Betting with Cryptocurrencies: Why this Could be the Future of Online Betting

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Sports betting has been on the rise over the last few years. It’s becoming more popular than even as it has become an easy-to-do activity. Nowadays, you can place sports wagers anywhere you are with a mobile device as long as you are connected to the internet. Online betting has just really made sports gambling more accessible than ever.

Wherever you are, you can now place bets on any sports of your choice. Whether it’s football, cricket, or basketball, you can place all your bets in just one site. Now that the Big Bash League is coming up, you can also place bets on it even if it will be held in Australia. Many sites will surely offer great BBL betting odds in India.

When it comes to online gambling, one good reason why people do is convenience. This includes being able to make transactions in different convenient ways like through a debit or credit card. However, nowadays, there are already many other options that bettors can choose from and this includes the use of cryptocurrencies.

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Cryptocurrencies have had a growing number of users in the last few years and this is mainly because of Bitcoin. It is most likely that when you ask people about cryptocurrencies, they will immediately think of Bitcoin. It is known as the father of all cryptocurrencies like Ethereum, Litecoin, Bitcoin Cash, DogeCoin, and many other more.

In 2017, Bitcoin has garnered quite the attention because of its value. A Bitcoin, at some point in 2017, was valued at around 20,000 US dollars. This made a lot of people and businesses curious about it. Since then, many businesses have started to welcome its use and more people have bought Bitcoin.

Now, there are still people who are skeptical about purchasing Bitcoin or other cryptocurrencies. This is understandable because the value of cryptocurrencies fluctuates more than fiat currencies. However, experts believe that this will eventually change in the future.

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It has been a while since the value of Bitcoin peaked and it’s hard to say when it will once again do so. Currently, its value is already playing around 10,000 US dollars and this is already good news to cryptocurrency users. Many are already clinging on to their cryptos and are waiting for its value to once again peak.

Many are purchasing Bitcoins and other cryptocurrencies for different online transactions. One of the many things that people do with their cryptos includes gambling. Many online casinos and online bookies are now accepting cryptocurrencies. There are even gambling sites that only cater to cryptocurrency users.

For crypto gamblers, they have a few great reasons why they would rather use cryptocurrencies when they are gambling online. Here are some of them.

  • Transactions are fast
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When gambling with cryptos, making a deposit to and withdrawing money from your gambling account could be faster than other payment methods. Transacting with bank accounts would usually take 2 or more days to get processed and this isn’t the case for cryptocurrencies because of decentralization.

With that, it would be easier to transact with Bitcoin and other cryptos especially if you’re transacting with someone overseas. Some banks are strict about gambling transactions and the hassle that could be avoided by using cryptos.

  • Generally Cheaper

Since cryptocurrencies are decentralized, no one else is involved in processing your transactions. It’s an end-to-end way of transacting online. This means that nobody needs to be involved in processing your transactions and nobody will be paid for it. This is why it is generally cheaper to transact with cryptocurrencies.

  • Safe, Secure, and Private

The decentralization of Bitcoin and other cryptos means that all transactions you make with these are recorded. This is why it’s a safe way to transact as you could easily monitor your deposit or withdrawal anytime.

You also don’t have to disclose your banking information anymore whenever you transact with cryptocurrencies. You just really need a wallet address to make a transaction. This is why many gamblers also prefer this as it allows them to make an anonymous deposit to and withdraw from their gambling accounts.

Conclusion

Now that sports are finally back after taking a break because of the pandemic, it is likely that people will be betting online instead of visiting casinos and land bookies. What you should know is that you have plenty of options when it comes to making deposits to and withdrawing from your gambling account.  Consider using cryptocurrencies if you want something private and convenient.

Do check out:

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Rahul Roy
I am a computer guy by profession and a sports fanatic by choice.

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