Bitcoin Betting

Cryptocurrencies have taken the world by storm and have been making headlines ever since 2009 when Bitcoin hit the market. It didn’t take long for two great concepts to merge and create what we know as crypto online betting.

These days, punters from India have access to top-class online sportsbooks that let them bet with coin. The possibilities are plenty, but Bitcoin remains the most popular and common option.

Instant transfers, anonymity, and convenience are among the main reasons behind the rise of crypto cricket betting.

Would you like to learn more? Well, you’ve come to the right place! Scroll down to learn all about betting with Bitcoin and other cryptocurrencies.



What is Bitcoin and How Does it Work?

Digital currency, internet currency, virtual currency, cryptocurrency. All these terms are used to describe coins that exist on the internet only. These are independent currencies that aren’t overseen by any official financial institutions.

Bitcoin was the first cryptocurrency to hit the market in 2009. It was followed by a range of other virtual currencies such as Litecoin and Ripple pretty soon. Every digital currency has its own price, which is quite volatile.

Depending on where you live, buying, selling, or trading cryptocurrency may be illegal. In March 2020, the India Supreme Court removed the two-year-old ban on trading with crypto. The Reserve Bank of India imposed this ban back in April 2018 and made it illegal for consumers to bet with coin. Luckily, things have improved, and the country is now open for the crypto revolution.



BENEFITS OF USING BITCOIN FOR ONLINE
BETTING

More and more punters from India decide to bet with coin. This didn’t happen accidentally. On the contrary, there are numerous advantages of bookmaking with Bitcoin and other cryptocurrencies. Discover the top ones below.

  • Instant transfers. Cricket betting can sometimes be annoying due to the lengthy deposits and withdrawals. That’s not an issue for those who bet with coin as crypto transfers take seconds only. That’s right. You’ll have your coins on your betting account instantly.
  • Anonymity. Forget about annoying KYC procedures and credit card statements. When you bet with Bitcoin and crypto, you don’t have to provide any of these details. Anonymity has always been a top benefit of cryptocurrencies. It lets you enjoy the betting experience without wondering whether someone might steal your card info.
  • Exclusive bonuses. Many cricket bettors from India think that BTC or crypto payments will limit their access to bonuses and promotions. That’s far from the truth, actually. Online cricket bookies not only pamper their crypto punters, but they have exclusive deals for them, as well.
  • Higher limits. Do you hate those low deposit and cashout limits that force you to upload cash multiple times? We surely do. Well, forget about them altogether as Bitcoin cricket betting comes with high or no limits at all. Deposits over $5,000 are a reality thanks to crypto transfers.
  • Widely accepted. Unlike prepaid vouchers and some e-wallets, cryptocurrency is widely accepted. It’s fair to mention that Bitcoin is the most widespread one, which isn’t the case with some new names. Still, it’s good to know that you can use your crypto to pay for various services and products online.

3. POSSIBLE DRAWBACKS TO KEEP IN MIND

Cricket betting with Bitcoin and other crypto coins is a great concept, but it’s not a perfect one. Below, our Crictips team will list the most significant disadvantages of BTC cricket betting.

  • Price volatility. Price volatility remains the number one issue for all cryptocurrencies. A small market disruption or a change in legislation can cause the price to flop. For example, in June 2020, BTC’s price dropped by 8% in less than five minutes. You shouldn’t overlook this, especially if you’re new to the world of betting with coin.
  • Fees. Another serious drawback is the high exchange fees. This shouldn’t be an issue if you plan to store and spend your cryptocurrency as such. If you constantly exchange the coins, you’ll end up spending a fortune on fees. The exchange charges at most exchanges range between 4% and 6%. These fees often vary depending on the amount you exchange and the method you use.
  • Security and restrictions. There’ve been lots of cyberattacks targeting crypto companies. These hackers end up stealing stored coins, effectively leaving users with empty crypto wallets. So, protecting your cryptocurrency may require cold storage, which can be a hassle for some players. As for restrictions, we refer to national regulations that can ban Bitcoin and all other cryptocurrencies overnight.

4. WHAT TO EXPECT WHEN BETTING WITH BITCOIN?

If you love internet betting on cricket, you’ll love crypto cricket betting equally. The reason is obvious – everything works the same. Bitcoin is simply a banking method. Meaning, just like betting with a credit card or e-wallets doesn’t affect the actual experience, crypto bookmaking won’t either.

As long as you know the advantages and drawbacks that come with the concept, you’re good to go. In fact, some leading crypto bookmakers in India have exclusive bonuses for their BTC punters. So, you may receive a nice bankroll boost just for using your favourite cryptocurrency at the end of the day.

6. HOW TO DEPOSIT WITH BITCOIN AND OTHER CRYPTO IN INDIA

If Bitcoin cricket betting sounds good to you, it’s time to learn how to partake in the activity. The process of purchasing and then depositing crypto coins is simple and fast. Below, we created a step-by-step guide to make everything even easier for you.

  • STEP 1Before purchasing your first BTC or other crypto coins, you need somewhere to store them first. For that purpose, you need a reliable crypto wallet. Indacoin, Unocoin, and Coinbase are among the best options for bettors from India. Millions of consumers worldwide use these wallets to store their cryptocurrency securely.
  • STEP 2Most crypto wallets let you purchase coins directly from their platform. You simply select the cryptocurrency you want to get and enter the amount of money you want to invest. Within seconds, the transfer will be completed, and you’ll have your coins.
  • STEP 3Naturally, the next step is to join a betting site from our list. All these are renowned crypto bookmakers with an excellent cricket betting offer.
  • STEP 4Initiate the deposit process from the cashier. This may vary depending on where you bet. Usually, once you visit the cashier, you can choose between ‘Deposit’ and ‘Withdrawal.’ When you click on one of the options, you get to pick the method. In this case, that’s Bitcoin or any other cryptocurrency you prefer.
  • STEP 5Next is entering the transfer amount and completing the transaction. Please make sure to enter the correct details and crypto wallet addresses. Cryptocurrency transfers aren’t reversible. If you make a mistake, you’ll lose the coins.
  • STEP 6Finally, your funds will arrive within seconds. From this moment, you can start betting on your favourite cricket events and claim generous bonuses.

7. BEST CRICKET BETTING SPORTSBOOKS
THAT ACCEPT BITCOIN AND CRYPTO

Ever since the Supreme Court removed the ban on crypto betting, many bookies enable this banking method. Yet, not all of those deserve your attention. In fact, finding reliable and top-quality Bitcoin betting sites is an overwhelming task, especially for rookies. That’s when our Crictips expert team enters the picture. We’re here to guide you to the best cricket betting bookmakers for players from India.

8. HOW WE PICK THE BEST CRICKET ONLINE
BOOKMAKERS LISTED HERE

We have a strict evaluation methodology for choosing the best cricket bookies for our readers from India. Here are the features we appreciate at Bitcoin betting sites.

  • We trust established brands that don’t have negative reviews and numerous unresolved issues.
  • They welcome bettors from India.
  • They have lots of bonuses and promotions for cricket fans.
  • Mobile-friendly platforms.
  • Support live betting, while live-streaming gets them extra points.
  • Professional customer care.
  • Licenses and certificates are welcomed.


9. TOP BOOKIES TO JOIN

Without further ado, here are our top picks:

Sportsbet

This bookie was founded in 2016 and has established itself as a top spot for bettors from India. Sportsbet.io supports seven cryptocurrencies, including Bitcoin, Litecoin, and Ethereum. The sportsbook features a plethora of sports, virtual sports, and horse racing. Naturally, it offers betting on cricket, as well.
At the time of this writing, punters could place bets on the Indian Premier League and the National T20 Cup. Sportsbet.io offers in-play betting but, unfortunately, doesn’t have live streaming of cricket matches.

JOIN NOW!

Established in 2016, 1xbit.com is among the newer sports betting sites in the industry. The bookie welcomes players from India and supports crypto payments. In fact, this bookmaker works with eight cryptocurrency exchangers, including LocalBitcoins, BitValve, and Coinmama.
This is an excellent spot for BTC cricket bookmaking, and the site has a separate filter for this. 1xbit.com has over 170 cricket events and features Indian Premier League, Pakistan SuperLague, Super Smash, and more.

22Bet

22bet.com is among the newer crypto betting sites for Indian bettors. The sportsbook was established in 2018 and is already immensely popular among consumers. Bitcoin, Tether, Eos, and Dogecoin are among the 25 cryptocurrencies supported by the bookie.
22bet offers sports and live betting on over 160 cricket events. Besides the Indian Premier League, bettors can place bets on Big Bash League, Ford Trophy, and many other major championships.

JOIN NOW!

10. FINAL THOUGHTS

Betting on cricket with Bitcoin and other cryptocurrencies comes with numerous advantages. The concept is convenient, fast, and less restrictive compared to other banking options. There are, however, some drawbacks that you may want to consider before moving forward with your first Bitcoin deposit.

In any case, we had a great experience at all the best Indian crypto betting platforms. All of the bookies have a fantastic selection of events and sleek platforms. Above all, all the transactions went smoothly and enabled us to place bets merely minutes after registration.

Would you like to bet with coin at the leading internet sportsbooks? If so, now’s the time to join one of our recommended sites and grab a superb welcome treat along the way.

Choose your bonus: