Monero Betting in 2024: Top Platforms, Step by Step Guide, and Pro Tips

What is Monero?

Monero is a digital currency designed to offer the highest level of anonymity and privacy. Its history dates back to 2012 when the cryptocurrency white paper, CryptoNote, was released. The cryptocurrency Bytecoin launched in 2012, becoming the first digital currency to launch under the CryptoNote protocol. In 2014, Bytecoin’s code was forked to create Bitmonero, which is now called Monero.

While Monero is a decentralized peer-to-peer cryptocurrency, its main focus is on offering the most anonymous transactions. In other words, every Monero user is anonymous by default. The amount of XMR transacted, the sender, and the receiver are hidden using advanced technologies, including Ring Signatures, Stealth Addresses, and RingCT.

Monero uses a proof-of-work consensus mechanism, which lets miners from all over the world add new blocks to the blockchain. However, the system is resistant to application-specific integrated circuits (ASICs). New blocks are added every 2 minutes, making Monero one of the fastest payment options for sports bettors.

How to Choose the Best Monero Sportsbook

When finding a Monero betting site, you must pay attention to key features that will enhance your overall betting experience. The right bookmaker ensures competitive betting odds, valuable bonuses, and safe and fast transactions.

The six important aspects you need to consider include:

Payment Speed

A fast-payout sportsbook allows you to place bets and access your winnings whenever you need them. While Monero transactions are instant, you need to check the sportbook's processing timeframe. The best sportsbook should process your withdrawals instantly. In case of delays, it shouldn't take more than 24 hours.

Payment Security

Robust security measures ensure safe and secure financial transactions. For this reason, you should prioritize sportsbooks that protect user funds using advanced security measures such as 128-bit SSL technology.

Banking Fees

Low transaction fees allow you to keep more of your deposits and winnings. Although Monero transaction fees are among the lowest, you need to check the fees charged by the sportsbook on deposits and withdrawals. You should only prioritize Monero betting sites with zero or low processing fees.

Withdrawal Limits

Understanding withdrawal limits will help you make an informed decision on which betting site to join. High withdrawal limits are beneficial for high-stake players who make huge transactions. On the other hand, low withdrawal limits are ideal for casual players who make small deposits and withdrawals. A minimum withdrawal limit of 10XMR is ideal for casual players, while a maximum withdrawal of 100,000XMR is suitable for high rollers.

Monero Betting Bonuses

Betting bonuses are a great way to explore the platform without risking too much of your money. Prioritize Monero bookmakers that jump-start your betting adventure with tasty welcome bonuses, including free bets and match deposit bonuses. Moreover, check if there are ongoing promos like reload bonuses, referral bonuses, and cashback bonuses.

Variety of Sports

A wide variety of sports and betting markets keeps the betting experience exciting and engaging. To this end, prioritize XMR betting sites that cover all the popular sports, including Golf, Soccer, Basketball, Tennis, and Rugby. You should also check the betting odds to ensure they are generous.

How to Bet with Monero

If you are a beginner player or an experienced bettor used to fiat payments, you won't face difficulties when betting with Monero. Here are the simple steps to follow and start making fast, secure, and anonymous Monero transactions:

Step 1: Purchase Monero

Like other cryptocurrencies, you can buy Monero from cryptocurrency exchanges such as Crypto.com and Binance. Make sure you buy from a trusted cryptocurrency exchange to avoid losing funds to scammers. Before you buy, you will need to create an account by entering details such as name, email address, and password.

Most cryptocurrency exchanges also require you to upload your government-issued ID to verify your account. Once your account is ready, you can fund it via cards, e-wallets, bank transfers, or other cryptos. Buy the amount of XMR you want and transfer them to the crypto wallet of your choice.

Step 2: Sign Up at a Monero Betting Site

Check our list of the best Monero sportsbooks and pick the one you want. We have reviewed the sites thoroughly, paying attention to features such as licensing, security, user reviews, and promotions. Follow these simple steps to create a betting account:

1. Head to the sportsbook’s homepage by clicking on our link
2. On the homepage, click on the “Register” button and complete the registration form. You will submit details like name, date of birth, phone number, email address, and a secure password.
3. Agree to the sportsbook’s privacy policy and terms and conditions. Some sportsbooks may also require you to confirm if you’re of legal age to gamble.
4. Verify your account. This includes verifying your email address or phone number.

Step 3: Deposit Monero Funds

Visit the cashier section and click on the deposit button. After that, select Monero as a deposit method and copy the receiver's address. Pay attention to this step, as any incorrect address could lead to the loss of funds.

In your Monero wallet account, copy and paste the receiver's address and enter the amount of XMR you want to transfer. Authorize the transaction and wait for funds to be credited to your account. Moenero deposits are usually instant but may take a couple of minutes to be processed.

Step 4: Place Your Bets

On top of the homepage, find the sportsbook button and click on it. This will reveal all the available sports and betting markets you can bet on. You will, for example, find Football, which has betting markets such as match winners, correct scores, double chance, and totals.

Ensure you understand how to read odds and how they work before placing the first bet. Once you decide on the sports and betting market, enter the bet amount and press the "Place Bet" button.

Step 5: Withdraw Your Winnings

To cashout winnings, visit the cashier and select Monero as your preferred payment method. Enter the withdrawal amount and then provide your Monero wallet address. Ensure you enter the correct address to avoid loss of funds.

Monero withdrawals are instant. However, the time funds take to reach your wallet account may vary depending on the sportsbook’s processing timeframe. On matters fees, they depend on the network congestion and data size but can be as low as $0.02.

Advantages of Monero Betting

Using Monero on online betting sites comes with a vast range of benefits. The crypto was designed to offer the highest level of privacy and anonymity. Besides, it offers fast, secure, and low-cost transactions.

Highest Level of Privacy and Anonymity

Menero is by far the best cryptocurrency that offers the highest level of privacy and anonymity. According to Monero, all transactions are hidden through three technologies, including Stealth Addresses, RingCT, and Ring Signatures. These technologies make Monero users anonymous by default.

Fast Transaction

Monero has shorter block times, making it one of the fastest cryptocurrencies. New blocks are added to the blockchain every two minutes, which is higher than Bitcoin, which takes 10 minutes. With this, you can expect to make near-instant Monero transactions.

Low Processing Fees

Monero charges low processing fees, which are more predictable due to the block size adjustments. While the fees depend on network congestion and data size, they can be as low as $0.02. This makes Monero the perfect payment option for bettors who want to keep more of their winnings.

High Security

Monero is untraceable, eliminating fraud and hacking risks. It’s also decentralized, meaning there are no third parties monitoring your transactions. Better yet, Monero transactions are irreversible, reducing the risks of chargebacks.

Key Features to Look for in Monero Betting Sites

While we have found the best sportsbooks on your behalf, you need to take several personal considerations into account. To enjoy a safe, secure, and enjoyable betting environment, you need to look at key features such as:

Bonuses and Promotions

Bonuses and promotions play a big role in enhancing your overall betting experience. Bonuses such as welcome bonuses let you kick off your betting adventure without investing more of your funds. Ongoing promotions such as reload bonuses and cashback bonuses help you keep rolling without worrying about wagering bankroll. Check if all these incentives are available before joining a Monero sportsbook.

Range of Sports and Games

A wide variety of sports allows you to have many betting options to choose from, further enhancing your betting experience. Check if you can bet on popular sports like Basketball, Tennis, Rugby, Football, and Baseball. Furthermore, ensure there are plenty of betting markets and competitive odds.

Payment Speed and Fees

Fast transaction times allow you to access winnings promptly, making the betting experience smoother and more enjoyable. Make sure the site you join doesn’t hold your winnings for too long in the name of processing. You should also check processing fees to ensure they don’t eat too much of your profits.

Customer Support

A professional customer support team ensures your issues are solved quickly and efficiently. Check if the Monero betting site offers 24/7 support through multiple channels such as phone, email, and live chat. Additionally, check if support agents can solve issues in multiple languages.

Licensing and Security

Choosing a licensed and regulated betting site is vital for fair play and a secure gambling environment. For this reason, prioritize bookies with licenses issued by reputable licensing bodies. Licensing bodies address players' complaints, enhancing the integrity of the betting platform.

Monero Deposits and Withdrawals

You don’t have to be an experienced bettor to make Monero deposits and withdrawals at online betting sites. The cryptocurrency is simple and efficient, allowing bettors to make fast and secure transactions without facing difficulties.

How to Deposit with Monero

The straightforward process of depositing with Monero includes:

1. Create a Monero wallet: A Monero wallet is an online platform where you will keep your XMR after purchasing.
2. Purchase XMR: To purchase XMR, you need to register with a trusted cryptocurrency exchange like Binance or Crypto.com.
3. Log in to your betting account: Once logged in, head to the deposit section and select Monero as a payment method.
4. Transfer Monero funds: After selecting a payment method, copy the receiver's address. In this case, the sportsbook is the receiver. Make sure you copy the correct address to avoid losing funds. Log in to your Monero wallet account and copy and paste the receiver's address. You will also enter the deposit amount and authorize the transaction.

How to Withdraw with Monero

1. Head to the withdrawal section and select Monero as your preferred payment method.
2. Enter the withdrawal amount and copy the Monero address where you want to receive your funds.
3. Confirm the transaction and verify your account if requested.
4. Your funds should appear in your Monero wallet within 0-10 minutes. Keep in mind that a small processing fee of $0.02 may apply.

Monero VS Other Cryptocurrencies for Sports Betting

Although Monero is not as popular as other cryptos, such as Bitcoin, Tether, and Ethereum, it has features that have won the hearts of many sports bettors. In this section, we will look at how Monero compares to other cryptocurrencies in terms of transaction speeds, transaction fees, privacy, and volatility.

• Transaction speed: Monero’s shorter block times make it one of the fastest cryptocurrencies. New blocks are added every two minutes, faster than Bitcoin, which adds new blocks every 10 minutes.
• Low processing fees: Monero generally has lower fees of $0.02 on average, lower than that of Bitcoin and Ethereum. This makes it a cost-effective payment option for sports bettors.
• Security and privacy: Monero enhances privacy using three advanced technologies: Ring Signatures, RingCT, and Stealth Addresses. These technologies make Monero transactions untraceable. Other cryptocurrencies, such as Bitcoin and Ethereum, are decentralized, but their transactions are made public for everyone to see.
• Availability and acceptance: While Bitcoin is the most popular cryptocurrency, Monero is gaining traction, with statistics showing that it has over 9 million transactions annually.
• Market volatility: Monero is relatively stable compared to other more volatile cryptocurrencies such as Dogecoin. Because of this, sports bettors can hold more XMR in their wallets and bet without worrying about price fluctuations.

With fast, safe, secure, cheaper, and anonymous transactions, Monero is unquestionably one of the best banking methods for online sports bettors.

Popular Sports to Bet on with Monero

Monero users have a wide variety of sports to bet on. From traditional sports such as Football and Horse Racing to modern e-sports, our Monero sports betting sites have something for everyone. The diverse sports, alongside their competitive odds and Monero’s fast, secure and anonymous transactions, will indeed take your betting experience to the next level.

Here are the top sports to bet on with Monero:

Football

Football is the most popular sporting event, attracting billions of viewers globally. Our featured bookmakers cover popular football leagues and events, including La Liga, the English Premier League, World Cup, and Bundesliga. From match winners, totals, double chance, handicaps, odd/even, and correct scores, Football offers a betting market for everyone.

Tennis

Tennis is another thrilling sport you can bet with Monero and win real money. Register with our top sportsbooks and enjoy betting on the world's most popular Tennis Tournaments, including the Australian Open, The French Open, Wimbledon, and the US Open. Tennis betting markets are also in plenty and include outright winners, totals, and prop bets.

Basketball

If you love fast-paced sporting events, Basketball is the perfect sport for you. Get ready to try your luck in popular Basketball leagues such as the NBA League, ABA League, and Basketball World Cup. When it comes to Basketball markets, you can choose from match winners, correct scores, totals, and odd/even bets.

Horse Racing

Our featured Monero betting sites also offer odds on Horse Racing, a sporting event with a rich history. You can bet on popular horse races such as Kentucky Derby, Belmont Stakes, Epsom Derby, and Melbourne Cup.

E-Sports

The new generation of gamers who love sports with a social component has not been left behind. Join one of our recommended sportsbooks and enjoy betting on top e-sports games such as Dota 2, Call of Duty, League of Legends, CS:GO, and Valorant. You can also choose from a variety of betting markets, including match winners, over/under, and futures.

Monero Betting Bonuses

The great thing about Monero sportsbooks is that they offer lucrative bonuses for all players. New customers receive welcome bonuses while existing bettors are treated to regular offers from time to time.

Here are the popular bonus offers you can expect:

Match Deposit Bonuses

Most sportsbooks offer match deposit bonuses as part of the welcome package. To be eligible, you must make a qualifying deposit, which is matched by a percentage. For example, a 100% match welcome bonus will match your qualifying deposit by 100%. If you deposit 100XMR, you will receive a bonus of 100XMR.

No Deposit Bonus

A no deposit bonus is the most appealing incentive as it doesn't require any qualifying deposit. It's a free reward that you receive for registering an account. Some sportsbooks may also offer no deposit bonuses for completing simple tasks like downloading an app or verifying an email/phone number.

Free Bets

Monero gambling sites offer free bets, allowing bettors to place bets without using their real balance. At some sportsbooks, you may receive a free bet for registering an account or without making any deposit. However, some sportsbooks may require you to place a bet, and if you lose, they will reward you with a free bet.

Cashback Bonus

A cashback bonus is a generous incentive that returns part of your net losses. To be eligible, you must place bets and lose a certain amount of money during a specified wagering period. For example, some Monero betting sites offer a 10% cashback bonus on weekly losses.

High Roller Bonuses

High roller bonuses reward bettors who deposit and wager huge amounts of Monero. While these bonuses require huge deposits, they can significantly boost your wagering potential.

All Monero betting bonuses we have mentioned above come with terms and conditions. Most of them have wagering requirements, minimum qualifying deposits, eligible sports, expiry dates, and maximum win. Ensure you understand the specific terms of each bonus to make the most out of it.

Expert Tips for Betting at Monero Sportsbooks

While no strategy guarantees a win in gambling, you can maximize your profits with the following tips:

Tip 1: Bankroll Management

Before you place your first Monero bet, you need to come up with a wagering budget and stick to it. You need to set the amount of XMR you want to spend daily, weekly, or monthly. This will help you avoid significant losses.

Tip 2: Research Sports and Teams

It's important you learn how a particular sport works before placing the first Monero bet. If you want to bet on Basketball, for example, you need to understand how it's played, how Basketball markets and odds work, and the different teams in Basketball. All this will help you make informed decisions that will ultimately lead to better outcomes.

Tip 3: Take Advantage of Bonuses and Promotions

Monero betting sites offer bonuses and promotions for all players. Make sure you claim the welcome bonus and enjoy betting without risking your own cash. Furthermore, visit the promotions page regularly to claim ongoing promos. Don't forget to go through the terms and conditions to avoid forfeiting your bonus.

Tip 4: Diversifying Bets

Bet diversification is a great strategy that not only spreads your risk but also increases your chances of winning a fortune. In other words, you should spread your bets across different sports and teams.

Tip 5: Stay Updated with the Latest in Sports

As a professional gambler, you should always stay updated with the latest sports news and trends. For example, if you love betting on Football, you should know the latest transfers in Football. It’s also important to know if your favorite team has injuries or not. All this will help you make informed bets.

Tip 6: Play Responsibly

Lastly, you need to observe responsible practices to ensure an enjoyable betting experience. It’s crucial you set beforehand deposit limits, wager limits, and loss limits. Moreover, you can self-exclude yourself from betting or seek help if you detect problem gambling.

Pros and Cons of Monero Betting

Gambling with Monero comes with a wide range of benefits and a few cons. On the brighter side, you enjoy making secure and anonymous transactions. You also enjoy low processing fees and near-instant transactions. On the cons side, Monero is prone to price fluctuations, and there is no central authority to regulate it.

Pros:

• Low processing fees
• Anonymous transactions
• High level of security
• Monero-specific betting bonuses
• Near-instant transactions

Cons:

• Not regulated by any institution
• The price of Monero fluctuates
• Monero transactions are irreversible

FAQs

Is it legal to bet with Monero at online betting suites?

Yes, it's completely legal to bet with XMR at an online betting site. All you need to do is to join a licensed and regulated Monero sportsbook.

Where can I find the best Monero sports betting sites?

The gaming experts at CryptoGamble have already found the best XMR sportsbooks for you. Pick the bookmaker you want from our list and kick off your Monero gaming adventure.

How long does it take to deposit and withdraw funds using Monero?

Monero deposits and withdrawals are processed within 0-10 minutes. However, Monero bookmarkers have their own processing timeframes that could be longer.

What sports can I bet on using Monero?

You can use Monero to bet on the world's most popular sports, such as Tennis, Golf, Baseball, Basketball, Football, Horse Racing, and E-Sports.

Where can I buy Monero for sports betting?

You can buy XMR from trusted cryptocurrency exchanges such as Binance, Coinbase, and Crypto.com.