Published on: 21/06/2021
Crypto Gambling: How Does It Work? Tips and Insights
Welcome to our guide to crypto gambling. We’re here to tell you what crypto gambling is and show you the best places to try some crypto betting and casino gaming. It’s never been easier to get the best out of crypto gambling.
Crypto gambling is big news at the moment. What started as a fairly niche activity has grown to become increasingly popular all over the world. But is crypto gambling legal? That’s just one of the questions that we’ll be answering in our guide. So take a look below to discover all you need to know about crypto gambling!
What is crypto gambling?
Crypto gambling is just like regular gambling except that you’ll be funding your bets with cryptocurrencies. This means that you could be betting on a sport like football after making a Bitcoin deposit. It could even make that you’ll be wagering on online roulette games with Ethereum payments.
Just because you are using cryptocurrencies to fund your bets doesn’t mean that the actual gambling activity should be any different. Instead, crypto gambling just describes a slightly different way of funding your bets when compared to using regular credit cards or ewallets. So if you’ve ever had the slightest experience of normal gambling, then you’ll quickly get to grips with crypto gambling.
How does crypto betting work?
Crypto betting is easy and you can do it on pretty much any sport you can think of. We’ve prepared a handy guide to crypto betting to get you started, but for now, we’ll walk you through the basics of crypto betting.
- Register your account at account at a crypto betting site
- Make a deposit with a cryptocurrency like BTC, ETH or LTC
- Browse the sportsbook for the betting odds you want
- Enter your betting stake from your crypto deposits
- Withdraw any winnings you made to your crypto wallet
It’s really that simple. The best thing is that crypto deposits and withdrawals tend to be much faster than most other payment options and you shouldn’t have to pay any fees either.
All about crypto casino sites
We think that it’s pretty simple to use a crypto casino. It follows a fairly similar procedure to if you use a regular online casino site. But just to get you started, here’s what you need to do.
- Create a user account at the crypto casino by entering your email
- Make a deposit from your crypto wallet in Bitcoin, Ether and so on
- Put down your stakes on your preferred slot or table game
- Make a withdrawal of any winnings you made back to your wallet
Obviously, you’ll need plenty of luck to make some winnings from your crypto gaming. But be sure to read our guide to the top 10 crypto casino games where you’ll get a great overview of some awesome slots and table games you can play with crypto deposits.
Is crypto gambling legal?
It depends which country you are resident in. After all, some countries like Australia have made online casino gaming illegal, whereas it’s perfectly fine to bet on sport. There can even be different online gambling laws within certain countries. For crypto gambling USA is a good example of this, as the state of New Jersey has legalised online casino gaming and sports betting, whereas states like Utah remain firmly opposed to all forms of gambling.
It’s worth noting that many countries have been slow to establish firm regulation over how cryptocurrencies are used to pay for goods and services online. As it stands, there’s something of a grey area for using cryptos, which means that as long as you stay safe, you should be perfectly fine in using cryptocurrencies to fund your online gambling.
Is cryptocurrency gambling safe?
Many people have enjoyed crypto gambling without any kind of problem. However, there might be a handful of crypto gamblers who’ve had some issues as a result of using the wrong kind of crypto gambling site. There are some rogue betting sites out there who will take your crypto deposits, take your bets and have no intention of paying out. As a result, we’d only recommend using those crypto gambling sites that have the following trust factors:
- Licensing: You should only use fully licensed and regulated crypto gambling sites. If you use a site that doesn’t have a legitimate online gambling license, then there’s no guarantee that you’ll get a safe and fair gambling experience.
- Encryption: We’d recommend looking at how the crypto gambling bookmaker or casino looks after your personal data. Unless it has SSL level encryption technology, we’d suggest giving it a miss.
- Reputation: It’s easy to see what crypto gambling Reddit users have to say about any online betting or gaming site. So do your research and see whether that crypto gambling site can be trusted.
- Customer support: If a crypto gambling site takes good care of its customers, then it’s going to be unlikely to rip them off. So look for a crypto casino or bookmaker who features friendly and professional customer support that’s available 24/7 on live chat, email, and telephone.
Which are the best sites for crypto gambling?
There are plenty of awesome crypto gambling sites out there. Here are just a handful of our favourite crypto casinos and bookmakers:
- com: Deposit with all top cryptos to play hundreds of slots and table games
- Unikrn: Bet on esports with your crypto deposit at Unikrn and enjoy the awesome casino too
- Arcanebet: Another quality esports betting site that takes crypto payments
- bet: Use BTC, LTC and ETH deposits to bet on sports and play casino games
- 22Bet: An amazing sportsbook and online casino that takes the biggest cryptos
- Pinnacle: Not only a top sportsbook but a contender for being the best crypto casino site too
How to fund your crypto gambling
Most decent crypto gambling sites will let you pick and choose the best crypto for 2021 to make deposits with. This means that you should simply be able to link up your crypto wallet with the crypto gambling site and add funds to your account. Creating a user account is pretty easy, as you’ll often be able to sign up with little more than an email address. However, it’s nice to get further security by providing the betting site with some more personal details.
The number of cryptocurrencies accepted by gambling sites can vary quite significantly. Some betting sites will only accept Bitcoin payments, other gambling operators may accept cryptos like Ethereum and Litecoin. We’ve even seen some sites that accept literally dozens of cryptocurrencies from Tether to Bitcoin Cash and everywhere in between.
Get started with your crypto gambling
By now you’ll see that crypto gambling is just like regular gambling but with the added advantage of making faster deposits and getting paid your winnings much more quickly. It’s worth noting that many people like using cryptos for gambling as it allows you to do things like stay anonymous and there’s no record of your betting on a bank statement. All of which suggests that crypto gambling is here to stay. So pick one of our recommended crypto gambling sites and see what you can win.