Sports and gambling have long been intertwined, but now Bitcoin sports betting is becoming increasingly popular. With more and more sports leagues and betting sites offering the option to gamble with cryptocurrencies. Using cryptocurrencies looks set to increase enormously. Still, many bettors are struggling with how to place a bet with cryptocurrencies and also their activities. This post will cover a few ways that you can use to determine such sites and how you can find the best bitcoin bookies of this betting revolution.
What Are Cryptocurrencies?
A cryptocurrency is a digital currency in which cryptography is used to protect transactions and control the creation of new tokens. The first token was Bitcoin, and in the preceding decades, thousands more have sprung up using various blockchain technologies. They have proven popular among many, from investors looking for the next best investment to individuals looking to wean themselves away from centralized authors. However, it is still to be seen how the general public will use them as an everyday currency, one activity where it has seen tremendous growth in the gambling industry. These days, there are numerous Bitcoin betting sites that allow their customers to bet on a range of sports and casino games using these tokens. The most commonly accepted include:
- Bitcoin: As previously mentioned, this is the OG coin and, as such, also has the largest market cap. While its price has dropped considerably since the start of the year, it is still the token with which all others are compared.
- Ethereum: The second-biggest kid on the block is Ethereum (ETH). This option created a buzz thanks to its own interpretation of the blockchain and is now one of the most widely used blockchains in existence.
- Litecoin: Litecoin is a peer-to-peer digital currency that offers faster transaction times and lower fees than Bitcoin. It is less widely used than the others, but it still remains one of the most valuable in terms of market cap.
- Dogecoin: Originally intended as a meme coin, Dogecoin has inexplicably stuck around and is used by a handful of casinos and bookmakers on the web.
Although other tokens might be accepted, the vast majority of those on the market is too volatile to be worthwhile.
What Are The Advantages Of Using Crypto To Bet?
Crypto betting has many advantages over traditional betting methods. The first advantage is that there are no third-party fees and no need for an account. Crypto betting is fast, secure, and anonymous. This makes it more appealing to people who want to gamble without having their identity revealed or having to pay high fees. Another advantage is that crypto bets are easy to make and can be made in smaller amounts than traditional sportsbooks allow. This allows people with limited funds to still be able to bet on their favorite teams or players without breaking the bank. Finally, they are a truly universal currency, meaning that anyone can play no matter where they are in the world and avoid the painful exchange rates that often come with standard fiat currencies.
How To Find The Top Crypto & Bitcoin Sports Betting Sites
The crypto and bitcoin sports betting industry is still in its infancy (relatively speaking), and the market is unpredictable. However, some reliable sites offer excellent odds on top of competitive wagers. Nevertheless, the question remains, how do you find the hidden gems?
Search Online
The first option also happens to be the most obvious! However, as with anything these days, you can often find what you are searching for by using the correct search query. Therefore, you should think carefully about what you are really trying to look for before typing any generic search into the search bar. For example, if you are looking for a bookie that deals exclusively with Bitcoin, you should include this in your inquiry.
Visit Online Forums
Websites like Reddit, Quora, and even specific Facebook groups can be goldmines when it comes to finding the best betting sites. You simply join the group and ask others for their suggestions. Discord has also become a great place to discover a whole range of exciting groups dedicated to gambling and sports betting. Moreover, you can think outside of the box for this point. For example, you don’t have only to join gambling groups to get the best results. You could join crypto communities and ask if anyone uses tier stash to bet on their favorite sports teams.
Bitcoin sports betting is the future. Since 2009, the cryptocurrency market has grown exponentially, as has the number of online sportsbooks. However, as websites become more prevalent, it becomes more important to remain vigilant.