Bitcoin Gambling Sites – The Most Popular Prepaid Option For US Players In 2017

Bitcoins

When it comes to making payments online, the term ‘prepaid’ is a marker for convenience. Prepaid methods are especially popular when it comes to online gambling. Many online gambling sites even accept prepaid cards as an acceptable deposit method. Bitcoin has come onto the scene as one of the most popular payment methods within the industry and essentially acts as a prepaid method. This page was created to inform bettors on how they can use Bitcoin as a prepaid method for online gambling.

Top Bitcoin Gambling Sites

The list of offshore gambling sites below all accept Bitcoin for both deposit and payout transactions. These offshore gambling sites are all legally sanctioned and regulated by their presiding governments. They have plenty of betting lines and wagering types to keep you betting year-round. These offshore sites also have strong security profiles that keep your personal and financial information safe. Click the links provided to be taken to the online gambling site so you can browse them for yourself.

Bovada Now Accepts Bitcoin

Casinos That Accept Bitcoin

Site Name Bonus Rating USA Friendly Visit Site
Bovada Logo $3,000 Bonus 5stars usafriendly Visit Site
Slotslv Logo $5,000 Bonus 5stars usafriendly Visit Site
Cafe Casino Logo $5,000 Bonus 5stars usafriendly Visit Site
Ignition Casino Logo $2,000 Bonus 5stars usafriendly Visit Site

Sportsbooks That Accept Bitcoin

Site Name Bonus Rating USA Friendly Visit Site
Bovada Logo $250 Bonus 5stars usafriendly Visit Site
Betonline Logo $2,500 Bonus 5stars usafriendly Visit Site
Sportsbetingag Logo $1,000 Bonus 5stars usafriendly Visit Site
Bookmaker Logo $300 Bonus 5stars usafriendly Visit Site
Betdsi Logo $300 Bonus 5stars usafriendly Visit Site

Poker Sites That Accept Bitcoin

Site Name Bonus Rating USA Friendly Visit Site
Ignition Casino Logo $2,000 Bonus 5stars usafriendly Visit Site
Betonline Logo $2,500 Bonus 5stars usafriendly Visit Site
Sportsbetting Logo $2,500 Bonus 5stars usafriendly Visit Site

How Does Bitcoin Work?

All Bitcoin transactions are tracked through a public ledger. This ledger is mediated by all Bitcoin users. You can purchase Bitcoins through an online service and then transfer them to your digital wallet. You will receive a unique electronic signature that’s associated with your Bitcoin transactions as opposed to using your name. Each digital wallet also comes with a unique address that is used for sending and receiving Bitcoins. You do not need to attach any sort of merchant account to your Bitcoin wallet and all transactions are handled online—not through your bank. Any transactions fees are self-incurred in order to secure faster transfer times.

Bitcoin acts as a prepaid currency in that once your Bitcoins are purchased and stored, they remain in your digital wallet until you decide to use them. When going to make a deposit onto an offshore gambling site, you can simply enter in your digital wallet information (tapping into your established depository of Bitcoins) instead of entering in any credit card information. Bitcoin is the fastest transaction method when it comes to offshore gambling sites, making it the preferred option as well.

Mining your Bitcoins is another viable option. As part of the open source ledger format, users are tasked with the system’s maintenance. Part of this maintenance is processing user transactions through special hardware—mining. Mining keeps the public ledger synchronized across all users and those who engage in mining are rewarded for their services via Bitcoins. Anyone can become a Bitcoin miner and it keeps things fair between users. Miners also capitalize off transaction fees. These fees are optional and transactions can be processed without them. The transaction fees act as a buffer to keep the network from getting cluttered. The fee amount is usually relative to the amount of bytes and varies being used in the transaction.

Benefits of Using Bitcoin As Your Primary Prepaid Gambling Deposit Method

Bitcoin has several benefits when it comes to deposits. For starters, Bitcoin is anonymous, which is appealing to bettors using online gambling sites. You don’t need to enter your name or any other personal information when making a Bitcoin deposit, only your digital wallet address. Bitcoin deposits are also the fastest deposit method available and don’t require any third-parties like credit card companies or financial institutions. Bitcoins are sent through whichever digital wallet service you use and you can track your transaction in real time. Bitcoin transactions are reliable and it is perhaps the most commonly accepted deposit method amongst online gambling sites.

FAQs

Is It Legal For US Residents To Use Bitcoin To Deposit Funds Into An Offshore Gambling Site?

Yes. There is a US federal law known as the Unlawful Internet Gambling Enforcement Act (UIGEA) that pertains to banks and other financial institutions, specifically how they handle financial transactions through online gambling. This law doesn’t target individual bettors or make it illegal to place bets online in the United States. It only restricts the methods through which bettors can deposit and withdraw money from the sportsbooks. Bitcoin is not only legal for USA residents to use, but is accepted by nearly all the reputable offshore sportsbooks and is not restricted under the UIGEA.

Is it Legal for International Players to Use Bitcoin?

In most cases, yes. This depends on where you are betting from. For example, Mexico has strict laws against using Bitcoin. Most countries don’t have laws against using Bitcoin and virtually all online casinos have Bitcoin as a viable transaction method.

What Is Bitcoin?

Bitcoin is an entirely online currency that utilizes a peer-to-peer network. Bitcoin is an anonymous network with digital signatures and wallets. The anonymity is appealing to online gamblers and keeps your identity secure. Bitcoin acts as a prepaid method because your Bitcoins are stored in an online wallet that can be accessed digitally (more on this in the next section).

How Do I Buy Bitcoins?

You can purchase Bitcoins through an online service called Coinbase. Coinbase is an online wallet that gives you the option of storing your Bitcoins. It’s a secure process and users can opt for two-factor authentication with your email and phone number when creating your account. Your bank account information is required to purchase Bitcoins (debit/credit card information is optional). There are two routes to purchase Bitcoins—entering the USD amount you would like to spend (the amount of Bitcoins you receive will be determined by your deposit amount) or entering the amount of Bitcoins you’d like, at which point you will be prompted with how much it will cost.

While you have the option to store your Bitcoins through Coinbase, most avid Bitcoin users prefer a Blockchain wallet. Blockchain is another digital wallet service, however it is strictly for storage (you aren’t able to purchase Bitcoins like you are through Coinbase). Most users prefer using Blockchain because it has a stronger security profile that keeps your Bitcoins safe, even in the case of a hack. Whether you use Coinbase or Blockchain, you will be given a digital address for your wallet that you enter when trying to send or receive Bitcoins. Any transactions can be tracked in real time through the wallet service, allowing you to see how far along your transaction is.

What Do I Need To Know Before Using Bitcoin For Legal Offshore Gambling?

Know that by using Bitcoin, you are using the fastest payout method available. You should also know that Bitcoin is secure and anonymous. Your personal information isn’t attached to your transactions, only your digital signature and wallet address. Bitcoin is fantastic for international transactions and is accepted by most legally sanctioned offshore gambling sites. For US bettors, Bitcoin is a great transaction method because it doesn’t fall under the Unlawful Internet Gambling Enforcement Act (UIGEA).

Can I Make Withdrawals From Offshore Gambling Sites Using Bitcoin?

Yes. Bitcoin withdrawals are simple with offshore gambling sites. Bitcoin may be your only available withdrawal method depending on where you are gambling from. It is the fastest way of getting your money so it is the go-to method for most bettors. You can withdraw by entering in your digital wallet information. Once the Bitcoins have been transferred, you can convert them by selling them through an online exchange service (like Coinbase). The money will then be transferred to your bank account.

Is It Safe To Use Bitcoin For Funding Offshore Gambling Entertainment?

Yes. Both the offshore gambling sites and digital wallet services have security protocols in place. Your personal information isn’t attached to any Bitcoin transaction. You can track any and all transactions through Bitcoin’s public ledger. While the UIGEA monitors banks and financial institutions with gambling transactions, it doesn’t affect Bitcoin transactions. Bitcoin doesn’t even require any bank information when making transactions—hence its status as a “prepaid” method.

How Long Has Bitcoin Been Around?

Bitcoin has been around since 2009. It has become widely popular and is now accepted by online businesses worldwide. There isn’t any sort of government regulation on Bitcoin and some governments have opened discussions on imposing regulations on the online currency, but nothing has come to fruition yet. Bitcoin is an online currency built for an online marketplace and doesn’t look to be going anywhere. You can learn more on the official Bitcoin website which offers content on every aspect of the crypto-currency.