• About
  • Contact Us
Saturday, June 25, 2022
Crypto Currency Financial
  • Home
  • Crypto News
  • CRYPTO CASINOS
    • Cardano Casinos
    • Ethereum Casinos
    • Litecoin Casinos
    • Tron Casinos
  • MARKET UPDATES
    • BTC ANALYSIS
    • ETH ANALYSIS
    • XRP ANALYSIS
  • About Us
  • Contact Us
No Result
View All Result
Crypto Currency Financial
No Result
View All Result
Home Crypto

Advantages of using bitcoin for sports betting

Max Steven by Max Steven
March 23, 2020
in Crypto
371 28
0
Advantages of using bitcoin for sports betting
549
SHARES
2.5k
VIEWS
Share on FacebookShare on Twitter

Bitcoin bookies are truly revolutionising the present-day sports betting world. Their openness to bitcoin transactions enables these sports books to process the withdrawal and deposit request of punters in a very quick manner. Hence, there is no need of waiting for weeks to see the money in your account.

When you indulge in online betting with bitcoin, the banking also happens almost free of cost, implying that you get to keep more of your winnings in your account. Additionally, bitcoin sports betting portals give you an opportunity to wager money on almost every major sports league of the US, Europe, Asia, UK and Australia, including the likes of English Premier league, AFL, NBA, NFL and more. Let’s learn how using bitcoin for sports betting gives you plenty of advantages.

No third-party oversight

Even though sports betting was legalized by the US Supreme Court in May 2018, there are many states that are yet to take desired steps to complete legalize the activity in their jurisdictions. Considering the highly restrictive laws, there aren’t many choices available to US-based sports bettors when it comes to betting with legal sports books. Owing to the paucity of options, these punters have no choice but to place wagers through offshore bookies. 

Although these online bookmakers don’t have any problems accepting deposits from the US based customers, majority of banking establishments are not too cool about it. That’s where a cryptocurrency like bitcoin comes into the picture. The structure and design of bitcoin is best-suited for solving a problem like this. Using bitcoin, you avoid third-party oversight in entirety, and the exchange involves no one else apart from the online bookie and you.

https://www.youtube.com/embed/dv1OhElLmws

Almost zero transaction fees

It’s common knowledge in the online sports betting industry that you can normally make deposits to an online betting portal completely free of charge. However, when it comes to withdrawals, you will normally need to pay a hefty fee. This is because transferring winnings from the online bookmaker to your bank account involves charges paid to a middleman.

Bitcoin is based on the block chain technology whose fundamental design is such that there is no middleman involved, and hence no such transaction fees needs to be paid. The absence of such middleman means that the majority of the bitcoin transactions involve a very nominal fee in the vicinity of $ 0.04.

Quicker fund transfers

When you cash out your winnings through bitcoin, the transaction not only happens with minimum fee, the bitcoin gets transferred to your wallet in a matter of only few minutes!

Prevention against fraud and identity theft

Rather than making you enter your credit card number, its security code and expiry date, into some random web form, the bitcoin transactions involve providing only your address to the other party, apart from your public and private keys. Bitcoin being a cryptographic currency means that the encoded data constitutes an essential part of the transfer process. Furthermore, although you can calculate a bitcoin’s address using its corresponding private key, it’s almost impossible to reverse the exchange process.

This makes bitcoin transactions extremely safe for people who prefer funding their online bookmaker accounts without the need of providing any private information.

Tags: AdvantagesBettingBitcoinSports
Max Steven

Max Steven

Max has keen interest in what cryptocurrencies have to offer in regards to NGO’s, governments and the financial system.

Related Posts

8DAO: Asia’s first Social DAO, using social capital to build a Web3 ecosystem

8DAO: Asia’s first Social DAO, using social capital to build a Web3 ecosystem

June 18, 2022
KCC Opens Validator Election, 100% of the KCC Gas Fee Allocated To Active Validators

KCC Opens Validator Election, 100% of the KCC Gas Fee Allocated To Active Validators

June 16, 2022

Coinhub AI quantitative trading leads the new wave of crypto, with user data up over 200% in Q2

June 15, 2022
Award-Winning Projects of the $1,000,000 KCC Unicorn Contest

Award-Winning Projects of the $1,000,000 KCC Unicorn Contest

May 28, 2022
United with the Global Guild to cast the cornerstone of Mars

United with the Global Guild to cast the cornerstone of Mars

May 18, 2022
Coinstore.com Accelerates Globalization Strategy and Launches “Crypto Tour of 50 Countries”

Coinstore.com Accelerates Globalization Strategy and Launches “Crypto Tour of 50 Countries”

May 9, 2022

Trending

Introducing Lords of The Lands – A Futuristic Metaverse Space for NFT Rentals
NFT

Introducing Lords of The Lands – A Futuristic Metaverse Space for NFT Rentals

1 day ago
8DAO: Asia’s first Social DAO, using social capital to build a Web3 ecosystem
Crypto

8DAO: Asia’s first Social DAO, using social capital to build a Web3 ecosystem

1 week ago
KCC Opens Validator Election, 100% of the KCC Gas Fee Allocated To Active Validators
Crypto

KCC Opens Validator Election, 100% of the KCC Gas Fee Allocated To Active Validators

1 week ago
Crypto

Coinhub AI quantitative trading leads the new wave of crypto, with user data up over 200% in Q2

1 week ago
Animoca Brands, Leading Blockchain Games Company, Becomes Lead Liberty Gaming Investor
NFT

Animoca Brands, Leading Blockchain Games Company, Becomes Lead Liberty Gaming Investor

2 weeks ago

Recent Post

  • Introducing Lords of The Lands – A Futuristic Metaverse Space for NFT Rentals
  • 8DAO: Asia’s first Social DAO, using social capital to build a Web3 ecosystem
  • KCC Opens Validator Election, 100% of the KCC Gas Fee Allocated To Active Validators
  • Coinhub AI quantitative trading leads the new wave of crypto, with user data up over 200% in Q2
  • Animoca Brands, Leading Blockchain Games Company, Becomes Lead Liberty Gaming Investor
  • MemeKong Setting The Standard For Meme Coins
  • JPEX is teaming up with the Western Sydney Wanderers to give away 250 exclusively designed NFT “J-ball”.

Categories

  • AI Trading
  • Axia
  • Bitcoin
  • Blockchain
  • Blockchain News
  • Business
  • Crypto
  • Crypto News
  • Cryptocurrency
  • Cryptonews
  • Cryptos
  • Deepcoin
  • Gaming
  • Guest Post
  • ICO
  • Metaverse
  • News
  • NFT
  • Press Release
  • Technology
  • Tezro
  • Token
  • Trading
  • TRADING GUIDES
  • Wallets

Tags

2020 Announces Betting Bitcoin blockchain Brides cannabis Casino Casinos Colorado Content coronavirus Covid19 crypto Cryptocurrency Currency Deal financial foreign Gambling Games Gaming Group Launch Launches live marijuana market Online Partners Partnership Play pot Pragmatic Red reports revenue Simple Slot Slots Solutions Sports Supply unveils William

About

The cryptocurrencyfinancial publishes regular news, analysis and opinion pieces on the latest developments in this fast-moving space. We offer the latest crypto news, expert pricing analysis and insight on the latest ICO's.

Contact Us: [email protected]

  • About
  • Contact Us

Associated with Blockchain Press Media Network

No Result
View All Result
  • Home
  • Blockchain
  • Crypto
  • News
  • Press Release
  • Price Analysis

Associated with Blockchain Press Media Network

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)
    $47,760.000.100% 24H
    BITCOIN
    24H : 0.100%
    Volume : $25,691,746,641.00
    Marketcap : $902,767,395,534.00
  • ethereumEthereum(ETH)
    $3,750.30-0.42% 24H
    ETHEREUM
    24H : -0.42%
    Volume : $15,543,537,817.00
    Marketcap : $446,191,570,291.00
  • binancecoinBinance Coin(BNB)
    $523.71-0.25% 24H
    BINANCE COIN
    24H : -0.25%
    Volume : $1,715,282,504.00
    Marketcap : $88,112,540,019.00
  • tetherTether(USDT)
    $1.0000.050% 24H
    TETHER
    24H : 0.050%
    Volume : $52,703,800,023.00
    Marketcap : $78,519,198,598.00
  • solanaSolana(SOL)
    $175.020.210% 24H
    SOLANA
    24H : 0.210%
    Volume : $1,660,210,957.00
    Marketcap : $54,115,741,275.00