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Using Bitcoin (BTC) for Sports Betting in the US

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Sports betting has been around for as long as sports themselves, and this activity has been a large part of many cultures around the world. When it comes to the US, however, sports betting has had a long and complicated history. A lot of states have proclaimed sports betting an illegal activity due to fear that it would lead to degradation of society.

Even so, a significant number of states still allow betting on sports, including Nevada, Delaware, New Jersey, Pennsylvania, West Virginia, Rhode Island, as well as Mississippi. There are also a few states where betting isn’t exactly made illegal, but the laws are not as clear as to say that making bets is perfectly acceptable. The state of New York is the best representative here.

Some states tried to bring bills that would legalize sports betting, but these bills have yet to become official laws. These include Michigan, California, Connecticut, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Missouri, Ohio, Oklahoma, and South Carolina.

And, finally, there are states where betting is illegal and no attempts to change that have been made to this day. Those are Washington, D.C., Alabama, Alaska, Arizona, Arkansas, Colorado, Florida, Georgia, Hawaii, Maine, Idaho, Massachusetts, Montana, Minnesota, Nebraska, New Hampshire, New Mexico, North Dakota, North Carolina, Oregon, South Dakota, Texas, Tennessee, Utah, Virginia, Vermont, Washington, Wyoming, and Wisconsin.

While it is obvious that a large part of the US has not taken action to make sports betting a legal activity, the rest of the states have either legalized it or attempted to do so. This is due to the fact that the point of view regarding this activity is changing. A lot of states are having economic and financial troubles, and sports betting could make a large difference. Since it is not legal in a lot of countries, betters have been known to turn to illegal betting, with this market being worth around $150 billion per year. If this money were to go to the states instead of those who are organizing illegal betting in the US, things would have been a lot different for some of these states.

Bitcoin and sports betting

Despite the fact that a lot of states do not support betting, new ways of making bets are emerging all the time. With the appearance and constant progress that the cryptos are making, they were bound to infiltrate this branch of business sooner or later. However, this is not necessarily a bad thing.

Sports betting can often be a shady business, which is why so many states are against it. However, a lot of cryptocurrencies are known for their decentralization and transparency, which might almost guarantee that the shady part can be eliminated from the process. This might be a real game changer when it comes to the legalization of these activities, and the online betting has changed a lot since cryptos were introduced. The interest in betting has started to grow again, and even the Supreme Court ruling has shown interest in connecting cryptos to betting activities.

While this technology is still limited when it comes to real-world use cases, many bookmakers have already started to accept it. Slowly but surely, Bitcoin is transforming, and in a lot of ways revolutionizing, the world of sports betting. There are already numerous sports betting websites that allow the creation of anonymous accounts from any part of the US, and even the world.

Bitcoin’s nature allows for instant processing of deposits and withdrawals and betters no longer have to wait for weeks to get their money. Various fees are also reduced, which leaves more money for the better.

So, thanks to Bitcoin, betting can become decentralized and transparent, fast, anonymous, cheap, and instantly available. With the right guidance, this can make a lot of money that can go to improving the conditions in some of the US states, which is why many are hoping that betting will spread even more and that it will pull cryptos into the mainstream with it.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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