Betting With Bitcoin In The US: All You Need To Know

Betting With Bitcoin In The US: All You Need To Know

Everyone is well aware of Bitcoin these days. Bitcoin is an innovative digital payment method, carryout over a peer-to-peer network. This cryptocurrency is a boom in the industry as it created a number of millionaires. Indeed, many businesses and services are now accepting Bitcoin as a method of payment. The online gambling world is certainly one industry that is adopting it. A number of casinos are now accepting Bitcoin. Here at Gambler Saloon, you’ll find complete information on betting with Bitcoin

As the payment method continues to slip into the mainstream, that number will continue to rise. Below we tackle some of the biggest questions associated with Bitcoin betting.

Betting With Bitcoin

There are a number of reasons why betting with Bitcoin is worthwhile, ahead of the usual methods of payment. Most notably is security.

It has the potential to be more secure than any other payment option. Certainly, as simple and quick as the likes of e-Wallets. That’s because you can deposit and withdraw completely anonymously, without the need to connect your bank details to your betting account.

Bitcoin offers a secure, encrypted connection that will comfortably become the norm for punters as its benefits continue to grow.

Interestingly, the more people who trade with Bitcoin in online sportsbooks or casinos, the fewer overheads a site is going to have. In fact, it encourages more offers and perks from them as they’ll need to pay out less money.

Which Sportsbooks & Casinos Accept Bitcoin?

At the present time, the number of casinos and sportsbooks accepting Bitcoin in the USA is quite narrow. However, we can expect that over the next 12 months a number of them will begin accepting it. 

The reason is simple. The US federal government doesn’t regulate it as a form of currency. Until that changes, cryptocurrency will remain on the sidelines, at least when it comes to licensed NJ betting sites and legal NJ online casinos.

Some of the USA’s top sportsbooks and casinos are always trying to get ahead of the game. Such as Caesars and Harrah’s having a wide range of different deposit and withdrawal methods. Therefore, it makes sense that Bitcoin should be just around the corner!

If you’re looking for some of the more progressive casinos to play at, check out our Casino Reviews, where we also highlight all the payment methods currently available.

Depositing & Withdrawing With Bitcoin

Payment is relatively easy with Bitcoin for sportsbooks and casinos. In fact, it can be done in a number of different ways.

The most common way is through the Cloud, which operates in a similar way to PayPal and other e-Wallets. However, in order to do this, you’ll also need to use Bitcoin transfer services in order to connect with your betting site. In other words, the site must also accept connections with Bitcoin transfer services in order to bet with Bitcoin.

The likes of Blockchain and Sparecoins are the most commonly accepted. Additionally, you can also pay via Bitcoin through your hard drive.

Safety & Security Betting With Bitcoin

Bitcoin is one of the most secure methods of payment of all available in online casinos. It’s certainly safer than the likes of bank transfers as it operates using a peer-to-peer transfer system and therefore requires no connection to your bank account.

Certainly, it uses an encrypted connection when transferring to your betting account. Therefore, the risk of being hacked is significantly reduced and gives real peace of mind to punters.