What Is eSports Bitcoin Betting?
The currency is not limited to the printed rag content paper anymore that you can carry in your wallets. It’s been a decade that virtual currency called ‘Cryptocurrency’ has been in the headlines. Especially Bitcoin, many people are not trading in the virtual currency as the trade is quite volatile and it really makes you rich in just days.
Speaking of being rich quickly, eSports BTC betting also gained popularity in recent times. Why, if you ask! In fact, eSports bitcoin betting is known to be an ideal fusion of virtual gaming and trade. However, the concept is not widespread, but there are many betting websites out there that are already offering eSports BTC betting.
Whether it’s betting in the world of Counter-Strike or League of Legends, the funding options for users is now expanding to the virtual currency presence too.
Why Use Bitcoin eSports Betting Sites?
Now when you have so many markets to bet on, why not place your eSports games bets online. Convenient, isn’t it? Other than a variety of odds in the online betting market, it offers various payment options too. One such handy option that works to your advantage is to pay through popular cryptocurrency Bitcoin (BTC) using a crypto wallet.
Let’s face it: Bitcoin is known to be the most valuable and highly volatile crypto to serve as an alternative to traditional currency.
So why not use it to your advantage while placing eSports bets? The following reasons are enough for you to choose eSports BTC betting.
The infrastructure built around Bitcoin has evolved over years, which makes this currency safer and easier to invest or spend through online transactions. Focusing on the Bitcoin network, bitcoin can process seven transactions per second.
Well, that is fast! While placing bets on eSports games, all you have to do is make payment through your crypto wallet, offered by exchanges, and you are good to go.
If you have made an online purchase or transaction through crypto wallets before, you are already aware of the fraction of seconds it takes for a BTC transaction. But make sure you enter the correct amount after scanning the second as BTC transactions are irreversible.
Since crypto is operated through blockchain, the transactions do not rely on banks at all. And thus, the security offered at the blockchain interface is at another level. It is way too difficult to crack the codes using blockchain technology. This is how crypto gained popularity.
And there is no way that people with guns can penetrate the encryption of any transaction made through cryptocurrency. Many expert blockchain coders work tirelessly on encrypted sources, which makes it difficult to organize a Bitcoin heist on eSports bitcoin betting sites.
While some people admire the anonymity of BTC transactions, others are still trying to figure out how to trace them. Players registered on bitcoin eSports betting sites always favor anonymous transactions. Everything that is required is a Bitcoin wallet, offered by many online services and exchanges including betting sites.
The bitcoin transactions made to eSports betting websites require no names, addresses, or any personal information of the user.
If you know a little bit about cryptocurrency, anonymity is known to be a big part of the whole blockchain technology. And since Bitcoin is the first and largest cryptocurrency, the feature is followed by BTC too.
Legality and Regulation Behind eSports BTC Betting
Many regions in the world allow specific legislation to license and regulate companies. These regions are also allowing betting through bitcoins, however, regulation and legality might vary from region to region to different traditional betting sites.
While choosing the eSports betting with bitcoin sites, make sure you run through their licensing jurisdictions that issue licenses. Whether to accept bitcoin or not is a decision made by licensing authorities, which is very much present on the betting sites.
eSports Bitcoin Betting Vs Traditional eSports Betting
You can opt for a traditional way of paying for eSports, but the advantages of eSports betting with bitcoin will amaze you. Why is betting with bitcoin popular now? Why are betting sites keen to accept bitcoin on eSports events?
As people around the world are now bending more towards the crypto transactions rather than traditional transactions, why not betting sites? It is the exceptional freedom that players receive in eSports betting that makes it an ideal choice to win big money in eSports titles with anonymous scaling. Here’s the list of significant reasons why you should opt for a betting site that accepts bitcoin.
Owning Bitcoin offers a huge financial freedom to the users. Let’s consider an example to understand the concept. For instance, the fiat currency currently in your wallet is a $100 bill. No matter how old you are, now matter how long you save this bill, it will be ‘100’.
But if you have a Bitcoin saved in your wallet somewhere on a folder in your laptop, the value of that digital currency changes everyday. Maybe the day you bought bitcoin, the value was $15,000. But with time, the value might multiply in doubles and triples too!
This is called the financial freedom of owning BTC. When you choose a bitcoin eSports betting option, you enjoy the financial freedom through exchanges, as the value keeps on changing.
Lower Cost & Time saving
Since we were talking about the volatility of the crypto market, analyzing the price chart of bitcoin will really help you. When the BTC price is trading in the red zone, that might be a perfect time for you to bet Bitcoin on the recognized betting sites. That means, in comparison to fiat currency, betting with Bitcoin will be realized at a lower cost under anonymous scaling.
And since there is no bank involved during bitcoin deposit and withdrawal, the procedure is quick. You will end up saving time in transactions, and invest more time on sports betting.
Bet From Worldwide
While using Bitcoin as a payment method on eSports games betting sites, you can place your bets from any part of the world. The anonymity of payment keeps your track safe and you can enjoy placing bets from all across the world.
It is the standard bitcoin crypto currency that makes it easy to bet on a betting site. As the majority of the eSports betting platforms accept bitcoin, the platforms witness players from worldwide. So it’s a thumbs up for the site as well as players as the experience becomes quite versatile.
Frequent Bonus and Promotions
Don’t you just love the free spins and first deposit bonus when you make your first payment on an online betting site? Even the skilled players like to enjoy rewards and promotions once in a while. But what you might not be aware of is the frequency of these perks with different modes of payments.
When you pay through traditional currencies, you will receive, let’s say, 2 promo codes and 2 types of bonuses when you bet on the sites. However, placing eSports bets with Bitcoin might reward you with huge cashbacks, 4 promo codes and multiple bonuses. Yes! The frequency of these perks are huge when you are betting with bitcoin.
Free from 3rd party involvement
Making payment through a VISA card on an electronic sports bet when you reside in an Asian country and the website is regulated in Canada, there is a huge chance that the payment will not process. Banks have certain restrictions, especially those made on betting sites.
You will be restricted to place bets. However, if you buy bitcoin and store the same in your crypto wallet, you are done! You can keep betting on eSports through the best crypto wallet. No matter what currency, what location, with crypto payments you can enjoy bets on your favorite games worldwide.
Tack care about the High-volatility of Bitcoin
Have you ever seen the trading graph of BTC/USD?
The market is volatile, but so is the opportunity to win big. Fiat currencies will not make you win big on live betting because of limited trading space. Rather, a small shift in bitcoin price from $12,000 to $15,000 will change the entire betting amount.
How cool is that! Financial freedom is one of the greatest advantages when you bet with decentralized currency.
Pros and Cons of eSports Bitcoin Betting
Before you start your journey with bitcoin eSports betting sites and events’ players, how about knowing what you are getting into! Every coin has two sides right! So does bitcoin eSports betting. This section will brief you about the pros and cons of eSports BTC betting.
So far, it is understood that an eSports betting site offers good bonuses, promotions, rewards and many benefits to bitcoin users, however, there is a grey side of the same as well. Let’s start with the good side first.
If you regularly bet on eSports sites, bitcoin can offer an ideal payment option for you. Gamblers and players are served with multiple options to settle their payment through bitcoin. As a matter of fact, many eSports BTC betting sites are now favoring cryptocurrency as the main mode of payment.
Since the identity of users is not revealed with crypto payment mode, the transactions become more private for the users from all the countries. However, every transaction is recorded on a public ledger, but the identity of the user is always private.
Little or no fees
Since crypto transfers are not done through any third party financial institute or bank, there are either too little fees or no fees charged by licensed betting on eSports sites. Also, the transactions of funds are instant, unlike fiat currency which takes a few days to verify and process after you played bets.
Not as stable as fiat
Since cryptocurrencies are not as stable as fiat currency, Bitcoin is prone to large fluctuations and is known to be a gamble in itself. It is the volatile nature of the currency that can cause severe losses to players as well.
Since Bitcoin is unregulated and unbacked, cyber hacking is a severe concern for people trading online. If the hacking is successful, Bitcoin is effectively gone once the wallet file is corrupted. And there is no way to get that back.
Points to Consider When Choosing Your eSports Bitcoin Betting Sites
It is a real challenge to look for bitcoin eSports betting sites as there are tons of sites that serve much lower quality standards too. Some of the sites with eSports games are genuinely top quality, but some of them cannot be trusted with your money at all.
And thus, it’s vital to choose these sites cautiously. Since you are placing BTC eSports betting on player, the sites must be genuine that offer value to your currency.
It will be foolish to continue eSports betting with bitcoin if the site is not popular or not known for its trusted services. So here are some recommended pointers you must add in your checklist when choosing secure eSports betting sites.
Now if you are based out of a country in North Africa that has banned eSports betting sites, then there is no point gambling with bitcoin players. The reason is quite obvious, if you cannot access the eSports betting sites in your region, chances are that your ID will be traced in the government, and you will lose all bets, if you get caught by the federation.
Now why take such a risk? What did we learn here! When looking for best crypto sports betting sites, make sure you go through their entire list of restricted regions and countries, no matter if they even accept bitcoin. And do not EVER bet on these sites because the next moment your account will be suspended. That will be your final goodbye to the bitcoin sportsbook.
Reputation and Trust
In the eSports industry, one thing that every player and user look for is reputation and trust in the bitcoin eSports betting sites. Since there are many betting platforms now offering bitcoin eSports betting, you have to be very careful with which one to choose.
So if you come up with a list of bitcoin betting sites, the first thing you need to learn about them is their reputation among eSports players placing bets on their site.
It is not just about the advantages of these sites, but what are the benefits they offer. Are they verified or linked to the international Olympic committee, their policies about anti money laundering and how do they handle bitcoin transactions.
If you are unable to get answers to these simple yet vital questions, chances are that the platform is not suitable for bitcoin deposit on eSports events.
Since you are reading about bitcoin eSports betting options, it is clear that you are interested in eSports games like dota, league of legends, and StarCraft already. While choosing the best bitcoin eSports betting platform, the first thing to look for is whether your favorite eSports are even available at the site and sportsbook or not.
At the moment, these are the list of best eSports games that even casino gamblers prefer playing and betting on:
- Counter Strike: Global offensive
- Dota 2
- League of Legends
- Call of Duty
- Rainbow Six Siege
Majority of the eSports players are focused on these popular games to bet on. Yes, some are highly professional gamblers who used to play these games casually, but now take part in global eSports tournaments betting. Some games require independent players to bet in the game, unlike casino sites. Some games, however, require an entire team to compete.
In that case, you have to prepare your league to start the fun of eSports and betting on legends. And since you are trying to find the best sites for eSports games, make sure you check the availability of eSports on the website.
VIP Programs and Bonuses
Using bitcoins for your eSports account is the smart decision you take for yourself. However, not all new users are here to just watch eSports, many of the users opt for an easy registration process to check out available bonuses and VIP programs.
Why check for bonuses if you ask? Well, my counter is why not! Once you register for VIP programs, wager requirements for such sections are quite different, and so is the prize money! If you love to watch professional leagues, there are many secure licensed websites that offer you VIP programs for exploring amazing prize money and opportunity.
Talking about the same, many websites offer unbelievable bonuses that are simply hard to resist. From cashback points to BTC bonuses, many new users simply get lost in the world of bonuses and promotions. Bonuses can help you win and acquire big by investing less as well. Since you initiate payment using blockchain, your bonuses are quite considerable when you make the first deposit or withdrawals.
Payout and Withdraw Speeds & Terms
Popularity of bitcoin as a method of payment on eSports sites became widely acceptable because of the transaction speed and time. As compared to fiat currency, eSports betting with bitcoin offers not only amazing promotions but amazing payouts too! While you are trying to choose platforms for betting with bitcoin, it is vital to know the terms associated with deposits and withdrawals.
What is the processing time for BTC deposit? What’s the speed of BTC withdrawals? How much time does it take for BTC to transfer from wallet to eSports site account? What are the payout terms? Are there any fees linked with bitcoin deposits and withdrawal? When you land on an eSports game site, you must look for the answers of these questions.
As per my research, there is either too little or no fees associated with bitcoin transactions. The transaction speed is quite fast with best eSports bitcoin betting sites. Since transactions are based on blockchain, the transfers happen in just a few minutes.
Now imagine you play a bet on eSports betting sites that accept bitcoin, but your withdrawal is taking more time than expected. Then you call the customer service number, which apparently, does not work.
Or you spend an entire day for the customer service team to respond to your call, but all you get to hear is ‘your call is important to us, stay tuned’.
Now, if this has happened with you before, it means your bitcoin deposit was done at a wrong website. You might have lost the entire amount to a fake betting site. These portals may offer you amazing promotions and bonuses on traditional sports betting, but withdrawals will be as difficult as mining coal.
So you must always review the customer service team of online eSports bitcoin betting sites before you make any deposit.
eSports Bitcoin Betting: Guide to Kickstart eSports Betting Using Bitcoin
New To eSports Bitcoin Betting? Here’s How To Get Started
Transfer the Amount of Funds Into the eSports Bitcoin Betting Site
Once you sign in on the best eSports bitcoin betting site to bet on players, the site will serve a Bitcoin deposit address when you can store your funds for betting on eSports. If you are paying through fiat currency, the transactions might take anywhere from a few minutes to hours.
However, paying through Bitcoin involves too little or no fees that makes the transaction easy and is processed in just a few minutes. How cool is that!
Place Your Bets and Enjoy the Games
Once you deposit bitcoins to play bet on eSports like global offensive, these funds are traditionally converted into fiat currency or simple chips. Betting with bitcoins is easier when the conversion of BTC is turned into another value to avoid any confusion. For instance, depending on the value of bitcoins, a $10 bet on eSports might look like 0.01BTC, which can be confusing for the users.
And thus, eSports sites convert the same into chips or any other counter which makes the betting numbers look closer to your expected returns in fiat currency. So do not get confused if the website displays a counter value.
Withdraw Your Winnings Back to Your Exchange or Wallets
Now, to withdraw the money you earned through winnings, you can get the money back to your crypto wallet from your account. Most of the eSports betting sites will not require KYC or AML when the withdrawal is in bitcoins when you bet on players.
This is the popularity of such sites. The process of exchange on your account to your crypto wallet is quite seamless and the withdrawals are done almost immediately. Bitcoin users can monitor their transactions on the blockchain itself by pasting the wallet address into blockchain explorer.
Rinse and Repeat!
And that’s it! Once you are familiar with the procedure, you can always come back and place bets in the same manner. Deposits and withdrawals are quite simple and faster. Don’t forget to check out best bitcoin sports betting sites and other tournaments. You will earn better money and a welcome bonus at the same time.
How to Bet on eSports Matches Using Bitcoin?
The first and foremost thing on an eSports betting site is to buy Bitcoin first before you play on the platform. You need to have a crypto wallet to keep your bitcoin safely without being traced. However, no personal information is leaked to any site when you pay through cryptocurrency. You can buy cryptocurrency from various crypto exchange platforms like Binance and more.
Just a tip, you must buy Bitcoin when it is trading in the bearish zone. Buying bitcoin at a lower price is always beneficial as your prize money on betting with bitcoin is increased not just with wagering, but it might DOUBLE when bitcoin is trading in the bullish (green) zone. And that way, you enjoy profits not just by winning at rocket league, but since Bitcoin price goes up, your profit will just add on.
So now, you have Bitcoin in your crypto wallet. Once you have made up your mind as to which bitcoin esports betting site you want to bet on, you need to create your account and deposit the currency. Registration at betting platforms is quite simple, and it will direct you to how to make the deposit. eSports betting site that accepts bitcoin offers a complete tutorial on successful deposits and withdrawals on the portal.
Once you register with your username on an eSports betting site, you can go to the instant deposits option available on the site. However, I would suggest you choose your favorite eSport for betting first like starcraft II, dota, rocket league, and other tournaments. Analyze the same for like 5-6 days, plan your strategy, and build that excitement. Once you are well aware of all the events in eSports, deposit BTC and you are good to go!
Betting Using BTC on eSports Matches
Once you click on modes for deposits, the regulated website will list you all the available modes to make your first deposit. Bitcoin is simply converted into fiat currency or chips that you can use to bet. Once the deposit is done, you must go back to the eSports games section and choose the one which assures great opportunity of winning like dota, global offensive or starcraft.
Oh wait! Do check out for a deposit bonus and welcome bonus before you start playing and betting.
If you are not one of the professional gamblers, make sure you go through the entire wager scheme as eSports are quite different from crypto games. Login with your account on the eSports game and place your BTC bet.
If you become a match winner, then first of all congratulations! Depending on the wagering requirement, you would have received the reward in terms of chips or fiat currency in your account already. Now, it is widely suggested that since you made your deposit in bitcoin, and you certainly win a game or tournament fairly, you must go and check the price of BTC against USD first.
In case, there is a remarkable price hike in BTC/USD, you must withdraw your Bitcoin from the eSports platform when the trading value is fluctuating in the green or bullish zone.
Why, if you ask? Well, over here it means that while you were betting on dota on an eSports site, the value of your Bitcoin increased too. Even with the hike of $2,000, you are already under a good profit. Well done player! Now, go to the withdrawal page and select BTC again. Enter your personal information on the page and link your crypto wallet details to the site.
Don’t worry, your data is safe at the websites and since you are withdrawing as BTC, your information is not traceable by any other third party financial institution even at the best eSports bitcoin betting portal.
How to Choose Bitcoin eSports and Market?
Look for Reputable eSports Bookies
One fact that you might not be aware of is the regulated bookie. When you pick the eSports event to place your bets, you look for ways to easily register with bookmakers. But that if the bookie is not regulated? You will end up losing all bitcoins on placing bets. Sportsbooks are easily accessible, however finding the right bookie and bookmakers can be a tricky job.
You must choose an officially regulated bookie who can offer a decent welcome bonus. If the welcome bonus is pretty good, chances are that you can place free bets. This is a sign of the best bitcoin eSports betting portals.
Be Patient When Doing Research
eSports betting is no less exciting than casino games. It offers various advantages to users who do eSports betting with bitcoin. However, choosing any random eSports website can be really risky just in a rush to get a bonus.
Do you wish to lose all bitcoins on some platform with a bad interface? Do you wish to lose bonus on handicap bets and bookmakers when you bet anonymously on league of legends or global offensive?
Of course every site will tell you that they are the best eSports platform, but whom to trust and rely on is the task.
And thus, it is recommended that you must research the entire platform and check out their policies, winnings, league, crypto acceptancy, exchange politics, bookmakers, odds, and so on.
Exploit eSports Bonuses
If you are on an eSports platform to just watch dota and legends, well you are missing out on a lot of things. Why not just watch traditional sports in that case! eSports platforms offer various ranges of bonus, especially when bitcoins are involved. Yes, of course your primary focus is the game and league, but what about that extra bonus which can eventually give you a free bet just like a casino?
And do not forget to scratch the bonus on deposits and withdrawals. No matter whatever game you have bet on before or whichever you choose next in future, if you do not exploit eSports bonus, you will regret every minute of your journey.
Types of Bitcoin eSports Bets
A tournament in eSports games is a combination of games and challenges. You can earn a deposit bonus on different legends and odds you place on entire tournaments. One of the bitcoin eSports bets is played on the entire tournament. Generally, a tournament winner is an individual who wins all the games and eventually the whole series. These outright bets are a known popularity in the industry.
Since a tournament is a combination of games, a game winner is an individual or team who wins a particular game. Game winners are not necessarily part of the entire tournament, but might only be playing odds for a specific game outcome like dota, starcraft, and league of legends. This is known to be one of the simplest bets in the traditional sports and eSports industry.
Accumulator bets are popularly known as combi-bets which lets you bet on the outcome of eSports events like league of legends. These bets can be used to wager a huge amount on eSports users. You must get all the predictions right in the eSports events with the help of book makers to get a truly phenomenal payout. This is a tricky bet.
In the world of gambling, ‘proposition’ or simple prop bets are about the occurrence or non-occurrence of an event in the eSports games. However, these bets do not directly affect the outcome of the entire game or tournament.
These bets seek to proposition a bettor with a series of questions: Will team A score XX points in next 15 minutes and so on. These bets really challenge the creativity of bookmakers.
Future of Online eSports Bitcoin Betting
eSports and cryptocurrencies are both forward-thinking industries in the world. It is one of the popular ways to engage with eSports betting sites online. Cryptocurrency company and exchange Coinbase is already sponsoring gaming lifestyle companies and popular eSports.
Many eSports teams have also begun offering fan tokens. Though betting with cryptocurrencies is relatively a young market, the influence of blockchain is pretty huge. Not only is bitcoin changing the trajectory of bookmakers, but will soon become the future of eSports betting.
Betting with Bitcoin is a tricky job, we have understood that by now. And thus, choosing the right platform for bet is a significant initial step. Promotion and bonus can be understood after you start betting with bitcoin exchange.
In conclusion, you must understand the basics initially and choose what type of eSports games you want to opt for. There are many widely popular options out there, but some of them might be restricted in your countries and some might be operating without a license. And do not want to mess with laws and bookmakers!
Some websites might not brief you about their taxes process, and some might just be widely unpopular. Follow all the instructions mentioned before to choose the most secure and genuine platform in comparison to others. So happy hunting and enjoy the best eSports wagering benefits ruled under proper jurisdiction of the country.
Are eSports Bitcoin Betting sites legal?
Yes they are! However, not all sites offer legitimate and legal sports betting solutions. When you register on any eSports betting website and look for bookmakers, you must read their policies and reviews to understand better about the platform. It is important to start fairly on legal platforms to win big prizes while betting on eSports.
What’s the best Bitcoin eSports betting site in your opinion?
GG Bet, for instance, is known as one the most trusted sites for bitcoin eSports betting with a 9.5 rating. However, there are various platforms that offer such listings. Before you pen down the best bitcoin eSports site, make sure you check out the reviews and ratings. After all, it’s your hard earned bitcoin, and you do not want to waste it on any random eSports games portal.
Are eSports Bitcoin Betting Winnings Taxable?
As mentioned earlier, since Bitcoin is not traceable at exchange and till the time it is in your crypto wallet, it is not taxable, which is a sure legal benefit for gamblers. However, policies to withdraw might differ for each licensed site. It is highly recommended that you go through policies and terms and conditions of the site you opt for. You are also assigned a manager by the best eSports sites when you login who will answer this for you.