Who should make use of the comparison?
Here we have the merging of two different key betting audiences with bitcoin betting exchanges. One is the section of people who are interested in betting exchanges. The reasons for this are usually pretty simple: they have an advantage when it comes to odds. As the bookmakers don’t need to build in a profit margin to their odds, that difference can be passed onto the bettor. Instead, the operator makes its money through commission on net winnings.
So, mix the people who want the best possible odds with those who want to access a wider market of betting options – all while enjoying both security and anonymity benefits – and you pretty much have nailed the perfect candidate to utilise bitcoin betting exchanges.
People from countries with restrictive gambling laws are also likely to want to utilise cryptocurrencies generally.
Operator Checklist: Top 5 steps for a secure & fair gambling experience
Although bitcoin sports betting exchanges are no doubt different to your traditional sportsbook, or regular crypto trading exchange, they still follow the same rules in many respects. One example of this is when it comes to secure and fair gambling. All the steps that we take for a bitcoin sports betting exchange remain the same as a traditional sportsbook.
Do note that we won’t be mentioning checks for casinos specifically – like looking for evidence of games being random. That’s because even though a bitcoin betting exchange may also have a casino, that wouldn’t really be considered part of the bitcoin betting exchange section. With that in mind, here’s five steps we take to ensure that everything we recommend meets our high standards.
Make sure the site is encrypted
There’s no doubt extra security in utilising a bitcoin betting exchange. That and the anonymity it provides are two key reasons for its immense popularity. However, this doesn’t mean you can leave your data out in the open for anyone to find and take advantage of.
Look for a legitimate license
Notice that we said ‘legitimate license’. That’s because not all licenses are created equal, with some being more respectable than others. If you’re unsure of where the license you’re looking at falls in this regard, you can always do additional research. The UK Gambling Commission and a Malta Gaming License, for instance, are two highly respected examples.
Of course, if there’s no license to be found, then the site in question could be very risky to use. Licenses ensure that betting sites are operating above the law and that they’re accountable. Were you to lose your money at an unlicensed bitcoin betting exchange, your options could be very limited.
Check their reputation
While we do plenty of tests when finding the best bitcoin sports betting exchange, it’s always important for us to keep in mind that our experience is just that, our own. It’s, therefore, vitally important to see what other people have to say about the bitcoin betting exchange in question, and use that alongside our experience to get the best possible impression of what people can expect.
This is especially the case when we’re talking about security and fairness, because we absolutely want to know if there’s any reason to doubt them in that regard. This also brings us to our next point.
Research the history of the bitcoin betting exchange
If a betting site, of any kind, has been around for a while without a serious blemish on their record, that really helps us in getting an idea of how secure they are. Bad betting sites tend to get a reputation very fast, especially if there’s some kind of significant accusation.
So, we always look for red flags in that bookmaker’s past to see if there’s anything we can learn or any reason not to trust them. Obviously, this isn’t always possible with new bookmakers, so we do the best we can with our research, and that’s taken into account.
Ensure they take responsible gaming seriously
What we mean by this is whether a betting site acts responsibly and respects its users preferences and settings, as well as if they actively go out their way to provide advice and help to ensure everyone remains safe while using their site. This includes betting limits, time-outs, self exclusions and more.
It doesn’t even matter if you don’t think you would ever have to use these facilities, as you should still consider it important – not just for your fellow bettor but also for what it says about how trustworthy and responsible the bitcoin sports betting exchange in question is.
Editor’s recommendation – the best operator
When we talk about the best operator, we often imagine that there might be one clear operator that’s better than all the rest, but we don’t actually think that’s the right way of looking at it. There are a whole bunch of great betting sites out there, from bitcoin sports betting exchanges to casino sites to esports gambling sites and much more.
As you can see, betting is a rather broad term, meaning there’s an awful lot of scope within that umbrella. Naturally, you cannot fairly compare a site that just offers slots, for instance, and one which focuses on sports. This means that a lot of it comes down to target audiences, and we can’t always definitively say which operator is better because they have totally different aims.
Now, to clarify, this isn’t to say that some betting sites are not objectively better than others. If you have a badly designed, unlicensed, untrustworthy betting site that no one in their right mind would want to use, and another that can be considered amongst the best in the world, you can call the latter better no matter what kind of betting they’re offering. However, when you get to that high level – when all the operators are good to great – that’s when it becomes something more subjective.
This is how our experts test operators
No matter what kind of betting site we’re looking at, we always strive to find you the absolute best and the only way we can do that is through a series of custom tests we perform. This way, we know, personally that every nook and cranny has been covered and only then can we make recommendations for the best bitcoin sports betting exchange. With that in mind, here’s 10 ways our experts test operators.
1. Look at the terms and conditions
If you’re going to uncover something about a site which shows you not everything is as peachy keen as it appears on the surface, then you’ve got to look at the terms and conditions. This means both general and for specific promotions, to get a full idea of how the bookmaker actually operates and see whether they’re worthy of being considered amongst the best bitcoin sports betting exchanges.
2. Check out the Help section
Similar to terms and conditions – but more concerned with user issues rather than rules and regulations – the Help section is a really good indicator of how seriously a site takes fan service, as well as simply being an important tool in its own right.
3. Find out what customer service options are available
No matter how good a Help section is, there will always be a need for means of contacting the site’s customer services team. So, we see what options are available and between what hours. For most people, around the clock live chat is ideal, although extra points are absolutely awarded for things like phone lines, so we can talk to real people. Speaking of which…
4. Talk to customer service
The only way to really see how good customer service can be is to try them out yourself, so that is exactly what we do. We compare this with our research into reputation and what other customers are saying to get the fullest idea possible of typical service.
5. Examine the structure and design of the site
There are two key points to site design – well, three if you count our next entry – but the looks and the structure are certainly a duo of vital importance. Looks wise, we’ll make no judgement on style. After all, that’s a preference thing. But we will be ensuring that everything is presentable.
In terms of structure, we want everything as easy to find, use and as well set out as possible to provide the best user experience.
6. We push the technical element of the site to the limit
On top of structure and looks, there’s also the technical part of the site design to consider. This is really whether everything works smoothly, checking there are no broken links or any lag or slowdown: anything that could be seen as a technical flaw. We want everything to be buttery smooth to get our approval. The only real way to test this is to use the site as much as possible and keep our eyes peeled.
7. Interact with the site on mobile
Ever more important is mobile apps or site versions, so we see what’s available and how it stacks up to the desktop version. The less compromise, the better.
8. Check the banking options
Obviously, this article is all about the best bitcoin sports betting exchanges, meaning the world’s most popular cryptocurrency must be available to get a recommendation. We also review things like fees, transaction times and other available payment methods to ensure it’s all fair.
9. We use the site as much as possible
We mentioned this when talking about technical elements but it’s also true more generally: the best way to test out a site is to simply try it out as much as possible for yourself. That means we utilise as much of the site as we can manage, from desktop to mobile, analysing whether we think the overall package is a positive experience worthy of recommendation.
10. Remember those security checks? We do those too
Our final test is actually a few in one, as it’s the security tests we mentioned before. Yes, they are part of our tests – in fact, there’s none more important.
Finding the right operator for you
We can’t say one operator is objectively the best, as they have different aims, products and target audiences but that doesn’t mean there cannot be a best bitcoin betting exchange for you. Think of our recommendations as a starting point. Use them to know you’re getting a certain level of quality and from there, you can use your own preferences to fill in the gaps and decide where is best for you.
This should always be about enjoyment, even down to finding the right betting site. By wading through the legions of options and providing you with a buffet of the best, we hope we’ve achieved exactly that.
Bitcoin betting exchanges are best understood as part of a rich tapestry of online betting options. We’re so fortunate to be able to not only choose the type of currency and payment methods we want – thereby allowing us to enjoy what the whole world has to offer – but also to be able to choose the kind of betting we want, whether that be casino, bingo, poker, sportsbook or indeed a betting exchange.
Bringing these two things together really represents the incredible amount of freedom that we now enjoy in the online betting world. The amount of variety does require a guide and some direction though, which we’re more than happy to provide.