Claiming Your Bitcoin Sports Betting Bonus (Step by Step Guide)
*Updated August 3rd, 2018
Pocketing your Bitcoin bonus can be a bit of head-scratcher. If you’re confused at all about the process, you’re in the right palace. With the right knowledge, redeeming your Bitcoin bonus is easy.
Most sportsbooks have an easy to follow route for you to follow from signing up to depositing, allowing you to redeem a Bitcoin-specific bonus instantly.
In this article, we provide you with a step by step guide to redeeming your Bitcoin bonus, so you can be up and betting in no time!
1. 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 necessary to ensure you successfully redeem your Bitcoin bonus. Sportsbooks will not let you have more than one active bonus.
2. 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.)
3. 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 online sportsbooks’ Bitcoin bonus information page.
4. 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.
- The option for a QR code will likely be presented to you if you happen to be using a mobile Bitcoin wallet.
5. 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.
6. 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!
7. Final Steps and Confirmation
- If any windows pop up, make sure not to close them. 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!
8. 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.
- Your sportsbook 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 Block Explorer 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.
Have Any Lingering Questions?
If you’re unclear about any part of the process, you can always check out our frequently asked questions guide to all things related to Bitcoin.
If you’re feeling confident and ready to bet, read up on our guide designed to assist you in picking the best sportsbook bonus, Bitcoin and otherwise, and start growing your bankroll today!
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.