Online sportsbooks have skyrocketed in popularity in recent years with Bitcoin as the main betting cryptocurrency. Sports fans all over the globe can now make wagers on the outcomes of their favorite teams’ matches in a couple of clicks, which is super-convenient. As of today, the multitude of blockchain sports betting sites is stunningly huge. They offer an array of wagering opportunities, from the number of sporting events to the number of lines and spreads available on the sites. BTC-based sportsbooks are steadily substituting the fiat money-related ones due to the numerous upsides Bitcoin has over the paper money. Whether you are a passionate sports bettor or seeking to get involved, blockchain-based sportsbooks are surely a way to go.
What does blockchain sports betting mean?
As you know, Bitcoin is the first-ever crypto coin, the demand for which has been growing obstinately during the recent years. The actual market cap of BTC today is reportedly around billions of dollars. What’s point anyway, you ask? Well, the Bitcoin industry experts estimate that almost half of the financial transactions with these encrypted funds are gambling-related. Basically, sports betting activities are associated with gambling, that’s why blockchain sportsbooks are of huge interest to us.
Top-notch peculiarities of BTC sportsbooks
In our pursuit of determining the most peculiar aspects of sports betting venues, we have combed through a good deal of related articles. This paragraph is literally the quintessence of everything we have learned.
1. The payments are processed on the cheap and without a hitch.
First of all, nearly every Bitcoin transaction can be carried out for free, which brings us to a conclusion that such transfers are also fast. As a rule, the biggest expense at the online gambling spots is payment processing, but that’s not the same thing with blockchain-based gambling sites. The reason behind it lays in the fact that fiat casinos need to pay their support agents who cover the depositing and withdrawing of funds, whereas Bitcoin sportsbook platforms do not have such a cost.
Unlike the regular online betting sites, the blockchain sportsbooks process withdrawal requests two times faster for a bunch of reasons. For starters, you do not have to deal either with checks or bank wires. You won’t be asked to pass any regulatory procedures, either. The reason why these sites ask you to provide a long list of documents before any withdrawals are the willingness to ensure the security of your transactions. In case of blockchain sports betting platforms, such information is not required because the money transfers are secure a priori.
2. Transactions are anonymous owing to blockchain technology.
Of course, bitcoin transactions are not 100% anonymous, but they are the best you can expect from an online money transfer. BTC transactions are literally untraceable; the only possible way to track them down is through the blockchain. Still, this process is effort-demanding; besides, it will be difficult to find out where the assets are being transmitted. Another upside of the BTC transactions is that they don’t leave any paper trails. Thanks to it, Bitcoin-based sportsbooks have a huge advantage over the fiat money betting platforms.
As mentioned previously, the fiat money based sportsbooks want you to share a lot of your personal details, including your name, age, email, address, and contact number. But that’s not all; to withdraw your winnings, you will be required to provide bank statements, utility bills, or copies of your bank cards (either credit or debit, whichever you’ve got). No need to explain that with this array of personal information shared, it will be impossible for you to stick to anonymous gambling. One more reason to switch to blockchain betting sites is that they do not impose any country restrictions, and all the sports bettors are welcomed equally.
3. The odds and bonuses are way better.
Due to the fact that the operating costs of blockchain gambling portals are less than at their fiat-currency based peers, BTC sports betting sites offer its punters more competitive odds. In fact, the entire Bitcoin gambling industry generally offers improved odds and higher bonuses in comparison with the regular sportsbooks and gambling spots.
How to choose the very best blockchain sports betting site?
If you are turned on succeeding in the business, you should select the right spot to bet on sports. For this reason, the first point to consider when picking a sportsbook is the site’s overall reputation. The more solid it is the higher are your chances to win that wager. Except for the site’s trustworthiness, consider the security of its payment process. The reputed sportsbooks highly value their clients’ satisfaction and seek to implement the last-word safety measures to ensure the transfers are smooth and secure.
Apart from that, seek for a sportsbook with the uncomplicated navigation for you to have quick access to the essential betting information. In terms of online betting, there are some vital stats and data that you are supposed to keep tabs on after your wager is made. Such information is usually updated on the site in the real-time; make sure it is on the sportsbook of your choice, as any time-lag means you are up to losing money.
Last but not least, always compare the blockchain sports betting sites before making your decision. They are tremendously different by the available promotions, amounts of deposits and withdrawals, customer support, etc. Even the visuals are sometimes important. Thus, pick the one that suits you the most.
The final word
Bitcoin’s ever-growing popularity is due to its self-imposed market cap, inflation resistance, and mobility. Thanks to these features, blockchain-based gambling venues win over the punters and bettors. Nevertheless, to succeed in sports betting, you should realize that patience and self-discipline are the key factors. Be diligent and patient, and then your bets will surely bring you profits.