The Benefits of Sports Betting Using Crypto Currency

The Benefits of Sports Betting Using Crypto Currency

Gambling

The Benefits of Sports Betting Using Crypto Currency

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The use of crypto currency such as bitcoin is now becoming more and more popular among sports bettors. There are several distinct advantages to placing a sports bet with crypto currency and we will discuss them here to help newcomers better understand why they should consider this move. Sport betting with crypto is fun and easy and if you know what you’re doing, you may even win big.  

Sports betting is the most popular form of wagering out there. That is because unlike casino gambling which is mostly dependent on a lucky spin or the wheel or a roll of the dice, the bettor’s knowledge of the sport they choose to wager on can be an advantage when placing a bet on a football, basketball, baseball or hockey game

Mar 16, 2018; Anaheim, CA, USA; Anaheim Ducks left wing Jason Chimera (20) and Detroit Red Wings left wing Andreas Athanasiou (72) reach for the puck in the third period of an NHL hockey game at Honda Center. The Ducks defeated the Red Wings 4-2. Mandatory Credit: Kirby Lee-USA TODAY Sports

In order to place bets on sporting events using crypto currency, you first must find a Web site or bookmaker that accepts the crypto currency you wish to use. Then you need to set up an e-wallet to keep your currency in and transfer funds to your bookmaker when you place bets and to have your payout sent to when you win.

One advantage to using crypto currency is that there are no fees for changing the currency regardless of where the bookmaker you are using is located. If you are using bitcoin, for example, that is the same all over the world. 

Another reason to use crypto currency when placing a bet on a sporting event is that it allows you to remain completely anonymous. Your bookmaker will not provide you with anything with your name on it and this helps gamblers to remain anonymous. This means there is no electronic record of the wager that contains your personal information. That way, the bets cannot be traced back to you.

Sep 22, 2020; Lake Buena Vista, Florida, USA; Denver Nuggets guard Gary Harris (14) drives against Los Angeles Lakers forward LeBron James (23) during the first half of game three of the Western Conference Finals of the 2020 NBA Playoffs at AdventHealth Arena. Mandatory Credit: Kim Klement-USA TODAY Sports

In addition, payouts and payments are very fast when you use crypto currency. When you win, your payouts can be made almost immediately and when you make a deposit of crypto currency into your account, that money becomes available for wagering almost immediately. In addition, there are no surcharges on crypto currency payouts or deposits and no feel for converting currency which are standard when using traditional currency to place a wager. 

When withdrawing fees using crypto currency, there is usually a fee, but that fee is usually substantially lower than the fees involved in converting from one traditional currency to another, like Euros to dollars, for example. This helps you to save money especially if you are wagering on a regular basis. 

So, using crypto currency to wager on sporting events can help you remain anonymous, get your money faster and reduce the fees associated with converting your money and taking it out. It’s a no-brainer that the odds are very much in your favor when you use crypto currency and place a bet on your favorite sports team to win big!

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