Bitcoin in Esports Betting – A Viable Payment Method?

Updated: 2025

Our fast-paced civilization is constantly producing amazing things, all thanks to massive technological advancements. Just think about it - a decade ago, eSports betting was nothing and nobody. Now it's one of the largest and fastest growing industries in the world! Credit cards also made a real boom in the economic and commercial markets, along with smartphones and, of course, the Internet.

Today, there is a possibility that we are witnessing another big step in our evolution. Just as credit cards and online/mobile banking changed our lives a while back, a new payment method is emerging that looks like it could do just that!

As the title of this article suggests, our topic for today is going to be Bitcoin. Well, technically not just general bitcoin information, but the viability of bitcoin as a payment method for eSports betting. So, with that said, why don't we start by explaining what Bitcoin is, since there's probably a whole bunch of you who don't know much about it.

What is Bitcoin?

There is a lot of confusion surrounding not only bitcoin, but the entire world of cryptocurrencies. However, if we were to talk about cryptocurrencies in general, it would take up too much of the valuable space we have here. So instead, we will focus on the biggest player: Bitcoin. After that, we'll say a few quick words about its sudden popularity in the digital world.

First of all, bitcoin is the largest and most valuable cryptocurrency. For those of you who don't know what a cryptocurrency is, it's basically a digital concept that allows payments to be sent between users without using the banking system. It is a virtual, digital currency that is not printed to represent a physical value. Instead, it stays on our devices and can be used to pay for various goods online.

The greatest virtue of bitcoin (and most other cryptocurrencies out there) is the fact that it's decentralized. In layman's terms, this means that no single institution in the world has direct control over the flow of the currency. Instead, bitcoin and other cryptocurrencies work through what is known as "blockchain technology". This is basically a widespread network of computing power that manages, validates, and controls all cryptocurrency transactions.

Why is Bitcoin so Popular?

There's no denying the sheer popularity of cryptocurrencies, including bitcoin. In late 2017 and early 2018, the cryptocurrency market was booming, with Bitcoin teasing the $20,000 mark. Back then, everyone was buying and selling all kinds of cryptocurrencies, so such huge numbers aren't really surprising.

Today, the value of bitcoin, as well as the total market capitalization of all cryptocurrencies, has fallen to reasonable numbers. Even though the popularity of cryptocurrencies is experiencing a downward trend, bitcoin still looks strong. But why is that? Why is bitcoin so popular? Why is it the most popular cryptocurrency right now?

There are several reasons for bitcoin's popularity. You can check out the most important ones below!

The Popularity of Bitcoin in Esports Betting

Stability

Even though real currencies (such as euros, dollars, pounds, etc.) may seem more stable than bitcoin due to their constant fluctuations, bitcoin is still a much more stable currency than most of them. Why is that? Well, for starters, other fiat currencies often experience hyperinflation, and relatively speaking, that's not an issue for cryptocurrencies, or bitcoin, for that matter.

Bitcoin is a cryptocurrency that allows users to send and receive funds to virtually anyone in the world. The only requirement is a bitcoin wallet, and there are many online services that provide just that. Best of all, bitcoin transactions don't require names, addresses, or other personal information. Anonymity is a big part of all cryptocurrencies, so it's no wonder bitcoin has it too.

Anonymity

Because cryptocurrencies don't rely on banks as intermediaries, and because they operate through blockchain technology, security is on a whole other level. Now, we're not saying that bank security is flawed, we're just saying that bitcoin heists are much harder to pull off. It takes much more than a couple of knuckleheads with guns to penetrate the encryption and vast other security measures put in place by expert blockchain programmers.

Security

Bitcoin (and cryptocurrencies in general) seem really complicated and complex. However, for a casual end user who just wants to send and receive money via blockchain technology, the process is as simple as it gets. Bitcoin in esports betting doesn't stray too far from that, at least as far as simplicity is concerned. All you have to do if you want to send and receive bitcoin is set up your own bitcoin wallet. And that's about it!

Simplicity

Believe it or not, there are several notable alternatives to betting on sports with bitcoin. However, they are not ideal solutions and should only be explored if bitcoin is not really an option on your end. The most notable example of a good bitcoin alternative would be Gimli. It's an interesting new concept that tries to bring eSports betting and cryptocurrencies closer together.

Are There Any Alternatives to Bitcoin in Esports Betting?

In addition to Gimli, Unikrn is another great example of how cryptocurrencies and the esports industry can work together. For those of you who don't know, Unikrn is a top esports betting company based in Las Vegas, Nevada. They are the most popular because they have their own cryptocurrency called Unikoin Gold. There are ways for their users to earn UKG by playing esports titles, exchanging in-game skins, and most importantly, betting.

Esports Betting Sites That Accept Bitcoin

With that in mind, we would like to give you the basics of the most popular sites that accept bitcoin for sports betting.

The most popular esports bookmaker that accepts bitcoin is Nitrogen. We are talking about a giant in the esports betting industry that manages to be at the top of the food chain through innovation, young industry experts and great UX. Nitrogen specializes in bitcoin betting and offers a wide variety of sports and esports to all its customers. Its on-site user experience is next to nothing, with betting odds (and multiple markets available to bet on) extremely high.

Nitrogen

With all that said, there is no doubt that Nitrogen is the best option for anyone looking to bet on esports with bitcoin. With a highly polished website, great betting odds, and responsive customer support, we are talking about the highest quality bitcoin esports bookie currently available!

This is another great example of what innovative eSports betting sites need to look like. Compared to Nitrogen, OneHash has several key differences that, at least in our opinion, make it the second best bitcoin bookmaker out there. First of all, OneHash is a mutual betting site, which means that its betting odds can change drastically at any given time. This basically means that OneHash's betting odds aren't fixed and change with other bettors' bets. That's what mutual betting is all about.

One last thing to note, OneHash doesn't require you to create an account. All you need is your bitcoin wallet and you're good to go. This is not necessarily a bad thing, but some people like to have their account and information set up properly just like any other online bookmaker they use.

OneHash

If the esports betting industry continues its exponential growth, we see no reason why bitcoin can't become the next big thing in the industry. After all, the majority of esports bettors are millennials, and let's face it, most millennials already know a thing or two about cryptocurrencies. It's a winning combination, don't you think?

If not bitcoin, then maybe one of these esports-related cryptocurrencies like Unikrn. There are many possibilities when it comes to bitcoin and other cryptocurrencies. And considering the fact that esports betting is an all-digital industry, blockchain technology isn't far off.

What are your thoughts on the subject? Do you think bitcoin has a future in eSports betting? If so, do you think you will switch from your current betting method to bitcoin? Maybe try some bitcoin esports betting sites? Thank you for participating in our comprehensive guide to bitcoin and esports betting!

Esports Betting with Bitcoin Summary

If the esports betting industry continues with its exponential growth, we don’t see any reason why Bitcoin can’t become the next big thing in it. After all, the majority of esports bettors are millennials, and let’s face it, most millennials already know a thing or two about cryptocurrencies. It’s a winning combination, don’t you agree?

If not Bitcoin, then perhaps one of these esports-related cryptocurrencies such as Unikrn. There are lots of possibilities as far as Bitcoin and other cryptocurrencies are concerned. And considering the fact that esports betting is a strictly digital industry, blockchain technology isn’t far off from it.

What are your thoughts on this topic? Do you think Bitcoin has a future in esports betting? If yes, do you think you will be making the switch from your current betting method to Bitcoin? Maybe try out some Bitcoin esports betting sites? Thanks for joining us in our comprehensive guide to Bitcoin and esports betting!