With the growing support for cryptocurrencies on online gambling platforms and the explosion of esports betting, you might have yourself out here looking for a beginner’s guide. What luck, this is our beginner’s guide to crypto esports betting.
If you’re curious about getting involved in crypto esports betting, we’ve put together this guide exactly for newcomers like you who want to dip their feet into the crypto scene. We’ll clue you in on the basics and give you a sound starting pad from which to begin your journey into crypto esports betting.
At its core, crypto esports betting is just like regular esports betting. You place a wager on matches in games like CS2, Dota 2, or Valorant. You’re just going to be using crypto instead of traditional fiat currencies. There are loads of different options for cryptocurrencies and most sites support a variety of options. You might have heard of some of the bigger ones, such as Bitcoin (BTC), which has become synonymous with the crypto space as the first cryptocurrency. There are other options though, some people prefer to use Ethereum (ETH), for its faster transactions. Another option you might want to consider is Tether (USDT), which is known as a ‘stablecoin’ meaning its value is pegged to the US dollar.
For beginners in this space, I would always recommend Litecoin (LTC) or Tether (USDT). Litecoin is known for speedy transactions and lower fees (compared to bitcoin) but it’s a long standing crypto which means it’s known for its reliability. Tether is a good choice because it’s pegged and stable – this means you’re not going to get any nasty surprises when it comes to managing your bankroll.
Ultimately, I think the wisest decision here is to keep a mix of different cryptos. Say USDT for stability but also have some LTC for actual transfers as it’s going to be cheaper and faster.
Apart from the usual reasons that people might decide to decentralise and use crypto, like privacy or as an investment opportunity, there are a couple specific reasons why you might want to adopt it for online gambling.
Deposits and withdrawals happen in seconds and minutes, not days. Most crypto payments are settled very quickly and they tend to be easier than traditional bank payments.
If you’re used to paying banking fees, you’re probably going to find it’s cheaper to use cryptocurrency as you’ll be cutting out traditional payment processing intermediaries. This means your deposits will make more impact and you’ll keep more of your winnings when you cash out.
If you hunt around for long enough, you might find that some operators offer exclusive bonuses for crypto players. These might be special deposit matches or even free bets. We’ve got a guide breaking down what an esports betting bonus might look like and how to best use them. Some operators even design promotions specifically for crypto players, such as reload offers or an esports betting bonus tied to big tournaments. For example, Dota 2 esports betting with crypto often comes with cashback specials during The International.
It’s not surprising that the growth in this space is surging and the industry is growing substantially year-on-year, nearly 35% since 2023.
We’ve broken down the normal steps for getting started on your crypto esports betting adventure. There are two different approaches that are worth talking about first; crypto wallets and sites that allow you to buy crypto with your betting account. Either works great but you might find if you go down the wallet route, the security of your crypto is your hands. Whereas, if you let a betting platform site handle all of it for you, you might lose some of the benefits associated with crypto.
It’s worth noting that picking your operator is more than just about picking a site you like the look of. Make sure the games you want to bet on are actually supported. If you’re into Valorant, it’s worth making sure that the site you pick actually supports Valorant crypto markets and offers markets consistently.
Choose a wallet, if you’re new to crypto I’d strongly recommend doing some research on which wallet to use. There are different types of wallet, here’s a table breaking them down.
| 💲 Type of wallet | ❓ What they are | 🎖️ What they’re best at | ✅ Examples |
| Hot Wallets | Online, fast access wallet for everyday spending and use. | Fast deposits and easy withdrawals. | MetaMask – not super beginner friendly Trust wallet – offers lots of support for different blockchains Exodus – nice desktop/mobile wallet with a clean interface, supports loads of coins |
| Exchange wallets | Crypto held on an exchange account, easy but less secure. | Beginners who already use an exchange. | Coinbase Wallet, Binance Wallet, Kraken Wallet etc |
| Cold Wallets | Offline hardware wallet; maximum security and maximum faff. | Storing large amounts of crypto safely in the long term. | Ledger Nano X, Trezor Model T. |
Ultimately, my recommendation is for you to use one that best suits your use case. If you’ve got loads of cash in crypto and you want to keep it as secure as possible, then a cold wallet is going to be the best path forward for you. However, if you’re just wanting to dip your toes in and play around, then a hot wallet is going to save you money up-front and probably make the experience more enjoyable.
If you’re using a site that helps with this, like Stake.com, you’ll find they facilitate this kind of stuff and may be a better option if you’re totally green.
If you’ve gone down the wallet approach, you’ll have to buy some crypto before you can deposit and play. Always, always use a trusted exchange or service. It’s worth considering which crypto you’re buying, if you’ve already chosen a site that you want to use for esports betting, then make sure they accept it.
It’s also worth noting when you’re choosing your coin of choice, you should think about the games you’ll actually be betting on. CS2, Valorant, and Dota 2 are supported nearly anywhere. But if you’re chasing niche markets, like the best WoW esports crypto betting options, you may need to look around for the operator that accepts whichever coin you’ve decided.
Much like choosing a wallet, finding the right exchange for you is a personal preference based on your needs and requirements. Coinbase is often touted as one of the best around but unfortunately, in my experience, they can be a heavy handed when it comes to blocking transactions to gambling sites.
Binance is another great option but you might find it’s restricted in some countries due to regulatory issues. Kraken also stands out for its long track record, strong focus on compliance and security and supports most of the major cryptos you’ll see when it comes to esports crypto betting.
If you’re using a platform which enables the purchase of crypto, then away you go.
Check that whichever site you choose supports your chosen currency. Have a look at the banners on this page to see where you can find betting sites suitable for your area. When looking for an operator, make sure they actually support the titles you want to play. Bitcoin remains the most universal coin in gambling and CS2 betting with BTC can often be the smoothest way to test a new site out – as always, I would encourage you to shop around and try out different operators.
If you’re a fan of Valorant, then you really are going to want to find a site that offers Valorant crypto betting markets consistently.
Deposit your crypto on your chosen platform and start playing!Explore your favourite games, whether it’s pre-match or live markets.
If you’ve made some successful choices, you’ll be able to withdraw your winnings – just like you would with a fiat currency.
If you’ve chosen a wallet, it’s important to note that this is how you’ll manage your security. I would highly recommend making sure you’re properly au fait with how best to protect yourself and your crypto wallet.
Here’s a quick breakdown of the pros and cons of crypto esports betting:
If you’re brand new to crypto and esports betting, it can feel like two completely new worlds crashing together. The reality is that if you’re looking for esports betting, crypto makes it faster, cheaper, and gives you a whole bunch of extra bonus opportunities.
Whilst it’s true there’s definitely a learning curve when it comes to crypto and you’ll have to stay aware of things like crypto volatility and wallet security, I’m certain you’ll quickly become a convert. Now that you understand the basics, the next step is to find the right operator that works for you – check the banners on this page to find the best crypto-friendly esports betting sites available where you are.
The key things to look for when you’re choosing a betting platform are whether or not it’s licensed, their support for different currencies, and the coverage of games you’re looking to bet on.
Yes, many operators even give boosted, crypto-only promos. Some platforms offer 100% crypto deposit matches up to 1 BTC, while others give 10-20% reload bonuses or cashback on losses.
Whilst it depends where you are in the world, it’s worth doing a bit of research to make sure that the site you’ve chosen is licensed and legal.
No, most sites offer a variety of different options for when it comes to cryptocurrencies.
21+ and present in VA. Gambling Problem? Call 1-800-GAMBLER.
