Categories: Entertainment

Why You Should Bet On Sports With Cryptocurrency

Since 2018 over 30 states have legalized sports betting and that has given millions of people the chance to gamble for the first time. There have also been two other factors that have helped online sportsbooks attract new customers in that period. The use of apps and the acceptance of cryptocurrency.

Most good online bookmakers offer sports betting apps to download these days. With so much of our lives conducted on mobile devices, it seems only natural that betting on sports is done this way. But the rise of crypto in the mainstream has revolutionized gambling all over again. But why should you consider betting with Bitcoin?

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Security And Privacy

One of the major attractions of using digital currencies for any kind of online transaction is the anonymity and privacy of the deal. That is just as important – if not more so – for sports betting. Many gamblers may not want people to know what they are doing, or just require a little privacy.

But the security issue is equally important. Blockchain technology means that the transaction is safe but there is an argument that using cryptocurrency when betting saves any risk of fraud. There is obviously a lot of personal information exchanged using traditional payment methods – and crypto avoids that risk.

Bigger Limits And Bonuses

Digital currencies are relatively new in the world of online sports betting. The betting firms are keen to get as many people as possible using them as a payment method because the lack of fees means bigger profits. Offering attractive bonuses is a major way that sportsbooks build up customer bases.

To make sure that these new customer account holders start using cryptocurrencies for their betting, there is a good chance that a bigger bonus will be offered than for people depositing with fiat currencies. Bigger betting limits can do the same kind of work as well.

Investment Angle

One criticism of using cryptocurrencies is that they can be volatile. But that only means that the value goes up and down. That means that the crypto sitting in your betting account wallet can actually increase in value without you placing a bet. That is not something that will happen with a traditional currency.

It used to be the fact that your funds would sit in your account stagnating as you decided on your next wager. Now the value of your Bitcoin could increase depending on market trends. This is obviously not a major reason to use digital currencies – but it is a pretty good benefit all the same.

More Apps Accept Crypto

We mentioned before that more and more sportsbooks are accepting cryptocurrencies as payment methods these days. That also means that there are more betting apps where you can use a whole range of different currencies – and that has to be good.

If there are more betting apps available, it means that there are more options for your sports betting. That is not just that you have more of a choice of where to bet, but you can sign up with more sportsbooks and compare odds to make sure you are getting the best odds possible.

Everything Is Faster

Our final benefit of using cryptocurrencies to bet on sports is that just about everything is faster – and that is especially true if you are electing to use a mobile app for your betting. Using an app is usually faster than using the traditional desktop version of a betting site.

But you will also be able to make faster transactions. This is important if you are looking to bet on the live markets. Response time is key here and apps and crypto ensure you get the odds you want. It seems as though crypto is going to play a big part in the future of sports betting – so you really should be getting involved now.

Disclaimer: Never play for more than you can afford to lose. Gambling can lead to a serious addiction. Gamble responsibly.