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Bitcoin has heralded a return to the golden days of online sports betting as it offers so many advantages, such as speed, safety, freedom and ease of use. Major sportsbooks have embraced it and made bitcoin core to their strategies going forwards, but knowing which one to go for can be a bit of a minefield. It is also only one element to consider when choosing which bookmaker to give your business to, and needs to work in conjunction with strong lines, competitive odds, liquidity and overall customer satisfaction. It is therefore helpful to bring together details on how easy it is to use bitcoin at various sportsbooks and blend that with reviews from a trustworthy third party review site like sportsbookreview.com. We have therefore compiled this analysis of how using bitcoin will help you as a player, bringing in an SBR rating of trusted bitcoin betting sites to help you navigate this brave new world.
There are several advantages to using Bitcoin when betting on sports online. Bitcoin is a global, unrestricted currency. Sports betting is a grey market in much of the world, and Bitcoin affords players the anonymity to navigate legislative restrictions and tax demands in local markets. It has essentially brought globalisation to the sportsbook industry. The anonymity it affords also makes it impossible for a sportsbook to limit you for winning too much. This has been a huge problem for players over the years. Another, slightly more minor, annoyance, has been sportsbooks getting hold of your personal information and bombarding you with irritating marketing communications and/or passing it on to third parties, which then bombard you with their own advertising. With bitcoin, you do not have to share personal information and all the sportsbook sees is a transaction number. The whole process comes with more safety than using fiat currencies. But the anonymity will not come back to bite you as reputable sportsbooks operate with provably fair technology.
Bitcoin is quick and easy to use. You can play internationally without worrying about exchange rates. There are no hidden fees, handling fees, conversion fees or other transaction fees associated with using bitcoin. It has been designed specifically as a global, digital currency that allows you to sidestep such concerns. It is also a more cost effective currency for sportsbooks themselves to use. That allows them to offer more competitive odds and currency fees do not eat into their margins, making it more attractive to bet with them. This is particularly true of sportsbooks set up solely for the purpose of bitcoin betting.
However, it is imperative that you wager money with reputable sportsbooks. They have the liquidity and the industry standing to give you confidence that your bet will be paid out in full and on time. There have been countless instances of new sites setting up and luring customers with attractive odds but then defaulting on paying winnings. That is why you should always go on an independent site like SBR and check how well the bitcoin sportsbooks you are considering betting with have performed. Leading sportsbooks Bovada, Bookmaker, BetOnline, 5Dimes and Intertops have all started accepting bitcoin in the last few years and they are great options. They blend the advantages of using bitcoin with the pros that come with using a trusted, established, independently rated sportsbook. Bookmaker, 5Dimes and BetOnline all have an A+ rating, while Bovada and Intertops both have an A rating. That means these sportsbooks are considered the best in the business based on years of customer feedback. It means the community at large has submitted overwhelmingly positive feedback on the level of customer service and most crucially the speed and reliability of payouts at those sportsbooks. They all differ slightly when it comes to using bitcoin – for example they have different limits and one, BetOnline, charges a withdrawal fee – but you can be safe in the knowledge that they are all safe, reputable and easy to use, and then choose the one offering the best odds.
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