Over the years, bitcoin has managed to be in the news for multiple reasons, and its legal status is one of those reasons. The same goes with bitcoin sports betting as well because it is also in the news for the same reason. The legal status of bitcoin sports betting is not as simple as you may think, and many things come in between it and the bettors. In this article, we will talk about the legal status of bitcoin sports betting in the United States while also talking about its works.
What Is Bitcoin Sports Betting and How Does It Work?
Bitcoin is arguably one of the most popular and profitable cryptocurrencies in the world, and its involvement in online sports betting is a piece of great news for the fans and the industry. Many popular Sportsbooks give bettors an option of using bitcoin as a payment method, and that is known as bitcoin sports betting. Now, let’s move on to the working of bitcoin sports betting to give you a clear idea about it.
- Sign up at a sportsbook: The first step towards bitcoin sports betting is signing up on a Sportsbook. You should keep in mind that every bettor must find a top-quality and reliable Sportsbook with multiple features and benefits.
- Set up a crypto wallet: Once you sign up on a Sportsbook, you will get access to a temporary cryptocurrency wallet, and all you need to do is set up that cryptocurrency wallet provided by the Sportsbook.
- Send bitcoin to your wallet: The next step is to transfer your Bitcoins to the cryptocurrency wallet provided by the Sportsbook. That is a very crucial step, and you need to be careful while doing the transfer.
- Deposit bitcoin into your account: The next step is depositing your Bitcoins into your betting account so that you can use them for placing wagers on any sport.
- Picking a sport: Now that you have deposited the Bitcoins into your betting account, the next step is to choose the right sport for betting purposes.
- Placing a bet: The last step is to place a bet on the sport that you have picked. You need to be careful while placing a wager as it is a very crucial step.
The US Sports Betting Legality
Online sports betting is one of the best ways of making money, but the legal status might come in your way if you’re living in the United States of America. The central government in the United States has passed a bill allowing state governments to decide whether they want to allow online sports betting or not. That is the primary reason why online sports betting is legal in some states in the US, while it is illegal in the rest of the states. So, that is one thing that you need to check before you take a step forward towards online sports betting.
Best Online Sportsbook for USA Players
If you have decided to give bitcoin sports betting a try, it is the right time to look at some of the best online sportsbooks for players in the United States of America.
- Bet365: It is a popular and reliable online Sportsbook, and it is the number one choice for many bettors across the United States. It also has a mobile application for both android and iOS users.
- 888Sport: This online Sportsbook is known for different types of bonuses for users. Apart from that, it is also known for its 24/7 customer service and its live streaming of the game.
- Betway: This is one of the most successful sportsbooks in recent times, and the reason is their top-quality customer service and multiple market options.
- PointeBet: This online Sportsbook is popular among the bettors because of its wide range of sports.
So, that was all the necessary things you needed to know about the legality status of bitcoin sports betting in the United States of America. Whether you can take part in bitcoin sports betting depends on where you’re living because there are many states in the United States where online sports betting is not legal. So, make sure to check the legality status of online sports betting before placing bets. Using bitcoin for online betting can’t cause any problems for you, so you don’t need to worry about that.