Bitcoin (₿) is back in the news again breaking all time highs in January 2021, but do you actually know what it is? Bitcoin is 100% digital and is not linked to any organisation or any country. The system is controlled by a peer-to peer network that records transactions to a public ledger called the blockchain. Bitcoins can be bought and sold, as with any currency, and if you are looking to buy for the first time we recommend you do so at XXX Here (Link).
Bitcoin represents a new way to pay for things in a very safe, very secure, very annonymous way. This includes Bitcoin sports betting. As of late 2016 you can now use Bitcoin to fund betting sites in the UK and using this currency provides a great way to keep track of your betting transactions away from your normal bank account.
Top 5 UK Bitcoin betting sites
(our partners) that accept bitcoin. With small descriptions about each - what types of bets can be made with bitcoins (sports, e-sports, etc), do they accept other cryptocurrencies, are there any bonuses for users with bitcoins, other related information. Also add CTA blocks (like this one- https://yadi.sk/i/gnBrEUncsUfc7g
How to choose bookies which accept Bitcoin
There are none. But if there were then the betting sites that accept bitcoin which we would recoemmend would be...
How to Deposit Bitcoin
You can only deposit Bitcoin into bookies that accept bitcoin. There are no legal UK bookies that allow this.
How to Withdraw Bitcoin winnings
You can not but if you could it would only be from bookmakers that accept bitcoin. These sites would also allow you to withdraw it.
Conclusion
Well... mbet.io is pretty good.
Frequently Asked Questions
The short answer to this is simply "yes", bitcoin betting is as safe as anything else anyway. There is the same risks as any other payment methods but no extra risks apply to Bitcoin specifically. Bitcoin betting sites are as safe as anything reasonably can be.
At the time of writing it is perfectly legal to fund your sports betting with bitcoin in the UK. It is hard to find betting sites that accept Bitcoin but it is legal to use them when you do.
Bookies that accept bitcoin are inherantly no safer or more risky than anybody else. It is just a medium of exchange with no direct correlation with a bookmakers solvency.
Bitcoin betting sites generally have all the same sports and markets covered as any other bookmaker. The bookmakers which exist catering solely for Bitcoin at present have a very heavy focus on Football and Horse Racing, but when there is major events in any other sport they usually offer odds on that too.
At the time of writing, in the UK, the short answer is "no". Regardless of what it is that you are gambling, the fact that you have won it by gambling means that there is no tax to pay. Sports betting with bitcoin is as tax free as using £s, or Euros, or cucumbers for that matter.
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