Bitcoin betting how to bet using Bitcoin in New Zealand
Bitcoin has been a hot topic the past few years because of its astronomical gains among many other reasons. But, the best part is its wide adoption in e-commerce including online gambling.
In New Zealand’s online Betting space, it isn’t different; as there have emerged many online betting sites that accept Bitcoin. In this guide, our team of experts will tell you how to go about betting using Bitcoin in New Zealand and recommend to you the best Bitcoin sites for New Zealand players.
Depositing Bitcoin to an online betting site is as easy as ABC. However, you need to be careful as Bitcoin (cryptocurrency) transactions aren’t reversible and a slight error in capturing information may mean a loss of your money.
But that should scare you as with QR codes now available on many sites and the ability to transact over the phone, you will hardly go wrong. So here are steps you need to take to make your first deposit to a site accepting Bitcoin in New Zealand.
Step 1 – Set up your Bitcoin wallet. You need to download and install a BTC wallet on your phone or computer.
Step 2 – Buy Bitcoin from an exchange and transfer it to your wallet. If you already have a Bitcoin address with an exchange you need to buy Bitcoin and the Bitcoin address will automatically be loaded.
Step 3 – Head over to the cashier section on any of the sites accepting Bitcoin found on our list and select Bitcoin as the payment option.
Step 4 – the sportsbook will provide you with a deposit address (a string of characters) or a QR code. Copy the deposit address and head over to the Bitcoin wallet.
Step 5 – make Bitcoin payment to the deposit address provided by the sportsbook. The process should take an average of 15 minutes to complete.
Withdrawing Bitcoin from an online betting site should be pretty easy now that you successfully made the first deposit. Here are the steps to follow:
Step 1 – Head over to the cashier section of the sportsbook and select withdraw. Select Bitcoin as the payment method of choice.
Step 2 – open your wallet and copy your address and paste it on your sportsbook. Thereafter, choose the amount you wish to withdraw and the Bitcoin should arrive in your wallet approximately 15 minutes after the sportsbook processes the payment.
Bitcoin betting games – What games can I bet on?
Just like the regular sportsbooks, Bitcoin exchanges and sportsbooks for New Zealand players offer a wide range of games that players can choose. These games include:
Cricket
Football
Horse racing
tennis
Rugby
NHL
Snooker
Greyhounds
From this list, it is evident that bitcoin betting sportsbooks cater to the New Zealand market. Kiwis’ favorite games are all included, and it is even better since most of these sportsbooks have a betting bitcoin welcome bonus when you open an account.
Events such as bitcoin cricket betting will include markets such as Australian Sheffield Shield, T20, pukka five-day Test international cricket, and Indian Premier League. Bitcoin betting horse races will include events such as The Everest, Cheltenham Gold Cup, Melbourne Cup, and Pegasus World Cup.
How do we choose the best Bitcoin betting sites?
We all know that online betting sites are not of the same quality. Some operators are honest while others are there to reap you off.
While not all of us might have an eye to spot the dishonest ones, our team of experts carries out independent examination on each of the sportsbooks to establish the legit Bitcoin betting sites. Here is our criterion for identifying the best Bitcoin betting sites in New Zealand.
Legitimacy
The last thing you want to do is deal with an illegitimate site, regardless of the bonus offer. The juice isn’t worth the squeeze. The top-most priority is that the Bitcoin betting sites listed here are compliant with the law and are regulated by revered regulatory bodies.
Bonus
Bonuses are a norm nowadays. Whereas they are used as an incentive for players to sign up with a site, some operators have abused them. Luckily, you don’t have to do the hard work of analyzing which sites have honest Bitcoin betting bonuses because we did that on your behalf.
The operators in this list have the best betting bitcoin welcome bonus. Sports betting bitcoin bonuses are an attraction among Kiwi players since some operators offer bonuses as high as 300% on your first deposit or Bitcoin risk-free bets.
Security
Security is a top consideration among many players, and it isn’t any different when dealing with Bitcoin accepted betting sites in New Zealand. In this article, you’ll find sites that have top-notch security measures including SSL encryption, firewalls, and secure log-in.
Mobile application
Playing on the go is a trend these days and sportsbooks without a mobile application are less lucrative compared to those with a mobile app. Bitcoin mobile sites are also synonymous with the growth of the industry as nowadays bitcoin betting mobile apps are common with many sportsbooks. With a mobile bitcoin betting app, there is less room for errors since you can use the QR code for scanning addresses.
Customer support
Let’s be honest – the level of customer support is a deal-breaker for a lot of players. You don’t want to stumble upon a problem while depositing to a New Zealand bitcoin sportsbook and can’t get help. Also, with bitcoin, you may need to clarify a few times before making a deposit, so round-the-clock customer support is ideal.
The best part is that the bitcoin betting sites for New Zealand players listed above have good customer support. Some of the available means you can reach out for help include live chat, email, and phone support. And you don’t have to worry that your support request will go unanswered since most have an almost instant response time.
Pros and cons of betting with Bitcoin
Here are the pros of betting with Bitcoin
Anonymity – Everyone wants to keep their information safe including their online transactions. With bitcoin, although transactions are broadcasted on the blockchain, there isn’t an identity tag of who made the payment and who received it. Therefore, the sender and receiver identities are anonymous.
Low fees – Bitcoin has a low fee compared to many fiat-based systems. Also, the fee charged isn’t levied by a middle man; instead, the fee acts as a reward to miners.
Bonuses – With the emergence of new products in the market, there are advertising efforts. One such promotion has been the bitcoin bonus for New Zealand players. Online sportsbooks have been offering a welcome bonus as high as 300% among other several bonus offers.
Fast transactions – bitcoin transactions are fast compared to fiat payments such as bank transfers and cheques. Bitcoin transactions on average take 15 minutes to complete whereas bank transfers may take up to 5 days.
Cons
Here are the drawbacks of using Bitcoin for online betting.
Volatile – bitcoin price is volatile and should hold it for long the value of your bitcoin may fluctuate both ways meaning your bitcoin may even lose money holding bitcoin.
Irreversible transactions – the fact that you can’t reverse bitcoin transactions is scary. An error such as typing one character of an address wrong means will result in bitcoin being sent to the wrong address which is still irreversible.
The legality of betting using bitcoin in New Zealand
Bitcoin betting in New Zealand is legal provided you wager at offshore betting sites. This is in compliance with New Zealand Gambling Act 2003. The act prohibits local companies from establishing sportsbooks within the country but doesn’t restrict Kiwis from betting using offshore bookmakers.
Summary
Bitcoin online betting is rapidly being adopted in New Zealand and it’s only a matter of time before the juggernaut becomes real among players. As a Kiwi player, you need to know the best sites for bitcoin betting, which we have provided a list for the same.
Get started at any of the sites we have listed and enjoy a bitcoin welcome bonus.
Frequently Asked Questions
Is it legal to bet using bitcoin in New Zealand?
Yes, you need to wager at offshore betting sites.
Is it safe to bet using bitcoins?
Absolutely! Bitcoin and cryptocurrencies are secure to wager with.
Will I get a bonus if I deposit with bitcoin?
Yes, most sportsbooks have a bitcoin deposit bonus for New Zealand players.
Are bitcoin betting sites better than regular bookies?
Yes, with bitcoin there is a fast payout, low fees, and a bitcoin welcome bonus. Better yet, the withdrawal limits are high and your funds have little to no chance of confiscation by anyone.
