How to Use Bitcoin to Bet the Kentucky Derby

Written by:
Guest
Published on:
Apr/09/2018

You can fund your online sports betting account using Bitcoin this Kentucky Derby and withdraw using that cryptocurrency, then convert it into USD, euros, pounds or other money by connecting to your bank account.

bolcrypto.gif

The online betting site of your choice will have you send them the special address/token obtained from the Bitcoin wallet or exchange.

You would select either SEND (to deposit funds) or RECEIVE (to withdraw funds).

Some exchanges allow one to connect to their bank accounts.  The Bitcoin can be converted into the currency of your choice then transferred into your account in as little as 24 hours.  Note that it is never wise to hold cryptocurrency in an exchange.  One should store cryptocurrencies in a wallet.  You should transfer funds between the wallet and your chosen online sportsbook then move funds into the exchange and finally into your bank account, assuming you don't want to invest the Bitcoin or other cryptocurrencies.  While this adds a little extra time to the process, wallets are considered much more secure than the exchange itself. 

The one drawback is that the price of cryptocurrencies can fluctuate upwards or downwards depending on the trading price of Bitcoin.  You will want to monitor the Gambling911.com website to follow current  pricing trends and avoid making a withdraw during periods in which the price is trending downwards. 

- Gilbert Horowitz, Gambling911.com

Horse Racing News

2024 Kentucky Oaks Betting Odds, Preview

While the horse-racing season doesn’t actually begin in May at Churchill Downs, interest in the sport seems to increase once the best 3-year-olds get to Louisville.

Who are the leading Contenders of the 2024 Kentucky Derby?

The competition is fiercer as the thoroughbred racing world is coming to another Kentucky Derby. Enthusiasts are making bets on the contenders as some of them are getting to the top one way or another, even before the races start. We have another historic moment in the history of the Kentucky Derby, so what we should do right now is get to know the favorable horses of this year’s race. 

Kentucky Derby Preps Betting Previews for 2024

You don’t just saunter into the starting gate at the Kentucky Derby. You have to earn your way in with solid performances (and points) in prep races. The last three major “prelims” ahead of Derby 150 at Churchill Downs all go this Saturday afternoon.

Syndicate

Subscribe to Syndicate
More