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Bitcoin betting sites - Pros, Bonuses and Licences

by Staff Writer
06 Jan 2022 at 13:25hrs | Views
Finding a popular site is not enough for fait bets and withdrawals. In this guide, we talk about pros of crypto betting and the importance of licenses.

Bitcoin betting is a modern type of betting that allows you to bet on sports, esports, and virtual sports using cryptocurrencies. Such platforms are now prevalent, but still, not all players understand what is behind them. Of course, there are many reviews websites like, where you can find many guides and reviews of crypto betting services.

We decided to simplify the process and briefly explain the essential issues to you as a future player. Today we will tell you about the advantages of betting sites, about the bonuses that are offered there, as well as about the licenses.

Advantages of Bitcoin Betting Sites
In fact, Bitcoin betting sites differ from ordinary ones in that they allow you to make deposits in cryptocurrencies and withdraw money in the same way. That is why there are many advantages for which users choose such services.

1. Fees are fixed and minimal.

When you deposit with credit/debit cards or payment systems, you will be charged fees depending on the sum you deposit. With cryptocurrency, everything is fixed - you will pay the same amount of commissions sending $100 or $1000.

2. Your location does not matter.

You can send Bitcoin, Ethereum, or another crypto from any country in the world. The speed of transactions and fees do not depend on your location. Also, there are no geographical restrictions to send crypto at all.

3. Transactions are quick.

The time to process the transaction usually depends on the coin you choose and if the network is overloaded. In most cases, transactions in BTC and ETH may take around 10 minutes, and in other currencies - up to 5 minutes.

Bonuses of Bitcoin Betting Sites
First, let's talk about the standard bonuses that betting sites offer.

Welcome bonuses - these rewards are given to people who completed the registration process. Players can receive them in the form of a fixed sum, free bets, etc.

Deposit bonuses - these rewards are given to people who made the first deposit. They are usually given as a % of your initial deposit and are limited to a particular sum.

Referral bonuses - these bonuses are received when a player invites a friend, and the friend completes certain conditions (for example, registration). Players can receive a % from the friend's first deposit.

These are the main bonuses that crypto betting platforms can offer you, according to our observations. In this section, we would like to pay attention to a specific type of betting bonuses that only crypto services have. When you choose a cryptocurrency for a deposit, you can get an additional bonus precisely for payments in cryptocurrency. Bonus forms vary by platform but are usually expressed as a deposit percentage or a fixed amount.

Licenses for Bitcoin Betting Sites
It is always essential to check bonuses, types of bets, but it is especially important to pay attention to the availability of licenses. At the moment, there are four licenses for crypto betting platforms - Curacao, Malta, Montenegro, and Costa Rica. For users, licenses are crucial for the following reasons:

 - it makes it clear that the casino was checked at the time of fair games,
 - the process of deposits and payments,
 - the legality of activity, and so on.

However, not all licenses will give you the above benefits. Malta and Costa Rica are licenses, roughly speaking, "for the sake of appearance." Platforms are bought simply to avoid specific problems and build user confidence.

Curacao and Montenegro issue licenses that really protect the players and mean that the casino is verified. Most often, you can find permits from Curacao since it is the most materially beneficial for the platforms, and its registration does not take much time.

Once you've checked your license and made sure it's real and of value, check to see if it supports players from your country. For example, Curacao has a list of countries that they do not serve and will not provide assistance in case of a problem.

Bitcoin Betting Sites - Final Thoughts
Crypto and Bitcoin betting platforms, especially during the pandemic, received great popularity because they allowed people to move from physical bettings to their homes, where they feel calm and comfortable analyzing the situation and placing a fair bet.

Remember to check the type of bonuses the service offers and review the kind of license they have. And, if you can not find this info and the support zone avoids questions about licensing, we recommend looking for another betting platform.

Source - Byo24News