Millions of people watch tournaments for games like Counter-Strike 2, League of Legends, Dota 2, and Valorant, and betting on the outcome is a popular part of that. Crypto has become the payment method of choice among many eSports bettors thanks to fast transactions and borderless access.
Read on to learn how eSports betting with crypto works and what you need to get started.
TL;DR
- eSports betting with crypto skips banks, speeding up deposits and withdrawals and offering more privacy than traditional sportsbooks.
- The process involves depositing crypto, selecting a match, choosing a bet type, placing a wager, and withdrawing winnings to your wallet.
- Most crypto sportsbooks support a range of coins, but check that your preferred one is accepted before signing up. Withdrawals typically process within minutes, depending on the chain and the platform’s rules.
What You Need Before You Start Betting on eSports with Crypto
With traditional sportsbooks, you deposit directly from a bank account or using your debit card. Crypto sportsbooks usually require you to manage your own funds through a digital wallet. That means that there are a few extra steps if you aren’t already an active crypto user.
Here’s what you need to start betting with crypto.
A Crypto Wallet
A crypto wallet stores your coins and lets you send and receive cryptocurrency. You can use a custodial wallet (a third-party service that holds your keys for you) or a non-custodial wallet that gives you direct control over your funds and thus greater security. It’s important to do your own research before choosing a wallet.
A Crypto Bankroll
You can buy crypto through centralized exchanges, P2P platforms, or fiat on-ramps (sometimes available directly on the betting platform).
After purchasing, transfer the funds to your personal wallet, then deposit them into your sportsbook account. Always double-check the receiving address before confirming the transaction. You will need to account for network transaction fees as well because crypto transfers incur transaction fees.
An Account on a Crypto Sportsbook
You need an account on a crypto sportsbook that offers eSports markets. Many crypto-native platforms only require an email address to register, with no identity verification, although this varies and KYC requirements can still kick in at some point. Examples include 1xBit, Dicey, Rakebit, Rollbit, and Winna Casino.
How to Bet on eSports with Crypto, Step-by-Step
Now, let’s go through how you can place your first esports bet using cryptocurrency.
Step 1: Create Your Account
Sign up with an email address and password, or connect your wallet directly if the platform supports it. Enable two-factor authentication if available. You may need to confirm your email address before continuing.
Step 2: Deposit Crypto
Navigate to the wallet or cashier section and generate a deposit address. Copy that address, initiate a transfer from your personal wallet, and confirm the transaction.
Double-check the address and network before confirming, as crypto transfers are irreversible. It might take a few minutes before the transaction goes through. The platform will then display your balance.
Step 3: Select an eSports Match
Head to the eSports section and browse game titles, tournaments, and markets.
Common bet types include moneyline (pick the match winner), map winner (bet on the outcome of a single map), and total maps (wager on whether the series goes over or under a set number of maps). Each works differently, so review the options before placing a wager. Also keep in mind that different games tend to offer different types of bets.
Step 4: Place Your Bet
Click the odds to add a selection to your bet slip, enter your stake, and review the potential payout. Odds on crypto platforms are often shown in decimal format, where your stake multiplied by the odds equals your total return, including the original wager. On most platforms, you can change the preferred format to American, fractional, or others.
Confirm the bet to lock it in.
Step 5: Withdraw Winnings
Once you’ve won and the winnings have been credited to your account, navigate to the withdrawal section, enter your wallet address, specify the amount, and confirm. Most crypto sportsbooks process withdrawals within minutes, though actual processing times vary by network.
Always verify your wallet address before withdrawing funds.
The Takeaway
Crypto has become a practical payment option on eSports betting platforms due to its speed, privacy, and borderless accessibility. That’s why an increasing number of online betting platforms are opting for digital currency support.
Still, remember that betting carries financial risk regardless of whether you use fiat or crypto. So, if you’re going to bet, it’s probably wise to set a budget, stick to it, and never wager more than you can afford to lose.
Disclaimer: Betting involves financial risk and is intended for entertainment purposes only. Check the laws and regulations in your jurisdiction before participating in online betting, and always gamble responsibly.
