Bitcoin betting is fast becoming a very popular trend in India, and the whole industry is one of the most competitive, as there are tons of Bitcoin betting sites in the country that you can choose from nowadays. There are many advantages why Indian bettors prefer using cryptocurrencies for placing their bets, and we’ll get to them shortly.
The competition in that sector increases every day, so the best Bitcoin betting sites need to be creative in attracting new players to their sites. You will find more crypto bonuses and different kinds of promotions, which can be used by both beginners and high-rollers.
Fast deposits and withdrawals are just a couple of the factors that make Bitcoin betting popular in India, and you can also encounter lower fees and a good selection of markets to choose from. Let’s dive into the details of Bitcoin betting in India.
Indian Bookies with BitCoin Betting Options
Crypto sports betting sites in India have grown so much to the stage where now not only do they match the offer of traditional sports betting sites – they even exceed it sometimes. The variety of sports markets that you can play on using cryptocurrencies is impressive.
All you need is a strong and reliable sport betting brand in India that accepts cryptocurrencies, and you are good to go. The betting market in the country is well-developed, and there are tons of operators you can choose from. Good research is vital for this subject, so to make things easier for you, we have compiled a list of the best online betting sites in India, that accept cryptocurrencies.
How to Bet Using Crypto
If you are a beginner in the Bitcoin betting world, you need to know how to bet using it in Indian bookies online. There are a few general steps that you can take, and we’ll take a closer look at each one of them below.
|Create an Electronic Wallet||The first step when deciding to bet using cryptocurrencies is to create an e-wallet. This is the equivalent of a bank account in the cryptocurrencies world. It will allow you to make transactions at your bookmaker. You can choose a digital wallet depending on the crypto you favour, but nevertheless – you will need to create a wallet account, which is a simple process on any platform you have chosen.|
|Fund Your e-Wallet||Choose a payment method first, and once you have chosen one, you will need to fill out the payment info required to complete the registration process. Now you are ready to buy cryptocurrencies, which can be done on any crypto betting exchange sites in India. Choose your crypto depending on what is accepted in your bookie.|
|Find a Bookie for Betting||Now that your wallet account is rich with cryptocurrencies, it is the right time to find a reliable sports betting site in India where you can place bets. There are tons of operators in the Indian market that offer Bitcoin betting, and we have made your research a bit easier with the list above.|
|Create an Account with the Bookie||It is the next obvious step you should make, and the whole registration process in the bookmaker is usually very simple. You will need to provide some personal information and click on the “register” button.|
|Make a Deposit||You need to fund your sports betting account with cryptocurrency for you to place bets. Once again, the process is very simple, all you need to do is go back to your wallet account and enter the deposit section, where you can send crypto to your sports betting account.|
|Start Placing Bets||Now, you are ready to place bets on your favourite sports since your account is fully credited. You can explore sports, and you can take advantage of the best odds that the bookie provides. The whole process when placing a bet using crypto is no different to regular bets, so it will be done in a few clicks. Don’t forget to maintain a responsible gambling attitude, no matter which Indian bookie you play on.|
|Withdraw your Winnings||For doing this, you need to move the winnings from your betting account directly to your digital wallet, and you might be charged a minimal fee for doing so. You can also convert crypto to fiat currencies on exchange platforms.|
Is Indian BitCoin Betting Profitable?
Cryptocurrencies expand at a rapid pace worldwide, and the betting world has not been immune to that trend. A market that is developed like India is very likely to utilize all the benefits that come from Bitcoin betting, so expect this aspect to grow even more in the near future.
There are tons of benefits for Indian players if they decide to bet using crypto, so it seems like a no-brainer. The crypto world can sometimes be unstable due to the bad/non-existent regulation in the world, but the huge interest in cryptocurrencies means that we are likely to see its value increase even more, so to answer the question shortly – yes, cryptocurrency betting can be quite profitable, and apart from that, you can enjoy tons of other benefits when using it at your favourite bookie.
Safety and Security at Crypto Bookies
The safety of cryptocurrencies comes from their decentralized nature. Crypto cannot be affected by any policy from any government due to its decentralization. If you bet online in India, your number one priority will be, of course – safety and security.
You need to be sure that all your transactions and personal details will be properly protected, and this is one of the main things that crypto betting offers you. You will get total security when wagering online, so you won’t have to worry about any sort of scam. This is one of the reasons why Bitcoin betting is considered an ideal option for all punters.
There is simply no room for manipulation with Bitcoin betting sites in India, as the whole process is well-protected. It doesn’t matter whether you make a deposit or make a withdrawal, all processes are transparent and reliable.
Another aspect of the safety when betting using crypto is the anonymity that is ensured. It is a major factor behind sports betting sites accepting cryptocurrencies and punters using them. All transactions are between the two necessary parties, with no other party involved in the process, meaning that there is no chance of anyone tampering with your transactions.
You can play anytime and anywhere using cryptocurrencies without worrying about the safety aspect. You also won’t need to go through some restrictions that apply when using the other standard payment methods, so you can rest assured that Bitcoin betting on sports in India is completely safe.
We should note that reliable sports betting brand is of the utmost importance here, so you need to choose carefully. To make your research easier, we have compiled a list above of the most reliable sports betting sites in the Indian market that have implemented Bitcoin betting.
Is it Legal to place Bets with Crypto?
Bitcoin betting is one of the most debated aspects in the sports betting markets worldwide, not just in India. No one seems to be quite sure about its legality, but certain states have legislations in place for sports betting that affect the availability of Bitcoin betting. So, it can be said that the geographic location of the nation has a huge effect on the availability of crypto sports betting sites.
In places where online betting is legal and where offshore operators can easily accept players from a country that does not have a specific regulation in place (like is the case in India), Bitcoin betting is allowed. Since there is no legislation that covers cryptocurrencies, then it is sort of a grey area, and most of the betting sites tend to use it.
There is no single, clear-cut answer to the question of whether crypto betting is legal in India, but when it comes to the Indian sports betting market, there are some key points of Bitcoin betting that you need to be aware of:
- There are no specific laws regulating cryptocurrencies in India, so it is neither officially allowed nor prohibited
- This attitude towards cryptocurrencies from Indian authorities may change in the near future, as the rise of crypto is impressive in recent years, and more and more industries in everyday life start using it, with sports betting sites no exception to that
- In countries with strict legislation regarding online betting, there might be strong measures against Bitcoin betting, but that is not the case in India. Since foreign online sports betting sites are free to accept players from the country, nothing stops them from integrating cryptocurrencies
So, the main point here would be that you need to choose a reliable and licensed online sports betting site, and you have no problem. The best sportsbooks in the world have surely implemented cryptocurrencies among their payment methods, so as long as the operator is trustworthy, you have nothing to worry about.
Crypto Gambling Sites vs FIAT Bookies
Bettors in India will be able to choose from two types of sportsbooks:
- Bitcoin betting sites
- Fiat bookies
There are some advantages and disadvantages that come from using both, and you might be familiar with the fiat bookies, but let’s take a closer look at why Bitcoin betting sites will hold an advantage over them in the near future.
Privacy and Security
Let’s put it simply – the more information you share, the more information will be at risk of being manipulated or being subject to a scam. Most of the fiat bookies will ask you to provide them with personal information such as name, date of birth, email address, credit/debit card information, and so on. You will then be asked to send verifying documents before they allow you to make any withdrawals.
As for the crypto bookies, most of them will only ask for your email address, so you have total control over your account. Some of them might ask you for your date of birth just to establish that you are over 18 years old, but that is all. So anonymity brings you an additional benefit – safety and security, which is one of the leading advantages of crypto bookies.
The vast majority of sports betting sites will allow you to make instant deposits, but the story might be different when it comes to withdrawals. Every player wants to have instant access to all their money, and by betting at fiat bookies, they will surely wait at least a couple of days before they get their money.
This is not the case with crypto bookies, as another main advantage of Bitcoin betting is that players can make instant withdrawals without having to wait more than a couple of hours.
Deposit and Withdrawal Limits
Every sports betting site wants to protect itself by imposing some minimum and maximum amounts that players can deposit and withdraw. The amount varies from one operator to another in India, but they are still there.
Crypto sports betting sites do not have such limits, so every player will be able to make deposits and withdrawals at any time and with any sum.
Bonuses and ongoing promotions are key to attracting new and retaining the already existing players on the site. Most of the fiat bookies offer you some common bonuses around certain special events, and you might even get bored with them. Crypto bookies are new to the market, and they offer some innovative promotions that are sure to keep you entertained.
Pros and Cons of Bitcoin Betting
Bitcoin betting sites have many advantages, and that is why bettors in India tend to shift towards that form of betting nowadays. As expected, the advantages outnumber the disadvantages, but let’s take a look at which are the main pros and cons of it.
Bitcoin Betting Pros
First things first, Bitcoin betting can offer a lot of advantages to punters, especially the Indian ones. The advantages below will help you understand the reason behind its recent upswing in its popularity.
|There Are No Real Legal Restrictions||Online betting is not legal in India, but nor is it prohibited, as foreign operators are free to enter the market and accept players from the country. This means that there is nothing stopping offshore gambling sites from offering their services to players in India, and most of the reliable ones have cryptocurrencies integrated as some of the payment methods.|
|Tax-free||Cryptocurrencies are not regulated as well in most parts of the world, so no authority in India will say that it is prohibited, so you can enjoy its benefits without any problems. Since cryptocurrencies are not considered to be an official currency, you will not have to pay taxes to any of your winnings, which sounds like a dreamland.|
|Security||You won’t be required to enter personal information in any Bitcoin betting site, which means that there is no information that can be stolen from you, and you can eliminate identity theft from your list of worries. Additionally, it means that no funds will be stolen from you, so all transactions you make with cryptocurrencies are completely safe.|
|Fast Transactions||One of the main advantages of crypto transactions in online sports betting is that they are very fast, especially when you compare them with real-money deposits and withdrawals. There is no third party in between that processes every transaction, so the whole process does not take more than a few minutes before the transaction is complete.|
|Low Fees||As mentioned in the previous point, there is no third party processing the transactions, and it is very beneficial. You won’t have to pay additional fees to that third party, and sometimes all transactions you make with crypto have no fee at all. Most of the fees come with coin converting, and it is more convenient than real-money betting.|
|Special Promotions||Bitcoin betting has more innovative promotions and bonuses than standard betting, and it is one of the main reasons why people tend to love betting with crypto – there are likely to get better promotions than players who bet with standard payment methods.|
Bitcoin Betting Cons
Although there are tons of advantages that come with Bitcoin betting, there are some downsides that you need to know about.
|It Cannot Be Traced||The anonymity that comes with Bitcoin betting is a great advantage, but there is a negative aspect of it as well. Although the chances of fraud are slim, in case it happens there is no way that the person who has committed it will be caught. Bitcoin betting sites are combating this downside, and they are starting to implement some built-in monitoring tools to help detect fraudulent activity.|
|Cryptocurrencies are Volatile||The price of cryptocurrencies, such as Bitcoin, changes every single day. The demand for it increases or decreases, so the number of coins in circulation varies every day, so today’s value may not be the same tomorrow.|
|You Cannot Reverse Transactions||Card payments and bank transfers allow you to make a reversal on all your transactions, but that cannot be done with cryptocurrencies. Once you transfer the sum, it is all done, and there is no way back. If you use the wrong wallet code, then you will lose the sum.|
Masternode Crypto: Essentials
Master nodes can be defined as being part of the infrastructure that contains cryptocurrencies like Bitcoin and Ethereum. The difference with regular nodes is that master nodes don’t add new blocks of transactions to the blockchain, but they verify new ones and fulfil special roles in governing the blockchain.
There are more types of nodes that form the infrastructure of a blockchain, and they provide transparency and security, together with running the software that implements the rules and the functionality surrounding crypto. Nodes are responsible for verifying new transactions, as well as governing the blockchain’s protocol.
So, running a master node requires serious financial investment and a significant stake in the crypto itself and the hardware that is more expensive than the average laptop. The expertise comes without a question too. Dash is a fork of Bitcoin, and it is the first virtual currency to adopt the master node model.
Master nodes are essentially a simple alternative to mining, and they require less expertise, as well as lower operating costs. The initial investment is rather high, so you need good expertise to be profitable in the end.
Bitcoin Betting Bonuses in India
Every sports betting site in India offers certain bonuses to its bettors, and crypto users can enjoy some innovative new bonuses. Bonuses are in place to push the player towards choosing a betting site, as well as making sure they stay loyal to the brand.
All crypto bonuses have some terms and conditions that need to be met, so make sure to go through them carefully before claiming any promotion. You might be asked to wager the bonus a certain number of times on specific markets or minimum odds before you make any withdrawals.
There is a number of different crypto bonuses that you can expect in sports betting sites in India, but here we will go through the most popular and frequent ones.
Crypto Welcome Bonuses
When you register to any online Bitcoin betting site, it will give you an incentive to make a deposit by offering you a crypto welcome bonus. This is a bonus that can only be claimed by newly registered players, and it can only be used once per person.
Make sure to check the terms and conditions of this bonus, as the markets or minimum odds that you can use the welcome package vary from one sports betting site to another. It can be a one-off match bonus up to a certain amount, or it can count towards more than one of your deposits.
Crypto Reload Bonuses
Crypto reload bonuses are usually part of the site’s loyalty program, and it means that these bonuses are offered to already existing players to keep them engaged and loyal to the brand. It is a deposit bonus where the bettor can make a deposit, and the sports betting operator will match it, depending on the match percentage.
You can sometimes see that crypto reload bonuses are offered at specific times, for example, every Friday, and the match percentage varies from one operator to another. If the match percentage is lower than 100%, then the wagering requirement may be a bit looser.
Crypto Loyalty Bonuses
A crypto loyalty bonus is a promotion that is meant to reward players that have been loyal to the betting site. Most of the sports betting sites in India have ongoing VIP and loyalty programs that players can participate in based on the number of bets that place.
Crypto Cashback Bonuses
Crypto cashback bonuses are also known as rebate bonuses, and it is a type of promotion that gives players a percentage back of their losses, and sometimes it is argued that cashback bonuses are part of a loyalty program, so it is sort of a loyalty bonus. Like always, make sure to check the terms and conditions attached to the cashback bonus before you decide to claim it.
The modern world of sports betting offers punters a whole variety of payment solutions, and the vast majority of players use the standard payment options, such as credit/debit cards. However, as Bitcoin betting is expanding at a fast rate, people use it more and more for their transactions.
Bitcoin (BTC) is the most widely used option for bettors in India, and it is understandable why – it comes with tons of advantages, and it is easy to make all transactions. Bitcoin, like other cryptocurrencies, is completely decentralized, and it is not under the control of any state or financial organization, meaning that you can make transactions with complete anonymity.
The process of choosing Bitcoin for your preferred method for deposits and withdrawals is not complicated at all, and there are just a few general steps that you should make. First, select your favourite sports betting site from the list above. They are all well-reputable sites, and you will enjoy your betting experience.
Once you have done so, visit their website and find the “Register” button, after which you will be taken to the registration page, where you should provide some personal information, such as username and password. Then, you will receive a confirmation email for verifying your betting account.
Now, you should fund your wallet by buying Bitcoin, and you can easily get access to it at some brokers or exchange platforms. Once you have done so, you need to transfer the funds to your betting account, which can be done in a few simple steps:
- Copy the identifier of the wallet
- Log in to the bookmaker’s site
- Click on the “deposit” button, which will redirect you to the deposit form
- Choose Bitcoin as the payment option
- Enter the currency equivalent of the number of crypto assets you want to be transferred
- Click the “send” button and validate the transaction
The processing time is extremely fast, so you will have your funds in your betting account instantly. Now, the fun begins, you can start betting on your favourite sports and use the best possible odds. You will also be eligible to claim a welcome bonus, which is a good way to start your betting journey. Some sites will later offer you ongoing promotions if you use Bitcoin, so keep your eyes open, you might be eligible to claim some handsome bonuses.
Bitcoin betting is the next trend in the whole sports betting world, and that trend is also evident in India. People seem to be aware of the benefits that come from using it, so the top-class bookies that are active in the Indian market have already integrated many cryptocurrencies as their payment options.
There are numerous advantages that come with using cryptocurrencies as a payment method, and the first and obvious ones are security and anonymity. You won’t be required to provide any personal information in crypto bookies apart from your username and email, so the chances of you being part of a scam are much less likely.
The volatility of cryptocurrencies can be put in the positives and the negatives when discussing it, but at the moment, the price of cryptocurrencies seems to be up all the time, so you won’t make a mistake by purchasing some and using it for your bets, it might turn out to be a very profitable move at the end.
Another great aspect of using crypto for your betting activity is the speed of transactions it offers. Traditional payment methods offer instant deposits as well, but withdrawals are what mostly affects punters. Everyone wants to have instant access to their winnings, but that is not always possible when using the standard payment options.
As there are no third parties involved in the transactions, cryptocurrencies offer players the chance to make instant withdrawals, which is why Indian players seem to be enjoying using crypto when wagering online.
Lastly, there are no taxes involved with the use of cryptocurrencies in betting. As there are no governments involved in the process, and the fact that crypto gambling is not yet regulated in most parts of the world, there is no way that any organization or government will be able to impose any taxes on your winnings, meaning that all you earn is a pure profit.