Using Bitcoin and Online Sportsbooks

With states legalizing sports betting left and right the need for offshore sportsbooks like Bovada.lv is being significantly reduced. The ease of FanDuel and DraftKings sportsbooks with deposits, withdrawals, and the user interface is so easy to use it's a matter of time before they become nationwide juggernauts, and the need for these offshore sportsbooks becomes obsolete.

BUT

If you live in a state that hasn't gotten on the sports betting game then you have to rely on the offshore books. Depositing with these offshore books has been difficult for years. Either they don't like your bank, your bank certainly doesn't like them and you're forced to try and figure out this thing called BitCoin.

After years of playing in this offshore sportsbook pool and messing around with bitcoin I've got a streamlined process that gets the job done.

  • If you don't already have it....Download the CashApp
  • Buy some bitcoin on the CashApp
  • Navigate to your favorite sportsbook. I use Bovada because of their quick payouts
  • On Bovada, deposit using Bitcoin (you dont have to input an amount it will deposit whatever you send in) and make sure to select a deposit bonus. (Books LOVE giving deposit bonus' when you use Bitcoin)
  • Copy the Bitcoin address in the Bovada deposit window and head back to CashApp
  • In CashApp go to your Account Page (Bank looking Icon in the lower left-hand corner of the App)
  • Click on Bitcoin, Then on the following page click Withdraw Bitcoin
  • Input the Bitcoin address you copied from Bovada and finish the withdrawal and BOOM, You've just deposited on your offshore sportsbook without pissing off your bank and catching a sweet (usually 50% or more) Bitcoin deposit bonus

 

 

Now after you win your bets and want to cash out the process is just as easy.

  • Open your CashApp and go to the Home Page (bank icon in the lower left hand corner)
  • Click Bitcoin and instead of withdrawal this time click deposit
  • On your sportsbook request a withdrawal via Bitcoin, enter the amount to withdraw and enter the bitcoin address you just copied from the CashApp
  • That's it you just got money off your sportsbook and into your CashApp without pissing off your bank or having an awkward conversation about where the money "from your overseas friend" came from
  • Withdrawal times can vary depending on the time you request them and the sportsbook you are using, just remember...It will be quicker than the 4-6 weeks it used to take to get a check. Most will get it done anywhere from a few hours to a few days. If it takes longer than a week find a new sportsbook

Something to note. It can take upto 15 minutes for deposits to show up from your CashApp to your sportsbook. Your first instinct is to panic...don't. As long as you entered the addresses correctly, (copy paste is undefeated) you have nothing to worry about.

Also, do yourself a favor and get the CashApp card. There is nothing more baller than being able to spend your sportsbook winnings on a debit card or ATM.

Best of luck

-Commish

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