What is Crypto Sports Betting?
Crypto sports betting as the name implies is wagering with cryptocurrencies. Crypto sports betting sites are far better than fiat currency sports betting sites in terms of convenience, safety and worldwide exposure. Crypto sports betting sites offer top-quality sports and allow players to explore the most lucrative wagering markets.
How does Crypto Sports Betting work?
Crypto sports betting sites work in the same way as any traditional sports betting site, with the only difference being that the players can stake with crypto coins instead of fiat currencies. The crypto-enabled sports betting sites work on innovative blockchain technology that makes them more secure and reliable. Moreover, crypto transactions are anonymous so even if the player is from any of the restricted countries that are banned by most online casinos, the players can easily access them via any private network without letting the world know about their betting activities. Thus, crypto sports betting sites are the best for those who do not want to reveal their gambling activities to anyone.
Pros and Cons of Crypto Sports Betting
Playing at a crypto betting site has its own set of pros and cons, though the advantages are much more than disadvantages that contribute to the superiority of sports betting with cryptocurrency in the casino industry.
| Pros | Cons |
|---|---|
| Crypto sports betting sites have a global exposure. | The crypto market is not well-regulated. |
| Crypto sports betting sites are highly secure. | Cryptocurrencies are highly volatile. |
| Transaction fees at crypto sports betting sites are relatively low. | Crypto sportsbooks are not always available. |
| Crypto transactions are not affected by inflation and thus are not taxable. | |
| Crypto sports betting sites provide instant deposits and withdrawals owing to the absence of financial intermediaries. |
Factors to look into Crypto Sports Betting sites
With hundreds of crypto betting sites competing against each other, the crypto sports betting industry is developing in leaps and bounds. However, among these hundreds of crypto sports betting sites, only a few are worthy of investments, and therefore it requires a good amount of research to select the right one. Following are some of the important factors to be considered while looking for crypto sports betting sites:
Restrictions and regulations
Crypto gambling has still not acquired any legal status and therefore is neither banned nor allowed. However, there are some restrictions when it comes to online wagering and there are countries where online gambling is entirely banned. Players from these countries have to use a VPN network to access gambling sites. Therefore, players should check whether the sites have their countries listed on their websites.
Reputation
After checking whether the player’s country is enlisted in the website, the next step is to check whether the site has a proper license to operate. Checking the site’s reputation is also important, like whether there were any past disputes with the customers and what measures they took to resolve the disputes, etc.
Years of operation
It is equally important to check how long the site has been operating; the longer the better, which proves that the customers are satisfied with its services and thus continue playing on those sites.
Offerings
Most crypto sports betting sites offer the same sports, with some differences in the lines and competitive odds they offer that determine the exclusiveness of each game. Therefore, players should develop a clear idea about the lines and odds of each sport so that they can choose the right casino that offers exclusive sports.
Payout terms
Each casino sets its payout terms and conditions that the players have to meet to withdraw their winnings. Players should select the casino that processes withdrawals instantly. Some trusted bitcoin casino sites allow players to withdraw a minimum amount of their winnings every week until all the winnings are withdrawn.
VIP bonuses
Crypto sports betting sites offer lucrative bonuses and promotional offers to players having a long association with the betting sites. There are lucrative VIP bonuses and loyalty programs that can be anything from free spins to cashback to invites to exclusive tournaments.
Play at Crypto Sports Betting Sites
Playing at crypto sports betting sites is always better than playing at online fiat currency sports betting sites. The security of transactions, the availability of provably fair games, the support for anonymous gambling, etc contribute to the growing popularity of crypto betting sites.
Final Thoughts
Crypto sports betting sites have reached the pinnacle of success in the last few years, contributing to the exponential growth of the casino industry as a whole. Though Bitcoin has been chosen as the primary cryptocurrency to be used at the sports betting sites, other crypto coins like Ethereum, Ripple, etc are also accepted in some betting sites.
