Last Updated on August 22, 2023
Does Bet365 Accept Bitcoin For Online Betting?
As the rise of cryptocurrency continues to cause massive shifts in financial policy worldwide, many have wondered if coins such as Bitcoin and Ethereum will be used at one of the biggest uk betting sites – Bet365.
Although many countries have issued statements regarding the regulation of these currencies, most do not include digital money for buying everyday items such as groceries or electronics. However, some stores and online businesses have begun accepting cryptocurrency as payment.
As crypto use begins to normalize across industries, one question remains: can you bet online using Bitcoin? In particular, many people wonder if one of the world's most popular online gambling sites – bet365 – allows Bitcoin for use in betting.
Read on to learn more about bet365, Bitcoin, and the potential for the two to intersect shortly.
What Is Bet365?
Bet365 is one of the world's leading online betting sites. They offer an impressive selection of sports, horse racing, and casino games. However, the company is based in Stoke-on-Trent, Staffordshire, with over 8 million users across 200 countries and 80 other currencies.
Although the brand has been around since 2001, bet365 started to gain popularity after 2007 when they became an official sponsor for Manchester United. Since then, they have been a major sponsor for many of the world's biggest teams and sporting events, including Barcelona FC and the NBA in the UK.
However, despite the massive amount of activity at the company, betting enthusiasts are still questioning one thing – can you bet online using Bitcoin?
What Betting Options Does Bet365 Offer?
Bet365 is a full-service bookmaker which offers all the standard betting options like sports, live in-play, and spread betting. The company also has casino games with over 200 slots and table games available.
Bet365 was one of the first operators to offer 3D slot machines. They have been very successful since then, winning multiple awards from different gambling magazines.
Another prominent feature available on the website is their live streaming service. Customers can access it in various ways depending on their location, including through their phones or tablet devices.
The company offers hundreds of matches every week for bettors to win big. In addition, many other sports are available to bet on simultaneously with options like tennis, rugby, and cricket.
Bet365 is one of the most popular online gambling websites globally. Almost eight million customers visited their website last year. It has been running successfully since 2000 and continues to expand its business via subsidiaries all over Europe and Asia. Both new and existing players can earn cash rewards by taking part.
Try These Similar to Bet365 Gambling Sites that accept Bitcoin :
What Is Bitcoin?
Bitcoin is a digital currency that allows users to be in control of their financial transactions. As a result, Bitcoin offers several advantages over other standard methods such as credit cards and PayPal, among others. These include anonymity, speed, low transfer fees, and security against fraud or loss.
To understand how it works, we will describe its main characteristics:
First, it's decentralized: no single institution controls it. Managing transactions is done collectively by a network of miners. They use their computers to process new coins and record transactions on the digital ledger.
It's fast: you can pay in a matter of minutes from anywhere in the world without having to go through any intermediary.
It's anonymous: each transaction has three components, a sender, recipient, and an amount. The amounts are kept secret, but the transactions they participate in can be publicly tracked and followed.
It's secure: Only users with vital encryption keys (keeps secret) can access their Bitcoin. So to steal someone's Bitcoin, you first need to steal his keys.
It's transparent: all transactions are publicly recorded on the ledger and traced back to their origin. This is possible thanks to blockchain technology, which records every one of them (remember that it's a collective process).
It's deflationary: contrary to popular belief, there is a limit on how much Bitcoin can be mined. This is 21 million Bitcoin, which have already been created. However, the mining process has a predictable growth rate. As long as new miners keep joining the network, it will continue to expand slowly but steadily.
Bet365 Bitcoin Is a “When”, Not an “If”
The price of one Bitcoin has exploded in the past two years. The value increased from the hundreds USD to nearly $60,000 in just a decade. Most of those gains have occurred in the past three years. It remains a volatile currency with price fluctuations every day.
The surge in popularity is due to the media buzz created by experts and institutions. They recognized Bitcoin as a promising technology comparable to other forms of money such as gold or fiat currencies (backed by governments).
Before we get into the online betting sites that accept Bitcoin, it is essential to know more about this new digital currency and its uses. The following are some necessary things you need to know.
What Does Bitcoin Offer Online Betting?
The number of online betting sites accepting Bitcoin as a form of payment keeps growing exponentially. They encourage other bookmakers to follow the same route and incorporate this revolutionary digital currency.
People think one of the most appealing characteristics of Bitcoin for online gambling is how easy it is to deposit and withdraw funds using this system. Other benefits include reduced fees, greater security, less fraud risk, and the ability to enjoy faster transactions for international players.
What Are The Advantages Of Bitcoin For Online Betting?
Online betting sites that use Bitcoin have reduced transaction fees due to lower costs and more incredible speed. This is because, unlike regular currencies, there is no need for a third party such as banks or processors (e-wallets) to be part of each transaction.
Since all bets are made peer-to-peer, there is no need to pay a fee for the commission. In addition, this revolutionary digital currency is accepted in many parts of the world. Furthermore, it offers greater security due to its decentralized nature and encryption keys. It makes harder for hackers and fraudsters to access coins.
Withdrawing money using Bitcoin is even easier. Since banks or other financial institutions don't control the currency, there is no need to request a withdrawal. Instead, users only have to click on “withdraw,” enter an address, and send their funds.
In some cases, it may take a few minutes for the transaction to be completed. It should not take more than an hour.
Bitcoin transactions are perfect choice for high rollers – low transaction fees and no background or credit checks.
What Are Some Of the Disadvantages Of Using Bitcoin For Online Betting?
Bitcoin's greatest strength – its decentralized nature, i.e., it isn't controlled by anyone or anything – is also a weakness.
If you hold your bitcoin stash at some centralized crypto exchange and the company goes bankrupt, you'll lose your funds forever. Another possible disadvantage of this digital currency is its volatility, i.e., the price keeps fluctuating every day, and there are no guarantees it will go up or down.
Bitcoin holds great promise as a currency for online betting, and the industry needs to embrace this revolutionary digital currency. Almost all non GamStop betting sites offer Bitcoin as a payment option.
We need now more individuals, companies, and organizations to recognize Bitcoin's potential and start using it regularly.
Can I Use Bitcoin With Bet365?
The short answer: no.
However, the better answer may be: not yet.
Many are holding out for a future when cryptocurrency becomes the norm for financial transactions. There is already an increasing amount of sites that accept digital money. For example, many online betting sites have begun allowing customers to use Bitcoin to fund their accounts and make real-money wagers. Gambling sites like BetOnline AG and Cloudbet are even encouraging their customers to use cryptocurrency as a payment option.
This new system allows people to utilize cryptocurrency when they bet online without ever exchanging their digital money for real currency. It's a convenient system that will likely become more widespread in the coming months and years.
As of now, it remains uncertain if bet365 bitcoin option will be available for customers.
Bet365 Bitcoin Statement
What we do know is that bet365 does not accept any cryptocurrency as payment. This news may be disappointing for some. It's understandable given the massive amount of fraud that often comes with using digital currency for financial transactions.
For now, bet365 has not issued any statements regarding whether or not they ever plan to use cryptocurrency for payments or accept coins like Bitcoin in the future.
Many betting sites are considering how to move forward with accepting digital currency, especially as regulation becomes more lenient on crypto across the globe. Some online gambling organizations like Cloudbet have already begun using cryptocurrencies and tokens to help prevent fraud on their platform.
How To Start Betting On Bet365 With Bitcoin (Transfer Method)
Your best option right now is to find a method to transfer your Bitcoin into pounds, euros, dollars, or any other currency supported by bet365.
There are many Bitcoin exchanges available on the Internet to exchange your digital coins for traditional money. However, some of these sites require a relatively high minimum transaction amount and charge commission fees that range from 1% to 5%, depending on the size of the transaction.
Considering how volatile Bitcoin's price is, you should try to keep your outgoing transactions as small as possible so you can minimize the impact of any losses that might occur when converting your Bitcoin back into conventional currency.
How To Buy Bitcoin And Start Betting Online
While you can't use Bitcoin directly with bet365 right now, you can use it, enjoy the rise, and exchange your cryptocurrency into other acceptable currency that you can then use on the betting site.
To do this, you need to start by opening a wallet and depositing some Bitcoin into it.
Here's what you need to do:
First, buy Bitcoin
If you don't already have Bitcoin, the first thing you'll need to do is buy yourself some. Next, you will need to register for a digital wallet and transfer some money from your bank to that new wallet. This is a multi-step process, so relax and follow the instructions.
Find a Bitcoin Exchange
Check Out the Fees
Once you have found a suitable Bitcoin exchange, you need to look at its fee structure and compare it with other similar sites. The commission fees each exchange charges range from 0% to 5%.
If you want to save money on transfer costs, you should look for an exchange that offers lower commissions and set up a direct transfer from the Bitcoin website to your betting site account. The transfer time will vary depending on whether you are using Bitcoin or some other type of currency.
Transfer the Amount You Want
Once you have chosen a suitable paying site, you need to create an account there or log in to your existing account. It is a good idea to deal with an exchange that allows you to remain anonymous and pay for the transaction using some electronic payment system, such as PayPal or Moneybookers (Skrill).
Once you have made sure your betting site supports the currency you are transferring, go ahead and follow these steps:
1. Register on the Bitcoin exchange site or log in to your existing account.
Choose how much you want to transfer and which currency you wish to use for the transaction. Then, log in to your bet365 account and set up a payment as usual – only now, select “Bitcoin” instead of any other currency.
2. Click on “Send Money.”
Paste the Bitcoin exchange site address in the box and enter the amount of Bitcoin you want to transfer.
3. Click “Pay” and wait for your account to be credited with the funds.
4. Log out, make your bet, and wish for the best!
What Is The Future Of Bitcoin Betting?
Bitcoin is unlike any currency that has ever existed. It's like an abstract concept in the form of some online digital coin controlled by banks or governments instead of computer algorithms and public trust.
The word “cryptocurrency” refers to a digital asset designed to work as a medium of exchange using cryptography – rather than relying on central authorities such as banks – to validate and secure transactions.
Because there are no fees when you use Bitcoin, it's evident that this kind of currency will have a lot more appeal for gamblers than any other type. And while the rise in Bitcoin usage has been relatively steady so far, we will likely see some very significant changes in its adoption rate in the coming years.
If you're a fan of Bitcoin and don't want to miss out, make sure to stay tuned to the latest on Bitcoin and betting exchanges! We will be adding the latest updates, and bookmakers continue to update their policies to accept Bitcoin and other cryptocurrency options.