Bitcoin Gambling Sites – The Most Popular Prepaid Option For US Players In 2018

Bitcoins

When it comes to making payments online, the term “prepaid” is a marker for convenience. Prepaid methods are popular when it comes to online gambling and many online gambling sites accept prepaid cards as an acceptable deposit method. Bitcoin has entered the scene as one of the most popular payment methods within the industry and this page was created to inform bettors on how they can use the cryptocurrency as a prepaid method for online gambling.

Update: The original Bitcoin blockchain has been forked, resulting in a new version of the cryptocurrency known as Bitcoin Cash. This is the second blockchain using Bitcoin and is a solution to the volume of blockchains created, causing it to slow in processing speed. You can read more about this on our page discussing Bitcoin Cash prepaid gambling deposits.

Top Bitcoin Gambling Sites

The list of offshore gambling sites below all accepts 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, odds, and wagering types along with offering strong security profiles, keeping your personal and financial information safe. The links provided below will take you to the online gambling site, so you can choose which site works best for you.

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 $500 Bonus 5stars usafriendly Visit Site
Betonline Logo $1,000 Bonus 5stars usafriendly Visit Site
Sportsbetingag Logo $1,000 Bonus 5stars usafriendly Visit Site
Bookmaker 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 shown on the public ledger and is tracked by all users. The transactions are known as blocks and because everyone keeps a record of a transaction to prove legitimacy, it creates a chain effect – hence the term “blockchain.”

You can purchase Bitcoins through an online service then transfer them to your digital wallet. You will receive a unique electronic signature associated with your transactions as opposed to using your name, making all transactions completely anonymous. Each digital wallet also comes with a unique address to be used for sending and receiving the cryptocurrency. No merchant account needs to be attached to your Bitcoin wallet and all transactions are handled online without the need of a bank. Any transaction fees are self-incurred to secure faster transfer times.

How to Deposit Bitcoin at Online Gambling Sites

Bitcoin acts as a prepaid currency because once purchased and stored, it will remain in your digital wallet until you decide to use them. When making a deposit at an offshore gambling site, you enter your digital wallet information and can choose the amount you want to deposit instead of entering any credit card information.

Once the Bitcoin is deposited into your online gambling account, the cryptocurrency is converted to the currency of your country and is one of the fastest transaction methods when gambling online, making it the preferred option at offshore online gambling sites.

How to Receive Payouts with Bitcoin at Online Gambling Sites

Receiving payouts is identical to the deposit method but in reverse order. To withdraw your winnings, you’ll just need to open your Bitcoin wallet and allow the transaction to be processed from the gambling site.

To exchange Bitcoin for the currency of your country, select the wire transfer option in your Bitcoin wallet and use the information to transfer the Bitcoin to your bank account. One thing to note: Cryptocurrencies fluctuate in value, so if you want the exact amount of your payout, be sure to transfer the cryptocurrency to your bank account immediately following the transaction being processed by the offshore gambling site.

Benefits of Using Bitcoin for Online Gambling

  • Bitcoin is completely anonymous, using only sequence of numbers to record the wallet used and the transaction initiation.
  • Deposits and payouts are instant, and there are no fees for using Bitcoin at offshore gambling sites.
  • No need to enter credit card information at the offshore gambling site, since Bitcoin acts a mediator between the two parties.

Drawbacks of Using Bitcoin for Online Gambling

  • The value of the cryptocurrency fluctuates often, which requires immediate deposits from the Bitcoin wallet to the offshore gambling site to avoid potentially losing value.
  • Due to the fluctuating economy of Bitcoin, withdrawing payouts from offshore gambling websites also requires immediate transfers to your bank account to prevent any decrease in the amount paid out.
  • Using Bitcoin requires the person to be knowledgeable of all the specifics and how to transfer funds to and from your wallet, since it is a new form of currency.

FAQs

Is It Legal for US Residents to Use Bitcoin to Deposit Funds at Offshore Gambling Site?

Yes. The federal law known as the Unlawful Internet Gambling Enforcement Act (UIGEA) pertains only 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 legal for US residents to use and is accepted by nearly all reputable offshore sportsbooks with no restriction falling under 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 it and nearly all online gambling sites have it as a viable transaction method.

What Is Bitcoin?

Bitcoin is an entirely online currency utilizing peer-to-peer connection and is an anonymous network with digital signatures and wallets, which created a history of digital transaction known as a blockchain. The anonymity is appealing to online gamblers and keeps your identity from being known. It acts as a prepaid method because your Bitcoins are stored in an online wallet that can be accessed digitally.

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 digital currency. 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 (debit/credit card information is optional) and are two routes to purchase: Entering the USD amount you would like to spend or enter in the amount of Bitcoins you’d like and you’ll be prompted with how much it will cost.

While you have the option to store your Bitcoins through Coinbase, most 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 cryptocurrency safe.

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 complete transparency of your transaction.

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 and is completely secure and anonymous. Your personal information isn’t attached to your transactions and only shows your digital signature and wallet address.

Can I Make Withdrawals from Offshore Gambling Sites Using Bitcoin?

Yes. Withdrawals are simple with offshore gambling sites. Bitcoin may be your only available withdrawal method depending on what gambling site you choose. It is the fastest way of getting payouts, 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), and then you can transfer the funds 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, so your personal information isn’t attached to any transaction. You can track all transactions through Bitcoin’s public ledger. While the UIGEA monitors banks and financial institutions with gambling transactions, it doesn’t affect cryptocurrency transactions. It doesn’t 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 many online businesses worldwide. There isn’t any US government regulation on it now, but some governments have opened discussions on imposing regulations on the online currency. The digital currency was made for the online marketplace and is not likely going anywhere anytime soon. You can learn more on the official Bitcoin website which offers content on every aspect of the cryptocurrency.