Bitcoin Sports Betting For Beginners: Getting Acquainted With Bitcoin & Betting

As multiple sports leagues continue to deliver action-packed matches, Bitcoin sports betting also grows in terms of winning opportunities presented. By now, almost everyone has encountered Bitcoin or at least one form of crypto. However, even though Bitcoin is more prevalent than ever, there are a number of pointers you should keep in mind before using your digital coins to bet on sporting events like the NFL, Premier League, Bundesliga, La Liga, and more.

Explore your options

The sportsbook selection for Bitcoin bettors is more diverse than ever. But, you have to remember that your mileage may vary here. Looking at the different advantages and disadvantages of each sportsbook is a must. Some sportsbooks accept direct Bitcoin payments. Others convert your BTC to fiat. On the other hand, some sites specialize in particular sporting events, while others offer a more diverse odds selection. Ultimately, most platforms share the Bitcoin advantage, which provides convenient, fast, and hassle-free sports betting from start to finish.

Plotting your path will eventually lead you to the perfect sportsbook that matches your needs. For starters, we provide relevant and timely sportsbook reviews that showcase the best of the best in Bitcoin sports betting.

Betting 101

Once you lock in on a sportsbook, you will then have to create an account. Again, each sportsbook may implement different registration processes but will usually require users to provide information such as a username, password, e-mail, and to accept the general terms and conditions. Meanwhile, select brands like Nitrogen Sports(review) employs fast account creation that takes no more than a minute.

Next, you will have to fund your gaming account with bitcoins by sending them to the sportsbook’s provided address. Once your deposit reflects on your account balance, you can start betting then and there. Choose the game or sport you want to wager on, and finalize your bet once everything is in order.

If you get the right pick, just wait for the funds to be transferred to your account. Be sure you provide Bitcoin wallet address correctly.

Key points

First, choose a good wallet. Look up the best storage units for your crypto coins and select one that fits your needs and gels well with your device. Do not use exchange sites as your Bitcoin wallet. Once you purchase your digital coins, transfer your funds to your Bitcoin wallet right away and not directly to the betting platform.

Bitcoin is known for its active price fluctuation. Keep an eye on the price movements when using Bitcoin-exclusive sportsbooks. Don’t disregard Bitcoin’s price volatility and the fact that it can instantly spike or drop in short periods of time.

Last but not least, do not bet what you cannot afford to lose. Betting can be fun, but only if you can take the hit when losing. Don’t rush Bitcoin sports betting. Get the grips of Bitcoin and online betting, familiarize yourself with the sport you bet on, and be rewarded with each wager.