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Risky or Safe? What You Need to Know about Blockchain Betting Sites in 2024

Introduction to blockchain betting

Last Updated on 11/05/2024
Fact checked by: Alyx Tzamantanis

Blockchain betting is becoming more and more popular. With enhanced efficiency and anonymity, these sites have managed to appeal to bettors across the globe.

Blockchain online gambling sites have bucked the trend and continue to improve various features of their overall offering. If you are interested in getting involved, then use our guide to find out exactly how it all works.

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Compare the best crypto betting sites

Blockchain betting sites key takeaways

If you’re stretched for time, then our main takeaway points for blockchain betting will be of great value to you.

  • Blockchain for online gambling has reduced the number of limitations. These sites provide instant payment processing as well as no deposit or withdrawal limits.
  • Blockchain gambling sites have unparalleled security standards with multiple layers of oversight in place. This protects your gambling funds, potential winnings, and ensures more anonymity across the board.
  • Blockchain technology is focused around decentralisation and precludes the need for a middleman such as a financial institution to facilitate payments and process winnings.

Pros and cons of blockchain bookmakers

There are a number of pros and one or two cons which you should consider before making use of blockchain gambling sites.

blockchain betting sites
Blockchain bookmakers: Pros & Cons
  • Lightning-fast payments
  • Big crypto bonus offers
  • Increased security and privacy
  • Wider range of payment options
  • Can be associated with nefarious activities

How we ranked the best blockchain betting sites

When it comes to assessing the best blockchain gambling sites, there are a number of aspects that we assess. These include:

  • Crypto bonus offers: We analyse the different crypto bonuses that new and existing customers are able to claim with any given blockchain gambling platform.
  • Site design: Rating an online blockchain operator requires us to assess the usability and performance of the underlying platform.
  • Payment processing: The best crypto casinos and sportsbooks will provide various crypto payments which are processed instantly.
  • Support: We also assess each blockchain gambling site in terms of its online support.
  • Product offerings: From sports betting to blockchain poker gambling online, as well as casino lobbies, we review all products and report back to you.

How to find the best blockchain betting sites?

The internet is flooded with a number of online sites which claim to provide you with the best possible options in terms of blockchain casinos and betting sites. It’s important that you make use of a reliable source though so that you aren’t led astray. We urge you to use our latest reviews right here at Strafe.com so as to find the very best blockchain betting exchange and/or platform for your gambling interests.

Our favorite crypto sportsbooks

Guide to gambling with blockchain

Blockchain gambling projects may sound confusing at first but it’s pretty similar to using a standard site. The main difference between the two is the fact that you’ll be wagering in cryptocurrency as opposed to fiat currency. Once you understand how to purchase crypto and transact with it using your digital wallet, then gambling online with blockchain technology will be a walk in the park.

How can I start to play at blockchain bookmakers?

In order for you to get a front row seat to crypto sports betting apps and online casino sites, you’ll need to implement our six-step overview outlined below.

Step 1: Choose a legit site

As we’ve mentioned, you can use our coverage to find the very best blockchain sports betting and/or casino site. Be sure to align your own preferences with a platform that ticks all the right boxes. 

Step 2: Create an account and get verified

Use the online registration form to create an account and then verify your details accordingly. 

Step 3: Buy crypto from safe exchanges

If you don’t already have crypto, then you need to make use of an exchange to purchase crypto with your fiat currency.

Step 4: Transfer funds to your account

Make a crypto deposit via your wallet to your online gambling account. 

Step 5: Choose any provably fair games

Start playing your favourite crypto gambling games by heading to the lobby of your chosen operator. Alternatively, you can bet on available sports markets. 

Step 6: Withdraw your winnings!

If you manage to get your hands on potential winnings, then you can request a withdrawal from your gambling account to your crypto wallet. 

How to withdraw funds from blockchain gambling platforms

The idea is to have fun while using a blockchain gambling site. This being said, you will also be hoping to get your hands on some winnings along the way.

1. Go to the withdraw page

While you are logged into your account, head to the cashier section and then select the ‘withdrawal’ option.

2. Choose your withdrawal method

You’ll need to choose the cryptocurrency that you wish to withdraw your funds in.

3. Select the amount you'd like to withdraw

Enter the amount in fiat currency or crypto that you want to withdraw from your account.

4. Enter your wallet number

You need to scan the QR code or enter your crypto wallet address so that your funds are processed correctly and safely into the correct wallet.

5. Retrieve your winnings

Confirm the transaction and wait for your gambling operator to process the funds so that you can access your crypto winnings.

Future of blockchain betting sites

It’s clear that there are a number of perks that come with using blockchain betting sites. The added benefits bode well for these operators and should continue to draw more and more bettors to these sites. Moreover, if more individuals continue to adopt crypto for daily transactions, then the appeal of these sites will grow in size as the barriers to entry fall away.

In the same breath though, It is vital that crypto operators clamp down on illegal activities if they wish to gain even more trust within gambling circles. In certain parts of the world, regulators have been slow to include blockchain gambling sites into the fold. If these operators can demonstrate a willingness to be transparent and ensure fair gambing practices, then there’s no doubt that these sites will become household names.

Strafe verdict on blockchain betting sites

Blockchain technology has improved the user experience and cut out various unnecessary features that became synonymous with standard gambling sites. Nowadays, the ease of use and unparalleled processing power of this technology has spurred on a new dawn for the gambling industry. As long as you do your due diligence and find reliable crypto gambling sites that run on blockchain, you’re bound to enhance your very own gambling experience.

Our favorite betting site bonuses

Blockchain betting sites FAQs

❓Which exchange to use for blockchain sportsbooks?

There are a number of exchanges which have come to the fore in recent years. These enable you to buy crypto securely so that you can partake in betting on blockchain. Check out our comprehensive guide to find out how you can get involved.

⌛How long do blockchain deposits & withdrawals take?

You’ll find that the best crypto betting sites 2024 will process deposits and withdrawals a lot quicker than standard operators. However, it does vary from site to site so check out our latest coverage for more.

💡How do blockchain betting sites work?

These betting sites utilise the blockchain network to record and process payments while keeping data safe and online betting activities ticking over. To find out how it all fits together, check out our latest guide here at Strafe.com.

Whether you are looking to sign up with NFT casinos 2024 or enjoy crypto betting services, it’s vital that you double-check the legal situation in your area before you get started. Read our review to cover all of your bases.

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