Bitcoin Casino & Betting Sites

We are positive that you have all heard of bitcoin, even in passing. It is that cryptocurrency that seems to be gaining even more value each day. The bubble is likely to pop soon, but that is not a story for now. What is a ‘story’ is the fact that many online betting sites allow you to make a payment using bitcoin.

What is Bitcoin?

It is a cryptocurrency. Unlike the pound or dollar, there is no central authority that issues the currency. There is nobody controlling interest rates either. The production of the currency, as well as the value of the currency, is completely controlled by the market.

The currency is not even physical. It is a digital currency represented by a really long set of numbers and letters. People have decided that Bitcoin holds value and, therefore, you can use it as payment.

How do you gamble with Bitcoin?

Well, you are going to need to have some bitcoin to hand. Since you are reading this, we are sure you do. You then need to find a decent casino site that accepts bitcoin as payment (more on that soon)

It is important to note that it is unlikely that you will be gambling with real bitcoin on Australian bitcoin casino sites. Instead, you will be using the payment system in place. The payment system that they have will take your bitcoin and then give you an amount at the casino in your local currency, which we are going to assume is pounds.

They will give you a value that is close to what the market value of bitcoin currently is. It won’t be exact, but it will be close enough.

When it comes to withdrawing money from bitcoin betting sites, you will be withdrawing the money in your local currency. It will not get turned back into bitcoin at all.

In theory, if the value of the bitcoin has rapidly changed since you ‘sold’ your bitcoin to the online site, even if you made a loss while betting, you could technically withdraw more than you ended up putting into the website. This does not happen much as the value of bitcoin is relatively stable (for a cryptocurrency) at the moment. You may want to read our Bitcoin Casinos UK page if you reside in the UK.

Can You Use Other Cryptocurrencies on Bitcoin Casino Sites?

Likely not. There are very few cryptocurrencies that have had the impact that Bitcoin has had. Sure, some other cryptocurrencies do have value but they have not had a global reach as of yet i.e. they are not well-known by the general public. There is a chance that more cryptocurrencies could be added in the future, but I doubt you will find any site that offers more than Bitcoin at the moment.

How do you choose quality bitcoin betting sites?

Well, in much the same way as you would find any other betting site. This means thinking about the following:

• The number of events that you can bet on while on the site. We know that most people will bet on just football and horse racing, but it is nice to have a good selection nonetheless. 
• The odds on the site need to be fantastic. It is impossible for bitcoin betting sites, or any betting site for that matter, to always have the best odds. However, if they have decent odds most of the time then we can’t complain too much.
• The online site needs to have live sports betting. This is probably one of the most fun ways to gamble at the moment.
• If the site is not available for a mobile device, then give it a skip. Most people are gambling ‘on the go’ nowadays and, therefore, this is a necessity. 

Want to Play at Some Bitcoin Betting Sites?

If you do, there is no need to follow our advice for tracking down a top gambling website. You can, but it makes much more sense to allow us to put in the hard work for you. Here, you will find a list of all the best online gambling sites that we love.

These are the sites that accept bitcoin and are also brilliant places to gamble. In fact, these are the places where we are spending our hard-earned money. We will ensure we keep this list ‘up to date. 

Odds Made Easy: Understanding Sports Betting Odds

How odds work: If the exciting world of online betting is new to you then entering it might hold a few terms to learn. The best way to get off on your best-betting sites is to read and understand the terminologies behind sports betting, although it seems a lot at first it is bound to make sense in no time.

Getting to know the terminologies makes online betting sites a lot easier to deal with serious and knowledgeable bet making is great for combos and special bets. Several betting sites offer a section on betting glossary and it is always a great idea to have a quick read-through just to check that the same rules apply as normal.

If you are a novice sports bettor, then at first sports betting can be a confusing set of numbers, and it is important to find one of the best online sportsbooks sites, since knowing the odds is key to an enjoyable and profitable betting experience. Even if you are still a bit confused the only way to learn is to play, adapt information and find the best online betting sites that cater to your personal sports betting needs.

Regular Betting Odds

There are three different forms of regular betting odds in the sportsbook, and that is for both online and in-person betting. These are the basics and most important when you are ready to place any bets on sporting events.

The Moneyline wager is a straightforward bet placed on who will win the event and does not include point spread variables. It involves selecting the team you feel will win and placing the bet. The payouts of this are affected by the odds, and when using the money line bet, the odds display a negative symbol when it comes to favourites and a positive when it comes to betting on underdogs.

The point spread is the most common type of betting, and it allows players to bet on the score difference between two teams. Easier explained this wager allows you to select the team you predict will win and then the bet requires you also to provide the number of points it will win by.

The over/under bet is whether the total score between all competitors will be above or below the predetermined amount. The over or under is indicated on sports betting sites and if the number, for example, is 42 in a game of football and your bet is placed on over, then to win you need at least 43 points achieved in total between the two teams.

Other betting options are available on the best UK betting Sites

Singles: A single bet is a win or lose bet that depends on the outcome of the event, also called a straight bet it offers the person making the bet an easy option of deciding who will win. Wishing to stake on a straight bet offer much higher potential winning and in the case, the punter loses the bookmaker would keep the stake, and nothing is returned to the punter. Winning means your wager is multiplied by the fractions or odds and the bet plus profits are returned to the punter. Bookmakers normally offer the highest odds and the higher the odds; the better your profits could be.

Doubles: A double bet is a bet consisting of two selections, also called multiple bets; the bet enables punters to gain from both. The two selections allowed on the double bet mean that everything that would be returned from winning the first bet is used as a stake for the second bet. This is a hugely popular betting style offered by all of the best online sportsbooks since it provides punters with the potential to enjoy larger returns, but at the same time, it also could be slightly riskier.

Trebles: A treble bet is a multiple bet option that offers three selections and all of these need to win in order to gain a good return. Punters get to choose three and in order to celebrate huge returns the first selection needs to win in order to roll over to the second, the second needs to win in order to roll over into the third and when the third also wins then a larger win is guaranteed. This is a popular bet in all sports and although it's risky, it is also an exciting bet that guarantees incredible rewards.