Sportsbooks rake in billions of dollars annually, as millions of players show up to bet money on desired outcomes. Over the past couple of years, sportsbooks have become even more exciting, particularly for Americans, as Bitcoin has been adopted by many of the leading sportsbooks that still accept USA players.
Having Bitcoin as a deposit option has solved a huge problem for US players who have to deal with constant credit card declines or cashing oversees checks when they collect a payout. Bitcoin solves all of these problems and is a Godsend for millions of avid bettors by offering players instant deposits and payouts, anonymity, and a host of other benefits that make it a no brainer for any player living in the United States.
New For 2020: PayPal finally allows users to buy Bitcoin right inside the PayPal app itself. At launch, outgoing trades are not available, so this isn't the best option for sports bettors to buy BTC at the moment. But as soon as those restrictions are lifted, PayPal Bitcoin transfers could be the easiest way to fund your betting account with crypto!
Best USA Online Sportsbooks
Accepting Bitcoin Deposits
Nearly every reputable online sportsbook started accepting Bitcoins as of 2017. The following sites are all leaders in the US sports betting industry and are considered the most reputable sites. Selecting any random site you find in a Google search just because they accept BTC will put you and your finances at risk. We strongly urge you to stick with the big names in the industry such as the ones we recommend below.
Why Bitcoin Is A Huge Hit With USA Players
This being a site focused on USA-based sportsbooks, we want to speak a little bit about the benefits Bitcoin provides to USA players. Players in America have been through the wringer with gambling. After the UIGEA in 2006, a good portion of US-friendly gambling sites made the decision to stop accepting players from the United States. And for those sites that remained, finding a reliable way to deposit for USA players was easier said than done because the UIGEA prohibits banks from knowingly processing any transactions that are related to gambling.
Now, with the advent of Bitcoin cryptocurrency, there are more and more USA friendly sportsbooks becoming available to players. The primary reason is that government doesn't have anything to do with Bitcoin and has no way to regulate it.
The number-one reason cited for shutting down online gambling in the USA was initially banking-based; i.e. the government didn't want Americans sending their money out there and receiving money from different financial services out of their control. But now that we have Bitcoin, the government's hands are tied, and many online sportsbooks know it. So they can let Americans play without having to worry about their revenue taking a hit if the proverbial rug is yanked out.
What Is Bitcoin?
Bitcoin is a type of peer-to-peer digital currency that is operated wholly independently of banks and other regulatory authorities, and government has no say-so in how Bitcoins are distributed or valued, therefore government cannot do as they typically do by debasing and devaluing currency with excess bills in print, which inevitably leads to inflation and a failing currency.
Bitcoin is based solely on the principle of supply and demand, and there will be a finite number of these coins printed, thereafter relying on fractions (bits) of a coin to be worth anything. This system is ultimately superior in many ways juxtaposed against government-controlled currency, and it's especially beneficial for gamblers, specifically USA-based gamblers.
Benefits Of Using Bitcoin For Your Sportsbook Deposits
Here are just a few of the many benefits Americans can experience by going with a Bitcoin sportsbook and using their BTC wallet to fund their account. Bitcoin is so unique and innovative that there's really nothing else like it on the planet.
Never before has a digital currency been simply created via the Internet, and few people, if any, could have predicted that people would ever have a currency that was independent of all big-government and big-bank involvement. Some of the benefits of gambling with Bitcoin include:
- Deposits and withdrawals happen more or less instantly. There's no waiting around for approval; as soon as you allocate an amount to either put into your sportsbook or withdraw from it, you will receive these funds instantly.
- Works 100% of the time. Using CC methods are hit-or-miss for Americans, with those misses showing up a lot more lately. Bitcoin is guaranteed to work.
- Your winnings are likely to appreciate with Bitcoin. For instance, let's say you've won the equivalent of $300 in Bitcoins over the course of a few months. With the price of Bitcoin on the market, this $300 could realistically double within a year.
- Sportsbooks that offer Bitcoin as an option are almost always willing to accept US-based players.
- Sportsbook offering Bitcoin support are also more willing to offer more options to get more people interested. Offering the Bitcoin option isn't enough, as there's a lot of market parity and a few offering the same option. So, to separate themselves from the pack, a sportsbook may be willing to add bigger bonuses, a different niche sport, a live betting section, etc., just to entice you to action.
- It doesn't cost you anything, or at least much of anything, to complete the transactions. By and large, you will not find any fees involved with using Bitcoin beyond the in-built blockchain fees, and sportsbooks aren't going to charge you special inflated rates just for using it.
- All payments made with Bitcoin are irreversible. With so many other payment methods, the person/company on the other end could, if they wanted, cancel the transaction and reverse the payment. This sort of thing is not possible with Bitcoin, as all payments are final and irreversible.
- Unlike paper currency or any currency relying on government, Bitcoin is not subject to inflation. Of course, it's technically not impossible that inflation could hit the Bitcoin market, but it is extremely unlikely – like billions-to-one unlikely.
- Governments fail. Just because you live in the first world and have access to the Internet in no way means that everything couldn't just suddenly collapse on you. Just look at Greece, a former first-world nation now in second-world status, relying on the rest of the planet to prop it up. When governments fail, currencies fail; Bitcoin cannot be influenced by these same factors.
- Handling Bitcoin is incredibly easy. All you need is a digital BTC wallet with a unique ID, and you can store as much currency as you want, and it's all instantly accessible whenever you need it.
- Since Bitcoin has no affiliation with any government or any bank, it is completely anonymous and untraceable. This means you're not going to fall under any sort of government protections, but it also means that you're not going to be traced or tracked by anyone, including the IRS.
- The likelihood that Bitcoin is ever hacked into and your BTC wallet is tampered with is less likely than someone pulling off a casino heist in Vegas without setting off any alarms. Bitcoin is insanely secure, and the sun will probably supernova before anyone figures out how to hack it.
Depositing With Bitcoin Via PayPal – Coming Soon!
Now, you finally have the option to purchase Bitcoin using PayPal. In October 2020, PayPal formally announced its intention to allow users to employ the world's most popular P2P instant-pay service to buy Bitcoin and other cryptocurrencies (Litecoin, Ethereum, Bitcoin Cash, etc.).
This is a major watershed moment for Bitcoin and crypto, but it could also be a revolutionary boost for the legal online sports betting industry. While you can't currently send your PayPal-purchased Bitcoin to any outgoing address, once that limitation is lifted, you will be able to buy and trade Bitcoin using PayPal.
This would eliminate several huge barriers to entry in one fell swoop. Depending on PayPal's BTC sending policies once external transactions are allowed, you may even be able to directly deposit your Bitcoin into your legal overseas betting site in just minutes.
This should be the most exciting development for online gambling accessibility since these sites originally started accepting Bitcoin itself, and it could lead to lead to hundreds of thousands – if not millions – of new members at your favorite Internet betting sites. And that, of course, means better odds for everyone!
Are Bitcoin Sportsbooks Different than Ordinary Sportsbooks?
Being a Bitcoin-specific page about sportsbooks, you may be expecting that there's some inherent difference in the type of sportsbook that would offer Bitcoin as an option vs. the type of sportsbook to not offer it. The fact is that there's not really a difference in these sportsbooks at all, save what type of payment options they're offering.
Typically, sportsbooks offering Bitcoin as an option are a little more forward-thinking, which usually means that they're offering a fresher vibe and atmosphere than other sportsbooks.
So you might expect to find a few newer or niche sports, and perhaps a couple of extra live options and suchlike, but there's really nothing much different separating a Bitcoin sportsbook from a traditional book. The Bitcoin book has just decided that it will be in the company's best interest to tap into this market for business purposes. And they're right!
Let USASportsbookSites.com Find a Bitcoin Site for You!
Finding a sportsbook on which to play can be a complicated matter. Not because you cannot find any online, of course, but rather that you never know how legitimate a sportsbook is from simply viewing their site.
Obviously every company claims to be the best, and a low-rent, bottom-shelf sportsbook isn't going to tell you that they exist as such; they're going to tell you they're the best in the business.
This is why a recommendation from our team of experts here at USA Sportsbook Sites goes a long way. Instead of you having to run around and complete a bunch of research on these different sites, we do the work for you and pass along our recommendations.
We're not simply looking for sites that offer Bitcoin as an option. Although that's our starting point for Bitcoin sportsbooks, we're looking well beyond their banking options to size up the quality of the sites. Some of the things we're looking for include:
- Reputation - Do existing players have good things to say about the site
- Must implement the latest in security software and protocols
- Must offer a wide range of betting options to players
- 24/7 support
If there are Bitcoin sportsbooks out there matching these criteria, we will review them and recommend them to you. You won't have to do any of the legwork; you can simply follow our lead and play at a quality site.
We guarantee all of the sites we recommend meet the above criteria in more ways than one. We truly do work very hard to recommend only the most reputable Bitcoin sports betting sites to our visitors.
Bitcoin Helpful Resources
Official Bitcoin Website - If you want to learn more about how Bitcoin works, visit their official site.
Coinbase - Coinbase is the most popular online wallet service that offers easy ways to both buy and sell bitcoins. It also acts as one of the safest places to store your bitcoins.