Bitcoin Bonuses for Betting on Sports
You’ve probably heard of Bitcoin, or ‘the internet of money.’ Millions use this popular form of currency for paying for various goods and services, but did you know you can use this secure method of payment on many sports betting sites? And that that sports betting sites offer massive, highly enticing bonuses and promotions for using this new currency to place bets?
From initial Bitcoin deposit bonuses to continued rewards like reload bonuses, betting sites are using BTC bonuses as a method to increase the adoption of Bitcoin as a payment method. We’ve compiled the three best Bitcoin bonuses, and rest assured this trend in bonuses – currently increasing in popularity among gambling sites – is a sure bet to continue.
Bitcoin is here to stay, and there are numerous benefits to using this currency. Simply put, using Bitcoin is equally advantageous for you and your sportsbook – and sportsbooks want to broadcast this message over the hills and far away. Betting sites put their money where their mouth is; Bitcoin bonuses are HUGE in comparison to regular bonuses, often over 2x so!
Advantages of Using Bitcoin Bonuses for Sports Betting
- Bitcoin bonuses are often the biggest out of any bonuses available! Some sports betting sites match 100% of your deposit, up to $1,000+. Usually, deposit bonuses for regular currencies max out somewhere between $25-$500. Bitcoin bonuses typically go all the way up to $1000, on average significantly more than conventional currency bonuses.
Lower Deposit and Withdrawal Fees:
- Withdrawal, transfer, and deposit fees are minuscule with Bitcoin; they are a fraction of the cost compared to conventional fiat currencies. In all likelihood, your Bitcoin wallet will handle these fees automatically with each transaction, and you will not have to concern yourself with them at all!
- Bitcoin doesn’t pass through an intermediary bank (or multiple banks), resulting in the absence of transfer charges. There are small fees to have your transactions confirmed on the blockchain, and most Bitcoin clients and applications have these minute costs built directly into their structure. These low charges mean that betting sites can allocate the funds usually tied up in bank transfer fees to the customer in the form of bigger bonuses and better promotions to players who use this currency for betting.
Bitcoin Reload Bonuses:
- Many sportsbooks also offer Bitcoin-specific reload bonuses. Often these reload bonuses will be a significantly higher percentage than bonuses in a conventional currency, and are offered at regular intervals instead of seasonally. We found through our extensive research that on average, reload bonuses are much more enticing and favorable for those bettors using Bitcoin.
- As mentioned previously, both withdrawal and deposit times using Bitcoin bonuses are much quicker. In the trails we conducted ourselves, Bitcoin bonus deposits took an average of 4 minutes (but can take between 30-60 minutes) and withdrawals took between 30 minutes and an hour.
A Step by Step Guide To Claiming a BTC Bonus
Pocketing your Bitcoin bonus is incredibly easy! Most sports betting sites will have a route that is an easy to follow, from signing up to depositing, which allows you to redeem a Bitcoin-specific bonus instantly. While the process will vary from site to site, the following step by step guide is a reliable resource to guide you through the basic process of getting a Bitcoin bonus into your account. We compiled this step by step guide based on an amalgamation of their own experiences with Bitcoin bonuses at a variety of sportsbooks.
Sign Up Or Login at your Sports Betting Site
- Sign up and Log into your sports betting site.
- Make sure you’ve cleared all free plays you may have left over from bonuses in conventional currencies, as this is integral to ensuring you successfully redeem your Bitcoin bonus.
Enter The Cashier
- Enter the cashier page of your sports betting site, which will be visible on the homepage after you enter your credentials.
- Click on the “deposit” button once you’ve successfully accessed this portion of the site.
- Choose Bitcoin as your ‘Form of Payment.’
- To redeem a Bitcoin bonus, you must make a payment exclusively in bitcoin!
- Enter the amount of Bitcoin you want to deposit in its equivalent currency value (usually USD, but this may vary depending on your geographic region.)
Enter Your Bonus Code
- Before you confirm your deposit amount, enter the bonus code! Entering the code ensures that you will successfully redeem your bonus. Some sites will automatically input the bonus code for you; others will require that you input it manually. Make sure you refer to the specific terms and condition of your sports betting site’s Bitcoin bonus information page.
Enter Your Deposit Amount
- We’ve tested out lots of different Bitcoin bonuses and Bitcoin deposit methods ourselves. Through our research, we’ve discovered that sports betting sites will present you with one of two options to accept a transfer of Bitcoin; either by generating a Bitcoin address for you to send Bitcoin to or by generating a scannable QR Code if you happen to be using a mobile Bitcoin wallet.
Deposit via Bitcoin Address
- In this case, Sportsbooks request you transfer your Bitcoin to the Bitcoin address they generate. You can move funds from whatever type of Bitcoin wallet you are using to the sportsbook; this includes mobile wallets, desktop wallets, online wallets, or paper wallets.
- Make sure to copy and paste the Bitcoin address they provide you into your wallet carefully; if you send your Bitcoin to the wrong address, there is no way to get it back.
Deposit via QR Code
- Scan the QR Code your sportsbook generates with your mobile Bitcoin wallet; this will transfer your desired amount of Bitcoin over to your sportsbook.
- There is no copying or pasting of addresses necessary for scanning a QR code, as your Bitcoin wallet takes care of this step for you!
Final Steps and Confirmation
- If any windows pop up, make sure not to close them, as this could complicate the confirmation of your transaction!
- Both of these methods, QR code or copying and pasting an address, will show you the equivalent amount of Bitcoin converted into your currency of choice (usually, USD) as well as the actual amount of Bitcoin itself.
- After successfully entering (or scanning) this information, hit submit!
Receiving Your Confirmation
- Based on our experiments, the average time it takes to confirm a Bitcoin deposit (and Bitcoin bonus) is around 4 minutes, but it may take between 30 and 60 minutes, depending on the volume of transactions on the Bitcoin network occurring at the same time as your deposit.
- Sports Betting Sites will send you a confirmation of a successful receipt of your funds and the ensuing Bitcoin bonus that accompanies your deposit. This confirmation can be found via your online account balance at your sportsbook, as well as via an email confirmation.
- If you are worried that your transaction is taking a while to confirm, you can always visit https://blockexplorer.com/ and see what is happening with your transaction! All you need is to input the Bitcoin address associated with the transaction that sent your Bitcoin to your sports betting site of choice.
In general, sportsbooks place restrictions on your Bitcoin bonus in the form of limiting the bonus to sports betting itself; casino, poker, and horse racing have unique bonuses with different sets of specific stipulations.
Bitcoin bonuses are subject to many of the same bonus rules, such as the rollover. Check out our helpful guide if you need a refresher on the way different betting bonuses structures work.
The bonus structure many sportsbooks offer is a way for customers to get acquainted with the mutually beneficial relationship between sportsbook and bettors when it comes to Bitcoin. Many, many sportsbooks will reward your first foray into the exciting world of Bitcoin, and this reward likely comes in the form of a juicy Bitcoin deposit bonus.