Hundreds of billions of dollars are being bet at sportsbooks annually. At times, bettors win huge sums of money against all predictions, but the people behind these sportsbooks are not so eager to part with the money and may come up with various excuses not to pay out what is rightfully won. They claim that there has been some mistake in generating the odds or delay the payment over the banking system. So, quite naturally, if you are planning to invest into sports betting, you want to be sure that you will not be denied your winnings or go mad while waiting for them. That is why there is a tendency to choose blockchain sportsbooks over regular ones, as this technology instills trust and security they seek.
Blockchain Sports Betting in a Nutshell
Blockchain technology is the answer to both bettors and sportsbook owners’ desires. The former get instant payouts the very moment the results are known, and the latter have a decentralized network serving their needs, making sure all operations are performed properly and every transaction is recorded.
Besides introducing an unprecedented level of transparency to the world of sports betting, the use of blockchain makes the whole process simpler while keeping it stable. On top of it, this approach is significantly cheaper, and sportsbooks use this as a promotional opportunity by offering visitors very attractive odds, as well as special offers, bonuses, and regular promotions.
Tips on Choosing a Bitcoin Sportsbook
Below you’ll find several important factors to pay attention to when selecting a site for Bitcoin sports betting.
Fees. While Bitcoin transactions come with zero fees, it does not mean that a sportsbook won’t charge you anything for depositing or withdrawing your winnings. This is something you should check to avoid unpleasant surprises.
Accessibility. The legal status of Bitcoin is still subject to change in various countries and states. So, that’s what you need to find out before examining some site too closely. Make sure your place of residence does not imply any restrictions on the services a sportsbook offers to its clients.
Mobile compatibility. When it comes to entertainment, which sports betting certainly is, many people prefer using mobile gadgets nowadays. As a rule, a top cryptocurrency sportsbook will have a well-optimized app or at least a mobile version of the site. Not all features can be available in this case, however, so that is something to be checked with each site individually.
Anonymity. One of the most favored perks bettors get using Bitcoin is anonymous transactions. To send or receive crypto coins, all they need to share is their wallet address. However, some sportsbooks may be pursuing Know Your Customer policy, still requiring your personal details for ID verification.
How to Have a Great Experience with Bitcoin Sportsbetting
As you can conclude yourself, it’s crucial that you do your own research when choosing a BTC sportsbook. There are multiple reviews, including ours, that will make the task easier for you. All you’ll have to do is draw up a short list of the most important requirements a sports betting site should meet, and check the list of the top Bitcoin betting sites to see which ones pass the test. Using cryptocurrency and betting sites that utilize the blockchain technology has some outstanding advantages for bettors, but it would be difficult to enjoy them if you come to a wrong place and get a bad impression from the start.