The Complete Guide to Esports Betting with Cryptocurrency
If you’ve been following the gaming scene, you’ve probably noticed how eSports is growing explosively. Games like Dota 2, CS:GO, and League of Legends draw huge crowds, and the excitement extends to betting on these matches. And what’s even cooler is that you can now bet using cryptocurrencies. Yes. Esports betting has become technologically advanced, and esports betting sites are making it easier than ever. Now, if you’re new to the world of cryptocurrency betting, don’t worry. You are not alone. We know that the idea of using digital currency can be a bit daunting at first, but by the end of this guide, you will have everything you need to get started.
What is cryptocurrency betting and how does it work?
Cryptocurrency betting is just like regular online betting, except that instead of using traditional currencies like dollars or euros, you use digital currencies like Bitcoin, Ethereum, or Litecoin. It’s basically the same as betting on teams, tournaments or in-game events, but using cryptocurrency gives you a little more flexibility.
One important thing to know is that the value of cryptocurrencies can go up or down. Therefore, if you place a bet, your payout may fluctuate depending on the value of your cryptocurrency when cashed out. But don’t let that scare you. The process itself is very simple. Let’s analyze it.
How to Start Esports Betting with Cryptocurrency
So how exactly do you use cryptocurrency to bet on esports? Let’s walk through the process from start to finish.
1. Set up cryptocurrency wallet
First, you need a cryptocurrency wallet to store your digital currency. Think of it like a regular wallet, but for cryptocurrencies. There are a variety of wallet options on the market, and while choosing one may seem overwhelming at first, here are some good options to consider:
- MetaMask: Ideal for Ethereum and ERC-20 tokens.
- Trust Wallet: It supports multiple cryptocurrencies and is beginner-friendly.
- movement: It has a great interface and supports a variety of cryptocurrencies.
Choose the one that suits you, download it and follow the instructions to set it up. Most wallets provide a unique “address” (a long string of numbers and letters) that you will use to send and receive cryptocurrency. Not sure which cryptocurrency wallet to choose? Check out our article “5 Best Cryptocurrency Wallets” below.
Keep your wallet’s private keys safe. This is your password, and if you lose it you may lose access to your funds.
2. Purchase cryptocurrency
Once your wallet is set up, you will need to purchase cryptocurrency to start betting. You can do this through exchanges like Coinbase, Binance, or Kraken. Sign up, link your bank account or debit card, and buy the cryptocurrency of your choice. The most commonly used ones for esports betting are Bitcoin and Ethereum.
3. Choose a sportsbook
Now it’s time to find an esports betting site that accepts cryptocurrency. There are a variety of options, but it’s important to focus on the key features that matter most. We’ll be sharing some recommended sites later, so stay tuned to help you get started. In the meantime, take a look at these key features:
- Cryptocurrencies accepted: Make sure the site accepts the type of cryptocurrency you want to use.
- Esports games covered: Check if they offer betting options for popular games like Dota 2, CS:GO, and League of Legends.
- User reviews: Take a quick look at user reviews to see if the site has a solid reputation.
- bonus: Many sites offer special promotions such as free bets or deposit bonuses for new users. Look for these deals to get the most bang for your buck.
- User Interface: You need a site that’s easy to navigate, especially if you’re new to the world.
4. Create an account
Once you’ve chosen a site, creating an account is usually fairly simple. You may only need an email address, and sometimes you may not even need to provide your real name. After all, anonymity is a big part of cryptocurrency betting.
5. Cryptocurrency deposit
Now it’s time to fund your betting account. This process is very simple.
- Go to your wallet or deposit page on the site.
- Copy your unique cryptocurrency deposit address (it looks like a long string of numbers and letters).
- Open your cryptocurrency wallet, paste the address and send the amount of your chosen cryptocurrency.
Always double-check your address before hitting “send” as a small mistake could result in your funds being lost. And some sites have minimum deposit amounts, so make sure you’re sending enough to meet those requirements.
6. Start betting
Once you’ve funded your account, you’re ready to dive into esports betting. Most sites allow you to browse upcoming matches or live games, place bets, and follow the action in real time. Depending on the game, there are a variety of betting options available, from predicting the overall match winner to specific in-game events such as first kills or total kills.
Try live esports betting with cryptocurrency
If you want to take things to the next level, try live betting (also known as in-play betting). This allows you to place bets while the match is in progress. You can react to the action in real time, like betting on the next kill in a game of Dota 2 or predicting which team will win the next round in CS:GO. Probabilities are constantly changing, so you need to think quickly and seize opportunities when they present themselves. This is an exciting way to get involved in esports and adds a strategic and fast-paced advantage to your esports betting experience.
Withdraw your winnings
Withdrawing your winnings is very similar to depositing them. Once you’ve placed your bet and (hopefully) won, you can send your winnings back to your wallet using the same method you used to deposit them. Cryptocurrency withdrawals are usually faster than traditional payment methods. Once the transaction is processed on the blockchain, your winnings will be deposited into your wallet within minutes.
Why bet on esports with cryptocurrency?
Cryptocurrency betting has many advantages, making it an attractive option for esports fans.
1. Better privacy
Cryptocurrency bets are often more numerous. private You don’t have to provide as much personal information as you would with regular money, and many sites allow you to bet anonymously so you don’t have to worry about your details being shared.
2. Low fees
Some banks charge fees for processing payments, and these fees can eat into your winnings. Cryptocurrency allows you to avoid high fees by sending money directly from one wallet to another without any intermediaries.
3. Bigger bonuses
Cryptocurrency sportsbooks tend to offer: bigger bonus Compared to fiat currency. This is because cryptocurrency transactions are cheaper to process and some of these savings are passed on to players in the form of generous bonuses.
4. More betting opportunities
Esports betting sites that accept cryptocurrency often special promotions and monopoly odds For cryptocurrency bettors. This means you have more opportunities to win big compared to traditional fiat sportsbooks.
The most common types of esports bets on cryptocurrency betting sites
Once setup is complete, the fun part begins. It’s time to bet! Let’s take a look at some common types of esports betting.
- Match Winner: The simplest bet is to choose which team or player will win a particular match.
- Tournament Winners: Here you bet on who will win the entire tournament, such as the League of Legends World Championship.
- First Map/First Kill: For games like CS:GO or DOTA 2, you can bet on which team will win the first map or get the first kill in the match.
- Total Kills: This is a bet on how many kills there will be in a match, often in an over/under format.
- Over/Under Betting: Predict whether your team will score above or below a set score or win a certain number of maps.
Crypto Esports Betting Tips
Here are some tips to help you get the most out of your esports cryptocurrency betting experience:
know the game
The more you know about the game and the players, the more likely you are to make smart bets. If you’re new to esports, focus on games you enjoy watching or playing. This will give you an edge when betting.
probability comparison
Different esports betting sites offer different odds for the same game. Don’t settle for the first odds you see. Shop around and find the best deals.
Find promotions
Many cryptocurrency esports betting sites offer bonuses and promotions, especially to new users. This will give you extra money to play with, so take advantage of it if you can. Please read the terms and conditions carefully.
Stay accountable
It is important to set limits and bet only what you can afford to lose. Cryptocurrencies are volatile and so is betting. Keep gambling fun and avoid chasing losses.
Top Recommended Crypto Esports Betting Sites
Here are the best esports betting sites that accept cryptocurrency: You can’t go wrong with any of the following:
Thunderpick covers over 22 esports titles, with numerous betting options on the esports World Cup. As a site dedicated to cryptocurrency, it can handle Bitcoin, Ethereum, Litecoin, etc. Thunderpick’s site is very easy to navigate, making switching between games and live betting a breeze. Plus, they offer awesome esports bonuses to sweeten the deal.
Supports over 100 different cryptocurrencies, making it easy to deposit, bet, and withdraw. They have all the best esports games like Valorant, Counter-Strike, League of Legends, and more. Plus, the site is very user-friendly, making it easy to get into the action.
Stake.com knows how to please bettors with numerous bonuses and promotions especially for cryptocurrency users. The esports section is packed with popular games like Dota 2 and CS, and the site is designed to be easy to navigate. It’s very easy to find the game you want to bet on and take advantage of all the great offers.
Pinnacle has been in the game for a long time and is known for its low margins and high payout limits. Pinnacle focuses on providing the best odds rather than flashy promotions. They cover a ton of esports events, making them a top choice for value-seeking bettors.
Bet on esports at Sportsbet.io using cryptocurrencies like Bitcoin and Tether (USDT). They also offer live esports betting, so you can place bets while the match is live. With a variety of games and easy sign-up, it’s simple to start betting on your favorite esports events.
Cloudbet has been around for a long time and is a top choice for those who value privacy. You can bet anonymously with cryptocurrency and no personal information is required unless you are dealing with large sums of money to prevent fraud. They support over 25 different cryptocurrencies and have a huge esports library to bet on.
These cryptocurrency betting sites are known for their esports offerings and they all accept cryptocurrencies, making it very easy to get started.
Why cryptocurrency betting is the future of esports
Cryptocurrency and esports are both fast-growing industries. As more people become interested in both, it’s natural for them to intersect. Betting with cryptocurrencies is an attractive option for many bettors as it offers more flexibility, speed, and privacy than traditional methods.
But don’t just take my word for it, try it yourself. Set up your wallet, find an esports betting site that suits your needs, and discover how cryptocurrency betting can enhance your esports experience. Remember, whether you win or lose, it’s all part of the fun.
