Bitcoin and Online Betting
Sports Betting Explained
Are you a sports betting fanatic and you are not aware that online sportsbooks are beginning to use the renowned Cryptocurrency, bitcoin in recent times? Then you need to read this article.
Fortunately, I will share with you everything you need to know about bitcoin and how it is beneficial for online sports bettors. That said, it will interest you to know that the vast majority of sportsbooks now supports Bitcoin and there is even high tendency that all the online sportsbooks will soon integrate the leading cryptocurrency into their system.
Just like any other thing, there are numerous merits and demerits associated with using bitcoin sportsbooks and this is what we shall be discussing next. But before going into that, it is worthy to note that 1 Bitcoin is presently valued at five thousand, five hundred and eighty seven dollars ($12,617). If you'd like to know the value of bitcoin in any other nation's currency you can check it out on google.
- Date Established: 2014
- Location: Costa Rica
- Software: Digital Gaming Solutions
- US Customers: YES
- Date Established: 2001
- Licensed: Government of Panama
- Software Provider: ASI
- US Customers: YES
Merits of Using BitCoin in Online Sportsbooks
One of the key benefits of using bitcoin in online sportsbooks is that little or no charges will be incurred on all the transactions you make. Apart from the fact that bitcoin saves you more money, it is also better than credit card or other payment options when it comes to security. This is because none of your personal details will be required throughout your transaction process; your chosen online sportsbook or bitcoin casino will deal with only your transaction code.
Additionally, using bitcoin for online sportsbooks is very swift than most of the traditional currency methods. What this simply means is that using bitcoin will help save more time which you can re-channel to some other productive activities.
That said, it will interest you to know that converting bitcoins into traditional currencies is very quick and easy than you could ever imagine if you make some winning wagers.
Another strong point of using bitcoin in online sportsbooks is that it offers optimum anonymity for the players. Remember it is better to be safe than sorry; embracing bitcoin could be a wise decision for you, especially now that we have a widespread of cybercriminals hunting for valuable details and data to steal online.
Demerits of Using BitCoin in Online Sportsbooks
Using bitcoin when betting sports online is accompanied with minimal risks. The major downside of this cryptocurrency is that it fluctuates almost every time and this is due to the fact it is still a new technology. For instance, the value of bitcoin may be pegged at $1,000 in January, 2019 and may reduce by a significant margin in that same month. Profits and losses here are based on uncertainty.
Another demerit of using bitcoins that certain online sports bettors may not be pleased with is that it is quite new and its volatile nature can affect their earnings either positively or negatively.
Perhaps you are inspired by this writeup and you'd like to give bitcoin a try in your desired online sportsbooks, it is imperative you read more about the cryptocurrency so as to understand how it works and how you can maximize your earnings.