Pros and cons of using Bitcoin at online betting sites
Using Bitcoin at online betting sites is pretty popular because it’s fast, widely supported, and generally secure, but it still comes with a few trade-offs worth knowing.
- Widely available
- Speedy deposits and withdrawals
- Excellent security and privacy
- Accepted at mainstream and niche brands
- Traffic can hit BTC network
- Price volatility can affect bankroll value
How to use Bitcoin for online crypto betting
While Bitcoin casinos and betting sites are arguably the most accessible of all crypto-enabled gambling platforms, using BTC to fund online betting may require a certain learning curve if you’ve only recently made the switch. So, I’m starting my guide to Bitcoin betting sites with a closer look at how to make payments using this ubiquitous digital currency, just so that everyone’s on the same page.
Purchasing BTC and loading your crypto wallet
To use Bitcoin at online betting sites, you’ll first need to purchase some. The good news is that Bitcoin is the most prevalent and widely used cryptocurrency, so you should have no problem finding and purchasing it at a reputable online exchange.
After buying BTC, you’ll need somewhere to store it so that it can be used easily for online transactions. There are a variety of excellent crypto wallet apps out there that can facilitate this, so you should download one of these onto the most convenient device before adding your BTC so it’s ready to use for online purchases.
Linking your crypto wallet to your online betting account
When you’ve found a BTC-ready casino or betting site that you like the look of, you’ll need to register for an account before linking this to your crypto wallet. You can typically do this with a QR code or by adding your crypto wallet address; this will allow you to make easy purchases and withdrawals, managing funds to and from your account.
Making deposits and withdrawals with Bitcoin at betting sites online
With your crypto wallet set up and loaded with BTC, you’re ready to make online deposits and withdrawals at your preferred betting site. So, let me give you a step-by-step guide on how to perform both these actions in turn.
Depositing betting funds using BTC
You can send BTC directly from your crypto wallet to your chosen betting site, with the funds available instantly. Here’s how:
- Step 1: Navigate to your betting site’s cashier screen and tap “deposit”
- Step 2: Select Bitcoin (BTC) from the list of eligible payment methods
- Step 3: Scan the QR code on screen using your crypto wallet app, or else manually add the platform’s unique BTC address
- Step 4: Within your crypto wallet, select the total sum of funds you wish to deposit
- Step 5: Follow the steps to complete your transfer
Withdrawing betting winnings via Bitcoin
The core benefit of using BTC for betting site withdrawals is that you can receive winnings almost instantly. It’s also really straightforward, as this step-by-step guide shows:
- Step 1: Navigate to your betting site’s cashier screen and tap “withdraw”
- Step 2: Add the total funds you wish to withdraw, ensuring that this amount is clear and ready to transfer
- Step 3: Add your BTC crypto wallet address when prompted
- Step 4: Follow the steps to arrange the transfer of funds
- Step 5: Provided no additional verification checks are required, your funds should be available within a matter of minutes, although some BTC transactions can take up to one hour when network traffic is heavy
Are there any verification requirements when using Bitcoin at betting sites?
Given the decentralised nature of Bitcoin as a digital currency, it’s tricky to provide a catch-all response to the question of whether verification checks will apply at BTC-enabled betting sites or not. It was a similar story in my recent guide to Ethereum betting sites, too, and, naturally, one of the perceived benefits of using cryptocurrencies at online betting sites is that it eliminates the need to pass verification checks.
The reality, though, may be a lot different. In my experience, licensed and regulated betting sites that accept Bitcoin still require members to complete KYC-style (Know Your Customer) verification checks, even if they go on to select BTC as their primary payment method of choice. That means you may need to provide evidence to confirm your name, date of birth, and residential address, usually in the form of a government-issued ID (like a passport or driver’s licence) along with a recent utility bill or bank statement to confirm your address.
Do note, however, that these verification checks aren’t always required, even on licensed betting sites. Typically, you’ll only need to pass KYC checks in certain scenarios, like when you’re trying to make a large withdrawal or if you’ve hit the brand’s deposit or withdrawal threshold in a given period.
As I’ve alluded to, the type of verification that may be required will vary depending on the crypto-ready betting site you’re using. Always make sure you’re betting with legitimate brands that offer services in your country and territory of origin.
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A brief timeline of Bitcoin: Key dates and history to note
If you’re looking for a little context and background information on Bitcoin and when exactly BTC betting site payments became a reality, I’ve put together a brief timeline covering its development and core advancements.
- 2009-2010: Bitcoin originally emerged in 2009, launched by its creator, Satoshi Nakamoto. Though initially viewed as a super-niche digital payment method with zero market value, its peer-to-peer infrastructure and lightning-fast transaction speeds soon caught the attention of key stakeholders in the online gambling community.
- 2012-2015: BTC became a mainstay of crypto gambling sites in the mid 2010s, alongside alternatives like Litecoin betting sites. This gave rise to an all-new casino gaming mechanic, the “Provably Fair” algorithm, which would ultimately help revolutionise the crypto gaming space.
- 2016-2020: As the popularity of Bitcoin betting sites and other crypto-enabled gambling platforms grew, this soon attracted the attention of regional lawmakers and key industry regulators. Up until this point, crypto gambling sites had operated within a market grey area, relying on their decentralised infrastructure and peer-to-peer network.
- 2020-Present: Bitcoin is now widely accepted at both mainstream betting sites and niche, decentralised platforms. Since it’s the world's most prevalent digital token, you’ll find it available at more betting sites than virtually any other cryptocurrency.
Bitcoin vs alternative cryptocurrencies: Which is best for online betting?
If you’re making the switch to crypto but aren’t yet convinced whether to choose BTC or opt for an alternative like, say, Dogecoin betting sites, then perhaps this comparison will help. Here, I’ve pitted Bitcoin against some of its mainstream crypto rivals, comparing their core features and characteristics to help you decide which digital token is right for your needs.
| Crypto | Coverage at betting sites | Avg withdrawal speed | Fees | Best for |
| Bitcoin (BTC) | Highest coverage | A few minutes or up to one hour when the network is busy | Can be on the high side | Near-universal acceptance, even on mainstream betting sites |
| Ethereum (ETH) | Very high | A few minutes | Moderate | Those seeking superior privacy and anonymity |
| Litecoin (LTC) | High | Instant to a few minutes | Low | Ideal for affordable, lightning-fast transactions |
| Dogecoin (DOGE | Moderate | A few minutes | Low | Low fees and fast speeds |
Key facts about Bitcoin betting sites that you should consider
Before I introduce you to some of my favourite betting sites for BTC users, I have some important supplementary information to tell you about using Bitcoin betting sites online. There are some need-to-read details to note here, so stay tuned as I cover some key information about BTC crypto betting platforms.
đź’ą Volatility of Bitcoin can affect the value of your bankroll
Before using any cryptocurrency for online betting, it’s important to consider that these digital currencies can fluctuate wildly in price. Bitcoin, in particular, is super volatile, so peaks and troughs in its value can have a knock-on effect on the total value of your bankroll and winnings.
Let’s say, for example, that you scored a nice win on a recent sportsbook wager. But, before you have a chance to make a withdrawal, the value of BTC takes a hit, meaning that your bankroll is now worth significantly less than your initial win amount. That’s part of the reality of using BTC for online betting, and, of course, sometimes things can take a swing in the other direction.
đź”’ Bitcoin betting sites are not 100% safe and secure
While one of the perceived advantages of using BTC betting sites is their watertight security provisions, this isn’t always the case. Crypto betting sites are exposed to the same security threats as regular casinos, and since they’re often unregulated and not covered by the same regional licensing framework, you may be more vulnerable as an individual user.
Of course, I don’t mean to scaremonger; BTC betting sites are generally very safe, particularly if you perform the right due diligence checks and opt for a reputable and licensed brand.
🎰 Accessing “Provably Fair” games is one of the key advantages of using BTC at online betting sites
If you intend to play casino games using BTC betting site funds, you’re well placed to take advantage of “Provably Fair” games. As alluded to earlier, Provably Fair has become a key selling point for choosing cryptocurrencies for online casino play, giving you extra reassurance that the titles you’re playing are 100% fair and unbiased.
Provably Fair is powered by the blockchain algorithm, so it helps guarantee that game outcomes are always 100% random. Many BTC casino and betting sites offer Provably Fair games, often as self-produced collections like the Stake Originals series.
Five of the best Bitcoin-ready online betting sites to try
We’ve come to the part of my Bitcoin betting site guide where I introduce you to a handful of recommended brands that I’ve checked and verified, and which do accept BTC for deposits and withdrawals. My shortlist of Bitcoin betting sites includes Duelbits, Gamdom, Metawin, Rollbit, and Stake, the latter of which is currently offering an epic welcome bonus, which you can access with my exclusive promo code – get all the details you need in my brand-specific mini reviews down below.
Stake.com – One of the world’s foremost crypto-ready betting brands
If you’ve recently made the switch to betting using cryptocurrencies like Bitcoin, chances are that you did so to access one site in particular: Stake.com. This is arguably the founding father of crypto gambling online, with Stake being one of the first well-established sports and casino betting sites to offer a full-service solution for crypto users. Of course, BTC is the most popular cryptocurrency to use at Stake, but the brand accepts dozens of other digital tokens, too.
When you sign up at Stake.com, you can use my code to claim a 200% bonus up to $2,000 (or BTC equivalent) when you make your first deposit on the platform. Simply drop this Stake.com promo code into the “Referral Code” submission box when registering for a new account, and you can take advantage of this great offer.
Duelbits – Expect speedy BTC deposits and withdrawals
Second, perhaps to Stake, Duelbits is one of my preferred betting sites for BTC deposits and withdrawals. That’s because it provides a full-service crypto gaming experience, not simply a BTC bolt-on like some more mainstream betting brands. Its speedy BTC withdrawals are perhaps its greatest asset, with Duelbits processing Bitcoin payments within 10 minutes on average.
Elsewhere, Duelbits offers a nice bunch of Provably Fair original games, alongside a fully-fledged sportsbook with some surprisingly competitive odds. But, as alluded to earlier, it's the brand’s crypto-first design that steals the show, with an intuitive deposit/withdrawal flow that’s clearly geared towards maximum crypto wallet compatibility.
Gamdom – Low fees and over a decade of crypto betting experience on display
Gamdom was one of the original crypto gambling sites, first hitting the market way back in 2016. That makes it older than Stake.com, and means it’s been in the business of online crypto betting for over a decade now. This experience is evident across the Gamdom platform, from its intuitive cashier options to the brand’s mightily impressive selection of Provably Fair casino games.
Elsewhere, Gamdom has maintained comparatively low fees versus some of its rivals, so this could cinch it for price-conscious bettors. It’s also considered one of the more verification-lite betting brands out there, with checks only required in certain scenarios and in certain regions.
Metawin – Look forward to a massive collection of casino games here
Like other brands on my shortlist, Metawin is a top-down crypto betting brand, so you can expect an intuitive crypto-ready interface and smooth deposit and withdrawal processes regardless of the BTC wallet you choose to use. As with Gamdom, this is also a great example of a crypto-ready betting site that takes a light approach to customer verification – perfect if you prioritise privacy and anonymity.
What’s perhaps most impressive about Metawin, however, is the scale of its casino game lobby. On my last count (not that I counted every single game, as that would have taken way too long), I tallied over 4,000 games in the brand’s library, so there’s no danger of running out of new titles to try here. That includes some epic self-produced games, all of which fall under the remit of Provably Fair.
Rollbit – Enjoy crypto trading and a multi-product gambling hub
Rollbit is a complete crypto-ready betting platform, offering both a multi-market sportsbook and a +4,000-strong library of well-rated casino games. This site has been built from the ground up with digital currencies like Bitcoin in mind, so you’ll have no problem getting set up with your chosen crypto wallet to make no-nonsense deposits and withdrawals here.
One of the most unique aspects of Rollbit is its integrated crypto exchange, where you can physically acquire BTC on the platform. This makes it a fantastic beginner-friendly site for those who may not have yet made the switch to Bitcoin, allowing you to purchase tokens directly on the site with no intermediary exchanges. Just make sure Rollbit is available in your country of origin before you attempt to register.
A final word on Bitcoin betting sites
I know that there’s a lot of information to take in over the course of my Bitcoin betting site guide, so kudos if you’ve stuck with me up to this point. For me, Bitcoin remains one of the best cryptocurrencies for online betting and casino use; even if it’s not the cheapest or the fastest digital token out there, its prevalence makes it a flexible option for most online bettors.
If you agree, why not check out my recommendations from the on-page banners? The likes of Duelbits, Gamdom, Metawin, and Rollbit are perfect for Bitcoin betting, while you can also pick up an awesome welcome bonus with my Stake.com promo code .
Try these top betting bonuses
Bitcoin betting sites FAQs
đź’¸ Do Bitcoin betting sites charge fees?
Yes, although you may not pay fees through the platform itself. Instead, BTC fees are levied as blockchain network fees in some scenarios.
đź”’ Are BTC betting sites safe?
Yes, so long as you opt for a legit, trusted, and reputable betting site that has been vetted and verified by an expert.
🌍 Are Bitcoin betting sites legal in my country?
Obviously, that depends greatly on where you live. Some countries have been quick to ban BTC betting sites, but you may be able to access them in some territories. Check the T&Cs of the brand you’re interested in for more information.
