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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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