What “crypto sports betting” actually means
Crypto sports betting can refer to licensed sportsbooks that directly accept cryptocurrencies for deposits and withdrawals, or to sites that convert crypto via intermediaries. Licensed regulators typically treat crypto as a “cash equivalent” or “virtual asset” subject to strict AML/KYC rules. Unlicensed sites may accept crypto without robust checks, which often breaches local law.
Quick answer
Some licensed markets allow operators to accept crypto if they meet AML/KYC controls (for example the UK, Malta, Isle of Man, and Wyoming in the U.S.). Others explicitly restrict or ban crypto payments for betting (including Australia, Brazil, and Ontario in Canada). Many European markets permit only locally licensed operators and have taken action against unlicensed “crypto casinos/sportsbooks.” Always verify the operator on your regulator’s public register.
Countries and states that currently allow licensed operators to take crypto (subject to approval)
United Kingdom
The UK Gambling Commission treats cryptocurrency as a “cash equivalent.” Licensees may accept it only with enhanced due diligence, source-of-funds checks, and transaction monitoring under AML rules. In practice, acceptance is at the operator’s discretion and requires robust controls.
Malta
Malta’s regulator replaced its DLT “sandbox” with a formal policy in January 2023. Under the Policy on the Use of Distributed Ledger Technology, MGA-licensed operators may use Virtual Financial Assets (including crypto) if the regulator pre-approves and the operator meets stringent AML/KYC and technical standards.
Isle of Man
The Isle of Man Gambling Supervision Commission recognises “virtual currencies” as having “money’s worth,” permitting their use by licence holders subject to AML controls laid out in the Commission’s practice note.
United States (Wyoming)
Wyoming expressly allows sportsbooks to accept cryptocurrency so long as it can be converted to fiat; Wyoming was first to do this when launching online sports betting in 2021. Most other regulated U.S. states do not permit crypto deposits at licensed books.
Jurisdictions where crypto payments are restricted or banned for betting
Australia
Since June 11, 2024, Australian online and telephone wagering operators are prohibited from accepting “digital currency” for bets or deposits. This sits alongside the Interactive Gambling Act’s broader restrictions on in-play betting and unlicensed services.
Brazil
Brazil’s 2024 payment ordinance for fixed-odds betting forbids deposits and payouts via cryptocurrency; transactions must occur through accounts at institutions authorised by the Central Bank. Multiple legal and industry summaries note that crypto and credit cards are banned under these rules.
Canada (Ontario)
Ontario’s iGaming standards require operators to ensure funds come from approved sources; the Funds Management standard explicitly states “Cryptocurrency is not legal tender and shall not be accepted.”
European Union examples: Germany & the Netherlands
Both countries run strictly licensed markets. Regulators maintain public whitelists of legal operators and have repeatedly sanctioned unlicensed crypto-facing sites. Licensed operators typically take euro via approved payment providers; crypto deposits are not part of the licensed offering.
Singapore
Only licensed or exempt operators can offer gambling under the Gambling Control Act. Authorities can order access and payment blocking for illegal remote gambling, and official risk assessments flag virtual assets in connection with illegal online gambling. Licensed remote betting is tightly controlled and does not support crypto payments.
China
Online gambling is illegal, and financial authorities prohibit overseas virtual-currency exchanges from serving residents. Combining these rules means legal betting with Bitcoin is not available.
The United States at a glance
Sports betting legality is state-by-state. As of 2025, Wyoming explicitly allows crypto; most other regulated states either are silent or effectively restrict sportsbooks to fiat rails and approved payment processors. Industry/legal analyses continue to cite Wyoming as the standout exception. Always check your state regulator’s rules and the operator’s banking methods.
How to verify legality before you bet
- Find the regulator’s public register and confirm the operator is licensed for sports betting in your location. Examples:
• UK: licence status via the Gambling Commission.
• Germany: GGL whitelist of permitted operators.
• Netherlands: Kansspelautoriteit “Kansspelwijzer” legal-operator checker.
• Australia: ACMA register of licensed interactive wagering providers and guidance.
• Ontario (Canada): AGCO/iGaming Ontario standards and licensee lists. - Check whether crypto is an approved payment method for that jurisdiction. If rules forbid it (for example, Australia or Brazil), licensed sites will not accept it.
- Confirm KYC requirements and read the operator’s AML policy. Regulated markets require identity verification even when crypto is used.
Player checklist for compliant crypto betting
• Use only locally licensed sportsbooks and payment methods permitted in your country or state.
• Expect full KYC, source-of-funds checks, and transaction monitoring when using crypto.
• Avoid unlicensed “crypto sportsbooks,” even if they accept your coins; regulators have actively targeted such sites.
• Track tax obligations on winnings and crypto disposals in your jurisdiction.
• Set limits and use responsible-gambling tools; crypto’s volatility adds risk.
Frequently asked questions
Do licensed sportsbooks accept stablecoins like USDT or USDC?
It depends on the regulator and the operator. Some jurisdictions that allow crypto under AML controls leave the specific coin choice to the operator’s risk assessment and regulator approval. Where crypto is banned for betting (for example, Australia, Brazil, Ontario), stablecoins are also prohibited.
Can I use a VPN to access a crypto sportsbook from a restricted country?
Circumventing geo-blocks to gamble where it’s illegal can violate local law and the site’s terms. Regulators also order access and payment blocking for illegal gambling. Do not attempt to bypass these controls.
Why do many “crypto sportsbooks” operate without local licences?
Some operators base themselves offshore and accept crypto to avoid domestic payment and KYC rules, but many regulators actively sanction such sites and their affiliates. Using them can forfeit consumer protections.
Recap by market (concise)
Allowed with regulatory approval and AML/KYC: United Kingdom, Malta, Isle of Man, Wyoming (USA).
Explicitly restricted/banned for betting payments: Australia, Brazil, Ontario (Canada).
Licensed-only markets with actions against unlicensed crypto sites: Germany, Netherlands, plus payment or access blocks for illegal remote gambling (e.g., Singapore).
If you want, tell me the country you’re targeting and I’ll tailor a local-first compliance checklist and link you to the exact licence registers you should bookmark.
