With Crypto sports betting interest growing and the pressure of regulation and KYC checks bearing down on punters, we’ve taken a look at the options available.
So far, we’ve narrowed down three options of interest. They’re just getting started and the up and coming gambling review is likely to push punters their way so it’s worth checking them out ahead of time. Much like the early stages of betting online, being an early adopter could be an advantage…
Notice: crypto-related gambling is not regulated by UKGC. Never deposit more than you can afford to lose, act responsibly.
What is Crypto Sports Betting?
As the name suggests, sports betting has now moved to the blockchain. Punters are able to place bets on their favourite sports via crypto sportsbooks and betting exchanges. To many, this will no doubt looks like a ‘double gamble as cryptocurrency values are extremely volatile. Although, if a punter is willing to take the risk of betting, it’s highly likely they’ll take the risk of sports betting with cryptocurrency.
As a word of caution; it’s important you learn about currencies and blockchain technology before you get started. Failing to do so may see you lose money on the currency itself. However, there is a chance you could benefit too. Just make sure you know what you’re getting into here!
If you’re crypto betting from the UK, we’ve found 3 providers (listed below) that will allow you to sign up.
The Best Crypto Sports Betting Sites for UK Customers?
At the time of publishing, these are our three selections. However, it’s important to note that this is a fast-changing environment with some companies ploughing huge sums of money into new platforms and development. It’s not supposed to be a final or exhaustive list.
EXBET.IO
The interface here looks much like Betfair so it’s likely that many will find it simple to operate. The colours are even the same!
Exbet.io is a crypto betting exchange registered and regulated in Curaçao. To sign up, all you need is an email address and deposit method. This is perhaps the least intrusive crypto sports betting platform we have seen. First appearing October 2020 means there isn’t a great level of liquidity yet, although that could change drastically in the months ahead. Particularly if UK betting exchanges restrict customer deposits further.
There’s only a 1% commission rate which is a massive plus, although perhaps this is countered by the only currency they accept – Bitcoin.
CASOBET
As an early cryptocurrency sportsbook, CASOBET accepts players from many countries, including the United Kingdom. You are able to deposit with over 10 different cryptocurrencies, receive bonus promotions, process instant withdrawals and contact them directly through live chat if there is a problem.
This product is aimed at recreational users that enjoy casino gaming and sports betting via a sportsbook model. The overround margins look very big meaning it’s unlikely you can profit long term, although it offers an option for those who have problems using UK bookmakers.
BETFLIP
First established in 2019, BETFLIP has a wide range of crypto sports betting and eSports options. You’re able to register extremely quickly without intrusive checks, make use of a VPN whilst betting and deposit with 9 different cryptocurrencies.
BETFLIP is mobile phone compatible and there are no fee’s to deposit. Being a sportsbook it’s targeted at recreational users so we are unsure about restrictions if you should beat the house!
Is Crypto Sports Betting Safe?
Depending on who you’re talking to, you’ll get a very different answer to this question.
Cryptocurrency and Bitcoin are extremely volatile and carry their own risks, meaning there is a fair chance you could lose money on them. Aside from this, many of these platforms are registered in territories that are not governed by UK law. So although we don’t believe crypto sports betting to be unsafe in any way, it’s important that you familiarise yourself with the risks involved.
Crypto sports betting provides a distinct solution to UK consumers who are faced with problems regarding affordability, intrusive checks and restrictions. However, you’ll need to weigh that against the potential risks for your own personal situation. Either way, depositing no more than you are comfortable losing is a good idea.
Related: How to Avoid KYC Gambling Checks | Know Your Customer