Reasons For Using Crypto For Sports Betting
Currently, more and more bookmakers are encouraging their customers to make their deposits in Bitcoin and other altcoins. If you’re a customer of at least one sportsbook you may have received dozens of promotional emails urging you to make your next deposit in Bitcoin or Ether and get a lucrative bonus over your deposit! You can feel the temptation to use these digital currencies. They are hidden, cannot be double-spent, easy to use, and do not require additional fees! Between 2017 to 2021, the sports betting industry witnessed many trends, but cryptocurrencies are the most prominent one, at least in terms of payments.
Sports betting companies want to create virtual assets to maintain their position in the future like any other internet-based industry, while punters want to take advantage of crypto perks and invest their coins in a safer area away from speculating in an immature market!
How to become a millionaire in the modern era? Buy some bitcoins or ethereum, sign up for a reliable betting site, take advantage of your extensive knowledge of the betting markets, win! transfer your winnings to your wallet. Then, when the digital currencies prices rise, exchange your bitcoins or ethereums for dollars or euros. This way you get double profits in your spare time from the comfort of your home without having to keep an eye on the crypto price index!
However, this is only the tip of the iceberg! There are many other benefits of using cryptocurrency at sportsbooks and why punters turn in droves to crypto bookies.
Deposits and Withdrawals
When betting with bitcoin or any other coin, transactions’ processing speed is the key feature. For sports bettors who like to capture the dropping betting markets, crypto deposits will clear on their account in no time, so they can place their bets before the site’s algorithms re-change the betting odds. Once you have purchased bitcoins from an e-wallet or a crypto gateway and got them in your wallet, you can transfer the funds to the sports betting site much more quickly than with fiat-based payment methods. In addition, withdrawals are made quickly as well. Instead of waiting days or even weeks for profits to clear on your bank account, crypto transactions are done at lightning speed.
Much better rewards
Bonuses and promotions are the icings on the cake of betting. They make your betting experience even more enjoyable and give you more time to play and bet on more events. These lucrative offers come in various forms, but the biggest of all is the welcome bonus, followed by new deposit bonuses, free bets, and cashback offers. Moreover, players can get special rewards when referring a new friend to sign up for the site. You may think that bonuses are a mutual feature between crypto and fiat money bookmakers, but this is technically incorrect. Simply because cryptocurrency rewards are fulsome. For example, when you get a 100% bonus on your first deposit of up to 1 Bitcoin it means that you can get an amount close to 50 thousand dollars in one go, surely you can’t get a similar value if you make a cash deposit.
Reliability and security
One of the main advantages of cryptocurrencies is that they are completely reliable and secure. These coins are based on decentralized networks made up of hundreds of millions of computers that work in all countries of the world day and night. These supercomputers record users’ transactions and copy them on their ledger, and therefore it is impossible to double-spend or manipulate. In addition, crypto is available to users everywhere around the world, if you are tired of rejected or failed transactions, virtual currencies will remove these barriers allowing you to deposit smoothly and quickly.
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