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What is Bitcoin eSports Betting?
If you are someone who has made sports and eSports bets previously, then you will probably know a little about how betting with fiat currencies works and the benefits – and restrictions, that come with it.
However, eSports betting and cryptocurrency betting are two new and upcoming industries that work together perfectly in a virtual world, making them perfect bedfellows – as long as you choose the right crypto esports betting site and understand exactly how it works.
What to Consider When Choosing Your Bitcoin eSports Betting Site
Above, we have provided you with those sites that we think are the cream of the crop when it comes to eSports betting, but you need to choose which one you think is the best for you. Here are the main things you should consider:
It’s worth being aware that not all good eSports crypto betting sites accept players from all different countries. So, you need to check whether or not you can legally play on that specific Bitcoin eSports betting site. There are some that will require verification and others that have geo-location software, so you won’t be able to anyway.
If you do find yourself playing at a casino from a country on its prohibited list and you are found out then you may have your account closed automatically and lose your money.
The Reputation of the Casino
Because crypto casinos and Bitcoin esports betting sites aren’t as strictly regulated, you need to make sure that you are playing at a trusted site with a solid reputation – such as those we recommend.
If you play on a Bitcoin eSports betting site without an established reputation, we would recommend not spending large sums of money.
Selection of eSports Available
If you simply prefer the major eSports to bet on, then most Bitcoin esports betting sites will suffice. If you prefer some of the more niche or specialized esports then you will want to choose a site that has a diverse selection to choose from.
You will also want a site that is flexible with its selection and has the ability to diversify further as and when new eSports hit the market.
Bonuses, Promotions and Loyalty Rewards
If you are someone that likes to return to the same Bitcoin eSports betting site to make bets, then you want to make sure that the operator rewards you for doing so. If you visit occasionally, then you will at least want to see a good selection of reload bonuses and offers, but if you come back a lot and spend a lot of money, then you need to look out for a solid VIP rewards program or a loyalty reward scheme.
Fast and Safe Withdrawals
Bitcoin is popular because it offers super fast transaction speeds. So, when you choose a Bitcoin eSports betting site, you need to ensure that it offers fast payouts.
The best casinos will offer practically instant transactions (usually end-to-end crypto sites), whereas some sites still take time to process them first and it can take a few days. Ideally, you will want one that processes your withdrawals automatically, in which case it should take no longer than an hour or two.
Also, if you’re a high roller, look for high withdrawal limits as this might be particularly important to you.
We would also suggest you look at the availability of the customer service team. No matter how good a site is, if you play a lot an issue will probably arise at some point. You need to be confident that your site will handle it swiftly, professionally, and efficiently.
Bitcoin eSports Betting vs Fiat Currency eSports Betting
Whether betting with Bitcoin or fiat currency, eSports betting is one of the newer betting trends in the industry. But what is best? Here is a look at the advantages and disadvantages of Bitcoin eSports betting compared to traditional fiat currency eSports betting.
Bitcoin Betting Offers More Privacy
Most end-to-end Bitcoin eSports betting sites will offer you complete anonymity and privacy because of the use of crypto.
This means that all of your online eSports gambling activity will not be visible to your bank, governments, or any credit rating agency – or any other interested parties that may have access to bank or financial statements.
This means you have more freedom to do exactly what you want with your own money without worrying about any repercussions.
Lower Transaction Fees
Many traditional fiat eSports betting sites will have to use third-party payment processors and go through all KYC protocols, which can lead to all sorts of depositing and withdrawal fees.
This is another way in which Bitcoin eSports betting has an advantage. Bitcoin and other cryptocurrency transactions often save you a lot of money in fees compared to fiat options. Studies have confirmed that making a Bitcoin or crypto transaction can cost as much as 90% less than making a traditional bank transfer.
A Global Payment Method
Making bets and online gambling is strictly regulated. In order to be able to provide an online eSports betting service, an operator will need to be licensed for the different jurisdictions in which they operate. This means they will need to pay fees and taxes and report to each locality.
If you are based outside of its licensing, a traditional betting site will block you based on where your bank transfer or bank payment is coming from – or your IP address.
Many cryptocurrencies aren’t encumbered by these same restrictions. They can operate anonymously and accept players from across the globe.
It is worth noting that if you do play from a restricted country, they may withhold your winnings and you would have no recourse. As such, we would recommend only playing on a site that accepts players from your country.
Bigger and Better Bonuses and Promotions
Most of the best Bitcoin eSports betting sites offer even bigger, better, and more frequent bonuses and promotions than the standard traditional eSports betting site.
This is because Bitcoin and cryptocurrency transactions are cheaper for everyone – players and betting sites. This means the site has to spend less on transaction fees etc than traditional sites. They can then pass on some of these savings to players by the way of more bonus offers and rewards.
However, that’s not to say that there aren’t certain disadvantages attached to Bitcoin eSports betting:
A disadvantage of Bitcoin betting is the lack of chargebacks or transaction reversals. When you play at a traditional eSports betting site, you can request a chargeback from your bank or financial institution if you think the site hasn’t played fair. This can’t be done with cryptocurrency payments.
Because all transactions are permanent and irreversible as soon as you press confirm, it means that there is no way you can get it back. As such, it is essential that you make sure you choose a licensed and trustworthy BTC eSports betting site such as those we recommend.
If you know anything about Bitcoin and other cryptocurrencies, you will know how volatile they can be. So, if you wager $5,000 worth and win $1,000, it may be that the value drops and, despite winning, you only end up with $4,000 worth of Bitcoin.
Unfortunately, no matter how good the eSports betting site is, this is simply unavoidable. However, it goes up as well as down so, if you are in no rush to exchange your BTC back to fiat currency, you can wait for the value to rise again. In the future, it could be worth a lot more.
The Different Types of eSports to Bet on:
If you are interested in betting on eSports, then the best Bitcoin betting sites should offer an excellent selection of games to bet on, including:
- League of Legends (LoL): This is a multiplayer online battle arena (MOBA) game where players control a champion and battle against a team of other players.
- Counter-Strike: Global Offensive (CS:GO): One of the most popular games, it is a first-person shooter (FPS) game where players compete in teams to complete objectives or eliminate the other team – terrorists v counter-terrorists to detonate or stop a bomb.
- Dota 2: Another MOBA game where players control heroes and fight against a team of other players.
- Overwatch: This is a team-based FPS game where players select heroes with unique abilities to compete against each other for ultimate victory.
- Call of Duty (COD): This is a hugely popular FPS game that includes both single-player and multiplayer modes, with various game modes including deathmatch and objective-based modes.
- FIFA: A globally popular football computer game where you can control your favorite teams and players in various tournaments and leagues.
- NBA 2K: Another sports-based game based on basketball, where you can create your own team and compete in various leagues and tournaments.
- Rocket League: A unique type of game that combines football and driving, where you try to control rocket-powered cars and score goals.
- Hearthstone: This is a digital collectible card game where your job is to build decks and compete against other players.
- Starcraft 2: Another popular game, this is a real-time strategy game where you need to command units and build structures to defeat your opponents.
These are just a few examples of the many different esports that you can bet on at the best Bitcoin eSports betting sites. But, because the esports industry is constantly growing and evolving, there will no doubt be new games that you can bet on being launched in the future.
The Main eSport Tournaments to Bet on Using Bitcoin
When you open up a new account at a Bitcoin eSports betting site you should expect to find betting markets on the main n tournaments. Some of those to look out for include:
- The International: This is the biggest tournament for Dota 2, with a prize pool that has reached over $40 million in the past. It takes place every year and attracts the best teams and players from all over the world.
- League of Legends World Championship: This tournament is the biggest event for League of Legends, with world-famous teams competing for the championship title. It also pays pretty big as well – and the prize pool for this tournament has also reached over $6 million.
- CS:GO Major Championships: These are the biggest tournaments for Counter-Strike: Global Offensive players and fans, featuring renowned teams from across the globe all fighting it out for a dive into the prize pool which can reach up to $1 million and more.
- Overwatch League: This is a professional league for the Overwatch eSport and involves teams and players from various cities around the world. It is not one single competition and, as a league, it runs throughout the year, with the Grand Finals offering a pretty sizable prize pool.
- Fortnite World Cup: This is a tournament that features the global phenomenon Fortnite, with players competing for a massive winning prize. It takes on both a solo and duo format, with the qualifiers being held in various regions worldwide.
- Call of Duty World League: This is a professional Call of Duty league which brings together all the very best players and teams. Again, as a league, it runs throughout the year, ending with one team winning the Championship and enjoying a pretty tasty prize.
- Rainbow Six Siege Pro League: This is the professional league for Rainbow Six Siege players, fans, and bettors the year-round competition comes to a head with the Finals which can be very profitable for the winners.
These are just some of the tournaments that can pay out big – for players and bettors. The very best sites will offer these and many more!
How to Deposit and Withdraw Using Bitcoin
Because transactions are irreversible, you need to make sure that you deposit and withdraw your funds carefully. If you haven’t done it before, then it is essential to understand exactly what you need to do:
- Research the different Bitcoin and cryptocurrency exchanges – as this is where you will need to purchase your BTC. Before buying anything or spending any money, make sure you look at the different options to choose the right one for you to use. Don’t buy anything yet until you have completed the next step:
- Download and set up your cryptocurrency wallet. Your Bitcoin wallet is where you will store your purchased Bitcoin. As such, it is essential you choose a safe, trusted, and convenient one. When downloading and setting up your wallet, make sure you follow the directions exactly and never lose any authorization codes. Popular options include Copay, Exodus, and Jaxx.
- That’s it – you have a Bitcoin wallet. Head back over to your chosen Bitcoin exchange and register a new account. You will then need to link your BTC wallet to your exchange account (which will require you to enter your wallet address) – so make sure it is exact.
In order to buy, deposit, and withdraw Bitcoin, you will need to provide your details and authorization credentials to confirm your identity. This may involve providing your BTC wallet hash code.
In addition, because most Bitcoin exchanges and cryptocurrency wallets are highly secure, you may be required to follow a series of different steps before you are allowed to make a transaction. What steps you need to follow will depend on your chosen exchange and wallet.
So, once this is done and you have set up your Bitcoin wallet and exchange account, you will have everything you need to get started placing your eSports bets using Bitcoin!
How to Get Started with Bitcoin eSports Betting
Betting on eSports with Bitcoin and other cryptocurrencies are steadily rising in popularity – and quite rightly so. Watching the best players in the world show off their skills can be every bit as fun and exciting as playing the game yourself, especially if you have a bet riding on the outcome… with the volatility of cryptocurrency adding even more to the risk and reward aspect.
So, if you do want to get in on the action, it’s well worth getting started now, as the industry is still in its growth phase – and you’ll have more experience than those who are sure to follow.
In order to get started, you will need some Bitcoin as we looked at above.
Once this is done, your Bitcoin eSports betting journey can begin:
- Choose one of our recommended Bitcoin eSports betting sites and click on the link over.
- Open a new account as per instructions.
- Click on deposit, choose Bitcoin, and copy the betting site’s Bitcoin wallet address.
- Open your Bitcoin wallet, click on send, enter how much you want to deposit, paste the betting site’s Bitcoin wallet address and press ‘Confirm’.
- Claim your bonus.
- Look through the different eSports betting markets and place your bet.
- Wait for the result and, if you’re lucky, withdraw your winnings!
Other Cryptocurrencies You Can Use for eSports Betting
So hopefully, now you know a lot about eSports betting and how to place your eSports bets with Bitcoin. As time goes on, you may wish to diversify and consider placing your bets with other cryptocurrencies – which many of our top Bitcoin eSports betting sites allow. Especially now coins such as Ethereum and Bitcoin Cash etc are becoming more popular.
Although most people still stick to Bitcoin betting, there are plenty of others you may wish to bet with including:
- Bitcoin Cash
- Tether and more…
It’s always good to look at different cryptos to give you more options and help you to diversify your crypto portfolio.
The Top Bitcoin eSports Betting Bonuses
One of the major factors that can enhance your eSports Bitcoin betting experience is the quality and quantity of the bonuses and promotions on offer.
Here are some to look out for at our recommended Bitcoin eSports betting sites:
The very best Bitcoin eSports betting sites will offer new and existing players free bets bonuses. This is a very common welcome bonus given to players who open a new account. It could be, for example, deposit $50 or more and receive $20 in free bets that you can use on eSports betting.
With a free bet offer, if you win, you will be able to withdraw your winnings but not the free bet. Always check the terms and conditions to see the eligible bet requirements and if there are any wagering requirements attached.
Match Deposit Bonuses
Lots of eSports betting sites will also offer match deposit bonuses – another popular welcome bonus offer. In this instance, the betting site will match your deposit with bonus funds.
So, for example, a Bitcoin eSports betting site might offer a 300% deposit bonus up to 5 BTC when you make a qualifying deposit of 100 mBTC or more. So, if your first deposit is 100 mBTC you will receive 300 mBTC in bonus money. If you deposit 1 BTC, then you would receive 3 BTC in bonus funds.
However, remember to check the terms and conditions such as wagering requirements, which often sit at around 40x. The lower the better.
This is an excellent type of bonus which is great, especially if you are hitting a bit of a losing streak. Some Bitcoin eSports betting sites will offer cashback up to a certain percentage (usually between 10% to 20%) on any eSports betting losses.
The losses usually have to occur within a set period of time and the money you receive will be calculated by your net losses. Cashback bonuses often don’t come with wagering requirements.
VIP Rewards Programs
If you’re a high-roller, then you will want to pick a site that has a good VIP rewards program or loyalty rewards program. The more you bet on eSports, the more points you will earn, and the higher up the rewards program you will climb.
The higher you get, the better the rewards and you can even enjoy other perks such as personal account managers, exclusive bonuses, event invitations, and higher betting and withdrawal limits.
If you love watching eSports and betting on eSports and you are interested in cryptocurrencies such as Bitcoin, then this is certainly something you might want to try out.
Although Bitcoin betting is still gaining momentum and is still less regulated than traditional eSports betting sites, there are so many advantages to betting with BTC… as long as you make sure you choose a safe and trusted site. Betting with Bitcoin gives you greater anonymity and more freedom, there are lower fees, your withdrawals are processed and completed much more quickly – and you can often enjoy even bigger and better bonuses.
Obviously, you need to be careful. Bitcoin transactions aren’t reversible and currencies can be highly volatile, but as long as you mitigate those risks by choosing the right site for you and only betting with money you can afford to lose, then it can be fun and exciting!
So, check out our recommended Bitcoin eSports betting sites, make a deposit, claim your bonus, and start betting!
Are Bitcoin eSports Betting Sites Legal?
Yes. It is completely legal to bet on eSports with Bitcoin. As long as you live in a country where eSports betting is legal and Bitcoin betting is legal then it is perfectly acceptable. We would recommend that you check with your regional laws to ensure that it is legal where you live.
What are the Pros and Cons of Betting on eSports with Bitcoin?
The pros of betting with Bitcoin are:
- Faster transactions
- Lower transaction fees
- Anonymity and privacy
However, there are some disadvantages – you need to double check your wallet address and be sure you are sending it to the correct place because transactions can’t be reversed. Also, because BTC is volatile, its value might decrease suddenly. As long as you understand this, the pros outweigh the cons.
What is the Best Bitcoin eSports Betting Site?
We have provided you with a list of the very best Bitcoin eSports betting sites. The best one for you depends on your preferences and where you live. It needs to accept players from your country, offer the markets you are looking for, have plenty of good bonuses and promotions, and provide you with the service you are looking for.
What is the Difference Between Bitcoin and Traditional eSports Betting?
Although the essence is the same, there are several differences, mainly the cost and speed of the transactions. Making your bets and withdrawing your money is cheaper and quicker than with traditional currencies and you can play anonymously as well.
Who's Behind CryptoCasinos?
Oskar, our esteemed crypto enthusiast turned writer, has been weaving his love for casinos into captivating content since 2018. His deep-rooted knowledge and unique perspective have made him a trusted authority on crypto casino reviews among our readership.
Last updated 27 September, 2023
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