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Betting Online Using Bitcoin – Easy How to Guide

bitcoin betting online

Bitcoin betting, it’s still fairly new but it’s probably the best way to bet online for players in the U.S.A and those that deposit and(or) win big, you can use it to bet on Sports, Casino, Poker or horses “or any other option of your choosing”. The problem is when this currency launched to the average Joe it was a complex process when compared to giving your Credit card details or asking the bookie to send you a check in the post. now with most Top rated Sportsbooks and Casinos accepting the electronic currency it’s one of the best ways for players to wager online.

In this article I’m going to teach you how to setup and bet with bitcoin the easy way! if you have ever used paypal then this will be a cinch and well within your capabilities and if not keep reading and we will show you how easy and fast it is to use.

Sportsbooks & Casinos that accept bitcoin

We have put together a full list of Sportsbooks for Bitcoin betting along with a separate Online Bitcoin Casino list, Here you will find only the best online sites to wager with bitcoin. Players are accepted from across the globe and when using BTC the sky’s the limit when taking payouts on your winnings.

Benefits of using bitcoin for betting online

  • Fast: no waiting for wires or checks it’s almost instant “Few minutes at the most”
  • Safe: No need for adding credit card details or for that matter any personal payment details when making transfers
  • Limits: With most places there are none.. so no excuses.. 20k deposit into your bitcoin account in a touch of a key! Depsoits or withdrawals is a breeze
  • Easy: Right now it’s never been easier to make a transfer or to receive bitcoin to your bitcoin account, keep reading for our easy bitcoin betting
  • Access: 24/7 access to your coins, do what you want when you want, change for cash, vouchers or exchange and send straight to your bank within minutes.
  • Deposits: You can use any method to purchase bitcoins, Paypal, Wire, Checks, Cash, Neteller, Skrill, Prepaid Top up, even Amazon vouchers within a few minutes

I’m not going to go into the the complex workings of bitcoin and block chain, Unless you are mining coins, a Tech freak or a Geek it’s really irrelevant on how it’s created, What I am going to show you is to Easily get setup with bitcoin so you can use it to bet online with no hold backs, and most importantly how to turn it back into cash all within a few minutes!.

Setup Bitcoin Wallet

First you are going to need a Bitcoin Wallet to keep your coins in safe and secure, We Recommend using Xapo it is the simplest Bitcoin wallet of them all and can be used via your mobile or desktop computer, there is also a cold vault storage which is a great place to keep large amounts of bitcoins safe, or just somewhere to store them so you dont spend at the spur of the moment. The Cold storage vault is a physical safe for your coins and is completely insured against theft or loss. however with all the extra security bitcoin software now has these days it wont be a problem.

*For players outside of the USA Xapo also has a debit card option so you can draw money out of the ATM or make purchases using the debit card in real time using your bitcoin funds.

Setup Bitcoin Exchange account

Now to buy bitcoin or to take a payout by bitcoin you will need a way of changing it from your local currency to coin then back again when cashing out, for this we recommend one or both of these two options. 1, Local Bitcoins Where you can trade Cash, Ewallet payments, Neteller, Paypal, Bank transfer etc with someone local or international for the best rates and almost no fees within a few minutes.. typical is 45 mins but money transfers like western union or moneygram could take a little longer, each trader has their own limits.

The 2nd option is use an actual exchange like CEX.IO This is similar to buying foreign currency online and getting it transfered to your bank wheter it be the USA, Europe, Australia, Canada or China “Or anywhere global”. its a simple transfer your coins into account then sell/buy at a price you are happy. One thing to mention is with bitcoin you can make $10-100 daily in currency value but also lose it, so always make sure the price is at a reasonable level before you buy/sell.

Transferring bitcoins

Now you are all setup with methods of turning cash into bitcoins or bitcoins into cash, How do you send and receive bitcoin funds to the sportsbooks, Casinos, or Exchanges? very very simple.. You will need first your bitcoin Ewallet Address you usually click into wallet then to My Address to get this it will look like this:bitcoin addy

Here there are actually two Address.. One Text and one is a visual QR Code.. they are both actually the same but just have different methods for use, the 1st text method is great if you are using a desktop, you just highlight copy and paste as your payment details wherever you use “Bookie, Exchange etc” this will be the address all your bitcoin funds are delivered too.

The second image “QR Code” is what you can give to those using mobile devices like android or iphone, they can scan the barcode and this will add your address into their wallet for transferring funds to yourself. I nearly always use the text address as i prefer to make financial transfers from my desktop. but the barcode option is there if you need it.

 

When sending funds to other users or entities it’s just as simple, they will give you an address like the one shown above then you click send bitcoin copy and paste the address into the empty field and type in the amount of bitcoin you want to send. most wallets have the current bitcoin price in real time in your preferred currency $, € etc. you can use either to enter the value you wish to send.

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