Crypto Esports Betting Guide
With the rise in popularity of cryptocurrency, esports gamblers are starting to incorporate cryptocurrencies. If you have never heard about crypto esports betting, you would be surprised to hear that it is very popular.
Tons of online bookmakers, if not almost all of them, have started to incorporate cryptocurrency betting features. Most bookies provide bonuses and promotional offers on crypto esports betting as well.
What Is Crypto/Cryptocurrency
Cryptocurrency or crypto is another word for digital currency. You can think of it like the account balance you see on your banking apps or when you log in to your bank's website.
However, the difference between the number you see in your bank accounts and cryptocurrencies is that the balance in your account actually relies on a central authority, which is the government, in almost all cases.
Cryptocurrencies do not rely on any kind of central authority. Instead, cryptocurrencies are maintained using a digital ledger that records and stores all transactions.
What Is Crypto Esports Betting
Crypto betting esports is exactly what the name suggests. Crypto esports betting is when you use a cryptocurrency to make deposits on an online esports bookmaker and then use those deposits to make bets on esports matches.
The process of crypto esports betting is also quite similar to betting using any other deposit method. The difference is that you will use your crypto wallets to make deposits.
Is It Worth Betting With Cryptocurrencies?
There are tons of benefits to using cryptocurrencies for making deposits at esports gambling websites. You get to stay anonymous, and the transactions are fast.
However, you will need to get a crypto wallet if you want to use crypto deposit methods. After that, you will need to get some cryptocurrencies from crypto exchanges.
While this may be too much of a hassle for some people, it is definitely worth it for people that prefer all the benefits that cryptocurrencies offer.
Best Cryptocurrencies For Esports Betting
People are getting into cryptocurrencies for a wide variety of reasons. Some people buy Bitcoin as an investment, and others get DogeCoin because of its meme relevance. Some people prefer Solana because of its fast transaction speeds and how cheap it is to transfer.
So, if you are looking for the best crypto for esports betting, then you are in luck because a lot of them are great for that particular task. Here are some of the top crypto payment options for esports betting and why they are soo great. You can choose one based on your preferences.
- Solana (SOL): Solana is probably one of the best cryptos for esports betting. Solana has proven to be able to handle over two thousand transactions per second.
- Ethereum (ETH): While Ethereum is a bit slower than Solana, with around 12 to 25 transactions per second, it is more widely adopted.
- Bitcoin (BTC): Bitcoin is the most popular cryptocurrency. If it is the only crypto you own, it is a great option for esports betting.
- Tether (USDT): If you are new to cryptocurrency, probably the simplest crypto to use is Tether or USDT. USDT is pegged to the U.S. dollar, which means 1 USDT will always be equal to $1.
Best Esports Betting Sites For Crypto
There are tons of betting sites that have started to incorporate crypto payment options. Not only that but there are tons of betting sites that have only crypto deposit options.
However, not all of them are great. Some may even scam you. The internet is filled with reports of people losing all their money at a betting site that was either not legitimate or had some serious security issues.
For this reason, the first thing that you should do while picking out the best betting sites for crypto is whether the site is legitimate or has any security issues. You can do that by checking out some reviews.
After making sure that a betting site is completely safe to use, you can move on to other stuff. Some important features to look at in a betting site for crypto include available esports, betting odds, other activities available, bonuses and promotions, and deposit fees.
Here are some of the top esports betting sites for crypto:
While these are some of the best betting sites for crypto, deciding on one site is something that you have to do yourself. Try out some of them to see which one you like best.
How To Bet With Bitcoin
If you are thinking of starting to use crypto for esports betting, you are probably going to use Bitcoin because it is the most popular cryptocurrency.
To bet with Bitcoin, you will first have to decide on a betting site that allows Bitcoin as a deposit method, which is also legitimate and safe. You can take a look at several other features like esports covered as well.
Once you have found a site, register to the platform and make some deposits using your Bitcoin wallet. Lastly, use the deposits to place some bets on the outcome of an esports event.
Esports Betting With Bitcoin Step-By-Step
To help you understand better, here is a step-by-step guide on how to bet on esports using Bitcoin.
- Step 1: Find a legitimate and safe esports betting site that offers Bitcoin as a deposit method. Also, make sure you like the website based on the features it offers.
- Step 2: Register to the platform.
- Step 3: Make sure that your Bitcoin wallet is topped off with at least the amount that you want to use for betting.
- Step 4: Use your Bitcoin wallet to transfer some Bitcoin to the betting site. Make sure to send a test amount so that you know that you have entered the right wallet address.
- Step 5: Pick out an esports game and an event that you want to place bets on.
- Step 6: Find a bet that you like based on the odds.
- Step 7: Place a bet using the deposits you have made with Bitcoin.
- Step 8: Wait for the bet to conclude, and that's it.
Tips and Tricks on Esports Betting With Bitcoin
Here are some tips and tricks on esports betting with Bitcoin that you can use for safe and effective betting.
- Before you enter the complete amount while making a deposit, test it out with a much smaller amount to make sure you entered the right address.
- Check out reviews for the betting site that you are about to use to see if the site is legitimate or not. If you don't do this, you might end up losing all your Bitcoin.
- Make sure you do not enter any information regarding your own bitcoin wallet. Betting sites don't need that information for deposits.
- Bitcoin may not have the same price every day or even every hour. Check the price of Bitcoin to see if you are getting the right amount of betting site credits.
Esports Betting Using Cryptocurrencies vs Other Banking Methods
While esports betting with cryptocurrencies is similar to betting with other banking methods like Bank Transfer, Skrill, and Neteller, there are several differences between them as well. The complete process of betting using cryptocurrencies and other banking methods is completely the same after the deposits have been made.
After making deposits, you will have to choose a bet for an esports event, and you will have to check out the odds, regardless of whether you are using Bitcoin or any other method for making deposits. The difference between both betting types is in the deposit method.
With regular deposit methods, you will either need a bank account or an e-wallet, which also requires you to open a bank account so you can transfer money to the e-wallet. On the other hand, with crypto, you need a crypto wallet, which is much different than a bank account.
Another difference between crypto betting and betting using other deposit options is anonymity. Crypto deposits allow you to be completely anonymous.
Lastly, we have transaction times and transaction fees. With other banking methods, you can sometimes expect to wait for over a day for a transaction to complete. However, with crypto, the transfer is instant. Crypto also allows for much faster transaction speeds.
About the author
From Rotorua's scenic landscapes, Aria Mitchell shines as New Zealand's leading expert in localizing online casino content. Marrying Kiwi essence with global gaming insights, she's the name trusted nationwide.