You can use a betting agent with Bitcoin such as AsianConnect88, BetInAsia and others - and deposit your Bitcoin with them and withdraw via Bitcoin with them as well.
They can open for you an account with Orbit Exchange or 9Wickets which are BetFair clones!
This way you would participate, indirectly, in the real BetFair website - and would pay even smaller commissions (3% instead of 5% on the winnings).
Couple of questions:
(1) My understanding was betting agents are only really for high rollers. Is that not the case anymore?
(2) Do Orbit / 9Wickets allow BTC deposits?
(1) That's my understanding as well. Another possible problem with these agents is that they act as a middleman between you and the exchange, which stops you being able to Back and Lay in real-time. Which defeats the purpose really.
(2) No, I couldn't see any mention of BTC deposits on their websites.
After digging a little deeper, I found that:
- Orbit minimum deposit is 500 EUR (!)
- 9 Wickets don't allow API access to Betfair.. which rules out most of the useful ways to interact with an exchange at scale.
- 9 Wickets don't allow Cash Out either... strange.
More info here:
https://acc-ex.com/9wickets/