Ever thought about the idea to bet on tennis with crypto instead of your usual local currency, but not sure how it works or if it’s worth it? We wanted to give our view on this topic, as it actually have a lot of advantages. Well, it does, if you can find a decent crypto-friendly sportsbook that is accepted in your country/area.
Below we give our recommendations for the best crypto betting sites for tennis (and most other sports). They work pretty much similar to any major betting sites, with the major difference that you will receive your funds, and place your bets, in digital currencies such as Bitcoin, Ethereum, CRO or XRP. These are digital assets created for different use cases but the deposit/withdrawal process in this case is similar for all of them.
Another common currency is USDT, which is a stable-coin. This means it’s pegged to the US Dollar and will make it easy for you if you are used to betting with USD in your standard betting site.
Best Crypto Betting Sites
Our recommendations for betting on tennis with crypto-currency. This list is being updated on a regular basis.
| Betting Site | Countries Accepted* | Bonus | Bet Now |
|---|---|---|---|
Cloudbet – Great sportsbook for crypto users! Check our Cloudbet review.
|
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Ongoing Promotions | Bet Now |
Stake – Crypto focused site with great promos and cashback!
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Ongoing Promotions | Bet Now |
Advantages of Betting with Crypto
Of course you might see it easier to just use your debit card to deposit into your favourite sportsbook. However, we feel it’s really a lot of advantages to learning the basics about crypto currencies and how to use crypto for sports betting.
1. Anonymity and Security – Digital currencies offer more anonymity and security, addressing privacy concerns that are paramount in online betting.
2. Speed and Efficiency of Transactions – Maybe this should be no 1 on the list, because this is really one of the top advantages of betting with crypto. Cryptocurrencies enable lightning-fast transactions, ensuring quick deposits and withdrawals, which is a significant advantage for bettors. With a good crypto sportsbook you’ll have your winnings in your wallet within seconds.
3. Reduced Transaction Costs – With lower fees compared to traditional banking methods, crypto transactions are more cost-effective, allowing everyone to save money.
4. Global Access and Inclusivity – Cryptocurrencies transcend geographical boundaries, making online betting accessible to a global audience in many ways. There are however regulations that one need to keep in mind.
5. Embracing Future Technologies – The use of crypto in betting represents a forward-thinking approach, aligning with technological advancements and future trends. By learning crypto transactions you will easier adapt to similar changes in other areas in the future.
Be Aware of Volatility
One thing to think about is that crypto can be very volatile. This means that, compared to your local home currency, your amount of crypto might be worth much more or less, just in a matter of a day (or less at times…).
Investing in digital assets can be very rewarding, but this is a completely different subject and not something to jump into without a lot of knowledge. We recommend transferring any winnings to your local currency or keep them in crypto stable coins.
How to Start with Crypto?
So, to make it simple, in order to bet with crypto-currencies you need to;
- Buy crypto from an exchange.
- Create a wallet for your choice of crypto-currency and transfer your crypto there.
- Make a transfer to the sportsbook of your choice
Choose a cryptocurrency exchange
There are many crypto exchanges to choose from, and which one is the best depends mostly on which currency you wish to purchase and of course where you live. This is due to regulations and we recommend researching this as these exchanges only allow certain countries.
Other aspects to look at can be security, fee and the trading volume.
Some of our top recommendations for exchanges are Coinmetro (EU), Kraken, Coinbase (US) and Crypto.com.
Transfer to your own Wallet
Creating your own wallet is optional to be honest, but strongly recommended as this is the only way you’ll “own” your digital assets and have full control. This part also requires some research on your part, because it depends on which currency you are using.
Of course we give you some options and our recommendations:
- MetaMask, Exodus or TrustWallet – For Ethereum and all Ethereum ERC-20 based cryptos, such as USDT and USDC.
- Xaman Wallet – For XRP.
- BitPay – For Bitcoin.
The image on the right shows the MetaMask wallet which is basically a Chrome extension which is very easy to use.
An even safer option is to use hardware wallet such as D’Cent, Ledger or Trezor which support most of the commonly used crypto currencies.
Once you have your own wallet it is safe, fast and easy to make crypto transfers to your sportsbook account to bet on tennis.
