If you’re an online gambler – and, if you’re reading this, you either already are or you want to be – then you’ve probably been thinking long and hard about taking advantage of Bitcoin and/or other cryptocurrencies when placing your bets.
As a primary bet funding method, crypto is legitimately superior to Visa gambling, Mastercard gambling, and even PayPal and Venmo gambling at sites that support P2P options.
All major online casinos, online sportsbooks, and online poker rooms support Bitcoin deposits and other crypto deposit methods, and these always come with bigger bonuses – along with the added bonus that the UIGEA banking regulation can never interfere with your gambling banking transactions.
Of course, if you already bet with Bitcoin and altcoins, you likely don’t need any further convincing to stay the course. And, frankly, you’re probably already well aware of what we’re about to tell those countless players still sitting on the crypto fence.
In other words, this post – as online gambling deposit advice – is for the crypto skeptics and the heretofore crypto averse. Basically, if you don’t yet bet with crypto, read this short article. It just may change your mind.
So, you might ask, why are we writing this during the height of a massive crypto crash?
Short answer: Because we’re at the height of a massive crypto crash!
Outside of the guaranteed transactions and enhanced betting bonuses that crypto betting provides at all the best legit online gambling sites – even outside the fact that crypto is the only way to claim same-day payouts from these gambling sites – is that the best time to think about funding your gaming account with BTC etc. is during a market lull.
And this, obviously, is much more than a mere market lull.
Between the catalog of sites we recommend – such as Bovada and BetOnline – you have nearly 20 different crypto coins with which you can wager.
Different sites support different coins, but holders of any of the coins listed below will find at least one operator among our online gambling reviews that will gladly accept your virtual coinage as legal (offshore) tender.
Each coin in question is listed alongside its current price in USD, with its 2022 high and all-time high in parentheses. (All values greater than $10 are rounded to the nearest dollar.)
- ApeCoin (APE) – $4.48 ($26, $26)
- Avalanche (AVAX) – $17 ($98, $135)
- Bitcoin (BTC) – $21,388 ($47,466, $67,567)
- Bitcoin Cash (BCH) – $120 ($435, $1766)
- Bitcoin SV (BSV) – $65 ($124, $441)
- BNB (Binance Coin) – $224 ($531, $676)
- Cardano (ADA) – $0.49 ($1.59, $3.09)
- Chainlink (LINK) – $7.16 ($28, $52)
- Dogecoin (DOGE) – $0.07 ($0.19, $0.68)
- Ethereum (ETH) – $1151 ($3521, $4800)
- Litecoin (LTC) – $54 ($152, $386)
- Polygon (MATIC) – $0.44 ($2.55, $2.88)
- Shiba Inu (SHIB) – $0.00001065 ($0.000034, $0.00008)
- Solana (SOL) – $37 ($176, $249)
- Stellar (XLM) – $0.12 ($0.29, $0.48)
- Tether (USDT) – $1.00 ($1.00, $1.00)
- USD Coin (USDC) – $1.00 ($1.00, $1.00)
- XRP (Ripple) – $0.33 ($0.88, $3.38)
As you can see, each major gambling coin is currently trading at or near a several-year low (or – for all intents and purposes – a post-launch all-time low for coins with just a year or two under their belts).
Why, then, is it the best time to bet with crypto?
Well, we aren’t actually saying that. Frankly, it’s not the best time to bet with crypto.
It is, however, the best time to get ready to bet with crypto.
In other words, it’s the best time to load up your crypto wallet with the intent to bet with your coins once the market recovers and the value of those coins goes up.
Logically, here’s how you can take advantage of the crypto dip for all your online betting. We’ll use Bitcoin as our example, since BTC still reigns supreme among the international online betting community.
Bitcoin is currently trading at $21,000 or so. However, the 24-hour BTC low (per CoinMarketCap, which we recommend as a great web-based and app-based resource for tracking live crypto prices) is $19,900 or so. The weekly low is even lower, with Bitcoin prices falling briefly under $18,000 back on June 18.
But generally speaking, BTC is still at an uncharacteristic low (and the same is true for just about every other coin listed above).
So, if you buy Bitcoin now, you’re getting in at or near the lowest BTC price in years. For investing, that’s where you want to get in. And the same is true for online gambling.
If you buy Bitcoin today at $21,000-ish, it’s only a matter of time before it goes back up significantly. Remember, BTC values can rise or fall by 10 percent or more per day, and the Bitcoin all-time high (ATH) was right around $68,000 per coin in November 2021.
And given Bitcoin’s track record of always eventually eclipsing its ATH, well, you can do the math.
At any rate, if you’re an online gambler, now’s the time to load up your wallet with an eye on betting later.
Let’s say you purchase some BTC today and the price goes up to $35,000 next month. If you move your BTC into your betting account then, you’ll effectively be able to bet at the rate of $1.75 to the dollar. That is, you’ll get 75 percent more for your money (on top of any betting bonuses you accept).
Put another way, what would be a $1.00 USD equivalent wager today will be a $0.57 wager in today’s money next month (or whenever BTC hits $35,000 again – which should be sooner rather than later).
And, naturally, this tack should work with all the other crypto coins listed above, given their current prices compared against their 2022 highs and ATH figures.
As a side note, this strategy largely involves you buying crypto now and waiting to deposit the stuff at your betting site of choice only once you see sufficient or acceptable gains.
This is because in most cases, your online betting site will convert your crypto deposit into its equivalent live-market USD price upon moving it into your gambling account.
Alternatively, all the top sites allow you to credit your account in milliBitcoin (mBTC), which will constantly reflect the live market price of Bitcoin.
Therefore, if you want to deposit in BTC, you can do that as soon as you buy the stuff, provided you keep your account credited in mBTC. For all other cryptos, you should probably wait, though you can also credit things like Litecoin and Cardano deposits in mBTC, too.
In general, we recommend this latter approach.
But if you’re going to make crypto deposits to gamble in USD (and believe it or not, there are a few reasons to do this, which we’ll discuss another time), then you’ll want to wait until your coin hits an acceptable value before moving it over to your betting site.
Long story short: Buy some crypto, wait a while, and then bet for pennies on the dollar.
The next step – timing your withdrawals for maximum profits – will be covered in a future article, so be sure to bookmark our newsfeed to stay in the loop.
