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Crypto gambling involves wagering on online games and sports events using digital coins. If you own coins like BTC, ETH, or USDT, you can use them for gambling at crypto casinos and crypto sports betting sites. This differs from traditional online betting, where you use fiat money like the USD, EUR, and GBP.

The idea of crypto gambling became popular as online players and bettors recognized the advantages of transacting with digital coins. Betting sites and casinos began adding Bitcoin and altcoins to their cashier sections, allowing players to deposit and withdraw using cryptocurrencies. Today, there are dedicated crypto-gambling sites that only accept digital coins.

How Do I Start Crypto Gambling?

You can start crypto gambling by following a few simple steps. If you’re already familiar with how the blockchain and digital wallets work, you will find the process very straightforward. Here’s a detailed step-by-step guide to assist you:

1️⃣ Pick your cryptocurrency: There are thousands of digital coins available, but not all are present at gambling sites. Hence, the first step is to review the cryptocurrency options and select the one you’ll use to gamble.

2️⃣Select a wallet provider: Once you identify the coin you want to use, create a wallet. Many cryptocurrency wallet providers and exchanges exist, so research and only register with reputable ones.

3️⃣Buy coins: The third step is to purchase coins and load your created wallet. You need the coins to fund your casino account.

4️⃣Register with a crypto gambling platform: At this point, turn your attention to the available crypto casino websites and pick one to play at. We’ll discuss the factors you need to consider in the next section.

5️⃣Fund your gambling account: To deposit, you simply have to transfer coins from your wallet to that of the crypto gambling site. Ensure you copy the correct address on the casino’s deposit page to avoid sending money to the wrong recipient.

6️⃣Start playing: With funds in your account, you’re ready to gamble. Browse the crypto casino website and locate your favorite games in the collection. Load them, set your bet, and begin gambling.

7️⃣Withdraw winnings: If you win while gambling, you can withdraw your funds. The process is as seamless as depositing, except that you submit your wallet address to the casino. The site will review your payout request and send coins to your wallet if everything checks out.

How to Choose a Reliable Crypto Gambling Platform?

If you take a quick look online, you’ll find thousands of crypto casinos. So, how do you choose a reliable one? We’ve made the task simple by outlining the core factors to consider below:

➡️Licensing and reputation: Confirm if the crypto casino you’re considering is licensed and regulated by a recognized authority. That guarantees the platform is trustworthy and will protect your personal and financial data. Consider the reputation of the operator by assessing feedback from existing gamblers – it gives you first-hand insights into what to expect when you register.

➡️Security measures: The way we see it, you should always verify that a gambling platform has solid security before using it. You can confirm this by checking for features like SSL encryption and two-factor authentication.

➡️Supported coins: You won’t appreciate the crypto gambling experience if you have a limited choice of digital currencies. The best crypto casinos accommodate a wide variety of coins, ensuring you can gamble regardless of your portfolio.

➡️Game collection: Ultimately, games are why players sign up with casinos — whether fiat or crypto. So, don’t skip evaluating the game collection and confirming the supported categories. We believe the more games, the better. That said, it’s important that the titles come from quality providers.

➡️Provably Fair technology: This tech is the backbone behind Bitcoin and crypto casino games. It’s essential that it’s available at the casino you join to guarantee 100% random and unbiased results.

➡️Customer support: You don’t want to be left hanging if you run into issues or have questions while gambling with crypto. Therefore, only register with casinos that provide professional and prompt customer service.

➡️Bonuses and promotions: Without quality bonuses, you won’t get worthwhile rewards for joining and playing at a crypto gambling site. So, scrutinize the promotions page and review the available offers. The best platforms will offer a welcome package, reloads, free spins, cashback, and loyalty rewards with fair terms and conditions.

Different Types of Crypto Games

The online casino industry features different categories of games. If you register with a crypto gambling platform, you’ll find even more innovative titles to play. Our research highlights the below as the top 6 types of crypto games you’ll find at Bitcoin casinos:

bitcoin casinos image slotSlots: These are games where you spin reels and win when you hit matching combinations. Crypto gambling sites feature online slots with different themes and in-game mechanics, ensuring you can always find a title regardless of your preferences.

Table games: This category consists of classic casino options like blackjack, roulette, and baccarat. You’ll want to play them at crypto gambling sites if you wish to apply skill and strategy to your gameplay — not only relying on luck.

Live casino: These games are traditional casino table titles, but the difference is that they don’t use software. Instead, the gaming rounds are conducted in real time by an actual dealer, and you watch everything live via livestream. It’s a category you’ll love if you want a similar experience to visiting land-based casinos.

poker cardsPoker: Most sites will categorize poker under table options, but the classic game of cards always stands out. You can enjoy the game while betting, raising, and calling with BTC and other digital coins. The target remains to build the strongest five-card hand before the showdown.

Dice: Games in this category revolve around predicting the outcome of dice rolls. Usually, multiple dice are involved, and the betting options are diverse depending on the title. For instance, some dice games will require you to bet on the exact outcome or a range it’ll fall in. Meanwhile, others require you to wager whether the roll result will be over or under a set number.

Crash: These are primarily instant win games that employ Provably Fair technology. While playing, the aim is to cash out your bet with the largest multiplier possible before a rising plane, rocket, line, or graph crashes or flies away. Based on our experience, the most popular crash game you’ll find at crypto gambling sites is Aviator.

Can You Legally Gamble with Crypto?

Yes, you can legally gamble with crypto, depending on your location. We researched the state of crypto gambling in some popular jurisdictions and have outlined our findings below:

bitedge restricted countriesUnited States: In the US, individual states are permitted to issue their own online gambling laws. While cryptocurrency is widely allowed, gambling with crypto is prohibited in many regions. You can only safely engage in crypto gambling if you live in a state where online gaming and digital coins are legal.

United Kingdom: Crypto gambling is entirely legal in the UK. However, as a crypto gambler, you must only register and wager with BTC casinos licensed and regulated by the UK Gambling Commission (UKGC).

Canada: The legality of crypto gambling in Canada varies from province to province. Some regions, like Quebec and Ontario, support the activity, but only for government-run gambling websites. Other provinces allow privately owned gambling sites to operate. If you’re in Canada, you’re safe so long as you use an authorized crypto gambling platform in your province.

Australia: While digital coins are legal and permitted in Australia, gambling with them isn’t. Specifically, the Australian government passed a bill in 2023 to prohibit the use of credit cards and digital currency for gambling. Players in the country can only use debit cards and eWallets for transactions.

Do I Have to Pay Taxes on Crypto Gambling?

You may have to pay taxes on crypto gambling, but this depends on your jurisdiction. If you use Bitcoin and other digital coins at online casinos, countries like the US and Canada require taxes on your winnings. Meanwhile, others, like the UK, don’t demand tax.

🇺🇸United States: In the United States, winnings from crypto gambling are considered income, so you’ll pay federal taxes. Capital gains taxes will apply if the value of your crypto winnings appreciates following price volatility. You can expect between 0% to 37% tax, as the exact rate depends on your gross income.

🇨🇦Canada: The Canadian government subjects crypto gambling winnings to income tax. Specifically, the country counts digital coins as legal assets, so you pay tax when you dispose of or acquire them at online casinos. Our findings confirm that up to 50% of capital gains are taxable at a 20% rate.

If you’re wondering about Australia, the country applied a tax of 10% to 50% of crypto winnings. However, since crypto gambling is no longer legal in the country, the tax no longer applies.

Best Crypto Gambling Strategies for Beginners

There are strategies that will help you make the most of crypto betting. If you’re yet to get familiar with all the workings of cryptocurrency gambling platforms, check out our top five strategies to improve your experience:

✔️Get familiar with the games: Before you wager your crypto coins, browse the game library and test titles for free in demo mode. It’ll help you identify the best games that suit your style before you gamble with real money.

✔️Have a budget: This strategy is crucial for bankroll management. Always ensure there’s a limit on how much you spend while gambling, and try not to exceed it.

✔️Stay up-to-date with market movements: Bitcoin and altcoins are volatile, which is one of the primary risks of crypto gambling. Monitor the market and price fluctuations so you’ll know if your gaming crypto portfolio is heading for a bullish or bearish run, and you can protect your funds.

✔️Take advantage of bonuses: The best crypto gambling sites will feature rewarding promotions to boost your bankroll. Some other offers — like cashback — will help mitigate the effect of losses. Without question, there’s much to benefit from claiming these bonuses as a new crypto gambler.

✔️Have a stablecoin wallet: Here’s another strategy to help you avoid the market volatility risk. Stablecoins like USDT, USDC, and BUSD peg their prices to the USD, so their value doesn’t fall or rise like BTC and other altcoins. It’s essential to own at least one stablecoin wallet so you can quickly transfer and safeguard your cryptocurrencies if market conditions are unfavorable.

Crypto Gambling Security Best Practices

Safety plays a massive role when it comes to crypto gambling. If you’ve taken note of the strategies to apply while gaming, it’s vital to learn reliable techniques to secure your account, digital funds, and data. We’ve pinpointed the five best practices below:

security⭐Use secure wallet providers: Ensure that the crypto exchange or wallet you use for gambling is dependable with security mechanisms like 2FA, multi-signature authentication, and paraphrase protection. The idea is to guarantee no third party can access your funds without permission.

⭐Activate platform authentication: Most crypto wallets will allow you to implement a secondary authentication process when transferring coins to others. If this option is supported, you’ll want to make sure it’s turned on to safeguard against unauthorized transactions.

⭐Regularly update your software: If you use your crypto wallet via a mobile or desktop app, it must be updated as soon as there’s a new version available. That way, there’ll be zero room for any vulnerability or bugs that hackers can exploit.

⭐Always browse the web safely: The general advice here is to avoid using public WiFi to access your wallet when gambling with crypto. Only use your device network. While navigating the internet, be mindful of what pages you visit and links you click. Some may solely be out to steal your data.

⭐Turn on account notifications: The best cryptocurrency gambling casinos will provide an option to turn on notifications via email or SMS. Opting in is worthwhile, so you receive alerts about any activity on your player account. If there’s anything suspicious, you can swiftly take action to protect your coins.

What Is Crypto Betting?

Crypto betting simply involves wagering on sports events using digital coins like BTC, ETH, and USDT. If you’re wondering how it differs from crypto gambling, it’s that crypto gambling is widely used to refer to playing casino games with digital coins. Meanwhile, crypto betting focuses on sportsbooks.

The advantages of betting with crypto range include anonymity, increased security, and fast transactions. Plus, if you bet on sports using digital coins, you enjoy low deposit and withdrawal fees. However, like crypto gaming on casino games, the risk of volatility persists. There are limited regulatory rules surrounding betting with digital coins, and laws vary from jurisdiction to jurisdiction.

How Crypto Betting Works?

Crypto betting is relatively straightforward, and you can get started in a few minutes. If you already wager on sports events, the process is similar. You’ll find the same sports, markets, and other features as at conventional betting sites. The only difference is that you’ll be depositing, wagering, and withdrawing using digital coins and not fiat.

So, if you want to fund your account, you’ll have to transfer coins from your crypto wallet to that of the sportsbook. Afterward, you can make your selections and enter the number of coins you want to bet on your slip. If your wager wins, you provide your wallet dress to the crypto betting platform to send payouts.

How to Bet with Crypto?

We’ve provided a brief rundown on how crypto betting works. If you’re ready to get started, here are more detailed step-by-step instructions to guide you:

🔷Choose a reputable crypto sportsbook: We recommend paying attention to licensing and reputation, sports categories and markets, odd margins, security, bonuses, and available cryptocurrencies when making the selection. These factors will ensure you pick the best site.

🔷Create an account: Usually, you won’t have to provide many details compared to conventional betting sites, so this step won’t take much time.

🔷Fund your account: You have to deposit to place real money bets and claim the welcome bonus available at the crypto sportsbook. To do this, navigate to the deposit section and generate the sportsbook’s wallet address. Then, launch your own wallet and transfer coins to the casino. The process is typically instant.

🔷Place bets: With coins in your betting account, you can browse the available sports categories, markets, and odds to make your selections. You can place single bets or parlays. When done selecting, review your picks, set your stake, and submit the slip.

🔷Withdraw winnings: You’ll complete this step whenever your bet wins. All that’s involved is visiting the payout page and submitting your wallet address and the amount you want to withdraw. The sportsbook will review, and if you’ve satisfied all requirements, you’ll receive the funds in your wallet.

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Different Types of Crypto Bets

When selecting a crypto sportsbook, it’s essential to pick one that supports a variety of bet types. If the platform only allows a few markets, you’ll have limited options when making predictions. So, what are the different types of crypto bets to look out for? We’ve researched and presented the top ones below:

🔹Straight bet: Known as moneyline, this bet type involves predicting the outright winner of a sports event. We recommend going for them if you’re new to crypto betting as they are straightforward bets but you must ensure each prediction is backed by in-depth research.

🔹Parlay: This basically involves betting on multiple sports events at a time. With parlays, you can get higher payouts since the sportsbook will multiply the odds of each event by your stake. However, the more selections there are, the higher the risk. So, a parlay is suitable as a strategy if you want better payouts and don’t mind the increased risk.

🔹Point spread: You can view this crypto bet type as a handicap where you wager on the margin of victory or defeat in a sports event. The sportsbook will set the spread at a particular point; then, you bet whether a team or athlete will cover the spread or not. For this bet type, an essential strategy is to pinpoint the favorite and underdog for the event. Then, analyze their recent form to know which has the upper hand in beating the spread.

🔹Over/under: The over/under bet type lets you predict whether a result will exceed or be less than a number. You’ll sometimes see it called totals, and it is more popular for goals in football. Over/under bets can be simple to predict with extensive research.

🔹Futures bets: With futures bets, the idea is to predict long-term results that will take weeks or months. For instance, at the start of an NBA season, you can bet on who’ll be the champion — which will take up to seven months. These bets offer higher odds since they’re difficult to predict. While not suitable for beginners, you’ll appreciate this bet if you don’t mind waiting longer for results when betting at a crypto sportsbook.

🔹Player props: In team sports, you can place proposition bets on specific individual performances. This option is suitable if you find it difficult to predict the general outcome of the event, and it offers a wide range of prediction possibilities.

🔹Live betting: You may sometimes miss submitting your bet before a sports event kicks off. But don’t worry; the best crypto sportsbooks support live bets, allowing you to wager on ongoing games. Live betting is a workable strategy to capitalize on fluctuating odds as the events progress. However, the markets can be highly volatile, so if you pick this bet type, you must make quick decisions.

Cryptocurrency Gambling & Betting Essentials

Let’s go into detail about what is involved when using cryptocurrency for gambling and betting transactions.

❓How to Select Your Cryptocurrency?

selecting cryptocurrencies

It’s essential to select the right digital coin to gamble with at crypto casinos and sportsbooks. Here are our top tips:

1️⃣Consider market capitalization to select coins with significant value. Naturally, you can go for big ones like Bitcoin, Ethereum, Litecoin, Ripple, Tether, and others.

2️⃣Analyze the past price performance of the digital coins. The idea is to identify cryptocurrencies that have steadily gained value so you can expect positive returns in the future.

3️⃣Pay attention to your personal preferences and pick a coin that best aligns with them. For instance, BTC is the number one and most secure crypto coin, but it’s not the fastest regarding transactions nor the most affordable in terms of fees. You have to decide what is most important to you.

4️⃣Go for crypto coins with broad community support. If the community revolves around online gambling, it’s an added advantage. The reason is that if you have questions or issues managing your wallet, you can quickly source assistance.

❓How to Choose a Crypto Wallet?

casino wallets

To ensure you select a reliable wallet for crypto gambling and betting, take note of the recommendations below:

➡️Get familiar with the different wallet types: There are hardware, software, and paper wallets, each with varying security and accessibility levels. Software wallets are the most popular for crypto gambling, but it’s still worth researching the others.

➡️Confirm the wallet’s compatibility with digital coins: Top wallet providers accommodate a broad range of cryptocurrencies, but they can’t feature all of them. As a result, it’s vital to verify that the one you pick supports the coins you intend to gamble with.

➡️Evaluate the wallet’s security features: Here, you’ll want to pay attention to aspects like encryption, 2FA, backup and recovery, and supported integrations. The best wallet is one that can protect your funds from all forms of unauthorized access and cyber threats.

➡️Consider the user experience: Specifically, this is to confirm the wallet is convenient to operate. Since you can’t gamble directly from your own wallet, sending and receiving coins needs to be hassle-free.

➡️Check transaction fees and other associated costs: Crypto transactions usually come with minimal charges, but some wallet providers have specific service fees for getting coins in and out. We advise comparing these fees and costs across different platforms and prioritizing the most affordable ones.

❓How to Deposit?

crypto casino deposit address

Funding your crypto gambling or betting account is effortless. If you’re logged in, follow the steps below:

1️⃣Access the deposit page: Usually, you’ll find a large “Deposit” button at the top right or bottom of the page.

2️⃣Select your preferred cryptocurrency: Note that after selecting a digital coin, some platforms will provide the option to set up a network. If you pick ETH, for example, you can choose Ethereum, BEP20, Polygon, or other supported networks.

3️⃣Copy the gambling site’s deposit address: The wallet address will automatically generate after you select a coin, and the site will display the minimum amount to transfer.

4️⃣Switch to your wallet and make the deposit: Simply launch your wallet app or website and paste the casino or sportsbook’s address. Then, enter the amount you want to deposit and authorize the payment.

5️⃣Confirm the coins in your account: Finally, you can return to your casino or sportsbook account and check that the coins have been credited. Per our experience, crypto deposits are generally credited instantly.

❓How to Withdraw?

crypto casino withdraw method

The steps for withdrawing are not much different from those for depositing. If you win while gambling or betting, here’s how to go about claiming your payout:

➡️Navigate to the withdrawal page: You usually have to click the menu and select your account or profile. Then, you’ll find Withdraw as one of the options.

➡️Choose the cryptocurrency you want to withdraw: This is like selecting a coin to deposit, so you’ll find it simple.

➡️Enter your wallet address and withdrawal amount: You’ll find these fields on the payout page, so provide the details accordingly. Ensure each is accurate to avoid transaction failures.

➡️Cross-check all withdrawal details: The crypto casino or sportsbook will usually display fees and other information regarding the transaction. It’s important to review everything and confirm that you’re happy with them.

➡️Submit the transaction: The last step is to hit the Submit button at the end of the withdrawal page. Then, wait for the crypto gambling platform to process the payout and credit your wallet.

Will Wood’s Expert Take on Cryptocurrency Gambling and Betting

Having been in the niche for 5+ years, I believe many bettors and players are yet to leverage the benefits of crypto gambling. The primary reason is that it can seem very complex. But with the proper guidance, you’ll find it’s not. If you register with reputable crypto casinos and sportsbooks, you’ll find the same range of betting options and games as traditional platforms. At the same time, you get swift transactions, high security, and minimal costs. There’s no doubt that, with such advantages, it’s worth making the switch to using cryptocurrencies for your gambling and betting.

Responsible Gambling

The concept of responsible gambling is to stay safe and mindful at crypto online casinos and sportsbooks. If you don’t monitor and control your wagering, it’s easy to go overboard and spend more time and money than is healthy. But by following responsible practices, you can avoid problem gambling.

Based on our industry experience, responsible gambling revolves around awareness, self-control, and rational decision-making. It’s essential to watch out for signs of your betting getting out of hand so you can mitigate the effects before it develops into a serious issue.

Maintaining a healthy attitude towards your gambling activity is much easier if you pick a crypto casino or sportsbook with dependable responsible gaming measures.

How to Check That Crypto Sportsbook and Casino Sites Are Adhering to Responsible Gambling Measures?

Licensed and regulated crypto gambling platforms are obliged to implement responsible gambling measures to help players. If you’re wondering whether your selected Bitcoin sportsbook or casino adheres to this, there are some specific details to check. We’ve explained them in the subsequent sections.

🔵Transparent Terms and Conditions

As a player, you must know what you’re getting into when you sign up with a gambling platform. If you sign up with reputable crypto casinos and sportsbooks, they will have detailed and transparent terms and conditions. The most essential information to pay attention to is how the site handles users’ data and its deposit and withdrawal policies.

🔵Age Verification Process

Responsible gambling involves ensuring minors have no access to sportsbooks and casinos. If a crypto casino or sportsbook prioritizes safe gaming, it’ll have a verification system to confirm that all users are up to gambling age. This is usually implemented as part of the Know Your Customer (KYC) measures via ID checks.

🔵Accessible Gambling and Betting History

With easy access to your gambling and betting history, you’ll know if you’re spending more time and money than is healthy. If you can efficiently monitor your previous activities, it becomes easier to make informed decisions regarding your gambling behavior.

🔵Reminder for Reality Checks

From our findings, this feature isn’t present on many platforms, but it’s invaluable when available. Reality checks provide prompts that question you about your recent gambling activities. They essentially access your real-time betting behavior, and from your replies, you get recommendations on whether it’s time to take a break or some other crucial action.

🔵Implemented Cooling-off Periods

This feature is vital as it allows you to temporarily block access to your account and remain free from gambling-related activities for days and weeks. If a crypto sportsbook or casino doesn’t support cooling-off periods, it has no plans to help players stay responsible. It’ll help mitigate the early effects of problem gambling so you can step back and reassess your wagering habits.

🔵Options for Self-Exclusion

While cooling-off periods last days or weeks, self-exclusion typically takes at least six months. Sites that prioritize responsible gambling will offer automated tools to activate self-exclusion or provide prompt responses if you request it by contacting customer service.

🔵Setting Time Limits

It’s vital to verify that the crypto sportsbook or casino you sign up with supports time limits. That means you can restrict the number of minutes and hours you spend on the site daily or weekly. If applied early and effectively, time limits can eliminate chances of addiction and excessive wagering. It’s an easy but highly efficient responsible gambling approach.

🔵Managing Deposit and Spending Limits

Similar to limiting your time when gambling, you can restrict how much you deposit and wager. Usually, the limits can be daily, weekly, or monthly. This can help avoid addiction and excessive betting because when you’re out of funds, you have to stop.

Experts Behind Our Sportsbook & Casino Sites Listings

To ensure we only recommend the best crypto sportsbooks and casino sites, our team of experts invests hours into detailed research. If you want to learn about crypto betting, Bitedge is the #1 source of reliable information.

Our combined 50 years of crypto and 100 years of betting experience make us true industry experts. Our active community of crypto betting enthusiasts trusts our 12 dedicated experts and authors to provide them with 100% up-to-date information and the best tips for their online gambling activities. We hold ourselves to a very high standard and insist on only publishing honest, accurate, and high-quality content.

Conclusion

So far, we’ve covered all there is to know about crypto gambling and betting. If you were new to the subject matter, you now know what’s involved with using digital coins at online casinos and sportsbooks. Engaging in crypto gambling can be highly beneficial, considering the long list of advantages. There are fast transactions, advanced security with blockchain, minimal fees, and overall anonymity when betting and playing your games.

As explained, the main drawbacks of crypto gambling and betting include limited regulations and market volatility. However, you can mitigate both. There are licensed and regulated crypto casinos and sportsbooks you can register with and gamble without legal issues. Plus, stablecoins exist, allowing you to bet and play games with crypto without bothering about fluctuating values.

Ultimately, if you sign up with a crypto casino or betting site, it’ll be a worthwhile decision. That said, ensure you follow the crypto gambling strategies we recommend if you’re new to the niche. Take note of the security best practices and responsible gaming advice to stay safe while wagering on sports or games with Bitcoin and other digital currencies.

References

We sourced help from multiple resources online to guarantee our comprehensive crypto gambling and betting guide includes accurate and recent facts. Some of the pages we referenced include:

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A pro gambling writer since 2015, immersed in the world of crypto since 2016. I've built up a wealth of knowledge and experience in both crypto gambling and crypto betting, making me one of the most prominent voices in the industry.

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Facts Checked by Vlad Hategan