How to bet on sports with crypto

Betting with crypto works a lot like betting with a regular sportsbook — the difference is how you fund and withdraw your account. Here's the full process from zero to your first bet.

1. Get a wallet

In depth: how to set up a crypto wallet.

You'll need somewhere to hold crypto before sending it to a sportsbook. Options range from a self-custody wallet (you hold the keys) to an exchange account (the exchange holds the keys but it's simpler for beginners). Whichever you choose, make sure you understand how to send funds to an external address.

2. Choose a sportsbook

Check our ranked comparison and confirm the platform is reputable — ideally audited or non-custodial — and available in your jurisdiction before signing up anywhere.

3. Deposit

In depth: how to get crypto and which coin to use.

Most crypto sportsbooks generate a unique deposit address per user. Send funds from your wallet to that address, then wait for the required number of network confirmations — this can be seconds for some coins, longer for others.

4. Understand the odds format

Crypto sportsbooks typically offer a choice of odds formats:

• Decimal (e.g. 2.50) — common outside North America, shows total payout including stake.
• American (e.g. +150 / -200) — shows profit on a $100 stake (or loss needed to win $100).
• Fractional (e.g. 3/2) — common in the UK/Ireland, shows profit relative to stake.

5. Manage your bankroll

Decide on a betting budget before you start and stick to a fixed unit size per bet (many bettors use 1-2% of their bankroll). Crypto's price volatility adds an extra variable — consider whether you want to bet with a stablecoin to avoid your bankroll swinging independently of your bets.

6. Withdraw your winnings

Request a withdrawal to your own wallet address. Crypto-first sportsbooks tend to process these much faster than traditional bank withdrawals, but always double-check the destination address before confirming — crypto transactions can't be reversed.