Cardano Sports Betting Deposits And Payouts
There are multiple excellent cryptocurrency online sportsbook funding options available at the best legal online sportsbooks for US players. But not all cryptos are created equal, and Cardano ADA sports betting deposits and payouts stand out in several ways from the rest. This is despite the fact that all crypto gambling options give you guaranteed deposits, bigger bonuses, and same-day payouts.
Because each crypto coin has different transaction times, fees, and non-gambling use cases, there’s a bit more to consider when selecting the best option for you. That’s why our Cardano crypto review isn’t just a guide to betting with the stuff – It’s also written to help you learn how to invest in Cardano ADA across the (betting) board.
What Is Cardano?
Cardano (stock symbol ADA) is a third-generation proof-of-stake (PoS) cryptocurrency that’s the third-ranked crypto coin – and most forward-thinking crypto blockchain platform – on the market.
The Cardano CoinMarketCap tracker ranks ADA just behind Bitcoin and Ethereum, and the Cardano ADA market cap is sitting at roughly $70-75 billion as of late 2021 (at a Cardano value of $2.25-$2.50 per coin). Cardano was created by Ethereum co-founder Charles Hoskinson of IOHK along with the Cardano Foundation, and it launched in 2017.
While we’re mostly interested in Cardano betting, there are far more Cardano use case examples than just online sportsbook deposits and withdrawals. For investors, you can earn free Cardano through Cardano staking, made possible in 2020 with the Cardano Shelley upgrade. Long-term enthusiasts are also interested in ADA smart contracts and Cardano NFTs enabled by the Cardano Alonzo upgrade in mid-2021.
Plus, with numerous Cardano partnerships having been recently announced, the sky’s the limit for ADA integration and the crypto revolution in general. Whether you’re a bettor or not, you’ll definitely want to keep an eye on the Cardano roadmap.
Fun Fact: Fittingly, Cardano is actually named after Italian polymath Gerolamo Cardano, who was actually a gambler himself! You can even read about his exploits thereof in the book “Cardano: The Gambling Scholar”!
How To Make Cardano ADA Sports Betting Deposits
To make Cardano betting deposits at the best-reviewed legal online sportsbooks for USA players, the first step, naturally, is to buy Cardano (as outlined below). Once you’ve done that, the process is extremely straightforward:
- Follow any link on this page to sign up with a legal online sportsbook operating outside of US borders (as domestic books are unavailable in about half of all states and do not accept crypto deposits of any kind).
- Click or tap the “Join Now” or “Sign Up” button and enter in all required personal information. Please be sure to use only verifiable data, as the top sites all prescribe to industry-best KYC standards.
- Select Cardano from the cryptocurrency banking menu and copy down your site’s Cardano sending address. You can choose an optional online sports betting bonus at this time.
- Open you Cardano exchange or private wallet and choose the “Send” option.
- Enter the above Cardano address into the appropriate field, and input the amount of Cardano you wish to send to your sportsbook.
- Your ADA deposit will be credit within 5-10 minutes and you’ll be ready to bet!
Note: All Cardano transfers have built-in blockchain fees to be aware of. However, these Cardano fees are smaller than those for most other crypto betting options (i.e. Bitcoin betting, Ethereum betting, Chainlink betting, Dogecoin betting, etc.). Reputable online sportsbooks never charge any added fees for crypto deposits.
How To Claim Cardano ADA Sports Betting Payouts
In order to claim a Cardano payout from your online sports betting operator, the process is largely the same as when making deposits. Of course, since you already have your ADA wallet set up, it’s actually even easier:
- Navigate to your online sportsbook cashier page and select the Withdrawal option.
- Select Cardano from the cryptocurrency payout menu.
- Open your Cardano wallet (exchange or private) and choose the “Receive” option.
- Copy down your wallet’s Cardano receiving address.
- Back at your sports betting cashier, paste the above ADA address into the requisite field, and enter in the amount of your account balance you’d like to pull out.
- Submit the request.
Most crypto betting withdrawals are processed instantly and automatically, but larger withdrawals may require custodial approval from your site cashier. In this case, ADA withdrawals may take 1-2 hours to show up in your wallet.
That said, once approved, ADA withdrawals are always rated for same-day payouts, and you’ll get them within 5-10 minutes. Remember, crypto is the only betting banking option that comes with reliable, guaranteed same-day payouts and no added fees.
In order to get betting on sports safely and legally with ADA, it’s important to understand how to purchase Cardano. While those invested in crypto can simply trade their existing crypto coins for ADA (i.e. buy Cardano with Bitcoin), for those new to the fold, it’s simple to learn how to buy Cardano with USD.
Simply head over to any reputable exchange to buy Cardano and follow their signup procedures by creating your account and verifying your identity. Once that’s done, you’ll need to link your exchange account to your existing bank account, debit card, or credit card. After that, head over to the exchange portal, select ADA from the menu, and buy as much as you like.
Once you’ve done this, most US crypto exchanges will make you wait up to 10 days before you can send your Cardano off-platform to external wallet addresses, such as those used by the best online sports betting sites. All new crypto users must undergo this initial wait, so sports gamblers should keep that in mind.
If you want to wager on tonight’s game, it’s already too late to buy crypto for betting on such a contest. In such cases, credit card sports betting deposits (Visa, Mastercard, etc.) are better. However, even if you deposit with credit, you should also go ahead and get set up with crypto now so you can use it next time.
Pro-Tip: When you buy Cardano ADA for online sports betting (or for any other reason), you should do so when the Cardano price is trending at a weekly or monthly low. It’s always a good time to buy ADA, but as a rule, you should not buy in when the ADA price is at or near the Cardano ATH (all-time high).
As stated, the best place to buy in is at a reputable crypto exchange. You can buy Cardano at Binance, Bittrex, Coinbase, and hundreds of other established US and international cryptocurrency exchanges.
That said, as American bettors, we find it easiest to purchase ADA with the big US-based exchange sites, as these make everything as simple as possible for the end user.
Of the most notable exchanges, we prefer those services listed below for buying in, as well as for converting Cardano to USD once you’re ready to cash all the way out.
Just remember, with Cardano, where to buy is just as important as when to buy, so you should always look to jump in when the price of Cardano is trending lower than usual. Any simple Cardano chart or ADA history tracker should help you time your buys for the best payout potential.
- Binance US
- Coinbase Pro
Pro-Tip: For most crypto holders, it’s considered a best practice to get your ADA off the exchanges as soon as you buy in. For online sports betting, immediately send your gambling balance to your betting site of choice, and send the remainder to a private Cardano wallet where you have custody of your Cardano crypto coin keys. The wallets we recommend for online sports betting – and all general ADA investing – are outlined further down this page.
Once you own some ADA and have moved it into your sports betting account at the top legal betting sites, you’ll likely have some left over. In fact, you should have some left over, because the coin is investment grade. In addition to that, it also supports staking!
That is, users can earn Cardano passive income by pledging their ADA to various Cardano stake pools. These Cardano proof-of-stake rewards are small, but they add up. Each pool averages 4-6% in total rewards every five days (or every “Cardano epoch”), which is then meted out to stakepool members based on how much they’ve pledged.
Additionally, delegated Cardano is not locked or tied up – you can continue to spend it, send it, and move it as you wish, with no added fees or penalties of any kind. Best of all, when you withdraw your online sports gambling winnings in ADA, you can transfer that ADA straight into your delegated wallet, adding even more passive income to your bottom line.
The best place to stake Cardano is, of course, up to you, as there are thousands of legitimate ADA stake pools which can be found via the PoolTool.io tracker. Happy hunting!
Best Cardano Wallets
In the crypto space, private wallets are absolutely essential, and there are several Cardano wallets to choose from. These run the gamut from software and mobile crypto wallets to hardware wallets and even paper wallets. But for regular online bettors, mobile wallets are the best option (as is mobile sports betting).
For know how to buy and store Cardano most conveniently, keeping your ADA on the exchanges themselves is attractive, but only private wallets allow you to control your Cardano keys. Exchanges aren’t unsecure, but they’re not the most secure options, either.
That said, if you find that software ADA wallets are less secure than you’d like, you can opt for hardware ADA wallets. These are USB devices that add a strong layer of security to your holdings, but the hardware itself costs money ($60-180, depending on the model), and they add a few extra steps to the online betting deposit and withdrawal process.
We do not recommend Cardano paper wallets for anything other than offline cold storage, and even then, these are the riskiest options.
Of the following wallet options, those marked with an asterisk allow for Cardano staking and rewards.
Cardano Online Wallets
- Binance Wallet*
- Kraken Wallet*
- Bittrex Wallet
- Coinbase Wallet
- Coinbase Pro Wallet
- Other Exchange Wallets
Cardano Software Wallets
- Daedalus Wallet*
- Yoroi Wallet*
- AdaLite Wallet*
- Atomic Wallet
- Exodus Wallet
Cardano Hardware Wallets
- Ledger Nano S ($60)
- Ledger Nano X ($120)
- Trezor One ($60)
- Trezor Model T ($180)
Cardano Paper Wallets
- Daedalus Cardano Paper Wallet Generator
- Yoroi Cardano Paper Wallet Generator
Online Sports Betting Same-Day Payouts With Cardano ADA
Perhaps the biggest reason that bettors prefer cryptocurrency – outside of enhanced sports betting deposit and account reload bonuses – is that they allow for guaranteed same-day payouts. Cardano, as one of the fastest, most efficient, and least expensive blockchains on the market, is a top choice for those who want the most bang for their buck – and want it right now!
While same-day payouts can sometimes be claimed by bettors using online sportsbook vouchers or third-party MatchPay sports betting options, these aren’t guaranteed. However, with crypto, same-day instant sportsbook payouts arrive in full, every time. And, naturally, Cardano betting payouts in particular give bettors the most possible added rewards and perks (via staking and Cardano price growth).
Perhaps the only commonly accepted crypto coin that can match Cardano for payout speed and cost is Litecoin (LTC), although Litecoin does not support staking rewards and doesn’t have quite the investment potential that ADA enjoys.
Cardano Benefits And Special Features
As a cryptocurrency for online sports betting, Cardano brings with it several features that make it attractive for most crypto gamblers. For example, it’s one of the fastest cryptos on the market, with most transactions being fully verified within just 5-10 minutes.
Cardano blockchain fees are also minimal, putting it in the realm of extremely lean cryptos like Litecoin and Stellar. Even if you’re transferring thousands of dollars in ADA, those transfers typically fee out at just a dollar or two.
Finally, ADA staking allows both bettors and holders alike to stake their Cardano and earn free ADA (aka ADA rewards). All this makes it a great option for online gambling, even compared against other leading crypto coins.
But there’s more to Cardano than just how it works as a monetary platform. If you’ve followed the latest Cardano news – or if you’ve seen the most recent Cardano Summit coverage – you know this platform is something special.
For one thing, every platform initiative is democratically decided upon via the Cardano Catalyst program, giving holders a voice in the direction of the Cardano ecosystem.
And per the Cardano Africa Special, it’s clear that ADA is designed to not just enhance technological access in developing nations, but also to be a stable form of universal currency in those third-world countries where fiat money is fundamentally prone to unreliability and hyperinflation.
The Cardano method ticks all the right boxes for the modern conception of crypto, from smart contracts and NFTs to widespread De-Fi and more. There’s even a Cardano metaverse rolling out soon, which has implications across the videogame market, the eSports market, and the entertainment industry in general.
Meanwhile, high-profile Cardano partnerships with legacy media companies and entertainment brands already run the gamut, and they’re just getting started.
Cardano Betting FAQs
You can purchase Cardano ADA at any reputable online crypto exchange.
However, remember that if you intend to bet with ADA, new cryptocurrency users must wait 5-10 days before they can move their Cardano off-platform to the ADA wallet of any reputable online sportsbook site.
One of the easiest ways for current crypto hodlers to get their hands on Cardano is to buy ADA with Bitcoin. All the major US and international exchanges support Bitcoin-Cardano trades.
You can also buy ADA with other major crypto assets (Ethereum-Cardano, Litecoin-Cardano, etc.).
Of course, since we always favor diversified crypto portfolios, we prefer trading USD for Cardano rather than trading other cryptos we already hold.
As of Q4 2021, Gemini supports 40 cryptocurrencies, though Cardano – the third-ranked crypto in the world by market cap – is not one of them.
Not at this time.
However, even when Robinhood does support Cardano, we don’t recommend this platform.
Robinhood has proven itself to be of questionable ethics when it comes to individual traders, as demonstrated by its suspension of GameStop stock trading in January 2021, causing countless investors to lose out.
Robinhood justified this illegal action by citing “recent volatility,” which is the name of the game in the crypto investment community.
Use Robinhood for crypto investing and stock investing only at your own risk.
Cardano is listed on both Coinbase and Coinbase Pro, and these platforms are the most popular venues for US residents to buy and trade ADA cryptocurrency assets.
Of the two, we recommend Coinbase Pro thanks to its lower fees and more straightforward trading interface.
Very few crypto exchanges currently support ADA staking via Cardano Shelley wallet compatibility.
The only major exchanges that allow holders to stake their ADA are Binance US and Kraken.
That said, we do not recommend staking Cardano through online exchanges. Instead, you should use official Cardano private wallets such as Daedalus, Yoroi, and AdaLite.
We certainly think so.
If you’re a member at one of the legal online sportsbooks that currently accepts Cardano, it is absolutely the best online bet funding method.
Right now, the major US-facing sportsbooks that support Cardano ADA are BetOnline and SportsBetting AG.
Naturally, if you primarily bet at Bovada, BetUS, MyBookie, or other major operators, there’s no reason to buy ADA for sports betting.
But there’s still plenty of reason to buy ADA in general!
Without a doubt.
Cardano is one of the most exciting – if not the most exciting – modern crypto coin.
Even if you’re not using ADA for online sports betting, if you’re a gambler at all, there’s no better crypto gamble in 2021 than Cardano ADA.
As of October 2021, the average market price of Cardano is about $2.20 per ADA.
The ADA price regularly goes up or down by several percentage points each day, however, so it’s very likely that by the time you read this, the price of Cardano will be different than the number cited above.
As of Q4 2021, the Cardano market cap fluctuates between about $69 billion and $72 billion on any given day.
The ADA market cap is currently ranked third on the big board per CoinMarketCap.com, behind only Bitcoin and Ethereum.
Occasionally, though, Binance Coin (BNB) and Tether (USDT) will flipflop positions with Cardano.
Yes, but that will likely take a while.
Most analysts and crypto insiders believe that Cardano is on track to hit $90-$100 per coin by 2030.
We don’t know. Nobody does. But all signs point to “eventually.”
More near-term predictions peg the value of ADA at $5-$10 within the next few years.
Cardano was invented by Ethereum co-founder Charles Hoskinson, who wanted to create a crypto platform that would solve many of the bottlenecking issues inherent in the resource-intensive Ethereum protocol.
Yes and no.
Bitcoin, as the granddaddy of them all, is hard to beat in terms of investment potential and market mindshare.
BTC also has by far the highest market capitalization of any cryptocurrency, and that’s unlikely to change anytime soon (although it should eventually change, as Bitcoin has far less utility than many more modern cryptos).
As a long-term investment, we believe you’d be better off putting more money into ADA than Bitcoin, but this really depends on your own personal needs and investment timeline.
Of course, for online sports betting specifically, Cardano is much better than Bitcoin, as it has lower native transaction fees and much faster transaction times.
Most ADA transfers cost just a dollar or two regardless of how much ADA is being sent or received, while most BTC transfers can cost $10, $20, or $50-plus depending on the amount in question.
And while ADA transactions clear in under 10 minutes, it often takes BTC up to an hour to show up in your betting account or private wallet.
As with Bitcoin, the Cardano vs. Ethereum debate has loud voices on both sides.
Right now, ETH is still the better investment, as it’s enjoyed more growth than Cardano over the last few years.
Still, compared to Ethereum, Cardano is much more capable, as it does everything ETH does at a fraction of the cost.
However, Ethereum’s ongoing transition to Ethereum 2.0 will make ETH a PoS platform akin to ADA, which will make things very interesting.
For sports betting in particular, as with Cardano vs. Bitcoin (see above), Cardano is clearly a better option than Ether.
ADA transfers cost very little and are fully concluded in just 5-10 minutes, while Ethereum transfers have the highest “gas prices” in the industry and can take up to 60 minutes to clear.
While there are no other cryptos exactly like Cardano, there are other platforms that have much of the same promise – and much of the same demonstrated or theoretical utility – of Cardano.
Most notably, these Cardano “competitors” include Solana (SOL) and Polygon (MATIC).
While Solana is an independent platform and is considered by the likes of Forbes to be a “potential long-term rival for Ethereum,” Polygon is actually built atop Ethereum and seeks to solve some of its scalability and efficiency issues.
Nevertheless, if you’re looking to invest, the Solana vs. Cardano debates and the Polygon vs. Cardano debates are moot.
The actual best tack is to buy all three and hodl the line!