How to Start Betting Crypto: Full Crypto Sportsbook Guide for Beginners

Among many online betting trends, one word is appearing very often: crypto. Betting crypto used to be a niche for a small group of gamblers, but it has now become a mainstream option. Today, you’ll see more sportsbooks supporting Bitcoin or other betting coins right alongside traditional payment methods.

For beginners, betting crypto can feel overwhelming. How do you start? Where do you keep your coins? Is it safer or faster than bank cards? This crypto betting guide answers these questions, explains what a crypto sportsbook is, why many prefer it, and how to place your first bet.

What is a Crypto Sportsbook?

A crypto sportsbook is an online bookie that accepts cryptocurrencies - simple as that. Some of them are exclusively crypto-oriented, while some also accept “traditional” money like the US Dollar, Euro, etc. Crypto sportsbooks like BC.Game, Stake, and Cloudbet are centralized, with bets managed on servers, but they have integrated crypto payments.

On the other hand, a blockchain sportsbook like Dexsport or Housebets is built directly on blockchain, offering complete decentralization using Web3 technology. Betting crypto directly on the blockchain means increased transparency, instant payouts, and greater control over digital wallets and their assets.

Wagering crypto on these sportsbooks is similar to betting with traditional online bookies. You can bet on classic sports, virtual sports, and esports. Once you’ve placed a bet using crypto, you’ll receive your payout in the same coin if you win.

Cryptocurrencies Explained - The Basics of Betting Crypto

Cryptocurrency, also known as “crypto,” is an online digital currency that operates and exists on a blockchain. The digital assets are secured by cryptography, and that’s where the name comes from. Cryptocurrencies aren’t issued or controlled by governments or banks, making them traceable, transparent, and decentralized.

Betting coins can be used for both deposits and withdrawals on crypto sportsbooks. Players can connect their wallets to the betting site or fund their accounts through their crypto wallets. Some of the most popular betting coins include:

• Bitcoin
• Ethereum
• Tether
• USDC
• Litecoin
• Tron

Stablecoins for Betting Crypto

Since cryptos are not backed by banks or governments, their value can fluctuate drastically. If you aren’t a crypto investor and don’t worry about this aspect, you can choose stablecoins pegged to traditional currencies to get consistent value.

The most popular stablecoins are:

• Tether (USDT)
• USDC
• USDS
• DAI

Advantages of Betting Crypto Over Traditional Currencies

Betting crypto is more than just using digital coinsーit offers unique advantages, delivering a smoother and more dynamic betting experience. The best crypto sportsbooks keep up with the modern digital world, offering a fresh take on sports wagering. Here are the unique aspects of betting crypto.

• Lightning-Fast Transactions

Traditional payments can take days to complete, while crypto withdrawals and deposits take around 10 minutes on average. This provides you with quick access to your funds, enabling you to place a bet at a crucial moment and gain a competitive advantage. On the other hand, if you need your funds quickly, you can access them at any time—no need to plan ahead.

• Improved Privacy & Anonymity

Most crypto sportsbooks require an email and a wallet to start betting crypto. None of your personal or financial information is shared, nor can it be traced back to you. If you value discretion and utmost privacy, we recommend no-KYC platforms.

• Low Transaction Fees

A blockchain sportsbook enables low-cost cryptocurrency transfers, with fees as low as $0.10 per transaction. Most crypto sportsbooks don’t charge any extra fees, and many even cover blockchain fees. Cryptocurrency gambling allows you to maximize your earnings without worrying about the 2-5% fees associated with transactions in fiat currencies.

• Unlimited Access

Did you ever want to play at some online sportsbook only to find out it’s banned in your country? Don’t worry, crypto sportsbooks don’t work with local payment processors or banks, meaning they can be accessed from anywhere in the world. At the same time, cryptocurrency is largely unregulated in most countries, and these sites typically allow VPN usage.

• Security and Transparency

All blockchain transactions and bets are recorded on an immutable public ledger, allowing players to verify activity independently. Some of the platforms where betting crypto is allowed also use smart contracts that automatically carry out payments and settlements, reducing human errors or manipulation.

Things to do Before You Start Betting Crypto

Before you start betting crypto, you need to consider several aspects to ensure you have a smooth and enjoyable wagering experience. As part of our crypto betting guide, we’ve outlined the most critical steps you need to take:

Find a Reliable Crypto Sportsbook

Choosing a trustworthy crypto sportsbook takes time, but it’s vital for betting crypto without any issues. The most important aspects to consider include:

• Licensing and regulation
• Security, fairness, and transparency
• Available betting coins and payment terms
• Betting odds and markets
• Mobile experience
• Crypto gambling bonuses
• Customer support

All of this may be difficult to comprehend, but don’t worry - at Cryptobetting, you can find reviews of the top crypto bookmakers. We break down each of these aspects to help you understand what to expect. Take the time to read our objective reviews as they will help you start crypto wagering on the right foot.

Choose the Right Betting Crypto

Choosing the right betting crypto for your wagering needs is crucial because betting coins aren’t all the same. First of all, each crypto has its own value and market fluctuations. On the other hand, you can also opt for stablecoins if you prefer consistent value and lower risk.

Every crypto has these inherent characteristics you should check before picking one:

• Transaction speed: Cryptocurrencies like Solana, Tron, or Litecoin have almost instant transactions, while Bitcoin and Ethereum can take several minutes.

• Gas fees: Crowded networks like Ethereum can incur costly fees during network congestion, whereas Binance and Tron are generally very affordable.

• Transaction limits: Due to technological limitations, gas fees, protocols, and the crypto betting platform, the coin you use may have different transaction limits for both deposits and withdrawals.

• Acceptance: Always check if the betting coin you're considering is accepted at your preferred sportsbooks.

• Ease of use: Check how easy it is to exchange, store, and transfer the betting crypto you plan on using.

Find a Good Crypto Wallet

Begin by verifying if the wallet you intend to use is supported by your selected crypto sportsbook. Find out how to operate the wallet and whether it’s simple to make transactions. Some wallets are integrated into crypto sportsbooks, offering a smooth and easy wagering experience.

If you’re new to crypto, we suggest using an online (hot) wallet. They enable faster and easier transactions, which is especially useful when betting crypto regularly. Some of the top hot crypto wallets include MetaMask, Trust Wallet, Coinbase Wallet, and Exodus.

Steps for Betting With Crypto - Crypto Betting Guide

Betting crypto might look scary, but it’s actually relatively easy and more streamlined compared to traditional fiat currencies. Don’t worry, here are Cryptobetting’s detailed steps on how to bet crypto on your favorite sports.

1. How to Create a Crypto Wallet

Learning how to create a crypto wallet is the first step to crypto betting. Most wallets have a similar procedure, but we picked MetaMask because it’s one of the most popular options. Here’s what you need to do:

• Download and install MetaMask

Download the MetaMask app or browser extension from the official website. Select the appropriate mobile OS or browser, depending on your preference. Launch the app and tap install or simply add the extension to your browser.

• Create a MetaMask wallet

Start MetaMask and select the option for creating a new wallet. Follow the instructions, ensure you set a strong password, and activate security and recovery features. Once you’ve completed the process, your wallet will automatically open.

2. How to Buy Betting Crypto

After creating a wallet, you need to buy betting coins that are accepted by your crypto sportsbook:

• Access the “buy” feature

Locate the “buy feature in your MetaMask wallet, whether it’s the app or the extension.

• Add the purchase details

Select the payment method, region, the crypto you want to buy, and specify the purchase amount.

• Complete the crypto purchase

Use the “Get quotes” feature to see the prices from different exchanges. When ready, select the provider and complete the purchase on their site.

3. How to Register at a Crypto Sportsbook

Once you’ve set up a wallet and acquired some crypto, it’s time to register at your selected crypto sportsbook:

• Go to the site and select “Register” or “Sign up.”

Provide your email address, create a password, and enter any additional required information.

• Verify your account

You’ll probably be required to add a verification code. Go to your email and copy it.

4. How to Deposit Betting Crypto

Most betting sites have a similar deposit method when it comes to gambling cryptocurrencies:

• Access the “deposit” or “cashier” section

Log in to your account and tap on the deposit/cashier section, usually located at the top of the screen.

• Add the payment details

Select the coin you want to deposit and copy the provided QR code or wallet address.

• Make the deposit

Select the “send” option in your wallet and copy the QR code/sportsbook address, set the amount, and confirm the payment.

5. How to Start Betting With Crypto

Now that you’ve set everything up, it’s time to start betting crypto!

• Select the sport you want to bet on

Find your favorite sport and the events you want to bet on.

• Select the market

Find the type of bet you want to make and add them all to your bet slip.

• Confirm the bet

Double-check your bet slip, enter your stake, and confirm the bet.

Common Mistakes to Avoid When Betting Crypto

A bet guide wouldn’t be complete without warning you about potential mistakes you might make while betting. For beginners, we recommend avoiding these common errors:

• Chasing losses: Losing is a standard part of betting, so learn to take your losses and avoid placing consecutive bets hoping to get your losses back quickly.

• Placing too many bets: When it comes to crypto casinos or betting, more is usually less — stick to the markets and sports you know, and take the time to do your research when stepping out of your comfort zone.

• Sticking to just one sportsbook: Always shop around and check out what other bookies are offering, whether it’s new bonuses, odds, markets, or transaction limits.

• Betting over your budget: Practice through bankroll management and don’t bet with money you can’t afford to lose.

• Betting on your favorite teams: Keep your emotions in check and look to make rational wagering decisions, as your love for a team or individual can cloud your judgment.

Betting Crypto Safely and Successfully: Tips for Beginners

To finish off our bet guide, we offer some valuable tips you can use as a beginner to jumpstart your crypto wagering journey.

Understand the Betting Markets

Always bet crypto on markets you understand. Yes, you might find boosted odds on some markets or picks, but you shouldn’t bet on them unless you know what they’re all about. Misunderstanding markets leads to increased risks, wrong expectations, and poor betting strategies.

Make Use of the Betting Bonuses

Always check out the bonus page on your blockchain sportsbook to find the latest promotions. Use the most valuable bonuses to your advantage to reduce risks, cut your losses, and extend your betting credit. But take the time to read about how these bonuses work so you can make the most of them.

Don’t Forget About Blockchain Fees

Cryptos are very convenient, and players love the low transaction fees with this betting method. However, don’t get carried away and think that there are no fees at all. Be strategic about your deposits and withdrawals, and always consider the fees to maximize your balance.

Start Betting Small

If you’re new to crypto betting or sports betting in general, start slow. Place one bet at a time and learn more about the odds, markets, events, bonuses, and crypto advantages. Be patient and strategic in your approach, and you can guarantee it will pay off in the long run.

Read the T&Cs on the Crypto Sportsbook

Sports bettors often overlook the terms and conditions (T&Cs), and this can sometimes result in costly consequences. First of all, T&Cs contain valuable information about betting rules, bonuses, security, and the opportunities you can use at a betting site. They should be taken seriously and treated with respect.

Practice Responsible Gambling

Responsible gambling is the staple of online betting, and all crypto bookies have valuable tools you can use to your advantage. It’s up to you to bet responsibly and use all the features at your disposal. If you want to learn more about responsible gaming, check out our page for valuable advice and resources.

Conclusion

Starting your crypto wagering journey doesn’t have to be difficultーjust take it step by step. From finding the right bookie to setting up your wallet and placing your first bet, our bet guide has all the essentials you need to start wagering crypto. Always stay informed and learn about cryptocurrency and betting sites to stay ahead in your journey.

Excited to start betting crypto? Explore Cryptobetting’s top bookies and reviews to help you make your first bet with confidence.