How to Use Cryptocurrency Sports Betting

Published

4 years ago

June 5, 2020

The advent of cryptocurrencies revolutionized virtually every industry, including online gambling. Although the cryptos were initially volatile and a reserve for high-risk takers and speculators, they have stabilized and are now trusted for everyday business transactions. For instance, unofficial statistics reveal that about 60% of bitcoin transactions are related to betting. However, what are the advantages and disadvantages of crypto sports betting? How do you bet with crypto? How do you choose the right cryptocurrency bookmaker? Here is everything you need to know about it and the best crypto sport betting bookmakers

Advantages of Bitcoin and Cryptocurrency Sports Betting

The anonymity of the user during wallet transfers and account creation among some bookmakers which shelters one from government bans on betting in some countries and some taxes
Higher betting limits due to the instability of bitcoin and other cryptocurrencies
Fast and easy deposits and withdrawals because it is decentralized cash with no intermediaries
Lower fees that are almost negligible as compared to other deposit and withdrawal options
Makes it possible for a user to exchange their crypto that may be or will be banned in their country
Accessibility of the bookmakers globally by surpassing local gambling laws
More significant offers with some sites offering as much as 5 Bitcoins

Disadvantages of Bitcoin and Cryptocurrency Sports Betting

Fluctuations in cryptocurrency value mean that the returns depend on not only bet results but also the crypto exchange rate
Reliability of the crypto sports betting bookmakers that are relatively new is less than the traditional bookmakers
Most bookmakers don’t accept bitcoin, and therefore a user has fewer options to choose from

However, the crypto sports betting industry is rapidly evolving as cryptos become more and more stable, which will reduce the price fluctuations. Nevertheless, if a user is observant enough, they can even make more money from the fluctuations. As more and more bookmakers start accepting crypto, the options will increase, and reliability will become better too.

How to Bet with Cryptocurrency

Even though people think of crypto sports betting as a complicated process, it is as easy as betting with cash. You only have to follow the following three steps:

Find a betting site that accepts cryptocurrency and set up your account
Create an e-wallet for your cryptocurrency on sites like Coinbase and buy crypto
Link your e-wallet to your bookmaker account and transfer cryptocurrency to it which allows you to place bets the usual way

How to Choose the Right Crypto Sports Bookmaker

A quick search will reveal quite a vast number of bookmakers who accept cryptocurrency. However, one may end up having issues with deposits or withdrawals if not careful. The worst scenario is losing the cryptocurrency or being conned. Here are some factors to consider before settling for a bookmaker:

Security

The first is the security of the money. How secure is the site? A company that takes the security of its users’ money will be obvious. Check out their reviews on sites like smartbettingguide.com to establish how secure they are for you. Establish its legitimacy before you think about betting with them.

Banking Options

A site that accepts the kind of cryptocurrency you have is the best choice when it comes to this factor. Bitcoin is the most common cryptocurrency option. However, there is Etherium and many other cryptocurrencies that you can use. Some sites have PayPal, MasterCard, and other bank transfer options.

Bet Markets

Ensure a bookmaker has the bet market you enjoy betting in, or else you may end up betting on sports about which you have no idea—the more varied the markets, the better the bookmaker. The best bookmakers have a vast number of bet markets to allow their users to bet all year round without having to wait for a particular season to begin.

Offers

Finally, the kind of offers available is a good determinant of what to go for when choosing a crypto bookmaker. There are welcome bonuses, deposit bonuses, and many other offers to enjoy when you opt for the right site.

Top 5 Bitcoin Crypto Sports Betting Bookmakers

Nitrogen Sports

One of the perfectly designed betting sites that accept crypto is Nitrogen Sports that offers users convenience and ease of use. Here’s is a quick summary of their pros and cons:

Pros

Anonymous account for your ultimate privacy while gambling
Wide range of betting markets with up to 25 disciplines
A user-friendly mobile version
Has the NFL “survivor pool” event
High odds

Cons

Only accepts Bitcoin

Stake

A neat user interface and variety in markets and cryptocurrency options make Stake.com one of the most popular options available today.

Pros

Anonymous needing only a username, password, and an email address
Seven cryptocurrencies: BTC, BCH, ETH, LTC, DOGE, TRX and XRP
Many bet markets with over 20 disciplines
Social betting with an active public chat and ability to make a bet public
Perfect mobile version
High bets

Cons

No welcome bonus
Unavailable for punters in the US, Australia, and the Czech Republic

1XBET

You probably have heard about the site that has become increasingly popular over the recent past. It offers many banking options, including cryptocurrency.

Pros

Very high odds
Many bonuses and promotions
Variety of bet markets is huge
Many deposit and withdrawal options

Cons

Outdated interface

22BET

Another bookmaker that has been rapidly growing internationally is 22BET. Its variety when it comes to betting is the reason behind its popularity.

Pros

Wide range of betting markets
Has an impressive live betting section
High odds
The deposits and withdrawals are quick
Rapidly growing

Cons

It is not as easy to use as some bookmakers

SportsBet

The final bookmaker in the list is SportsBet, which is well known for its excellence from a legal standpoint. Here is a summary of its pros and cons:

Pros

Great user experience
Wide range of bet markets including eSports betting and water polo
Accepts many currencies including BTC, ETH, LTC, SOC, USD, CAD, EUR, INR
Variety of payment options

Cons

Players from Australia, the US and Estonia cannot use it

Conclusion

Cryptocurrency sports’ betting has changed online gambling by offering enormous advantages for both the punter and the bookmaker. It is an easy way to bet and allows you to enjoy anonymity, higher bet limits, quick deposit, and withdrawals, and lower fees besides other benefits. Nitrogen Sports, Stake.com, 1XBET, 22BET, and SportsBet, are some of the best bitcoin and other crypto sports betting bookmakers.

Image by bianca-stock-photos from Pixabay

Crypto

BNB Price Surges Past $300, Faces Crucial $339 Hurdle: What’s Next?

Published

4 months ago

December 29, 2023

Crispus

BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.

Binance Coin Outlook

BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.

Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD) on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.

The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…

Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

Published

4 months ago

December 27, 2023

Crispus

Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

Published

4 months ago

December 22, 2023

Crispus

Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5^th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama…