Innovations are breaking new ground in all spheres of human life and endeavours.
The more we discover new things to do or venture into, the more we discover more profitable ways to do them–That is innovation.
In this article, I shall discuss the recent innovation in the field of online sports betting– The innovation is cryptocurrencies in sports betting.
When a lot of people deliberate on how harmful technology has been to humans, I personally concentrate on how good it has been to me.
The truth is, everything has its good and bad sides, the same is applicable in cryptocurrencies and sports betting.
The major reason for this article is to lay more emphasis on the factors that make cryptocurrencies more preferable over fiat currency when it comes to online sports betting.
Cryptocurrencies have emerged to be the more recent means for placing bets for online sports. That is to say, Cryptocurrencies have been introduced in use for bet deposits and winnings payments.
A lot of gamblers as well as online sport betting companies have fully embraced the innovation and introduction of cryptocurrencies into online sports bets.
They have come to place a higher preference on the use of cryptocurrencies over fiat currency.
Why crypto is preferred over fiat currency
The use of money for placing better is old and otherwise seen as traditional other than functional in recent times especially since the introduction of cryptocurrencies into online sports betting.
The new introduction of cryptocurrencies into sports betting is quickly dominating the online betting companies as a lot of them have welcomed the system.
This does not downplay the fact that the system has its shortcomings.
But if you ask me, I would say from practical experiences, that crypto is better compared to Fiat money when it comes to online sports betting in the following ways;
1.Ease with deposits and withdrawals.
This is a major reason why a lot of people make use of cryptocurrencies in sports betting.
Knowing fully well that crypto is a digital currency, it won't be difficult for you to come to terms with the fact that everything about it works better and faster including deposits and withdrawals.
A lot of gamblers can testify to this as they have compared both, and have seen the difference in speed.
Every bet including deposits and withdrawals can easily be done at the very comfort of your home.
A real gambler knows how significant time can be in online sports betting.
With digital means, you will have to worry too much as this attends to your needs very fast.
2. Privacy
Privacy is as important as any other factor. Sometimes, much more important. This is because a lot of people do not want to be seen as gamblers, therefore, they desire for means not to be seen or their names heard in the gambling sector.
Cryptocurrency is the only way that can be achieved as one can place a bet without having any iota or trace of his identity. Making use of cryptocurrency in sports betting makes you completely anonymous.
Personally, I love the privacy the use of cryptocurrency has provided in the world of sports. Online sports betting have simply become more fun, and easy when crypto is in use.
3. Easy accessibility
This is more advantageous to countries where sports gambling is prohibited and restricted. With crypto in sports betting, you can reach anywhere you wish to reach. You can place bet, deposit, and withdrawal with the world to notice it– That is the essence of the digital means. Cryptocurrencies prove to be a barrier-breaking in the world of sports.
4. Quick transactions
As mentioned earlier, a regular gambler who have tried crypto betting can testify to the difference between using money and cryptocurrencies for transactions. The former can be frustrating while the latter is deposits and withdrawals made easy. Payment using cryptocurrencies is fast as the snap of a finger.
A brilliant question remains, are cryptocurrencies in sports betting the best option for you?
To give you a better chance of answering the above question let's take a look at some of the disadvantages of cryptocurrencies in online sports betting. Even though the cons are not much, there are still disadvantages of using crypto in sports betting which we have carefully summarized into;
Lacks user-friendliness
Maybe since the operation is still new to some gamblers, it proves difficult for them to understand how to go about it.
The interface alone is discouraging to a novice who do not know about cryptocurrencies, let alone applying them in online sports betting.
If you do not understand the functionality, placing bet, deposits, and withdrawals becomes very difficult.
2. Volatility.
Volatility simply refers to the uncertainty in the world of cryptocurrencies. Where there can be a rise today and a fall the next second.
This volatile nature can be good or bad.
It can be very sad news to gamblers when there is a fall in the value of crypto and their winnings have not been converted to our fiat currency. This will reduce gamblers winning value to nothing.
Final Thoughts
Since it is easier to stay on the safer side when cryptocurrencies are used in online sports betting, we highly encourage gamblers to plunge into the system and make more money from online bets
Not to forget that a lot of online sites and companies that accept Bitcoin and other cryptos offer bonuses, it will then be wise to go for cryptocurrencies betting.
It is also a good opportunity to put to good use a lot of coins that have been stored by investors
The times when selling off coins isn't the best option, it will be best to make use of some of these currencies in placing bets and making high returns.
For the moment it is indeed hard to understand things for no crypto followers. Also there are a lot of sportsbetting crypto scammy sites around.