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https://esportsgames.club/esports-betting-with-bitcoin/Esports Betting with Bitcoin

Esports Betting with Bitcoin

Since Bitcoin gambling is a new phenomenon, there are not a lot of sites that accept payments in the form of the cryptocurrency. However, some modern online gambling sites do accept Bitcoin betting. Some of these sites that accept Bitcoin are the following.

Best eSports Betting Bitcoin Sites
Site Games Rating Highlights
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7 review LoL, Dota 2, CS:GO
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8 review LoL, Overwatch, Fifa, CS:GO, COD
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  • BetOnline

BetOnline is a wagering site that provides a 100% match deposit bonus on Bitcoin on your first deposit if you are a new member. To be eligible, you need to make a minimum deposit of $20; the maximum amount you can match on is $1,000, which means you can get $2,000 in this cryptocurrency.

  • Bovada

Bovada offers a 50% Bitcoin match deposit bonus, which can go up to $500 for new users making deposits via this cryptocurrency. The bonus can be used to bet on available eSports markets like StarCraft, League of Legends, Dota 2, and CS:GO. While the number of available eSports markets at Bovada is limited, it is growing slowly and gradually.

  • Nitrogen

Nitrogen is considered one of the best options for eSports betting markets because Bitcoin eSports betting entirely powers it. You will be able to wager on different games and tournaments like StarCarft II, Dota 2, and CS:GO. Betting on lesser-known games like Overwatch, Halo, and Heroes of the Storm are available.

What Is Bitcoin eSports Betting?

Betting on eSports has is very popular today, mostly thanks to the years of building up momentum. With the arrival of cryptocurrencies like Bitcoin, its reach grew even wider.

Thanks to the evolution cryptocurrencies, eSports betting is now bigger than ever! Many bettors and gamblers bet with Bitcoin to place wagers on major eSport competitions and tournaments.

As the name suggests, Bitcoin eSports betting is placing your wager on a team using Bitcoin. There are many aspects of cryptocurrency wagering, all of which are explained here.

What Types of Bets Are Available at Bitcoin Betting Sites?

There are many different types of sports betting at the best Bitcoin sites. However, most of the wagers take place in five main types, which include:

  • Moneyline

Moneyline is the most straightforward type of wagering today. All you need to do here is place your wager on the team that is likely going to win. The odds are expressed in fractions, decimals, or American odds.

  • Point Spread

The basic idea behind Bitcoin spread betting is that you need to bet on eSport events that have fairly even odds. This means that the favorites need to win by the set margin or more; similarly, the underdog needs to lose by a set margin or less.

  • Parlays

In parlays betting, you will be allowed to stack the games together to increase the overall payout of your win. In most sportsbooks, you will see that bettors need to wager three selections to play the parlay-style wager.

Both point spread and money line wagers can be included in this.

  • Futures

As the name suggests, this type of bet appeals to bettors who are making a long-term prediction. For instance, you can choose at the start of the tournament which team will win the finals and lift the cup.

  • Props

Short for proposition, a props bet allows you to wager on certain occurrences of a specific event within the game. For example, you can place a props bet on which player draws the first blood. This wager does not depend on the outcome of the game.

Hot eSports Betting Bonuses in UK
William Hill
100% Bonus up to £300
Review
Unibet
100% bonus up to €100
Review
Smarkets
£10 Welcome bonus
Review

The Benefits of Using Bitcoin for eSports Betting

This cryptocurrency is secure, fast, and very simple to use once you have successfully set up your wallet. You will be able to make deposits easily at online sportsbooks like Nitrogen and Bovada. The transaction fees are minimum, mostly between 0% and 2%.

The best benefit of using Bitcoin betting sites is the privacy and security they offer. Of course, all licensed bookmakers make use of 128-bit Secure Socket Layer (SSL) encryption technology on popular payment methods like credit cards. Some people want additional peace-of-mind while betting. If you wish to make a deposit or withdraw with the help of this cryptocurrency, the site will not ask you for financial and personal information.

Betting with Bitcoin is considered safer than most other forms of payment because a new private key and address are generated. The private key is used to verify the ownership and validate your cryptocurrency transfers.

The last advantage of Bitcoin is that you are in control of your Bitcoin wallet since this mode is entirely decentralized. This means that you do not have to worry about third-party organizations like government groups and banks while managing your funds.

How Our Bitcoin Betting Sites Are Rated

Of course, choosing the best Bitcoin gambling sites can be a difficult choice. In a short time, several betting sites arrived at the eSports betting scene at once.

Our list of cryptocurrency wagering sites has been reviewed positively and have high-star ratings. Additionally, all these sites are fitted with all the features and functionalities that will enhance your online betting experience.

Pros and Cons of Bitcoin Betting

Here are some pros and cons of using Bitcoin gambling sites:

Pros

  • The transactions are private

The main advantage of Bitcoin betting UK gambling with Bitcoin is the high-level of anonymity that allows online bettors to keep their identity private. Most of the cryptocurrencies that exist today ensure that no third-parties access your personal data and know about your losses and/or gains.

  • Transparent and fair, by default

Thanks to the fair nature of blockchain, you can check whether the outcome of any game was determined by Random Number Generator (RNG) or been tampered with. Thanks to this feature, you can ensure that the game is fair, and the sportsbook cannot change the nature of the wagers placed.

  • No legal restrictions

Online wagering and gambling are not yet legalized in many countries. Hence, your bank might refuse to proceed with your transactions to-and-fro online gambling sites.

However, if you visit Bitcoin gambling UK sites, there are no legal consequences of making payouts and accepting deposits in Bitcoin. Since there are no third-parties involved, you do not have to link your credit cards or pay transaction fees to financial institutions.

Cons

  • The transactions are irreversible

Unlike credit card payments and bank transfers, reversing a transfer fund done via cryptocurrency is impossible. If you make use of the wrong wallet code in the transfer, you can end up losing your money. While it can be avoided easily, it is always better that you remain careful.

  • Volatility

Any cryptocurrency you take, like Bitcoin, fluctuates wildly at times; on the other hand, fiat currencies are much more stable. This volatility can unpredictably affect profits and losses.

Where Do eSports Bookmakers Keep Their Bitcoins?

Most bet online with Bitcoin bookies keep a significant chunk of their Bitcoins on offline storage devices like a memory card or USB drive. This ensures that the reserves are kept safe, in case of security issues and events like hacks, etc. Of course, your withdrawal requests will not be denied since there are always enough Bitcoins online for daily transactions.