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It seems like BTC is always making headlines for one reason or another.
When the market points towards bullish behavior Bitcoin is all the rage. When there is so much long action (going on right now) and then the price plummets, BTC also dominates the headlines. The same goes for legislation and when any new crypto product or platform comes out. It’s always compared against BTC.
So with BTC fever in full swing, sportsbooks around the world have adopted digital currencies as one of their main forms of funding accounts and paying out winnings. And with sports betting legalized in states across the USA, both BTC and legal online gambling are in the limelight.
But where are the best places to bet using BTC and other cryptos? Furthermore, why would you want to use BTC, LTC, or Ethereum in this manner?
The principal reason why you would want to use cryptocurrencies in your ‘sports investing’ ventures is speed, cost, security, and bonuses.
When you use cryptos like BTC (BTX) to move money in and out of your account. You bypass the standard centralized banking system which drastically improves on both the speed of the transaction and the cost of the transaction – this is especially true with payouts.
Essentially, you can get your money into your account much faster – which comes in handy if you are opening up a new account because that particular shop has a better betting line than most of the competition. Conversely, because you are not subject to international bank transfer fees when dealing with an offshore book, the transaction is much, much cheaper. It’s for these reasons that most sportsbooks charge a withdrawal fee for normal payment transactions and they can take up to a week to place your winnings into your account.
With BTC this happens in a matter of minutes and there are no payout fees. This leads us to security. It takes a long time to fund and withdraw because the sportsbook has to verify exactly who you are and make sure there is nothing fraudulent going on. The bank then does the same. In contrast, BTC is set up on blockchain, which makes fraud virtually impossible. So, the money simply goes from wallet to account or account to wallet in as little as 12 minutes.
— The Tech Journal (@TheTechJournal) February 10, 2020
But what about Bitcoin’s volatility?
With sportsbooks, you don’t have to worry about BTC’s volatility. When you purchase coins and add them to your wallet if you immediately transfer them into your bookmaker’s platform, the book will instantly convert the BTC into Dollars/Euros/Pounds –depending on the book. So, you avoid the possibility of a BTC market-fall. This means that not only are your transactions secure on the blockchain, making it virtually impossible for you to be cheated by the sportsbook, or for you to cheat the sportsbook, but you don’t have to worry about BTC market because you are always going to get the current market equivalent in you preferred currency.
The bonuses are great as well because many sportsbooks offer extended or additional bonuses for using BTC to fund your account – up to 100% cash on your deposit amount.
Most major sports betting websites now accept BTC. So, if you are looking for where to place bets with Bitcoin, you won’t have to look very hard. That said, some sites are better than others and we’ve whipped up a shortlist for of the best BTC-ready sportsbooks that are confirmed to convert and hold your crypto deposits in USD.
Bovada is an A+ rated site with just a $10 deposit minimum and a 50% cash bonus.
Bookmaker has been around since the year 2000, and they offer a 100% cash bonus with a minimum deposit of just $10 or the BTC equivalent.
5Dimes is another long-standing book that’s been in business since 2000. They have a $100 dollar minimum deposit, but no maximum on their payouts.
BetOnline allows $3500 payouts per transaction and offers 50% free play on a minimum deposit of $20.
Heritage has a $25 minimum BTC deposit and no max payout. And they offer 50% cash bonuses on your overall deposit amount.
There you have it. Why you should use cryptocurrencies for your sports betting ventures and where to do so. Have fun, and remember to pick your spots wisely and bet with caution!
Read more at https://globalcoinreport.com/5-best-places-to-bet-with-bitcoin/
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