With so many people acquiring cryptocurrency and investing in various types of cryptocurrency, some people have decided to use the currency for gambling. Most people know that there are special crypto casinos that only accept bitcoin deposits with certain types of cryptocurrency, rather than fiat currency. There are obviously online betting sites offering traditional games to their players.
Crypto Gambling
But what some people may not realize when they start betting is that there are websites that allow players to use digital currency to gamble on sports events. Yes, now sports gamblers who also hold cryptocurrency can try to grow their cryptocurrency through anonymous betting via sportsbook websites, also known as an online bookmaker. Placing bets on sports events via online gambling, like college football, Aussie rules football, or horse racing, rather than traditional online betting casino games through online casinos, has become the new normal for crypto betting.
But before a gambler decides to commence a bitcoin deposit of their digital currency with most bitcoin sportsbooks and places his first crypto bet, there are a number of factors to consider when analyzing gambling sites. What type of reputation does the online sportsbook have? How long have the betting sites been in business? What types of bitcoin sportsbook reviews do the best crypto sportsbooks have? Is the bitcoin sports betting website a registered entity and has a gambling license? When can a bitcoin bettor make bitcoin withdrawals? When did the online sportsbooks get in the business? Should I consider offshore betting sites or are many bitcoin betting sites local? The list of questions goes on and on.
Taking a Step Back
Using digital currency to start betting on sports markets is relatively new in the gambling industry. A top bitcoin sportsbook should offer players looking for online sports betting options with lucrative bonuses. Indeed, when reviewing cryptocurrency sports betting sites and the broader bitcoin betting markets, a player must confirm that a bitcoin sportsbook offers wagers that are competitive and bonuses that are top-notch. A competitive bitcoin sportsbook pays bonuses, such as deposit bonuses and welcome bonuses, that should draw you to their crypto sports betting website. Competitive odds while BTC sports betting is important, but bonus offers could be what initially draws you in to make your initial sports bets.
Remember, a player is not taking out his bitcoin wallet to play traditional online casino games in these circumstances. Instead, the player is looking for the best bitcoin sportsbook (again, not an online casino) and best bitcoin betting site to conduct crypto betting.
Questions to Consider
The main question we will discuss in detail for this article are bonuses offered by bitcoin sportsbooks and how to identify the top bitcoin betting sites. Specifically, different bitcoin sportsbooks offer different types of bonuses for their players, and especially for new players interested in bitcoin betting. In short, bitcoin betting sites want your business. Picking a bitcoin sportsbook can be challenging and confusing. Bitcoin betting is fun but deserves your respect. Nevertheless, selecting a bitcoin sportsbook with a desirable bonus platform could be what propels a new player to success. Sports betting varies considerably by betting sites. and making it rich by gambling on sporting events through a bitcoin sportsbook.
Focus on Sports
Although the purpose of this article is to review bonus offers, players using an online sportsbook must realize that although they are still using gambling sites, they are now becoming specialized. Players using an online sportsbook are now making sports bets via the sports markets, and need to start learning everything they can about sports. The sports market is unlike opening up your bitcoin wallet to continue crypto betting at an online casino. Rather, a player is crypto betting with his bitcoin cash in the sports markets. For example, if you are planning to bet on horse racing, then you need to understand everything there is to know about horse racing. Although cryptocurrency sports betting sites are a great avenue for players to generate a niche for their gambling platform, players must learn everything they can about the sport, in addition to learning about the best bitcoin sports betting sites.
Bonus Offers
This article will summarize three types of bonuses for sports betting with a bitcoin sportsbook. Sports betting on betting sites that offer bitcoin have lucrative bonuses. These betting sites normally offer certain bonuses directly on their bitcoin sportsbook. Most crypto betting sites offer the following three types of bonuses for cryptocurrency sports betting:
- Sign Up Bonus;
- Reload Bonus; and
- Risk-Free Bets.
Sign Up Bonus
A signup bonus normally entails the bitcoin sportsbook crediting an amount of cryptocurrency into the player’s account after the player makes an initial deposit with the bitcoin sportsbook and meets other conditions. These conditions are discussed in more detail below.
A signup bonus is a terrific way for new players to decide what bitcoin sportsbook to use moving forward. For example, if the player does not like the format of the sportsbook interface or the limited number of sports to place bets on, then the player does not need to deposit any more of their own money and can move on to the next bitcoin sportsbook. Players should remember that they are not limited to only a handful of bitcoin sportsbooks. Rather, there are dozens of bitcoin sportsbooks to choose from. There is no need for a player to settle on a lackluster bitcoin sportsbook that does not offer any bonuses to their players.
Sign Up Bonus Cap
A signup bonus that gives a player money in exchange for making an initial deposit is not exactly what it sounds like. Players think that there is no limit to this bonus. However, those players are wrong. It is important to understand that this signup bonus does have a cap. For example, if the player’s first deposit with the bitcoin sportsbook was 1 bitcoin, the sportsbook may have a 100% match up to .2 bitcoin. However, some bitcoin sportsbooks may put the .2 bitcoin cap in small print and advertise the 100% in bold letters. That means that a player might think that they are going to receive another 1 bitcoin from the sportsbook, meaning that the player can place bets up to 2 bitcoins (only 1 bitcoin being the player’s own money). But that is not correct. Because of the .2 bitcoin deposit match cap, the player will only have 1.2 bitcoins in their internal sportsbook account (with 1 bitcoin being from the player’s initial deposit). The takeaway from this example may come as a shock to some people. A signup deposit match may be appealing at first glance, but after reading the small print the deal could not be as good as the player initially thought.
Understanding the Rollover Requirement
Regardless of what type of cap is provided on the signup bonus, these bonuses will include a rollover requirement. A rollover requirement is the number of times that a player must risk their initial deposit before they can withdraw any winnings (including the signup bonus provided by the bitcoin sportsbook) without being penalized. In short, to withdraw winnings from the bitcoin sportsbook and place it back in the player’s cryptocurrency wallet, the player must first make a certain number of bets/wagers on the bitcoin sportsbook’s website to give the bitcoin sportsbook the chance to win back the deposit amount (and perhaps the player’s initial deposit as well). Thus, unless a player makes a certain number of bets up to the threshold amount required by the rollover requirement, the player will not qualify to receive the signup bonus amount with the player’s initial bitcoin withdrawals.
Rollover Primer
Rollover requirements can be confusing without examples. But to make things simple below is an easy example of how rollover requirements work. Let us assume that a new player with a bitcoin wallet with a balance in her account has located a betting site that has a good reputation and is legal to play in a country where she lives. The player wants to get more comfortable with the betting site and see if the interface and betting options meet her expectations. Most importantly, the player wants to feel comfortable with the crypto gambling sites and have fun while betting on the sporting event. As a signup bonus, the sportsbook provides the player with a deposit bonus of .1 bitcoin in response to the player making an initial deposit of 1 bitcoins in the betting site’s internal account. In accordance with the terms and conditions of the betting site’s deposit match bonus, let’s say that there is a 20x rollover requirement, which would not be unreasonable. This means that before the player can attempt to withdraw any of her winnings after the games, the player must first place at least 20 bitcoins worth of qualifying bets. If the player does wager up to 20 bitcoins in the aggregate, then the player would not only qualify to withdraw their winnings but also collect the additional .1 bitcoin from the sportsbook. Players should note that rollover requirements can vary dramatically between bitcoin sportsbooks, with the range being from 10x to 35x.
Rollover Requirement Implications
What a rollover requirement really means for new players is that the player needs to begin to wager often and early on. In short, there is no shortcut to gambling on sporting events to reach the rollover requirement. By betting once the player is signed up, the player increases their chances that they will reach the rollover requirement threshold before it expires. And if the player loses the money they initially deposited and still wants to get to the rollover requirement benchmark, then the player will need to deposit more cryptocurrency with the betting site. It would be wise at this time to analyze how much the signup bonus is worth versus how much of the player’s own cryptocurrency they are depositing with the betting site in order to qualify to withdraw the signup bonus.
In addition to understanding that a signup bonus will likely need to be accompanied by a player making additional bitcoin deposits, players also need to keep an eye out for what types of bets count toward the rollover requirements. For example, if a team is favored by more than a certain number of points on the moneyline, the betting site may not count the money wagered on that game toward the rollover requirement.
Contribution Component of a Rollover Requirement
Digging one level deeper into the rollover requirements associated with a signup bonus, a player may misunderstand that in some instances the player must consider what a game’s “contribution” is toward reaching the rollover requirement. In simple terms, a contribution is the percentage of each bet per game that counts toward the rollover requirement. For example, certain games that have a close point spread (i.e., neither team is the favorite and the payouts for either team winning are approximately the same) may count the full 100 percent of a bet toward the rollover requirement (e.g., a player bet .2 bitcoin, then the full .2 bitcoin counts toward the rollover requirement amount). However, other games may only have a 50 percent consideration toward the rollover requirement (e.g., a player bets .2 bitcoin on the favorite team to win the game, but the team is heavily favored, then only .1 bitcoin of the bet counts toward the rollover requirement amount). Therefore, before a player decides to deposit any of their own money with the sportsbook, the player should consider whether they believe they will be able to reach the rollover requirement threshold based on the contributions attributed to the upcoming sporting events and games the player expects to gamble on. If the sports or games the player likes have a high or 100 percent contribution, then it might be an appropriate decision to make an initial deposit with a certain betting site. But if the player’s favorite sport or games have a low contribution amount, then the player may want to consider how much the player enjoys gambling on the sportsbook and what other crypto sportsbooks are offering.
Minimum Deposit
Bitcoin bettors should be aware that almost all signup bonuses are conditioned on a player making a bitcoin deposit into the internal account before the betting site will match. For example, if a bitcoin betting site has a signup bonus is 200%, but the match is not triggered until the gambler takes the action to deposit bitcoin, such as .2 bitcoin, the gambler must make sure that they have .2 bitcoin to deposit with the betting site. In other words, it is pointless to pick a betting site based on a signup bonus if the gambler does not have enough cryptocurrency to deposit to qualify for the signup bonus. No crypto bets can resolve this dilemma, but the best bitcoin sportsbooks make the minimum deposit a minimal hurdle. For some low minimum deposit bitcoin sportsbook bonuses, readers should review this article.
Expiration Dates Associated with a Sign-Up Bonus
In addition to deposit caps, rollover requirements, and contribution terms, a player needs to know when the signup bonus expires. Bitcoin bettors have explained how in the past they accidentally let the signup bonus lapse because they forgot when the signup bonus expired. Although the best crypto betting sites make this information clear, it is not always easy to find. For example, many crypto sportsbooks only offer players up to 30 days after claiming the signup bonus to complete the rollover requirements. If somehow a player is able to find a signup bonus offer that does not have a rollover requirement, then we would encourage the player to immediately sign up for the bitcoin betting exchange, gamble on sporting events for free, or simply withdraw the cryptocurrency and put it in your cryptocurrency wallet. But these “no rollover requirement” situations are rare and hardly ever exist with a legitimate, trustworthy crypto betting site. Therefore, in most circumstances, the rollover requirement time limitations for bitcoin sportsbooks must be considered by a player.
Bonus Code
Players should remember that not every signup bonus offered by sports betting crypto site is automatic and may require a bonus code. Some crypto sportsbooks require a promo code before granting the player a signup bonus or other bitcoin bonuses, such as a bitcoin deposit bonus. Others will automatically give players the signup bonus.
If a promo code is needed, most players report that it is easy to find the code on the crypto sportsbook’s website itself. Alternatively, a quick Google search can help a player quickly find a promo code to qualify for the bonus on a crypto gambling site. In most instances, promo codes are easy to find (if even needed) for the best bitcoin sportsbook websites. For more information about bonus codes and bonuses in general, readers should refer to this article.
Reload Bonus
Not a new player on a crypto sportsbook’s website, but the online casino's competitive odds have convinced you to stay on the website? In that case, the player can obviously not rely on a signup bonus. Instead, the player would want to review a crypto sportsbook’s reload bonus.
A reload bonus is exactly what it sounds like. Once a player deposits more cryptocurrency with a sportsbook after his or her initial deposit, the top bitcoin betting sites might credit a portion of that deposit with the player’s sports betting account (up to a cap). Thus, just like a signup bonus would have a cap, rollover requirement, contribution terms, and expiration date, a reload bonus would have a similar structure for returning players. The best crypto betting sites offer these reload bonuses.
One thing to also note about reload bonuses are that they are normally a much lower percentage bonus – between 25% and 35% in most instances. Nevertheless, the betting markets expect a bitcoin betting site to offer these perks.
Risk-Free Bets
A risk-free bet bonus offering for crypto betting lets players make their first bet on a crypto betting site platform for free. The best bitcoin betting sites provide risk-free bets. There are two possible ways a risk-free bet bonus can benefit new players and help the best bitcoin sportsbook stand out from the rest.
Ways to Receive Risk-Free Bets
The first way can be by the sportsbook crediting the player’s internal playing sports betting account with the funds to bet. The second way, and more common way, is for a crypto sportsbook to rebate a player’s first bets should the bets not result in the player getting any winnings. A player should be aware of certain conditions that are included with a free bet bonus, such as what types of sporting events and games qualify for using the risk-free bet bonus, what money lines qualify for the bonus to be used, and what types of bets the risk-free bet may be used for.
Example of How Risk-Free Bets Work
For an example of how a risk-free bet would work, if a crypto sportsbook offered players a risk-free bet of up to 0.3 bitcoin, then the sportsbook would place a .3 bitcoin credit in the player’s account (without the need for an initial deposit) or provide a .3 bitcoin credit to the player’s account after they lost .3 bitcoins of their own money on a losing bet. Crypto betting should be made easy by the best bitcoin sportsbook, and the best bitcoin sportsbooks make these offers clear.
Conclusion
Sign-up bonuses, reload bonuses, and risk-free bets are three of the most common sportsbook bonuses that players should be aware of. Fiat currency is no longer needed for sports bettors to conduct sports betting on sports betting sites. It is simply unacceptable for a player to deposit cryptocurrency with a crypto sportsbook without first doing some research on the different crypto sportsbook websites. Before making a crypto bet, every novice player should review this article.