Bitcoin is a relatively new payment method, having been launched in 2009. But despite that, this digital currency is commonplace at the best sportsbooks. Just visit the bookmaker, go to the “payments” section, and you’ll see Bitcoin among the options.
But before betting with BTC, creating a Bitcoin wallet is a must. Wallets act as bank account in the digital payments world. This is where customers buy and sell coins and even pay for services. Some popular Bitcoin wallets include Coinbase, Exodus, and Electrum. Players can also exchange FIAT currencies with Bitcoin using standard e-wallets like Neteller and Skrill.
It’s vital to note that the Bitcoin wallets require users to complete a short ID verification process before purchasing coins. Usually, they ask for a copy of government-issued ID/driver’s license and proof of residence. Just follow the simple instructions to get it done in a few minutes. Then, use your linked bank account or credit/debit card to purchase some bitcoins.
Funding a sportsbook account with Bitcoin
After getting some coins into the wallet, it’s time to fund the bookie account. Again, the process is fast and straightforward. Just open a sportsbook account and copy the BTC address. Now go to the BTC wallet and transfer some coins to the sportsbook by pasting the recipient’s address.
Deposits are usually instant. Note also that Bitcoin sportsbooks require minimal registration details. This means players can stay anonymous even in countries where gambling is illegal.
Meanwhile, deposit bonuses are quite common among Bitcoin sportsbooks. These rewards mainly come in the form of a match-up percentage for the initial deposit. The objective is to encourage punters to bet using Bitcoins more often. Both the bookmaker and the player stand to benefit a lot from quick and cross-border Bitcoin payments.