According to The Financial Times, bets placed in cryptocurrency last year generated $8.14bn in gross gaming revenue.

Crypto betting's explosion in Nigeria is no news. ConsenSys and YouGov conducted a global poll which found Nigeria to have the highest level of crypto market awareness in Africa.

According to The Financial Times, bets placed in cryptocurrency last year generated $8.14bn in gross gaming revenue (GGR). This is a significant increase from the previous year, and it is a testament to the growing popularity of cryptocurrency and gambling.

The fear has always been about how crypto betting might be in its test phase, but it’s way beyond that now.

Crypto and Bitcoin sports betting is the spice to the sports betting experience.

In other news, ConsenSys and YouGov conducted a global poll which found Nigeria to have the highest level of crypto market awareness in Africa.

The study, which surveyed 1,000 respondents in each of 10 countries, revealed that 90 percent of the respondents in Nigeria had heard of crypto. This was significantly higher than the average across the 10 countries, which stood at 71 percent.

As cryptocurrency keeps testing limits, it was only a matter of time before Nigerians adopted it as a means of placing bets.

But it’s not just about placing a bet, is it? It’s about betting it faster, with lower fees, and more privacy.

This article will walk you through everything you need to know about crypto and Bitcoin sports betting, step by step, and unveil the best crypto betting sites for 2025.

What Is Crypto Betting?

Crypto betting is the practice of using cryptocurrencies like Bitcoin, Ethereum, etc., to place bets instead of traditional fiat currencies like Naira, USD, or Euro.

Key Reddit conversations continually deliberate on the difficulties that come with traditional payment methods, even for betting. Bank restrictions, currency conversions, long processing times, and high fees can get in the way of you placing a simple bet.

This is why crypto betting becomes a game-changer. You can deposit Bitcoin into your betting account, place a wager, and cash out directly to your crypto wallet without waiting for banks to process payments or worrying about exchange rates.

Not all betting sites are platforms that allow crypto betting. Among the many that allow you to bet with crypto, this guide will help you narrow down your choices.

How to Choose the Best Crypto Betting Site

The following are the top attributes to look out for in a top crypto betting site:

According to research from Onfido’s Identity Fraud Report, fraudsters hit the gambling industry hard in 2023.

The average fraud rate for gambling and betting companies was 7.6 percent in 2023, up from 4.2 percent in 2022. This represents an 80 percent increase. Gambling fraud rates are also significantly higher than the average rates across other industries, and the normalized average rate of 4.4 percent.

The report, which surveyed over 15,000 consumers across 11 countries, also revealed that fraud attempts have increased across all industry sectors in 2023.

However, despite the increase in attempts, the success rate of fraud decreased in 2023, except for the gambling industry, where the success rate remained the same as the previous year.

The research findings showed that fraudsters were more likely to target older generations, with those aged 65 and above reporting the highest rates of attempted financial fraud.

In addition, the report found that women were more likely than men to be targeted by fraudsters, and that those living in smaller towns or villages were more likely to be victims of identity theft.

“The past year has seen a substantial shift in the anti-financial crime landscape, with fraud attempts increasing across all industry sectors and age groups,” said Ben Factor, chief revenue officer at Onfido.

“Our research highlights the urgent need for businesses to adopt robust identity verification solutions that can effectively protect both their bottom line and their customers from the devastating impact of financial fraud.”

As a leading provider of identity verification solutions, Onfido is committed to helping businesses create a safer and more trusted online environment.

The company’s solutions are used by some of the world’s largest and most respected brands to verify the identity of billions of users each year.

“We are focused on delivering identity verification solutions that are both seamless and secure, and that can be rapidly deployed to meet the evolving needs of our customers,” said Factor.

“We are also dedicated to using our technology to promote financial inclusion and provide equal access to essential services.”

Onfido’s research is based on a survey of 15,300 consumers in 11 countries: Australia, Canada, France, Germany, Italy, Japan, Portugal, Spain, Sweden, the UK, and the U.S. The survey was carried out in Q4 2023.

The company’s Identity Fraud Report provides a comprehensive overview of the current state of financial fraud and its impact on consumers.

The report also includes an analysis of the different types of financial fraud, the methods used