How to Bet on the Kentucky Derby With Bitcoin

As we move into 2019, (we’re a pretty solid chunk into it actually!) you should be familiar with bitcoin by now. If you have been living under a rock for the last few years, that’s okay. We’re not here to judge you, you filthy little miscreant. You may want to think about getting on the band wagon now before the next steep hike estimated to come in the next couple of years, but that’s a matter for another article.

Here are the Kentucky Derby Promo’s for 2020 (when available)

Kentucky Derby 2020

If you’ve got any interest in using bitcoin for your deposits then check this out. Moving onward…

Sportsbooks that accept bitcoin tend to give a higher return on investment, because the betting company doesn’t need to deal with the fees and operating costs of other transaction methods, which are higher than bitcoin and less secure.

To see this fee comparison in action, take a look at the following two images.

bovada bitcoin

This is at Bovada. You can see that if I were making a deposit with bitcoin, they aren’t going to charge me any fees…

bovada visa

…whereas if I’m making a deposit with a card, they’ll charge a fee of 5.9 percent. 5.9 isn’t bad, but free is better!

How to bet on the Kentucky Derby with bitcoin

Firstly, we need to acquire some bitcoin. The easiest way is to go to an online marketplace/exchange such as:

  • Coinbase
  • Kraken
  • LocalBitcoins
  • CoinATMRadar – get your btc via an ATM

Sign up to one of these sites and purchase some bitcoin (most of these will require photo ID).

After doing that, you’ll need a wallet to store the bitcoin. I recommend Electrum, since it is lightweight, easy to use (perfect if you’re a beginner!) and offers top-notch security and privacy. Other good alternatives are GreenAddress, BreadWallet and Airbitz.

Be careful when choosing other bitcoin wallets! Some of them have a gambling restriction policy (such as Coinbase or Circle), so you can get banned from those sites for sending bitcoin to a gambling site. If you’re unsure, use one of the wallets recommended above.

For the slightly more advanced user, you can move all of your bitcoin to an offline hardware wallet. I use the Trezo One, but once again, this is the matter of another article.

Bitcoin Promotions and Bonuses

One of the greatest advantages of using bitcoin is that sign-up bonuses are size-ably larger than cash bonuses which are often a few hundred dollars. Here we’ve provided the best bonuses for you to choose from.

Get a 100% bonus on your first bitcoin deposit up to $1,000 if you use the code CRYPTO100. For example, if you deposit $500, will match your deposit penny for penny.
If you’ve already made a deposit with bitcoin you cannot use that bonus. You can however, use the code CRYPTO35 on your next deposit and any other deposit for a 35% Reload Bonus!

One last thing here, make sure you scroll on down and check out how to get a $25 Risk Free Wager!


Bovada offers a 50% welcome bonus (of up to $500), for example, if you deposit $500 you will get an extra $250. In order to claim the bonus, you must deposit using bitcoins and use the promo code: BVSBITCOIN50

Furthermore, Bovada also offers a 5% weekly rebate on exotic wagers and 3% rebate on straight wagers.


GTbets offers a 100% cash bonus on your first deposit and 50% cash bonus on the second deposit, up to a maximum of $500 for each one. This bonus totals up to a maximum of $750. They’re also offering 15% rebates on monthly losses!

GTbets is offering a special bonus to all our readers. Sign up here and use the promo code TD115 to get a 115% bonus instead of the advertised 100%.

Racebook Specific Promotions

UPDATED October 5, 2022
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