Best Bitcoin Betting Sites By Odds.ph

best-bitcoin-betting-sites-by-odds-ph

Did you know that there are betting sites that accept Bitcoin? Cryptocurrencies are here to stay and can now be used for various types of transactions, including Bitcoin betting.

To help you understand how it all works and get a BTC bonus, we’ve prepared this article on sports betting with Bitcoin!

How to place sports bets with Bitcoin

The procedure for creating predictions using cryptocurrencies is basically the same as when we use R$.

BTC will be the payment method for adding funds to the bookmaker’s Bitcoin account. In some, the balance is managed in BRL, while in others, all the money is won without conversions, in ₿.

✔️ You can make pre-match or live bets on sports such as soccer, e-sports and volleyball, or try your luck at online slots and other casino games.

Create a wallet

You need to buy the currency, or use other ways of obtaining ₿. We’ll talk in detail about how Bitcoin works later, for those who are new to this world.

If you don’t already have investments in BTC, you should sign up for a service that stores your funds. This is a wallet, which works like a virtual current account, similar to a Paypal payment.

This way, you can transfer money to the gaming operator, as well as use the wallet to withdraw winnings from guesses.

Deposit on the betting site with Bitcoin

After purchasing the currency with the help of a broker, the user receives an access key, i.e. a combination of numbers and letters.

The ID is an identifier for receiving BTC and will only be used for withdrawing money. As the intention here is to send money to the bookmaker, you will need to know the operator’s wallet ID.

  1. Taking the 1xBit website as an example, first register on the platform
  2. After confirming your registration, go to the payments area and select Bitcoin
  3. After that, a new screen will open, displaying the 1xBit wallet ID.
  4. Copy the data
  5. Through the interface of your own wallet, transfer the desired amount using the ID of the Bitcoin betting site
  6. Receive your first deposit bonus (conditions apply)

Keep in mind that when BTC is used as a means of deposit, it must be used as an option for withdrawing winnings.

Choose a betting market

Once the funds have been added to the virtual account of the bookmaker that accepts Bitcoin, you should access the sports area. Best payments method for casinos game. There, you’ll see various sports. The most popular is usually soccer.

Next, select a championship to see which matches are open for betting. For each event, there are a multitude of predictions that can be made. We talk about them in our guide for beginners.

The most common market is Moneyline, also known as 1X2. It allows you to bet on the winner of the match, the draw or the underdog. The more remote the chances of success, the higher the odds.

1xbit betting ticket on the moneyline market with bitcoin In the image above, the Bundesliga match allowed you to choose team 1, FK Austria Wien or team 2 FC Admira Wacker Mödling. Understand what each highlighted field represents:

  1. 1×2 is the moneyline market and V1 the selected outcome (team 1 winner).
  2. Shows the odds of 1.73. The amount wagered is multiplied by the odd to arrive at the prize amount
  3. Amount invested, in mBT
  4. Total to be received in the event of a hit

How the cryptocurrency works

Still not sure what Bitcoin is? Don’t worry, we’ll explain it briefly. The digital currency is very secure and does not depend on a government system to operate. In fact, this is its main characteristic: it is decentralized and not controlled by any entity.

BTC can be sent over the internet via a virtual wallet. Anyone interested in acquiring the currency must exchange reals, dollars or euros through a broker.

Or they can mine Bitcoins, a process carried out using a powerful computer. The device is used to record transactions and “create” units of the currency. As a reward, the owner of the computer receives a digital reward.

We won’t go into details about the procedure, as the focus here is only on the use of the payment method on Bitcoin betting sites.

However, you can find more information directly on the official BTC website. In summary, you should know that ₿ has the following characteristics:

  • It works 100% virtually, using a (randomly generated) address to receive or send payments.
  • The system is protected by encryption
  • Transactions are private on the block chain, using a private key
  • Operates every day, at any time or place, as it is an online service

Advantages of placing bets with Bitcoin

There are many benefits to choosing a modern payment method to have fun online.

If you’re still wondering what the benefits of Bitcoin-accepting betting sites are, check out the most important ones below.

  • Privacy: with BTC, there’s no need to provide sender details, everything is done securely and privately. Best of all, it’s legal.
  • Cost: as the cryptocurrency does not belong to any country, it is not subject to taxes. Of course, when converting the digital currency into reais, the player will need to declare the amount. But if they use the balance on products and services, they are exempt.
  • Limits: those who spend a lot at casinos and gaming sites often encounter transaction limits when using traditional methods. With Bitcoin, the limits are usually higher.
  • Exclusive promotions: to encourage the use of the alternative method, some companies offer special offers, such as Bitcoin deposit bonuses.
  • Security: the network guarantees the protection of operations, since transactions are made end-to-end, without intermediaries. Block chain technology prevents intrusions and fraud in the system. Everything is done in a very transparent way, in open source software, supported by the computers that mine BTC.

Disadvantages

We wouldn’t be fair if we didn’t mention the cons of digital currency. Just like any other means of payment, it has points that deserve attention.

  • Only people who already have a wallet can make withdrawals and deposits
  • Not all bookmakers accept Bitcoin (so check out our list!)
  • Payment does not clear instantly
  • The value fluctuates more than the dollar or euro
  • Although the sites don’t charge fees for using the currency, there is a cost for keeping the wallet at brokers and exchange companies

Conclusion

Bitcoin is currently booming, so it’s only natural that more and more platforms and companies are accepting the digital currency for the purchase of services and goods.

The payment method is very secure and advisable for those who want to spend more than the average player on gaming sites.

Of course, you need to know how the Bitcoin market works. It’s a little different from buying other currencies, such as dollars.

Finally, we would like to point out that Brazilians can have BTC accounts and bet online with the digital currency. So, if you already have funds in a virtual wallet, we certainly advise you to use your balance for online gambling. Choose one of the Bitcoin betting sites we recommend!