As the world gradually accepts the use of cryptocurrencies for everyday transactions, betting websites have also started allowing users to wager with cryptocurrencies.
Currently, there are a number of cryptocurrencies that bettors can use for their wagers and the list of accepted crypto is growing every day.
But before getting the types of cryptocurrencies, it is necessary to know what a cryptocurrency is:
A cryptocurrency is a virtual, encrypted and decentralised form of currency, meaning there is no interference of a central authority like the Federal Reserve System in the USA, European Central Bank or the Reserve Bank of India (RBI).
Business in cryptocurrencies is usually done through tokens or coins. Although some cryptocurrencies have entered the physical world with credit cards, the majority of them remain entirely intangible.
The major cryptocurrencies accepted by crypto gambling sites are as follows:
Making deposits and withdrawals using cryptocurrency on a betting site is as easy as ordering a pizza online. Here's how you can start using crypto for your bets.
Buy some cryptocurrency
You need to own the accepted cryptocurrency before you can start betting. If you don't possess the authorised cryptocurrency, it's possible to buy it from any online crypto trading platform with conventional fiat currency like INR and USD. You can also buy from e-wallets like Moonpay and UTORG.
Deposit cryptocurrency on a betting site
Once you have your cryptocurrency, all you have to do is find a betting website that accepts deposits in crypto and register on it.
Certain websites will allow you to link your account to your crypto wallet while a few websites will provide an option where you can buy crypto directly.
For depositing through your crypto wallet, select the deposit option and choose the cryptocurrency you wish to deposit. A QR code or a deposit address, generally made of random numbers and alphabets, will appear. Scan the code or paste the link in your crypto wallet to deposit cryptocurrency to your betting account.
Some websites also let you convert fiat currencies like INR, USD, and EUR into cryptocurrencies but they are quite rare.
Since crypto is fairly new to the betting industry, many websites offer bonuses on deposits.
Start betting with cryptocurrency
After creating an account and adding your cryptocurrency to your betting account, you can use it to bet on any sport or game of your choice. You can choose from sports like cricket, horse racing, football, to casino games like blackjack, roulette, slots, teen-patti, etc using cryptocurrency.
Withdraw your winnings
You can withdraw your winnings the same way you deposited your funds. Most betting sites that accept cryptocurrencies share the same payment gateway or portal for both deposits and withdrawals. Hence, if you win a bet, all your winnings will be added to your betting account. From where you can transfer your winnings to your bank or crypto wallet using the portal. A couple of examples of these gateways are Moonpay and UTORG.
As cryptocurrencies are becoming more mainstream, many people have started to buy various types of crypto. Seeing the opportunity, many betting sites have begun to accept cryptocurrencies as a payment option, but you'll find only a few where you'll find flexible payment options.
Here are a few payment options for cryptocurrencies:
Similarly, you can withdraw your winnings by the options offered by a certain bookmaker.
The minimum limit for deposits and withdrawals varies for each bookmaker. For example, the minimum deposit for Ethereum can be 0.01 ETH and the maximum limit for withdrawal can be 1 or 2 ETH.
This entirely depends on your region. While Bitcoin is legal in many countries and jurisdictions like the UK, USA, it is also restricted in a few countries like Nepal, China, Bolivia, and a few others. Hence, if you want to buy or bet with bitcoin, make sure you're in a region where it's legal.
Cryptocurrencies are just as vulnerable to a changing market, however, there are currencies like Bitcoin and Etherium which are convenient and stable. When you use crypto to bet it allows you to play anonymously and as many bookmakers offer crypto-betting, the safety in placing bets is assured.
Wide variety of features aside from their sportsbook section
Cryptocurrency & Fiat currency friendly
Regular promotions for sports betting and online casino
Fast deposit and withdrawals
Has a mobile application
24/7 Customer Service
No phone support
Sportsbet.io is a site that we would recommend to casual and serious bettors, as well as lovers of casino games. Sportsbet.io is a reliable betting platform that is trusted and hassle-free. The betting odds on their website are competitive and accurate. Deposit and withdrawals are easy to make, as well as the wide selection of methods to deposit and withdraw in – a big plus for us.
Creating an account is fast and easy, we were placing our first bet well under 3minutes. We liked that we could create an account using our Facebook, Twitter, Line, or Telegram accounts for registration.
The simple, user-friendly interface allowed us to easily navigate the site, information was easily found, bets were easily made. In comparison to other sports betting websites, you can see that Sportsbet.io has invested time, effort and smarts in creating an interface that just makes sense.
Overall, it is a perfect sports betting site for everyone, from beginners to regular bettors. They give you the best possible odds, and they also provide you with the fun experience that will be hard to find at other sports betting sites.Read Review
More than 2000 games
Flexible withdrawal and deposit options including cryptocurrencies
24/7 Customer support
Accepts INR currency
Limited Customer Support
Even though Bons Casino entered the industry last year, it is one of the popular options. Accentuating basics like a website with a user-friendly design, segregation of games into different categories, and keeping all sections organized demonstrates Bon Casino’s knowledge and credibility. In addition, Bons Casino offers many ways to win extra cash and rewards.
They have a huge selection of games and the welcome offer is also abundant. The security features at Bons Casino show that they take responsible gaming seriously. In conclusion, Bons Casino can be labeled as “new but not a novice”.Read Review
Large selection of games
Multiple Game Providers
24/7 Customer Support
Limited Monthly Withdrawals on some payment systems
There are countless number of betting sites and SapphireBet Casino is not just one among many. It certainly stands out even though it is relatively a new site, launched only in 2018. SapphireBet Casino has a vast reservoir of options with great promotions, a huge selection of games, and accessibility options, which makes it pleasantly surprising.
There are question marks whether it has 5000 or 7000 games but either number is big enough to give sufficient variety and options. There are not any complaints from the users and it impresses in its service – be it in promptness in delivery or providing up to date odds. And yes, one can pay through bitcoins too, a rate option although it is unclear if payment through cryptocurrency can be done from India.
The most impressive of all is betting on football – the richest sport in the world. The site offers highly competitive odds on football at all times with a wide variety of bet types available. You can bet on cricket and other sports too.Read Review
Large selection of games
30+ sporting events
Virtual sports betting
2000+ casino games
Ultra-fast betting and withdrawals
Limited monthly withdrawals on some payment systems
Betadda is a sportsbook that offers a wide variety of markets, including virtual sports, and live events to choose from. It boasts of a live casino and slots, weekly promotions, and ultra-fast crypto wagering and withdrawal facilities. Betadda caters to more than 30 sports and over 300 video slots, tables, and live dealer games consisting of free spins, jackpot prizes, and bonus rounds. The sports betting site is crypto-compatible.Read Review
Huge selection of games
1000+ daily events
Amazing welcome bonus
Accessible in 50+ languages
Multiple payment options
Mobile Apps for both Android and iOS
The website may seem cluttered
No FAQ Section
Founded in 2007, 1x Bet is one the oldest betting sites in the industry which caters to more than 400,000 users with a huge selection of opportunities to bet on sporting events as well as TV games. These also comprise live bets. Some of the features on offer are on the tiniest of points like corners, free-kicks, and yellow cards in a live football game. The website is mobile-optimized and also has apps for both Android and iOS devices. The site offers high odds and easy withdrawal methods.Read Review
9200+ Casino Games
Multiple Game Providers
Different versions for Mobile and Desktop site
Mobile Apps Available For Both Android and iOS devices
Can be viewed in 15+ Languages
No Faq Section
1win is a relatively new bookmaker which has earned a good reputation. Punters will find a huge selection of games, generous welcome bonuses, and promotions. 1win also holds a Curacao license making them a legit online betting site.
Here you can find several sports, online and live casinos to place bets on. They are also equipped with up-to-date payment methods, like UPI, GPay, and Paytm especially for Indian players where they can deposit or withdraw their money very quickly.Read Review
Huge selection of games
1,000+ pre-match daily events
250+ markets on football game
Accessible in 60 languages
Cash-Out as Bet Slip sale
Mobile Apps for Android and iOS
No telephone support
The website may seem cluttered
1xBit is one of the top online crypto-sportsbooks and casinos in the market. It is owned by 1x Corp N.V and was established in 2016. While having a solid reputation in the crypto-gambling industry, all payments like deposits, withdrawals and game bets are done via cryptocurrencies.
1xBit offers more than 50 sports, including esports, and thus offers more than 1,000 pre-match events. Hence, punters can choose from thousands of markets to bet on. In addition, punters will also come across features like betting exchange, multi-live and bet slip sale (cash-out). The bookmaker also offers many different promos and bonuses.Read Review
Has a varied and convenient deposit options like Debit/Credit Card, Net banking, Skrill, NETELLER, UPI.
Provides a great selection of sports & casino games.
Also, live streams sports like cricket, football, horse racing & more, free of cost.
The Customer service is often busy or difficult to reach.
The welcome bonus could be better.
Quick to restrict the accounts of winning bettors.
It is easy to say that Bet365 is one of the better online gambling sites out there. While there is so much to benefit from, there are definitely some areas where they can improve. The fact to take away is that Bet365 is constantly improving. One can see noticeable changes every year. For instance, Adding Payment methods like UPI and Net banking gave variety and flexibility for the participating users.
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Large selection of games
Multiple payment systems
Enticing Welcome Bonus
Multiple Game providers
No Mobile App
Established in 2017, Fairplay is an emerging online bookmaker which has earned a good reputation. At the betting exchange, punters will come across a wide selection of games, welcome bonuses, and promotions. Fairplay has already spread its roots in India and now intends to target the Asian and International markets as well. They hold a Curacao license, which makes them a legit online betting site. They are also backed by West Indies bowler Sunil Narine.
At Fairplay, there are several sports, online and live casinos to place bets on. They are also equipped with up-to-date payment methods, like UPI, GPay, and Paytm, especially for Indian users, where they can deposit or withdraw their money quickly.Read Review
Mobile app for both Android and iOs devices.
Various payment methods.
Good selection of sports and casino games and eSports to bet on.
Welcome offer limited in some countries
Live streaming exclusive to only UK, Irish and Swedish customers.
A resurgent website after a shaky start, Betway has established itself as a credible source for betting on sports. With a wide array of options available in terms of sports and tournaments, the addition of Kevin Pietersen has enabled the brand to build more credibility among the users.
With increasing credibility and relentless efforts towards making the platform more friendly and intuitive for the users, Betway has established itself as a betting brand worth trusting and visiting to experience the possibility of winning.Read Review