Cryptocurrency betting is a relatively simple concept that promises players several advantages. It’s the same as using cryptocurrency to do anything else online like buying goods and services. As such, cryptocurrency betting involves transferring virtual currency like bitcoin from your crypto wallet to an online betting site for wagering on sports and games.
While cryptocurrency is quite volatile compared to fiat currencies, digital currencies offer gamblers several benefits including anonymity, low transaction fees, and security. That’s why online gamblers in India are always looking for betting sites that accept crypto deposits and withdrawals.
Now that you understand what cryptocurrency betting is all about, it’s time to understand what it takes to deposit using crypto at bitcoin betting sites in India. Fortunately, you can deposit money at a crypto sportsbook or an online gambling site in three simple steps:
A crypto wallet is a virtual hub for buying and selling your crypto assets. While advanced crypto enthusiasts use cryptocurrency wallets known as software wallets, we’re only concerned with hosted crypto wallets. These wallets help you store your virtual currencies like Bitcoin or Ethereum and you can use them to transact with crypto betting sites.
Using a crypto wallet feels like using an e-wallet like PayPal or Skrill. You can use your debit/credit card to purchase cryptocurrencies like Bitcoin and load your wallet through crypto exchanges and use the virtual coins acquired to deposit money into a crypto betting site. Even better, creating a hosted crypto wallet account is as easy as signing an app for PayPal and other e-wallets.
Once you’ve set up your crypto wallet account, it’s time to deposit money and buy some cryptocurrencies like bitcoin. Remember that cryptocurrencies are quite volatile, so the price of any virtual asset can fluctuate significantly within a short time, so be on the lookout when purchasing them. However, there’s no need of being worked up over this as the fluctuation can also be beneficial to you.
You can link your crypto wallet with your debit or credit card for easier transactions. Some crypto wallets may also allow you to deposit fiat currencies through e-wallets like PayPal, Neteller, and Skrill or other banking methods that you might prefer.
Once you have your virtual assets in your crypto wallet, you’re ready to deposit into a crypto betting site. You’ll only need to find the deposits page on a crypto betting site and click on the cryptocurrency you want to use. All reliable betting sites that accept bitcoin and other cryptocurrencies will give you detailed instructions on completing your deposit.
After your deposit crypto coins, you can start placing wagers and you’ll need to withdraw your cash when you win. Fortunately, the withdrawal process is simple as you’ll just need to request your crypto sports betting site and they’ll transfer your virtual currencies back to your wallet. However, some online crypto-betting sites take some time to verify and process withdrawal requests.
Once you receive your cryptocurrency in your wallet, you can convert it back into fiat currencies. You can also use it for buying other services or products online.
If you’re new to cryptocurrencies, figuring out how to buy Ethereum, Bitcoin and other crypto coins can be a little confusing at first. Fortunately, you can learn the ropes in these five simple steps and start buying cryptocurrency in India.
Keep in mind that buying cryptocurrency involves risking your capital, but you don’t need to worry as you can make a profit wagering on crypto betting sites. Additionally, cryptocurrencies are largely unregulated in India, so you might not have recourse for compensation if something goes wrong.
Now that you understand how to buy cryptocurrency and deposit into crypto betting sites, it’s time to start betting. However, not all crypto sports betting sites are legit. As such, you should find trustworthy bitcoin betting sites to get quality services without losing your money. Here are our 10 recommended crypto sportsbooks and online betting sites that accept Indians.
How to Select The Best crypto site?
When it comes to bitcoin betting, the top 10 best crypto sites we’ve listed above are all you need. However, crypto bettors who want to around digging for the best crypto sportsbooks will need to look carefully at the available options. Here are some key factors we consider when analyzing casino sites that accept cryptocurrency in India.
1. Restricted Countries
Although cryptocurrencies are decentralized digital assets accessible from anywhere, don’t register and deposit your money in a casino that’s restricted to your country (India). A good crypto betting site won’t allow you to register an account and deposit funds with an IP address from restricted countries. However, that’s not always the case with low-grade cryptocurrency betting sites.
Most sketchy cryptocurrency betting sites will wait for you to deposit and place your wager, only to block your account with all your cash when you try to withdraw. Such bitcoin sportsbooks will ask you for verification and when you try to go through the process, you’ll notice you can’t legally access their services or your money.
Before you create an online betting account to play casino games or place sports bets, ensure the platform accepts players from your country (India). If you choose a crypto sportsbook that’s restricted in India, focus on betting apps that have a solid reputation for their honesty.
2. Reputation and Trust
Trust and reputation are some of the key factors that high-quality crypto betting sites in India feature. You might benefit from the rapid cryptocurrency deposits and withdrawals at minimal fees due to the lack of a central regulatory authority, but that has a major downside. With the central governing authority, you can forget any refunds if the betting site is dishonest.
It’s therefore essential to choose a crypto betting app popular for its legitimacy. Focusing on the reputation of a crypto betting app will help you verify its legitimacy and avoid losing your cash through unclear circumstances.
3. Sports, Lines, and Odds Available
Not all crypto betting sites are the same. You’ll notice most BTC betting sites differ in the sports they offer, the betting lines, and available odds. As such, you should choose cryptocurrency betting that features all your favorite sports and offers solid betting odds on popular markets. Crypto bettors looking for special betting markets will also want to look at the available lines as some operators might not offer some less popular betting options.
4. Anonymous Sports Betting With Bitcoin
Anonymous betting is a valuable feature in bitcoin betting sites, especially when looking to maintain your privacy when betting. Unlike traditional sports betting and casino sites, some casinos allow you to anonymously create a gambling account without going through any KYC procedures for identity verification.
That works well as you don’t need to divulge any personal information in the process, but not all sites that accept crypto payments support anonymous gambling. Some sites will still require you to go through the ID verification process before you can wager and withdraw your winnings.
5. Payout and Withdraw Speeds & Terms
It’s important to find a bitcoin sports betting app that will help you manage transactions. That’s why you’ll need to take these factors into account:
Available Payment methods
Different betting apps vary in how players can deposit and withdraw their funds. Always keep your options open by choosing a betting site that allows you to deposit and withdraw in several ways including through your e-wallets, bank account, and cryptocurrency wallet. You’ll also need to check the supported cryptocurrencies.
Withdrawal speed
The crypto market is continually running and leading bitcoin betting sites understand that. In that regard, speed is key in crypto transactions. However, bitcoin betting apps don’t facilitate withdrawals at the same speed as some platforms require human operators to authorize the transactions for security purposes.
With that said, some bitcoin sportsbooks process withdrawals instantly, while others take hours or days. The quicker your crypto-betting site processes your withdrawals, the better the experience will be.
6. VIP programs and Bonuses
VIP programs and bonuses can be divided into three main parts when choosing crypto betting apps. That includes:
Most crypto betting apps offer a welcome bonus to attract new players. These offers often make a crypto sportsbook look like you’re getting a great deal, but there’s a catch. These welcome bonuses have strings attached to them in form of wagering requirements. Because of these restrictive measures, at times it’s best to choose a bitcoin sportsbook with great promotions instead of a huge welcome bonus.
- Promotions’ quantity and quality
Standard cryptocurrency betting apps offer poor-quality promotions and focus on bonuses as they know the players will hardly meet the strict wagering requirements. Fortunately, the best bitcoin betting sites offer more lucrative promotions that keep the game fun and add more money to your bank account.
Good bitcoin betting sites know they need to offer VIP programs worth of their brand. After all, VIP programs are an excellent way to keep the players entertained. Unfortunately, many casino operators don’t bother setting up a good VIP program.
A VIP program can significantly boost your entertainment level and allow you to enjoy other perks when done right. It also shows that a bitcoin sportsbook rewards the loyalty of its customers.
7. Is the Crypto Betting App end-to-end Crypto?
End-to-end bitcoin betting sites that accept cryptocurrency are quite different from the typical sports betting apps. When you deposit cash in the standard sportsbook that accepts cryptocurrency, the virtual coins are automatically converted into fiat. However, end-to-end crypto casinos allow you to maintain your cash as digital coins, allowing you to enjoy anonymity, fast withdrawals, and high withdrawal limits.
8. Support team
Without a professional customer support team to help you out, you’re bound to become frustrated when you run into problems. That’s especially true for beginners who have no experience with crypto betting apps. That’s why we test every site we rate to know the quality of their customer service.
How to start Betting with Cryptocurrency
Crypto sports betting is quite easy thanks to leading cryptocurrency betting sites online. Many accept dozens of cryptocurrencies and you can start wagering in five simple steps.
#1 Check out our list of Crypto Betting Apps to register with
Choosing the right crypto bookmaker from our list is crucial as it allows you to enjoy great welcome bonuses. However, there are other factors you’ll need to consider before registering an account.
#2 Purchase crypto (optional)
If you don’t have any crypto assets in your wallet, you’ll need to find a reliable crypto exchange to buy the virtual coins you want to use.
#3 Arrange your Bitcoins
Once you have the bitcoins in your wallet, you’ll need to plan the amount you’ll use to wager in your chosen crypto casinos.
#4 Ensure you use the right deposit address
Log into your crypto casino account and check out the deposits page. You’ll then need to choose the cryptocurrency you want to use for betting to get the right crypto address. Copying the right crypto address is crucial to avoid losing your money.
#5 Deposit and start Wagering
After copying the right address, log into your crypto wallet and send the amount you want to use to your crypto casino of choice. The transaction should be complete within minutes, but that will depend on the bookmaker’s policies.
The main sport types for Indian Bettors
Besides watching cricket and Kabaddi matches, Indians also love to watch their favorite teams and players performing across different sports leagues. Indians also love wagering on their favorite sports online. Some of the most popular sports that Indian punters can find on crypto betting sites include:
Soccer
Soccer is the world’s most popular sport and it’s featured in almost every crypto sports betting app in India. There are dozens of international, national, and local leagues to wager on, with hundreds of betting markets. The most popular sports leagues worldwide include La Liga, English Premier League, Champions League, Ligue 1, Bundesliga, Indian Super League, and others.
Cricket
Cricket is among the most popular sports in India, with a history stretching back over 300 years. Cricket betting is quite popular among cryptocurrency betting sites, with the best sportsbooks covering popular leagues like the Indian premier league, Big Bash League, Caribbean Premier League, and ICC World Cricket League.
Tennis
Tennis is another popular sport in the World and India. The number of tennis tournaments hosted every year shows why it’s among the most popular options for crypto bettors. The International Tennis Federation hosts about 1,500 tournaments annually, comprising 90,000+ matches. That means there’s always a tennis game you can wager on.
Popular Crypto Bet Types
Regardless of the sports that you want to wager on, there are different types of wagers that you can place. That includes:
Tournament Winner
The tournament winner is a popular sports bet that involves predicting who will win a particular tournament. These outright bets are sometimes part of a large accumulator bet, but they’re hardly successful for punters due to the long time they take to be settled.
Over/Under
Over/Under is another common type of bet that’s popular in crypto betting sites today. In that case, the crypto bettor will bet that the total number of goals scored in a match will be lower or higher than the set value. If you’re correct, you’ll win.
The next scorer
The next scorer bet is strictly about betting on who will score the next goal in a certain match. The punter can only wager on the players currently on the field, unlike in other scoring markets like the last goal scorer, where you can choose any player on the squad.
Spread betting
Spread betting in sports involves wagering on multiple selections in a single event, boosting your winning chances by covering several outcomes. The spread bet is usually expressed as a Buy-Sell range like 2.8-3.0.
If you think the outcome than the given range, you’ll buy. But if you think the results will be lower than the given range, you should Sell. Take horse racing for instance, the fixed odds of backing the tournament favorite will be low, but you can increase your potential winnings significantly with spread betting.
Asian Handicap
Asian Handicap is a type of bet that’s popular in football, involving wagering in which the team is handicapped depending on the current form. That means the stronger team must claim the win with more goals to win the bet. However, the number of goals that a team must win with is predetermined when making the bet.
Half/Quarter Markets
Quarter/ half are popular betting markets that involve betting on every quarter or half of the match. The relevant half/quarter must be completed for the wagers to be active unless the bets settlements have been reached.
Individual performance
Most sports fans love to debate how their favorite players will perform in different matches or during a particular season. The Individual performance bet allows you to put your cash where your mouth is, by wagering on how a certain player will perform. So, do you think that Luca Doncic will score five points in his next game? This bet is for you.
Team performance
Similar to the Individual performance bet, the team performance betting market involves predicting how a team will perform during a particular season or in a specific competition. However, team performance bets aren’t always available on all crypto betting sites.
Correct score
Correct score is a common sports bet that’s more intricate than choosing who will win the game. This bet has very high odds compared to other bets, as you’ll have to predict the final scoreline in a match. However, the bookmaker often puts a limit on the number of goals that you can predict the teams to score.
Live Betting
Live betting allows punters to place wagers on different sports markets while the game is still going on. This betting market involves live odds that constantly change to reflect what’s happening in the game. The bet is quite popular in leading cryptocurrency betting sites.
Ante-post Wagering
Ante-post refers to placing bets at least a day before the actual event. These bets are quite popular in horse racing events.
Main crypto betting odds
While understanding the intricacies of the sports market comes in handy, it’s only part of the whole equation. Winning, in the long run, requires an in-depth understanding of how betting odds work. Betting odds help you understand value betting and make informed gambling decisions. Here’s how everything works.
Types of crypto betting odds
To players outside North America, American odds might seem quite confusing for beginners, but they are great when you know how they work. Also called the Moneyline odds, they are represented by the amount of cash you need to wager to get 100 INR if the symbol is minus. If the symbol is positive, the figure will represent your profit when you wager 100 INR.
Also called European Odds, decimal odds are common in Australian, Canadian and European sportsbooks. Calculating your potential winning using decimal odds is simple, as you only multiply the odds with your stake. As such, your potential profits will be the product of the odds and the stake minus the initial stake.
These classic odds are widely used by Ireland and UK-based bookmakers. For instance, decimal odds of 3.75 are indicated in fractional terms as 11/4. To calculate your potential winnings, you take your stake and add to the product of the odds multiplied by your stake. In this case, if your stake is 200 INR, your potential winning will be 200 INR + (200x 11/4) = 750 INR.
Value Betting: Your key to success
Value betting is the practice of finding a wager at odds that give a player an edge over the bookies. If there’s a higher chance of an outcome occurring than what the bookmaker’s odds suggest, then that’s a value bet.
For instance, if the bookmaker is offering 2.50 odds on Arsenal beating Chelsea, the implied probability for this outcome will be 100/2.50 = 40%. However, if the real probability of Arsenal winning the match is 45%, then you’ve found a value bet.
Advantages and disadvantages of using crypto in betting apps
Advantages
- An increasing number of online casinos and sports betting apps offer great bonuses and promotions to crypto bettors.
- Cryptocurrency’s ability to increase value over time means that a win today might be worth more in the future.
- Crypto betting apps support anonymous betting, which means your bank or government can’t track your gambling activities.
- The lack of a central authority regulating cryptocurrencies facilitates fast transactions when depositing and withdrawing.
- Cryptocurrency betting apps are highly secure.
Disadvantages
- If you choose a scam crypto betting app, your money is lost forever as it’s untraceable.
- Cryptocurrencies are incredibly volatile and their value can decline at any moment.
Pros and Cons of crypto Betting vs. Traditional Betting
Crypto betting apps are quite similar to traditional betting sites, except that you’ll be betting with bitcoin, Ethereum, bitcoin cash, and other virtual currencies. Here are the pros and cons of using crypto gambling apps to bet online compared to traditional betting sites.
Benefits of Crypto betting Apps
Some of the best crypto betting sites offer full privacy with bitcoin payments. This financial privacy keeps your activities confidential and away from banks, spouses, and credit rating agencies. That gives you the financial freedom to do what you wish with your money.
Traditional sports betting sites can burden you with hefty transaction fees when your deposit or withdraw cash using credit cards or bank transfers. Crypto sports betting sites have a huge advantage over traditional sites as transferring bitcoin and other digital currencies save you a lot of time and cash compared to other methods.
The online gambling market is facing strict regulations in different jurisdictions. Online sports betting sites must obtain the necessary licenses, report suspicious activities, and pay any applicable fees or taxes. That explains why some sportsbooks restrict players from specific regions. However, crypto betting sites allow players to gamble from anywhere as you can gamble anonymously regardless of your country of residence.
- Bigger and better promotions/ bonuses
Top bitcoin betting sites generally offer bigger, better, and more frequent casino bonuses than traditional gambling sites. That’s because crypto transactions help casino operators to save money on payout and deposit fees, chargeback fees, and more. That allows bitcoin betting sites to pass the savings to their players in form of frequent casino bonuses and promotions.
Drawbacks of Bitcoin betting sites
Traditional online sportsbooks that are fully licensed stick to AML/KYC regulations. That’s because fiat currency circulates between all the parties involved, going through financial institutions, banks, and governments. That means the authorities can easily notice unlicensed gambling operators running on fiat currency. Unfortunately, the lack of regulation in cryptocurrency means that unscrupulous operators can go unnoticed by the authorities for years.
Traditional casino sites only operate by accepting deposits through credit cards, bank transfers, and other fiat methods. That means they also deal with the chargebacks imposed by financial institutions. As such, players can easily request the financial institution whenever they feel scammed or cheated. However, there’s no chargeback with bitcoin transactions as there’s no financial intermediate to make that happen.
FAQ: Best Crypto Betting Apps in India 2023
Cryptocurrency refers to a decentralized digital currency based on the blockchain. This virtual currency is popularly used to purchase goods and services online, including in the gambling industry.
While statements made by the Reserve Bank of India haven't been friendly towards cryptocurrency, there's no ban on digital currencies in the country. That means Indian players won't be arrested for placing sports bets using cryptocurrency.
To buy cryptocurrencies in India, you'll need to find a reliable crypto exchange like Coinbase where you can use your fiat currency like Indian Rupee or US dollar to acquire the virtual currency.
Sending cryptocurrencies to a crypto betting site is easy as you can complete a transaction by copying a transfer code from your operator and putting it in your wallet. The crypto coins will then be transferred to your betting site.
Cryptocurrencies are safe to use when betting online or buying goods and services on the internet.
Reliable crypto betting apps are legal to use since they must be governed by reputable licensing authorities like the UK gambling commission. That's why crypto players should avoid unlicensed gambling sites.
Most bitcoin sportsbooks facilitate quick crypto deposits, allowing you to get the funds in your betting account within minutes.
While blockchain technology facilitates quick transactions, crypto withdrawals from betting sites might take up to three days to facilitate. Some crypto sportsbooks facilitate withdrawals within minutes, but some take some time to verify the transactions manually and that may take some time.
There are dozens of cryptocurrencies you can use to place wagers online, with the most popular options being Bitcoin, Ethereum, Litecoin, Ripple, Dogecoin, and others.
Leading cry7pto betting sites feature dozens of sports and leagues, with the best options including football, tennis, basketball, tennis, cricket, and horse racing. You can also find less popular options like Kabaddi and MMA.
Conclusion
If you’re looking to venture into crypto betting using bitcoin, bitcoin cash, Ethereum, and other cryptocurrencies, the top 10 sites we’ve deeply vetted above are all you need. These crypto-betting sites are fully licensed, so you won’t need to worry about losing your money.
1. Get a crypto wallet account
