Over the years, many people have asked – is there a way to get involved with sports betting using Cryptocurrency? While once upon a time, it was an exhausting task to figure out how to do so, now it’s a fairly easy process that even those who aren’t tech-savvy can handle. If you’ve ever used an online payment system – like Venmo or PayPal – it’ll be a piece of cake. And even if you haven’t, it isn’t all that hard. With Bitcoin, Ethereum, Doge, and many more options, sports betting with crypto gets more reliable by the day.
While many people are looking for a way to use crypto to bet on sports, many might be asking why they do it at all. The answer is really simple – crypto affords users a speed and accessibility that other deposit methods just don’t have. Here are some of the benefits:
- Smaller fees when depositing and withdrawing funds
- Easy to use for international sportsbooks
- Low minimums for depositing
- Bonus offers regarding crypto
- More secure than using personal information
Now that we know some of the big benefits of using things like Bitcoin let’s take a look at how to do it.
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How To Bet On Sports with Crypto Currency
The first step to using crypto for sports betting is to have crypto in the first place. It couldn’t be easier if this is not something you’re already familiar with. One option is to get an account on a crypto wallet, such as Coinbase. That allows you to make transfers and store your crypto without any worries. From there, you can buy and sell crypto with a quick click.
However, if signing up for new services is not your thing, you can likely use a service that you already have. Applications like Venmo and PayPal have also gotten into the crypto game. Now, you can transfer your balance on either of those apps – and many apps just like it – into crypto in no time at all. These transfers also allow you to avoid the waiting period that often comes with depositing from a bank or other method.
Sports betting can be a risk, that’s a given, but you do not want to risk the insecurity of paper money when you can use the security for crypto like Bitcoin, Ethereum, Doge, and others. Lock down those transactions and profits you’re taking from corporate gambling with crypto.
READ MORE ABOUT HOW TO GET A CRYPTO WALLET HERE
Getting Into a Sportsbook
Now that we have the currency, we want to be able to use it. Many different sportsbooks, such as BetUs, accept crypto as a deposit method, so it just takes a second to check and make sure. After clicking on ‘deposit,’ one of the first options is to deposit using a cryptocurrency (usually Bitcoin).
After you’ve selected that option, the book will give you both a QR code and a wallet address to use. Either method works, but the ease of which really depends on whether you’re using a desktop or a phone to make the deposit. With the wallet address being as long as they usually are, be sure to copy the whole thing – there will typically be a copy option available. BetUS offers you multiple ways to get into sports betting using cryptocurrency, so take advantage of it!
From there, you can return to your application of choice to send your deposit. For instance, on PayPal, under the crypto tab, you can select send crypto and then paste that address. Then you simple wait for confirmation and you’re ready to play. The only downside about crypto on BetUS right now is that you can’t you use Doge for your sports betting needs!
Withdrawing Winnings
The withdrawal process is basically the same as the deposit – just as easy. When you’re ready to take out your winnings, simply click the withdrawal button and start the process. In the same way that you copied the wallet address from the sportsbook, copy over the wallet address from your app of choice. You can easily find this using the ‘receive crypto’ option.
Next, head back to the sportsbook in question and request a payout. When it asks for a method, you can again choose the currency you wish to receive. This is where you can put your wallet address. In no time at all, the currency will arrive in your wallet.
From there, if you are looking to put that money into your bank account or spend it in a place that is not crypto-friendly, simply use the same functions to turn it back into your local currency. Most apps will take no more than a fwe minutes to do so.
In Conclusion
There are so many benefits to using a cryptocurrency like Bitcoin. It also seems like they are adding more benefits every single day. Places like BetUs have bonuses that you can’t get with other deposit methods and fewer fees, too. Plus, the speed at which you can get money in and out is unmatched.
One important thing to remember is that crypto is like owning stocks, with value that fluctuates. As a result, you should keep an eye on prices anytime that you have crypto in your wallet. However, in terms of working with a sportsbook, it can make things a lot easier.
Whether you are using Bitcoin, Ethereum, Doge, or another crypto for sports betting, it provides a reliable and sound way to Let it Ride!
If you’re looking for bets to make after getting down with crypto, be sure to check out the Sports Gambling Podcast on YouTube. They’re dropping daily episodes to help you know the best bets to make in every sport imaginable. Subscribe and don’t miss a single one of Sean or Kramer’s plays. Start winning with crypto sports betting!
