There is not so many top bitcoin bookmakers around as there are regular sportsbooks, but let’s keep in mind that Bitcoin is here since 2009 and only last few years there has been sudden increase of cryptocurrency betting sites. Bitcoin is valuable choice for those who live in a country where betting online is over regulated or somewhat grey area, because of the anonymity Bitcoin offers.
UPDATED IN February, 2020: Before I continue, have a look at our list of handpicked top Bitcoin bookmakers:
Cryptocurrency bookmakers have numerous fans in countries like Russia and United States because of the confusing laws and Uncle Sam’s long hand reaching for our pockets and dictating what we do with our free time and where we like to throw our money at.
American government has been bullying online gaming operators for years now. Some not so lucky businessmen running offshore sportsbooks have been even prison, some indicted and there has been lots of harassing and muscle flexing (like interrogations and freezing assets), that many sports betting enthusiasts don’t like.
Therefore it is quite obvious that American government doesn’t like cryptocurrency betting sites (probably not our top bitcoin bookmakers list either) and punters feel it every day. Because of the lobbyists there are numerous banks in USA that don’t support credit card transfers to cryptocurrency betting sites companies and refuse to cash in checks sent by sportsbooks.
Cryptocurrencies, howerer, like Bitcoin, are the honeybadgers of currencies. Might sound naive, but is what it is – it means no government can mess with Bitcoin, no government can decide to just seizure Bitcoins. Well, theoretically they may say “we will be doing some seizuring now”, but those will be just empty words. Bitcoin is immune to shenanigans like this.
Especially relevant, when we are talking about top cryptocurrency betting sites and how cryptocurrency has changed the betting landscape – let’s just say that at this very moment BITCOIN IS ABSOLUTELY THE SAFEST OPTION IN THE WORLD FOR ONLINE GAMBLING ACTIVITIES, sports betting included. Especially sports betting.
Furthermore, when are depositing and withdrawing in Bitcoin, there won’t be any extra tracks left behind, becayse what happens between you and cryptocurrency betting sites, will stay between you and your bookmaker. Therefore nobody from your bank will be calling you and asking you about those Monday night money transfers to offshore bank accounts. And it often takes weeks, sometimes even months to receive checks sent by bookmakers. Same time, Bitcoin withdrawals from sportsbooks are basically instant.
And let’s don’t start about fees. When using credit cards and checks, Americans often lose between 10-15% of their funds by just moving it from one account to another. When we move Bitcoins, there is basically no fee. There is no middlemen getting their cut. No wonder banking mafia are angry! Let’s not forget that when fees are lower, that means better margins for top Bitcoin bookmakers and for punters.
Because it’s so convenient to move Bitcoins back and forth, it is wise just deposit the amount you want to make bets with, not anything extra, like it is usually done with credit card deposits to save fees. If depositing “extra”, it might become itch that needs scratching and next thing you know you will be allin on placing a bet on some unknown Korean badmington player to win the World Cup. If you find yourself wanting to bet on badmington, just know it’s time for a break.
Is it possible to trust top Bitcoin bookmakers? Absolutely, but you have to consider that sometimes bookmakers go under for various reasons and bettors will be the casualty. Seems like there are plenty of review sites out there, but everyone still has to do their own due diligence when it comes to betting on sports.
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