Bitcoin and Online Sports Betting

Before the revolution that was the internet, you had to cruise down to your bookmaker in person to place a bet on your favorite upcoming sporting event. Can you imagine? Nowadays, the use of online sportsbooks has seriously streamlined the way we place wagers.

As technology continues to improve the way we place bets, the rise of cryptocurrency has brought us a new wave of ways to place bets on a variety of different sports betting sites in the USA.

Not only have online sportsbooks adapted to the addition of cryptocurrencies, but they have embraced their use wholeheartedly.

To encourage their users to utilize this efficient new method of placing bets, sportsbooks have made crypto currency one of the easiest methods to deposit and withdraw your money quickly.

Based on that information, it should come as no surprise that nearly $4.5 billion worth of bets were placed over three years using Bitcoin
alone! That doesn’t even include some of the other popular cryptocurrencies on the market, like Litecoin, Ripple, Ethereum, and more.

One of the biggest perks of using cryptocurrency while betting, and likely one of the reasons we have seen such a massive boom in popularity, is that it is completely anonymous.

Bitcoin also reported that over half of its transactions are used for some form of online gambling. This popularity is likely because you do not have to provide a bookmaker with your personal financial information when you work with them through cryptocurrency.

If you don’t feel comfortable providing your financial information to online bookies, cryptocurrency is the way to go. It provides you with a safe, easy, and efficient way to place wagers without the worry of falling prey to an illegitimate betting site.

Let’s face it, the marriage of cryptocurrency and sports betting is a booming industry. When it comes down to it, the reasons for its success are entirely valid. Using Bitcoin and similar cryptocurrencies allows you to protect your money and your identity.

Betting sites also provide bountiful incentives for using e-currency, including bonuses, faster withdrawal/deposit rates, and more. Overall, the cryptocurrency craze in the sports betting industry is entirely justified, and likely here for the long haul.