Sportsbook Bitcoin Bonuses, Are They Worth It?
*Updated August 3rd, 2018
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 bitcoin betting bonuses just for using the digital currency?
Spanning from sign-up bitcoin deposit bonuses to Bitcoin-specific rewards like reload bonuses, online sportsbooks are using bitcoin 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 sportsbooks – is a sure bet to continue.
Advantages of Using Bitcoin Bonuses for Sports Betting
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.
Online sportsbooks put their money where their mouth is, offering a range of highly attractive Bitcoin betting promotions.
Bitcoin Bonuses Are Bigger Than Conventional Bonuses
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.
Bitcoin Bonuses Have Lower Minimum Deposits and Smaller Withdrawal Fees Than Conventional Methods
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.
The low fees associated with Bitcoin means that betting sites can allocate the funds usually tied up in bank transfer fees to the customer. What does this mean? Just that sportsbooks can dole out bigger Bitcoin bonuses and better Bitcoin promotions to players who use the digital currency!
If you’re curious to learn more about Bitcoin and its associated benefits for online sports betting, check out our detailed guide on depositing at your online sportsbook with Bitcoin.
There Are Many Bitcoin Specific 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 provided at regular intervals instead of seasonally.
On average, reload bonuses are much more enticing and favorable for those bettors using Bitcoin. This is due to the aforementioned lower fees associated with Bitcoin.
Bitcoin Transactions Are Quicker and More Efficient
As mentioned previously, both withdrawal and deposit times using Bitcoin bonuses are much quicker. In our trials, 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.
For more details on which sportsbooks offer the quickest Bitcoin withdrawals, check out our guide on the fastest withdrawal methods available at online sportsbooks.
Get Started Betting With Bitcoin Today!
Before you get started, we’d be remiss if we didn’t point out that Bitcoin bonuses are subject to many of the same bonus rules, terms, and conditions as conventional sports betting bonuses. Check out our helpful guide if you need a refresher on how different sports betting bonuses work.
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 bonus. Want to learn more about the world of bonuses? Check out our guide to our favorite bonuses for betting!
Anything else you want to know about sports betting bonuses that we haven’t covered? Email Us and we’ll make sure to cover it in an upcoming article.