Best Online Crypto Sportsbooks in 2024

✅Fact Checked by: Michael Savio

As the legal online sports betting landscape expands across the United States, the rollout of sites accepting cryptocurrency has been slow compared to all other deposit methods.

That said, there are plenty of advantages to using cryptocurrency. These advantages include their innate safety, fast transaction processing times, and the amount it’s worth can fluctuate, leading to you potentially having more money to wager with.

Our expert here at USALegalBetting.com will discuss cryptocurrency more below, but it’s time to start thinking about cryptocurrency and how it could become available more across legal online sportsbooks in the United States.

Cryptocurrency is a digital/virtual currency from blockchain technology, meaning it’s decentralized.

Still, it also has excellent cryptography for security. It operates independently from other deposit methods at online sportsbooks but is also relatively difficult to track.

The first-ever cryptocurrency was Bitcoin, which became available in 2009. Satoshi Nakamoto created it, but it’s unclear if this was a single person or a group of people going under the name. 

Cryptocurrency became more mainstream in 2017 after the prices skyrocketed, which attracted a lot of media attention resulting in people’s first-ever exposure to it. 

Today, it’s used for many online transactions and, slowly but surely, online sports betting in the United States.

As it stands right now, in August 2023, the only crypto betting sites in the United States are Barstool Sportsbook Colorado and Barstool Sportsbook Virginia.  However, the sportsbook will be switching to ESPN Bet this November. ESPN Bet’s supported payment methods are still unknown, so time will tell if Bitcoin remains an option.

Barstool accepts numerous types of cryptocurrency, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and more. 

Right now, it can only be used as a deposit method, likely due to the inability to track it effectively for withdrawal purposes, but yes, Bitcoin betting is available. 

This could be expanding in the future, though, as Wyoming became the first state to view crypto as legal tender for betting on September 1, 2021. It has yet to be implemented, though.

As mentioned, only one legal online sportsbook in the United States offers cryptocurrency as a banking option, so below, consider this table streamlined information for what we laid out above.

Right now, just one online crypto-betting site in the United States is legal and regulated.

So, right now, we rank them based on availability, which belongs solely to Barstool Sportsbook. 

That said, there are ways we’ll evaluate them in the future as more become available.

Deposit/Withdrawal Availability

This might be obvious, but we first consider whether a site offers it. We can speculate which sites might eventually offer it, but having it in an extremely limited space will always take precedence. 

Payout Speed

Barstool Sportsbook doesn’t allow withdrawals with cryptocurrency. Still, when that day comes that more sites have it and withdrawals are possible, we expect withdrawals to be relatively fast considering how cryptocurrency works.

It’s secure, and you can send money quickly between wallets. 

Customer Support

As cryptocurrency becomes more prevalent, having qualified and knowledgeable customer support representatives will be vital.

This will be an extremely new landscape, and helping bettors who may be using it for the first time will be paramount to a safe and secure betting environment. 

Betting Markets/Bet Types

As with any online sportsbook, the more betting markets and bet types available, the better.

Cryptocurrency will be used for deposits, as seen with Barstool Sportsbook, so having numerous options for sports/events to bet on and the ways to do so will be great for any bettor. 

Bonuses/Promotions

As cryptocurrency becomes more available, we’ll likely see promotions based around using it to encourage more use on the platforms that have it.

We’ll look for this, but we’ll also consider the standard welcome bonus, as this is the first introduction a player will have with crypto betting sites.

We consider the terms and conditions to evaluate these, such as minimum deposits, betting odds, expiration dates, wagering requirements, and more.

Before you dip your virtual toes into the land of online crypto betting at legal and regulated United States sportsbooks, there are some steps you’ll need to take to use cryptocurrency as a banking method.

1. Learn About Crypto: Just because this option is available doesn’t mean it will be something everyone wants to use. Take some time to understand the various types of cryptocurrency and any risks, such as price fluctuation.
2. Set Up A Crypto Wallet: Picking a crypto wallet allows you to store, send, and receive cryptocurrency. There are numerous wallets out there, so this is something else you’ll need to research.
3. Find A Crypto Exchange: A crypto exchange lets you buy, sell, and trade cryptocurrencies. You’ll want to find ones based on security features, whether there are any fees, customer support, and more. A well-known one is Coinbase; there’s also Kraken and many others.
4. Verify Yourself: To get started using crypto, you must complete some verification processes.
5. Add Money To Your Wallet: After this, you can use USD to purchase cryptocurrency and add it to your wallet.
6. Pick An Online Sportsbook: Now that your wallet is all set and money is in your account, you’ll find a legal online sportsbook that accepts cryptocurrency and make a deposit.
7. Place a Bet: After successfully depositing into your online sports betting wallet using cryptocurrency, you can make your first wager by adding a contest to your betslip and completing the process.

Yes. Cryptocurrency is legal in the United States. However, there’s an important distinction to make.

Cryptocurrency isn’t legal tender, but it’s legal assets you can still sell and trade, making them eligible for Barstool Sportsbook CO and VA. However, some states have either banned or restricted it. States are allowed to set their own laws around digital currency, though that may not last. The US government has taken a bigger interest in cryptocurrency, which could lead to more federal regulations.

Wyoming also allow betting with crypto, however none of the sportsbooks that operate in the state currently accept crypto.

In a recent developmnet House Bill 347 which was passed in North Carolina in June 2023 and signed by Gov Cooper has permitted registered players to deposit cash or cash equivalents, while listing cryptocurrencies as a cash equivalent.

The Securities and Exchange Commission oversees cryptocurrency and other organizations such as the Commodity Futures Trading Commission, Financial Crimes Enforcement Network, and others.

It’s important to note that this is an ever-changing landscape that we’ll continuously monitor.

While cryptocurrency may seem like another method for making deposits at online sportsbooks, it certainly has advantages over other deposit methods.

• Bonuses/Promotions: When cryptocurrency becomes more widespread, we can all but guarantee that there will be promotions centered around using cryptocurrency for deposits, such as receiving a deposit bonus.
• Streamlined Banking Method: Depending on how the interface is set up at the sportsbook, you’ll likely be able to seamlessly make deposits, especially after using it once. It could save your wallet to make the process faster.
• Potentially Larger Wagers: There’s volatility with cryptocurrency, but there could be a time when you plan on betting $50 in cryptocurrency for a game coming up on the weekend, and the value goes up, and now you have $55, for example, to wager instead.

The only legal betting site in the United States offering cryptocurrency is Barstool Sportsbook. Per our research, no welcome bonus or crypto-specific promotions are available.

Barstool Sportsbook has a mobile app for those playing in Virginia or Colorado, where crypto betting is available.

You can use cryptocurrency to deposit on a desktop, mobile web browser, or mobile app.

At Barstool Sportsbook, there aren’t multiple betting apps for each state, but one centralized app you can download from the iOS and Google Play Stores.

This might be one of the first times you’re learning about cryptocurrency. While we mentioned it earlier, you might ask, “Can I use crypto without a wallet?”

In short, the answer is no. You must have a wallet to use cryptocurrency, the hub that holds your balance, and it comes with a unique link you’d use during the deposit process.

We’ve discussed the various cryptocurrency methods available at Barstool Sportsbook, but we’ll discuss them more below.

• Bitcoin: The original cryptocurrency was first used in 2009.

• Bitcoin Cash: This was created in 2017 after a split from the Bitcoin blockchain. The split came from a disagreement in the Bitcoin community about how it will scale and processing capacity. 

• Ethereum: Also known as ETH, Ethereum is the second-most well-known cryptocurrency, launched in 2015 and created by Vitalik Buterin. 

• Litecoin: This was created by Charlie Lee in 2011, who used to be a Google engineer. It’s similar to Bitcoin but supposedly has faster transaction confirmation times. 

• DASH: This is short for “Digital Cash.” It was launched in 2014 as another split from Bitcoin. Its goal is privacy and speed.

To purchase cryptocurrency, you’ll need to locate a crypto exchange, as mentioned previously.

The most popular sites include Coinbase, Binance, Kraken, Gemini, eToro, Coinmama, and many more. 

After you decide where to play, you’ll fund your crypto wallet with USD and then purchase cryptocurrency.

Online sportsbooks offer many ways to deposit funds into your account, but how do they compare with cryptocurrency?

The most popular methods for performing deposits are PayPal, Skrill, Visa, MasterCard, and PayNearMe.

• Cryptocurrency is a decentralized currency, meaning they operate peer-to-peer. It’s more difficult to track, which is likely why it’s unavailable as a withdrawal method. In contrast, the other methods are centralized and can be more easily tracked, which is necessary for taxation purposes.
• Cryptocurrency isn’t a static value like the other methods. Cryptocurrency reflects its market, where if you spend $50 through PayPal, you’re spending $50. The value of $50 for cryptocurrency can fluctuate by the second.
• As you can see from this page, cryptocurrency isn’t widely accepted as a valid legal tender. Using the other methods, you’ll have far more online sports betting options.

Cryptocurrency has only scratched a minimal surface in the legal online sports betting landscape, but it’s something that’s bound to cause waves when it becomes more widespread.

The issue with it right now is how decentralized it is, meaning it’s unclear whether or not you’ll ever be able to withdraw sports betting winning with it. 

However, as a deposit method, this will alter how sports bets are handled and the betting strategy.

The value of it can change rapidly, so if you use cryptocurrency, you might have to develop a somewhat new strategy for betting in terms of when and how much. 

The possibilities are endless when you think about cryptocurrency becoming more widespread in the legal United States sports betting landscape.