How Do I Deposit and Withdraw Money Via a Bitcoin Sportsbook?

Bitcoin Sports Betting Sportsbooks

Updated: November 28, 2022

More sportsbooks are offering bigger bonuses and faster transaction times for Bitcoin users. More sportsbooks are accepting Bitcoin period. Ready to get in on that?

I’ll show you the quickest and easiest way to make a Bitcoin deposit via an online sportsbook. Then, in the next step, I’ll show you how to make an ultra-fast Bitcoin withdrawal.

Let’s go.

What You’re Going To Need

  • ID verification documents—may be required for Bitcoin withdrawals
  • Bitcoin
  • A crypto wallet

How to Make a Deposit via a Bitcoin Sportsbook

Betting with Bitcoin is fast, simple, and the perks keep on coming now that most major sportsbooks are accepting BTC. Here’s how to make a BTC deposit to your sportsbook account.

Quick tip: Got a bonus code for Bitcoin users? Remember to enter it in the Bonus Code field before you confirm your deposit.

  1. Login to your sportsbook account
  2. Navigate to the Deposits page
  3. Select Bitcoin as your deposit type
  4. Enter the amount of Bitcoin in USD of your deposit
  5. Click Deposit
  6. Preview and confirm your details—you’ll see your transaction ID, Bitcoin deposit amount, current crypto exchange rate, Bitcoin deposit address and QR code here
  7. Login to your crypto wallet and enter the Bitcoin transaction deposit address from your Bitcoin sportsbook into the Send To address field
  8. Enter the amount of the deposit and confirm it against the sportsbook transaction page—the two must match
  9. Select your miner’s fee. As a general rule of thumb, the higher the miner’s fee you choose, the faster your deposit will show up in your sportsbook account.
  10. Hit Submit or Send, and wait for the email confirmation from your sportsbook.

Once your sportsbook verifies your Bitcoin deposit, you’re ready to start betting.

How to Make a Withdrawal via a Bitcoin Sportsbook

Making a withdrawal from a Bitcoin sportsbook is similar to making a deposit—with a few minor, but important, differences.

  1. Login to your sportsbook account
  2. Navigate to the Withdrawal or Cash Out page
  3. Select  Bitcoin as your withdrawal type
  4. Enter the amount you wish to withdraw in USD
  5. Click Withdraw, Cash Out, or Confirm
  6. Preview and confirm your details—you’ll see your transaction ID, Bitcoin withdrawal amount, and current crypto exchange rate, and an empty field for entering a crypto wallet address
  7. Enter your crypto wallet address—check it carefully
  8. Click the confirm button to accept the withdrawal terms and current BTC exchange rate

From here, your online sportsbook will take you to a confirmation page. Withdrawals can be processed within 48 hours.

Final Thoughts

Now that you’ve learned how to deposit and withdraw money via a Bitcoin sportsbook, it’s time to get started. You could be betting with Bitcoin in minutes, so what are you waiting for?

Bitcoin Sportsbook Deposits and Withdrawals FAQs

What is a miner’s fee?

A miner’s fee is the only fee Bitcoin users pay to bet online with Bitcoin.

Cryptocurrencies—including Bitcoin—use a shared, immutable ledger system to authenticate every transaction. That system is made up of a vast number of people—called miners—who keep it functioning properly.

While many miners might work for free, that’s not the point—and so every crypto transaction has a miner’s fee. When you send BTC via your crypto wallet, you elect how much you’ll pay as a miner’s fee.

What other sportsbook fees do I pay to use Bitcoin?

None. Any fees you pay via online sportsbooks are related to the admin and upkeep of a sports betting platform, and not for the use of Bitcoin as a currency.

How long does it take to send my sportsbook deposit / withdrawal with Bitcoin?

Deposits may take up to a few minutes from the time you confirm the transaction. Withdrawals can take up to 48 hours.

I sent X amount from my crypto wallet, but my sportsbook account shows X amount. What happened?

Cryptocurrency is converted into USD for betting at online sportsbooks. Because of this, there could be a slight fluctuation in your deposit amount.

That’s because the BTC value when you make your deposit, and the BTC value when your deposit hits your sportsbook account, could be different.

Because cryptocurrencies are decentralized and dynamic, their value is changing from minute to minute.


Relevant news

Leave a Reply