In the past few years, cryptocurrency has taken over the world and its acceptance around the globe is only growing as more time passes. This currency has been beneficial to many industries, like the real estate sector and many more. Naturally, despite their status as highly inventive sub-industries within the sports sector, online betting and gaming are not newcomers to the cryptocurrency craze.
Nearly every day, there is a fresh sportsbook launching, and these sites are providing better prospects for online bettors by comparison to their more traditional equivalents. In this article, we will be exploring all the reasons why crypto and betting make the perfect pair.
Why are Crypto and Betting Bookies the Ultimate Pair?
Due to the fact that cryptocurrency is still a relatively new phenomenon in the world of finance, many people continue to harbor the misbelief that such digital currencies are either risky or unreliable. These concerns, however, are unwarranted, as crypto accepting bookmakers are frequently even more secure than conventional betting websites. The trusted information sources about BTC friendly bookies we’ve come across highlight some of the reasons why crypto makes the betting experience all the more enjoyable, making them an unbeatable pair. From swift withdrawals to additional bonuses, these crypto and betting are a force to be reckoned with.
Swift Withdrawals and Smooth Deposits
When it comes to betting on sports, using a crypto-friendly sportsbook offers a number of benefits, one of the most significant of which is the rapidity with which crypto payments may be processed. Therefore, we look for sportsbooks that can produce rewards in a time frame that is typically less than 48 hours. When it comes to crypto-friendly bookies, some of the finest ones can payout on the same day that a request for a withdrawal is submitted.
On top of this, the minimum limits for both deposit and withdrawal when using cryptocurrency at a sportsbook are generally quite low in comparison to alternative currencies. This is a factor that bettors love, as high limits are a very common barrier that keeps potential users away from betting sites.
Another redeeming quality that makes betting and cryptocurrency such an excellent pair is the additional bonuses that sportsbooks offer for individuals looking to use crypto for betting. Players who make deposits using cryptocurrency are eligible for a variety of welcome bonuses and ongoing incentives which can accumulate to a significant amount of extra winnings. The offers on the market vary from one sportsbook to another, however, you’re looking at the potential of winning an additional range of $1000 to $2500 when signing up to particular betting sites and making your initial deposit in crypto. That’s quite an unbeatable offer!
Increasing Your Odds
In addition to making online betting safer and speeding up money transfers, cryptocurrencies also make it possible to earn higher odds while betting. The facts collected over a number of years demonstrate that this is, in fact, a significant benefit, despite the fact that it may appear to have a little bit of an unrealistic rose-tinted hue. The question now is, how exactly can cryptocurrencies enable online betting firms to provide higher odds?
Essentially, the fees for transferring money in crypto at betting sites is cheaper by comparison to other methods. Given that this currency is not governed by a centralized entity like a government, there are fewer expenses associated with them. These seemingly insignificant variations in transaction costs can, over time, amount to large sums, particularly for major betting sites. In addition to that, the operating costs at these sportsbooks are typically lower. Because cryptocurrency sites have reduced operating costs, they are able to provide better odds than traditional sportsbooks while still maintaining a profit over the long term.
Keep Things Hush Hush
Another quality that many bettors tend to praise from this pairing is the added privacy that results from using crypto for betting. The ability to send and receive money using a cryptocurrency anonymously is one of the most appealing features of the technology. When using this currency, neither you nor the recipient is required to divulge any delicate or identifying information in order to send Crypto from one wallet to another.
It’s possible to transfer crypt coins straight to a sportsbook while retaining your anonymity if you’d want. As long as you have a wallet ID and a secure passcode to safeguard every transaction on the cryptosystem, you’re good to go. When it comes to dealing with trades, you don’t have to be concerned about anything going wrong or failing.
What Does The US Law State about Bitcoin Betting?
Depending on the state you are located in, gambling with Bitcoin may or may not be permitted. Although there are 50 states in the USA, There are approximately 27 states that have passed legislation to legalize digital sports betting, and betting with Bitcoin is permitted in the majority of these states. On the other hand, some states place restrictions on the types of sportsbooks that can legally operate within their borders, and these states’ authorized sites might not support Bitcoin.
You can still make bets on the most professional sports teams using an offshore betting site even if you live in one of these states where bitcoin sports betting is not permitted by law. Although it is technically illegal to wager with offshore betting sites in the United States, in practice the law is rarely enforced in this regard. The vast majority of offshore betting sites now accept Cryptocurrency for withdrawals and deposits, and reputable Bitcoin sportsbooks, such as the ones we examined, are generally very secure.