All the top Philippines sports betting sites take a number of different deposit methods, but the most popular option is Bitcoin (BTC). Philippines Bitcoin sports betting is the easiest way to get started, as deposits are 100% guaranteed, come with no added fees, make players eligible for the best online sportsbook bonuses and promotions, and allow for same-day payouts.
Even better, since you can keep your deposit in BTC or mBTC (milliBitcoin), that means your coin goes up in value whenever the market price does. As a result, if you time it right, Bitcoin lets you bet more with your deposit than other Philippines sports betting banking methods, and the appreciation on payouts can add multiples to your wins. To learn how to get started betting on sports in the Philippines using Bitcoin, our short guide is money in the bank!
Online Sportsbooks That Accept Bitcoin & PH Players
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What Is Bitcoin
Released in 2009, Bitcoin is the granddaddy of all crypto coins. As the first virtual asset and testbed of now-standard blockchain technology, Bitcoin (ticker symbol BTC) is the most valuable crypto asset in the world.
Because cryptocurrencies require no banking or governmental oversight, transfers are secure and guaranteed, and there’s no better way to fund your online sports betting in the Philippines – or anywhere else! And since Bitcoin has proved itself to be a legitimate, can’t-miss investment, it’s the surest bet in the business, too.
How To Bet With Bitcoin In The Philippines
Now that you know what Bitcoin is, you need to know how to buy Bitcoin and use it to fund your online sports betting activities. Fortunately, that’s easy, as BTC is legal to acquire in the Philippines through any number of legitimate online cryptocurrency exchanges.
Services like Coinbase, Bittrex, Binance, Coinmama, etc. are all viable options that make it easy to purchase Bitcoin using Philippine pesos, US dollars, and more.
Once you have your Bitcoin in hand, you can use it at any reputable Philippines betting site reviewed here and take advantage of all the financial benefits BTC has to offer.
Bitcoin Deposits at PH Sportsbooks
Bitcoin deposits can be made at any legal PH sportsbook using the following process. While each site is different, the financial aspects are similar, and all deposits are handled either when signing up or later via the site’s dedicated Cashier page.
- Follow any link here to a trusted legal Philippines Bitcoin sports betting site and click/tap the “Register,” “Join,” or “Sign Up” option.
- Enter in your personal information at sites that require this data (BetOnline Sportsbook, Xbet Sportsbook, etc.), or copy down your automated username and password at sites utilizing instant registration. Your personal info is never shared or sold, and all top sites use SSL/TLS encryption for all connections.
- Choose the Bitcoin deposit option from the bet funding menu, and copy your PH betting site’s Bitcoin receiving address. Select whether you want your deposit to be credited in BTC, mBTC, USD, or any another supported fiat currency. We recommend keeping your deposit in Bitcoin (or milliBitcoin) to take advantage of potential market gains.
- Open the BTC transfer panel via your BTC exchange wallet, Bitcoin software wallet, or Bitcoin hardware wallet, and paste in your sportsbook’s BTC address.
- Enter in the amount of BTC you’d like to send to your book and submit the transfer.
Bitcoin deposits take about 30-60 minutes at most legal Philippines sportsbooks, which is due to block verification times and general network activity. Once your deposit goes through, your funds will be ready to use for legal online sports betting immediately.
Bitcoin is the fastest way bet on the PBA, gamble on boxing, put money on all major league sports (i.e. soccer, football, baseball, the NBA, etc.), bet on eSports, and even participate in online horse racing betting.
Note: Bitcoin deposits and all BTC transfers (including sports betting payouts) come with blockchain transaction fees. Bitcoin fees are the highest for any current crypto asset, are native to BTC, and are not assessed by your PH sportsbook site (which is true for all crypto betting transfers). If you want lower blockchain fees for crypto banking, we recommend using altcoins like Litecoin (LTC), Ethereum (ETC), Stellar (XLM), or Cardano (ADA).
Bitcoin Withdrawals & Payouts at PH Sportsbooks
Cryptocurrency withdrawals are the only way to claim same-day payouts at the best legal PH betting sites, and the process is simple, comes with no added fees, and lets you have your winnings in-hand within just a few hours on average.
To claim a BTC betting payout, here’s what you’ll need to do:
- Visit your Philippines sportsbook’s Cashier page and select the Bitcoin withdrawal option.
- Enter in the amount of your eligible account balance that you wish to withdraw.
- Copy your Bitcoin exchange receiving address or BTC wallet receiving address and paste this into the appropriate field at your sportsbook Cashier page.
- Submit the ticket.
At all top-rated Filipino betting sites, Bitcoin withdrawals are processed in a timely manner. Most sites take 1-2 hours to verify your withdrawal request, and from there, the BTC transfer takes just 30-60 minutes.
The ability to claim same-day payouts with no surcharges is a major benefit of using Bitcoin to bet sports in the Philippines, and it’s why crypto gambling has become the number-one option for most players who value efficiency and privacy.
Bitcoin Bonuses Available to Filipino Sports Bettors
Bitcoin sportsbook bonuses are a big reason why so many Filipino gamblers prefer using crypto to fund their sports betting deposits. Typical banking bonuses are already valuable enough, but with Bitcoin or Bitcoin Cash, you get far more bang for your e-buck. Instead of 50% deposit match bonuses, for example, most sites give you 100% match bonuses – and sometimes even more – just for using BTC.
This is because PH sportsbooks prefer handling all their financials using cryptocurrency, as it takes out the middleman and increases everyone’s bottom line, including yours!
To get more players betting with Bitcoin and other crypto coins, legitimate gambling operators sweeten the pot with sportsbook bonuses no other deposit option can match. Best of all, enhanced Bitcoin bonuses come with the same low rollover rates as standard online betting promos (5X-10X), making the wagering requirements easy to meet for all players.
Bitcoin Sports Betting FAQs
Is Bitcoin legal in the Philippines?
Yes! It is perfectly legal to buy, sell, and trade Bitcoin in the Philippines, and the same is true for all other cryptocurrencies on the market.
That said, Bitcoin/crypto investments do count as income per Philippines gambling law, so please remember to always report your holdings and gains on your income taxes.
This is also the case for all offshore Philippines sports betting wins whether you use BTC or not: Online gambling payouts count as taxable income.
For more information about how crypto gains and sports betting wins are taxed in the Philippines, please contact a local tax specialist.
Is Bitcoin safe for sports betting?
Bitcoin is not only safe for sports betting, it’s actually the safest way to bet sports online in the Philippines.
Thanks to the quantum-hacking-resistant Bitcoin blockchain, your transfers always go through, cannot be intercepted or altered, and Bitcoin’s open ledger technology means you can always track your transfers with ease.
Bitcoin and other cryptocurrencies are the absolute safest and most secure financial transfer options in the world, hands down.
Is Bitcoin a good investment?
Absolutely! Bitcoin – in just a few short years – has generated more wealth for the average Filipino than any other type of investment opportunity.
Bitcoin started out in 2009 with a value of just fractions of a penny, and as of 2021, BTC hit an all-time high (ATH) of $62,000. The appreciation potential of Bitcoin is massive, and we’re still on the ground floor.
Of course, you should take care to watch the highs and lows week-to-week and month-to-month so you buy Bitcoin when its value is substantially lower than it’s ATH.
It’s also a smart play to withdraw your betting winnings in BTC when the asset is trending low, so you should always pay close attention to the Bitcoin news of the day.
Where can I get Bitcoin in the Philippines?
There are many reputable, trusted online crypto exchanges to choose from in the Philippines. These include the following, just to name a few:
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Please remember that for first time users making PHP-BTC or USD-BTC transfers to buy into crypto, there is a typical wait of 5-10 days at most exchanges.
Regardless of how you get your BTC, of course, you’ll want to move it off-exchange to a private BTC wallet ASAP.
What is the best Bitcoin wallet for legal Philippines sports betting?
One of the most important parts about getting started using Bitcoin for sports betting (and holding BTC in general) is that you must set up a Bitcoin wallet.
All Philippines Bitcoin exchanges have built-in wallets, but we recommend moving your crypto off these to private wallets that allow you to have full custody of your digital assets.
The best Bitcoin wallets for sports wagering are “hot wallets,” or software wallets. The BTC software wallets we recommend are Atomic, Exodus, and Mycelium.
You can also use Bitcoin hardware wallets, though these add a few steps when transferring money to your sportsbook. Avid bettors may miss out on valuable lines by taking the extra time needed for using hardware wallets. Still, hardware BTC wallets are a great idea for added security, and brands like Ledger and Trezor make excellent cost-effective devices.
Please only download BTC software wallets from their official developer pages, and only buy BTC hardware wallets from their official manufacturer websites.