How to Properly Evaluate Crypto Betting Sites

It begins with a safety aspect before proceeding to other vital areas of Bitcoin sports betting.

Checking sites like CryptoBetting and other well-designed platforms comes with many perks. You get to see a proper evaluation of how the best crypto betting sites are suggested. Also, these sportsbooks have checked some boxes before becoming the preferred destination. It is a case of reputation and quality.

We will run through the essential checks you need to make for Bitcoin sports betting sites. These evaluations will ensure you end up on the best platforms with a good reputation and quality software. So, turn the ignition on, and let's get this ride underway.

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Things to Consider When Evaluating Crypto Sports Betting Sites

The cryptocurrency market climbed to an impressive $3,048 billion market capitalization in November 2021. That shows how busy trading was in the industry. In addition, the figures reflect the growing trend of Bitcoin sports betting.

Consider a few things if you need to move on from fiat-based sportsbooks. These relatively new waters come with complexities you want to avoid. Despite its incredible popularity, people have lost nearly $1 billion to crypto fraud since the start of 2021.

Keeping that in mind, we will address our evaluation from reputation to quality. You must first ensure you are on a reliable platform. Then, quality can come into play.

The following are things to consider when evaluating Bitcoin sports betting sites:

Registration License

Embracing cryptocurrency does not make these operators above the law. They remain subject to the laws regulating online casinos and sportsbooks as functional entities. Hence, every Bitcoin sports betting platform must have a verifiable license.

Online casinos and bookmakers do not hide their licenses. Anyone that does that has something fishy up its sleeve. On that account, it is best to avoid any platform that does not outright show off its registration.

Online licenses give Bitcoin sports betting platforms credibility. It presents a reliable front to players who are skeptical about depositing their coins. Remember, there is still distrust in the general cryptocurrency market because of fraudulent practices.

When evaluating any bookmaker for Bitcoin sports betting, check its license first. Please take the time to verify it with the issuing body. Popular licensing bodies include the Malta Gaming Authority, the Curacao eGaming Authority, etc.

Any unregistered bookmaker should be thrown off your list. Do not deposit funds on such platforms. Even so, registration is only one aspect of reliability.

Let's see another indicator of reliability and accountability.

Third-party Endorsements

Endorsements often point to a reliable online gaming operator. It provides extra credence for Bitcoin sports betting. Furthermore, these endorsements do not come from licensing bodies.

While looking for registration details, look for endorsements as well. It could be those from independent testing bodies or even award providers. Yes, awards also validate the bookmaker's commitment to providing quality service.

eCOGRA is one of the most popular independent online Bitcoin sports betting testing bodies. Seeing its seal brings confidence that the platform is devoid of manipulations.

You can also check for approval seals from financial testing bodies. That shows the proficiency of the available payment options. We know that cryptocurrencies are efficient for financial transactions, but an extra eye cannot hurt a fly.

Look up the financial provider and its operating license. In most cases, bookmakers use the services of a third-party payment service for their transactions.

Available Crypto Sports Betting Markets

Of course, markets are essential components of any sportsbook. The more an operator has, the more ways bettors have to win from matches. Hence, quality is often linked to the quantity of the staking markets.

Popular options such as over/under, handicap, total score, etc., should be available. While you cannot place real money bets, most sportsbooks allow unregistered users to scan their Bitcoin sports betting markets.

Skim through this list as thoroughly as you can. Do that until you are satisfied with what you are seeing. If you have any preferred wagering markets, look for them and ensure they are available.

Evaluating the staking options will make your Bitcoin sports betting experience much better. The fact that it does not take long to do that should be appealing to you. Ultimately, it should take a few minutes.

While reviewing the available markets, keep an eye out for the odds. Of course, they determine how much you can make from wagers. You want to look out for competitive odds.

There is no settling for an average platform in Bitcoin sports betting markets. Take your time and pick the best.

Supported Cryptocurrencies

A Bitcoin sports betting site could pass all the tests and not support the preferred coin. If you use Cardano, you want a platform that supports payments in Cardano. Going with one that does not support your payment method makes no sense.

Although you can get away with this, crypto exchanges can always be stressful. You get to change your coins back and forth. Also, that happens every time you play games.

Thankfully, crypto sports betting platforms list their supported cryptocurrencies for unregistered players. You might have more options if you register. The point is to search the list and ensure your preferred coins are supported.

Doing that will spare you the hassle of converting your coins on centralized exchanges. It can also protect you from the highly volatile market. So, take the time to explore the payment options.

Regional Availability

Regional availability is last but not least on the list. Blockchain platforms are decentralized, but crypto sports betting sites are subject to local laws. So, you will not have access to them if the local authorities prohibit them.

You could get away with using a VPN, but you will not enjoy its complete services. Confirm any Bitcoin sports betting platform's regional availability before signing up.

Conclusion

A few checks can give you the best crypto sports betting experience. Evaluate the license, third-party endorsements, wagering markets, odds, and supported coins on these sportsbooks. Then, you will have the best bookmaker on your hands to fill your needs.

Marvin Fry

Update 27 December 2022