eSports Crypto & BTC Betting Sites

eSports Bitcoin betting is precisely what the name suggests. Players can bet on different eSports events using cryptocurrency as their stake. Different sites will offer various cryptocurrencies, but the common denominator is crypto funding the bets.

While eSports is still a niche betting option to the broader public, it’s seen significant growth within the crypto world. Part of this is due to crypto being an early adopter of eSports. In addition, many traditional sportsbooks ignored the potential of eSports for a long time. As a result, crypto sportsbooks have a higher takeup of crypto bettors for eSports. The statistics back this up, as economists predict the market to grow from $1.22 billion in 2021 to $5.48 billion by 2029.

It’s almost the perfect marriage of two industries when discussing eSports and cryptocurrency. Moreover, because both are growing industries, there’s a lot of room for expansion. eSports first saw support from crypto sportsbooks, which went a long way to providing some legitimacy. Many esports bookmakers were unwilling to offer eSports betting initially due to mistrust. As the crypto community has seen similar, unfair treatment, it made sense for crypto sportsbooks to help facilitate growth.

With both industries thriving, it was a sensible choice for crypto sportsbooks to provide it. With crypto and eSports both making their way to traditional betting sites, the mutual benefits are clear.

eSports betting is a type of gambling where punters place bets on competitive online computer sports events such as League of Legends, Valorant, or DOTA 2. Crypto esports betting is the next step in adopting crypto in gambling, but it is still a relatively new development. That being said, not many people know much about it, how it works and how it differs from traditional eSports betting. 

The most significant difference between eSports crypto betting and traditional is the currency used. The former uses cryptocurrencies, while the latter uses conventional currencies like Dollars or Euros.

No chargebacks 

Players can sometimes be sneaky and make a chargeback if the outcome of the game is not in their favor. With crypto eSports gambling, you can’t request a chargeback to your card. All crypto transactions are permanently stored on the blockchain. Once you’ve placed a bet, the smart contract is executed, and the payment is final.

Stable Currency 

One of the biggest drawbacks of cryptocurrencies is the volatility of their values. The value of cryptocurrencies is constantly changing. While this change can benefit you, it leads to losing the value of your bet. Considering the drop in crypto tokens, your winnings after a bet will be lower than they were before the bet or too low to be worth it. In traditional, the value of a bet is stable, and even if changes occur, they aren’t significant enough to impact the end value of your bet.

Bonuses and Reward 

The former always offers players more bonuses and rewards. That’s because cryptocurrency transactions don’t require a lot of money to process, which leaves some extra money for the betting sites. They give out some percentage of this money as bonuses and promotions. 

Regional Restrictions 

Gambling has its regional restrictions as some countries consider it illegal to gamble. Sites restrict players from these regions because of these laws. If a site notes that your IP address or bank is situated in one of these regions where they are operating under the radar, players in a specific country will not be able to place bets on eSports games. In traditional betting, it’s easy for sites to make these decisions because of the currency and payment methods. It isn’t so for crypto. Players can bet anonymously and not be included in national or local regulations.

Transaction Fees 

Traditional websites spend a lot of money on transaction fees. This is because there are transfer protocols that they have to follow, which lead to high transaction fees. There are little to no transaction fees for cryptocurrencies since all transfers take place on the blockchain. Therefore, players only have to pay a network fee rather than a hefty banking processing fee.

Freedom

One of the benefits of eSports crypto wagering is anonymity and financial privacy. Unlike traditional websites where your transactions can be tracked, crypto eSports sites protect users’ privacy from central authorities and provide anonymity.

Like any other type of betting, it has its peaks. So, before you jump in, take time to look at its benefits and risks.

We’ve successfully narrowed down the long list of Bitcoin eSports betting sites to the best discussed above. The next step for you is to choose which one of these crypto esports betting sites you’d like to use. As good as they are, not all of them will suit your specific needs.

We’ve curated six essential factors to help you make the best choice:

Because crypto and eSports are both growth markets, they don’t have full regulation yet. Part of the reason for this is due to the relative age of each form of betting. As a result, not all sportsbooks allow eSports or crypto. It doesn’t mean there’s no regulation for crypto eSports betting, it just means the regulation isn’t as strict or widespread as standard sports betting. Players must ensure they only play at reliable sites with a high reputation to avoid safety and security issues. Our toplist is the best way to find sites with high levels of security and excellent reputations.

Each region will have rules as to whether betting on eSports is legal. While it wasn’t widely legal initially, it’s legal within most jurisdictions currently. US bettors will have to check the regulations within their state to ensure they can bet on eSports. People from UK, New Zealand, Australia, and Spain are all allowed to bet on eSports. There may be restrictions regarding access to some sites using cryptocurrencies in these regions. Before attempting to sign up for any crypto sportsbooks, it’s essential to check access is available.

Before you can start betting on any of the top cryptocurrency eSports wagering sites above, there is essential information you need to know. It’s even more critical if you’re a beginner.

How to Start With Bitcoin eSports Betting?

Here’s a step-by-step walkthrough if you’re not familiar with the process.

1. Purchasing Crypto

First things first for any betting in crypto is to purchase crypto. You can do this easily by using an exchange wallet that converts fiat currencies to cryptocurrencies. It’s advisable to buy the more popular cryptocurrencies like BTC and ETH.

2. Depositing Crypto to Your Betting Account

Next up is to deposit crypto into your account. Follow the instructions on your preferred Bitcoin eSports betting site.

3. Betting on eSports Matches

Once you’ve deposited crypto into your account, the next step is to place bets. There are different types of bets, including prop bets, accumulators, and match-winner bets. Pick the one you want and follow the instructions to bet on your favorite eSports games.

4. Withdrawing Your Winnings in Crypto

So, you’ve won! Congratulations. Here’s the stage where you withdraw your earnings. Each Bitcoin eSports betting site has a process for withdrawing. Read the instructions and follow them to get your money. You’ll get paid in crypto, but if you’d like to convert to fiat currency, you can do it using the same crypto wallet you used at first.

There are different rules and tricks to live betting. Of course, you can always cross-check with the betting site of your choice to confirm the rules. But here are some universal tips for live eSports betting:

1. Research the teams playing before the game and watch their previous games. It’ll give you an idea of how they play and their abilities. 
2. Be a member of eSports communities.
3. Be vigilant about teams trading their players.
4. Choose a website with a good reputation for eSports booking.

If you’re new, you can be confused by the different types of eSports bets available, so here’s a quick rundown of what is what.

eSports is a growth industry in the betting world. As it’s a relatively new sporting endeavor, it has a lot of catching up to do in relation to traditional sports. However, there are a lot of extremely popular events which are helping it to grow in popularity.

DOTA, Fortnite, FIFA, CS: Go, and LoL are some of the big players. What makes eSports so impressive is its ability to evolve. New games are constantly seeing releases, which means no game has the opportunity to become stale before something else takes over. It’s part of the long-term appeal of eSports, as it can bring in new fans consistently.

As it grows in popularity, it’s predicted to see massive levels of growth over the next five years. Economists expect a 21% yearly growth rate, leading to almost 5 times the annual revenue, between 2021 and 2029. As video games have become a mainstream hobby over the last decade, the upcoming generations will have more of an attachment to eSports than past generations. This will help to facilitate higher levels of growth.

The growth of Twitch streaming plays a big part in eSports popularity. It’s possible betting sites to have their own streaming platforms in the future, which will help increase eSports’s popularity and growth, especially if live betting becomes a more prominent aspect of the process.

Crypto Esports betting is new but already gaining popularity. If you’re on the fence about trying out this new trend, you can take the plunge. Your identity and money is safe on any of the top websites reviewed above.