Can I Use Bitcoin to Bet Sports Online From California?
Bitcoin has become the most popular method of funding one's online sports betting account as well as receiving payments, often within minutes and even on Sundays.
Sportsbooks like Skybook have been accessible from the state of California since 1997. The beloved gambling company began utilizing Bitcoin nearly a decade ago and has never looked back.
Making a Deposit With Bitcoin at Skybook
Skybook's Bitcoin deposit method is as follows:
- Min: 200 USD
- Max per transfer: 5,000 USD
*The Bitcoin payment address should contain no prior transaction. We always refresh and use a new Bitcoin address whenever sending or receiving the cryptocurrency. Important: Always transfer funds between a sportsbook and wallet. Never transfer funds directly with the cryptocurrency exchange. Use of a personal cryptocurrency wallet guarantees anonymity. The crypto addresses obtained through exchanges are NOT anonymous.
Requesting a Payout at Skybook Using Bitcoin
Skybook's withdrawal (payout) method for Bitcoin is as follows:
You can place your withdrawal request in the cashier, just make sure to use a new Bitcoin address when requesting payout. It takes 2 to 3 business days to process and no fee.
- Min: 100 USD
- Max: 4000 USD every 7 days
Bitcoin's Status in California
In 2014, then California Governor Jerry Brown signed AB 129 into law, legalizing “various forms of alternative currency such as digital currency” to be used for the purchase of goods and transacting payments. This revised Section 107 of California’s Corporations Code which prohibited the use of “anything but the lawful money of the United States” to be traded or redeemed for goods and services.
Monitor Potential Issues With Bitcoin Serving Companies
California's Department of Financial Protection & Innovation is currently investigating the following companies with cryptocurrency ties: FTX, BlockFi and Salt Lending LLC. The DFPI also took action against Celsius, Voyager, and Nexo.
It is for this reason, Gambling911.com strongly advises its California readers to stick with tried and true companies. Even the big name exchanges, we recommend moving most of your crypto assets out immediately and into your FDIC insured bank accounts.
Bitcoin Exchanges Available in California
Gemini, CoinBase, Binance and eToro are well known cryptocurrency exchanges that can be used from the state of California. You will use the exchange between your bank/credit card and crypto wallet. Once again, never use the exchange directly with Skybook, as tempting as this may be. Most exchanges prohibit their allocated Bitcoin addresses to be used for gambling purposes.
