These days, cryptocurrency is everywhere and is being used for practically everything; buying from eCommerce sites, investing, and, of course, betting.
Betting, whether it is on sports or casino games, has been around for hundreds of years. Now, it is getting the crypto treatment with crypto betting sites popping up everywhere.
But what is crypto betting, exactly?
Well, as the name suggests, it is just like ‘traditional’ betting, but with cryptocurrency on the line instead of fiat currencies like USD and GBP.
Because cryptocurrency itself is so popular, crypto betting is also getting a lot of attention and being enjoyed by crypto lovers everywhere. This has led to an influx of crypto poker sites, crypto dice sites, crypto roulette sites, and many more!
That’s exactly why this article will cover everything about crypto betting, from what it is to what the best crypto betting sites out there are!
So read on to learn:
- 20 Best Crypto Betting Sites World-Wide in 2022
- How to Pick a Crypto Betting site
- Benefits of Crypto Betting
12 Top Crypto Betting Sites World-Wide in 2022
7 Things to Consider When Picking a Crypto Betting Site
As exciting as it might sound to just go out and start betting with crypto, you have to be very careful when choosing a crypto betting site.
Just like with traditional betting, shady crypto betting sites are a thing. So, if you choose the wrong crypto betting site, you can end up in very frustrating situations and even lose your money in some extreme cases.
This is why, if you’re looking to choose a crypto betting site, you should keep the following things in mind:
#1. Restricted Countries
While cryptocurrency is amazing in many ways, it is not universally accepted and in some countries, it is banned.
The same can be said of crypto betting sites as they can only operate in countries that recognize crypto betting.
When choosing a site to bet on, take a minute to look through their terms and conditions or information page. You’ll most likely see a list of countries that they operate in. Make sure that the country you are in is listed.
If it is, you can go ahead and sign up on the site. If it isn’t, you might want to try elsewhere.
#2. Reputation and Trust
When it comes to putting your money on a platform, reputation and trust are everything. The last thing you want is to lose your hard-earned money by betting on a shady site. So, when you’re choosing a crypto betting site, the first thing you should look out for is their licensing.
All betting sites, crypto or not, have to be registered businesses in the countries that they operate in and are often members of associations. When you log onto a crypto betting site, scroll down to the very bottom of the page. More often than not, you’ll see their licenses and certificates listed.
This should assure you that the site in question is reputable.
You can also go a step further by researching the site you’re considering on review platforms, forums, and social media. This way, you can learn about other users’ first-hand experiences with the site.
#3. Provably fair
Probably one of the biggest pros of technology is that it can be used to ensure a better customer experience. For crypto betting sites, this can be done with Provably Fair technology.
Probably Fair is a blockchain-based technology that independently verifies that a betting platform has been fair with its gameplay—meaning, no rigging or tampering of any kind. That’s why, when picking crypto betting sites – be them crypto dice sites, crypto roulette sites, or anything in between – you should give priority to sites that use provably fair technology as much as possible.
Specifically, this means that you are much less likely to have negative experiences when using them.
#4. Payout and Withdraw Speeds & Terms
Besides actually playing the games, perhaps the most important function of a crypto betting site is its payout mechanism. This is why you should read any site’s FAQ and confirm what their withdrawal terms are before you sign up.
The payout mechanism is the way that your winnings are given to you (i.e are they directly deposited into your wallet or do you have to manually do that? Or, do you need to make a certain amount of winnings to withdraw, or are you able to withdraw even small amounts?) Meanwhile, withdrawal speed means how fast the payout happens (i.e 24 hours or a week)?
In the best-case scenario, you can get your winnings instantly after you request a payout. In the worst-case scenario, you will have to wait days or even weeks before you get your winnings.
Before you sign up, confirm all of these details and choose the exchange that gives you the best withdrawal terms that meets your needs.
#5. Games available
One of the benefits of online betting sites is that they are virtually unlimited when it comes to the number of games they can offer. At the same time, every crypto betting site does not have every game available and some focus on specific types of games (e.g crypto poker only, crypto slots only, crypto blackjack only, etc.).
You might be happy with only one type of game or you might want to be able to play different types on a single site.
When looking for your best crypto betting site, look through their list of available games and make sure the type that you want to play is available.
#6. VIP programs and Bonuses
When you’re using crypto betting sites, you want to get the best value for your money.
One of the best ways to do this is to sign up for their VIP programs or take advantage of their bonuses. The VIP programs allow premium users to enjoy bonuses, discounts, and other benefits.
Many of the best crypto betting sites also give bonuses to first-time users (e.g 100% bonus on first deposit) or on some days of the week. Additionally, some exchanges have higher bonuses than others and you’d be better off signing up for a 300% bonus than a 50% bonus.
Before you sign up for any crypto betting site, compare the bonuses and VIP packages on the market and choose the best one for you.
#7. Accepted Cryptos
There are thousands of cryptocurrencies out there and not all of them are accepted on crypto betting sites. Some accept dozens of cryptocurrencies to bet with, while others only accept a handful. Before you try to sign up on any crypto betting site, you have to make sure they accept the crypto that you want to use.
If not, you could end up in a situation where you have gone through the trouble of signing up and then can’t deposit your preferred cryptocurrency. The good news is that the best crypto betting sites very clearly list their accepted cryptos, so you’ll have no trouble making your choice.
Crypto Betting vs.Traditional Casinos Pros & Cons
Crypto betting might be popular these days, but how does it compare to the more ‘traditional’ betting that uses fiat currency? Take a look at the pros and cons of crypto betting, as opposed to the traditional one:
- More privacy. Cryptocurrency wallets require much less in terms of KYC procedures. This means you can store your crypto without providing proof of address, passports, and so on. Compared to a traditional bank account, you can enjoy more privacy.
- Increase in value. Cryptocurrencies’ value changes all the time and if your crypto goes up in value, you win even more money.
- Less reliance on banks. Banks can freeze or limit your account at any time (especially if they have harsh policies about online betting). With crypto wallets, no one can freeze your account or stop you from using your funds as you like.
- Geo-restrictions. If crypto betting is not legal in your country, you won’t be able to play or you’ll have to use a VPN (which is not recommended, as it’s illegal).
- Value fluctuation. Yes, your crypto might gain value, but it might also lose it, as its market value tends to fluctuate. If the latter happens, your crypto will be worth less than when you initially wagered it.
How to Get Started with Crypto Betting
If you’ve decided to go ahead with crypto betting sites – especially if you’re a first-timer – you probably want to know how to go about it. Thankfully, we’ve compiled a list of steps that will have you well on your way:
Is Crypto Betting Safe?
As crypto betting becomes more popular, people often wonder if crypto betting is safe to try out.
A lot of people already have concerns about the safety of online betting as a whole and the addition of a relatively new concept like cryptocurrency only heightens this.
The good news is that crypto betting is completely safe. As long as you only use properly registered and licensed sites, and follow all their guidelines, your experience will be fair and safe.
Is Crypto Betting Legal?
While most of us are probably well-versed in the legalities of traditional gambling, crypto gambling sites are a whole other topic. This is because it is a relatively new concept that makes use of cryptocurrency, which is still not universally accepted and, at times, controversial.
Nonetheless, crypto gambling is legal in most countries of the world. This means that wherever in the world you live, you’re very likely to have access to crypto betting sites. If your country legally recognizes crypto, you’re good to go. But if your country does not, you probably won’t be able to.
Crypto Betting FAQ
#1. What’s the Best Crypto Betting Website?
The best crypto betting site for you depends on your needs and how well a site can meet them. The list of the best crypto betting sites we have compiled in this article also features some of the best options available in the market, based on bonuses, withdrawal time and terms, and so on.
#2. Can I Gamble Crypto on Mobile?
If you sign up for a crypto betting site that has a mobile app or site, you should be able to do all your betting from a mobile device. Read through our list to find out which crypto betting sites have mobile apps and which don’t.
#3. How Do I Deposit Money in a Crypto Casino?
Depending on the crypto casino you use, there are different ways to do this. Some of the most common ways are connecting your crypto wallet to the casino or by transferring tokens directly to your casino wallet.
For good measure, check your chosen site’s depositing instructions. Alternatively, check out the steps mentioned in this article and you’ll be good to go.
#4. Can I Play My Favorite Casino Games With Crypto?
Yes, you can.
All you need to do is sign up on one of the many crypto betting sites online and you can play virtually every casino game with crypto.