Crypto betting 101

Contents

    “honestly sport betting with bitcoin has made this the most exciting NBA playoffs season ever for me. It’s fun to be able to throw $15 on a parlay and hope for a big win. I don’t usually gamble, and I never knew how to get in touch with the local bookies in my area, but its freaking awesome I can do this with bitcoin and gamble amounts I’m comfortable with.”

    ~Reddit User: LeTenken

    What is crypto

    crypto currencies are hybrid assets. A crypto like bitcoin is an invention, technology, payment processor, network, store of value, unit of account, currency, commodity, investment et cetera, hence a hybrid asset.

    Crypto allows any 2 people to transact almost free and instantly, anytime, anywhere, with no 3rd parties such as banks or governments involved. Sending someone money is as quick and easy as sending an email.

    The amazing technological innovation is to use a decentralized peer-2-peer network to record and verify all transactions on a public ledger based on proof. This is called a blockchain, and it has profound implications for all tech-based areas of our lives not just money.

    For example blockchains are the best way to do

    For a technical overview please read the original white paper by the initial developer.

    How to get crypto

    To bet with crypto you will have to get some first. The best way to do this is to provide goods or services (such as your job) and accept payment in crypto. Alternatively you can buy crypto from an exchange like you would for a foreign currency.

    We recommend you buy as much crypto as you can afford, not just the amount you want to bet with. This is because most of the top cryptos are a much better store of value and method of transacting than government currency.

    Advantages of crypto betting

    • Unrestricted; all sportsbooks listed here accept players from your location.
    • Almost free and instant deposits and withdrawals of any amount 24/7.
    • Sportsbooks save so much in banking and compliance that they can give higher odds.
    • Betting anonymously makes it
      • Impossible for a sportsbook to limit you for winning too much.
      • Impossible for a sportsbook to sell or misuse your personal information.
      • Easier to avoid legal and tax issues.

    See our sportsbook reviews for where to bet with crypto.

    2 comments

    1. Wlliam

      Free and instant deposits and withdrawals of any amount 24/7…………..Not exactly

      • BitEdge

        You have a point. There are sites that do instant bitcoin deposits and withdrawals but it’s not as common as it was when I first wrote this. Most sites now wait 1 confirmation which takes an average of 5 minutes and bitcoin fees are no longer free.

        You can still do almost free and instant transactions with other cryptos like dash.

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