Sports betting with cryptocurrencies like Bitcoin, Ethereum or Litecoin has become extremely popular over the past couple of years due to efforts by governments in Australia and the United States of America to curb online gambling. They have prohibited banks and other financial institutions from facilitating deposits and withdrawals from online sportsbooks, poker rooms and casinos. This has led to a huge surge in the popularity of bitcoin bookmakers and other gambling sites because it is impossible to stop players from using bitcoin to fund their betting accounts.
Like any new technology, cryptocurrencies can take a little while to get your head around. Many would-be bitcoin gamblers haven’t given them a try because they simply don’t know where to start. To make life easy for newbies, we’ve put together this list of the 3 most important iPhone and Android apps you need to start sports betting with bitcoin.
WALLET – BLOCKSTREAM GREEN
Before you make your first bitcoin purchase, you will need to download an app where you can store your coins. Bitcoin wallets allow you to send and receive bitcoin and they function similarly to apps like Venmo, PayPal or Neteller. You simply scan a bar code or cut and paste a bitcoin address to send the cryptocurrency.
Our favourite bitcoin wallet for sports bettors is “Blockstream Green”. This iOS and Android app are beautifully designed with a layout similar to conventional payment apps so it’s perfect for beginners. Beneath the hood, the app also offers some advanced features like Two-Factor Authentication, fee control and spending limits. The Blockstream Green app can be downloaded from the iTunes App Store or Google Play.
BUY – CASH APP
Once you have installed your bitcoin wallet app, you’ll want to buy some bitcoin so you can start wagering on the NFL, NBA or any other sport with crypto. If you try to create an account with any of the popular cryptocurrency exchanges like Coinbase, BitStamp or Kraken, they will likely ask you for a ton of KYC/AML documentation and you may have to wait weeks for the process to complete.
Because of this, we recommend that bitcoin gamblers simply use the Cash App from Square that is the No.1 finance app in the U.S. iTunes App Store. At the end of 2017, the Cash App already had 15 million active users and you don’t need to go through any long-winded approval process. Simply download the app, add your credit card and you can start buying bitcoin instantly in just a couple of clicks.
It is important not to send your newly purchased bitcoin directly from the Cash App to your sports betting account because Cash App does not permit the purchase of bitcoin for the purposes of online gambling. Instead, send it to the Blockstream Green wallet you have already installed on your iPhone or Android.
START CRYPTO SPORTS BETTING
Now we get to the fun part. Once the bitcoin is safely stored in the wallet app on your smartphone, you can start thinking about which mobile bookmaker you want to use. Bitcoin sportsbooks come in two flavours. Sites like Nitrogen Sports and CloudBet only accept bitcoin and all wagering is done in the cryptocurrency. Major offshore bookmakers like BetOnline and 5Dimes allow you to deposit with bitcoin and then immediately convert your cryptocurrency to dollars.
We recommend you use a reliable guide to iPhone sportsbook apps to help you find the one that best suits your needs. If anonymity and a quick sign-up process is your priority, then you should use crypto-only gambling apps. If you prefer to gamble at well-known brands and don’t mind providing some identification to the sportsbook, then you should opt for crypto-friendly bookies like Bovada.
Because cryptocurrency sports betting is relatively new and most the companies operate offshore, you won’t find any bitcoin betting apps in Google Play or the iTunes App Store. Instead, you’ll have to browse to their websites to access their browser-based apps.