Why use Bitcoin when Sports Betting?

Why use Bitcoin when Sports Betting?

As we all know Cryptocurrency is still new to much of us and learning how to use it might seem tedious and complicated. When I first opened up a Bitcoin wallet I really didn’t know what I was doing; it’s very scary as I wasn’t sure if I was following the right steps or would I be losing my money. Eventually, I found out that using Bitcoin to fund my sports betting account was the smartest move I could make.

The idea was to make my life easier by using Bitcoin and taking advantage of all the benefits it had to offer me. I was really after the easiness of being able to deposit and withdrawal without all the hassles that a credit card or funding through wire transfer had. I’m a seasoned sports bettor and knew all the ins and outs of how Sportsbooks work, but I never tried Bitcoin because I was afraid to “lose” my money.

That was two years ago and I’ve never looked back. Bitcoin is my only funding method I use now. Apart from being easy to use and secure, it’s ever changing as we all saw back in February 2017 when it rose to over $19k. Bitcoin has been used by sportsbooks for a few years now and has become the standard in sports betting. There are many reasons to use Bitcoin, especially the fact that it’s completely anonymous, Uncle Sam doesn’t find out about my dealings with my sports book. I don’t know how many times my credit card company declined my deposit to an online sportsbook because of certain laws and regulations. Once you set up your Bitcoin account and fund your sportsbook balance, you’re set to go. Withdrawing is just as easy – no more waiting around, in just a few minutes my bitcoin deposit is in my account. Bitcoin can still prove to be difficult to lots of players out there so let’s get started on how to get your sports betting account funded.

Step 1 -

In order to transfer Bitcoins to your sportsbook account you need to open up your very own Bitcoin Wallet. If you’ve ever opened up a checking account online, it’s much like that. There’s no secret to finding the right Bitcoin wallet; many of them charge you different fees, so you need to look around to see which wallet is best for your needs. In my case, I don’t really deal with Bitcoin professionally, I just need it to fund my sportsbook account.

After you find the right wallet for you, it’ll take you an hour to go over all the details and get some verification processes completed. Some of these wallets require you to send them proof that you are who you say you are, but not to worry as it’s completely normal.

 

Step 2 –

Now that you have your Bitcoin wallet open, you need to fund it with actual Bitcoins. My Bitcoin wallets use a type of bank wire transfer method that takes a couple of days to fund your wallet from your checking/savings account. Other wallets allow you to use a credit card in which case it would take a couple of hours for your money to show up in your wallet. Once you have money available in your wallet you can easily transfer dollars to actual Bitcoins.

 

 

Step 3 –

Now that you actually have Bitcoins in your wallet, you can easily transfer into your sportsbook account. Time to choose the right sportsbook for you – one that actually works well with Bitcoin and will not give you hassles about receiving or withdrawing.

Once you’ve decided upon a sportsbook you will need that particular sportsbook’s Bitcoin address to transfer Bitcoins into the sportsbook account. This address will be provided by your sportsbook customer service staff. You can’t miss it once you see it because it’s a long stretch of numbers and letters all stung up together.

You go into your personal Bitcoin wallet and look for the option that says “Withdraw or Transfer Bitcoins” option. Once you click on this option, you will need to copy and paste the BTC address and type in the amount you want to send. You then click “Confirm” and within an hour or so your sportsbook will have the funds in your sportsbook account ready for you to use.

 

Step 4 –

Withdrawing your winnings –

This is clearly the best part of this whole ordeal. You take your bookie for a ride and want to cash out your earnings. The first thing you need to do is go to your Bitcoin wallet and obtain a BTC address, almost always found in the “Fund” button.

You can go to the withdraw option in your sportsbook account and choose the BTC option. You then paste the address there as well as the amount of Bitcoin you want to take. Click the “Confirm” button and your bitcoin will be processing – within an hour or so you should see it in your wallet.

You might be asked to verify yourself once again by the Bitcoin wallet as a safety measure but no need to worry as it’s all part of the security.

 

It’s all as simple as 4 easy steps. There’s no real rocket science involved in using Bitcoin, it’s just a matter of learning something new, and with all the benefits that it offers I’m never using any other funding method ever again.

Why Choose TGF?

The art of sports betting is not something that is taught or learned overnight. Like most hobbies, it takes time and effort to pick winning spreads and keep momentum. Many novice sports bettors choose to bet with their hearts instead of their minds. Sports betting is about statistical information, the type of knowledge that only comes through following teams, players and game results.