New banking methods are emerging all the time with online bookmakers. One of the most popular in India is Bitcoin betting. Cryptocurrency such as Bitcoin – sometimes called BTC for short – allows funds to be stored digitally and sent around the world instantly. Several betting sites who 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.
This page will tell you everything you need to know about gambling using this digital currency. That includes the best Bitcoin gambling sites, bonus offers and promotions that are available, how cryptocurrency works and much more.
Not all betting sites accept Bitcoin, but several of our top-rated bookmakers do. There are plenty of other banking methods of course, but BTC is an emerging option for gambling and many other industries. If you’re already involved in cryptocurrency then being able to use it for betting or at online casinos is great news.
It’s great to see betting sites in India embracing new technology such as Bitcoin. We rate Dafabet as one of the best options for gambling on cricket. The range of banking options available is huge and includes cryptocurrency, Skrill, Neteller and more. With great odds, both pre-match and while games are going on, we’re confident you’ll have a good experience with them as an Indian resident. Looking for more information? We have a comprehensive Dafabet review which includes more details on their Bitcoin bonuses and promotions.
You may have heard the term “cryptocurrency” before but are perhaps wondering how does it work? 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. Online wallets allow the transfer of funds from peer-to-peer in an anonymous way. Plus, funds can be cashed out from the wallet to, back to your bank account. There is no need to give your financial details to the other party involved. This safety feature has seen an interest in crypto surge over the past few years.
Transactions are encrypted, only involving the person sending and receiving the funds. However, there is a public record, sometimes known as the “blockchain” which allows them to be verified by the network of computers around the world.
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 betting or any other purpose. They 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 are mined using computers. Miners use the processing power of their machines to solve complex mathematical functions, arriving at a unique 64-digit number. This can be a lot of work because the process is essentially making many, many guesses in order to arrive at the right number in the end. 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. Many of these also have a mobile version, so you can access them via your smartphone or tablet.
Once someone has purchased Bitcoin, they can use it to buy goods or services. Plenty of betting sites now accept this method of payment. Transactions require both parties (the sender and the receiver) to have an online wallet capable of storing the currency. Bitcoin owners, for example, a bettor 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.
While only the two parties involved in the transaction can see the details of what is being sent, and to whom, there’s a central ledger kept of Bitcoin transactions. This Blockchain is used to verify transactions and ensures that the currency in question isn’t being spent multiple times. The same way that once you hand money to a cashier in a store, you’re unable to go and spend that same exact currency again immediately. These bitcoin wallets such as Coinify or OpenNode also allow Bitcoin to be converted back into traditional currency and withdrawn to a bank account of your choice. For the
Here’s a brief overview of the stages when it comes to creating and using a currency like Bitcoin.
Cryptocurrency has grown in popularity in India since in recent years. The country’s Supreme Court handed down a ruling in March 2020 that essentially legalised digital currency such as Bitcoin. Previously, there was a directive that allowed banks not to offer services to those who were involved in cryptocurrency. This development is a welcome change and should mean even more betting sites welcome customers wishing to use crypto as their payment method in the coming months and years. It makes bitcoin gambling a viable option for residents who might not have considered it previously.
Bitcoin has become more and more accepted by betting sites in India recently. In fact, several of our top-rated bookies even have specific deposit bonuses and promotions for customers who deposit using the cryptocurrency. Knowing about these will help you get even more from your bookmaker, claiming bonus funds just for adding funds as you would normally. Here’s what you need to know as well as our favourite Bitcoin bonus.
One of the reasons we rate Dafabet so highly for cricket betting in India is its wide range of banking methods. These include BTC and other cryptocurrencies. Indeed, there’s even a specific Bitcoin welcome offer for new players. This is available even if you’ve already got a sports betting account with them that is set to Indian Rupees. It enables customers to claim up to 10 mBTC (Milibit) in bonus when making a deposit. These additional funds work in a similar way as a free bet. Here’s how to get involved as well as the important terms and conditions, especially those regarding the rollover requirements of any bonus.
Here’s a step-by-step guide to claiming this promotion
10Cric are another betting site that offer a great experience in India. That’s because India is their only focus right now. That’s correct, 10Cric is an exclusive bookmaker for Indian customers. This means you’re guaranteed plenty of markets and odds on the biggest sports including cricket, hockey, kabaddi and more. There are dozens of sportsbook markets available in-play, so you can place a bet anywhere, anytime.
They have a Bitcoin welcome bonus too. This matches your first deposit using the cryptocurrency at 100%, up to 30mBTC. This offer is available to anyone, not just new customers. So, if you’ve got BTC in an online wallet and want an extra bankroll boost in the form of this bonus, why not give it a try? 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. Bets with odds of at least 1.60 (3/5) count towards this process. Terms and conditions apply. Check out our 10Cric review for more information about this and other promotions.
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. This can simply be done by giving the details of the online wallet where any Bitcoin is stored, and making the transaction that way. This extra privacy and security will be popular in every industry, including gambling.
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. In order to bet with some other companies, you may need to do so in Euros, US Dollars or Pounds Sterling. That’s not the case with cryptocurrency though. The value of Bitcoin itself can change, but it doesn’t need to be converted at all. Plenty of bookmakers accept deposits in Indian Rupees, but crypto is another option for avoiding additional fees when making transactions in your betting account. Use an MBTC to INR converter to help you with this calculation.
Yes, it’s not just sports betting that is an option. Bitcoin is also accepted by some online casinos in India. Whether it’s your favourite slots, progressive jackpots, table games or any other casino option, cryptocurrency is a welcome payment method with plenty of operators. Bitcoin gambling isn’t just for sports bettors, there’s a world of possibilities including casino games available.
Although not accepted everywhere, Bitcoin (BTC) is growing in popularity as a banking method for betting sites in India. It allows digital currency to be transferred from peer-to-peer and is very safe because of the encryption included. Several of our top-rated bookmakers accept Bitcoin and some have specific bonuses for Cryptocurrency deposits. With BTC now being an approved option by India’s Supreme Court, we expect to see plenty more bookies and online casinos accepting offering Bitcoin gambling in the months to come.
In March 2020, India’s Supreme Court struck down a ruling which made it difficult to use cryptocurrency. Now, with businesses and customers able to use crypto as a banking method for gaming, this could become extremely popular, especially with online betting sites and casinos.
Yes, you can bet with Bitcoin in India. Some of our top-rated betting sites accept deposits and withdrawals using cryptocurrency. This allows you to avoid any foreign exchange fees on currencies like US Dollars or Euros.
Bonuses are very popular with online betting sites. Some of them even have specific Bitcoin promotions. The best option currently is with Dafabet. They have a Bitcoin first deposit bonus where new players can claim up to 50% extra bonus funds, up to 10 mBTC. Terms and conditions apply.