Sports have always been the cornerstone of my life. I grew up playing every sport I could find on an amateur level and dedicating a similar amount of time to following the professional leagues; a habit that continues to this day. From the moment I graduated from college, I pursued a career covering sports news and discussion topics across a range of different publications, both on and offline. Over time I was able to build my experience and skillset, learning more about the sports betting world, and decided to explore new opportunities in the betting field — a journey eventually led me here to PlayersBest.com.
Just like Major Tom we’re taking our protein pills and putting our helmets on, ready to take a spacewalk through the world of crypto betting sites. Cryptocurrencies may be the latest online gambling payment methods, but they’re already such a hit with bookmakers, casinos and players, that they’re rapidly becoming a mainstream option.
We’re on hand to guide you through the galaxy of choices available to you at crypto betting sites throughout the US. So let’s fire up the rocket blasters and get ready to explore the world of cryptocurrency as it relates to online betting.
The UIGEA (Unlawful Internet Gambling Act) of 2006 places severe restrictions of the ability of US citizens to wager online. This makes it difficult to direct funds to your player account, and without funds, you can’t enjoy any betting! So what are you supposed to do now?
Thanks to the UIGEA, it’s next to impossible to deposit funds in many online casinos, because financial institutions will block transactions that don’t comply with the Act. And that’s a real pain if you’re someone who enjoys a bit of a flutter, either at sportsbook sites or at online casinos.
The answer is to use cryptocurrency – and more and more casinos and sportsbooks are coming on board with the idea. Digital currency payments are fast, cheap and best of all, they’re completely anonymous, so nobody can tell you what you can and can’t do with your own funds!
What crypto can you use for betting sites?
Think of crypto, and most people’s thoughts will instantly turn to Bitcoin, the oldest and best known digital currency. Created in 2009 by a mysterious character known only as Satoshi Nakamoto, Bitcoin has quickly become a digital currency of great interest, since it operates outside all the usual fiat currency regulations.
There’s no centralised banking system, with all Bitcoin transactions stored on the blockchain ledger, making it the ideal peer-to-peer trading platform. And better still, there’s absolutely no involvement from banks or other financial institutions, so nobody can tell you where you can and can’t spend your cash!
Bitcoin is still the best-known and most popular cryptocurrency, so it’s the one that most crypto casinos and sportsbook sites accept. But you can also find options allowing the use of Ethereum, Litecoin, Bitcoin Cash, Ripple and even Dogecoin. And with new cryptocurrencies being launched on a regular basis, there’s seemingly no end to the possibilities. But for now, Bitcoin tends to be the most widely accepted crypto, making it the ideal starting point for galactic explorers intent on finding the best US betting sites.
What makes crypto the perfect betting option?
Take a look at your betting options on our site and you’ll see that there are loads of online betting payment methods to choose from. But more and more people are turning their attention to betting with crypto, because it offers so many advantages over more traditional currency options. Just take a look at what makes digital currency such a great option for online gambling.
Financial institutions, as we’ve already seen, are completely at the mercy of UIGEA regulations, so they’re obliged to do everything they can to try and block US citizens from online gambling sites. But this prevents you from spending your money where and how you choose. Cryptocurrency puts the player firmly in control of their own funds, so you can make your own decisions about how to spend your money.
Play wherever you like
The US has strict laws governing the betting sites that US players are allowed to access. And thanks to the legal situation, banks and other financial institutions will do everything they can to prevent you from using credit and debit card deposits and withdrawals at online betting establishments. It’s even been the case that some players have deposited funds, and increased their value with some judicious betting strategies, only to find they’re not permitted to withdraw their winnings!
This just isn’t the case with crypto. There are no details attached to your transactions to notify any authorities about what you’re doing – although it’s recommended to also use a VPN for full protection. But your crypto assets can’t be tracked and traced, so you can use your money as you see fit.
You’ll often have a choice of cryptocurrencies for making deposits and withdrawals, and depending on your choices you could save yourself a small fortune in fees and transaction charges. That’s because using traditional currencies incurs a variety of costs, with charges climbing higher the more money you want to withdraw. Crypto charges are much, much lower and because they’re constant, you won’t have to spend time working out how much you’ll have left to spend.
If you’ve ever had to wait around for bank transfer bookies to acknowledge receipt of your deposit, you’ll understand the pain of having to wait around before you can access your money. The same is true of American Express betting sites as well – in fact just about every financial transaction requires you to spend time waiting around for it to complete. But that’s not the case with crypto transfers. It depends on your choice of crypto of course, as well as the number of transactions currently processing on the blockchain, but most transactions are completed within just a few minutes – so you can get straight down to gambling – or spending your winnings!
Better bonus offers and rewards
Transaction fees on traditional fiat currencies don’t just go one way, and casinos and sportsbook operators also get hit by charges. Needless to say, they attempt to claw some of this money back from the players, which cuts into funds earmarked for bonuses and promotions. But cryptocurrency casinos don’t have to worry about fees, since they’re usually so low anyway, enabling them to put more money into promotional offers and bonuses. So if you choose to deposit and play at a crypto betting site, you’re highly likely to experience superior reward programs and special offers.
Points to consider when choosing your crypto betting platform
We’ve looked at the ways in which crypto offers fast, anonymous and cheap transactions, but it’s essential to remember that digital currencies have one or two pitfalls. These needn’t be of any great concern though, as we’re here to guide you safely through the meteor showers of scam websites that are waiting to trip up the unwary gambling fan. Every single crypto betting website featured here has been thoroughly checked, reviewed and rated, so there won’t be any unpleasant surprises.
But head out into deep space on your own, and you could come unstuck. The fact that cryptocurrencies are unlicensed and unregulated means that so are most crypto casinos and sportsbooks too. Make a mistake with your crypto gambling partner and you could find yourself swiftly parted from your gambling funds, with no way of getting any of your money back.
You should also keep in mind the high volatility of crypto, which means prices can rise and fall – sometimes quite dramatically – within the space of hours, or even minutes. That makes it well worth spending some time researching digital currencies, so you have a really good idea of what might lie ahead.
How to start betting with crypto
It’s relatively easy to get started once you’ve made the decision to bet using cryptocurrencies. First of all, you’ll need to sign up for a trading exchange, where you purchase your Bitcoin or another crypto of choice. We strongly recommend transferring your crypto-assets across to a software wallet, stored on your computer or smartphone, so you keep ultimate control over them.
We’ll help you identify the best betting sites with Bitcoin, Ethereum, Litecoin or another crypto of your choice. So all you need to do is sign up, provide a few details to create your player account, and transfer crypto across to fund your betting activities. It really couldn’t be any easier, although like most things in life, the first time is always the hardest! But once you’ve made your first transaction you’ll soon realise how smooth and seamless the entire process is.
Your funds will be ready and waiting for you within just a few moments, depending on how much activity there is on the blockchain at the time of your transaction. So you can get straight down to wagering with the minimum of delays – and hopefully winning some big cash prizes too!
Conclusion – betting with crypto is out of this world!
Now you’re up to speed with how and why to use crypto across US betting sites, you’re ready to dive right in and start playing. Whatever your preferred deposit and withdrawal method we’re committed to helping you have the best and most positive online experience. So if you’re done with bank transfers, you’re fed up with PayPal and you’re bored of the usual ecoPayz betting sites, why not give crypto a whirl? It could turn out to be one of the most stellar decisions you’ve ever made!