What is bitcoin sports betting?

Bitcoin is quickly becoming a viable alternative to standard currencies, and part of the reason why is Bitcoin Sports Betting. Unlike other types of currency, Bitcoin enables you to bet anonymously, and the governments can’t trace your activity in the same way. That means betting from countries where regimes are less in love with gambling than we are is easy.

We will give you a rundown of alternatives you can use, as well as basics on how to get started betting with bitcoin.

What is bitcoin?

Bitcoin is a decentralized digital currency, or cryptocurrency. This means that no single entity is in control of the currency, and that means that no one large bank can control your money and decide what to do with it.

The value of the currency is driven by the demand and supply, like most other things in the world, but with Bitcoin being a relatively small currency compared to others, it is still a very volatile entity. The upsides of the currencies are plenty, but please note that there is no such thing as a sure thing.

What do you need?

To get started you need bitcoin. In order to get a hold of these, go to an exchange such as Coinbase, where you can buy bitcoin and other digital currencies. We will focus on Bitcoin at this point, but other types of cryptocurrencies are also of interest to us. More about this later.

Coinbase is the most trustworthy name in the cryptocurrency sphere, as is evidenced by the fact that they have done transactions worth billions without issues.

After buying, we recommend you send your bitcoins to a wallet outside Coinbase, as they have been known to crack down on sports betting use.

According to most people, Blockchain.info is the go-to wallet for sports betting, but there are other alternatives. These should be easy to find.

Finding your Bitcoin Sportsbook

There are several different Sportsbooks to choose from that offers Bitcoin Sports Betting, but we’ll share some of our favourites with you. This section will be expanded, and we will also add in-depth reviews in separate articles.

Nitrogen Sports

Nitrogen is one of the very biggest sportsbooks that offer Bitcoin Sports Betting. You can bet anonymously here, but you can also make sure your bets are tracked if that’s what you prefer.

They offer very solid odds and they are open to pretty much anyone around the world. The issue is that they are not licenced in any renown jurisdiction, but they have been stable and highly respected by players since their launch in 2013.

Cloudbet

Cloudbet is a smaller name, but one that has been growing quickly in the cryptocurrency betting world. They offer other cryptocurrencies as well, and their odds are very solid.

The site is highly polished and looks very professional, and so far, there is nothing that makes us doubt their legitimacy. There’s a reason it has grown in popularity as of late.