Esports Betting with Bitcoin 2023

What is esports? – How esports betting with Bitcoin came to be

Esports development 

The online esports world has been around since the 90s. But it has recently generated a lot of interest in the industry. This is due to the advances in technology and internet services that allow the user experience to feel like it would in real life. Individuals familiar with esports games can now access a variety of play options globally on different devices, so you don’t need to be tied to your computer to access these tournaments or watch other players participate.

Esports betting with Bitcoin has gained more traction as cryptocurrencies have become a useful payment method for many online experiences. It’s similar to normal sports betting, where you can place wagers on different games and tournaments and predict what you think the outcome will be, like who your favorite player to win might be and the end result.

Esports categories

There are two main categories of esports that gamers can get involved with, either playing or spectating. These are the real-life sports simulations and the classic esports games. The real-life sports games include FIFA, the NBA and the MLA, which have their own clubs and tournaments players can try their skills at. The classic esports games category consists of titles like League of Legends, Dota 2, CS:GO (Counter-Strike: Global Offensive) and Fortnite. Customers who have experience playing these games can take their enthusiasm to the next level by CSGO Bitcoin betting or testing their skills in the regional League of Legends tournament.

Tournament and game examples

We mentioned a few popular esports games that bettors can place wagers on. Still, there is an excellent range of tournaments accessible to customers worldwide, depending on the platform you decide to join to start esports betting. So if you’re interested in giving esports gambling a try and want to diversify where you spend your cryptocurrencies, there are some top games to consider.

These include international competitions like League of Legends LVP SuperLiga in Spain, LFL National League in France and the MSI (Mid-Season Invitational) League. Starcraft 2 competitions include the Alpla Pro Series, Dreamhack Masters China and Dreamhack Masters Europe. To discover which game is the best option for you to start your esports betting with Bitcoin decisions, read through our review to learn what type of bettor can benefit from this way of online gambling.

Who should start esports betting? Various online bettors

At Esportsbetting.com, our team thought this review would be helpful to a range of online betting enthusiasts, whether you’re new to the online crypto world or have experience with different gambling categories. We will highlight why you may consider using our reviews to enhance your online performance in the esports betting world.

New bettors

New customers can take advantage of this esports betting with Bitcoin review as we detail the benefits of cryptocurrencies as your preferred payment method. You may be familiar with using fiat currencies, so choosing a platform that has the option to switch between that and digital coins could be helpful to your experience in the long run. But if you want to use Bitcoin as your first choice, this could be cost-effective as you become more familiar with how the esports betting platform works.

Advanced crypto users

Our review is excellent for customers familiar with using cryptocurrencies for their online purchases. You may already know how to buy or sell items using Bitcoin and other digital coins, so what better way to expand where you spend your digital currencies than starting an esports betting journey? Customers may not be familiar with how the esports betting with Bitcoin world works, but it’s pretty straightforward as you’ll be able to place bets on which player you think will come out on top of each competition.

As cryptocurrencies are becoming more popular in the online financial world, you may have the advantage of already owning digital coins and having a secure crypto wallet for esports betting. This makes the process more streamlined if you decide to register with an online esports betting account.

Experienced online gamblers

If you already know how the online gambling industry works, then esports betting is an excellent transition to diversify your portfolio and how you spend your funds. You might be someone who has tried esports betting in the past with fiat currencies where you deposit your funds using a credit or debit card or bank transfer. But if you’re thinking of taking your esports gambling performance to the next level, cryptocurrencies can be an excellent way to see your funds stretch towards different games. There are lower processing fees, and on some platforms, you won’t have to worry about deposit and withdrawal costs.

How to start esports betting – A detailed guide

For potential esports bettors, we put together this step-by-step guide to give you an idea of how you can register an account and start your esports betting with Bitcoin journey almost instantly.

Research different platform options

We suggest you first look at different Bitcoin esports betting sites and compare the options to align with your betting needs. If you think you’d benefit from a platform with a demo account that allows you to practice your bets without spending real money first, then find the best options in the market and make your decision from there, which is an efficient way to narrow down platforms. Esports betting is also worthwhile when the site has a live stream accessible to each customer. If the site you’ve chosen doesn’t have this important feature, you may need to reconsider your decision and find one that does to make the most of your esports betting experience.

Register your details

Once you’ve decided which platform you want to start betting with, you can register your details and create an account. The platform may have other betting categories like sports betting and casino gambling. So double-check to see if you’ll need to make separate accounts for those or if you can access them with the same amount of funds you deposit for esports betting. You’ll provide your name, date of birth, email, and phone number and verify these details using a photo ID. If the platform doesn’t ask you to verify your information, they may not be following the secure KYC (know your customer) protocols that many reputable betting sites use.

Connect your payment method

Now that your details have been given and confirmed, you can set up your preferred payment method to deposit and withdraw funds from your account. You’ll need to use the same payment option to cash in and cash out in most cases. This ensures a more efficient method of transferring payments, and it will be easier for the operator to process. If you’re more comfortable using fiat currencies, you may have the option to use card payment methods. But as this review focuses on esports betting with Bitcoin, we suggest you look at crypto-only or crypto-based operators that encourage customers to use digital coins. This could be more cost-effective and have lower or no transaction fees.

Start betting on different esport games

Your account should be set up once you’ve connected your payment type and deposited the minimum required funds. So you can start betting on different esports games and try out different strategies to find one that works for you. If you’re familiar with how wagering requirements work, you may need to test out other betting options with this new platform to get comfortable with online esports betting in the future.

Advantages of esports betting with Bitcoin techniques

Our review highlighted a few key benefits of esports betting with Bitcoin and how it might be the reason to choose cryptocurrencies as your preferred payment option.

Efficiency

At Esportsbetting.com, we know how streamlined crypto payments can be for online transactions. They are processed on advanced blockchain technology, which gives customers an excellent level of security and anonymity. It also allows payments to go through without any internal checks that could cause disruptions. You’ll be transferring to and from your Bitcoin or another cryptocurrency wallet. This has its own set of public and private keys, which can be used as an address to send your funds. It’s simple to copy and paste the address to ensure your funds reach their destination, usually processed within seconds to minutes.

Low transaction fees

We mentioned in this review that there are minimal fees when it comes to using cryptos like Bitcoin. Bitcoin is the most popular digital coin globally, so you’re more likely to find crypto-only sites that cater to Bitcoin users. This could apply to platforms accessible on a Bitcoin betting app that is free to download and available on different devices like Android and Apple.

Other crypto options

You might be considering using a cryptocurrency to fund your esports betting journey, but what if Bitcoin isn’t your first choice? Not to worry, as many other altcoins are accepted in the online esports gambling world. Many platforms are developing their payment methods to include Bitcoin Cash, Ethereum, Litecoin, Tether and Dogecoin as available options.

Disadvantages of crypto esports betting

In addition to the benefits of using Bitcoin esports betting websites and other digital coin options, there may be some risks to consider before depositing your funds.

Scams

If you’ve not researched the best online esports betting with Bitcoin platform options, you may not select one that is regulated and trustworthy. Some operators claim to be the best option for you and your betting experience but lack the required safety measures like advanced SSL encryption to keep your details and funds safe. Some platforms may give you an address to send your funds to which may not be as legitimate as it seems. And because cryptos work on an unregulated system, you might not be able to trace that back to the scammer.

No transaction history

Although many customers like the anonymity of using cryptocurrency payments, it might not be that easy if you want to trace your transaction history. Cryptos are designed not to be accessed or manipulated by central governments and, in some countries, operate tax-free. So if you’re in a region that doesn’t have clear guidelines for using cryptocurrencies for your transactions, you might want to reconsider crypto-only platforms, especially those that aren’t fully accessible in your area.

Volatile digital currencies

The crypto market is one of the most volatile financial markets globally. There are constant outside influences that affect the value of various digital coins. So if you decide to deposit the equivalent of 20 EUR one day in Bitcoin, the next time you use the online esports betting site, the value could have dropped, meaning your betting opportunities aren’t as numerous as before. So keep that in mind when depositing and withdrawing funds at the crypto market price. However, if you’re not planning on converting your cryptos to fiat currencies anytime soon, this need not be an issue.

Meet our favorite esports platforms

Conclusion – Start esports betting with Bitcoin for a more streamlined experience today

Overall, we found esports gambling to be an excellent choice for customers who are new to the online betting world and customers who may have experience with other gambling categories like casino games and online sports betting with Bitcoin options. Our expert team suggests you research different operators before deciding which platform to register with to ensure it aligns with your skills and what you want to achieve in the future.

We recommend customers try esports betting with Bitcoin if they’re looking to diversify how they spend their cryptocurrencies online or want to start using digital coins more frequently. Our website is full of the latest reviews and guides to esports and other crypto betting opportunities, so check out our homepage to discover ways to pick the best platform options, avoid hackers and take your crypto experience to the next level.

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Esports betting with Bitcoin FAQ