Long behind us are the dark days of crypto when coins were considered nothing more but an anonymous payment method used by hackers, criminal syndicates, and drug dealers. Today, cryptocurrencies such as Bitcoin have been regulated in most parts of the planet and used by many reputable businesses in sectors ranging from science to gaming. The latter brings us to today's topic, in which we will discuss the top 5 reasons for sports betting with Bitcoin in 2023. Sit back, relax and let's get right to it!
5. BTC is Easy to Convert to Cash
While BTC is widely known and accepted around the world, it's still relatively difficult to use it for your daily grocery shopping or entertainment payments without living in a super progressive city. However, it is one of the easiest cryptos to convert for any FIAT currency you wish. There are many centralized as well as decentralized exchanges that will pair you with someone else looking to buy your coins. With the platforms acting as escrows, you never have to worry about anybody stealing your coin, which makes it more than convenient to use. That's one of the top 5 reasons for sports betting with Bitcoin in 2023, but don't worry, we have more to come.
4. Bitcoin Sportsbooks offer Better Odds
As you may know, the odds determine how much of a payout you'll receive for a lucky pick. Sportsbooks with more active users will start juicing up the lines, and playing there makes it difficult to profit in the end. That's one of the main reasons why some of the world's biggest FIAT sportsbooks have seen a huge drop off in their daily users. The punters of today demand more transparency and value, which crypto bookies offer. That's why the next of the top 5 reasons for sports betting with Bitcoin is the fact of those sportsbooks offering better odds for your favorite leagues like the NFL, NBA, ATP, WTA, UCL, F1, UFC, NCAA, and more!
3. Bitcoin Sports Betting is Anonymous
Don't like KYC verifications? Then you'll love the next of the top 5 reasons for sports betting with Bitcoin in 2023. On large scale, Bitcoin sports betting is anonymous. Many of the blockchain's largest bookmakers won't ask you to send in any documents unless they heavily suspect misplay or abuse of rules. So if you are just a recreational or even a regular punter who looks for a trustworthy bookie, we know where to begin.
2. Cheap Fees
After the SEGWIT protocol update, Bitcoin's blockchain is now a cheap way to move money. With an average fee rate of 3sat/B for priority, you get to send your coins worldwide in minutes. Now, you should always check the current state of the mempool before sending your coins on the way to avoid long delays during higher volume times. But don't worry, even during the highest points in the last few months, Bitcoin users did not have to spend more than a dollar on their sports betting transactions.
1. Bitcoin Carries Big Appreciation Potential due To Scarcity
And last but definitely not least of the top 5 reasons for sports betting with Bitcoin in 2023 is the big appreciation potential! Bitcoin's BTC is a scarce cryptocurrency that has a cap of 21 million units, with 19.1 million of those already in circulation. While the miners work to solve more cryptic puzzles to release more blocks and create the last of the BTC, it makes it a perfect time to use it for your sports bets to win more. Stack up on BTC while it's still cheap to make a bet on Bitcoin's big appreciation potential due to its scarcity! That brings us to the end of this article. We hope you'll find our top 5 reasons for sports betting with Bitcoin in 2023 useful!