Is Bitcoin Sports Betting Next Big Thing in Crypto?
The main features of Bitcoin Sports Betting
In order to understand the monumental potential of BTC Sports Betting, we have to take into consideration all the amazing features that this form of online sports wagering brings to the table. There are numerous reasons why the use of cryptocurrency paved its way through the online games of fortune industry in such a swift manner, allowing the existence of FortuneJack Sportsbook and many others to attract players from all over the world to test their luck and experience.
Anonymity
Although an amusing pastime, online sports betting is prohibited in many countries which really creates a problem for players that want to enjoy the exhilaration of seeing their favorite winning. Furthermore, a lot of players prefer keeping their credit card number off the grid for a number of other security issues, which is why they turn towards BTC sports betting. Cryptocurrency transfers are anonymous, which means nobody will know that it was you who deposited or withdrew funds. In addition, cryptocurrency websites respect your privacy and don’t ask for any personal info that you would prefer keeping to yourself.
Low fees, no conversion expenses
When you transfer money from your credit card to an online account, you have to wait a while until the transfer is completed. Furthermore, conversion rates often cost too much, making you spend money you would put to a better use otherwise. When it comes to cryptocurrency, there are only minimal transaction fees which are common with every cryptocurrency transaction. Since BTC Sportsbook websites require Bitcoin, there is no need for conversion which completely reduces deposit costs. You deposit BTC, wager BTC and withdraw BTC. And to top it all, cryptocurrency transfers are virtually instantaneous, so there is no reason to wait for the funds to sit on your online account or withdraw back to your wallet.
Are there downsides?
The only downside to Bitcoin Sports Betting could be the volatility of cryptocurrency market. We are all witnesses that the price of Bitcoin can go sky high and then sink in just a matter of weeks. However, one could observe this situation as a chance for additional income. Winning a lot of BTC when the price is low and then selling the coins when the price goes higher is just another way of making a profit.
Final words
Considering the growing number of countries that prohibit online wagering, Bitcoin Sports Betting is just waiting for its moment to take over the world. At this point, more than 50 percent of Bitcoin transfers are due to online cryptocurrency casinos, many of which offer Bitcoin Sportsbook events. It stands to reason that as the crypto world grows so will BTC Sports Betting platforms grow and finally take over the market.
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James Woods, Khareem Sudlow