How to Bet with Crypto at Offshore Sportsbooks: A Step-by-Step Guide

What makes it so popular?

Cryptocurrency has been a payment option for over a decade at offshore sportsbooks. It's now becoming the number one choice as more and more players learn how to bet with crypto. In this guide, we will cover how to bet with crypto and which betting sites offer what you are looking for.

Cryptocurrency feels like it was created for offshore gamblers. It allows you to make near-instant deposits and fast withdrawals. Additionally, it also offers enhanced privacy and greater security with your information.

We've found that a lot of our players have learned about the potential benefits on offer, but they just don't know where to begin. It's natural to be cautious about using something new, even more so when it's a financial decision. We've put together this step-by-step crypto sportsbook guide to help you on your way.

We'll cover the entire process from beginning to end. With some pro tips and deeper explanations for anyone wondering, "Is it safe to bet offshore with crypto?"

Key Takeaways:

• Crypto betting is faster and more private, with near-instant deposits and 24-hour withdrawals on top offshore sportsbooks.
• Popular crypto wallets like Trust Wallet, MetaMask, and Ledger give you control over your funds and compatibility with major sportsbooks.
• Coins like Bitcoin, Ethereum, and USDT are widely accepted, and USDT offers stable value with reduced volatility for payouts.
• Betting with crypto helps bypass declined payments and bank blocks, especially for U.S. players in restricted states.
• Top sportsbooks offer bigger crypto bonuses, but players should always review rollover requirements before claiming.
• Always use trusted, vetted offshore sportsbooks and never leave large balances in your betting account. Withdraw to your wallet for safekeeping.
• Learning how to bet with crypto gives you faster payments, greater privacy, and access to bigger bonuses on trusted offshore sportsbooks.

Why Use Crypto to Bet on Sports Offshore?

Before we look at how the process works, here's a look at why betting with cryptocurrency is so popular:

Instant deposits and faster withdrawals

Time is money, and that's especially true in betting where markets can change in a flash. This means you need to be agile with your bankroll. Crypto allows you to really take control of your money, as deposits are available in an instant. More excitingly, your winnings can be paid out to you in as little as 24 hours.

Greater privacy and control over funds

Although we tend to focus on the financial side first, crypto betting is also the chosen option for those who care about privacy. Once you have your own crypto wallet for sports betting, you don't have to involve a bank or a third-party processor. Most offshore sites also offer relaxed or even no ID requirements. This leaves you free to maintain control of your money, without having to hand over all of your information and identification.

No declined payments

As previously mentioned, instant deposits give you a leg-up on the competition to make quick bets. But it's not just about the speed. Banks are often quick to block payments when they are made to betting companies, so using crypto allows you to sidestep those pesky declined payments and take even more control.

Works globally — including in the U.S.

Cryptocurrency is a global currency, meaning you can bet with it in the United States and further afield. This is especially relevant now. A lot of the US-regulated sportsbooks are restricted in payment types and currencies that they can accept, while some banks and credit cards won't work fluidly with offshore sites either. Cryptocurrency doesn't have this issue and can be used almost anywhere.

Larger bonuses on most sportsbooks

Not only do you have greater control of your bankroll. You will also have the ability to make quicker payments, and you'll also get more bang for your buck. Offshore sportsbooks compete hard to win your business, and you'll find the bonuses on offer to be far greater than their US counterparts.

Step 1 – Choose a Crypto Wallet

Potentially the biggest step in crypto betting for beginners is picking a crypto wallet. Think of this much like a regular wallet where you store cash, only it's digital and contains your cryptocurrency instead.

The wallet stores your "private key," which is a secret code that essentially proves that you own your cryptocurrency and allows you to use it. Whenever you send crypto, it's recorded on the blockchain. This is a public ledger that ensures transactions are transparent and secure.

These are our three beginner-friendly crypto wallet options:

Hot Wallets (Trust Wallet, Exodus):

The "hot" part refers to the wallet always staying connected to the internet, meaning transactions are always quick and accessible. It's a digital wallet that allows you to store more than one type of cryptocurrency, and is user-friendly for beginners.
Since they are always online, that does leave them more prone to hacks and cyber threats. This means it's vital that you ensure good security practices to protect your private key.

Browser Wallet (MetaMask):

A browser wallet works as an extension to your web browser and tends to work best with Ethereum. They are free to sign up to and are convenient to use as part of your browser. MetaMask also has a mobile app, which allows you to use it on the move. Again, as they are connected to the internet, they are vulnerable to hacks, while you are also dependent on the browser, so if it crashes or goes down, then you won't be able to access.

Hardware Wallet (Ledger):

Unlike the other two options, this is an offline, physical device. It tends to appeal to people who want to physically feel the wallet rather than store it online. It works by storing your private keys on a secure chip, and it requires a manual verification. This protects it from hacks. Something to consider is that you will need to pay for the hardware wallet. If you lose it without having backed up, then you will lose access to your funds forever, much like you would if you lost a wallet containing physical cash.

Pro Tip: You will find "crypto exchanges" which can be used for storing your cryptocurrency, but it's something we recommend against. Firstly, you sign over your private keys so you don't have full ownership anymore, so if the exchange were to be hacked, freeze your account, or go bankrupt, then you will lose your funds.

There's also a danger that they could be seen as a prime target for hackers and could also be shut down by government sanctions, so it's important to maintain control of your own wallet.

Step 2 – Buy Crypto

Now that you have your wallet set up, you need to learn how to how to buy crypto for betting.

In the same way that we only recommend that you gamble with trusted sportsbooks, this is also true when it comes to only buying from trusted exchanges like Coinbase, Kraken, or Binance US.

You will be required to set up an account with the exchange, and once this is done, you can then use card or bank transfer to deposit USD (or your preferred currency) in exchange for your chose cryptocurrency.

Although there are increasing crypto options available on offshore sportsbooks, the most popular are: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Litecoin (LTC)

Pro Tip: For maximum security, once you've purchased your chosen cryptocurrency, immediately go to the "withdraw/send" section of the exchange and transfer it to your own wallet.

Step 3 – Pick a Trusted Offshore Sportsbook

Now that you have the funds, the next part of our step-by-step crypto sportsbook guide may seem more familiar. Pick the best offshore sportsbook for you.

If you're unsure of where to begin, then you can look at our own list of the best crypto offshore sportsbooks. We've tested and verified the user experience to make sure they're trustworthy and legit. Additionally, we've also factored in accounts from real players to help you determine their reputation for paying out.

You will also want to ensure that your chosen sportsbooks support the cryptocurrency you plan to use. Also check that the bonus on offer is the best one for you.

Step 4 – Deposit Crypto to the Sportsbook

This is your step-by-step guide on how to deposit crypto on a sportsbook.

1. Log in to your sportsbook account: Make sure you are logged into your account, especially if on a shared computer.
2. Head to the banking/cashier section: This may also come up as part of the sign-up process, and select the "deposit" option
3. Select the crypto you want to deposit: The sportsbook will display all of the payment methods they offer for making a deposit. Select your chosen cryptocurrency
4. Copy the wallet address provided: This address is used to ensure your funds go to the sportsbook. Always ensure you've copied it correctly and double-check each time. Never reuse an old address without checking. You also need to double-check the network to ensure the sportsbook can accept the payment and to get the lowest fees.
5. Open your wallet and send the amount: In your wallet, you need to go to "send/transfer". Once there, copy in the wallet address, enter the chosen amount, and then confirm.
6. Wait for the confirmation: You will receive a transaction ID that allows you to track the payment, and then the confirmation should come to you within minutes.
7. Refresh and confirm your sportsbook balance: Once the confirmation has come through, refresh your sportsbook page and confirm the balance has been updated with the total.

Step 5 – Claim Your Bonus

Most offshore sportsbooks will offer a welcome bonus to all new players. Often you'll be eligible to receive a greater bonus for playing with crypto. The best sportsbooks will build this into the sign-up process, and you'll receive the bonus when you make your first deposit, but others will require you to email proof of the account set up, so always read the bonus details first to ensure you meet the requirements.

The most common bonus sees you receive a % of your first deposit as a free bet or extra funds to play with. This means the more you deposit, the more you will receive. There will be an upper limit on these bonuses. Reload bonuses are a similar option for existing players. This is where existing players will receive a % of their next deposit as free bets or funds.

It's also vital that you check to confirm you've included the necessary bonus code, where required.

Pro Tip: Sometimes it's worth accepting a lower bonus if there's a reduced rollover amount.

The rollover amount means you need to wager a certain amount before you can withdraw. For example, if you deposited $100 and there was a 10x rollover requirement, you would need to wager $1000 before you could withdraw any winnings on the bonus amount.

This is why it's often preferable to accept a lower rollover amount wherever possible.

Step 6 – Place Bets and Track Winnings

The final part of learning how to use crypto to bet on sports is to actually select your bet and place your wager. For those who are new to gambling, you'll usually come across the following three markets if betting on the outcome of a game or race:

Moneyline: This is where you simply choose who you think is going to win. If your selection wins, then your bet is successful.
Point spread: This is where the sportsbook will place a point difference on the favorite to create a 50/50 situation. You will either pick the favorite to start minus a set amount of points or goals, or the underdog to start with points or goals in their favor.
Totals: This is where the sportsbook sets a number of goals or points to be scored in a game. You have to decide if the actual total will be over or under that amount
Parlay: This is where you combine multiple selections to receive better odds, but you need every selection to be correct to win.

These options will also be available through live betting, where the lines can move in an instant, so being able to move quickly with crypto allows you to deposit and bet before the next big play, which moves the odds.

Step 7 – Withdraw Winnings in Crypto

Now that you've been successful and hopefully won big, here's best way to withdraw crypto from your sportsbook.

1. Go to the Cashier/Withdrawal: You may have already visited the cashier/banking section to make your deposit, so now head back there, but select the option to withdraw.
2. Select the same crypto wallet you used: This should still be stored from when you made your deposit earlier.
3. Enter your wallet address and confirm: This ensures the funds are sent to the wallet that you control. Think of it in the same way as someone sending funds to your bank account, you need to double, maybe even triple check, each time, just to ensure it goes to the right place.
4. Wait for the payment to come through: Most sites say the payment should come through within 24 hours, but some also allow themselves up to 24 hours to process the payment. Sometimes it can be processed in minutes, so stay alert for any updates.

Pro Tip: As certain cryptocurrencies like Bitcoin will see their value fluctuate, often on a day-to-day basis. This can impact your winnings. Consider using a stablecoin like USDT, where it's tethered to the USD. This way, you will always know the value of your payout before it comes through.

FAQs – How to Bet with Crypto Basics

Final Tips for Betting with Crypto

Use only trusted sportsbooks

If you're unsure how to bet with crypto or where to start, then use our guide of the best crypto offshore sportsbooks. This ensures you only use trusted and verified sportsbooks to keep yourself and your money safe.

Track your crypto transactions for personal records

In the same way that many people keep a ledger for their own personal banking transactions, keep a track of your crypto transactions for your own records. This ensures you can quickly see if anything has gone wrong or is missing anywhere and follow it up immediately.

Don’t leave large balances on the sportsbook

One of the key selling points of using cryptocurrency is being able to maintain complete control of your money. This extends to your betting balance as well, so don't leave large balances in the sportsbook. The speed of crypto payments means you can deposit again quickly when needed.

Review bonus rollover terms before cashing out

As previously mentioned, the rollover requirement for bonuses means you have to wager a certain value of the bonus amount before you can withdraw. Take this into account before you accept the bonus, as it may not fit with your betting methods, and review again before you go to cash out.