Advantages and disadvantages of sports betting and eSports with crypto

Cryptocurrency is the same payment instrument as fiat money, but it is expressed in digital terms. Considering that bitcoin and other electronic currencies have been breaking records lately, this money is decentralized, and their value is determined by market demand, many online bookmakers have begun to accept bets in digital coins. One of the most reliable and popular betting shops in crypto is SportBet. The platform is based on the EOS blockchain, which guarantees that each bet with crypto will be fair, safe, and the winnings will be withdrawn quickly in any way convenient for the client. The rating platform will surely attract the attention of betting fans who have accumulated cryptocurrency in their wallets.

View here to learn more about bit casino.

Benefits of cryptocurrency betting on sports and eSports

The wide popularity of cryptocurrency betting on sports and eSports events is due to a wide list of advantages of this type of betting. The main advantages include:

  • Confidentiality and anonymity. Digital monetization provides complete privacy, as the wallet user does not indicate his personal information anywhere.
  • Minimum commission or its complete absence. The commission for conducting financial transactions is charged only by the blockchain, there is no commission on the company’s websites.
  • Favorable limits for balance replenishment and withdrawal of winnings. Bookmakers cannot set limits in huge amounts, as is the case with conventional currencies.
  • Fast financial transactions. Since monetary transactions in bitcoins and other cryptocurrencies take place without the participation of intermediaries, the money comes to the account almost instantly.

There are also non-obvious advantages that bettors who prefer to bet in crypto take into account. Many betting sites prioritize customers with cryptocurrencies. Due to the savings, the quotes here are slightly higher, technical support responds faster. Thanks to privacy, the player does not have to pay taxes.

Cons of Using Cryptocurrency for Sports and Esports Betting

Even considering that betting with crypto is always more profitable, safe, and convenient, this type of betting has several disadvantages. Since cryptocurrency is a new concept, its rate is constantly subject to volatility and jumps a lot. Thus, the better’s winnings can be reduced to a minimum or zero due to the depreciation of electronic money. You should also consider conversion. When replenishing the game balance in the crypt, the exchange for ordinary money takes place at the rate of the office, and not at the official rate, which may entail some costs. Betters who prefer to bet in e-currency should be aware of the irreversibility of transactions. If a dispute arises regarding money, it will be difficult for the player to prove the ownership of the funds.

In the field of cryptocurrency betting, fraud is quite common. Front offices and dishonest exchangers do everything to take over the finances of a beginner. That is why it is important to place bets only on trusted sites. One of the most reliable bookmakers is Sportbet. The rating bookmaker has an impeccable reputation and offers users comfortable conditions for cryptocurrency betting on sports and eSports in pre-match and live.