According to Drive Research, in Q3 of 2022, the sports betting industry generated revenue of around 1.68 billion USD, which is expected to grow steadily. In addition, around 46% of adult Americans placed at least one bet on sports during the year, and around 31% of sports bettors from the USA placed at least one bet weekly. Those numbers speak for themselves: betting is clearly on the rise.
Yet, since Bitcoin's first release in 2009, more and more people have started using cryptocurrency for gambling and betting activities. For example, the average number of bets made with crypto increased 2.2 times in the first and second quartiles of 2022. So, let us help you discover some of the best Bitcoin sportsbooks and examine the crypto-related betting world more precisely.
Why Choose Crypto Betting Over Traditional?
Traditional betting sportsbooks rely on various fiat currencies as a leading source of payments for players. The main problem with that is that banks and tax services in different countries often track transactions in fiat currencies. Yet, some players might prefer to use crypto for betting purposes, as it grants:
- Increased anonymity. Thanks to blockchain technology, users of betting platforms can make it virtually impossible to track their transactions and financial actions.
- Great financial assets. Users of Bitcoin sportsbooks can save the crypto they win and use it as solid financial assets in the future.
- Worldwide availability. Cryptocurrencies, unlike fiat, are acceptable and available worldwide, so users do not need to use traditional exchange services to place bets.
- Fast transactions. Most fiat transactions take up to 5 business days, while crypto transactions can be completed within a few hours or even less.
It is important to remember that most betting platforms that support crypto allow users to perform certain additional activities with tokens. For example, the best Bitcoin sportsbooks always enable the exchange of different cryptocurrencies. For instance, their unique calculators help players count their budgets and understand potential profits and losses.
Top 3 Best Bitcoin Sportsbooks in 2024
According to Statista, the United Kingdom will remain among the most well-regulated betting industries in 2024, while Canada will show a 48.5% user penetration rate. Yet, most users in these countries prefer to use fiat currencies for their gambling and betting activities. That's why we created a list of the top three best Bitcoin sportsbooks, so users can slowly transfer to modern payment methods and check more possible options for betting. The list includes:
- Stake
- Wild.io
- CloudBet
Now, let's examine each of the best Bitcoin sportsbooks we gathered for you and review the advantages and disadvantages of each platform on the list. Also, we included some information about the unique features of each listed sportsbook (mostly related to available categories).
Stake
The Stake is a mix of a traditional online casino and a sportsbook licensed by Curacao that legally operates on various URLs, including the UK and Mexico. The main feature of the Stake platform is the option to place bets on a variety of esports, including Counter-Strike 2, League of Legends, DoTA 2, and more. Bettors also have access to 38 categories of traditional sports, including Olympic Games, snooker, and MMA.
Advantages of the Stake Platform
- Available in 16 different languages
- Two-factor authentication for enhanced safety and privacy
- An inbuilt community forum for bettors
- Ability to watch numerous live matches
- Generous welcome bonus
Disadvantages of the Stake Platform
- Not available in certain countries (e.g., Ukraine)
- Complex Know Your Customer (KYC) procedure
- Stake administration might void betting if the match does not adhere to the standard game rules (e.g., unusual match period, counting procedure, etc.)
Wild.io
Wild.io is a platform that combines virtual casino features with specific sportsbook functions. Currently, their main website supports over 40 different categories of sports. The most popular kind of sports are football, tennis, and basketball. Various exotic categories include numerous political events, chess competitions, and rowing. The platform is actively working on expanding the amount of available kinds of sports.
Advantages of Wild.io
- Fast withdrawal and deposit procedures
- ETH, LTC, BTC, TRX, ADA, BCH, BNB and more crypto supported
- 24/7 customer support service
- Over 7 000 different sports events are available daily
- Enhanced anonymity and user privacy
Disadvantages of Wild.io
- Video verification of the user might be required before withdrawal
- The minimum and maximum deposit and withdrawal amounts are limited
Cloudbet
Cloudbet platform provides an astonishing number of casino games and a wide variety of sports categories for those who love betting. Currently, the Cloudbet official website offers 30 different categories of sports to bet on, including horse riding, greyhound runs, virtuals, and more. Cloudbet is the most well-designed and intuitive platform on the list. The platform operates under the license of Curaçao, registration number 148526.
Cloudbet’s Advantages
- Up to $500 000 equivalent maximum bets in crypto
- Deposit bonuses of up to 5 BTC, 20 ETH, 50 LTC, etc. (depending on the volume of the first deposit)
- Easy to sign in with your Google account
- Wide range of live bets (players can observe the match and make bets during the watching process)
Cloudbet’s Disadvantages
- Welcome bonuses of only 0.001 BTC, 0,01 ETH
- The platform might be unavailable in certain countries
Conclusions
Various betting platforms are on the rise nowadays, yet more users are trying something new regarding payments, deposits, and withdrawal policies. A wide variety of sportsbooks and online casinos are allowing their users to gamble using cryptocurrency. Crypto brings many benefits for gamblers and bettors, including pseudoanonymity, lightning-fast transactions, worldwide availability, and more. So, if you are a bettor who still uses fiat currency for gambling and betting purposes, we strongly recommend you try crypto as a new payment method.
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