How to Use Bitcoin for Sports Betting Video Tutorial

**PaperTrail07** · 03-30-17, 01:20 PM

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Originally posted by PaperTrail07

Ok So I am setup with Coinbase..... Wil they charge my plastic as a Cash Advance when I buy??....there is already an 11$ fee on 280$....

**billyloco** · 04-11-17, 02:01 PM

Holy Guacamole!!! I has found the MotherLode!!

**Jackson04801** · 04-12-17, 08:03 AM

Thank you for a great post. Were useful. It made me start using bitcoin

**Nicolas25** · 04-12-17, 10:28 AM

Very useful. Thanks a lot

**Nicolas25** · 04-12-17, 10:29 AM

Very useful. Thanks a lot

**MarBen** · 04-17-17, 08:46 AM

Can anyone tell me the best way to put bitcoin on my Pinnacle and SBOBET account (they both doesn't support BTC deposits). Unfortunately I must deposit big amounts (5 digit in EUR value), and Skrill (that I usually use for bookmaker deposits) has a very low limit on BTC deposits.

In short, If I have for example 30 bitcoins, and want to put them all in my Pinnacle or SBOBET account (as euros), what is the best way to do it? I've read there are some agent sites as AsianConnect88 and Premiumtradings that accept BTC deposits and then convert them in cash, but I'm afraid to give such big amounts in other people hands. Also there are Bitcoin cards, but I don't know how trustworthy those are (and they also have deposit limits, that maybe are not good enough for me).

Any suggestion?

**Optional** · 04-17-17, 09:50 AM

Originally posted by MarBen

Can anyone tell me the best way to put bitcoin on my Pinnacle and SBOBET account (they both doesn't support BTC deposits). Unfortunately I must deposit big amounts (5 digit in EUR value), and Skrill (that I usually use for bookmaker deposits) has a very low limit on BTC deposits.

In short, If I have for example 30 bitcoins, and want to put them all in my Pinnacle or SBOBET account (as euros), what is the best way to do it? I've read there are some agent sites as AsianConnect88 and Premiumtradings that accept BTC deposits and then convert them in cash, but I'm afraid to give such big amounts in other people hands. Also there are Bitcoin cards, but I don't know how trustworthy those are (and they also have deposit limits, that maybe are not good enough for me).

Any suggestion?

I think the only way to do that much without using an agent will be to do your conversion to fiat on an exchange yourself and then deposit.

The Bitpay card does seem trustworthy btw.

**MarBen** · 04-17-17, 11:07 AM

Originally posted by Optional

I think the only way to do that much without using an agent will be to do your conversion to fiat on an exchange yourself and then deposit.

Probably I would lose a lot because of exchange rates. :/

Do you recommend using agents? Are those risky? Too much money involved, so I'm scared just to think about that.

**Optional** · 04-17-17, 04:03 PM

Originally posted by MarBen

Probably I would lose a lot because of exchange rates. :/

Do you recommend using agents? Are those risky? Too much money involved, so I'm scared just to think about that.

Personally I don't use any agent but if I felt I had no better option I would use one of the well known ones. 30k+ deposits at a time I dont deal with though so understand your reticence.

If you use a trading exchange to sell your bitcoin there is usually only a fraction of a percent in trade fees. Much better than exchanging US$ for Euros for example.

**MarBen** · 04-17-17, 04:04 PM

Originally posted by Optional

Personally I don't use any agent but if I felt I had no better option I would use one of the well known ones. 30k+ deposits at a time I dont deal with though so understand your reticence.

If you use a trading exchange to sell your bitcoin there is usually only a fraction of a percent in trade fees. Much better than exchanging US$ for Euros for example.

Can you suggest me some good exchange?

**Optional** · 04-17-17, 04:12 PM

Originally posted by MarBen

Can you suggest me some good exchange?

You will want to choose one that allows direct payment in your local currency to avoid foreign exchange fees. What country are you in?

**MarBen** · 04-17-17, 04:20 PM

Originally posted by Optional

You will want to choose one that allows direct payment in your local currency to avoid foreign exchange fees. What country are you in?

Croatia. But I use euros in bookmakers, even if is not my country currency.

Where do exchanges send payments? Can they send it to my Skrill account (in euros) for example? Then I will use Skrill for deposits into Pinny or SBOBET.

**Optional** · 04-17-17, 04:26 PM

Originally posted by MarBen

Croatia. But I use euros in bookmakers, even if is not my country currency.

Where do exchanges send payments? Can they send it to my Skrill account (in euros) for example? Then I will use Skrill for deposits into Pinny or SBOBET.

Unless you have a Euro bank account then you are probably going to lose around 4% on the way out and then back again to euros for the deposit to books.

If you want to go direct to Skrill then you might have to look at a person to person exchange like localbitcoins.com

**MarBen** · 04-18-17, 06:53 AM

Originally posted by Optional

Unless you have a Euro bank account then you are probably going to lose around 4% on the way out and then back again to euros for the deposit to books.

I have a bank account in euros. But you wanna say that the money would go on my bank account? I want it directly on my Skrill account, not on my bank account (I have to many upload limitations there, that's why I use Skrill for bookmakers deposits/payouts). That is not possible?

I would like: BTC account => Exchange => Skrill => Pinny/SBO

So without bank account involved.

**Optional** · 04-18-17, 09:40 AM

localbitcoins.com
paxful.com
wallofcoins.com

is where I would look for options to suit you.

You can also load limited amounts of bitcoin into a Neteller account and then transfer to Skrill.

**sportsfanatic19** · 04-24-17, 09:31 AM

Thanks on the video on how to use BTC...got some answers

**tungsonmtp** · 04-26-17, 05:21 AM

It's really very useful information.

**nbpayton** · 04-30-17, 05:32 AM

Still slow to the bitcoin party. I've been told to get a bitcoin trezor or Ledger HQ by some poker players. Can someone explain if this take the place of coinbase? Would I transfer from blockchain to Trezor/Ledger then my bank and is this good idea?

**Optional** · 04-30-17, 05:43 AM

Originally posted by nbpayton

Still slow to the bitcoin party. I've been told to get a bitcoin trezor or Ledger HQ by some poker players. Can someone explain if this take the place of coinbase? Would I transfer from blockchain to Trezor/Ledger then my bank and is this good idea?

A Trezor is a hardware wallet.

It does not take the place of Coinbase as that is a place we swap cash for bitcoin and back again. There is an online wallet there too but in the normal chain your Trezor would replace the free blockchain.info/wallet, not your exchanger (Coinbase)

If you are just wanting to use bitcoin to transfer funds in and out of your bank account to books, I'm not sure I'd bother with a Trezor. Thats mainly if you want to keep large amounts stored in a bitcoin wallet over time.

**nbpayton** · 04-30-17, 11:31 AM

Originally posted by Optional

A Trezor is a hardware wallet.

It does not take the place of Coinbase as that is a place we swap cash for bitcoin and back again. There is an online wallet there too but in the normal chain your Trezor would replace the free blockchain.info/wallet, not your exchanger (Coinbase)

If you are just wanting to use bitcoin to transfer funds in and out of your bank account to books, I'm not sure I'd bother with a Trezor. Thats mainly if you want to keep large amounts stored in a bitcoin wallet over time.

Thanks for the info. I do just mainly want to move in and out. Coinbase wouldn't accept passport as ID so any other companies like coinbase that I could use in place of them.

**SBR Forum** · 04-30-17, 11:35 AM

Originally posted by nbpayton

Thanks for the info. I do just mainly want to move in and out. Coinbase wouldn't accept passport as ID so any other companies like coinbase that I could use in place of them.

Kraken & Gemini are two other popular US based exchanges.

If you have no luck with either, you may want to try an international exchange like BitStamp who should be happy to verify your account with your passport.

**jake2014** · 05-17-17, 03:32 PM

Ok so I finally did the bitcoin thing. First I did coinbase withdraw directly to my bank. I hope that doesn't screw anything up. Second one I did blockchain to coinbase to bank. My question is about banks taking the deposits. Won't banks question deposits if they don't know where they come from?

**Optional** · 05-17-17, 03:43 PM

Originally posted by jake2014

Ok so I finally did the bitcoin thing. First I did coinbase withdraw directly to my bank. I hope that doesn't screw anything up. Second one I did blockchain to coinbase to bank. My question is about banks taking the deposits. Won't banks question deposits if they don't know where they come from?

The banks do know where deposits come from. A legal licensed financial business called Coinbase.

**cyclingbettor** · 05-30-17, 04:56 PM

Will Bitstamp block your account if you do transactions with sportsbooks?

**losemyloot** · 05-30-17, 08:00 PM

So I buy a few hundred dollars of btc at coinbase and now I find out I need to report any gains to the IRS!!! Sometimes being in the US sucks.

**Optional** · 05-31-17, 04:00 AM

Originally posted by cyclingbettor

Will Bitstamp block your account if you do transactions with sportsbooks?

Not that I have heard.

**MaddyMax** · 06-13-17, 04:55 PM

If i want to receive payment from another person, can i do it only with coinbase or do i need block chain too. Why do we need blockchain...why not just use coin base to send it to the book then get it out of the book?

**Optional** · 06-13-17, 07:25 PM

Originally posted by MaddyMax

If i want to receive payment from another person, can i do it only with coinbase or do i need block chain too. Why do we need blockchain...why not just use coin base to send it to the book then get it out of the book?

1) It's fine to receive a payment from another private individual to your coinbase wallet.

2) You use a blockchain wallet between Coinbase and bookmakers as if you read the Coinbase terms they ban transacting directly with books.

**mikel45** · 06-14-17, 08:37 AM

I do not understand.
I think that there must be some bookies that offer you the possibility to put money by bitcoin, do not?
The most clarifyngs thing, shuold be that some of you put a list of bookis that offer this possibility.

I mean, that can be (it is posible) a bookie allow you traditional methods and bitcoin.

Thank you

**Optional** · 06-14-17, 09:45 AM

Originally posted by mikel45

I do not understand.
I think that there must be some bookies that offer you the possibility to put money by bitcoin, do not?
The most clarifyngs thing, shuold be that some of you put a list of bookis that offer this possibility.

I mean, that can be (it is posible) a bookie allow you traditional methods and bitcoin.

Thank you

Here is a list of SBR rated bookmakers who accept Bitcoin

**mikel45** · 06-14-17, 11:19 AM

Originally posted by Optional

Here is a list of SBR rated bookmakers who accept Bitcoin

Oh my God. I touhgh that only exist one or two bookie that accept them.
In a forum from Spain someone opened a post where a company/firm was going to creat a P2P BOOKIE and it was doing crowdfunding

https://foroapuestas.forobet.com/la-charla-de-apuestas/59285-bookie-exchange-una-nueva-revolucion.html

http://bookie.exchange/ this is the link to this web

This bookie does exist in UK nowadays?

thank you

**Optional** · 06-14-17, 11:49 AM

Originally posted by mikel45

Oh my God. I touhgh that only exist one or two bookie that accept them.
In a forum from Spain someone opened a post where a company/firm was going to creat a P2P BOOKIE and it was doing crowdfunding

https://foroapuestas.forobet.com/la-charla-de-apuestas/59285-bookie-exchange-una-nueva-revolucion.html

http://bookie.exchange/ this is the link to this web

This bookie does exist in UK nowadays?

thank you

No they dont exist yet. Hopefully soon one will be built for us all.

There are several very similar projects doing this crowd funding thing to build a P2P blockchain exchange. See this thread for a discussion about them https://www.sportsbookreview.com/for...-platform.html

**jjgold** · 06-14-17, 02:21 PM

I finally made the switch to bitcoin and glad I did it so

**soccergoat** · 06-16-17, 12:16 PM

i've been using bitcoin for a while for deposits, at first i really didn't understand bitcoin but after time i really picked up alot like a big thing on getting a confirmation quickly is byte size and fee per byte, most transactions are around the 225 byte range and those almost always get confirmed pretty quickly the problem becomes when ur fee size is small and u start getting the 383 bytes and over 700's those can take a while most places have raised their send fees which has helped but the biggest piece of advice i can give anybody on making bitcoin deposits send late at night, i have noticed if u send after 11pm eastern time to about 7 am the bitcoin deposits will go thru lightning fast usually under 3 mins, if u send in late morning afternoon or evening there is always a chance u will have to wait hours or sometimes days if u get an unlucky high byte size

**MeanPeopleSuck** · 08-12-17, 02:22 AM

I'd never watched this video before tonight. The idea's solid, but it badly needs updating:

1. It recommends Coinbase, the only exchange on earth currently being sued by the IRS for its clients' purchase, sales and trading records. Literally, ANYWHERE else on earth is a safer place for a sports bettor to buy his BTC.

I recommend a remake with Bitstamp, incorporated safely outside IRS jurisdiction in Luxembourg, replacing Coinbase.

2. Its "intermediary wallet" recommendation is Blockchain.info. Blockchain's great, but they're changing their business model from Wallet to Exchange, so the same scrutiny other exchanges apply to sports bettors is probably coming soon to Blockchain.

A better option for the "intermediate wallet" might be a private wallet: Electrum and Airbitz are both free and easy to use.