Online betting has meant a lot of changes to the overall betting industry over the last few decades. Everything has become faster, more convenient, and more accessible. The online sphere was the natural next arena for betting, and the global estimated value of the online betting industry alone is now estimated around $93 billion USD.
Since the widespread popularity of cryptocurrency first started taking hold in the early half of the 2010s, crypto bookmakers have also been the next natural progression for the betting industry.
One particular area where crypto’s applications are plain to see is in-play betting through betting sites like those shown at . High-speed, minute to minute betting will benefit enormously from widespread crypto adoption—so let’s look at a few reasons why.
- Authentication
The idea of in-play betting is very attractive to a lot of us, but some of us also feel unsure of how safe it is. The blockchain and cryptocurrencies are essentially self-authenticating methods of payment—everything is independently verified on chain.
This means that you can make in-play bets without having to spend lots of time worrying about where you’re sending the money, and how it is going to get there. Everything is independently verified, and you can bet moment-to-moment without any concern for where your money goes.
This of course has implications for all online betting, but in-play betting especially.
- Speed of pay-outs
Speed in general is one of the biggest advantages of crypto betting, but in in-play betting its benefits are even clearer to see. Especially when it comes to pay-outs, crypto is the clear and obvious choice for in-play betting.
What is often the case with in-play betting is that punters feel more encouraged to keep betting on less and less sure things because they know their winnings will take time to withdraw. Thus, with crypto, you can instantly withdraw your winnings and quit while you’re ahead.
In-play betting is great, and we all love the thrill of it. At the same time, it’s really important not to let your emotions get ahead of you. Average gambling debts in the U.K., by the time people get help, are around ?10,000—in-play betting can often contribute to this.
With instant pay-outs, this problem is hugely reduced.
Another common concern when we are betting in a very fast-paced environment is about our privacy. When an event is ongoing, we are naturally concerned about who might be watching. Some of the biggest games in soccer, for example, can bring in as many as 500 million viewers.
With this much attention on an event, it’s hard to know what fraudsters and cyber criminals might be attempting to do. Cryptocurrencies use virtually none of your private information for the betting, so your privacy is never at risk during in-play betting.
Crypto bookmakers not only make in-play betting smoother and faster, they make it more safe, secure and reliable.
- Transparency
The fact is that when you are engaging in in-play betting, you are far less likely to spend as much time thinking about bets as your ordinarily would. Savvy punters know that the best bets are carefully considered and thought out, and that impulses are generally ignored.
But in-play betting is all about impulsivity, essentially—things are moving too fast for you to spend that much time thinking about them. That’s where crypto comes in again.
In general, the house edge is around 5-10%–that means that the betting and odds are skewed around 10% in the bookmaker’s favour. This is natural, and we accept this as part of running the business.
Crypto bookmakers, though, are far more transparent, and thus far fairer in this sense. Their edge is generally as low as 0.5% and can even be lower.
So, when you are engaging in in-play betting with crypto, you know instinctively that the bets you’re making are fairer to begin with. Thus, you can make impulsive and fast bets without needing to spend as much time thinking about them. Compared to traditional bookies, the odds are already much more in your favour.
Crypto has many advantages to all kinds of betting, but it’s clear that in-play betting benefits in unique ways that other types of online betting don’t as much. It’s really all about speed and efficiency—you can make minute to minute transactions and bets, without worrying about your money getting tied up in failed transactions.
You can keep up with the action of a game while claiming your bet and cashing out as soon as you like. Everything is fairer, so you don’t need to worry about making the wrong bet as much as you can think about making the right one.
In-play betting is clearly going to be revolutionised by the crypto bookmakers, in more ways than one.
