Crypto 101
How to use Bitcoin for sportsbooks
New to crypto? Don't worry — this guide walks you through everything step by step. By the end, you'll know how to buy, send, and withdraw crypto confidently when betting offshore.
Why sportsbooks prefer crypto
Faster deposits and withdrawals — often minutes instead of days.
Lower fees and higher transaction limits compared to credit cards.
Extra privacy and fewer chances of bank declines.
Create a Coinbase account
Coinbase is one of the most beginner-friendly crypto exchanges. Sign up, verify your ID, and link a payment method (bank transfer or debit card). Once approved, you can buy Bitcoin (BTC) or USDT (Tether).
Buy Bitcoin (or USDT)
On Coinbase, choose the cryptocurrency you want to buy. Start small until you're comfortable. Purchases usually clear quickly.
Transfer to a personal wallet
For extra security, move your coins into a personal wallet like the Bitcoin.com Wallet. This wallet also lets you refresh and generate new deposit addresses anytime — perfect for sportsbook withdrawals.
Deposit to a sportsbook
Log in to your chosen sportsbook, go to the deposit section, and select Bitcoin. Copy the wallet address provided, paste it into your wallet app, enter the amount, and confirm the transaction. Double-check addresses before sending!
Withdraw winnings
When cashing out, request a withdrawal to your personal wallet. Always refresh to generate a new address in Bitcoin.com Wallet for better privacy. From there, you can transfer back to Coinbase to cash out to your bank.
Crypto safety tips
- Always double-check wallet addresses before sending funds.
- Start with small test transactions if you're new.
- Keep large balances in your own wallet, not on exchanges.
- Enable 2FA (two-factor authentication) on all crypto accounts.
Note: this guide is for educational purposes. Always follow your local laws and gamble responsibly.