New York Sports Betting With Cryptocurrency

Considering deposit limits, withdrawal limits, and transfer times in general, the best way to fund your NY sports betting account is likely to be via Bitcoin or another cryptocurrency. New York sports betting with cryptocurrency is beneficial compared to other more common online sports betting banking means (and online banking in general), as it has same-day transfer rates, minimal processing fees, and among the highest deposit and payout limits offered. In terms of value and versatility, Bitcoin (and Ethereum and Litecoin, where accepted) is the easy choice for bettors of all income brackets and financial positions.

Of course, to use Bitcoin and other forms of crypto, you will have to make sure you set up all the requisite non-betting-site accounts required to allow you to trade these kinds of digital currencies. While New York has some of the highest rates of Bitcoin adoption in the western world, there are still millions of potential sports bettors and consumers in the state who have yet to explore the many exciting possibilities that cryptocurrencies have to offer.

If you’d like to get started in the world of Bitcoin, signing up for the necessary accounts typically takes a few days, and a bit of legwork re research is a good idea. That said, it’s not too difficult to wrap your head around the concept of Bitcoin in general, and its technological backbone – a revolution in data security called “blockchain” – will be central to most global industries going forward. Bitcoin (and its conceptual derivatives) are the wave of the future, and there’s never been a better time to get invested in the movement.

Betting Sites In New York That Take Bitcoin

Almost since Bitcoin’s inception in the late 2000s, it has featured prominently in the world of legal online sports betting, casino gaming, and poker sites. As such, it didn’t take long for betting sites in New York that take Bitcoin to make it the de facto industry standard.

Currently, all five of the biggest online NY sportsbooks accept Bitcoin. That means that you can sign up at SportsBetting, BetOnline, BetDSI, 5Dimes, and/or BookMaker and be wagering with Bitcoin within minutes. A few of these top Internet betting shops even accept altcoins like Ethereum and Litecoin, which are two of the most popular cryptocurrencies that “compete” with Bitcoin.

Betting Sites In New York That Take Ethereum

As perhaps the most popularly-traded altcoin currently on the market, Ethereum has a lot of backers and fans in the crypto space. As such, two of the five prominent New York sports betting sites – SportsBetting and BetOnline – have already started offering deposits and payouts via Ethereum, and reports are that the other books are considering adding the digital currency to their rosters in the near future.

Buy-in and withdrawal limits for Ethereum at SportsBetting and BetOnline are identical to those of Bitcoin, with the added benefit that Ethereum network transfers typically take about 10% of the time that Bitcoin network transfers do.

Betting Sites In New York That Take Litecoin

Litecoin is another wildly popular cryptocurrency, but only SportsBetting and BetOnline accept it for deposits and withdrawals. Of the three crypto options currently available through betting sites in New York, Litecoin boasts the fastest times of all, with typical transfer speeds of just a minute or two depending on overall network traffic.

Like Bitcoin and Ethereum, Litecoin has the exact same deposit and withdrawal limits at both SportsBetting and BetOnline. The other top NY sportsbooks are actively investigating adding Litecoin to their payment plans as well.

NY Betting Site Bitcoin Limits

SportsBetting Bitcoin Limits

• Deposit: $20 min, $25,000 max
• Withdrawal: $20 min, $10,000 max

BetOnline Bitcoin Limits

• Deposit: $20 min, $25,000 max
• Withdrawal: $20 min, $10,000 max

BetDSI Bitcoin Limits

• Deposit: $25 min, $50,000 max
• Withdrawal: $100 min, $5000 max

5Dimes Bitcoin Limits

• Deposit: $25 min, $10,000 max
• Withdrawal: $50 min, $10,000 max

BookMaker Bitcoin Limits

• Deposit: $10 min, $50,000 max
• Withdrawal: $50 min, $25,000 max

NY Betting Sites Ethereum Limits

SportsBetting Ethereum Limits

• Deposit: $20 min, $25,000 max
• Withdrawal: $20 min, $10,000 max

BetOnline Ethereum Limits

• Deposit: $20 min, $25,000 max
• Withdrawal: $20 min, $10,000 max

NY Betting Sites Litecoin Limits

SportsBetting Litecoin Limits

• Deposit: $20 min, $25,000 max
• Withdrawal: $20 min, $10,000 max

BetOnline Litecoin Limits

• Deposit: $20 min, $25,000 max
• Withdrawal: $20 min, $10,000 max

New York Bitcoin Deposit Bonuses

New York Betting Sites Bitcoin FAQs

Is Bitcoin Legal To Use For New York Sports Betting?

Absolutely. In fact, Bitcoin is legal to use for all kinds of things, provided the vendor of the goods or services you’re buying accepts it. One of the biggest draws for Bitcoin adoption is that it is 100% legal and 100% decentralized, which means that it is not effectively regulated by any government. The same is true for most other cryptocurrencies.

Is Bitcoin Safe To Use?

Yes, Bitcoin is safe to use. As an investment mechanism, there are certain risks involved (akin to those inherent in the stock market), but Bitcoin uses revolutionary, quantum-computing-resistant blockchain technology, which makes it the safest online payment method there is when it comes to issues like identity theft and account hacking.

How Do I Get A Bitcoin Account?

There are several ways to get started in the crypto market. In order to get a Bitcoin account, most NY residents choose to sign up at Coinbase. Once you confirm your identity and make your first deposits, your credit, debit, and wire transfer limits will increase dramatically. Credit/debit deposits are instantaneous but carry higher fees and lower limits than bank transfers, but bank transfers typically take 10 days to clear. Be sure to factor these timeframes into your New York sports betting schedule.

How Long Does A Bitcoin Transfer Take?

One of the main drawbacks of Bitcoin compared to its “rival” cryptocurrencies is that it takes a relatively long time for funds to transfer. If there is average traffic on the blockchain, a Bitcoin transfer only takes a half hour or so at most. However, if there is excessive trading, a Bitcoin transfer can take several hours or even an entire day before showing up in your account.

What Is An Altcoin?

An altcoin is any cryptocurrency other than Bitcoin. Two betting sites in New York – SportsBetting and BetOnline – accept Ethereum and Litecoin, which are considered altcoins. There are currently around 1500 altcoins on the global crypto market at any given time, but it remains to be seen if any NY sportsbook will expand its current offerings to include any of these.

Are Altcoins Better Than Bitcoin For NY Sports Betting?

All cryptocurrencies are different, so while some altcoins might be better than Bitcoin for NY sports betting, it really depends on your individual needs and uses for those coins. Generally speaking, Bitcoin is the go-to standard, as it is the most common cryptocurrency. However, Ethereum and Litecoin have faster transfer times. Otherwise, all betting sites in New York that accept altcoins offer the same limits and bonuses that they do for Bitcoin.

Do Any Betting Sites In New York Accept Ripple?

Ripple is an extremely popular cryptocurrency, and many think it will be the next major altcoin to be accepted by betting sites in New York and around the world. However, there has been no recent news to this effect.

Do Any Betting Sites In New York Accept Cardano?

Many analysts believe that Cardano (a.k.a. ADA) is the “next big thing” in cryptocurrency, as it solves most of the technical and scientific hang-ups that bigger coins like Bitcoin and Ethereum experience. However, while there is merit to such hype for ADA, Cardano is currently not accepted at any betting site in NY.

Do Any Betting Sites In New York Accept Stellar Lumens?

Stellar (a.k.a. Lumen) is a popular and heavily-traded cryptocurrency, but while it’s been a solid investment platform so far, there is no indication that any prominent New York betting site is going to add Stellar Lumens to its platform in the near future.

Who Invented Bitcoin?

Satoshi Nakamoto is credited as having invented Bitcoin. Of course, this isn’t a real person, and the identity of the technology’s designer or design team is currently unknown. However, of the few plausible theories available, the most compelling is that Internet gambling and sports betting pioneer Calvin Eyre is the inventor of Bitcoin, having bankrolled its development as an answer primarily to the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA), which sought to ban US banks from handling money used for sports betting and gambling purposes.

Eyre is also the founder of Bovada, the industry’s top trend-setting sportsbook (which was the first such book to accept Bitcoin). Unfortunately, Bovada is not currently available among the active betting sites in New York.