Getting Started with Cryptocurrency: Everything Bettors Need to Know

Bookmakers Review
March 3, 2025

In recent years, cryptocurrency has become a game-changer in many industries, including online sports betting. Offshore sportsbooks have embraced cryptocurrency, offering bettors an easy pathway to deposits and withdrawals.

Why? Because crypto provides speed, security, and privacy that traditional banking methods often can’t match. For bettors tired of delays, high fees, and intrusive bank restrictions, cryptocurrency is quickly becoming the preferred payment method for their online sports betting transactions.

Traditional payment methods like credit cards and bank transfers can be riddled with challenges when used for offshore sportsbooks. These pain points include:

Fees: Banks may charge cash advance fees of up to 20% or add foreign transaction surcharges of 3% of the transaction.
Delays: Deposits and withdrawals can take days to process.
Rejections: Transactions are sometimes outright blocked by banks for flagging the merchant as potentially being fraudulent.
Lack of Privacy: Using traditional banking methods exposes sensitive financial details such as your account number, routing number, or card details.

Cryptocurrency eliminates these frustrations. Deposits and withdrawals are processed free of charge, and are completed in minutes, not days. This allows bettors to focus on their sports handicapping instead of sweating the banking process.

How to Get Started with Cryptocurrency for Sports Betting

Getting started with cryptocurrency is simpler than you might think. Follow these steps to join the growing number of bettors enjoying its benefits:

Choose a Cryptocurrency Exchange:
Popular platforms include Coinbase, BitStamp, and Kraken.
Sign up, verify your identity, and secure your account with two-factor authentication such as the free tool Google Authenticator. You will need to enter this code whenever you log-in to your account.
Buy Your First Cryptocurrency:
Bitcoin is the most widely accepted cryptocurrency among sportsbooks, but alternatives like Ethereum and Litecoin are also common.
Link your bank account or debit card to purchase cryptocurrency. Typically, linking bank accounts allows bettors to purchase a larger amount of cryptocurrency in a single transaction.
Set Up an Intermediary Wallet for Transactions with Sportsbooks:
Use a personal wallet like Blockchain.com for added privacy. This reduces the risk an exchange like Coinbase (which has terms and conditions restricting its usage for online sports betting) would close a user’s account. However, even if a user’s Coinbase account was closed, their bitcoin would still be safe and able to be transferred into another wallet.
Transfer Funds to the Sportsbook:
Send cryptocurrency from your wallet to the sportsbook’s wallet address.
Always double-check wallet addresses before completing transactions. Copy and paste the address given by the sportsbook, or scan a QR code with your mobile device and you’ll be done quickly.

Which Offshore Sportsbooks Are Best for Cryptocurrency Users?

The trusted offshore sportsbooks rated by Bookmakers Review and displayed in the list below are leaders in cryptocurrency integration, offering seamless deposits, withdrawals, and in some cases special bonuses for crypto users.

Heritage Sports

86 Ratings

Heritage Sports is among the best offshore betting sites, known for its wide range of betting options and VIP service. It offers a comprehensive live betting platform with hundreds of daily bets, making real-time betting easy and exciting. Heritage Sports caters to both mainstream and niche sports markets, appealing to a variety of players.

Key Features:

Competitive reduced juice odds at -108
Comprehensive live betting options

Signup Bonus:

20% Cash Welcome Bonus up to $500

Heritage Sports Player Review

BigJay

Got a $50 birthday free play

Reviewed on March 1, 2025

Verified Player

Best book with freebies right now. Far and away.

BetAnySports

87 Ratings

BetAnySports is popular with bettors for their -105 reduced juice lines, offering savings behind every wager placed. BetAnySports offers competitive odds across various markets, including moneylines, futures and props, covering a wide range of sports.

Key Features:

Best reduced juice lines at -105
Quick and reliable payouts

Signup Bonus:

150% Free Play Welcome Bonus up to $250

BetAnySports Player Review

blindside

I’ve hit some nice futures here

Reviewed on March 1, 2025

Verified Player

Had an Eagles and Buckeye future and already have a few on the NBA and golf for later in the year.

MyBookie

43 Ratings

MyBookie is a great choice for bettors looking for a hassle-free experience and an impressive selection of betting markets, both with American sports as well as international events. The site works seamlessly across mobile devices and is one of the more polished sites serving U.S. bettors.

Key Features:

Robust live betting platform

Signup Bonus:

100% Free Play Welcome Bonus up to $1,000

MyBookie Player Review

blindside

Nice bonuses

Reviewed on March 1, 2025

Verified Player

They had several good offers when I signed up. Didn’t win with first deposit but I did the next time and got paid

BetOnline

90 Ratings

BetOnline is popular with players for their opinionated lines, a slick betting interface, and competitive parlay and teaser payouts. The sportsbook prides itself on treating all players like VIPs and scores highly on the efficiency of their customer service department.

Key Features:

Opinionated Lines
Broad range of bonus offers

Signup Bonus:

Up to $250 in Free Bets with $500 Deposit

BetOnline Player Review

juiceisloose

Awesome sign up promo

Reviewed on March 1, 2025

Verified Player

Got $250 promo and turned it and my original deposit into a $1,200 profit. KYC was simple and got paid easy

Bovada

96 Ratings

Bovada is one of the original offshore sportsbooks. They set a new standard for customer service that helped revolutionize the offshore industry.

Nowadays Bovada is best known for their superior mobile app and large variety of political and entertainment bets. Bovada’s bonuses and aggressive rewards program remains among the best.

Key Features:

An intuitive, user-friendly mobile interface
An expansive range of betting markets

Signup Bonus:

75% Crypto Welcome Bonus up to $750

Bovada Player Review

juiceisloose

Everything you need is a touch away here

Reviewed on March 1, 2025

Verified Player

Everything I’m looking for is right on the home page. One or two clicks and my bet is made. A huge difference for live betting when you don’t have to search around

Bookmaker

83 Ratings

Known as being where the betting line originates, what sets BookMaker apart from the rest of the pack is their high betting limits and appetite for sharp action. BookMaker welcomes bets from high rollers and recreational bettors alike and offers a popular loyalty program.

Key Features:

High betting limits
Renowned loyalty program

Signup Bonus:

25% Cash Welcome Bonus up to $500

Bookmaker Player Review

blindside

Great out for UFC

Reviewed on March 1, 2025

Verified Player

Huge limits on UFC and boxing props. And they pay up to $25k daily no questions if you hit big

Everygame

72 Ratings

Everygame offers attractive bonuses, including sign-up bonuses and loyalty rewards, adding extra value to your bets. With its comprehensive market coverage and slick mobile experience, Everygame is a solid choice for bettors looking for another account to add to their rotation.

Key Features:

Variety of promotions
Excellent customer service department

Signup Bonus:

Up to $500 Sign-Up Bonus

Everygame Player Review

juiceisloose

Been paid several times last few months

Reviewed on March 1, 2025

Verified Player

I don’t play big $$ here but when I win I don’t worry about getting paid. Been around since Intertops days

Potential Issues and How to Mitigate Them

While cryptocurrency offers many benefits,there are some factors to consider. Here’s how to navigate potential challenges:

Volatility: Crypto prices can fluctuate significantly. Choose sportsbooks that convert deposits to USD to stabilize your betting funds. The betting sites displayed previously all do so, but sites such as Nitrobetting.eu maintain deposits in bitcoin, which means that bettors may lose some of their wagering profits as the price fluctuates.
Security: Use secure wallets such as the exchanges mentioned and avoid exchanges without proven track records.

Debunking Myths About Cryptocurrency in Sports Betting

Let’s address common misconceptions:

“Crypto is too complicated.”: With a little guidance, anyone can purchase and use cryptocurrency. Modern wallets and exchanges make it easy for beginners to get started. Bookmakers Review staff are also available to help guide users through the process of purchasing and selling bitcoin; simply write to help@bookmakersreview.com if you require assistance.
“Crypto is illegal.”: Cryptocurrency itself is legal in most countries, and using it for offshore betting is perfectly legal.

Conclusion

Cryptocurrency is revolutionizing the sports betting experience. Its speed, privacy, and cost-effectiveness make it a superior option for bettors navigating the challenges of offshore sportsbooks. By following the steps outlined above, you can confidently make the switch to cryptocurrency and enjoy a more seamless betting experience.