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The Digital Gamble: Why More People are Choosing Crypto for Betting

21 February 2024 13:58, UTC

In 2010, a man spent 10,000 bitcoins to buy one pizza. Today, his cryptocurrency would have been worth nearly $400 million. So, why would anyone use their crypto to bet online when they could hold the money and make huge profits in the future?

For starters, some people genuinely believe crypto is the future of money. These Bitcoin owners love their crypto so much that they’re constantly looking for ways to spend it. The online gambling industry is a huge crypto supporter. It accepts Bitcoin, Ethereum, USDT and other popular coins. If you’re a crypto fan wondering whether betting with crypto is a good idea, below are some top benefits to keep in mind:

Crypto is Worth Real Money

Crypto is real money you can use to buy coffee, pay for online goods or bet on sports. Each cryptocurrency has a value you can compare with your local currency. For example, Bitcoin is worth $52,000 at the time of writing. Ethereum is trading at $3000 while USDT is worth $1. With that in mind, you can buy crypto worth your budget and use it to play slots or bet on football.

How do you buy crypto? The easiest method is to use a cryptocurrency exchange such as Binance, Coinbase, Bybit or Kucoin. Although these exchanges also give you a wallet to hold your money, it is in your best interest to store crypto through an independent wallet. Look into cold wallets like Ledger Nano S and Trezor if you want to buy large amounts of crypto. Alternatively, download a free wallet like Metamask, Trust Wallet or Phantom.


Owning crypto is increasingly becoming easy. To get started, all you need is a smartphone with Internet connection. Then you can buy Bitcoin, Ethereum or any other cryptocurrency for as little as $10. Depending on where you live, you might not need to provide an ID to buy Bitcoin. You can register an account at a crypto exchange and buy crypto without revealing your identity. This makes crypto one of the easiest forms of payment to buy online.

When it comes to spending crypto at casino sites, you have countless options. Many crypto casinos accept customers from all over the world. That means you can access a Bitcoin casino even though you live in a country with no gambling sites.

The best crypto sites support a variety of coins, meaning you’re not limited to Bitcoin and Ethereum. You can use Bitcoin Cash, Litecoin or even a meme coin like Doge to make your first casino deposit.

Generous Casino Bonuses

Online casinos love Bitcoin owners. You see, crypto helps minimize financial fraud—it has no chargebacks. Due to this, online businesses don’t lose money to chargebacks when you use crypto.

To reward crypto usage, the best Bitcoin sites welcome new customers with huge bonuses. Picture this. You could earn up to 1BTC when you make a similar deposit at your favorite iGaming app.

Each operator has a unique welcome bonus that differs from its competitors. Some casinos offer small bonuses with sweet terms and conditions. For example, they can give you 100 USDT with 20 rollovers.

Choose a small bonus with fair terms over a huge offer with strict policies. The goal is to have fun with your freebie. And if you win money, you want to turn it into real cash quickly.

Look out for crypto casinos that offer quality loyalty bonuses. These sites keep your account loaded with betting credits even when you’re broke. Consider claiming cashback deals, reload bonuses, VIP points and tournament cash prizes to maximize your bonuses.

Fast Transactions

If you’re like many bettors, you value casinos with fast payments. But here’s the thing. Casinos don’t always control payment times. Banking companies do. When you send money through a wire transfer, your bank decides how long it will take to process the money.

Bank payments take an average of three days. Bitcoin can process a transaction in 10 minutes. If you use a faster blockchain network like Solana, Ripple or Cardano, your transaction can take less than a minute.

Crypto is particularly helpful during withdrawals. Most casinos take a day or longer to process transactions made through mobile wallets, credit cards and wire transfers. With crypto, you can have your casino profits processed within one hour.

Speedy payments provide convenience. They save you time and frustration. What’s more, they give you the freedom to play online slots and card games at your convenience.

Crypto is Secure

Crypto is relatively secure, meaning you can use it to bet online without the fear of losing your money to hackers. Crypto is built on a hack-proof distributed ledger of records called the Blockchain. The blockchain stores all cryptocurrencies safely. But you receive two addresses to prove ownership of your crypto. Unless you share your private address with a stranger, no one can easily take your funds away from you.

The most common way people lose their crypto is by storing them in an unsafe wallet. If the wallet is hacked, you can lose your money. If you store your funds safely, few payment methods are as secure as Bitcoin.

Then there’s crypto’s privacy. It hides your name, face and address during transactions, which helps anonymize payments. If you don’t like people close to you snooping on your betting habits, crypto can afford the privacy you need.

Bitcoin is Borderless

Another reason people are using crypto for online betting is that it has no borders. You could fund your casino account with Bitcoin even though you’re on vacation in a different continent. By comparison, your mobile wallet might not work too far from your state. Likewise, your card company might cancel a payment once it detects you’re abroad.

Crypto is borderless and permissionless. This equates to freedom. You can use your funds in whichever way you desire without corporate or government interference.

To add icing on top, crypto has low fees. Because it’s permissionless, Bitcoin doesn’t gouge fees to users. In fact, crypto fees are rewards paid to the people who help keep Blockchains secure.