Bitcoin gambling in 2019
Bitcoin gambling has become prevalent in 2019 with many online sites now accepting this cryptocurrency as a deposit method.
Bitcoin has blossomed as a gambling currency with many online casinos, online betting sites, dice sites and even lottery sites accepting this form of deposit.
Not every regulated gambling jurisdiction (such as the United Kingdom and Malta) allows their licensed operators to accept bitcoin as a deposit method, because of laws implemented surrounding the legality of cryptocurrencies.
This article will run you through the availability of bitcoin deposits for each form of online gambling and give you an overview of how the blockchain works.
What is bitcoin?
Bitcoin is anonymous banking. It is becoming a more and more popular way to transact funds from person to person, or customer to business.
We can use it to gamble at online casinos, we can bet at sportsbooks around the world, from pretty much anywhere.
Bitcoin is becoming the currency of choice for many bettors who face serious restrictions on how they can deposit money at online casinos or sportsbooks.
If gambling is banned in your country, or you face banking restrictions on how you can deposit money, Bitcoin is a viable alternative. Check out our guide to buying Bitcoins for an in-depth look at how to get your Bitcoin wallet funded and ready to use.
Bitcoin and gambling
The internet is full of online casinos and sportsbooks that accept Bitcoin as a deposit option. It’s just a matter of choosing ones with reputations that are strong. At WGL we only recommend bitcoin gambling sites and betting sites that we personally gamble at, or have tested fully.
Many countries do not allow casinos and sportsbooks that are based ‘offshore’ to process payments through local banks, which severely limits the ability of bettors to deposit money at their chosen website.
While there are numerous web wallets and other deposit methods available to people depositing at online casinos, many can take a few days to be processed. The beauty of Bitcoin is that there is rarely a deposit limit and it is instant, including being able to withdraw your balance of bitcoins immediately.
As with standard online betting sites and online casinos, Bitcoin-related products are generally available on computer and smartphone.
Best bitcoin online casinos
There are more and more online casinos entering the market, or at the very least accepting bitcoin as a deposit method, every day. This means there are casinos out there which are not 100 per cent honest. We only recommend casinos which have the highest standards of security, customer service and have strong reputations.
When bitcoin first was first launched the online casinos that accepted it were largely bitcoin only and didn’t accept fiat currency. However in 2019 this has changed significantly with many of the best online casinos now taking bitcoin deposits on top of plenty of fiat options.
Generally if you want to bet with a bitcoin casino it will be based in places such as Costa Rica, Panama and Curacao, where the regulators have yet to make a determination, or simply don’t care that punters are avoiding taxes by using bitcoin.
Best bitcoin betting sites
The emergence of crypto has opened up new avenues for online sports betting. This means there are more and more betting sites accepting bitcoin opening their virtual doors all the time.
Some of the benefits of betting on sport and racing with bitcoin include better odds, instant deposits and withdrawals, live betting or ‘in-play betting’ (which is banned online in some countries) and, of course, the fact that bitcoin can be hard to trace.
Because there are generally no restrictions placed on bitcoin betting sites they offer betting on sports that you may not find at a fiat sportsbook. These include betting on some esports unavailable elsewhere, plus various minor leagues (soccer, basketball etc) you may find are not available at your regular betting site.
When something happens in the bitcoin world we will cover it. We have the resources and understanding to bring you the latest news from around the globe. It’s an ever-changing game with bitcoin. There have been scandals and other security breaches (which have been ironed out) and cases of people losing or forgetting their unique bitcoin code.
It can be hard to understand the laws surrounding Bitcoin in your respective country, but we have worked hard to present the information most relevant to your jurisdiction. From our Bitcoin Laws Hub Page you can access the latest from your respective government, whether it be Australia, South Africa, New Zealand, the United States of America or Canada – if your country is English-speaking we will be there to cover it.
Bitcoin Terminology & Frequently Asked Questions
Cryptocurrency is confusing at the best of times. We originally thought bitcoin mining was a group of men with shovels digging for gold. But it turns out there is an entire dictionary of terms that are foreign to the average Joe. Check out our bitcoin glossary to find plenty of useful information.
We know there are plenty of questions that bitcoin poses, so we have a dedicated page where you can submit questions and we’ll answer them. There are plenty of questions already answered on this page but feel free to hit us up about any query you might have.