The traditional way of placing a sports bet – going down to the bookie’s and filling in a betting slip – feels archaic these days, with the majority of sports betting now going on online. Anyone with an online betting account can now place bets wherever they are, at the click of a mouse or a quick tap on their phone. Features such as in-play betting and being able to cash-out at any moment make online betting even more popular.
In recent years, though, there have been further developments in the online betting world, particularly with the introduction of bitcoin sportsbooks, which offer users some significant advantages over traditional flat currency sports betting.
The crypto-currency bitcoin is a decentralised currency that can be used for all kinds of financial transactions – buying goods and services and as an online currency for different betting sites. Users can remain anonymous and money can be moved around the world in a cost-effective manner.
Bitcoins are sent using encryption codes and transactions are carried out securely, with deposits and withdrawals taking place almost instantly. This makes them particularly appropriate for use on online sportsbooks.
In order to place bets on a bitcoin sportsbook, you’ll need to set up a free bitcoin wallet account and purchase bitcoins from independent market exchangers. When you deposit cash into a bitcoin wallet, the bitcoins are directly posted to your account. You can then transfer your bitcoins to a bitcoin sportsbook account.
What are the advantages of using bitcoin sportsbooks?
As well as offering the usual range of sports events to bet on, bitcoin sportsbooks can offer higher odds than traditional flat currency online betting sites on certain events. If you want to make sure you’re getting the best odds on a race or fixture, always double check the odds on different bitcoin sportsbooks as well as flat currency online sportsbooks.
For many users, it’s the ability to bet on international markets via a bitcoin sportsbook that appeals the most. So, for example, a US bettor can use a site such as Vegas Casino to bet on domestic sports such as NFL and MLB, but also European soccer, and tennis and golf events around the world. Once they’ve checked out the daily markets, users can place bets from as little as 0.01mBTC and once the bet is placed the potential win is displayed on the screen. Any winnings are paid automatically to a player’s account as soon as the event in question has concluded.
Some bitcoin sportsbooks offer welcome bonuses when you first create an account. There are also referral programmes available, as well as regular betting bonuses. It’s worth keeping an eye on the promos pages to make sure you don’t miss out on any chances to boost your bankroll for free.
Some bettors choose a bitcoin sportsbook because they like to keep their personal details personal – on a bitcoin sportsbook, there is no need to provide any personal or financial details beyond an email address and a bitcoin address.
Another advantage is that when you transfer money at bitcoin sportsbooks it’s done instantly, so there’s no waiting time when you want to make a deposit onto your sportsbook or withdraw money.
If you have a bitcoin account and like to bet on sports, you may as well try out a bitcoin sportsbook and see if it works for you.