Using bitcoin to bet is not a novel trend in online gambling! It allows you to keep your bets anonymous and non-trackable. If you get unnerved about revealing your personal information, this might be a decent alternative.
Using bitcoin also allows you to bypass many irrational country restrictions! So, is there is a specific sportsbook or casino that does not function in your country? Ignore it lawfully when using advanced currencies of the digital universe!
Yes, not gaming establishments accept novel currencies. Yet, reputable alternatives to traditional casinos do not discriminate against cryptocurrency havers. For instance, N1 casino Sports allows gambling adepts to use not only bitcoins! Ethereum, Dogecoins, and other digital resources will do equally well. Now, to the guide!
Step #1 – Get yourself a wallet
First and foremost, your stash needs to be in a wallet. Think of this as an alternative to your conventional bank account. Yet, keep in mind that not all wallets are equal! Some wallets tend to be safer, more reliable, and easier to use. Some of them have a more complex form. There are three types of wallets:
- Online ones;
- Software wallets;
- Hardware (offline) wallets.
For those who have yet to learn the features of the financial rules of the new era, an online wallet will suffice. Software wallets are another trouble-free option. Hardware wallets are for advanced cryptocurrency havers who want ultimate protection. For gambling, a hardware option is superfluous.
A wallet can be as simple as an app on your phone or a separate piece of hardware that you keep with you at all times. You can even manage many wallets through a single online account if you want ubiquitous convenience with your accounts.
Step #2 – Choose Your Best Sportsbook or Casino
The first thing to do when you have your wallet set up is to head on over to a sportsbook or casino and pick an option that suits you. It is worth noting that some sportsbooks use both bitcoin and regular currencies. If you are not sure if they will accept your currency, then check out their FAQ section or find a list of currencies they allow.
It is also worth checking the available sports and casino games before you do anything else. If you are looking for a particular game then it is usually best to play at the casino or sportsbook that offers it transparently. To be ultimately certain your choice will not cause trouble, read:
- Official documents of a casino;
- Descriptions to every game (should be full and mention components like RTP);
- Contact information (support should be online 24/7);
- Feedback about a casino or a sportsbook.
Step #3 – Make Your First Deposit
Once you have found your ideal sportsbook or casino then it is high time to make your first deposit. There are usually two options available. The first is an option that will require you to confirm your entire account with personal information. You might want to skip this if anonymity is significant to you. The second is a bitcoin address, which is what you want to attain guaranteed anonymity and constant convenience.
Step #4 – Start Playing
Enjoy every game you like, bet on whatever team you adore, have fun, and so on. Yet, remember that all losses and wins are your responsibility. And never underestimate the significance of independent research and foreseeing. Luck and fortune do not help casino connoisseurs. Vice versa, adepts of gambling never rely on the wits of Fortuna. Instead, they use analytical skills. That all somewhat makes enjoying casinos quite an energy-consuming, even laborious hobby.
Step #5 – Withdraw Your Winnings
Once you have won a bet or a round of slots, you might be wondering how easy it is to withdraw your winnings from the bitcoin sportsbook or casino. While some take a little bit longer, most will usually pay out momentarily or in a minute. Be attentive to situations when your winnings come from a no-deposit bonus or other promotion! Then there might be certain restrictions in place for withdrawing them.
Those looking to withdraw their winnings will want to use the same wallet address as they did when depositing. Some sportsbooks and casinos will take a little while to process the withdrawal. Yet again, most will do it in a short period.
In the End
Banking with Bitcoin is a trend proven to be the most convenient one for gambling. There is zero need to make this process more complex. Having an online cryptocurrency wallet and using it as a preferred one is as simple as it is. So, may luck be on your side when you start gambling with crypto!