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!
