Overwatch Betting With Bitcoin

Posted on May 24, 2018 - Last Updated on October 1, 2020

At this point, Overwatch is a global phenomenon. With over 40 million active players, Blizzard’s action-packed shooter is taking over the esports scene, so it’s not exactly surprising that this success led to a thriving Overwatch gambling industry. Bitcoin esports betting, in particular, came forth as one of the most sought-after features. Here at overwatch bets we’re mad about cryptos, so here we examine the reasons behind this trend and explain why cryptocurrencies are a godsend for Overwatch punters.

What is Overwatch betting with bitcoin?

Before we dive deep into Overwatch betting, let’s take a look at the bitcoin itself. Chances are you’ve heard about it as the biggest cryptocurrency in the world, and bitcoin (aka ₿, or BTC) certainly lives up to the reputation. It was created in 2009 by Satoshi Nakamoto, but it wasn’t until several years later that the currency truly made its presence known.

Nowadays, a single bitcoin is worth over $8,500. This quite a feat, considering the cryptocurrency doesn’t even exist in a physical sense. However, this shortcoming is overshadowed by a multitude of tangible benefits. For one, bitcoins are based on blockchain technology, which makes them independent from banks, governments, and corporations. This means that bitcoin users don’t need the help of third parties, making every cryptocurrency deal much faster than regular transactions.

They’re also more secure. Since the blockchain acts as a public ledger, every bitcoin transaction is practically set in stone, and you can’t become a victim of questionable refunds and shady schemes. If that wasn’t enough, bitcoin allows you to create smart contracts, which solidify the details of your deals by writing them directly into the code.

Then, there’s the fact that total amount of bitcoins is capped at 21 million. This reinforces the cryptocurrency with a certain purchasing power since there can only be a limited amount of bitcoins in circulation. Esports betting bitcoin transactions are made via virtual wallets, which you can conveniently use from your PC or mobile device. Finding a reputable wallet might seem challenging, but at this point, platforms like Electrum, Mycelium, and Bread have earned a lot of goodwill from their customers.

Of course, bitcoins don’t come out of thin air. Much like every other esports betting cryptocurrency, they’re created through mining. The process is complex, but if you want an abridged version, it takes raw computing power and uses it to unlock new bitcoins. Even so, the current entry barrier is so steep that mining is no longer a profitable venture.

As for Overwatch betting with bitcoin, it’s exactly what it says on the tin. That is, it’s the use of bitcoins to make wagers on Overwatch matches. Of course, there’s nothing forcing you to employ a specific cryptocurrency, and esports betting Ethereum transactions could work just as well. However, bitcoin is still king, and you’ll find that most bookmakers prefer it to other cryptocurrencies.

Why bitcoin esports betting?

Small transaction fees

The first advantage of Overwatch betting with bitcoin is a monetary one. Transaction fees are quite prevalent on gambling platforms, especially if you’re using dollars of euros. However, things are very different for cryptocurrencies. Most of the time, bitcoin deposit and withdrawal fees fall into the range between 0% and 2%.

Keep in mind that these tend to be based on a certain percentage, so even if you want to deposit a very small amount, you won’t be crippled by fixed fees. At first, this sounds insignificant, but even the slightest change can be the difference between being a winning player and falling into the red.

Privacy and security

But transaction fees pale compared to bitcoin’s main benefits. Privacy and security. Every good Overwatch betting website takes customer data seriously, so they use complex encryption keys to store it. These tend to be almost unbreakable, but in the end, giving away your personal information always involves a degree of risk.

Bitcoin completely circumvents this issue by providing zero data. That’s right, every bitcoin transaction has its own address and private key, so you won’t be sharing things like your name, location, and credit card number. In fact, once an esports betting bitcoin deal is made, no one in the entire world will be able to find the people behind it. And the fact that cryptocurrencies aren’t connected to specific banks or countries means you can be sure that no one else has access to your virtual wallet.

So, security is obviously a big deal, as anyone would want their hard-earned money to be safe. However, why does privacy play such a huge role? Well, many esports betting websites employ strict country restrictions, so you might feel limited when choosing your gambling platform. But bitcoins allow you to work around this problem by not revealing your country in the first place. Keep in mind that this is a grey legal area, so you still need to be careful when registering your account.

The bitcoin esports betting guide

Now that you’ve taken the time to study the pros of cryptocurrencies, how do you start Overwatch betting with bitcoin? It’s quite simple. Most bookmakers will walk you through the process, but in case you can’t find any instructions, feel free to follow our guide:

  1. Log in to your favorite esports betting site.
  2. Find the “Make a Deposit” tab. If bitcoin deals are supported, ฿ should be one of the payment methods.
  3. Choose how much you want to deposit. Oftentimes you’ll have to specify the amount in $ or €, as bookmakers tend to convert currencies to make the betting process more straightforward.
  4.  This step might vary depending on whether you’re using a PC or a smartphone.
    On a PC, access your wallet and copy the address from your gambling platform.
    On a mobile device, use your wallet app to read the bookmaker’s QR code.
  5. That’s it! You’ve just made your first bitcoin deposit!

Remember that these are very basic guidelines, and it’s entirely possible that your esports gambling website will offer you a different way to bet with bitcoin.

Where to bet bitcoin on Overwatch?

Even though bitcoin has been around for a while, not every bookmaker supports the currency. In fact, Overwatch betting sites tend to be quite conservative with their payment methods, so you might be hard-pressed to find the right platform. Fortunately, some bookmakers still keep up with the latest crypto trends. Here are a few platforms you can try:

  • ArcaneBet is a dedicated esports betting website with a great 100% deposit bonus of up to €200. The welcome offer is easy to redeem, and the platform covers a wide range of Overwatch tournaments.
  • Netbet is a trusted sportsbook that branched out into esports. It’s the hallmark of safety and security, and the 50% deposit bonus of up to £50 acts as a metaphorical icing on the cake.
  • EGB.com is an up-and-coming site with a strong emphasis on competitive gaming. It comes with a multitude of exciting promotions for new and veteran bettors alike.
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