What are the Benefits of Sports Betting With Crypto?
Cryptocurrencies are still largely misunderstood by the wider world, but they have become incredibly popular in the world of sports betting. An increasing number of online sportsbooks are accepting Bitcoin, LUNA, and other cryptocurrencies, and for good reason. It turns out that there are plenty of benefits of sports betting with crypto, and we’re going to take a look at what some of those benefits are.
Security and Privacy
One of the biggest benefits of cryptocurrency in general is that it provides levels of privacy that traditional currency does not. Cryptocurrencies are unregulated, which means people have more control over their funds as they bet on sporting events.
Higher Betting and Withdrawal Limits
This will vary from one sportsbook to the next, but most books allow gamblers to place larger bets and make larger withdrawals when they bet with crypto. You still need to use some common sense and not get too carried away, but if you have the money to spend and you don’t want to be restricted by betting limits, crypto is often the way to go.
Faster Transaction Speeds
Sports betting with crypto also allows you to place bets and withdraw funds faster than with other forms of currency. Most online sportsbooks are generally pretty fast when it comes to finalizing transactions, but withdrawing funds can still take a while when you factor in banking and security regulations. On the other hand, you can deposit the cryptocurrency of your choice and place bets with it as soon as you have it in your digital wallet. Naturally, sportsbooks can get your winnings directly to you just as quickly.
Online sportsbooks offer bonuses and promotions all the time. Many of these are available to anyone who wants to place a bet, but there are plenty that are exclusively for those who are betting with crypto. If you know where to look, you might just make more money on bonuses simply by sticking with crypto when placing bets.
Finally, betting with cryptocurrency is generally less risky than betting with traditional money. Crypto is notoriously volatile, and there is always a risk involved when you’re trading it, but many online sportsbooks will convert your cryptocurrency to US dollars when you place your bet. This alone shields you from any volatility that is associated with crypto. Naturally, you still need to be careful whenever you place a bet for anything, but at least you won’t have to worry about the value of your winnings suddenly dropping after you’ve won a major bet.
Cryptocurrency is continuing to change the global economy in many ways, especially when it comes to sports betting. While betting with US dollars and other currencies probably won’t be going away anytime soon, there is a reason why so many online sportsbooks have embraced crypto. You’ll still have to do your own homework to find a sportsbook that makes betting with crypto worth your while, but the good news is that you most likely won’t have to look very hard to find one.