Why Bettors Are Rushing To Use Bitcoin appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
As the online gambling trend continues to sweep across the globe, the sports betting industry is becoming more competitive than we have ever seen in the past. The leading bookies are forced to compete with other established names while a seemingly endless stream of new and online betting apps join the fold. It is a challenging time for a bookmaker to ensure continued success but a golden age for the bettor.
If you are a lover of professional sports with interest in betting on the outcome of major events, you are in a fantastic position with bookies vying for your attention. They must bend over backwards to catch your eye, offering a generous sportsbook bonus to all new customers, recurring promotions for existing members and excellent customer service. Any small detail that can give an app an advantage over the competition will be used. All you have to do is sit back and choose the best deal.
It’s all about choice
This choice extends to how you pay for your bets and bank your winnings. The standout sports betting sites offer registered customers a range of options on how they conduct their banking, including debit cards like VISA and Mastercard, and e-wallets including PayPal, Skrill and Neteller. You can add funds to your online account by depositing cash at any high street betting office.
The more options and the more control you have, the easier it is to manage your money and how much you spend on gambling. These tools are designed to give you a choice and make gambling on a sports fixture as convenient as possible, but it’s also aimed at guarding against elements of problem gambling, such as over-spending. You must take advantage of all the options available to you in that respect.
Almost all online sportsbooks have the above payment options available to members. Still, there is a new addition that you will find only at the best bookies: cryptocurrencies. Bitcoin has been added as a payment method to some sportsbooks, allowing you to transfer crypto to your gambling account and place bets before withdrawing any winnings back to the same account.
Big news for bettors
This is big news for bettors as it’s yet another option that will be popular with those who love wagering on the NFL, English Premier League and NBA, as well as other major sports competitions and tournaments. But it has also been welcomed by those with an eye for investing in crypto. You can pay for your bets in Bitcoin and transfer your winnings back to your crypto wallet. You then have a choice of what to do with those funds.
You can either move that to your bank account or leave the cash in crypto as an investment. It’s even possible to do both, taking some out to help cover your daily living costs while leaving a portion of your winnings in crypto, hoping the likes of Bitcoin continue to grow and you will make a tidy profit without too much risk.
Yes, crypto can go up or down, but if it does sink – as it has over the last few weeks – the money paid as betting winnings can be viewed as spare cash, and you can leave it in Bitcoin long-term until the market recovers. This trend we are seeing more of from online bettors, and we are sure it will continue for many years. You must be ready for the change by visiting your betting account wallet and adding Bitcoin to your options.
How to place a bet using crypto
Visit the member’s area of your online betting account and pair your crypto account. Choose the sport you wish to bet on, the fixture and then the market that catches your eye. This will add it to your bet slip where you can input the desired stake and click confirm.
You will be asked how you wish to pay for your bet and select the crypto account. The funds to cover the bet will be transferred, and the wager will be confirmed. If you make a smart decision and your selection wins, the returns will be paid to your betting account.
Disclaimer: This is a guest post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
