We all love the thrill of basketball, especially when you’ve placed a wager, and you see Jokic in the last second shooting from half the court. Betting turns sports into a much more exciting entertainment activity, but in the past couple of years, we’ve seen that the process has been upgraded.
We are talking about crypto betting. So, unless you’ve been living under a rock, you are probably familiar with sports betting websites where, instead of FIAT currencies like USD, EUR, you can place a bet using cryptocurrencies like Bitcoin and Ethereum.
Crypto betting comes with many advantages. Bettors have lower fees, faster transactions, and since sports betting is not available in most parts of the world, they are using crypto betting platforms to bypass restrictions.
So, it shouldn’t surprise us that the crypto sports betting industry is growing, and it is taking over basketball. Does this mean that all basketball wagering will go through the blockchain in the future?
What’s Crypto Betting All About?
We first need to analyze why crypto basketball betting is so popular. Well, instead of using your credit card or PayPal to place a bet on the Lakers covering the spread, you can use Bitcoin straight from your digital wallets.
Why? Well, the process is seamless, there are no third-party institutions involved, and the fact that crypto betting cuts out banks and traditional bookies makes it very attractive. Additionally, this is a system that operates on the blockchain, which means that people can fully trust the process, and nobody can tamper with the odds or payments.
It is a peer-to-peer, often wagering against other fans. It is also private, so you don’t have to worry about whether the bookmaker gets hacked, and your information gets leaked.
I mean, who doesn’t love the idea of skipping the middleman? This means that instead of having to wait 4-7 days to get your winnings out, you can do that in minutes.
Does this mean that this is the next big thing for basketball betting? Let’s find out more.
The Rise of Crypto Betting in Basketball
Crypto betting isn’t an imaginary thing that has been floating around. It is a popular trend in the online sports betting world that has been around for a couple of years. On top of that, we are talking about an industry that is growing like crazy.
Now, if we zoom in on crypto, we can find that the decentralized gambling market, which also includes basketball betting, has been strapped on a rocketship, and went from $1.2 billion in 2021 to $4.8 billion in 2024. That’s a 300% jump in three years.
Platforms like Evo.io have specifically dedicated segments of their website, where people can browse the basketball news and place a bet with cryptocurrencies.
Basketball also holds a huge chunk of this action. The NBA alone drives billions in bets, and it is one of the most wagered-upon sports in the United States, and we have similar trends in the rest of the world.
Why Basketball Fans Are Loving It
So, why’s crypto clicking with hoops bettors? First off, it’s fast. Traditional bookies might make you wait 1-5 days for your winnings. With crypto, payouts hit your wallet in seconds, sometimes under 10.
Then there’s the savings. Old-school sites take a 5-10% cut—called the vigorish—on every bet.
Crypto platforms? They’re down to 1-2% or less. More money stays in your pocket for that next wager on Steph Curry’s three-point over/under. Plus, it’s private—no bank statements showing your betting habits, just you and your blockchain.
Basketball’s perfect for this, too. It’s fast-paced—82 regular-season games per NBA team, plus playoffs—and crypto matches that energy with instant transactions. You can bet on a Luka Doncic triple-double, cash out, and jump into the next game without blinking.
New Betting Tricks
Crypto’s not just about speed—it’s unlocking wild new ways to bet. Smart contracts (those self-running blockchain codes) let you do live, in-game bets like never before. Want to wager on whether Jokic hits 30 points by the third quarter? Done.
Many crypto betting platforms roll out prop bets for big games—think “Will LeBron dunk first?”—and settle them automatically when the result is official. No arguing with a bookie.
Some sites, like Crypto.com, even launched prediction markets in 2025. You buy “contracts” on stuff like “Will the Warriors win the West?”—currently trading at $49 for a $100 payout if they do. It’s less like traditional betting and more like trading stock in your team’s success. Weirdly fun, right?
What’s Holding It Back?
Okay, it’s not all rainbows and slam dunks. Crypto betting’s got some growing pains. For one, it’s a regulatory mess. The U.S. Commodity Futures Trading Commission (CFTC) is still figuring out if these prediction markets are gambling or derivatives.
The UK banned crypto betting ads this year, and stateside rules are patchy. If regulators clamp down, it could stall the party.
Plus, crypto’s volatile. Bitcoin might be $85,000 when you bet, but $65,000 when you cash out—your winnings could shrink without warning. And let’s be real: not every fan knows how to set up a wallet or buy Ethereum.
So, what do you think? Is this going to be the future of basketball wagering, or will we stick to our traditional ways?
