If you are familiar with sports betting, you know what kind of problems you might face while placing bets. Even though the standard currencies might be more widely accepted, it might be time to check an alternative solution. How about cryptocurrencies?
Today, Bitcoin has become the top crypto in the world. But it’s not the only option you have at your disposal. BitTorrent, Ethereum, Ripple, and many other cryptocurrencies have already taken a strong position in the world of digital finances. Of course, not all of them are supported by gambling sites. They are accepted as a form of payment locally..
The relationship between eSports betting and cryptocurrency is getting stronger and stronger. Due to the virtual currency’s encoding, simplicity, and clearance, it happens to be a perfect solution to safe payments. But there is more to know about it.
Is eSports Betting with Bitcoin Possible?
Betting on eSports using Bitcoin and other cryptocurrencies has become a real deal. Some eSports betting platforms like the one from betnow review accept Bitcoins for deposits, while others tend to accept different digital currencies as well. Which cryptos are accepted and how they are managed varies from one platform to another.
The positive aspects of eSports betting with crypto include anonymity and quicker payouts. Getting money out of betting platforms can turn into a serious affair. Some platforms allow crypto bettors to manage their wallet without any problem.
General Idea
Betting with cryptocurrency is basically the same as betting with standard money. This includes a chance to bet on the top video games such as Call of Duty, League of Legends, Dota 2, and many others. The available eSports titles may vary.
Many betting platforms often cover some markets in traditional sports, such as hockey and tennis. Video games have also become a huge tend among bettors. All of these options are quite diverse. Well, the situation keeps changing all the time.
Potential Risks
Online betting and digital currencies are two fast-developing areas. They haven’t been fully regulated yet. So, there can be some unpleasant surprises.
The legality of online eSports betting may vary from one country to another, and from one bookie to another. The constantly changing regulations may cause some inconveniences when bookies and bettors don’t know how to act in particular situations.
Cryptocurrencies have demonstrated ups and downs in regards to their exchange rates. It makes it difficult for a gambling platform to estimate the value of bets and winnings. There is a need to monitor the crypto values every day to adjust the bets and payouts to the current situation. This is why it is highly recommended for bettors to bet with crypto in those periods when the crypto market has relative stability.
Safety Concerns
Betting with cryptocurrency is safer than betting with traditional money. There are problems when it comes to any kind of online gambling. This includes concerns over scams, which are largely addressed by basic safety measures.
When it comes to online eSports betting with crypto, you can make a deposit without revealing your personality. Everything can be done anonymously. The only nuance is that not all cryptocurrencies are supported by all betting platforms.
If you already have a digital wallet, you will easily place your first bet on any tournament you are interested in. Just check out how much can you bet on the selected cryptocurrency! After all, betting one Bitcoin is going to be too much for a single bet.
