Whether you’re new to online gambling or you’re a seasoned punter, you’ll surely know that most online gambling platforms are now accepting cryptocurrency, especially bitcoin. With the wide array of bitcoin betting sites, one might begin to wonder about the benefits of sports betting with bitcoin. In this article, you’ll understand why sports betting with bitcoin is a good option to consider and all the benefits that come with it.
5 Benefits of Sports Betting with Bitcoin
By default, cryptocurrencies are designed to offer as much security as possible, so using them to place bets ensures that your bets are placed through secure portals of the web. As a rule of thumb, make sure the sports betting site you’re going to gamble on also has other security options in place, such as two-factor verifications and SSL encryption.
For those who are concerned about their private information, betting on your favorite sport using bitcoin offers the benefit of anonymity. This is because cryptocurrency networks use unique IDs and passwords to validate any transaction, which protects both the digital token and your identity. You can easily transfer any amount of bitcoin from your wallet into your betting account and back without disclosing your personal information that might otherwise be used against the user in some settings.
No bank charges
Funding your sports betting account with bitcoin and even placing bets doesn’t require any bank charges due to the way they’re structured. Unlike some banking organizations that impose heavy taxes or VAT fees on traditional currency payments, bitcoin betting offers more transparent prices. However, this doesn’t mean that it’s completely free. You have to pay a small gas fee to the miner that helps validate your transaction.
No third-party involved
One significant issue with traditional banking options is that you can’t transact without the bank standing as an intermediary. But with bitcoin betting, you can fund your account without third-party interference. Even the miners who will validate your transactions won’t see what it’s for or who initiated the transaction. Plus, your transaction won’t be bounced back for any reason.
Another fascinating benefit of sports betting with bitcoin is the payout speed. While other payment methods like e-wallets offer swift cashout, people relying on wire transfer services will have to wait for up to seven days before they can get their winnings. While bitcoin transactions aren’t as fast as e-wallets, they’re better than some traditional banking methods.
You shouldn’t have to worry about how to get money in and out of your favorite sportsbook. Bitcoin sports betting provides easier methods to fund your betting account and potential withdrawal winnings. If you’ve had trouble making deposits with e-wallets, credit cards, and other banking methods, then you should give BTC sportsbooks a try.