Bitcoin Betting Online

Advantages of Betting with Bitcoin

Betting with Bitcoin Online is a booming industry which continues to experience progressive growth as worldwide technology becomes more advanced and gambling less taboo. During 2021 the global online gambling market reached 73 billion and later increased by 10% to 81 billion during 2022. Projections show by 2026 we can expect to see the market increase by 50% reaching an estimated 115 billion. As more online customers discover how easy it is to play their favorite games on the web, versus driving several hours or even worse traveling by air to another State for brick-and-mortar action, they will choose to stay home and deposit with Crypto. In this article, we’ll cover the advantages of funding your favorite Online Sportsbook or Casino with Bitcoin during 2023.

Bitcoin Betting - Security

There is one significant difference between funding Crypto versus fiat, Bitcoin is decentralized. This means there are no central authority controlling crypto transactions. Instead, transactions occur on a peer-to-peer (P2P) basis. With this technology Bitcoin is much more secure than fiat currency as there is no centralized bank or government entity charging their handling fee, taxes,
or any yearly deductions.

In terms of privacy when using a credit card, bank transfer, or e-checks those transactions are logged through the web by multiple processing companies. This could very well pose a problem for customers who live in countries where online gambling may be restricted and are forced to use VPN to bypass IP blocks. With Crypto you’re deposits and withdrawals are sent directly to and from your wallet, under your control and full discretion.

There is also an extra layer of security when using Bitcoin or any other Cryptocurrency when depositing online. By keeping your passwords and (2FA) access private, it can be virtually impossible for hackers to gain access to your wallet. Where with traditional fiat depositing methods, there is always a high risk of fraud and identity theft. This gives you peace of mind of not having to worry if your funds will arrive during the funding process and more importantly
getting paid in a timely manner when you eventually win.

CryptoApex recommends you keep your information in a safe place when setting up a Crypto Wallet. This includes using a unique password, writing it down and storing it within a lock box. We also advise using a strong password if you store your money with an online wallet. 2 Factor Authentication (2FA) is recommended, be sure to keep your seed phrase in a safe place, and if possible, use cold storage. You should avoid sharing your crypto wallet login information with any site are anyone attempting phishing schemes.

Bitcoin Betting - Lower Fees

The fees with sending and receiving Bitcoin to Online Sportsbooks and Casinos is often pennies when sending several hundred dollars. This certainly means the operators are happy to waive the minimal fees in order to make cryptocurrencies the number one banking solution. With fiat, credit cards and wire transfers there are processing fees that are charged by your bank as an international transaction cost of doing business. In addition to that there is also a max on how much you can deposit per day and week.

In addition to waiving fees, the Online Sportsbooks and Casinos now offer bigger bonuses for customers who choose to deposit via Bitcoin and other cryptocurrencies. Standard bonuses for fiat methods are in the 50% range while crypto bonuses are offered between 100% and 400% depending on the Sportsbook or Casino you choose to play at. For example,

WildCasino currently offers a 300% Crypto Welcome Bonus for first time depositors.

As you prepare to bet online, be sure you take all of the benefits into consideration, especially the security advantages of funding with Bitcoin and minimal fees to transact back and forth. At CryptoApex we have taken the time to select the Top 10 Online Sportsbooks and Casinos of 2023 for you to enjoy the very best iGaming experience.

Bitcoin Betting - Fast Transactions

When making a withdrawal from an Online Sportsbook and Casino – one of the main issues with using fiat currency is waiting for money to arrive in your bank account. This can take several days and with a kyc process on first time withdrawals even longer.

With Bitcoin the processing period is considerably less, often receiving your withdrawal same day of the request and sometimes within 15-30 minutes. This advantage is based on the transparency of blockchain technology, where the Online Sportsbook and Casinos are able to quickly verify your crypto credentials are in fact yours. There is no red tape to cut through or multiple hoops to jump, peer-to-peer transactions are lightning fast and clearly the best solution
when gambling online.

Funding your Online Sportsbook and Casino account is equally painless. BetOnline is one of the biggest and best Online Sportsbooks for Bitcoin Betting Online. To begin log-in to your wagering account, select the banking option, then the Bitcoin logo or fund with crypto option, copy the wallet address provided by the operator and send from your wallet. This can take one or two minutes of your time and you’re ready to enjoy your favorite casino game. There is no verification process when funding your account online, CryptoApex does recommend you use your real information when signing-up. Especially your email address, as you may need to retrieve your credentials and also verify your identity should there be any discrepancy down the line.

Bitcoin Betting - Anonymity

Bitcoin was created on the world wide web in 2008 and made specifically for improving online transactions via peer-to-peer technology. This makes Bitcoin and other cryptocurrencies the perfect fit when depositing or withdrawing from your favorite Online Sportsbook and Casino.

With Bitcoin Betting Online you control your own wallet, no other person should have access especially your significant other, siblings, co-workers, or government authority. With the private access in place, you are able to move digital currency to and from your favorite Online Sportsbooks and Casinos. As long as you do not give out your log-in credentials for your personal crypto wallet, you are safe and secure to conduct business as needed.

On the other hand, when funding with your Credit Card or sending Wire Transfers. There are multiple problems that can come into play. This is no longer a (P2P) transaction, you are now sending funds through an online merchant who also is monitored by government personnel and verified by tax agents at end of every fiscal year. In addition to that, you may find yourself in the unique situation of having to explain to your significant other why you deposited $500 last Friday to play Online Blackjack.

Those are only a couple scenarios of what can go wrong when funding by Credit Card; the old school methods are becoming more out-dated as technology continues to advance. Depositing with Bitcoin is the new generation and perfect solution for banking with your favorite Online Sportsbook and Casino. Eventually within the next ten years you will see every online operator move exclusively to crypto. Credit Cards and Wire Transfers will be offered only on a select basis and with little to no incentive in terms of bonuses or player rewards.

Another important factor to keep in mind when betting online with bitcoin is the amount you can fund and withdraw.

Deposit limits per transaction can be as high as $10,000 or more. Withdrawing your winnings can be even higher up to $100,000 per week. This is all kept confidential between you and the Online Sportsbook or Casino. Most offshore operators conduct business on a global scale and do not report to any government agency how much their players win or lose. With crypto you control which transactions are made public and which remain confidential.

Bitcoin Betting – Final Thoughts

In conclusion, Bitcoin over the last ten years has clearly become the perfect online digital currency for online gambling. It is much more secure to deposit and withdraw your winnings with Crypto compared to traditional fiat methods such as Credit Cards, Bank Transfers, and E-Checks.

Processing fees are considerably less and the fact that no government or country controls Bitcoin makes it the perfect solution. More importantly you are able to manage your transactions, keeping them completely private and anonymous to those around you such as hackers who might try to steal your banking information.

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Best Crypto Betting Sites

BetOnline

BetOnline has been around a long time, having originally launched in 90’s.

WildCasino

Launched in 2017 WildCasino is known for doing a lot for Crypto customers.

MyBookie

MyBookie features many bonuses, especially for those who are crypto betting customers.

JazzCasino

The strongest point of JazzCasino is their vast collection of casino games, over 2,000

BetUS

This organization is one of the veterans of the industry, established back in 1994.

NitroBetting

NitroBetting does express the benefits of Bitcoin values the way most people do.

CryptoSlots

CryptoSlots has been in business for over two decades, they offer a “limitless crypto gaming experience.”

XBet

XBet is quick to mention that they have some of the “pioneers” of online gaming involved with their ownership and management teams.

Bovada

Bovada is all-in on Crypto, and in particular their “Bitcoin Casino,” where they say you can use Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Tether.