The rapid rise of cryptocurrencies such as Bitcoin has had a massive impact on real money betting sites in the last few years, with more Internet sportsbooks than ever offering Bitcoin-related sign up bonuses and promotions in addition to existing deposit and withdrawal options trusted globally, such as credit card, debit card, pre-paid and direct bank transfers. This page looks at the best fiat currency betting sites which accept Bitcoin and which offer a sizeable Bitcoin welcome bonus for players to take advantage of and get the best betting value.
Best online fiat currency betting sites with Bitcoin also accepted
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Best fiat currency betting sites with Bitcoin deposit option
Bitcoin has only been around since 2009 and was first implemented into leading online sportsbooks from around 2011. Until this year, it has not exactly been a fair fight when comparing the quality of sign up bonuses and match deposit offers when depositing with Bitcoin versus fiat currency. However, more mainstream regulated sportsbooks and Bitcoin-only betting sites have begun to offer real value and regular promotions when it comes it to getting the most out of your Bitcoin deposits.
All sites listed in the table above match our criteria for those who prefer using the popular cryptocurrency for betting on their favourite sports and races. The table is specially geo-targeted to your location, so it only ever shows licensed and legitimate online betting sites that cater to your region legally at the time of your visit.
We will list a few specific examples of fiat currency betting sites accepting Bitcoin in the sections below, split into two distinct categories: traditional online sportsbooks which offer Bitcoin as a deposit and withdrawal option, and Bitcoin-only sportsbooks (our reviews will be coming in the near future).
5Dimes: This USD betting site allows you to deposit with both bitcoin and fiat currency methods (credit or debit card, e-Wallets, cheque and bank wire) and withdraw in Bitcoin, but Bitcoin cannot be used for actual wagering. The minimum deposit amount accepted with Bitcoin is the equivalent of $25 and the maximum amount is the equivalent of $5,000. The minimum withdrawal amount you can request through the 5Dimes online cashier is $50 and the maximum amount is $10,000, though higher limits are available if you speak to customer service. Bitcoin payouts are also fee-free and unlimited if you funded your betting account using only with Bitcoin (not with any fiat currency), which is a massive plus in our books. Read our official 5Dimes sportsbook review.
BetOnline: This USD betting site allows you to deposit with both bitcoin and fiat currency methods (credit or debit card, e-Wallets, cheque and bank wire) and withdraw in Bitcoin, but Bitcoin cannot be used for actual wagering. The minimum deposit amount accepted with Bitcoin is the equivalent of $20 and the maximum amount is the equivalent of $25,000. The minimum withdrawal amount you can request through the BetOnline online cashier is $20 and the maximum amount is $10,000 per day. Bitcoin deposits and payouts disappointingly carry a 6.5% payout fee on BTC deposits and 2% on BTC withdrawals. Read our official BetOnline sportsbook review.
How does using Bitcoin work at fiat currency betting sites?
When you bet at a traditional online sportsbook using Bitcoin deposits, your cryptocurrency is typically converted into your chosen fiat currency. Instead of the sportsbook in question crediting Bitcoin to your betting account so you can bet with BTC, you instead wager with the fiat currency equivalent instead. For example, if you are a player from North America, depositing 10 BTC into your preferred online betting site will see your account credited with the USD equivalent (subject to current conversion rates). Essentially, you are funding your account with Bitcoin, but betting with fiat currency. However, if you score any winnings and want to withdraw your money, your funds can be converted back into Bitcoin and sent back to the Bitcoin wallet address you attach to your account. Simple.
At online sportsbooks which are Bitcoin-only, things are a little different. When you deposit using Bitcoin, your account is credited with BTC. All bets are BTC, and all payouts are in BTC. Because of the nature of Bitcoin and its market price constantly changing and fluctuating, your balance can and will change over time – so players need to be more aware of when you deposit and bet, and when you decide to withdraw your winnings. If you are worried about Bitcoin market value crashing down, consider just using your BTC for deposits at traditional fiat currency sportsbooks with Bitcoin accepted as just another option rather than the primary one, as any BTC converted fiat currency in your betting account is never affected by any potential BTC drops.
For more basic step-by-step guides on how to set up a Bitcoin wallet and deposit BTC into fiat currency online betting sites, check out our special Bitcoin deposits guide.
Why use Bitcoin for online sports betting?
Added privacy: Depositing with Bitcoin means you will often only be asked for your basic details such as date of birth or email, and you don’t have to go through the lengthy process of providing additional documentation just to withdraw your cash winnings like you would if using card options. For those who seek extra privacy for their betting activities or just prefer to skip the whole song and dance and get your money quicker without giving your whole life story, BTC definitely has an edge when offered as a payment method at fiat currency betting sites.
Better bonuses: There used to be a time where depositing with Bitcoin sucked compared to depositing with traditional fiat currency, as there were few offers which took advantage of the cryptocurrency. Now, however, several sites offer huge match deposit bonuses if you deposit using BTC; Bovada, for example, currently grants all players who sign up via our links (and use the bonus code at checkout, ‘BVSBITCOIN50’) a 50% Match Bonus up to the maximum value of $500.
Smaller processing fees: “Hidden” or extra fees associated with traditional payment methods like credit card or bank wiring are much less with Bitcoin, which often has 100% free deposits and withdrawals. For US players who typically have to put up with high fees during cash outs, this is a godsend. 5Dimes is one such site that does not charge you when requesting payouts in BTC. Still though, some fiat currency betting sites also accepting Bitcoin such as BetOnline disappointingly imposing a rough 6.5% payout fee on BTC deposits and 2% on BTC withdrawals.
Quick withdrawals: Regulated online sportsbooks we recommend like BetOnline and Bovada process Bitcoin withdrawals typically within 48 hours at maximum, with the fastest turnaround reported at 10 hours or less at some of our recommended sportsbooks. This is a lot faster than using traditional fiat currency withdrawal options like cheques or direct bank transfer, which often take days due to needing to provide ID or additional documentation to satisfy T&Cs.