Using Bitcoin as a payment method for online sports betting is still a relatively new concept, but more options are starting to emerge for those that want to place bets with cryptocurrencies. In this article, we’ll be discussing everything you need to know about Bitcoin as a payment method for online sports gambling in the U.S.
Bitcoin Pros
- Added layer of security compared to other payment methods
- Multiple partner cards for varied options
- Eligible for deposit bonuses at certain sportsbooks
Bitcoin Cons
- Not directly available at top sportsbooks
- No direct customer service
Best Betting Sites That Accept Bitcoin
One important caveat that you need to understand before using Bitcoin for sports betting is that no top betting sites accept Bitcoin, or any other cryptocurrency, directly. Rules and regulations in the United States prevent fully licensed and registered sportsbooks from accepting Bitcoin. You will find Bitcoin available as a direct deposit option on many un-licensed offshore sites, but we cannot attest to their quality, reliability, or security.
But, if you go through a third party partner card, the list of the best bitcoin gambling sites suddenly becomes a lot larger. These cards, like the BitPay Card and the Coinbase Card, are debit cards that pull funds directly from your crypto portfolio instead of your bank account.
Because of their partnerships with MasterCard and Visa respectively, these crypto cards are almost universally accepted on major gambling sites and are the best way to get into bitcoin betting.
We highly recommend our three highest-rated sites FanDuel, BetMGM, and DraftKings. Each of these sportsbooks come with sizable welcome bonuses, easily navigable user interfaces, and great variety when it comes to bonuses, sports, and betting markets.
If one of those bookies isn’t for you, we suggest you check out one of our other top-rated sites that accept Bitcoin partner cards for sports betting. These include BetRivers, Caesars Sportsbook, PointsBet, Betway, Unibet, Wynnbet, and Bet365.
Why Should You Use Bitcoin for Betting?
Betting with Bitcoin at legal U.S. sportsbooks comes with lots of advantages that makes it a great option as an online gambling payment method.
Because Bitcoin wallets inherently come with an added layer of security, you get the advantage of that protection when using Bitcoin for online gambling. And, with multiple crypto partner cards to choose from backed by popular payment providers, you’ll be hard-pressed to find a popular U.S. gambling site that you can’t use Bitcoin on.
And, although we don’t recommend it, if you do decide to go the route of depositing Bitcoin directly on an unregulated site, you will often be eligible for an extra deposit bonus.
How to Bet with Bitcoin
Bitcoin gambling and using Bitcoin as a payment method are attractive options for bettors at U.S. sportsbooks. In the sections below, we’ll give you some basic information on what you’ll need to do to deposit and withdraw funds using Bitcoin.
Depositing With Bitcoin
Tell the reader the steps necessary to deposit at bookmakers using Bitcoin. Is there anything specific about using this deposit method that needs to be addressed?
You cannot make Bitcoin deposits directly at any major licences U.S. sportsbook, but you can make deposits using crypto partner cards like the BitPay Card and the Coinbase Card.
To make a deposit using one of these methods, go to the deposit section of your sportsbook of choice and select credit/debit card. Then, fill out the information listed on your partner card.
Because these cards are partnered with major payment companies like Visa and Mastercard, this process will be quick and simple, and your deposits should transfer instantly.
Withdrawing With Bitcoin
Because crypto partner cards are technically prepaid debit cards, you cannot use them for withdrawals. This means that Bitcoin withdrawals are not currently available at major U.S. sportsbooks. But there is nothing stopping you from withdrawing the dollars you earn while gambling to another card or your bank and then reinvesting those winnings back into Bitcoin
Advantages of Using Bitcoin for Sports Betting
There are plenty of advantages to using sportsbooks that accept Bitcoin for spread betting and more. Below, we’re going to be highlighting the top three reasons that Bitcoin is a great payment method for online sports betting in the US.
Reason #1: An Added Layer of Security
One major reason that Bitcoin is one of the world’s fastest growing payment options is its unmatched level of security. With private Bitcoin wallets available that only you have the key to access, you’ll never have to worry about fraud the same way again.
If you’re a bettor who is wary of scams, Bitcoin might give you the extra bit of security you need to feel comfortable.
Reason #2: Multiple Partner Cards Available
Bitcoin might not be available to deposit directly on major U.S. sports betting sites, but there are plenty of reputable Bitcoin gambling sites available through third party partner cards such as the BitPay Card and the Coinbase Card.
Because these cards are partnered with major payment providers like Visa and MasterCard, they are available to use wherever these payment staples are accepted. This means that paying with Bitcoin through partner cards is available on practically every top-U.S. sportsbook, making it one of the most versatile payment methods.
Bitcoin Security
The main selling point of Bitcoin has always been its unrivalled security and privacy, and that continues to be true when it comes to sports gambling.
Bitcoin security gives you the option to have your own private wallet that only you have access to. You can transfer funds directly from that wallet to a Bitcoin partner card that can be used on major sportsbooks.
Bitcoin Frequently Asked Questions
Have a question about Bitcoin? Check out the answers to some of the most common questions from our readers below!
How to Use Bitcoin for Sports Betting
To use Bitcoin for sports betting in the U.S., you’ll have to do one of the following. Sign up with an offshore sportsbook which allows direct Bitcoin deposits, which we don’t recommend, or sign up for a Bitcoin partner card like the BitPay Card and the Coinbase Card.
Can Americans Bet Online with Bitcoin?
Americans can bet online with Bitcoin on licensed bookmakers with the help of a third-party partner card. These cards are partnered with major payment companies like Visa and Mastercard and allow you to use Bitcoin to bet on sports.
Is Gambling with Bitcoin Legal?
Yes, gambling with Bitcoin is legal, and can be done on all major sportsbooks with the help of a partner card.
Can I Deposit with Bitcoin at Betting Sites?
Absolutely. By signing up for a Bitcoin partner card like the BitPay Card or the Coinbase Card, you can deposit with Bitcoin at many U.S. sportsbooks.