Cricket matches, e-sports, and traditional sports are all looking for ways to help their customers bet with bitcoin.
Betting with bitcoin helps customers save money on fees while increasing transfer times. It also helps bookies and betting sites reduce their operating costs and offer better bonuses to their customers.
In this article, we’ll take a look and see if you can use cryptocurrencies to bet on cricket matches.
We’ll also see the basics of betting using cryptocurrencies so that you can be prepared to take the first steps if you choose to bet on cricket matches with bitcoin or other cryptocurrencies.
Bitcoin Betting on Cricket Matches
If you’re a fan of cricket and visit cricket specific websites that display stats and games, then you might be wondering if you can use that knowledge to place some good bets
But can you use cryptocurrencies to bet on cricket matches?
The answer is: it depends on where you live
In short, cryptocurrencies are only another form of payment. Bitcoin and other cryptocurrencies may be quicker to transmit and cheaper to move than fiat through SWIFT or ACH, but they are still just another form of payment.
The real hangup with betting on cricket matches comes from the legality of betting in the first place.
Is it legal to bet on cricket matches from where you live?
If so, then chances are high that betting using cryptocurrencies like bitcoin is just as legal.
For example, if you live in the USA, then an article from Legalzoom sums it up nicely:
There is a small chance players might run afoul of state law, but there is little chance of prosecution. The only case cited where a person got into trouble with a state was in 2003. Jeffrey Trauman of North Dakota paid a $500 fine on over $100,000 of online sports bet winnings.”
Basically, if you live in the USA then -- at a federal level -- it’s legal for you to bet on cricket matches.
You may want to check with your local state, county, and city laws just in case they prohibit online sports betting or gambling.
The other thing to note is that a site that allows cricket betting (regardless if it accepts cryptocurrencies or not) cannot be located in the USA.
Make sure the sites you place bets on are located in a country where it is legal for them to operate.
The rules above are centered around residents of the USA. If you reside in a country other than the states, then please do your own research about your own countries laws in the language of your country.
Basics of Bitcoin Betting -- Cricket and More
Once you’ve established whether or not your local laws allow you to bet online -- and the answer is yes -- then it’s time to learn a little about the basics of betting with bitcoin and other cryptocurrencies.
All the online betting sites mentioned in the article linked at the top will accept bitcoin betting. Those online betting sites have been thoroughly vetted and compared to present you with the choices right for you (your location, country laws, and other specifications).
Once you choose a site, it’s time to deposit your Bitcoin there.
But what if you don’t have any?
You’ll then need to acquire some cryptocurrency through an exchange operating in your country, through someone local, or other means that work best for you.
Once you have some crypto -- and you know the site you want to use for online betting -- then it’s time to transfer it over.
Keep in mind that when you’re transferring Bitcoin and other cryptocurrencies, you should always double-check the addresses.
Check the sending and receiving addresses when you are making deposits and withdrawals even if you used a QR code scanner or copy/pasted.
Bitcoin and crypto addresses are long strings of numbers and letters. They can be mistyped or wrongly entered.
If you enter a wrong address, you can lose your funds forever...since crypto does not have a chargeback feature.
After you’ve checked the addresses and sent your funds, it’s simply time to place your bets and have fun!
Good luck out there!