As cryptocurrencies grow in acceptance, the potential for sports betting sitess to incorporate these as valid payment methods is becoming increasingly palpable. In 2023, with the passage of HB 551 the state of Kentucky is emerging as a trailblazer in crypto acceptance, possibly supporting Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and DASH for deposits. This guide aims to expand your understanding of crypto betting, detailing how you can engage with it seamlessly.
What Sites That Could Accept Crypto Deposits In Kentucky?
Although the Kentucky Horse Racing Commission hasn’t issued licenses yet, we’re confident that several industry giants will receive one, allowing them to extend their U.S. market presence.
DraftKings Sportsbook
Already a national favorite thanks to its status as a major DFS operator, DraftKings Kentucky is expected to leverage its popular platform with an online sportsbook. Other states have enjoyed a generous Bet $5 Get $150 odds boost bonus upon signing up with DraftKings promo code ATSBONUS. Will Kentucky be the next state to benefit from this offer? We think so.
BetMGM Sportsbook
BetMGM Kentucky, a product of MGM International Resorts, is primed to bring its extensive sportsbook experience from other states to Kentucky. We foresee that BetMGM will extend its customary new user bonus of a $1,000 first bet offer to its Kentucky clientele.
Caesars Sportsbook
Caesars Sportsbook Kentucky, synonymous with the globally recognized Caesars Entertainment venues, is a significant player in the gambling industry. Its unique Caesars Rewards program delivers bonus bets, unique experiences, accommodations, and more to loyal customers. We predict that new users will enjoy the standard $1,250 first bet following their initial deposit.
FanDuel Sportsbook
FanDuel Kentucky, another well-established operator in the daily fantasy sports world, is expected to carry its sportsbook success into the Bluegrass State. Known for its total handle leadership with each new state it operates in, FanDuel typically offers a $1,000 no-sweat-bet for new users.
BetRivers Sportsbook
Despite not having the modern appeal of DraftKings or FanDuel’s mobile apps, BetRivers Kentucky provides a user-friendly design that caters to both new and experienced users. BetRivers has performed well in Ohio since its early 2023 launch, and it aims to mirror this success in Kentucky. Typically, new users enjoy a second chance bet up to $500 on their first wager if it loses.
Bet365 Sportsbook
Bet365, a longtime player on the global stage, is making significant inroads into the United States. Its user-friendly mobile app and desktop interfaces, paired with excellent customer support, make Bet365 Kentucky a formidable competitor. While the new user bonus for Bet365 Kentucky is yet to be announced, we anticipate a bet and get type of bonus.
WynnBet
WynnBet has made significant strides in the sports betting industry, quickly becoming a favorite among regular bettors. The WynnBet Kentucky Sportsbook promo code typically grants new bettors a generous Bet $100 get $100 in bonus bets welcome offer.
Where Crypto Meets Sports Betting: Key Features to Consider When Choosing A Kentucky Betting Site
High-Value Bonuses and Promotions
Look for Kentucky crypto betting sites offering substantial welcome bonuses and ongoing promotions. Deposit match bonuses and second chance bets are popular incentives. However, remember to peruse the terms and conditions to ensure you fully understand the offer.
Competitive Betting Odds
When placing bets using cryptocurrencies or USD, shopping around for the best lines could prove vital for your betting success in the long term. It’s beneficial to use odds comparison tools to evaluate how sportsbooks stack up against each other. It is recommended to have more then one Kentucky betting account to obtain the best line.
Crypto Transactions: Deposit and Withdrawal Limits
Kentucky sportsbooks that accept crypto, the deposit and withdrawal limits vary. Some KY sportsbooks may have slightly higher requirements for cryptocurrencies than for more traditional forms of payment.
Payout Speed
Given the decentralized nature of cryptocurrencies, withdrawals can be processed almost instantly. Speedy payouts are critical due to the fluctuating nature of crypto.
Variety of Bet Types and Sports
Kentucky crypto sports betting sites should offer a comprehensive selection of betting options for all major sports, from NFL spreads to live esports betting, meeting your individual betting needs.
Secure Transactions
Blockchain technology provides a robust level of security for cryptocurrencies, making them ideal for online transactions. However, it’s essential to know who you’re transacting with online. We only recommend legal, regulated sportsbooks in Kentucky.
Exceptional Customer Support
Choose a Kentucky crypto betting site that offers quick, reliable customer support, ideally with 24/7 live chat, phone, and email support. A comprehensive FAQ section is an added bonus.
Getting Started: Your First Kentucky Crypto Betting Experience
Time needed: 8 minutes
Explore crypto sports betting apps in your region. Download multiple apps, compare betting lines and promotions, and read our Kentucky sports betting reviews. Once you feel confident, follow these steps to register with the sportsbook of your choice.
- Register Online
The registration process with a crypto sportsbook is as straightforward as any other betting site. You’ll need to provide basic information and confirm your physical location.
- Claim a Bonus
Crypto sportsbooks offer attractive promos for first-time users. First bet insurance, second chance bets and deposit match bonuses are common. Make sure to use your promo code at the prompt.
- Deposit Funds
If you have a crypto wallet, adding funds to your sportsbook account is simple. Transfer Bitcoin, Ethereum, or another accepted cryptocurrency to the unique deposit address provided by the sportsbook. Deposits from a wallet are faster, while those from a crypto exchange may take longer to process.
- Start Betting
With your crypto funds ready in your sportsbook account, you can begin placing bets. We recommend researching your bets thoroughly for best results.
- Withdraw Winnings
Check the current worth of your cryptocurrency before withdrawing winnings, and be aware of any withdrawal limits imposed by the sportsbook.
What Is Cryptocurrency?
Often termed ‘crypto’, Cryptocurrency is a digital or virtual form of currency, secured by cryptography. With no centralized regulatory body, it operates on a decentralized system to document transactions and issue new units.
Cryptocurrency provides a peer-to-peer digital payment system that doesn’t rely on banks for transaction verification. These digital currencies exist solely as digital entries in an online database, detailing specific transactions. Transfers are recorded in a public ledger, and these currencies are stored in digital wallets.
Popular types of Crypto
- Bitcoin (BTC): Introduced in 2009, Bitcoin was the pioneer in this field. Created by Satoshi Nakamoto, an alias for an individual or group whose identity remains unknown, Bitcoin continues to dominate the market.
- Ethereum (ETH): Launched in 2015, Ethereum is a blockchain platform with its proprietary cryptocurrency, Ether, or Ethereum. It ranks second in popularity after Bitcoin.
- Litecoin (LTC): Similar to Bitcoin, Litecoin has quickly innovated new features including faster payments and processes to allow more transactions.
FAQ
Yes, online sports betting in Kentucky will begin on September 28th, with the passage of House Bill 551 online sportsbooks will be able to accept crypto payments such as Bitcoin, Ethereum and more.
Cryptocurrencies like Bitcoin and Ethereum utilize blockchain technology, making them safe for use in sports betting.
Crypto gambling is secure, can be conducted anonymously, and transactions are processed promptly, making it increasingly popular among bettors.
