How to Start Betting with Bitcoin
The first thing to do to begin online betting in India is open a betting account from our list of rated and reviews sites.
It is important to select a betting site that accepts Bitcoin at this stage.
Once you have registered and logged into your new account, you can then use Bitcoin to add your betting funds. Setting up a Bitcoin wallet is also easy to do
Once this is done it means placing wagers on all the latest odds is just a few clicks away.
Funding Your Betting Account
It is quick and easy to transfer money from Bitcoin to your betting account.
- Log into your betting site account
- Click on the deposit section of the site
- Select Bitcoin as your deposit method
- Enter the amount you wish to deposit
- Enter a Bitcoin bonus code if you have one
- Select enter once you are ready to deposit
- Link your Bitcoin wallet with the generated QR code to complete the deposit.
Deposit Times and Fees
Making a deposit to your chosen Bitcoin betting site is quick to do. You can add funds to your account instantly and won’t be charged to do so.
It is no different from using any other currency.
Is Bitcoin Safe and Legal in India?
The country’s Supreme Court handed down a ruling in March 2020 that essentially legalised digital currency such as Bitcoin.
However, this development is a welcome change and should mean even more of India’s best betting sites are welcoming customers wishing to use crypto as their payment method in the coming months and years.
Why Bet with Bitcoin?
Several betting sites that welcome Indian players are now accepting Bitcoin for deposits and withdrawals. It’s a legal way to move money and can help avoid transaction and foreign exchange fees.
Avoid Currency Exchange Fees
Because Bitcoin is a currency that is accepted around the world, it doesn’t need to be exchanged in order to be used on a betting site.
It means crypto is another option for avoiding additional fees when making transactions into your betting account. Use an MBTC to INR converter to help you with this calculation.
Still Bet in Indian Rupees
The value of Bitcoin itself can change, but it doesn’t need to be converted.
Once you have made a Bitcoin sports betting deposit into your bookie account, it will still show as INR in your overall balance.
Being able to bet in INR means it is easier to understand how much you are spending and how much you can win when placing wagers online.
Feel Safe Using BTC
One of the best elements of using cryptocurrency is it removes the need to give your financial details.
You’ll still need to register basics like your name, date of birth and email address to open a betting account. However, there’s no need to provide a credit or debit card in order to make a deposit or withdrawal. You simply be done by giving the details of the online wallet where any Bitcoin is stored, and making the transaction that way.
Make Quick Mobile Deposits
Using both the Bitcoin app and a betting app will make the process of depositing funds even quicker.
Get a Bitcoin Betting Bonus
In fact, several of our top-rated bookies even have specific betting offers and bonuses for customers who deposit using the cryptocurrency.
Here are some of the best Bitcoin betting bonuses:
10CRIC’s Bitcoin Welcome Bonus – 100% up to 30 mBTC
As well as being exclusively for Indian customers, 10CRIC have a Bitcoin welcome bonus too.
This matches your first deposit using the cryptocurrency at 100%, up to 30mBTC.
This betting offer is available to anyone, not just new customers.
Simply use code “BTCRIC” and you’ll be credited with the bonus once your transaction is complete.
Once the bonus is available, you’ll have 90 days to complete the 12x rollover requirement. Sports bets with odds of at least 1.60 (3/5) count towards this process. Terms and conditions apply.
New Customers Only | 18+ | T&Cs apply
- 12x wagering requirement on bonus and first deposit.
- Bets at odds of 1.60 or more will count.
- Use bonus code IPL15TH
- Minimum deposit of ₹1000.
- 200% bonus up to ₹15,000.
- After completing requirements, get 15 free spins on Wild Wickets game.
- Bonus expires after 15 days.
Sportsbet.io’s Free Bet Offer
Anyone who opens a new account and places their first bet through the Android app will receive a ₹1000 free bet the following day.
This first bet can be on any sport but must be at least ₹1000 to qualify. It has no rollover requirements. Check terms and conditions.
New Customers Only | 18+ | T&Cs apply
Withdraw Winnings in Bitcoin
The best Bitcoin betting sites will also allow you to withdraw winnings in the cryptocurrency as well.
This is a big positive for those who have no reason to convert their Bitcoin and means they don’t have to be hit by any conversion fees.
Just head to the withdrawal section of your crypto betting site and follow the quick steps to move your Bitcoin cash back into your wallet.
Another advantage of betting in Bitcoin is that withdrawing winnings happens almost instantly.
There will only be a delay if it is for a much larger sum, which as to be processed manually by the site.
How to Get a Bitcoin Wallet
Bitcoin can help you choose a wallet that suits your needs on its website. Answer a few questions to get a suggested wallet that is geared up for what you want.
You can then use this wallet to deposit and withdraw funds into your betting account.
How to Buy Bitcoin for Betting
You can buy Bitcoin the same way you would with any other currency.
You may be able to buy Bitcoin cash through your chosen wallet. However, you may also prefer to handle the transaction yourself.
If so, using one of a number of cryptocurrency exchanges is an option. Popular choices in India include:
- WazirX – A trusted India crypto exchange
- Cex.io – Use your credit or debit card for instant transactions
- Zebpay – A popular platform in India
- BuyUCoin – Has multiple crypto options
- Unocoin – Has many users
As ever, be sure to research the exchange that offers the best value and appeals to you.
Digital currencies such as Bitcoin are designed to be decentralised, meaning they work on a peer-to-peer basis. They are software that doesn’t belong to any particular bank or financial institution.
This means they can be spent around the world safely and securely. There is no need to give your financial details to the other party involved.
The value of cryptocurrencies such as Bitcoin can move up and down, depending on the supply and demand at any particular point in time. It’s important to keep this in mind when using it for crypto betting or any other purpose.
Bitcoin can also be broken down into smaller amounts, such as Milibet (mBTC), which are a fraction of an entire Bitcoin.
This makes it an accessible option, even for those with smaller betting bankrolls.
New Bitcoin cash is mined using computers. Miners use the processing power of their machines to solve complex mathematical functions, arriving at a unique 64-digit number.
These can then be bought, typically via a cryptocurrency exchange which allows the buyer to store this software or spend it via an online wallet.
How are Transactions Made?
Once someone has purchased Bitcoin, they can use it to buy goods or services.
Bitcoin owners who want to bet online can transfer to another wallet using an encrypted transaction to their bookie of choice. Once received, the betting site adds credit to the players’ account, as they would with the transfer of traditional currency through Skrill or Neteller and other banking methods.
Advantages of Bitcoin Betting Sites
Choosing to use Bitcoin as a way of funding your sports betting in India comes with some advantages.
- ✅ Legal in India
- ✅ Additional security compared to other deposit options
- ✅ Avoids currency exchange fees
- ✅ Less personal information required
- ✅ Specific Bitcoin bonuses with some betting sites
Disadvantages of Bitcoin Betting Sites
As with every type of banking method, there are some disadvantages that should be considered before you commit to using Bitcoin for online cricket betting.
- ❌ Not accepted everywhere
- ❌ Requires a specific cryptocurrency wallet
- ❌ Value can go down as well as up
Bitcoin betting sites are growing all the time.
Some of the best bookies in India are now allowing players to enjoy cricket betting with Bitcoin.
The best even have specific Bitcoin betting bonuses just for those using the cryptocurrency.
Bitcoin Betting Sites – Frequently Asked Questions
Q. Can I Bet with Bitcoin?
A. The best Bitcoin betting sites accept the cryptocurrency to make deposits. This means you can enjoy cricket betting with Bitcoin as well.
Q. Is Bitcoin Legal in India?
A. Yes, Bitcoin is legal in India and is trusted and safe. It is a good option for betting online.
Q. Can I Get Bitcoin Betting Bonuses?
A. Yes, the best sites welcome cricket betting with Bitcoin. They have special Bitcoin bonuses and promotions.
Q. How Do I Fund My Betting Account with Bitcoin
A. You can fund your online betting account with Bitcoin like you would with any currency. It takes just a few simple steps.
Q. How Do I Withdraw my Bitcoin Winnings?
A. It is a quick and simple process to withdraw Bitcoin from your betting account to your crypto wallet. The process is almost instant.
Q. Can I Buy Bitcoin for Betting?
A. Yes, you can buy Bitcoin through a number of different exchanges. Once you have the crypto in your Bitcoin wallet you can then deposit it to your online bookie.