Introduction to Bitcoin in online sports betting

One of the big hindrances to many Brazilian bettors not wanting to place online sports bets is due to the fear that their money may disappear or they will be charged commissions to be able to make withdrawals at online sportsbooks.

However, with the emergence of Bitcoin, you will finally be able to have full control over all your transactions. Your money is going to be available in a matter of seconds with Bitcoin, whether it’s payment or withdrawal, with you having to pay virtually no commission, let alone justify to your bank where the money is coming from. The big advantage of Bitcoin in sportsbooks is that you finally have freedom under your money, without with as much security as possible!

Best Online Sportsbooks to use Bitcoin

Fortunately, and with the advancement of blockchain technology, which is the one that supports all Bitcoin transactions, but also other cryptocurrencies, some of the best legal online sportsbooks in Brazil offer all their Brazilian customers the possibility to be able to create their cryptocurrency wallet and accept and send Bitcoin. Below are the best sportsbooks in Brazil, all of them are reputable sportsbooks with bitcoin deposit.

  • 22Bet: the sportsbook is without a doubt one of the best betting sites in the Brazilian market, with bets for all games in Brazil. With Bitcoin you have the freedom and security to make your transactions
  • Brazino777: without a doubt this sports betting site is one of the best in terms of odds. You can also use your Bitcoin wallet to make all payments and withdrawals
  • 1xBet: we are talking about one of the biggest bookmakers in the world. Here you can bet on all sports and use only your Bitcoin to do everything with security and privacy.

Can you use Bitcoin on other online betting sites?

Bitcoin on online betting sitesMany of the major bookmakers quickly realized that there is a huge advantage in offering the possibility for their Brazilian customers to use Bitcoin to be able to make all transactions with privacy and practically free of charge. So these are some more bookmakers, completely legal in Brazil, that give the possibility of being able to use Bitcoin and give you total freedom financially.

Bitcoin: how the payment and withdrawal method works

As mentioned, Bitcoin is undoubtedly the technology that will revolutionize the online payment system and most likely the world economy in the coming years. This is exactly why it is important to take advantage of blockchain technology for our lives, starting with online sports betting.

  • Contrary to what you may think, making transactions with Bitcon at sportsbooks is not complicated at all, and you only need to follow a few important but simple steps to be able to have the financial freedom that only Bitcoin gives you:
  • A sportsbook that accepts Bitcoin gives you the possibility to create a Bitcoin account in the house itself, to make the whole process easier.
  • However, if this is not possible then you just have to create a Bitcoin wallet at the most popular exchanges, such as Kraken or Coinbase.
  • The whole process is free and you will only need to fill in your personal data
  • Once you have a Bitcoin wallet you just have to transform the money you want to deposit in the sportsbook into Bitcoin. The process is often automatic.
  • Ask for the unique Bitcoin key of the bookmaker and transfer as much Bitcoin as you want
  • Almost free of charge, and within minutes, you will already have the money available in your account to bet

Bitcoin History

In ten years, Bitcoin is managing to revolutionize the way people are looking at their finances and ways of paying online. It was Satoshi Nakamoto who developed Bitcoin in 2009, the world’s first created, completely decentralized cryptocurrency. Even today, Nakamoto is not known for sure who the creator of Bitcoin is and who was able to initially leverage blockchain technology, as he intends to remain anonymous. To get a sense, in the early years, Bitcoin was worth a few cents and was used by a very limited number of people. Now, Bitcoin is worth tens of thousands of reals, having made many people very rich.

This enormous growth has been due a lot to the emergence of other cryptocurrencies, and projects that promise to revolutionize the world. More and more people are understanding the benefits of using Bitcoin and how this technology finally gives people all the power. Your money can now no longer be in the hands of Brazilian banks, but totally in your power, with total privacy! Make the most of what Bitcoin has to offer in your life, as many headaches will disappear.

How Bitcoin works

It is completely legal and free for you to buy, sell and even trade Bitcoin in Brazil. Some of the biggest exchanges in the world are available in the Brazilian market and you can buy Bitcoin or other cryptocurrencies to make online payments safely and also make your sports bets online. In order to use Bitcoin for your financial benefit, you only need to have an active Bitcoin wallet and a key that you can give to people or bookmakers to make payments to you.

Thanks to blockchain technology, transacting with Bitcoin is totally secure, because your money will never pass through the hands of a human. The entire transaction process, which lasts only a few minutes because it works in blocks, is done through the technology that only needs power to be working and never needs someone to be managing it. It is completely impossible for anyone to access the transfers and know the identity of who is paying and receiving Bitcoin!

Know the advantages of using Bitcoin

To give you a clear idea of the advantages of using Bitcoin in online sportsbooks, we point out the main benefits you will find using your Bitcoin wallet:

  • You have financial freedom – the biggest advantage of Bitcoin is that you completely own your money and not the banks. At no time will anyone know what you are doing with your Bitcoins, and you don’t need to justify anything to anyone.
  • Partnerships with gambling sites – there are more and more bookmakers that value Bitcoin technology and how excellent this method is for all their Brazilian customers. All transfers are completed in just a few minutes.
  • Security is total – as in all transfers there is no one who can control or have access to the money, it is impossible for someone to steal your Bitcoin whenever you are making payments or withdrawals at online sportsbooks.
  • The money is all yours – in addition to not having to have the money in your bank, meaning that the money will be all in your power, the commissions you also have to pay never go past a few cents, very different amounts than what you always have to pay to your Brazilian bank, especially when you are receiving money from abroad, which ends up happening with the big bookmakers. With Bitcoin it makes no difference whether you are receiving it from Brazil, China, or Europe.

How to use Bitcoin for online gambling

Bitcoin for online gamblingSo that you can already start using Bitcoin at bookmakers, you will only have to select Bitcoin as your preferred payment and withdrawal method at bookmakers that accept Bitcoin. After that step, in case you already have your Bitcoin wallet, you just have to make the payment or request the withdrawal.

On the other hand, in case you do not yet have your BTC wallet created, sportsbooks are keen to help you with the creation of your wallet, from start to finish.

We remind you that your Bitcoin wallet gives you to the sportsbook, but also to transfer money to whoever you want, be it friends, family on the other side of the world, or buying from online stores. The commissions are always the same and almost zero.

Learn how you can deposit your money with Bitcoin

These steps may vary a bit between different online sportsbooks, but what you have to do to use Bitcoin on your betting site is pretty simple:

  • Select Bitcoin as your chosen method
  • Copy the address available from the bookmaker
  • Send the amount you want in Bitcoin to that address
  • Within a few minutes you have the money in the sportsbook available for you to bet

Is paying and withdrawing bets with Bitcoin safe?

This is without a doubt one of the great advantages of you choosing Bitcoin as your preferred method at sportsbooks. Since your money will never pass through human hands, as it is all done in blocks thanks to blockchain technology, it is impossible for anyone to cheat or steal your money.

This is exactly why Bitcoin and other cryptocurrencies are considered the future for online payments, because there is finally a method that is not dependent on anyone. In other words, it is impossible to fail, making it the safest way you currently have to make online payments and deposit your money in the sportsbooks.

Understand how to quickly create your Bitcoin account

You essentially have two very simple ways to get your Bitcoin wallet created as early as today, which is completely online: through an exchange or directly through the bookmaker, who always helps you get your account created.

Unlike what happens in electronic wallets such as Paypal or Skrill, not to mention the abusive commissions that Brazilian banks practice to the disadvantage of their customers, Bitcoin only charges a percentage of almost zero commission for each transaction. We are talking about a few cents on a transfer of thousands of reais. This commission does not go to one person, but rather to cover the energy costs that is needed to make the transfer. This is why the commission is so low and will never increase.

Alternative deposit methods on gambling sites

Without any doubt, all the major legal online sportsbooks in Brazil also give other payment and withdrawal method alternatives besides Bitcoin. However, it is important to understand that none of these alternatives that will give you the full freedoms and privacy that only Bitcoin can give you at the sportsbooks. These are the main alternatives:

  • Paypal – without a doubt it is the most well known and used online wallet around the world. However you will always be charged commissions ranging from 3 to 7%.
  • Neteller – you can create an electronic wallet to manage all transactions
  • Skrill – with Skrill you can manage your money completely online, both for online payments
  • Bank transfer – if you still prefer the more traditional payment methods, even though they are more expensive, and do not give any power or financial freedom, as with Bitcoin, you can choose to transfer the money directly from your bank account to the online sportsbook.

Bitcoin’s great goal is precisely to make your online payment and transaction experience completely secure, while at the same time making sure that you always have control over your money. With your Bitcoin wallet in place, you can always store as much Bitcoin as you want, and you can sell it for real money whenever you need to.

It is worth remembering that one of the big advantages of using Bitcoin in online sportsbooks is that you no longer have to pay abusive commissions to banks for all your transfers abroad. Furthermore, you no longer have to justify where the money comes from with Bitcoin, because only you will know for sure how much you received. The control and financial freedom is with you!

Final overview

Without any doubt that if you don’t want to have any more problems with your bank, want payments and withdrawals to be available within minutes, and still want to have total solution whenever you are doing online sports betting at bookmakers, Bitcoin is the ideal method and technology to match all your needs.

Finally, it is important to inform you that all the sportsbooks, which are legal in Brazil, and mentioned in this article, will help you from start to finish, with their 24-hour support, to be able to create your Bitcoin wallet and be able to make the payments and withdrawals that you want, always as quickly and safely as possible!