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5 Best Places to Bet with Bitcoin

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places to bet with Bitcoin

It seems like BTC is always making headlines for one reason or another.

When the market points towards bullish behavior Bitcoin is all the rage. When there is so much long action (going on right now) and then the price plummets, BTC also dominates the headlines. The same goes for legislation and when any new crypto product or platform comes out. It’s always compared against BTC.

So with BTC fever in full swing, sportsbooks around the world have adopted digital currencies as one of their main forms of funding accounts and paying out winnings. And with sports betting legalized in states across the USA, both BTC and legal online gambling are in the limelight. 

But where are the best places to bet using BTC and other cryptos? Furthermore, why would you want to use BTC, LTC, or Ethereum in this manner?

The Why

The principal reason why you would want to use cryptocurrencies in your ‘sports investing’ ventures is speed, cost, security, and bonuses.

When you use cryptos like BTC (BTX) to move money in and out of your account. You bypass the standard centralized banking system which drastically improves on both the speed of the transaction and the cost of the transaction – this is especially true with payouts. 

Essentially, you can get your money into your account much faster – which comes in handy if you are opening up a new account because that particular shop has a better betting line than most of the competition. Conversely, because you are not subject to international bank transfer fees when dealing with an offshore book, the transaction is much, much cheaper. It’s for these reasons that most sportsbooks charge a withdrawal fee for normal payment transactions and they can take up to a week to place your winnings into your account.

With BTC this happens in a matter of minutes and there are no payout fees. This leads us to security. It takes a long time to fund and withdraw because the sportsbook has to verify exactly who you are and make sure there is nothing fraudulent going on. The bank then does the same. In contrast, BTC is set up on blockchain, which makes fraud virtually impossible. So, the money simply goes from wallet to account or account to wallet in as little as 12 minutes. 

But what about Bitcoin’s volatility?

With sportsbooks, you don’t have to worry about BTC’s volatility. When you purchase coins and add them to your wallet if you immediately transfer them into your bookmaker’s platform, the book will instantly convert the BTC into Dollars/Euros/Pounds –depending on the book. So, you avoid the possibility of a BTC market-fall. This means that not only are your transactions secure on the blockchain, making it virtually impossible for you to be cheated by the sportsbook, or for you to cheat the sportsbook, but you don’t have to worry about BTC market because you are always going to get the current market equivalent in you preferred currency.

The bonuses are great as well because many sportsbooks offer extended or additional bonuses for using BTC to fund your account – up to 100% cash on your deposit amount.

The Where

Most major sports betting websites now accept BTC. So, if you are looking for where to place bets with Bitcoin, you won’t have to look very hard. That said, some sites are better than others and we’ve whipped up a shortlist for of the best BTC-ready sportsbooks that are confirmed to convert and hold your crypto deposits in USD.

Bovada 

Bovada is an A+ rated site with just a $10 deposit minimum and a 50% cash bonus. 

Bookmaker 

Bookmaker has been around since the year 2000, and they offer a 100% cash bonus with a minimum deposit of just $10 or the BTC equivalent.

5Dimes

5Dimes is another long-standing book that’s been in business since 2000. They have a $100 dollar minimum deposit, but no maximum on their payouts.

BetOnline

BetOnline allows $3500 payouts per transaction and offers 50% free play on a minimum deposit of $20.

Heritage

Heritage has a $25 minimum BTC deposit and no max payout. And they offer 50% cash bonuses on your overall deposit amount.

There you have it. Why you should use cryptocurrencies for your sports betting ventures and where to do so. Have fun, and remember to pick your spots wisely and bet with caution!

Bitcoin

Bitcoin Price Dumps Below $41,000 Amid Uncertainty

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Bitcoin price dumped hard on Monday, briefly slipping below $41,000, erasing gains recorded in the previous week. The premier cryptocurrency seems to have exhausted its recent rally propelled by industry vulnerabilities. At the time of writing, the world’s largest cryptocurrency was trading slightly lower at $41,385. Bitcoin’s total market cap has dipped by 2% over the past day, while the total volume of BTC tokens traded over the same period climbed by 58%.

Fundamentals

Bitcoin price has been facing retracements and a rollercoaster over the past few days after recently rocketing to a 20-month peak. On-chain data has suggested that many investors used the opportunity to take some profits, leading to a decline in the asset’s price.

Bitcoin’s price slump is mirrored in the wider crypto market, with the global crypto market cap decreasing by 1.85% over the past 24 hours to $1.55 trillion. The total crypto market volume has increased by 32% over the same period. The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.

Ethereum, the largest altcoin by market capitalization, is currently trading at $2,167, down almost 3% for the day. Meme coins have been hit hard by the market slump, with Dogecoin and Shiba Inu down by more than 4% over the last day.

Last week on Thursday, cryptocurrency experts took notice of…

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Bitcoin

Bitcoin Price is in Consolidation Mode Despite Market Optimism Post-Fed Decision

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Bitcoin price edged lower on Thursday despite optimism in wider markets on the back of the Fed’s interest rate decision. The flagship cryptocurrency has been consolidating above the critical level of $42,000 after briefly topping $44,000, its highest level in 20 months. Bitcoin was trading 0.71% lower at $42,569 at press time. BTC’s total market cap has increased by more than 3% over the last day to $832 billion, while the total volume of the asset traded over the same period jumped by 22%.

Economic Outlook

Bitcoin price has been trading sideways over the past few days, suggesting a pause in its recent rally towards $45,000. The premier cryptocurrency has decreased by 4% in the past week but remains 15.22% higher in the month to date. The digital asset has staged a significant recovery this year after a torrid 2022 in which a string of scandals, including the collapse of FTX, led to a market meltdown, undermining the credibility of the sector.

The crypto market has been buoyed by the Fed’s latest interest rate decision. The US Federal Reserve on Wednesday held its key interest rate unchanged for the third consecutive time, in line with market expectations. With the easing of the inflation rate, members of the Federal Open Market Committee (FOMC) voted to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.

Additionally, the central bank indicated that three rate…

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Bitcoin Price Blasts $44K in Spectacular Surge as Spot Bitcoin ETF Approval Looms Large

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Bitcoin price has been hovering above the $43,000 psychological level over the past two days amid anticipation about the potential approval of a spot bitcoin ETF. The flagship cryptocurrency has climbed more than 16% in the past week and nearly 170% in the year to date. Bitcoin’s total market cap has increased by nearly 5% over the past 24 hours to $858.9 billion, while the total volume of the token traded rose by 43%. The Bitcoin price was trading at $43,914 at press time.

Fundamentals

Bitcoin price has posted significant gains over the past few days, climbing to its highest level since April 2022, before the crash of a stablecoin that started a litany of company failures, pummeling crypto prices. The world’s largest cryptocurrency briefly topped the crucial level of $44,000 on Wednesday amid rising momentum despite being massively overbought.

According to analysts, with no spot bitcoin ETF approvals yet and the halving event five to six months away, the market is riding on FOMO. Capital has been flowing in the Bitcoin market amid enthusiasm that the launches of spot ETF will bring in billions of dollars of new investment into the crypto sector.

Investors have already started providing capital as seed money for ETF products. Notably, a recent report by CoinDesk showed that the world’s largest fund manager, BlackRock, received $100,000 in capital from a seed investor for its spot bitcoin exchange-traded fund…

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