Cryptocurrency The Most Popular Option For Sports Betting

Sports Betting With Crypto

Sports Betting With Crypto

Cryptocurrency, mining, and Bitcoin are some of the most searched terms on the internet today. Cryptocurrency is arguably the most searched term in the banking system. So popular that cryptocurrency-based coins such as bitcoins and altcoins are making a significant impact on the sports betting domain. A recent social survey showed that almost half of 21-year-old Americans have wagered on sporting bets once or more. Below, we take you through ways you can use to place sports bets. 

Blockchain Casinos

Starter Kit

If you have a few Bitcoin to your name and wish to wager on your favorite sports team, you must know where to start. You also need to answer yourself whether you trust cryptocurrency, and how you will get your winnings. 

First, you will need to get a stable cryptocurrency. You can either go for bitcoins or altcoins. To do so, you need to land a reputable website that will fulfill your needs. Fortunately for you, we have analyzed reliable and well-respected sports betting platforms you can check out. 

Try your hand on; YOUnited Social Betting, or Wagerr platforms. We can tell you for sure that these websites have superb reward systems, high stakes options, quality customer support, and generous bonus programs. As you explore your options with different kinds of cryptocurrencies, have it in mind that all web sportsbooks accept Bitcoin. For your information, web sportsbook functions just like a sports betting site. 

Why Opt For A Web Sportsbook?

It’s Affordable: having low prices in sports betting doesn’t mean that betting in itself is cheap. You will lose significant amounts if you ignore logic and common sense and wager on a team based on emotions as opposed to following statistics. Remember, you have to pay transactional fees and other than paying expensive banking fees. Most punters prefer using cryptocurrencies that charge relatively small transactional fees. 

The Chequing system is the most popular way of withdrawing funds when it comes to sports betting. The chequing system is legit, expensive, but still fashionable. So for players not ready to pay upwards of $50 for transactions, they prefer using cryptocurrencies. 

Cryptocurrencies are fast: when you win at a sports betting site, you get your funds transferred to you ASAP if you use cryptocurrencies. However, the same is different from fiat currencies. It takes a while for fiat currencies to get processed, and this is frustrating to many gamers. Cryptocurrencies, on the other hand, take a couple of seconds or minutes to get loaded. You can now see why most gamblers prefer this method. 

Besides, cryptocurrency withdrawals never go beyond 48hrs regardless of whether it’s a weekday or weekend. You can get your bitcoins and altcoins instantly since they are not connected to any banking institution. 

Anonymity: Sports betting encourages anonymity as casinos and sportsbooks are not keen about gathering sensitive information concerning their customers. Cryptocurrencies only require minimum information concerning the receiver of the transaction. With such anonymity, users’ funds are protected, and there are minimal fraudulent cases. ESBC Betting Platform is by far the most advanced blockchain version.

So What’s The Catch?

Just like everything else, there are ups and downs when it comes to sports betting cryptocurrencies. The low sides include the volatility of the prices, and it becomes impossible to predict cryptocurrencies. You’re never sure of what you’ll get as a result, but don’t be scared off; it merely means that you should calculate every move you make to gain stability. Again, the biggest problem with cryptocurrency is the fears and concerns raised by customers.

Altcoins and Bitcoins do not have any issue. However, you can let your funds stay in your cryptocurrency wallet or if you feel the need to convert them into a fiat currency of your choice. The conversion process isn’t free, though, and you will need to cough up some fees. As for now, we are yet to get a platform that allows gamers to transfer funds for free. 

But then again, the fee required in the world of crypto finances is a mere 0.25%. The amount is quite low whence compared to banking fees that range between 10 and 20%. Some financial institutions have the audacity of charging 30%! So whenever you have second thoughts about cryptocurrency gambling, remember the ridiculous transaction fees you have to part with when using traditional banking institutions! 

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Daniel Kay is a serial entrepreneur that has been traveling the world living off cryptocurrency for the last 6 years. He has a number of crypto related gambling review platforms along with regularly offers his expert blockchain advice on support and forums. He is the founder of Blockchain Casino Games and has a passion for all things crypto.