Dogecoin started off as a joke in December 2013 but is one of the biggest cryptocurrencies in the world, which hit more than $2 billion in market capitalisation in January 2018. While Dogecoin is now being hyped on the social media and cryptocurrency community as ‘the trump card for the underdogs’, it has been one of the preferred coins for online gambling for a while now.
Today, we discuss the two most reliable sportsbooks punters can trust with their Dogecoin while staking on their favourite sporting events. These sportsbooks were tested and evaluated through a series of extensive research on their user interface, payouts, sports, promotions, reputation, customer service, and — of course — their overall merit to sports bettors.
Safe 2018 Dogecoin Online Sportsbooks
The name of this website alone tells a lot about its primary service as a bookmaker. And BookMaker.eu — after years of reputable experience — is doing well in this field. From live betting to traditional sports betting, BM offers all types of bets on a number of sports including soccer, basketball, baseball, and tennis.
In addition to sports betting, BM has an excellent racebook (with 12 sports venues for thoroughbred horse racing) and a casino (with many varieties of Video Poker, Slots, Roulette, and Blackjack). Pertaining promotional offers, each new BookMaker.eu user gets up to $600 in form of a 15 percent cash first deposit bonus and up to $1,000 from a 50 percent casino bonus.
Even though the precise date is undisclosed, BookMaker.eu has been processing deposits and withdrawals via the Dogecoin cryptocurrency for some time now. Of course, Bitcoin was the first virtual currency to be introduced — but since then, BM has added more than 60 big and small virtual currencies to its arsenal.
Apart from virtual currencies, sports bettors can also deposit and/or withdraw via bank transfers (BankWire and Bank Draft), credit/debit cards (VISA, MasterCard, and American Express), e-wallets (Neteller and ecoPayz), and Person-to-Person Transaction.
2.) 1xBit.com (and 1xCrypto.com)
1xBit.com has been one of the dominant online sportsbooks around for an impressive number of years. Its payment catalogue lists roughly 20 cryptocurrencies — and, of course, including Dogecoin. All deposits and withdrawals are handled swiftly and, more interestingly, at $0.00. 1XBit does not accept players from the US, which is a drawback for the majority of its potential sports bettors.
1xBit.com runs two user-friendly websites which are accessible on mobile (1xBit.com) and desktop (1xCrypto.com) devices. On either website, the sportsbook offers live betting, betting exchange, and traditional betting on virtually every sport. These include widespread sports (such as football/soccer, basketball, and tennis) and lesser-known sports (such as surfing, hurling, and Speedway).
Additionally, 1xBit.com offers all sorts of betting alongside sports betting; users can bet on casino games (a wide variety of slots, roulette, blackjack, video poker, poker, etc.), betting pools, TV games, cockfights, lotteries, hunting and fishing games, the Toto, even Forex and financials, and special 1xBit.com games, lotteries, and tournaments.
As a newcomer, the sportsbook welcomes you with a 200 percent first deposit bonus worth up to 1 BTC (about 1,625.00 DOGE, according to Currencio). And after that, you can feast on a ton of rewards, bonuses, bonus games, cash-backs, and other promotions provided by the website.
Keep in mind: 1xBit.com is a cryptocurrency-only gambling website, which means fiat currencies are not processed for deposits or withdrawals.
Speed of Dogecoin Deposits and Withdrawals
While a single block of Bitcoin is processed and confirmed every 10 minutes, processing and confirming a solo Dogecoin block takes one minute. This means Dogecoin is 10 times faster than the almighty Bitcoin.
On the technical side, this is not the same as the transaction per second (tx/sec or tps) maximum capability. Using this general formula: B/L*T (where B is the limit of block size, L is the lowest transaction size possible, and T is the block time per seconds), Dogecoin’s tx/sec is theoretically 33.
Compared to other cryptocurrencies, Dogecoun is slower than Ripple, Iota, and Neo. Yet, it is faster than Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Dash, and Monero.
Concurrently, Dogecoin is significantly slower than VISA. According to Bitcoin Wiki, VISA’s average tx/sec is 2,000. That is the average; however, VISA can reach as high as 56,000 transactions in just one second (though it has never reached more than 19,000 tx/sec even during those crazy shopping bouts). PayPal, on the other hand, handled 115 tx/sec in 2014, 196 tx/sec in 2016, and 450 tx/sec on November 30, 2015 (Cyber Monday).
Considering VISA and PayPal, we can all agree traditional payment methods are still faster than cryptocurrencies — except a handful like Neo, which can process a maximum of 10,000 transactions per second. Nonetheless, sports bettors still prefer virtual currencies mainly because of their decentralisation, anonymity, and no to little cost.
And pertaining the fees, Dogecoin originally debuted with a no-fee policy but now uses one of the lowest fee policies in the entire financial world — both virtual and fiat. According to cryptocurrencies block reader SoChain, the fee rate is approximately 1.1 DOGE. This figure equals to roughly US$0.006, according to CoinMarketCap.
There you have it: outrageously low fees, faster processing and confirmation time, and an impressive transaction per second rate.
Rise of Dogecoin as a Payment Method
Whatever introduced and increased Dogecoin’s acceptance in the online gambling world is anybody’s guess. There is an impressive number of Dogecoin gambling websites around — but for sportsbooks particularly, there is a handful of Dogecoin sportsbooks. Presently, most sportsbooks that accepted Dogecoin prior to 2018 either have their website technically down or completely defunct.
The market is so small we could only list two sportsbooks because they are the reputable ones we could find. Others are either too young or have nothing to show for their claims. In addition, popular Bitcoin gambling website Betcoin.ag has a page in which the unavailability of Dogecoin is discussed; the reason points to the pseudo-fame of Dogecoin.
As of April 2018, Dogecoin is ranked 23rd and 38th on top cryptocurrency data source websites CoinGecko and CoinMarketCap respectively. While the rank is not totally impaired, it is safe to say most gambling websites — and even users — trust the top 10 coins, to say the least.
Nonetheless, Dogecoin might not be as celebrated or accepted as Bitcoin, Litecoin, or Ethereum in the online gambling world, but it sure is a contender for the king of the underdog coins. The figure is not as promising as Dogecoiners would prefer but since cryptocurrencies can spike or plummet in a jiffy, Dogecoin could be the king tomorrow — and equally, it could be down in the last 100s in mere weeks.
Furthermore, Bitcoin awaits a number of forks in 2018 as said by famed Dogecoin’s creator, Jackson Palmer. He added that the “cryptocurrencies, crypto-assets and tokens” market is getting bigger and oversaturated. Therefore, more and more forks will emerge and with each fork, previous coins are gradually diminishing. According to him, Dogecoin will also get forked and the future of the coin is as uncertain as any other apportioned ledger’s.
Volume of Dogecoin Online Sportsbook
As expected, Dogecoin is nowhere near Bitcoin — from the market cap, price, volume, and supply to the market share. In fact, no other cryptocurrency can compete with Bitcoin, especially for gambling on the Internet. Currently, there are hundreds of gambling websites (casinos, poker sites, sportsbooks, slots, racebooks, etc.) which accept Bitcoin.
On the other hand, gambling websites which accept Dogecoin are insufficient. For one, AskGamblers lists only 12 Dogecoin casinos while Bitcoin casinos are numbered 81. Interestingly, Ethereum online casinos and Litecoin casinos are seven and 14 respectively.
This means Dogecoin is still one of the top cryptocurrencies for online gambling — others being Bitcoin, of course, alongside Ethereum, Litecoin, Bitcoin Cash, Dash, Monero, Zcash, Iota, and Ripple. Each of these cryptocurrencies has respective niches of their own. For Dogecoin, it is quite popular for casinos than sportsbooks and other gambling options. Bitcoin is the overall king.
Moving on, there are also Dogecoin-only gambling websites; these are websites that process Dogecoin deposits and withdrawals exclusively. (Even though presently obsolete, DogeBetz was a prime example of Dogecoin-only sportsbooks.) And despite the fact that there is a dearth of Dogecoin-only gambling websites, this notion tells how considerably popular Dogecoin is in the online gambling sphere.
The conclusion is quite apparent: Dogecoin is a good alternative to most top coins and in the world of online gambling, players can relish everything they relish with Bitcoin, Ethereum, or Litecoin with Dogecoin. From peer-to-peer mechanism and open-source to anonymity, decentralisation, and transnational system.
Lastly, there is a number of Dogecoin sportsbooks out there, but the two anterior services are the best, based on our research.
Accessibility of Dogecoin
Of course, Dogecoin is not as accessible as those coins in the top 10 or even the top 20. Bitcoin, for one, is available practically everywhere. There are tons of exchanges, wallets, and BTMs (Bitcoin ATMs) which players can use to exchange BTC to fiat currencies (such as USD, EUR, and GBP) and/or other virtual currencies (especially ETH, LTC, and BCH) — and vice versa.
On the other hand, Dogecoin is still semi-popular, so exchanges and wallets are not as numerous; for ATMs, there is no such thing as a Dogecoin ATM. One factor that makes Dogecoin easy to buy is its USD equivalent; you would need around 200 DOGE for 1 USD.
Dogecoin.info is the official Dogecoin blockchain explorer where every single transaction is publicly disclosed. In addition to its primary function, Dogecoin.info also offers a secured, easy-to-use wallet service to interested users. Wallet options range from paper wallets to online and mobile wallets.
Apart from Dogecoin.info, Bittrex, Upbit, Gate.io, Poloniex, Kraken, HitBTC, and dozens of other websites also exchange DOGE to and from other virtual currencies and fiat currencies. And buying or selling Dogecoin in the United States and similar countries is actually simple and quite identical to trading Bitcoin.
Legality of Dogecoin
The laws governing Dogecoin depend on the laws of digital currency in general. In diverse nations and territories throughout the world, digital currency is mostly legal (authorised and permitted by law) or alegal (unregulated by law, so crypto users are not persecuted).
In the United States, legality range from one state to the other. The US Commodity Futures Trading Commission generally regulates virtual currencies as commodities while the US Securities and Exchange Commission treats virtual currencies as securities. There are other agencies which treat virtual currencies according to what they deem fit.
he fact is, virtual currencies are neither generally legal or illegal in the United States. This is because there is an enormous amount of cryptocurrency scams in the country, which make the authorities always reluctant to pass a definite ruling.
For one, the US Financial Crimes Enforcement Network, the US Government Accountability Office, and the US Securities and Exchange Commission individually handles cryptocurrency scams as traditional money scams. They also beg for proper, complete legislations especially because of its anonymity or pseudonymity. This makes it strenuous and tedious for the government agencies to detect laundering and any other crimes associated with virtual currencies.
Meanwhile, the authorities of a player’s residing state play an important role, even more important than the Federal Government of the United States. According to Bitcoin Market Journal, 33 States have no ruling on the regulation of cryptocurrencies, five States are crypto-friendly, while others are either murky or hostile towards virtual currencies. This report was last updated in August 2017; therefore, players are required to know the facts before buying, selling, trading, or betting with Dogecoin.