deposits via the Bovada voucher or Bovada MatchPay services).
However, Cash App does let you send your BTC wherever you want, which means you can buy Bitcoin with Cash App and then sent that BTC to any legal online betting site you wish, with no multiday wait times. Cash App charges a small premium for Bitcoin purchases, usually in the 2% range.
Atomic Wallet Store
Atomic Wallet is the only "universal" mobile crypto wallet app for iPhone and Android that also features a built-in storefront and offers exchange functionality. However, it's not the Atomic exchange we're talking about here, but the actual crypto store the service offers. Atomic supports over 35+ different crypto coins in its store, including every single one accepted by the top online sportsbook sites (including Ripple XRP, which is currently only available via Atomic in the USA).
When you download the Atomic Wallet app and make a free account, you can quickly buy any online betting crypto you want with virtually no wait. The way Atomic is able to do this is explained at the link above, where we walk you through the entire process. While Atomic charges a 5% premium for all crypto buys, the tradeoff is more than worth it.
Coinify Crypto Service
Coinify, like Atomic, isn't a crypto exchange but is instead a crypto store that allows you to purchase many of the most popular coins (including most of those used by the Bitcoin sportsbooks we recommend here). Coinify's KYC account verification process takes just a few seconds, after which point your Bitcoin will be sent to you.
That said, it's important to understand that Coinify is exclusively used to purchase crypto. The service has no online wallets and does not allow for trading your Bitcoin or other assets. Before you can buy Bitcoin at Coinify, you'll need to download a Bitcoin software wallet (or set up any online Bitcoin wallet or BTC hardware wallet – see below). This is the only way Coinify is able to actually get your BTC into your hands.
Best Bitcoin Wallet For Sports Betting
There are several good options when it comes to choosing the best Bitcoin wallets. If you intend to make frequent overseas betting deposits (or receive same-day BTC payouts when you win big), your Bitcoin gambling wallet needs to be fast, convenient, and accessible, so you can send your funds to your favorite sportsbook and get betting while the betting’s good.
As such, you’ll probably want to use a web wallet or software wallet rather than a hardware wallet or paper wallet when storing BTC funds you have earmarked for sports betting. The best of each of these wallets are listed below.
Bitcoin Online Wallets – Fastest
- PayPal (coming soon)
- Other Online Exchange Wallets
Bitcoin Software Wallets – Fast
- Bread Wallet
Bitcoin Hardware Wallets – Slow
- Ledger Nano S
- Ledger Nano X
- Trezor One
Bitcoin Paper Wallets – Molasses
If you’re only interested in how to invest in Bitcoin, you’ll have far more options than the above for where to keep – or “hodl” – your BTC. That’s because Bitcoin investing doesn’t really require you to engage in Bitcoin trading – You just hold only your BTC in any Bitcoin account of your choosing.
Note: Regardless of which BTC wallet you choose, only download software wallets from their official websites. Similarly, when purchasing a BTC hardware wallet, only do so from the manufacturers’ official web stores. Do not buy these from eBay sellers, Amazon sellers, or any other third-party retailers.
After all, betting on sports is risky enough – You shouldn’t have to gamble on your Bitcoin wallet’s security.
Getting Same Day Sportsbook Payouts With Bitcoin
Bitcoin, Bitcoin Cash, and other cryptocurrencies like Dogecoin, and Litecoin are typically the only options for USA bettors to get same-day payouts from sportsbooks. In order to receive your winnings or just make a withdrawal from a sports betting site using Bitcoin, you must have also used BTC to fund your account. You cannot deposit money using Visa or bank transfer and then withdraw using Bitcoin.
When you qualify to request your payout in BTC, there are a few perks, not the least of which is being able to receive your funds within 15 minutes in many cases, though the specific turnaround varies by site. Typically it doesn't take more than an hour to get your payout.
Additional upsides to BTC deposits and withdrawals include no fees associated with the transactions and heightened security for safer transferring and storing of your funds. All of our recommended sportsbooks support Bitcoin and some of them have integrated instant BTC purchase services right into their interface. We enthusiastically support using BTC or other cryptocurrencies when at all possible.