Online Sportsbooks Companies Integrating Bitcoin

Sep 07, 2019 at 10:53 // PR
Guest Author

Bitcoin has taken the betting industry by storm as it cuts out the middleman and makes transactions quick, safe and convenient. It essentially eliminates everything that is frustrating about online wagering by cutting out the mind-numbing waiting times, the annoying fees and the lack of security. Bitcoin heralds a return to the golden age of betting, and many of the best sportsbooks online have worked hard to integrate it into their platforms. It allows bettors to take back control of their own money and it also gives sportsbooks the chance to offer more attractive lines as there are no transaction fees involved.

It sounds too good to be true, but there has historically been a catch. The sheer volatility of bitcoin has previously meant that your winning margin could be eroded as the price of the cryptocurrency declines while you are waiting for your bet to settle. However, bicoin has been on a tear this year. It had a value of $3,826.10 on January 1 and it has since been on a impressive upward curve. It has now crashed through the $11,000 barrier and it is threatening to usurp the all time highs seen in 2017.  

In the current climate, your winning margin is going to be boosted rather than eroded by the time the game you bet on finishes. If your bet is successful, you often get a double win, as you earn a profit off your wager and off the rise in bitcoin’s value. Many people view investing in bitcoin as a gamble in itself, but right now it is one that is paying off magnificently. You also have the option of quickly converting your winnings back into a fiat currency like dollars, so you need not worry about fluctuations anyway.  

Then you just have to consider the huge number of benefits bitcoin brings to sports bettors and casino bettors. There are no hidden fees, handling fees, conversion fees or transaction fees. It is all peer-to-peer and there is no need whatsoever. You cannot be blocked by a bank, because banks are irrelevant. Betting with bitcoin is also rapid: deposits are quick and withdrawals are instant, meaning the days of waiting weeks for a check or bank transfer to arrive are over.  

Another huge bonus is the anonymity it offers. Many jurisdictions around the world – including plenty of US states – do not permit sports betting, and bettors can use bitcoin to bet with sportsbooks across the globe. But anonymity is also great for all punters, because it means you do not have to worry about identity theft or fraud. All the sportsbooks see is a transaction code, and you do not need to enter your credit card details on online forms. You will not be bombarded with annoying marketing materials, because your details do not need to go on file. Crucially, you will not be banned or restricted if you enjoy prolonged success.

Ultimately, bitcoin is an essential tool for the modern bettor. It is a much safer option than betting with fiat currencies, and it is quicker and easier to use, while allowing you to focus on beating the odds compilers rather than having to worry about moving money around and giving chunks of your winnings to banks that have done very little to earn a cut. You will find that most of the world’s largest betting sites accept bitcoin, and there are also a number of new bitcoin-only sportsbooks offering lucrative bonuses in order to win new business. It is a brave new world and bettors have never been so empowered thanks to the rise of bitcoin.

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