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Nowadays, it is impossible to deny the popularity of cryptocurrencies and in particular its most popular representative namely Bitcoin. Bitcoin still has the reputation of the most famous and widely used cryptocurrency coin, and it is used for various purposes. But in our particular case, we are interested in the possibility of its use in betting on cybersports.
Of course, every online bookmaker has not yet started accepting bets on bitcoin, but the number of betting portals accepting different types of cryptocurrencies is growing every day. Barely two years ago, you should have made an extra effort to find a high-quality bookmaker that could accept bitcoin, but nowadays you can find quite a lot of such websites.
No matter what kind of cyber sports you are going to be betting on, in this article you will learn everything you need to know in order to start using Bitcoin as a payment method for your bets without any problems. Almost every bookmaker that offers its guests the opportunity to place bets in cryptocurrency has in its arsenal Bitcoin as the most widespread cryptocurrency.
Table of Contents
How bitcoin made its way to global leadership
Beginning of the global cryptocurrency revolution
Bitcoin is an innovative payment network and a new type of currency that is used for almost all online resources, including cybersports betting. When it comes to discussing cryptocurrency, Bitcoin is the currency that comes to mind first. Although Bitcoin has only been around since 2009 and is not actually based on anything physical, like gold, that hasn’t prevented its total value from skyrocketing to around $1.2 trillion dollars.
At this point, most major companies accept bitcoin, as several hundred million users have this cryptocurrency. Among them are websites that are accepting esports betting.
Why bitcoin and esports bets are a great match
Betting on esports using bitcoin
The entire world is now using cryptocurrency for sports betting, and there are a number of reasons for this. First of all, Bitcoin has an extremely high security level and highly anonymous transactions. Secondly, Bitcoin has become popular mainly due to the fact that no commission is charged for the vast majority of transactions. Thirdly, all payments in most cases are received significantly faster than with traditional payment methods.
In addition to all of the above, bitcoin wallet does not require verification, which means that you do not need to provide your personal information to betting companies. Thanks to the absence of intermediaries in the processing of payments transactions are not tracked by anyone, and you in turn preserves your anonymity and can avoid leakage of personal information and verification from the banks.
How to start betting in bitcoins
Definitely, the popularity and demand for Bitcoin is already at a very high level, but since such means of payment are relatively new on the market, many people still have a poor understanding of how to make bets using this cryptocurrency.
Well, it is not difficult, you just need to get a little bit of information and you will never have any more difficulties with betting on bitcoins. Everything you need to do is described below:
- Choose an online bookmaker that accepts bitcoins. You should find a reputable betting website that accepts cyber sports betting with cryptocurrency. Alternatively, you can choose a betting site from our ranking of the best cryptocurrency bookmakers.
- Choose an exchange. This should be necessary to do if you don’t already have your own personal cryptocurrency wallet. You can easily create this kind of wallet on this type of cryptocurrency exchange.
- Buy Bitcoins. For this purpose, you can always find detailed insturctions on your chosen exchange.
- Make a deposit. Transfer the required amount from your wallet to your created account in the selected cryptocurrency bookmaker.
- Begin making cyber sports bets.
Bitcoin betting vs. Traditional betting on esports
When it comes to actual Bitcoin bets they are practically identical to those that are offered at bookmakers . You can bet on winning, losing, and also bet on the featured action: who will win the first round, who will get more prize points, and so on. But crypto betting provides you with the enhanced opportunities provided by the blockchain technology involved in every transaction:
Speed of transactions. Your deposit to the bookmaker’s office arrives to your balance very quickly regardless of the payment system, while the withdrawals through e-wallets and bank cards can take hours and days. Cryptocurrencies do not have this disadvantage, as transactions in them are processed faster. Usually, such transfers are performed automatically without manual verification. The absence of intermediaries also helps to speed up withdrawals, because the online bookmaker transfers money to your cryptocurrency wallet, bypassing payment services and banks.
Low commissions. Commissions for deposit and withdrawal are not charged by the bookmaker’s office, though sometimes they are provided by the exchange or exchanger. But there are no additional charges for direct transfers from the wallet to the balance and back.
Security. Among the wallets for BTC you can find reliable options, which security is more secure than with traditional payment systems. Crypto bets on cybersports in bitcoin and information about them can not be falsified thanks to the digital signature for each data block.
Anonymity. A big advantage is the fact that Bitcoin payments do not require your personal user data. All you need to provide for transactions is your wallet address.
Limits: why betting on cybersports with bitcoin may not always be easy
Despite the constantly increasing demand for Bitcoin, not every online betting company has this cryptocurrency in its arsenal of payment methods. Many bookmakers still don’t allowing betting with Bitcoins for whatever reason.
But this is not a real problem, because there already are some bookmakers with a good reputation, on whose websites you can conveniently make deposits and withdrawals in Bitcoin and other cryptocurrencies.
Unfortunately, some of these betting websites may charge you high commissions, or not allow you to activate their bonus if you have made a deposit in cryptocurrency. In addition, the volatility of Bitcoin affects its exchange rate, which can change irregularly. Therefore, sometimes it is difficult to understand what size bet you are about to place, but in general it is more of a minor inconvenience rather than a big problem.
Top websites for esports bitcoin betting
Bet with bitcoin on csgo, betting on lol and more
Since not all online bookmakers accept betting in bitcoins, we have carefully analyzed and selected for you high-quality betting sites, where you will not have any problems with money transfers. In our rating there are the following sites:
- The company GGbet is one of the most famous betting platforms that focuses on cyber sports. At this bookmaker you can place bets on your favorite team in one of the most popular competitive computer games at any time. In order to increase the interest of the young audience even more, the bookmaker Ggbet became a sponsor with NA`VI, whose lineups are represented in CS:GO, Dota2, PUBG, etc. Also, the office has a large selection of events related to cyber sports, and about 200 such matches are available to GGbet users on a daily basis.
- Online betting portal Stake is owned by Medium Rare N.V., a company registered in Curacao and operating under license number 1668 / JAZ. Stake.com accepts sports betting in Bitcoins and seven other cryptocurrencies, in besides the betting site provides its guests with the possibility of quick registration. The official Stake website has a good number of promotions, including a cyber sports Welcome Bonus.
- MyStake is a hybrid crypto casino/bookmaker that accepts Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Dash, Monero and Stellar and fiat payment methods. Cybersports fans will also be able to take advantage of a 100% Welcome Bonus. The selection of Live Esports betting on Mystake is very diverse and constantly expanding, offering a large number of MOBA and first-person shooter games such as CSGO. In addition, you can expect competitive odds before and during the game.
- If you are a fan of cyber sports and especially CS:GO, then BC.Game will be a great place for you to make cyber sports bets with cryptocurrencies. BC.game’s portfolio has many cyber sports games, such as the popular gaming disciplines Dota 2, Counter-Strike: Global Offensive (CS:GO), League of Legends (LoL), Overwatch, Fortnite. Therefore, you can choose your favorite game and bet on the victory of your favorite team or player. In addition, this bookmaker has a partnership with Cloud9, which has been for a very long time a globally recognized cyber sports brand with many wins in major tournaments.
Bitcoin betting tips
In the previous paragraph you have learned about the best options for choosing a online betting company that accepts bets on cyber sports and also accepts cryptocurrencies as a means of payment. Now it’s time to find out what difficulties you might have with betting on cryptocurrency. Here are the basic things you need to keep in mind:
- The price of Bitcoin. Bitcoin is a cryptocurrency with a fluctuating exchange rate. Therefore, on the days when you are going to bet on your favorite cyber sports team, check the Bitcoin price rate these days.
- Know your game. Don’t bet on games you don’t know. Place your Bitcoin bets on games that you know and on teams or players that you are fully confident in, otherwise most of your bets will be losing.
- Make sure that you transfer your cryptocurrencies, particularly Bitcoin, with minimal or no commissions. Be especially careful when withdrawing your winnings.
- Check the odds. Always compare odds at different bookmakers to make sure that the odds are competitive. This tip will work fine for regular bets as well, but you should always remember this.
Why more bookmakers don’t accept bitcoin bets?
Bitcoin and other cryptocurrencies have a large number of undeniable advantages in many different fields, and cybersports betting is no exception. But then why can’t all online bookmakers allow you to place a bet using cryptocurrencies? There are several reasons for this.
Not all bookmakers want to deal with the complexities that come with fluctuating cryptocurrency rates, as many cryptocurrencies have high volatility. In addition, many people still can not accept the fact that most of the cryptocurrencies are legitimate, and are used in many areas completely officially.
Moreover, it is impossible not to recognize the fact that many bookmakers simply do not want to implement additional payment measures, as they are quite satisfied with payment methods that operate with conventional fiat currencies. Besides, many people are still too lazy to deal with cryptocurrency, despite the large number of advantages of such currencies.
But time is moving forward, and cryptocurrencies are appearing in the most respectable bookmaker’s offices, so in fact it is a matter of time, and soon all betting websites will provide their customers with the option of payment with cryptocurrencies and in particular with bitcoins.
Things to remember when betting with bitcoins
When you bet on cyber sports using Bitcoins, you certainly get a lot of advantages, but also there are some nuances. For maximum profit, we advise you to take into account a couple more tips:
- Always keep an eye on the price. The price of Bitcoin can change over the course of an hour, so always keep an eye on its price when betting on cyber sports.
- Bookmaker commissions. Before choosing a cryptocurrency exchange and Bitcoin betting service, check what commission they charge for their transactions and how competitive they are.
- Understand the blockchain. If you understand the meaning of this technology well, you can save a decent amount of money in the future by avoiding common mistakes in Bitcoin transactions.
Final things about bitcoin betting in esports
Major players in the betting market already include Bitcoin in the list of their payment options, and now we have to expect that every online bookmaker will accept this cryptocurrency without any problems and unnecessary commissions.
Cybersports competitions are held almost every day, so you will always have the opportunity to bet on exciting gambling events using Bitcoin. The most popular games you’ve probably heard of more than once are Call of Duty , Fortnite and Counterstrike, although there are plenty of equally worthy games on the market that we recommend paying attention to.
And nowadays you can place your bets on all these games using a very profitable, fast and anonymous way of depositing your funds, so we recommend that you understand Bitcoin betting as soon as possible, and start making good profits from your cyber sports Bitcoin betting.