2020 Q2 Report: Bitcoin Betting Concentrated in USA

All Top 10 US sportsbooks accept Bitcoin while only 10% of Top 10 Global sportsbooks have started processing payments with the cryptocurrency.

Bitcoin has become a global currency. Theoretically, it should be equally accepted across the globe, casually ignoring national boundaries.

Our study tells a different story.

Bitcoin gambling world map large

US market is open for Bitcoin betting. Half of Canadian and only 10% of the Global operators accept Bitcoin deposits.

The US betting market is by far the most welcoming for Bitcoin – in fact, all US sportsbooks in our study accept Bitcoin.

Five out of the Top 10 Canadian sportsbooks have also started to accept cryptocurrencies.

But sites that cater to Europe and the rest of the world are still decidedly not Bitcoin-friendly.

Online Sportsbooks and Bitcoin in the US

100% of Top 10 US Online Sports betting operators accept Bitcoin

40% of Top US Online Sports betting operators offer Bitcoin bonuses

When it comes to Bitcoin gambling, the US market is the place to be! It is perhaps no surprise that the home of Silicon Valley would be open to Bitcoin. The United States is the largest center of Bitcoin activity.

It is also a country that taxes gambling winnings. So the extra anonymity that comes with betting with Bitcoin could be appealing to US bettors especially.

Online sportsbooks – US

Operator Accepts Bitcoin Higher Bonus
bovada Yes Yes
SportsBetting Yes Yes
MyBookie Yes Yes
BetOnline Yes Yes
gtbets Yes No
BetNow Yes No
5Dimes Yes No
WagerWeb Yes No
InterTops Yes No
XBet Yes No

With so many top US betting sites also accepting Bitcoin, the competition for these tech-savvy bettors heats up! This means they fight for Bitcoin bettors by offering extra boosts to welcome bonuses and other promotions. This normally comes in three forms: a higher percentage match, a raised maximum bonus amount, and/or reduced rollover requirements.

Online Sportsbooks and Bitcoin in Canada

50% of Top 10 Canadian Online Sports betting operators accept Bitcoin

10% of Top Canadian Online Sports betting operators offer Bitcoin bonuses

Canadian bettors who prefer the speed, saving, and security of Bitcoin will have options. We found that half of the top Canadian online sportsbooks accept Bitcoin.

By focusing on one country mainly, they can more easily offer a variety of payment options. While Bitcoin bettors cannot deposit at every sportsbook, you can easily find a new one to use as your Bitcoin betting site.

Online sportsbooks – Canada

Operator Accepts Bitcoin Higher Bonus
Bovada Yes Yes
PowerPlay Yes No
Tiger Gaming Yes No
NetBet Yes No
22Bet Yes No
BetNow No No
10Bet No No
Betway No No
LeoVegas No No
SpinSports No No

As Bitcoin use and betting sites continue to grow in Canada, you can expect more of them to offer Bitcoin bonuses as well. As of now, only one of the top Canadian betting sites offer bonuses that are enhanced by or specific to Bitcoin.

However, we could also frame it as 20% of Canadian betting sites that accept Bitcoin also offer an enhanced bonus. Currently Bodog is the place to be for Canadian bitcoin bettors.

Online Sportsbooks and Bitcoin globally

10% of Top 10 Global Online Sports betting operators accept Bitcoin

Many bookmakers cater to a number of countries. By catering to nations in Europe, Latin America, Asia and more at the same time, they have many legal jurisdictions to respect.

While Bitcoin has established itself as a legitimate currency, it is still relatively new when compared to the Euro or the US Dollar.

Because the legality of gambling changes across all of these jurisdictions, it seems many sportsbooks are wary to start accepting Bitcoin. We found that only one of the top 10 sportsbooks with a truly global reach accepted Bitcoin.

Online sportsbooks – Global

Operator Accepts Bitcoin Higher Bonus
Stake Yes No
Bet365 No No
888 No No
Betsson No No
Unibet No No
Betfair No No
Paddy Power No No
William Hill No No
Betfred No No
Bwin No No

If global betting sites that accept Bitcoin are rare, finding one that also offers a welcome bonus boost will be even tougher.

With only 10% of the best global sportsbooks accepting BTC, Stake has the market cornered. They have no further incentive to lure Bitcoin bettors. In fact, Stake does not offer welcome bonuses of any kind.

Deposit Fees: Bitcoin vs Credit Cards

Bitcoin deposits are on average cheaper at major sportsbooks than credit card deposits.

None of the top betting sites charge a processing fee for depositing with Bitcoin. It is definitely cheaper than depositing with a credit card.

A few places will process your credit card like a cash advance, resulting in a fee from your bank. This depends on the agreement you have with your bank and often results in fees. XBet and Betsson are top betting sites that charge a set fee for credit card use. They will charge an additional 5% and 2.5% respectively.

Operator Bitcoin fees Credit Card Fees
Bovada No Sometimes
GTBets No No
5Dimes No No
WagerWeb No No
Stake No No
Betsson No Yes
Bodog No Sometimes 
Xbet No Yes 
22Bet No No 
William Hill No Sometimes 

 

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