It is by now rather clear that cryptocurrencies have invaded the sports betting industry (and of course the generic online gambling industry) and that there is growth in both supply and demand for crypto betting.
On the one hand, more and more bettors across the world have realized the potentials of cryptos and they want to use them in their wagers. In Europe, the Austrian betting market is experiencing such a growth, which in turn is reflected on the betting providers, with more and more online bookmakers - found at https://allbets.tv/at/bookmakers/ - expanding their agendas when it comes to currencies accepted.
And on the other hand, there is growth in the supply, with crypto betting sites not only making their appearance in the market, but also growing in number at a considerably fast rate.
It is by now, also, clear that cryptocurrencies such as bitcoin, ethereum, litecoin and other popular virtual currencies, offer comparable advantages to bettors. These advantages mainly have to do with transparency, anonymity, speed, safety, ease, convenience and lower fees charged.
Surely, as the time goes by, sports betting with bitcoin will become more popular than it already is today. And if you’re one of those bettors who want to get an idea then you should probably try it out.
One very confusing thing when we are talking about bitcoin (or any other cryptocurrency) betting has to do with what is actually wagered. You need to know that -at least for now - crypto betting means betting with cryptos and not on cryptos. So, bitcoin becomes the currency of transaction!
Punters can use bitcoin as well as other cryptos in the following ways:
* Bet with bitcoin on crypto sportsbooks
It is a mere fact. Online bookmakers and betting sites are stepping into the crypto industry. There is today an expanded list of platforms accepting crypto currency payments, along with the other traditional payments such as fiat currencies or credit and debit cards.
So, if you want to use bitcoin for sports betting you can turn to sportsbooks and sites that enable you to do so by accepting crypto transactions. It is quite easy today to find such betting sites, considering that the number of bookies turning also to cryptocurrencies is continuously growing.
* Bet with bitcoin in P2P betting platforms
Peer-to-peer betting platforms are blooming lately. From the onset of the first peer-to-peer betting sites until today, where social media and social networking sites have truly changed the way people interact with one another, such platforms are in fact in blossom. Social media have been conquering the world of sports in all its facets, with teams and athletes, bettors, bookies and every agent of the betting ecosystem being continuously ‘wired’.
In peer-to-peer betting platforms, bettors bet against one another instead of betting against bookies. They sell and buy bets. And interestingly, such betting platforms are not only gaining an increased share of the market, but they are fully aligned with the market trends as well.
You can find such platforms, where you can place wagers not with traditional money, but with digital assets such as bitcoin and ethereum.
* Bet with bitcoin through crypto exchanges
Although cryptocurrency exchanges are not the designated platforms for sports betting, there are some exchanges that allow you to bet on sports as they have specific sports betting features. It is expected that in the very near future more and more exchanges would provide this feature and will get crypto betting deeper into the mainstream.
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