Why Bettors Love Crypto Gambling?
Cryptocurrency has taken the world by the revolution in more ways than one. With the advent of blockchain technology, almost every sector witnessed a surge in the demand for digital currency. Since it is designed to be free from any influence from central authorities, cryptocurrency facilitates users to make independent transactions securely and anonymously. No wonder it gives them complete control over their transactions, which is immensely beneficial in online betting.
In the countries where sports’ betting is still prohibited, the online gambling industry is controlled by government regulations. Consequently, many bettors often resort to offshore sportsbooks and games. However, fiat funds can be a major dampener when indulging in the gambling world with an offshore sportsbook. Cryptocurrencies, on the other hand, are universal, thus eliminating the hurdle of currency conversion and other barriers imposed by banking policies.
Crypto gambling is also safer than ever, as online payment activities are safeguarded by confidentiality and anonymity. So you won’t have that nagging feeling of being monitored every time you transfer money online. It hardly comes as a surprise that punters are nowadays much more inclined towards bookmakers that accept bitcoin as a method of payment. In fact, a report by Globe Newswire suggests that the world sports betting market can hit $155 billion by 2024. Needless to say, cryptocurrency can catapult this industry to greater heights, by making sports betting more beneficial to all parties involved.
Let’s take a closer look at why bettors love crypto gambling:
- Cutting-Edge Crypto Technology: thanks to a high level of encryption and transparency, cryptocurrencies have fast climbed up the popularity charts as an accepted means of online transactions. The peer-to-peer nature of cryptocurrency makes it easy for users to make payments as well as receive the same from anywhere in the world. This is mainly what differentiates cryptocurrency from traditional fiat, which is regulated by the government and banks. Besides, crypto can do away with the need for middlemen and also minimises the fees you have to pay for every transaction. This ensures that you can deposit more to enjoy cryptocurrency gambling without having to pay higher fees.
Third-party payment processing companies are typically accompanied by downtimes which might lead to declined payments. This can be quite frustrating if you need to top up your betting account urgently. However, online gambling with cryptocurrencies is far smoother, as it keeps the challenge of payment processing from third parties at bay.
- Fast Transactions: crypto payments are accompanied by minimal waiting time and negligible transaction fees. This is a major incentive for gamblers who are into frequent online fund transfers. This feature is also handy for international transactions, ensuring that transactions are completed hardly in a few minutes. With various online payment systems available, bettors no longer have to visit a bank or store physically. Internet access is all you need to send and buy your coins on the go.
Additionally, while transactions with credit cards or net-banking incur extra charges, with bitcoin, you can bid adieu to such additional charges, which are not only unfair to the customer, but often outrageous. There’s in fact no conversion fee involved to convert bitcoin into USD in a casino.
- Safety and Security: the integration of blockchain technology in cryptocurrencies is equipped with a consensus protocol that is managed by nodes and miners. Consequently, there is hardly any room for issues such as hacking or double-spending in online casinos. Once the transaction is verified, there is no scope for alteration or modification. It is an irreversible process, ensured with a two-factor authentication on an Internet account. The details of the exchange are open for public review, but the sensitive data are absolutely safeguarded with cryptography.
- Anonymity: all transactions in crypto gambling are anonymous, and hence cannot be tracked by any bank or financial institution. No wonder gamblers can make large deposits that would otherwise have caught the attention of third-party verification. This is conducive to bettors in countries where the very activity of gambling raises eyebrows and can also take a toll on one’s financial credibility when it comes to applying for loans. Since the cryptocurrency blockchain protects the user identity anonymously, no one can track your bets, and it is also protected from online hacking.
- No Geographical Limitations: the concept of cryptocurrency in bitcoin gambling sites revolves around a decentralized network that guarantees uninterrupted transactions from any part of the world without involving red tapes. You can send or receive crypto payments from anywhere without having to worry about the restrictions of the country of origin or destination. Needless to say, this widens the scope massively for bettors.
- Better Promotions and Bonuses: Bonuses basically refer to welcome gifts or rewards for signing up with a sportsbook. Most crypto sports betting portals offer much more enticing bonuses and promotions for bitcoin games as compared to traditional betting sites. This is mainly because cryptocurrency brings down operational costs, and these platforms are keen to establish a significant presence in the market.
- Better Odds: Most sports betting websites and online casinos that accept cryptocurrency offer better odds than the common sportsbooks. Besides, they also promise smaller wagers, especially in the initial stages, to attract the maximum number of players.
- Easy and Straightforward Registrations: most crypto sportsbooks are extremely particular about privacy, which is why they do not ask for too much information when you are creating an account. For some, all you need to provide is your contact number and email id to get started. These platforms know that having to furnish too many details can dampen the enthusiasm of bettors. Who likes to spend hours verifying their online casino accounts before they can actually start to place wagers?
- No Fear of Rejection: being decentralized, cryptocurrency does not involve third-party authorization to make transactions. This means it will not be rejected at any point. All transactions are guaranteed through established contracts whenever bettors make deposits or withdrawals, without bringing any banks in the picture. When it comes to moving Bitcoin and other cryptocurrencies from one account to another, it is also easier as compared to other types of payment options. What’s more, it is not subject to interferences that can stall the deposits or withdrawals.
- Price Volatility Defense: since your Bitcoin deposit is immediately converted into USD on sportsbooks, you are less vulnerable to the factors that may affect cryptocurrency. If you are familiar with crypto gaming you’d know that Bitcoin comes with a fluctuating price, which can be a cause of concern for bettors. However, once you’ve invested in an online sportsbook in the form of bitcoins, they are immediately converted into US dollars. When you want to withdraw them, they will be transformed into BTC in your account.
Why BTC365 Is Your Go-To Crypto Casino
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