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The world of online gambling has been on a steady adoption of innovations, most of which have become absorbed into the fabric of gambling. It significantly came with the migration to online gambling from core traditional gambling. Today, we have a great number of punters wagering online and on the mobile applications of sportsbooks.
In the same vein, this wave of innovations has completely changed the way payments are made in the gambling industry worldwide. From electronic wallets to instant transfers and wire transfers, the trend has reached cryptocurrencies. As a result, many sportsbooks in several parts of the world have opened their doors to cryptocurrencies. This post will take a look at the different major cryptocurrencies accepted on bookmaking sites.
Top cryptocurrencies preferred by sportsbooks
Bitcoin is the most popular cryptocurrency around the world, with a current market cap of over $600 billion at the time of writing. Best Bitcoin bookmakers has rapidly increased all thanks to bitcoin, which many sportsbooks in Europe, Asia, and other parts of the world have adopted.
Players simply have to select the bitcoin option with the sportsbooks and deposit the bet amount from their wallet. This means that the player should have created a blockchain account with a broker, on whose platform a wallet is generated for betting. Some crypto-first sportsbooks also offer bonus promotions in bitcoin in a bid to attract more bitcoin lovers. In the event of a win, the winnings are also credited to punters’ accounts in bitcoin.
- Ethereum
Ethereum is also a popular cryptocurrency on the blockchain network that allows people to make safe, secure, and convenient transactions. With particular regard to gambling, many punters who prefer the relatively lower volatility of Ethereum are adopting it fully. We have noticed that some sportsbooks select the kind of betting markets on which punters can bet with Ethereum.
Such markets are the most popular competitions, which players will likely have great interest in. For instance, sportsbooks allow Ethereum deposit and withdrawal on competitions like UEFA Champions Leagues and Europa League, EPL, Bundesliga, NBA, European Championship, La Liga, among others. This careful selection and adoption of the cryptocurrency has improved its popularity on many popular sites.
- Litecoin
Litecoin has become an alternative coin that many punters resort to gamble and have fun. Similar to other cryptos, Litecoin is focused on making the whole concept of gambling better. In this regard, you could find many betting sites that offer Litecoin as a deposit method. You have to operate a wallet to hold and bet with this coin as well.
- Binance Coin
If there any such thing as the most promising cryptocurrency for betting, Binance Coin has a claim to that. Binance Coin is a cryptocurrency created by Binance, a crypto exchange platform, which started as a native token on the platform. The coin has rapidly increased in significance, as several online betting platforms have begun accepting it as a method of depositing.
One of the coin’s coolest features is that it’s been made available for several top games and competitions. So you could as well plan to have it on your crypto betting list soon.
- Bitcoin Cash
Bitcoin Cash is a spin-off of Bitcoin. Betting markets are provided for this crypto coin and it has so far helped in reducing the pressure to hold bitcoin on some bettors. On several betting sites, players can bet on top competitions and grab some promotional offers using this coin.
- Dash
Dash is an alternative coin that has a decentralized operation. Hence, you can easily use it to initiate and complete a wide range of transactions at once in a fast, secure, and protected manner. Just as the payment is seamless using this crypto, it’s also wonderful to bet with it. The number of crypto-only and hybrid bookmakers offering payment via this platform is increasing. And just like the others, welcome bonuses, sign-up bonuses, deposit bonuses and more are being offered in this Dash. You may also grab one by searching for such sites on the web.
Why bet with cryptocurrencies?
- Convenience
How convenient is it to deposit and withdraw your winnings from a bookmaker using traditional banking methods? I bet you have probably had a not-so-pleasant experience with traditional banking methods. And that’s what crypto betting has greatly improved in the betting world. you can withdraw your winnings instantly as well as make deposits smoothly.
- Security and protected transactions
When you transact using cryptoassets, the business stays between you and the sportsbooks. Therefore, the tendency that a third-party financial institution will be privy to your transactions is reduced. Also, these payments are highly secure and protected from the time of deposit to the withdrawal of your funds. This makes it possible for you to make withdrawals as you wish.
Conclusion
Cryptocurrencies are the future of gambling, and with their widespread adoption, it may not be long before they become the norm. We have highlighted the top cryptos that are accepted by bookmakers around the world. Hence, with careful attention to these coins, your gameplay experience could be far better in terms of convenience, low or no transaction fees, security, and in most offshore betting, no taxes on winnings.
Featured image via Unsplash.
