With the current wide-scale expansion of sports betting legalization in the US, it’s no surprise that more people than ever will be betting on the Super Bowl. Indeed, the Super Bowl is already the most common entry point for new bettors, and the relaxing of gambling laws across America should all but ensure that more money will be bet on the next Super Bowl than has been wagered on any previous NFL championship tilt.
Of course, most US bettors still don’t have access to domestic online betting options, and it will be many years before sports wagering is widespread and convenient enough to promote easy participation from the populace at large. Thus, legal offshore betting remains the best avenue.
That said, there are a few hurdles to overcome if you don’t have a sportsbook account and are looking to place bets on your first Super Bowl. Yes, it’s easy enough to sign up at any offshore site (Bovada, BetOnline, 5Dimes, SportsBetting AG, etc.), as that only takes an email address, phone number, and about five minutes of your time. But when it comes to depositing cash into your account so you can actually get wagering, some new users might run into a few problems.
Fortunately, Bitcoin (BTC) sportsbooks alleviate these issues entirely, and most bettors are making the switch to the cryptocurrency to bet on the Super Bowl and all the other sports, teams, and players they love. Our brief Bitcoin how-to covers everything you need to know about why BTC is perfect for online sports betting.
Why Bitcoin?
There are several reasons why Bitcoin is considered one of the best sportsbook banking options, and any one of them should be enough to convince new and old bettors alike to get onboard the crypto bandwagon. Bitcoin is a bona fide problem solver for avid offshore bettors, remedying every banking snag that may otherwise crop up from time to time.
- Bitcoin avoids the UIGEA – The main reason BTC is the best option to fund your sports betting account is because it completely bypasses the Unlawful Internet Gambling Enforcement Act (UIGEA, 2006). This law is a banking regulation that limits how traditional financial institutions are allowed to process payments to and from non-state-regulated betting sites over the Internet.
While the law doesn’t criminalize individual bettors for using these services (no law does!), it does sometimes result in rejected credit and debit payments to said operators. When you want to put money in your account to bet on the Super Bowl ASAP, such a delay can cause you to miss out on a favorable betting line and a big payday.
- Bitcoin is FAST – Piggybacking on the above, Bitcoin is by far the fastest overall way to handle your sportsbook banking requirements. On the deposit side, you can have your BTC transferred over to your book in just a few seconds.
However, it’s the withdrawal side where Bitcoin truly shines: It is the ONLY same-day withdrawal option available at any offshore betting site. When you request payment via BTC, you will get your money in hours instead of the days or weeks that traditional methods (bank wires, courier checks, person-to-person transfers) typically take.
- Bitcoin is SAFE – Bitcoin is the safest known financial transaction method. Because it uses the blockchain and an open ledger encryption system, BTC is considered to be quantum-hacking-resistant. Bitcoin has never been hacked in over a decade of existence, and crypto in general offers a constantly evolving, state-of-the-art banking solution.
- Bitcoin is PRIVATE – In addition to being fundamentally secure, Bitcoin is also fundamentally more private than other banking options. To use Bitcoin, you don’t need a bank account, you don’t need a hosting service, and you don’t need any kind of login or password. All you need is a private Bitcoin wallet with its own unique Bitcoin address, and that’s it! While Bitcoin isn’t 100% anonymous, it offers far more anonymity than traditional banking services.
- Bitcoin is VERSATILE – You can use BTC to wager at the best Bitcoin betting sites, but that’s far from the only use case for the stuff. In fact, you can buy anything with Bitcoin, anywhere in the world, without ever going through a bank or a currency exchange. If a vendor accepts BTC, you’re in business!
- Bitcoin is an INVESTMENT – In addition to being a great currency platform for exchange, Bitcoin is the best investment platform going. Over the last 10+ years, Bitcoin value is up tens of thousands of percent, which is a return unheard of even among the savviest stock market mavens. With the Bitcoin price always trending upwards, you can keep your Super Bowl winnings in BTC and watch those earnings appreciate year-over-year.
- Bitcoin is REAL – Bitcoin is real money. Cryptos like Bitcoin are all based on finite supply, as when the US was on the gold standard many decades ago. Unlike fiat money, Bitcoin is uncontrolled, trading at exactly the price that both buyers and sellers agree to, in real time, with no external market pressures suppressing its value. If you insist on real money, insist on Bitcoin.
- Bitcoin is MORE – When you opt to use Bitcoin or other cryptos are your offshore betting site of choice, you can maximize your bonus offers. Because this is a big topic for most bettors, we cover it in more detail directly below.
Bitcoin Sportsbook Bonuses
For the best sportsbook bonuses available at all the top offshore sites, you will need to deposit with Bitcoin. On average, BTC deposits yield bonuses of about 50% more than other deposit methods, all with the same rollover terms.
The reason this occurs is because the industry’s leading sportsbook operators all prefer to use Bitcoin (and other cryptocurrencies) to pay their customers out. Remember, BTC/crypto doesn’t just offer bettors a fast, reliable way to deposit – it also offers sportsbooks an equally fast, reliable way to issue payouts.
The current Bitcoin sports betting bonuses available at the top books include the following:
- Bovada – $750 Bitcoin Sports Welcome Bonus
- BetOnline – 100% 1st Time Crypto Bonus up to $1000, 35% Crypto Reload Bonus up to $1000
- MyBookie – 50% Sports Sign-Up Bonus ($1000), 25% Sports Reload Bonus ($500)
- SportsBetting AG – 100% 1st Time Crypto Bonus up to $1000, 35% Crypto Reload Bonus up to $1000
- Bookmaker – 50% Crypto Welcome Offer up to $500, 25% Crypto Reload Platinum Offer ($2500) + More!
- BetDSI – 100% New Member Bitcoin Bonus, $2500 Bitcoin Reload Bonus
Super Bowl Betting For Existing Bitcoin Users
If you already have a Bitcoin wallet, you’re likely familiar with the process of sending and receiving crypto funds. To bet with Bitcoin, all you have to do is visit your sportsbook of choice, sign up or log into your account, and click/tap over to the cashier.
Once there, select “Bitcoin” or “Crypto” as your deposit option, copy the site’s BTC wallet address, and send the requisite funds from your own wallet to the betting site’s. That’s all there is to it. After initiating the transfer, you’ll be able to wager in minutes!
Super Bowl Betting For First-Time Bitcoin Users
If you’re not holding – or, in Internet parlance, “hodling” – any Bitcoin, the first step is to actually acquire the currency before you can deposit and make your Bitcoin Super Bowl bets. To buy Bitcoin, there are two different methods you can employ: the slow way, and the fast way. Naturally, we prefer the latter, as Super Bowl bets wait for no man!
- The Slow Option – Sign up for an account at a Bitcoin buy-in service like Coinbase, the largest US BTC exchange. From here, you can purchase BTC with credit or debit, but each transaction will take up to 10 days to clear (though your BTC price will be locked to the rate it was upon purchase).
Once you get your BTC credited to your Coinbase account, you can send it to sports betting sites, exchanges, or other vendors of goods and services. Because of the long wait, however, this is clearly not the best choice for making timely Super Bowl bets with Bitcoin.
- The Fast Option – When speed is paramount (which it is, in both football and football betting!), you’ll want to acquire your Bitcoin ASAP. To get your hands on Bitcoin in minutes instead of days, you will need to use the Zelle-To-Bitcoin process powered by an exchange called LocalBitcoins.com. The process is outlined below:
- Follow any link here to sign up at a legal sportsbook, as they all support Bitcoin betting deposits.
- Sign up at LocalBitcoins.com.
- Use the Zelle app or your mobile banking app’s Zelle option to buy Bitcoin from a LocalBitcoins vendor. (Zelle is a banking product that most US banks already support.)
- Select the Bitcoin deposit option at your bookmaker of choice.
- Deposit!
- Bet!
- Get paid!
Best Bitcoin Wallet For Sports Betting
Last but not least among our Bitcoin betting tips is how to pick the best Bitcoin wallet. There are several different options out there, from exchange wallets, software wallets, and hardware wallets, and each has its own benefits and detriments.
In general, exchange wallets offer hodlers the fastest way to move their BTC to and from vendors and services like Super Bowl sportsbooks. Software wallets are one step removed from exchanges, as these are system-side encrypted apps that allow you to store, send, and receive your coin. Hardware wallets are offline storage solutions, and these are the most secure but most inconvenient solutions for those who do a lot of BTC purchasing, trading, or betting.
Best Bitcoin Exchange Wallets
- Coinbase
- LocalBitcoins
- Kraken
- Bittrex
- Binance
Best Bitcoin Software Wallets
- Electrum
- Bitcoin Core
- Breadwallet
- Atomic Wallet
Best Bitcoin Hardware Wallets
- Ledger Nano S
- Ledger Nano X
- Trezor Model T
- KeepKey