Bitcoin Betting Sites in India

Brief overview

Indian sports betting fanatics have access to various sportsbook that accept Bitcoin. India is among the countries which have millions of digital token users. According to a Forbes report in 2022, India had a cryptocurrency investment value of almost 4.3 billion USD, with 15 to 20 million crypto investors.

Sports betting is one of the most popular ways Indians use their cryptocurrencies. Most sportsbooks that accept Bitcoin offer sports bettors plenty of lucrative bonuses and promotions. Additionally, the platforms also offer higher payment limits when using Bitcoin. Using Bitcoin when betting online comes with plenty of perks which Indian sports fanatics seek.

History of Bitcoin in India

The use of Bitcoin as a preferred payment by Indian sportsbooks is contributed to by the huge number of crypto owners in the country. According to the 2021 Global Crypto Adoption Index by Chain Analysis, India was ranked second after Vietnam.

Despite speculations of the government imposing taxes on digital tokens, cryptos’ popularity and ownership have soared. A report by Finder’s Report shows that by 2021 crypto ownership in the country was at 14.7% of the Indian population in November 2021. The number further doubled to 29.9% in April 2022.

Using Bitcoin as an Indian Sports Betting Fanatic

Indian sports betting fans need Bitcoin tokens to use them in sports wagering. You can purchase Bitcoin from various cryptocurrency exchange platforms and store it in your digital wallet. Once one has purchased enough bitcoins, they can transfer them to their sportsbook account and start wagering online. Withdrawing from the platform is equally straightforward. The payment requests are instantaneous.

How to Pick the Best Bitcoin Sportsbook

• Bonuses and promotions: bitcoin sportsbooks offer various bonuses and promotions for new and existing players. The best sports betting platforms will have bitcoin specific bonuses and promotions.
• Payment limits: every sportsbook imposes various payment limits based on their T&Cs. But players prefer wagering on betting websites with higher payment limits, especially for bitcoins.
• Speedy payments: most sportsbooks provide players with instant deposits. However, players also prefer having instant cashouts. Thus, most want sportsbooks with the shortest withdrawal processing period.
• Customer support: players frequently experience hiccups when making sports betting payments. The sportsbooks should have reliable and 24/7 customer support to offer the required assistance.

How To Deposit on Sportsbooks Using Bitcoin

Bitcoin is a super-fast and secure payment method. Indian sports betting enthusiasts can deposit Bitcoin into their accounts within seconds.

Step-by-Step Guide

• Register at your preferred sports that accept Bitcoin.
• Ensure you have bitcoins in your digital wallet.
• Go to the payment section of the sportsbook and select the deposit option.
• Pick Bitcoin as your preferred method of depositing funds into your account.
• The sportsbook will generate a pop-up window with a digital address you will use to deposit the funds.
• Return to your digital wallet, copy the digital address generated by the sportsbooks, and paste it into the wallet.
• Send the desired amount to the digital address, then confirm the payment.
• The payment is processed within seconds, and funds are reflected immediately on your player’s account.
• Once the deposit request is successful, you will get a notification on your digital wallet.

Common Challenges for Indian Players and how to Solve Them

Failed transaction: Indian players can experience failed transactions when they copy the wrong digital address. It’s essential to counter-check the digital address generated by the sportsbooks before sending funds.

Slow payment processing: payments can take a long time based on various factors. Indian players can get faster payments by providing all the necessary information regarding the payment request.

Failed to get bonus: Bitcoin sportsbooks have various deposit bonuses. The Bitcoin-specific bonuses have eligibility and wagering requirements that players must adhere to.

Cashing out on Bitcoin Sportsbooks

After making a few wins when wagering online, you will want to withdraw your funds. Sportsbooks recommend players use Bitcoin when depositing and cashing out funds for faster and more secure transactions.

Step-by-Step Guide

• You will need a digital address to cash out funds from your player’s account.
• Go to the payment section of the sportsbook and click on withdraw.
• Select Bitcoin as your preferred method of cashing out funds.
• The sportsbook will generate a pop-up window requesting a digital address.
• Log in to your digital wallet and select the option of receiving funds.
• If your digital wallet has other cryptocurrencies, ensure you select Bitcoin.
• The digital wallet will then generate a digital address.
• Copy the digital address and paste it on the generated pop window on your sports betting website.
• Input the amount and confirm all the details.
• Confirm the transaction and click “OK” or “SEND”.
• You will get a notification on your digital wallet that the transaction is successful.

Common Bitcoin Payment Issues Experienced by Indian Players

The funds don’t reflect on the digital wallet: Cashed-out funds can fail to reflect if the withdrawal request isn’t approved. Players can avoid this by ensuring they key in the digital address correctly.

Low limits: Bitcoin sportsbooks have various cash-out limits. Players can enjoy higher limits if they join loyalty programs provided by sports betting websites.

Security and Safety of Indian Bitcoin Sports Betting Platforms

Indian sportsbooks that accept Bitcoin as payment have various security protocols. These safety measures ensure players have a safe and secure gambling environment. Players must have a unique password and username as login details for their accounts. The websites even offer detailed requirements on the ideal characters to use when curating a strong password.

All the information the players provide is protected with a comprehensive privacy policy. The sports betting sites don’t share the player’s information with any third party or unauthorised personnel.

Indian Sportsbook uses various security encryptions on its platforms. These encryptions protect the players and the website from being accessed by hackers and possible cyber-attacks.

Indian sport-swaggering fanatics are encouraged to use only Bitcoin sportsbooks licensed and regulated by regional gaming regulatory bodies. The regulatory body keeps tabs on all the sportsbook’s activities, ensuring compliance at all times.

How Secure Is Bitcoin Payment on Sports Betting Websites?

Bitcoin has gained immense popularity and usage due to its speed and security as a payment option. Transactions are made using digital addresses, but Bitcoin isn’t stored in digital addresses. Bitcoin allows players to make payments anonymously. They can make payments privately without fear of being tracked or monitored. Additionally, the anonymity of the payments means that Bitcoin transactions aren’t reversible.

Bitcoin is decentralised, giving the players 100% ownership of their funds. There is no risk of one’s Bitcoin wallet being frozen by central regulatory authorities.

Bitcoin payments are made using digital addresses; thus, there’s no need to provide personal information. Since players don’t submit any personal information, they are at a lesser risk of having their information hacked. Besides the high security and safety, Bitcoin is a faster payment option when betting online.

Account Safety

Players don’t need to worry about identity theft or their information being accessed by unauthorised personnel. Bitcoin sportsbooks don’t require any personal information when conducting payments.

One can deposit and cash out funds from their accounts using digital addresses. The digital addresses provide players with anonymity when making any payment. Even the Bitcoin wallet doesn’t require any personal information from the player.

Players are only required to submit personal information to the sportsbooks. The sportsbooks use the information to verify the player’s eligibility and identity. Each Bitcoin sportsbook protects the submitted data with a comprehensive privacy policy. Players are guaranteed maximum account safety when wagering on sportsbooks accepting Bitcoin as payment.

Bitcoin Betting Bonuses

Bitcoin sportsbooks have various bonuses and promotions for their players. Bitcoin-specific bonuses are promotions customised for the players who use Bitcoin as their preferred payment method. Various bonuses and promotions depend on the operator. The most popular Bitcoin specific sports betting bonuses are:

• Welcome bonus: The bonus is eligible for all newly registered players. The operator might require the new players to make their first deposit or not. But they have to select Bitcoin as their preferred payment method. The welcome bonus is available in various forms, from deposit matches to free bets and accumulators.
• Despot match: Players are awarded a certain percentage of their deposit. The bonus is available for both new and existing players. Players are required to make a minimum deposit using Bitcoin as the preferred payment.
• Free bets: When players make payments using Bitcoin, the sportsbooks can award them free bets. Free bets allow players to wager on their favourite sports with no risk. The bonus can be awarded independently or as part of another bonus.
• Special bonuses or offers: Sportsbook-specific bonuses are offered to players who use Bitcoin as payment. They can be focused on specific sporting events like the World Cup or special regional holidays. Players have access to different special Bitcoin bonuses depending on the sportsbooks they are using.

The Bitcoin bonuses and promotions are lucrative. They also have eligibility and wagering requirements to which players must adhere. The most popular and universal requirement is that players use Bitcoin as a payment option.

Sportsbooks can run the bonuses for a specific period or indefinitely. They can also change the T&Cs and rewards attached to the various bonuses. Players using Bitcoin when betting online should be on the lookout for these bonuses.

Bitcoin Transaction Fees When Betting Online

Most sportsbooks provide Indian sports bettors with free payments when using Bitcoin. Yet some sportsbooks might charge fees when depositing or cashing out funds using Bitcoin. It’s best to confirm with customer support whether there are any associated fees when using Bitcoin.

Bitcoin Payment Limits on Sports Betting Websites

Sportsbooks impose payment limits on their websites. The payment limits dictate players’ maximum and minimum amounts to deposit or cash out. These payment limits vary from one sportsbook to another and come with various T&Cs. The operator can further impose different payment limits depending on the payment methods used by the players.

Customer support can provide more detailed information on the universal payment limits. Deposit bonuses provided by sportsbooks also have deposit limits as a player’s eligibility requirement. Only players who make the minimum deposit and more can get the deposit match bonus.

Most sportsbooks allow players to increase their withdrawal limits by joining a loyalty program. The VIP loyalty programs allow players to enjoy higher withdrawal limits as they progress. Additionally, sportsbooks allow players to get customised payment limits if they have a gambling problem. The players can access this feature in the responsible gambling section of the sportsbook.

One must contact customer support and request an adjustment on their payment limits. The new payment limits aren’t reversible until after a certain period.

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Rakesh Nadkarni

Rakesh Nadkarni is a seasoned sports bettor and an avid fan of all things related to sports. He has spent years researching and analyzing various sports betting sites and has a deep understanding of the industry. Rakesh is known for his sharp and critical eye when it comes to evaluating sports betting sites, and his reviews are widely respected within the betting community.

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