Cryptocurrency has become a part of the fabric of society. Like sports betting, cryptocurrency has had a rapid rise courtesy of the Internet age and perhaps that is why the two items go so well together.
Sports bettors can receive a number of benefits using cryptocurrencies from free bets to odds boosts on specific sporting events to faster transactions making it ideal to deposit into a betting account.
The use of cryptocurrencies has changed multiple industries and sports betting is one that has seen significant alterations. All of which have been positive for online gamblers. Sports punters can enjoy 100% transparency and anonymity when using cryptocurrencies to deposit and withdraw funds with online sportsbooks. There are other reasons online sports gamblers are using cryptocurrency to wager on their favorite teams, leagues, and games, and that is why digital currencies are the future of online sports betting.
Deposit and withdraw money from anywhere
One of the most popular reasons individuals and not just gamblers prefer cryptocurrencies is due to the anonymity they receive when moving money. While an alternative like Bethard provides great odds and gaming experiences already, the added boost of anonymity makes for an even better time. Blockchain prevents payments from being traced, therefore, an online gambler can deposit or withdraw funds using cryptocurrency from one region while being located in another.
A large number of online sportsbooks and casinos accept bitcoin and there are land-based casinos that now accept forms of cryptocurrency as well. Not only does an online gambler have complete anonymity, but their online payments are more secure than using traditional payment methods.
Sports punters who live in countries in which betting on sports is illegal can bypass these laws by using cryptocurrencies. Since using a credit card is impossible in these countries to fund an account, digital coins make it possible to circumvent the issue.
One of the most frustrating aspects of using traditional payment methods at an online sportsbook is the time it takes to deposit and withdraw funds. Withdrawals can be especially maddening as sportsbooks take their time to make the transactions. In addition, most sportsbooks devote a specific day each week to pay out withdrawals into customers’ accounts.
Cryptocurrency allows for immediate withdrawals to be made and the digital money reaches your e-wallet in a matter of seconds and not days. Fiat currency withdrawals may also see sportsbooks take out a small fee to cover the transaction process. Cryptocurrency transactions can be made without a fee being taken out of a player’s winnings.
Is cryptocurrency sports betting right for you?
Cryptocurrency sports betting is en vogue but that doesn’t mean it is right for everyone. Before a sports bettor delves into gambling with cryptocurrencies, they need to be up to date on buying, selling, and owning cryptocurrencies. Gamblers who are not aware of the intricacies of digital currencies can find it a rude awakening after buying digital coins.
There are a number of cryptocurrencies online with new ones added each day. Potential investors in crypto need to research which coins are accepted by their preferred sportsbook. There is nothing worse than buying a full e-wallet of cryptocurrency only to find out its worthless due to the digital currency being a new and unstable creation by some entrepreneurs looking to fund a project.