People have been suggesting that Bitcoin and blockchain technology are here to change the world’s future, and while this may be true or not, crypto has definitely left a mark in the betting sector over the last couple of years. Most betting sites nowadays accept Bitcoin payments, and there is an increasing number of Bitcoin betting sites that appear every day.
In this article, we will tell you which are the best Bitcoin esports betting websites and everything there is to know about Bitcoin in the gambling world.
Brief History of Bitcoin
Bitcoin’s history started in 2008 when a user under the pseudonym Satoshi Nakamoto posted his paper about a secure open source peer-to-peer electronic payment system. Thanks to blockchain technology, all transactions can be completed with a high level of security without the interference of any centralized authority.
The price of the coin was at just a couple of cents at the beginning, but through the years, it rose constantly, and since its price skyrocketed in 2017, Bitcoin has become a global phenomenon that has ushered in a whole ecosystem of cryptocurrencies.
Because of its increasing price, very few people are using Bitcoin to complete transactions but hold it until its price increases so they can make extra money from selling it. There is one space where Bitcoin sees some use, though, and this is in the gambling world, with multiple people using their Bitcoin fractions to place bets and have fun!
Which Are The Best Bitcoin Esports Betting Sites?
It took Bitcoin a few years to reach mainstream attention, but now everybody has become familiar with this cryptocurrency in one form or the other. Many traditional sports betting sites started accepting Bitcoin thanks to this popularity and anonymity features, leading to Bitcoin dominating the gambling world.
Although many betting sites are simply adding Bitcoin to their accepted payment methods, there are so-called crypto betting sites and even Bitcoin betting sites that accept a plethora of cryptocurrencies together with other popular payment methods.
The problem is that some of those sites are not legitimate, and seeing a bookmaker accept only cryptocurrencies is not a sign of a reliable website. It might mean that the bookie is trying to avoid paying taxes or exploiting some financial loophole.
The main reason gamblers prefer to do their transactions with Bitcoin is its absurdly low transaction fees which no other payment method can match. So even though there are many shady crypto sportsbooks, there are also a lot of legitimate Bitcoin esports betting sites, and it is important to know at least some of them.
Stake
Stake was initially created in 2017 as a crypto casino mainly operating in Serbia, but thanks to its success, it quickly became one of the largest names in the esports betting world, covering a variety of esports games and doing an excellent job at it. It provides solid odds with a great combination of betting features perfect for esports gamblers.
The thing that Stake does differently than any other crypto betting site is that it offers a unique wallet for eight different crypto coins. Thanks to that, you will keep your money in crypto when you make a deposit. This allows you to place esports bets directly with Bitcoin and other cryptocurrencies without needing to exchange them for dollars.
Luckbox
Luckbox is one of the newest addition to our list of esports Bitcoin betting sites, but it has repeatedly proven that it is a trustworthy bookmaker and ideal for any bettor that wants to use Bitcoin. The website has a very modern design, and it provides everything you need for a comfortable esports betting experience.
You can bet on all the major esports titles like Counter-Strike: Global Offensive, Dota 2, and League of Legends, and even smaller games like Warcraft III and Hearthstone. The betting process is straightforward, and the only problem you might encounter is not knowing which betting markets to choose from its huge offer.
EGB
EGB has become very famous in the last few years because of its dedication to providing the best esports betting experience. The website can feel more like an RPG than a traditional esports betting site since there is an avatar that represents your profile, and you can equip it with items that give you slight bonuses on your betting. Betting feels dynamic, and there is always something to do.
The payment options offered by EGB don’t disappoint, and you can find everything from conventional banking options to Bitcoin and even paying with in-game skins. Very few quality sportsbooks accept skins, and EGB is probably the best amongst them.
Thunderpick
Thunderpick is one of our favorite bookmakers for esports betting here at Esports-Gamblers, and one of the best websites if you want to bet with your Bitcoin. It is fully licensed to operate a sports betting site, and its services have been tested and approved by qualified auditors.
You can find a great variety of esports to bet on, with multiple promotions for some of the biggest tournaments worldwide. Take a look at Thunderpicks’s betting section, and you will find excellent live betting markets and even a free live stream for most of the matches you can bet on. Betting becomes a real pleasure, thanks to Thunderpick’s service.
Parimatch
Parimatch is by far the most popular bookmaker on our list, with more than 30M monthly visitors. Although it initially focused mainly on sports betting, it has added a lot of esports options over the last few years, giving a significant boost to its player base.
Moreover, thanks to its modern payment methods like cryptocurrencies and e-wallets, it is easy to deposit and withdraw funds, something synonymous with any good betting website.
The customer support is really fast and efficient, and it will surprise you how easy it is to have any issues fixed by their professional team. If you are tired of esports betting, you can visit the excellent casino of Parimatch and enjoy thousands of games. You can’t go wrong with Parimatch.
How To Use Bitcoin On Esports Betting Sites
It is important to understand that in most cases, you will have to exchange your Bitcoin for USD and this complicates using Bitcoin for deposits and withdrawals since you need to be aware of the price of Bitcoin and what its future might be.
Be careful with Bitcoin since its price can fluctuate greatly. If you think it is going to zero, it’s a good idea to start betting with it, but if you think it will increase in value, it is better to hold it as an asset.
On almost all gambling sites, you will find no fees for Bitcoin deposits, and the transactions are executed almost instantly. Sometimes for withdrawals, you will see that it might take a few days for a payment to be complete, but that is due to the bookmaker ensuring that all your winnings are legitimate and not the result of any fraudulent activities. Once everything is clear, your money will be in your account in just a few minutes.
How To Deposit With Esports Betting Sites That Accept Bitcoin?
Making deposits with Bitcoin is probably the easiest and fastest way to fund your esports betting wallet if you already own cryptocurrency. The process is straightforward, and it is really hard to get it wrong.
To deposit with esports betting sites that accept Bitcoin, you need to do the following steps.
- Log in to your account on an esports betting site that accepts Bitcoin
- Head to the cashier page and click “deposit”
- Choose Bitcoin as a payment option and type the amount you want to deposit
- Copy the address you will get and paste it to your Bitcoin wallet
- Done
The transaction shouldn’t take more than a couple of seconds, and after that, you will have your money on your betting account, ready to go.
How To Withdraw With Esports Betting Sites That Accept Bitcoin?
The withdrawal process from an esports betting site is as easy as the deposit, although not all of the bookies that accept Bitcoin deposits allow for withdrawals with it as well. You should keep this in mind before you join a gambling site if withdrawing in crypto is important for you.
To withdraw with esports betting sites that accept Bitcoin, you have to do the following.
- Log in to your betting account
- From the cashier page, choose the withdrawal option
- As a payment method, choose Bitcoin and enter your withdrawal amount
- Paste your Bitcoin wallet address, and hit continue
- You are done
As you see, the process is really simple, but it is important to ensure you are pasting the correct address. Bitcoin wallets only accept Bitcoin, so if you try to withdraw any other cryptocurrency, you will lose it forever.
Online Betting With Bitcoin: Pros and Cons
Bitcoin by itself is a highly controversial topic, and so are Bitcoin payments and crypto esports betting in general. Even though there are a lot of benefits to using Bitcoin to make your payments, there are also disadvantages that you need to be fully aware of before you decide to bet with it.
One of the main disadvantages of Bitcoin is that if you type the wrong address, your money is gone, with no chance of getting them back. With more conventional payment methods, like debit/credit cards or even e-wallets, you will not lose anything if a transaction fails.
Thankfully, when depositing money with Bitcoin, many crypto esports betting websites allow you to do it by scanning a QR code from your wallet application (if it supports one). This is the safest method of making transactions since there is no margin for error, so you can always be sure that your money will arrive safely. It is also the fastest method since it requires no typing, just your phone with a working camera.
The biggest positive of using Bitcoin is the complete anonymity of your transactions. That was the whole concept with the creation of Bitcoin that no one will be able to control your transactions. No central mechanism is responsible for processing the payments, so the only thing someone can know about you is your Bitcoin address. All other information is encrypted and only accessible to you.
Advantages Of Using Esports Betting Sites With Bitcoin
The reason that Bitcoin is praised by so many as the technology of the future has been stated many times, but not many people talk about the benefits of crypto esports betting. So this is what we will do here.
Some of the advantages of using esports betting sites with Bitcoin are the following.
- Highest levels of security and encryption
- Very low fees per transaction
- Accessible to everyone with an internet connection
- Complete anonymity
Disadvantages Of Using Esports Betting Sites With Bitcoin
Bitcoin is by no means the perfect payment method available on sports betting sites. It is one of the best, but some aspects of it are not ideal for esports betting.
Below you will find the biggest disadvantages of using esports betting sites with Bitcoin.
- You need to own Bitcoin
- The price of Bitcoin is volatile
- All transactions are 100% final
Bitcoin Betting Alternatives
If the disadvantages of Bitcoin esports betting are a bit too much for you, you can find many alternatives that will give you some of the benefits of Bitcoin without its big drawback. Although it is hard to find payment methods that can perform better than Bitcoin, we will give you some of the strongest competitors.
Other cryptocurrencies
Bitcoin is definitely the king of cryptocurrencies, but there are many other coins out there, and since all of them came after Bitcoin, they are improved versions.
For example, many bitcoin esports betting platforms will accept USDT, a cryptocurrency pegged to the dollar price. That means that one USDT equals one dollar, making it ideal for transactions since its price will not increase.
Litecoin is another strong competitor to Bitcoin in the crypto esports betting world since most gambling sites accept it, and it is even faster to make transactions with lower fees.
Ethereum is the second largest cryptocurrency in the world and also one of the best alternatives to Bitcoin since it does what Bitcoin does but better. The technology that Ethereum uses is an advancement on Bitcoin’s algorithm, and its uses are pretty much endless. With such strong potential, the gambling sector is ready to take your Ethereum coins if you think you don’t need them.
Skrill
Skrill is an online payment provider that is extremely popular among esports bettors. Thanks to how easy it is to make deposits and withdrawals but also in part to the low fees it charges, Skrill is always a great choice. In addition, Skrill is accessible in over 200 countries and 22 currencies, so you can almost certainly create an account there.
Of course, the fees in Skrill are higher than in Bitcoin, but compared to most traditional payment options, they are not that significant. The main reason that esports bettors prefer Skrill is the anonymity it can guarantee to its users. You can make payments just by giving the email connected to your Skrill account.
Conclusion
Bitcoin has a strong presence in the esports betting world, and an increasing number of bookmakers are starting to accept it as a payment method. It is hard for any payment provider to compete with what Bitcoin has to offer, and it is set to become the leading payment method in the gambling sector, thanks to its fast and anonymous transactions.
If you haven’t tried using Bitcoin for betting, you should definitely give it a try, join a crypto esports betting site, and you will never look back!
FAQ
Which online betting site is the best?
The best online betting site is Bet365, and it is also the biggest gambling website in the world, with more than 200 million visitors passing through it every month. Any esports bettor will be completely satisfied with what Bet365 has to offer, and very few betting sites can stand up to Bet365’s standards.
Can you bet on sports with Bitcoin?
Yes, you can bet on sports with Bitcoin on any online betting platform that accepts it as a form of payment. Be aware that in some cases, you might get your Bitcoin exchanged for FIAT currency which is not the same as placing a bet with Bitcoin. Stake is an excellent choice for crypto esports betting since you can hold your crypto in the platform’s wallet and bet with it directly.
Can I bet on esports?
Yes, you can bet on a wide variety of esports games on any online gambling site that offers esports betting markets. Some of the most famous esports betting sites are Bet365, William Hill, GG.Bet and Parimatch. They all allow you to bet on major esports titles like Dota 2, Counter-Strike: Global Offensive, and League of Legends.
Which betting site can I deposit with Bitcoin?
Some of the betting sites you can deposit with Bitcoin are Stake, EGB, Luckbox, and Parimatch. Pretty much any modern gambling site will also offer crypto esports betting because of the popularity of esports and cryptocurrencies, especially among the ages of 18-34.
Where can I bet on CS:GO matches?
You can bet on CS:GO matches on multiple betting sites like Thunderpick, DuelBits, and Everygame. Counter-Strike: Global Offensive is such a popular title to bet on that pretty much every gambling site will try to cover it to appeal to its huge audience.
