Bitcoin launched with little fanfare in 2009. At the time, bitcoin owners could do very little with their investment. However, the new cryptocurrency eventually started to gain traction as people began to use it to purchase goods and services. When it arguably really took off though, was in the early 2010s when punters started using it for gambling online. The number of betting sites that accept crypto has exploded in recent years. You can easily find crypto-friendly bookmakers that are licensed and regulated in reputable jurisdictions. We have examined many of them, with the aim of finding the best crypto betting sites for UK bettors.
There are several factors that punters need to consider when they are searching for a trustworthy crypto sportsbook. Here are the nine most important things to look for in crypto betting sites.
⭐License – It doesn’t matter if you use cryptocurrency or other traditional payment options – you should always make sure that any bookie you bet with is licensed and regulated. A license from a respected authority means that the bookie operates to the highest standards. You can count on licensed bookies to treat you fairly, keep your funds available at all times, and pay you promptly.
⭐Good Reputation – Maintaining a good reputation is crucial for any business, and it isn’t too difficult to find out about a bookmaker’s track record these days. A simple Google search will swiftly yield loads of information, including user experiences, and sites like this that objectively analyse UK crypto bookmakers.
⭐Crypto-Friendliness – It only stands to reason that punters who want to bet with bitcoin, ethereum, ripple, or any other cryptocurrency find a solid bookmaker that accepts their digital currency of choice. This is becoming easier by the day, as a growing number of online sportsbooks embrace crypto payments. Many crypto sportsbooks even facilitate the purchase of various other cryptocurrencies.
⭐Odds – The importance of getting the best odds cannot be overstated. Would you pay £500 for a new television at one store if that same television was only £400 next door? Then why would you wager £100 to win £85 at one sportsbook when you could risk that same £100 to win £95 at the next sportsbook? Getting the best odds really can mean the difference between coming out ahead and losing money over the long haul.
⭐Special Offers – Bookmakers don’t offer welcome bonuses because they are generous philanthropists. They do it because it is one of the most effective ways of attracting new customers. Even beyond these big one-off promotions though, you must also consider what lies ahead. The best crypto bookmakers serve up a full menu of regular promotions to keep bettors coming back. Make sure any bookie you’re interested in offers the likes of free bets, money back offers, and other perks on a regular basis.
⭐Bonus Terms and Conditions – A bonus might look like a great deal at first glance, but it’s not until you delve into the terms and conditions that you find the true value. Simply put, some bonuses are worth claiming whilst others aren’t. Try to find a bonus with low wagering requirements that can be easily satisfied. Offers with a high rollover requirement, that must be met playing only accumulators, should be lower on your list.
⭐Customer Support – You want to find a bookmaker that offers top-notch support, which is preferably available 24/7. Whilst most online sports bettors don’t run into many problems, those that do should not have to wait for hours to get help. Rather, they should be able to pick up the phone or use a live chat feature to reach a customer service agent right away.
⭐Features – Savvy sports bettors want to have access to as many features as possible. The likes of cash out and in-play tools, bet builders, and enhanced odds are always popular, as are loyalty programs. Features like stats, betting previews, handicapping tools, and live streaming are also highly desirable.
⭐Withdrawal Times – If you want to get your hands on your winnings in a timely manner, you need a bookie offering fast payouts. Many of the world’s best online sportsbooks now process withdrawals within minutes. By contrast, some less capable crypto betting sites won’t even look at your withdrawal request for three days or more, which is simply unacceptable.
There are a whole range of advantages to wagering at betting sites that accept cryptocurrency. Let’s take a look at a few of the biggest ones.
✔️Anonymity – You leave a paper trail whenever you use traditional payment methods like credit/debit cards, bank transfers, or eWallets. Whilst payments to crypto bookies may not be 100% anonymous, they still do provide the highest level of anonymity
✔️Peer-to-Peer Transactions – Cryptocurrency payments do not involve a middleman. The digital cash goes from the sender directly to the recipient, which leads directly to our next advantage
✔️Lower Fees – Because there are no middlemen involved in crypto payments, there is nobody to take a cut of each transaction. Thus, it’s significantly cheaper to use cryptocurrency, especially over the long haul
✔️Cryptocurrency Bonuses – Many crypto betting sites give users plenty of incentive to sign up. It isn’t hard to find special crypto bonuses that are bigger and better than those typically offered to punters who use other payment methods.
✔️Dodging Geo-Blocks – Governments in some countries force banks and other payment processors to block transactions with gambling sites. Cryptocurrency is practically immune to such obstacles
✔️Security – Blockchain transactions are as secure as it gets. By also adhering to proper security practices, you can make it nearly impossible for even the wisest of hackers to steal your cryptocurrency
✔️Accessibility – Crypto users only need a mobile device or a computer, plus a crypto wallet, to send and receive payments. This is particularly helpful to people who don’t have access to traditional payment options like credit/debit cards or bank transfers
As is the case with every other payment method, there are a few downsides to using cryptocurrency. These include:
❌Volatility – The volatility of cryptocurrency has been on display since its inception. It is vulnerable to erratic moves in either direction. Most recently, bitcoin reached an all-time high and then quickly plummeted
❌Not All Bookies Accept Cryptocurrency – This means that punters in search of crypto gambling sites have fewer bookmakers to choose from. Fortunately though, the number of crypto bookmakers is steadily trending upwards
❌Reliance on a Private Key – If you forget the PIN to your bank card, your bank account number, or your eWallet login details, it’s easy enough to recover them. However, those who lose the private key to their crypto wallet have no way of recovering it, which will result in immediate financial losses
❌Vulnerable to Manipulation – With some cryptocurrencies being controlled by their creators, they are susceptible to manipulation which can result in even more wild price swings than normal
❌No Refunds – There’s no going back once you make a payment using cryptocurrency. If you inadvertently send a payment to the wrong address, there is no way to cancel or reverse the transaction
As of January 2021, it was estimated that there are over 4,000 cryptocurrencies available. Some are obviously more popular among sports bettors than others, and those below are the most widely-accepted at crypto gambling sites.
Punters in the United Kingdom aren’t prohibited from using crypto betting sites, and – in fact – have plenty of reputable sites to choose from. Unfortunately though, no bookmaker that is licensed and regulated in the UK supports cryptocurrency payments at the moment. Whilst it isn’t illegal to do so, the UKGC requires all of its licensees to abide by more traditional anti-money laundering and Know Your Customer regulations. The UK has been trying to figure out ways to regulate cryptocurrencies for a while now, and – as those rules change – it becomes more likely that cryptocurrency will be accepted by British bookmakers.
Despite UK-based bookmakers not accepting cryptocurrency, most of the best crypto betting sites outside of the UK accept punters from the UK. As for being safe, you can trust almost any crypto bookmaker that possesses a license from a respected jurisdiction, such as those in Malta, Gibraltar, or Curacao.
You need to obtain cryptocurrency before you can start gambling with it. If you don’t already have some, you can purchase it by visiting an exchange like Coinbase, Binanace, or Kraken. It’s as easy as getting a wallet to store your crypto in, then selecting the cryptocurrency you want to use. Some crypto betting sites even facilitate the direct purchase of cryptocurrency.
Once you have your cryptocurrency, you need to deposit it into your betting account. This can usually be done by following these steps.
After you complete the deposit, the best crypto betting sites will make your funds available within minutes. You can then start placing wagers by doing the following:
Purchasing cryptocurrency in the UK is a quick and straightforward process, but there are a few things you need to consider before you do it. Of course, you need to figure out which cryptocurrency you want to invest in. We urge you to do a bit of research on the topic so that you make an informed decision, being sure not to choose some obscure cryptocurrency that isn’t supported at the best crypto betting sites.
You also have to find a reliable exchange, which involves a bit of research too. We mentioned Kraken, Coinbase, and Binance earlier, but there are plenty of others and each one has its pros and cons. Consider what cryptos are available and what fees are involved. Another factor is the type of wallet you want to store your crypto in. Again, you should take a bit of time here to find the one that’s best for you. Most exchanges offer free wallets, but you can also purchase wallets that come with a variety of features.
Now that those things are out of the way, UK residents can go to their preferred exchange, get their wallet, and purchase their cryptocurrency using a range of payment options. These include bank transfer, credit/debit card, eWallet, and prepaid options. Whichever one you choose, just follow the instructions listed above and you’ll be placing bets at the world’s top crypto betting sites in no time.
Opening an account at an exchange is easy. If you are unsure about how to do it, let’s walk you through the registration process at Coinbase, which is one of the most popular places to purchase cryptocurrency for use at the best crypto betting sites.
Before we begin, you should know that you can set up your Coinbase account and buy cryptocurrency using your desktop, mobile browser, or the Coinbase app. Now, let’s open a Coinbase account by following these steps.
Now you can start the process of purchasing your crypto, by doing the following:
Much like wagering at the best crypto betting sites, cryptocurrency itself can be a bit of a gamble. However, that gamble has paid off for countless crypto investors. Bitcoin, ethereum, ripple, and other digital currencies have become the preferred payment option for punters all over the UK and the rest of the world. Considering how popular crypto bookmakers have become, we can reasonably expect crypto betting to continue trending upwards.
The benefits of using cryptocurrency for betting certainly outweigh the drawbacks. It is very secure, easy to get, largely anonymous, and many bookmakers offer big bonuses to those who use it. If you’ve always been interested in getting stuck in, this article has provided you with all the information you need to do so.
Yes. Punters in the UK can use bitcoin for betting. However, operators that are licensed by the UKGC are not yet allowed to accept it. This means that UK sports bettors who want to bet with bitcoin must find a reputable offshore bookmaker.
No. In fact, no online betting site that has a UKGC license is currently permitted to accept cryptocurrency.
While no UK-based bookie can accept cryptocurrency, punters in the UK have a variety of excellent online bookmakers to choose from. You can trust any crypto bookmaker mentioned on this site.
Crypto bookmakers operate in the same manner as non-crypto bookies. You deposit using cryptocurrency and, if you win, you withdraw using cryptocurrency too.
Go to your favourite crypto betting site, log in, and go to the banking section where you select the ‘Deposit’ option. Choose your preferred cryptocurrency from the payment options, enter the amount you’d like to deposit, then enter your wallet address. Once you submit the transaction, the funds should appear in your betting account balance within a couple of minutes.