The Advantages of Bitcoin Sportsbooks

Online sportsbooks have firmly established themselves as one of the biggest sources of entertainment in the world. As technology has advanced, the overall quality of their services has drastically improved, which in turn has attracted more and more people to give them a try. As sportsbooks have been progressing in popularity, so too has a particular digital currency. That’s right, we are of course talking about Bitcoin, the decentralized digital currency without a central bank or administration.

 

Now, based on the individual success of both, it was only a matter of time before the two joined forces. Bitcoin betting sites and sportsbooks offers a number of advantages, including the ability to stay invested in crypto while you bet, ultra-fast deposits and withdrawals, complete anonymity, and even exclusive bonus offers.  As bitcoin betting sites become more and more popular it is becoming more difficult to pick up a safe and reliable site. Turning to a trustworthy and professional comparison site can be very helpful in this task. Take for example Sportslens´ insightful guide about the sportsbooks where you can bet with bitcoins, covering all you need to know including reviews of the top Bitcoin betting sites by experts.

This article has been put together to highlight the advantages of using Bitcoin Sportsbooks. So, without further ado, let’s get started!

 

Anonymity

 

Every single bitcoin transaction makes use of a unique identification number as well as a password that is required to authenticate it. Is due to this fact that bitcoin is able to keep your personal information, including your identity, fully secure and private.

 

People want to keep their identity anonymous when using sportsbooks for a variety of reasons and just like an individual’s private information, these reasons are completely individual and should be left that way.

 

Variety of Sports

 

Thanks to the fact that both bitcoin is decentralized digital currencies and that sports betting is such a popular activity, Bitcoin Sportsbooks allow you to place bets on a huge variety of sports, including football, ice hockey, basketball, and American football.

 

Many people doubted the potential of Bitcoin Sportsbooks when they were in their infancy, in part, this was because regular sportsbooks were already so well established that many believed it would be impossible for Bitcoin Sportsbooks to even establish themselves. But seeing as many Bitcoin Sportsbooks now carry over twenty sports, including all the major sports leagues, including the NFL, it is no surprise why they have gained in popularity so quickly.

 

Safety & Security

 

When compared to traditional payment options, bitcoin offers a superior level of security in a number of ways. Naturally, when you are wagering bets online, you want to know that your money is completely safe and secure. Thankfully, bitcoin does just that.

 

Technology is continuously innovating, as we can see with foldable phone shipments being predicted to rise over 30 million yearly by 2024, and so it is no surprise to see that the technology behind bitcoin has allowed for this extra level of security.

 

The digital currency is well known for being more difficult to steal than its traditional counterparts, allowing you to use your favorite sportsbook with complete peace of mind.

 

Transaction Speed

 

Transaction speed is an incredibly important aspect of online sportsbooks, and this is one particular area that which bitcoin has a major advantage over standard currencies. Firstly, in case anyone is unfamiliar with bitcoin transactions, we would like to assure you that once you do it once, you will realize just how simple it is.

 

However, this is not the main advantage of Bitcoin Sportsbooks when it comes to withdrawing and depositing money, instead, it is the actual speed of the transaction. We are all likely aware that with many traditional transactions, you will have to wait up to 48 hours for the transfer to be verified.

 

Of course, when it comes to wagering bets on live sporting events, you can very quickly see how this is a major inconvenience. Often the want to place a bet can arise on quite short notice, especially if you are not constantly observing the ongoing fixtures.

 

Additionally, many people like to bet on sports games that they will be sitting down to watch with a group of friends, another thing that is difficult to predict with certainty. Moreover, it is always great to know that if you want to withdraw your winnings, you can do so instantaneously, rather than having to wait.

 

No Traditional Banking Charges

 

As we have established, the actual make-up of bitcoin, as a digital currency, means that you avoid banking fees when using sportsbooks. In addition to this, it also means that Bitcoin Sportsbooks can set a different rate of both minimum and maximum deposits in comparison to traditional currencies.

 

As result of the lower entry amount for certain bets, it means that users can place smaller bets on the game of their choice. Furthermore, this is part of the reason why the bonuses and promotions on offer by Bitcoin Sportsbooks are often much better than traditional sportsbooks.

 

In one way, you can think of the savings made by the sportsbook as a result of using bitcoin being passed on to its users. The very definition of win-win if you ask us!

 

The Bottom Line

 

Bitcoin Sportsbooks have a number of advantages over traditional sportsbooks, including the fact that they remove a large amount of the hassle associated with their counterparts. And thanks to the exponential growth of technology, the advantages of Bitcoin Sportsbooks over traditional ones are only going to increase.

 

When we think that online sportsbooks are meant to make it easier to wager bets on sporting events, we can easily see how Bitcoin Sportsbooks are just the next step in this development of making betting as easy a process as possible.

 

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