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Advantages of Betting with Bitcoins

Advantages of Betting with Bitcoins
Written by
Alex Carlson
Published on
February 6, 2020
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The Basics

Just about everyone has heard of Bitcoin, the leader in digital currency, but not everyone really knows how to get it, how to use it, or even where to use it. Those who are educated and informed about Bitcoin understand that it is simply another way of exchanging “money”, except this isn’t hard currency, it is digital and that’s where the head-scratching begins. But it’s not all that complicated once you know the basics. A Bitcoin has a certain value, and just like a stock, that value can increase or decrease. As of this writing, one Bitcoin is worth nearly $9700 but that can fluctuate and often does. In order to get into the Bitcoin market, we need to know how to buy one, much the same as we would buy anything else. In order to purchase a Bitcoin, we have to sign up for a Bitcoin wallet. If you have a credit card handy, then you’re in business because Bitcoin exchanges accept Mastercard, Visa, and even American Express while bank transfers and debit card will also do the trick. Oh, and you don’t have to buy a full Bitcoin because most people don’t have the cash to buy what equates to a decent used car, therefore, it can be purchased in much smaller increments. At some point, unless you’re a holder (those who hold on for dear life their cryptocurrency and never sell), you might want to cash out of Bitcoin and that’s as easy as buying it. Just like a stock, those Bitcoin exchanges like Coinbase or Kraken where you bought them will also liquidate them and send you the cash. It’s as easy as that!

Betting with Bitcoins

Before we discuss the ease in which betting with Bitcoins can be effectuated, we should talk first about which online sportsbooks accept Bitcoin to use because they are not all created equally. There is a valuable resource available to anyone who likes to wager a few bucks, or a lot of bucks, on the outcomes of sporting events. And the best part is, it’s not only easy to access but free to use at your leisure. Sportsbook Review has been a sports betting industry watchdog for decades that acts as a vetting system for the good, the bad, and the ugly of online sportsbooks. Just like teachers grade students’ papers, Sportsbook Review (aka SBR) grades sportsbooks from A+ to F and even has a blacklist that delineates the worst of the worst.Let’s talk specifically about the best online sportsbooks in the world. These are the offshore shops that make it easy to deposit but more importantly, easy to get paid. Even the blacklist books will make depositing seamless but getting your money out can be another story entirely. The A and A+ rated sportsbooks also offer a plethora of wagering options, ease of navigability, and an interface that is aesthetically pleasing. It’s hard to understand why anyone with knowledge of this database would blindly deposit into a sportsbook that they haven’t researched. Would you buy a car without knowing what it offers other than the presumption that it will get you from A to B? Of course not, so let’s identify those sportsbooks that have been vetted and deemed superior to all the others according to Sportsbook Review.The Fab 5 of sportsbooks is, in no particular order but all A+ rated, the following: Bovada, 5Dimes, Heritage, Bookmaker, and BetOnline. Only half a click below, yet still exceptional are A-rated sportsbooks such as YouWager, WagerWeb, Intertops, SportsBetting, JustBet, SportBet, VietBet, and GalaxySports. Now that you know the elite in the industry you should also know that each and every one of these concerns accepts Bitcoin. If you are a United States resident and have attempted to deposit with a credit card then I am certain you are aware of the difficulties, check that, impossibility, of executing that transaction. The US government has instructed financial institutions to deny credit card deposits at online sportsbooks not located in the States which means betting with Bitcoins is now more critical than ever. The bottom line is to get acquainted with Bitcoin, and if you are going to wager online then make sure you choose wisely because it’s one thing to sweat the game but never the payout!

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