An exhilarating regular season has passed, and the NBA Playoffs are well underway as the Milwaukee Bucks look to once again defend their title.
Bettors from around the world are focusing on the odds for NBA championship as well as each individual playoff match.
The sport builds further following during this peak time as the best of the best go up against each other in the knockout rounds.
Most people will continue to bet real money on their sportsbooks as the traditional way of betting. Depositing from your bank account into your sportsbook to then place bets on outright winners as well as prop bets and so much more depending on the provider you use.
The Facts
Today, you will now be able to use most major cryptocurrencies to place bets with selected crypto sports betting sites. Crypto betting has two major advantages to users which are the safety of the transactions and the anonymity and privacy you can enjoy.
In contrast with physical currency, crypto cannot be traced, which often provides the bettor with peace of mind knowing they can make transactions on betting sites with minimal transparency.
Along with these safe deposits, you can often also place higher deposits and withdrawals than in comparison with traditional money transactions with sportsbooks. Cryptocurrency also offer the bonus of being universal, so there is no concerns over the difference in exchange rate if you have USD or GBP to deposit.
It’s also good for the sportsbooks themselves as with no third-party bank involvement, there are no traditional fee’s which come with the depositing and withdrawing of funds. With the crypto being safer with its blockchain technology, the chances of fraud and hacker interference is greatly reduced.
For people wanting to bet with cryptocurrencies, they will be able to do so in the same way bettors do with real money, including Moneyline bets, point spread bets and over/under bets.
Sites like BetUS offer excellent opportunities for customers to use cryptocurrency in the same way you can do with real money. Bitcoin, Ethereum, Ripple and Dodgecoin are all regularly accepted in most good sportsbooks which accept crypto bets.
You can even claim bonuses with some sites when depositing Bitcoin funds to gamble with. Most commonly, the sign-up bonus is used which offers new customers an immediate reward for creating an account and making a deposit.
For customers who want to use Bitcoin, they should check out leading Bitcoin exchange platform where digital coin is accepted and buy it using a transactional method. Once you have the Bitcoin, you’ll be able to use it for sports betting.
From there you can usually connect directly with a sportsbook and pay directly into an account to use of their wide range of sports markets. Just go to a deposit menu and choose the coin you with to deposit from your crypto wallet. Crypto Wallets are an essential tool for storing your crypto currency.
If you’re lucky enough to win, you can withdraw your cryptocurrency winnings easily, straight back into your Crypto Wallet. Please be aware that this process can take up to 3-6 working days to complete.
There are some disadvantages too though which cannot be ignored. While crypto is popular and easy to use, certain countries and localities have imposed restrictions on the use of cryptocurrencies. Not every country allows you bet with cryptocurrency and it is actually illegal to do so in some areas.
Traditional funds like cash, bonds and stocks can be liquified quite quickly, the same cannot be said for cryptocurrencies which does put off many sportsbooks from involving themselves with cryptocurrencies. For the bettor as well, it is worth noting that payments done in Bitcoin cannot be returned, so there are further complications if mistakes are made.
To Use?
For the crypto sports betting sites, they have the issue of not being able to track down corrupt crypto bettors in match-fixing scandals. This anonymity is one of the reasons some countries have made crypto betting illegal.
With the lack of significant regulation beyond the confines of blockchain technology, many sportsbooks, even those operating in areas where crypto sports betting is legal, are yet to commit.
The volatility of the market is still something in which sportsbooks are unsure as to how to manage and powerful analytics and monitoring tools are required for all processes which is an investment some sportsbooks are unwilling to make.
While we live in a world moving closer to having cryptocurrency as a mainstream and fully accepted part of finance, it is still met with concern and caution by many.
For a lot of sportsbooks, the pro’s do not outweigh the con’s, yet with new sportsbooks entering the market and taking on the role as pioneers in this particular form of sports betting, we will no doubt see a shift from the traditional form.
