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.