Your Guide to Cryptocurrencies Betting & Gambling

Crypto Gambling & Betting

Crypto gambling and betting have exploded in popularity in recent years, as an alternative to betting with fiat currencies. Cryptocurrency allows players to gamble with more flexibility in payments, allowing for faster withdrawals, greater privacy, and virtual anonymity worldwide.

Gambling with cryptocurrency has no need for KYC verification because cryptocurrency is not considered legal tender in most countries. This gives you more choices around betting online, with a number of licensed, regulated sites now offering casino gambling and sports betting with exclusively crypto payments.

1. Understanding the World of Crypto

The world of crypto can be confusing at first glance. Private keys, wallets, coins, tokens, and blockchain – there’s plenty of jargon. But you don’t have to be a crypto expert to start sending and receiving cryptocurrency payments.

Learn more about the world of crypto, how it all works, and what you need to start using cryptocurrencies for online crypto casinos and sportsbooks.

2. Start Using Cryptocurrencies

To start using cryptocurrencies, you’ll first need a crypto wallet. This is a place to store your crypto, either online (more flexible) or offline (more secure), depending on your preferences.

• Digital crypto wallets are available free online, and you’ll be able to store crypto in a wallet by default when you buy through platforms like Coinbase.
• Hardware crypto wallets are more secure, but you’ll need to purchase one to store your cryptocurrency. These are physical devices you hold, which store your cryptocurrency.

Once you’ve got a crypto wallet, you need to buy crypto – usually on an exchange. When you’ve bought your crypto, you can send this to your wallet by copying in your wallet address details – the unique character string that identifies your crypto wallet.

Learn more about what you need to buy and sell crypto, and how you can get up and running with your first crypto deposit.

3. Choosing Reliable Crypto Gambling Platforms

Gambling with crypto has a number of benefits – not least security, privacy, anonymity, and access to a wider choice of platforms. But you need to be certain you’re dealing with a legitimate, reliable crypto gambling platform before depositing any funds.

Our team of crypto gambling experts has put together detailed reviews and recommendations for the best places to gamble with crypto. Pulling no punches, our reviews advise on the best casinos, sportsbooks, and gambling sites to help you find legitimate, trustworthy destinations for your crypto gambling.

Read more to discover the best crypto casinos and sportsbooks for new players.

Responsible Gambling – How to Deal with the Problem?

Responsible gambling is as much an issue with crypto gambling as anywhere else. Gambling should always be fun, and you should only ever play with money you can afford to lose. For some people, that’s easier said than done.

Read our guide to help spot the signs of problem gambling, learn more about the tools available to control your gambling, and discover the resources available for learning more about how to gamble responsibly.

Identifying the Problem

Problem gambling comes in different forms. However, some key signs can help you identify the problem in yourself and others.

• Spending more money gambling than intended
• Spending more time gambling than intended
• Aggressively chasing losses after losing money
• Feelings of guilt about gambling behaviors
• Behavioral changes, falling out with friends and family
• Hiding gambling behavior or spending
• Borrowing money or selling belongings to fund gambling

Ultimately, if you feel your gambling may be getting out of hand, or you are feeling drawn into gambling to a level that makes you feel uncomfortable, you should take action. Read our guide on how to identify and tackle gambling problems.

What Limits to Take

Setting limits on your gambling is recommended. You should set personal limits on the amount you are willing to spend and the amount of time you spend gambling.

Tools are available at reputable online crypto casinos which can help with both of these limits.

• Spending limit tools allow you to set maximums on the amount of money you are prepared to spend per month.
• Time limit tools allow you to set a hard stop on your gambling time, so you’re not drawn to spending more time than you intended gambling.
• If your gambling is getting out of hand, the ultimate recourse is self-exclusion. This is where you tell the casino that you no longer want to gamble through their site. Self-
• exclusion can be temporary or permanent. Legitimate casinos will always honor self-exclusion requests

Learn more about the limits you can take to control your gambling

Educational Resources

Our comprehensive list of resources, articles, tips, and support organizations to help those suffering from gambling problems.

Crypto Gambling & Betting Tax

Even when you’re gambling with cryptocurrency, there may be tax liabilities to consider. Depending on the rules in the country you pay tax, you may be under an obligation to report your winnings to the authorities. Our crypto gambling and betting tax guide explores when and how much tax you may need to pay.

Tax-free Limits

Some countries allow tax-free limits. This is an amount you can win tax-free from gambling with crypto. Winnings below this threshold do not usually have to be reported to the authorities. Get to know your tax-free limits where applicable, so you can factor this into your gambling decisions.

Requirements for Reporting

It’s also crucial to know when you need to report your winnings and the form this needs to take to be compliant with the laws in your country. Our guide to crypto gambling and betting tax explores when you need to report, and what you need to tell the authorities to stay legal.

Legal Consequences

What are the legal consequences of failing to disclose your winnings appropriately? We look at the laws and the punishments for failure to comply, depending on the country you live in and the amount of betting tax you may be liable to pay.

Wagering Requirements

Wagering requirements put a limit on what you can do with casino bonuses. Understanding the wagering involved in any bonus is an important precursor to withdrawal – otherwise, you run the risk of voiding your bonus and any winnings from it. You need to meet the wagering multiple before you can withdraw from any casino bonus. But how does this work in practice?

How Does it Work

Wagering requirements are usually stipulated as a multiple of the deposit, the bonus or the deposit plus the bonus. This is the number of times you need to bet through the principal before you can withdraw any of your winnings from the bonus. So a 10x wagering on a £20 deposit bonus means you need to wager £200 before you can withdraw any winnings from your original £20.

Reason for Wagering

Wagering exists to protect casinos against bonus abuse. Put simply, casinos can’t give out free money. While no wagering bonuses do exist, casinos have to be careful with these offers. Wagering means they can minimize any losses from their bonuses, while still giving players an incentive to try out their platform.

Payment Methods – How to Make Deposits and Withdrawals?

Payment methods govern how you move money to and from your casino account. Whether that’s in cryptocurrencies, or through fiat currencies like dollars and euros, knowing the payment methods available – and how to make deposits and withdrawals – is an important first step in choosing a crypto casino.

We look at the payment methods, currencies, and deposit and withdrawal processes for moving money to and from your casino or sportsbook account.

Payment Methods

Most of the casinos we recommend are exclusively crypto casinos, offering fast, flexible payments in cryptocurrency. Where fiat payment methods are supported, casinos will often have payment methods like debit card, PayPal, Neteller, and bank transfer, giving you options on how you choose to deposit and withdraw. Read our guide to learn more about payment methods.

Currency Options

Crypto casinos often support a range of cryptocurrencies – most commonly the likes of Bitcoin, Ethereum, Litecoin, Tether, and Bitcoin Cash. For fiat payment methods, there is the option to pay in your local currency, or an alternative local currency if you’re playing by VPN and that option works for you.

Transaction Fees

Transaction fees are a fact of life with all payment methods to some extent. For crypto payments, network fees may be a factor, while fiat payment methods like eWallets often charge a small percentage on money received. Casinos sometimes charge withdrawal fees too, depending on their payment policies.

Bankroll Management – How to Manage Your Budget?

Bankroll management is one of the most important elements of controlling your spending and casino strategy. We offer advice on how to effectively manage your gambling budget so you don’t run out of money.

Activate Deposit Limits

Deposit limits are available across most reputable casinos, giving you total control over your spending. Learn more about the types of limits available to you, and the amounts you should use to manage your budget effectively.

Tracking your betting expenses

Player history, betting history, manual notes – they all go some way towards helping you keep tabs on your spending and your losses. We look at tips for tracking your gambling spend, so you can keep on top of your outgoings and keep your purse strings tight.

Budget Review

Tools, tips and tricks for setting and managing your budget, so you can stay in complete control of your gambling budgets.

Licensing – How They Work & Operate

We always recommend playing with casinos that hold a license from a recognised international licensing authority. This could be Curacao, Costa Rica, Malta or the UK, via the Gambling Commission, depending on the location and setup of the casino in question.

License Verification

We recommend double-checking that licensing information is accurate by verifying with the relevant authority that the casino is licensed and in good standing. Read on to learn more about licensing and how you can check if licensing information is accurate.

Regulatory Compliance

Compliance is a by-product of licensing, forcing casino operators to perform to set standards to hold on to their licenses. Depending on the authority, some regulators will also take a position on casino disputes and can help you if you have a disagreement with the casino.

Consequences for Unlicensed Casinos & Sportsbooks

We always recommend you avoid unlicensed casinos and sportsbooks where possible. Understand the problems and dangers that lie in waiting for those playing at unlicensed casinos.

Crypto Gambling & Betting Glossary

Our crypto glossary explores the common terminology and jargon you’ll come across when making your way through the crypto gambling world. Learn your private keys from your network fees, and your hard wallets from cold, with our comprehensive glossary.

Frequently Used Terms

Our rundown of the most frequently used terms in the crypto gambling world, including common terminology at crypto casinos and sportsbooks.

Examples and Explanations

Detailed examples of how crypto casinos and sportsbooks work in practice, as well as explanations on how to send cryptocurrency transactions, and receive withdrawals to your crypto wallet.

Features and Mechanisms

An in-depth look at the features and mechanisms that drive online crypto casinos and sportsbooks.

Our guide to crypto casinos and sports betting covers everything you need to know about gambling with cryptocurrency. Our experts have assembled resources and tips to assist you on your crypto gambling journey.