Bitcoin Betting Bonuses - Where to Spot Them and How to Take Advantage?

Bitcoin betting payment optionsIt would seem that everyone is talking about Bitcoin (BTC) and crypto currencies in general with most experts having absolutely no doubt that this will be the way of the future.

At the moment though, it is still very much early days, but you can rest assured that all sportsbooks will be making preparations behind the scenes so that they can start to accept BTC payments when the demand arises.

On saying that, online betting using Bitcoin is available at the moment, and there are some big UK betting sites that accept Bitcoin at the time of the writing. If you are considering getting involved with Bitcoin betting websites, it is important that you first understand how BTC works and how volatile it can be.

To begin with, if you take a look at the price history of this cryptocurrency, you will see that it is not unusual for the price to go up or down by 10% in a matter of a few minutes, never mind a few days, months or years.

What this means is that you could make a deposit by BTC into your sportsbook account on a Friday, not even have a bet and when you come to make a withdrawal, your deposit could be worth far more or far less than your initial deposit.

The general consensus is that when Bitcoin becomes more mainstream, the volatility will calm down a little, but you will find that at the moment, all talk about Bitcoin and cryptocurrencies is based on opinions so it really is a matter of waiting to see what will happen.

Just imagine how disappointing it will be though if you placed a winning bet, but when you came to make a withdrawal, you find that you have actually ended up losing money because of the state of the underlying Bitcoin market.

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Sports Betting Bitcoin Basics

UK betting sites that accept Bitcoin

Before you even think about getting involved with Bitcoin betting bonuses, it is vitally important that you take the time to understand how BTC works. When you make a deposit, you don’t have to deposit a whole Bitcoin but a small percentage of it, which makes depositing in this way far more accessible to everyday punters.

You will also require an account such as Coinbase so that you have a platform from where you can make deposits and withdrawals, but if you have a Bitcoin account, you will be pleased to know that you can now easily transfer funds which are in your Bitcoin account into a variety of crypto currencies including Bitcoin.

You will then be able to make BTC deposits into any sportsbook which accepts these types of deposits quickly and easily. If you are looking for more information about BTC, be careful who you listen to because there are some rogues out there who are claiming to be experts.

The great thing about Bitcoin bookies UK though, is that it is all pretty straightforward, so you don’t need to be a crypto currency expert in order to get involved.

What Are the Best Bitcoin Betting Websites?

As already mentioned, the future of sports betting using Bitcoin is very bright indeed, but at the time of writing, the options to get involved are pretty limited.

The best Bitcoin betting websites include Victor Chandler, so when big boys like that get involved, you can see which way the market is moving and there are other sportsbooks and casinos, dedicated to BTC, which are coming onto the market.

These betting websites that use Bitcoin should be watched closely because they will probably implement all of the latest developments ahead of the competition.

This is a very exciting arena and if you have any interest whatsoever in sports betting, you should keep a close eye on what is going on because, as with all new markets, there will be some fantastic opportunities to get involved and it would not be an exaggeration to say that these opportunities could very well be like nothing that you have ever seen before.

As more and more online betting sites that accept Bitcoin become available, more Bitcoin betting bonuses will become available and you will find that many of these BTC betting bonuses will completely blow the types of bonuses that you may be used to out of the water.

Bitcoin betting bonuses will offer the astute punter so many wonderful opportunities, so exciting times are definitely waiting for those interested in getting involved.

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Record Keeping Is So Important

As with any kind of betting, if you are getting involved with online sports betting with Bitcoin, it is so important that you keep accurate records of all of your transactions.

Bitcoin record keeping in online betting

Using UK betting sites which accept Bitcoin, it would be so easy to get completely confused and overwhelmed if you didn’t keep detailed notes about the transactions that you are making, especially due to the fact that you will probably not be familiar with these types of transactions.

Think about it for one minute. If you make a deposit with a debit card into your sportsbook account, any winnings will go back onto your card, or if you make a loss, that will be the end of it. When using UK betting sites that accept Bitcoin though, you will need to record the price of BTC when the deposit has been made along with the price of Bitcoin when you come to make a withdrawal.

It would be fair to say that this will involve far more detailed record-keeping than you might be already involved with so make sure that you lay everything out correctly in your record-keeping book or online accounting software.

One thing to always remember when keeping bets of your online betting using Bitcoin is to record your losses as well as your winnings. It is human nature not to want to even think about any losses that you make, but this is one of the worst things that you could do and will make any record-keeping nothing more than a pointless exercise.

Should You Get Involved with Betting Websites That Use Bitcoin?

It would not be an exaggeration to say that in a couple of years from now, most punters will be involved with online betting sites that accept Bitcoin, but at the time of writing, only those who are interested in cryptocurrencies are likely to get involved.

To answer the question about whether you should get involved with betting websites that use Bitcoin, the answer would have to be yes or at the very least, start trying to learn more about the very concept of Bitcoin before you get involved.

It is recommended that you keep an eye on the Bitcoin betting bonuses because there will be some unbelievable opportunities to take advantage of and when you start to incorporate bonuses such as these with various matched betting techniques, it might result in a positive outcome, and after all, that is what betting is all about, isn’t it?

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