The casino industry is a highly competitive one that quickly adopts new technologies. Many casino sites were quick to embrace cryptocurrencies as a legal form of payment.
The introduction of cryptocurrency to sports betting has completely modernized and transformed the industry so much that cryptocurrency has become the preferred means of payment. In fact, most now would rather make transactions with it to ensure a better gaming experience.
Cryptocurrencies have been used in sports betting for some time now and although it was first accepted with mixed reaction, however, due to its digital nature it has been doing quite well.
Since its introduction cryptocurrencies have been just great for sports Betting; it has eliminated most of the payment challenges.
Some succinct factors to consider when picking a casino site that accepts cryptocurrencies are Reliability, multilingual customer service, best odds, and rate of success.
Should you choose crypto casino sites over crypto Sports Betting sites
Although sports betting is more popular because you don’t need any skills or expertise in any game, all you need is a good gut and lots of good luck. Casino gaming on the other hand requires particular expertise in a game, and your odds of winning depend solely on you. Thus, sports bettors have a better chance of winning than casino games but some people still stick to casinos for the thrill and excitement they get from playing.
How many people bet with cryptocurrencies
It is too easy to tell how many people bet with cryptocurrencies because crypto transactions are encrypted. However, over the years, sports betting sites have recorded increased crypto transactions.
During the 2018 world cup, for instance, many people placed bets on the matches played, however, people who were based in countries where gambling was illegal found a way to place bets using cryptocurrencies.
Besides, it is recorded that in big gambling markets like Australia, the majority of gamblers play online pokies with cryptos.
How to bet with cryptocurrencies
There are two major steps you will need to take if you intend to bet with cryptocurrencies. The first step is to pick a suitable betting site that accepts your cryptocurrency. Once that is done, the second step is to set up an e-wallet where you will keep your cryptocurrency and from which you can make deposits and withdrawals to and from your bookmarker.
As soon as you have set up and funded your wallet you can begin placing bets normally as you would normal currencies.
Bettors who bet with cryptocurrencies enjoy several benefits, The first of which is privacy and anonymity. Betting with cryptocurrencies means you don’t have to provide any personal information; this is good for bettors who have reason to remain anonymous.
Faster Deposits and Withdrawals
Another advantage of Betting with cryptocurrencies is faster deposits and withdrawals. Other payment methods often require some time to process the transaction but you get instant payment with cryptocurrencies.
The major disadvantage of crypto sports betting is instability, thus if you are betting with cryptocurrencies you have to play both the role of a gambler and a crypto trader at the same time.