9 Advantages of Bitcoin Sports Betting

Bitcoin, Cryptocurrency, Blockchain. 

There is no way you aren’t familiar with these terms by now. Even if you are not entirely sure about all its little details, we are confident you have heard them and talked about them multiple times. 

Moreover, if you are a gambler and sports betting is a hobby of yours, we are even more sure you are by now familiar with cryptocurrency terminology. Again, you don’t really have to understand the most technical aspects of it, but you are aware of the power cryptocurrency has gained in recent years, especially in the digital world. 

The rise of cryptocurrency has sparked immense curiosity and it has started to unlock the immense potential of using Bitcoin in various ways. The world of online betting is no different and online betting platforms were quite fast adapting to this trend.  The world of technology is rapidly changing and the adoption of cryptocurrencies is becoming more and more apparent. Although the application of blockchain technology is still in its infancy, using it as a fast, secure and anonymous payment solution is already mainstream. 

If you don’t understand why bitcoin and online sports betting are related at all, this article is about to blow your mind because we will tell you all about the 9 advantages of Bitcoin Sports Betting. 

Before we start, let's take a quick look at what Bitcoin is precisely: 

Bitcoin uses peer-to-peer technology to operate without central authority or banks; the management of transactions and the issuance of bitcoins is carried out collectively by the network. Bitcoin is open source; its design is public, no one owns or controls Bitcoin and everyone can use it.

Have you seen how it can be used for online gambling?

Keep reading to find out more.

 

• Three magic words: Safety, Trust and Security 

Feeling safe and secure is important at every time but these words have a special importance when we are talking about the digital world and when we are talking about our dear money.  

For your peace of mind, when working with cryptocurrency, the operations of depositing and withdrawing money are carried out with absolute serenity. In fact, you don’t need to fear that your bank details will fall into the wrong hands, as they will not even be required from you to make a deposit or withdrawal. Moreover, your winnings will be sent to an e-wallet which, in itself, is protected with advanced technology. 

 

• Here comes another magic word: Privacy! 

Privacy is essential, we know that! 

One of the main advantages of using Bitcoin to bet on your favorite sport is that the user remains anonymous. While before bitcoin, registration and signing up used to mean providing some personal information, after Bitcoin there are no more bank details and other sensitive information being passed on. Not even your name!! 

Anonymity being the spearhead of Bitcoin bookmakers, they will save you a lot of trouble when registering. Creating a player account is therefore usually done in two steps and three moves. 

Enjoy that extra privacy with your money and use it however you feel! 

 

• Enjoy deposits and withdraws at the speed of light  

Let’s be real… Is there anything more annoying than having a big win then having to deal with so much bureaucracy to withdraw your earned money? 

Once you are familiar with sending and receiving Bitcoin, old-fashioned wire transfers will become a thing of the past. No more waiting and waiting for bank approval and all the other boring bureaucracy that is going on behind the scenes.  

Why is that?

Because a typical Visa or MasterCard transaction goes through several middlemen before it finally ends up where it needs to be. 

This is not the case with Bitcoin, which can be deposited and withdrawn in a matter of minutes. 

 

• Brace yourself for a wider range of bet types and…. BETTER ODDS! 

That’s right… Changing your payment method to Bitcoin will give you several advantages, including being able to do bets you weren’t able to do before.  

How come? 

Because certain bets are restricted in certain countries. However, with bitcoin there are no geolocation restrictions, which means you will have full access to all betting possibilities, regardless of the location you are betting from.  

And now let’s continue with more of the good stuff we know you will like to hear: 

In most cases, sports games websites that offer bitcoin as a payment method have higher odds than ordinary sportsbooks. So, to optimize your earnings, nothing better than choosing to bet with operators that allow you to bet with Bitcoin. 

Moreover, in addition to greater chances, they also enable lesser stakes to attract as many participants as possible, especially at the outset. 

 

• Think about the future! 

Winning money because you made a winning bet is great. But you know what is even better? 

Making money without even realizing it! 

How? 

Using Bitcoin for your sports bets has so many advantages, including the possibility of investment.  

Because unlike other methods, Bitcoin can also be seen as an investment. This is because this cryptocurrency can have a large variation in price at certain times in the economy. 

In this way, by making a low deposit and then withdrawing high you can have an even greater profit than what you have already made with the guesses inside the sports betting houses. 

Can’t get any better than this… 

 

• Say goodbye to all inconvenient third-parties 

The Bitcoin paying system is completely different from previous payment methods. For starters, it does not rely on any third-party besides the two entities between each the transaction is occurring. 

It is a peer-to-peer payment system, which means that everyone can send and receive payments to or from anyone, regardless of things such as location, bank or credit card. 

The big advantage about this decentralized system is that the parties to a transaction do not require approval from an external source or authority.

And you know what else happens when you take centralized authority? 

Both the casino and the customer will benefit from it. Find out how in the next paragraph. 

 

• No banks = No transaction fees 

This must be one of the biggest advantages of using bitcoin in sports betting. Forget about exchange rates, forget about transaction fees and forget about ridiculously high fees for international payments.  

It is considered normal among gamblers that they have to add to their expenses the transaction fees that are involved with gambling. Gamblers may have normalized this idea… But what if we tell you that it is possible to keep gambling while getting rid of all the fees. 

All those mentioned fees are a reality of those using traditional payment methods. But not a reality anymore for those who have made the switch to Bitcoin.   

Since Bitcoin transactions have no intermediary institutions or government involvement, the costs of transacting are generally lower compared to those for bank transfers. 

Will you stay in the side that still pays high and unnecessary fees, or will you modernize your payment method, while saving up some cash? 

 

• The bonuses are more generous than ever 

It is well known that Bitcoin sports betting sites are the most generous when it comes to giving out bonuses and special promotions. With crypto bookmakers, you will be entitled to almost unbelievable financial benefits.  

Bonuses are like the cherry on top of the cake. They can make betting much more fun and even more affordable. Bonuses can come in many different shapes or forms, such as welcome bonus, referral bonus, etc… But now, you need to watch out for other types of bonuses exclusive for those who gamble using bitcoins. 

Basically, you are getting rewarded only for using Bitcoin over traditional payment methods. How brilliant is that? 

 

• The betting and winning limits are higher than ever before 

The frustrating limits on the amount of betting imposed by regular sports bookmakers are a massive inconvenience for players who want to go big or go home. 

If you are a heavy player, here is one more reason to start betting with Bitcoin: very high limits for deposits, winnings and withdrawals. 

With Bitcoin, you are finally able to make big deposits and collect even bigger winnings! 

What are you waiting for?