Why You Should Be Betting With Bitcoin
Figure 1 More sportsbooks accept Bitcoin these days
There may still be some confusion in the wider world about cryptocurrencies. But when it comes to sports betting, more and more customer account holders are using Bitcoin to make their selections. There are a growing number of online sportsbooks that accept cryptocurrencies – and there are plenty of good reasons why that is.
A few years ago cryptocurrencies were only known by a few tech-savvy types. But these days Bitcoin price surges are headline news and everyone seems to want to get in on the action. Knowledge is still key when it comes to using crypto though, so here are a few reasons why you might want to look into sports betting with your digital wallets.
Security and Privacy
We’re starting off with the reason why a lot of us prefer using cryptocurrencies for anything – privacy. One of the main reasons crypto is so popular is that it is unregulated and individuals have the levels of privacy they demand from their transactions.
This anonymity could be especially important for someone wishing to gamble in a location where sports betting is illegal. But that privacy can be just as important in places where gambling is part of everyday life. Knowing that you have complete control over your betting funds will be an attraction for many people.
Higher Limits
This may not be the case for every single online sportsbook, but there are definitely examples of higher deposit and withdrawal limits being available for cryptocurrency customer account holders. If you are something of a high roller there is nothing worse than playing within strict, lower limits.
If you have the funds available to bet on sports in such a grand way it makes sense that you would want to place your bets at a site that doesn’t restrict you when it comes to the size of your stake. You would also want to withdraw bigger winnings if you have been lucky.
Transaction Speeds
Speaking of depositing and withdrawing funds, there is nothing quite as infuriating for a sports bettor than having to wait to place a bet – or to collect the winnings when you have correctly predicted the result of the Super Bowl. Most deposit methods at online sportsbooks are fairly quick, but the withdrawal process can take ages due to security and banking regulations.
One excellent attraction of using cryptocurrencies for your sports betting is that the transaction speeds will be much faster on the whole. Once you have the bitcoin in your wallet you can quickly deposit and use it at a sportsbook. Withdrawals are even better thanks to the much quicker turnaround.
Figure 2 Relaxed regulations have meant an increase in online betting
Bigger Bonuses
If you are a relative newcomer to online sports betting you may not realize just how many promotions and bonuses are offered by sportsbooks all the time. You might have just claimed your welcome bonus for signing up with a new betting site, but there is plenty more where that came from.
If you are convinced to bet with cryptocurrencies you should also be on the look out for exclusive bonuses. Some sites will offer even more for crypto users – and you may find that you will receive bigger rewards simply by being a bitcoin bettor.
Less Risk
If you are used to buying and selling using cryptocurrencies you will probably already know about the lower risks connected to digital wallets. But sports betting takes that to a whole new level. Most sportsbooks will automatically convert your bitcoin to US dollars.
That means that, even though you are using a cryptocurrency to bet with, you are instantly shielded from any of the price volatility that can be associated with digital funds. You won’t have to worry about that at all – and when you come to withdraw your winnings your USD will be converted back to crypto again.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.
