Crypto betting sites are a new and unique way to enjoy sports betting online. Unlike traditional sportsbooks, crypto betting platforms allow users to make payments using cryptocurrencies. And the usage of digital currencies makes betting sites that accept crypto coins somewhat different from regular bookmakers. In this article, we compare these two ways of betting on sports online.
What are crypto betting sites?
Simply put, crypto betting sites are online betting platforms that allow bettors to make use of digital currencies such as Bitcoin, Ethereum, and Litecoin to make betting payments. Owing to the nature of cryptocurrencies, bettors can stay anonymous when placing wagers on their favorite sporting event online.
Besides that, the sporting events and betting markets available at crypto betting sites are largely the same as online betting platforms. Also, the betting rules and terms are quite similar to that of traditional bookmakers.
Crypto betting sites and traditional bookmakers compared
As mentioned earlier, crypto betting sites and traditional sportsbooks are both similar and different in their own way. Let’s take a more detailed look at that.
Currency
Again, the most obvious point of difference between crypto sportsbooks and regular bookmakers is the way you make payments. At traditional betting sites, you can usually credit/debit cards such as MasterCard, VISA, and American Express to process betting transactions. Also, other payment options such as bank transfers, e-wallets, bank transfers, and pay by phone can be used at betting sites played online.
When it comes to crypto betting sites, the main focus of these platforms is on cryptocurrencies. So, you can only use digital currencies to add funds or withdraw money at these sites, though some crypto sportsbooks also allow some popular transaction options. Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, and Tether are some common digital currencies that are accepted by most crypto-betting platforms.
Security and anonymity
When playing at any good online sportsbook, you’ll find several security measures in place. These security technologies ensure that both the personal and financial information of bettors remains safe from hackers. What’s more, legit online betting sites are licensed and regulated by reputable gambling authorities that have stringent rules to follow.
As for crypto betting sites, they also follow the same security measures that are used by regular bookmakers. But crypto sportsbooks offer increased anonymity as they don’t require bettors to submit much of their personal and financial details. And owing to the decentralized nature of cryptocurrencies, the betting transactions don’t appear in your regular bank statement. In short, crypto platforms are ideal for those players who want to enjoy sports betting but don’t want to give much of their details.
Betting options
Both crypto betting sites and online bookmakers have hundreds of markets available on all popular sports, such as football, cricket, basketball, hockey, and baseball. Also, you can find odds available on e-sports and some local sports events as well. All in all, the betting options don’t differ much at online betting sites and traditional sportsbooks.
Summing up
Both online sportsbooks and crypto betting sites are great ways to wager on sports online. While the two platforms differ in terms of anonymity and payment available options, other aspects and features of the two are essentially the same. As such, it all comes down to your personal choices when it comes to choosing between online bookmakers and crypto betting sites. Have a great sports betting experience there!
