Cryptocurrency is moving at an unexpected rate — no one can deny that. From shopping, fund-raising, and trading to traveling, education, and even gambling, cryptocurrency is being used in a wealth of Internet fields.
Out of the popular cryptocurrencies is Bitcoin Cash (BCH), which is a separately existent Blockchain that emerged from Bitcoin as a result of a hard fork. Launched into the cryptocurrency market on August 1, 2017, Bitcoin Cash has undoubtedly made a progress in endearing itself to traders, miners, developers, and enthusiasts who had craved for an alternative to Bitcoin’s scalability issues. This, at that time, was already beginning to take a toll on digital money transactions in general.
Just because a sportsbook claim to be accepting BCH, promises outrageous bonuses, have a number of positive reviews, or have existed in the sports betting industry for years is not be enough reason to use it. Truth is, there are myriads of Bitcoin Cash sports betting sites out there making promises of incredulous bonuses to be offered to you after you make your first deposit but dove afterward. How about some of the sites that have falsified their reviews to lure unsuspecting gamblers? You need to understand that some sites have nothing to offer but exist just to scam. Therefore, caution is advised.
Meanwhile, here are a couple of Bitcoin Cash sportsbooks — three to be precise — that we came up with after intense research into their credibility, reputation, authentic reviews, security, legit promotional offers, fast payouts, transparency, and excellent customer service. We can comfortably say that with these three, you could relax and consider online sports betting a safe haven.
When you are looking for a sportsbook that offers instant gratification like faster cashouts, BookMaker.eu is it. As long as your deposit has at least one Blockchain confirmation, it will be credited to your balance instantly.
The BookMaker.eu BCH sportsbook offers betting on sports such as basketball, soccer, American football, baseball, tennis, cricket, table tennis, Aussie rules, futsal, and electronic sports. They also take pride in the overall betting selection. You can bet Bitcoin Cash on your favorite sporting tournaments and leagues such as the NBA, NFL, NCAA, ATP, WTA, WNBA, NCAA, UEFA Champions League, English Premier League, EuroCup, eSports, Olympics, EuroLeague, and lots of other high-profile sporting events.
Compared to most sportsbooks out there, BookMaker.eu offers an opportunity to place a bet while a match is ongoing. So if you are a player who prefers to wager before or after a match commences, BookMaker.eu has got you covered. Numerous live events are available for betting with Bitcoin Cash.
BookMaker.eu’s crypto sportsbook strives towards being the market leader in Bitcoin Cash withdrawals and deposits, and normally have your BCH sent to your address immediately the security check is reviewed and completed. They often send an instant Bitcoin Cash withdrawal email as soon as a withdrawal request is received, though confirmation is expected before WD finds its way to the security department.
On top of all of this, BookMaker.eu offers a large deposit bonus for players using Bitcoin Cash as their banking method. As one of the absolute oldest brands in the industry, BookMaker.eu is a clear top choice for BCH sports betting.
Due to its long-time reputation, legit transactions and transparency in operations, Bovada gladly makes our list of BCH sportsbooks. Cryptocurrency for deposits is highly welcomed with mouth-watering bonuses to players who wager with it.
Bovada offers a 100 percent deposit bonus to new gamblers who use cryptocurrency — precisely those who wager with Bitcoin or Bitcoin Cash. They, however, offer a 150 percent bonus to gamblers who want to use their Bitcoin Cash for casino games rather than sports betting. Terms and conditions apply; hence, it is best to read their terms and conditions before accepting any bonus. However, you can forfeit your bonus if you intend to withdraw immediately.
With Bovada, you are allowed to make deposits and withdrawals. When you deposit Bitcoin Cash, it is converted into the market rate of USD for use in your account. So, you have to wager in USD; for instance, if you want to bet $50 on a sporting event, you can deposit the equivalent of Bitcoin Cash and bet in USD.
When you want to cash out, your USD balance is then converted back to BCH at the market rate and that amount is sent to the Bitcoin Cash address that you provide.
Launched in 2001, BetOnline.ag is a gambling website registered and licensed in Panama City. And as a gambling website, they offer more than sports betting — there are casino and poker games and a skilled gaming hub as well. This makes it easy for players to cross channels if they need to.
They offer a live betting option on almost all events which include NFL, NBA, MLB and NHL. The live betting interface is user-friendly; the website makes it very easy to navigate and explore.
BetOnline.ag welcomed Bitcoin Cash as one of its several deposit methods recently. And to attract more players to their huge customer base, there are fantastic and enticing bonus offers lined up — which include an initial 100 percent BTC to match your first deposit of $1,000.
As a new player, you could also use the promo code NEW2500 to qualify you for a 50 percent bonus on your first Bitcoin Cash deposit. Its maximum bonus for each deposit is $2,500, plus a $1,000 bonus for every deposit you make via Bitcoin Cash. The promo is usually linked with a 6X roll-over bonus. To be liable to receive a bonus, you must use the promo code LIFEBONUS while depositing with the cashier.
The low deposit bonus, low transaction cost, fast processing speed, opportunity to transfer funds fast, and the anonymity of wagering with Bitcoin Cash still makes it a preferred method of sports betting. With BetOnline.ag, there are no delays in payouts.
One would expect it to debut with open embrace and applause but, unfortunately, Bitcoin Cash debuted with stiff opposition and criticisms from some cryptocurrency enthusiasts who were reluctant to accept the ‘twin BTC’ as a result of its pseudo-decentralization management.
However, most enthusiasts began singing a different song when a significant price surge in November 2017 moved the supposedly failed coin into second place on the most renowned cryptocurrency data source website, CoinMarketCap. By climbing up, BCH displaced the then-second and now-second coin, Ethereum (ETH).
This became more like a homecoming event as Bitcoin Cash’s critics started sourcing for information on how to be a part of it by getting a share. Having seen it has an enormous potential of being the likely successor of the king of cryptocurrency — Bitcoin (BTC) — in no distance time.
Today, betting on sports is more popular than ever. In the United Kingdom, the online gambling market (sports, casino, and poker) was estimated to be around £1.9 billion in 2010.
In 2003, ESPN The Magazine found that one in every four citizens of the United States is involved in sports betting once a year, to say the least. In addition, roughly 15 percent of the whole U.S. population place wagers on sporting events frequently and the online sports betting market is worth more than $60 billion, year in and year out. Incredible statistics for a country where gambling is widely illegal (illegal in some States, legal in some States).
In 2016, Nevada — one of the few States that has moved to legalize gambling in the United States — generated a whopping sum of $2 billion in betting revenue through more than 150 sportsbooks. You can only guess how this flattering figure is achieved, if not by gambling enthusiasts who enjoy anonymity in sports betting through cryptocurrency. (Nonetheless, sports betting is still behind casino and poker gambling in Nevada.)
Presently, there are over two hundred gambling sites which allow the use of BTC in sports betting. Yet, the same cannot be said of BCH because it is still relatively new in the cryptocurrency market. Even at that, the feats of this altcoin have been amazing for such short lifetime due to some of its perks over BTC: faster processing time and lower transaction fees. As a result, gamblers are beginning to opt for it as a mode of transactions in sports betting.
Nevertheless, there presently are no sportsbooks that accept Bitcoin Cash exclusively. Most accept the altcoin alongside other cryptocurrencies and/or fiat currencies. It is believed though that as BCH grows in popularity and builds momentum, it would become the preferred payment method for online sports betting and gambling activities in general.
The future of online betting can be projected based on recent statistics by The Bitcoin Strip. The stats showed a steady increase in the embrace of cryptocurrency as a mode of transactions in online gaming activities.
From 60 bets per second with 1.53 BTC or $390 wagered in the first quarter of 2015 to an average of 100 bets per second placed at 1.73BTC or $1,700 in the first quarter of 2017. (Employing the price of BTC in 2015 as against its price in 2017.) Considering that $1,700 was wagered on average, we can estimate that the crypto market generates about $13.5 million per year. This estimate does not include the turnover realized from non-prominent gambling sites; this would have increased the estimated amount.
Even though cryptocurrency has enjoyed a remarkable growth in the online gambling market, it should be noted that very few traditional, real-money online sportsbooks accept Bitcoin Cash and no sportsbook — that is regulated by a government agency in the United States — accepts Bitcoin Cash.
The number of online sportsbooks that process Bitcoin Cash transactions is minimal compared to Bitcoin. The latter has more widespread publicity and acceptance than any other cryptocurrency available. Bitcoin-only sportsbooks are numerous as well as casinos and poker sites; this is evidently understandable since BTC has been around longer than any other coin. In contrast, there are no Bitcoin Cash-only sportsbooks in existence at the moment. This is the case with Monero (XMR), Dogecoin (DOGE), and Dash (DASH) which have existed in the cryptocurrency market far before BCH.
Currently, BCH finds its place at number 4, coming after Ripple, which comes after Ethereum seated in second place behind BTC. In comparing trade volumes, market caps, prices, and other parameters of each cryptocurrency, we can easily conclude Bitcoin Cash — which is the youngest — has undoubtedly the highest rate of growth.
Bitcoin Cash has a higher processing speed than Bitcoin as confirmed by Bitcoin.com in late December 2017, when it placed the average processing speed of BTC at 34-1188 minutes as against BCH’s 8-19 minutes. Moreover, time variation depends on the sportsbook processing the transaction as each sportsbook has its own method of processing transactions.
Even with the fast processing speed of BCH, Ripple (XRP), Ethereum, Monero, and Litecoin‘s individual processing speed beats it with their processing speeds of 3 seconds, 14 seconds, 2 minutes, and 2.5 minutes respectively.
The block size limit of 1 MB set by BTC is the reason behind the slow rate in which it processes transactions and confirms them, often creating backlogs in the process. In addition, the most recent average amount of fees per block of BCH to BTC is $3.05 to $805.51 according to fork.lol. These make the choice of using BCH an easy one for gamblers keen on paying minimal transaction fees with faster processing times.
The resolution of the scalability issue of 1MB limit block size set by BTC was resolved by the launching of BCH’s 8MB limit size. This has been the most remarkable feat of BCH as it doused a lot of the hassles faced by miners, traders, and cryptocurrency enthusiasts.
BCH is the cryptocurrency of choice when you are interested in gaming without having to compete with other gamblers to have your transaction in a block.
In addition. BCH provides more flexibility to the difficult mining algorithm Bitcoin employs. With Bitcoin, changes can be made to the Blockchain algorithm just once every two weeks. With Bitcoin Cash, the difficult mining algorithm can be adjusted more frequently — another reason miners are relieved.
In using sportsbooks, there are numerous ways you could make deposits but very few ways to cash out. Most sportsbooks offer cash outs through Bank Transfer, MasterCard, VISA, Skrill, and Neteller if BCH option is not available. Some combine those methods with other cryptocurrencies.
Bitcoin Cash is growing in acceptability daily as top iconic brands are putting their weight behind it. So, we at WorldCasinoIndex are optimistic and hope to see more positive developments really soon.
When Bitcoin Cash first entered the cryptocurrency market, those with BTC were given an equal amount of BCH automatically. This made the rate of Bitcoin to Bitcoin Cash 1:1. However, due to market surges over time, BTC and BCH now have different prices, supplies, volumes, and market caps. As of April 10, 2018, the price of BTC to BCH is roughly $6,850 to $650.
One of the concerns of crypto-gambling enthusiasts has been the possibility of converting BCH to cash. Truth is, there are now exchanges willing to convert your BCH into fiat currencies (such as USD, GBP, and EUR) unlike when BCH initially hit the market. You could consider using exchanges like HitBTC, Poloniex, Kraken, ShapeShift.io, Binance, Changelly and Bittrex — and there are even more.
In contrast, due to the low exchange availability of Bitcoin Cash, some exchanges do not indulge in buying BCH or accepting fiat currencies in exchange for BCH. If you are at a loss of how to convert your BCH to cash, you could consider converting your BCH to BTC first and then converting the BTC to cash.
The conversion process might need a little research — but it is not cumbersome; you can learn it online or check out our Bitcoin Cash Casinos article. More so, if you plan to do away with your BCH due to personal reservations or market factors, kindly do a rethink.
When Bitcoin was first launched, several skeptics never believed it was worth anything good — but look at the price of Bitcoin today. Sometimes, something great often starts small; but looking at how much BCH has accomplished in so little a time, we would not call its strides at all.
Therefore, BCH is a competitive alternative to BTC as the ultimate cryptocurrency of the online gambling industry. The market share is not as huge as BTC, LTC, or ETH’s but it sure looks promising.
The mining fee of Bitcoin Cash as you probably know already is very minimal, which makes you pay less for transactions that would have cost you more if you were using BTC. Also, it is incredibly fast, excessively safe and really easy to use BCH for online sports betting.