If you have been paying attention to the news recently then you have probably heard about the incredible growth of the sports betting industry in the eSports audience worldwide, including online betting. More than 20 states in the US have already legalized and launched sports betting and a handful more are set to do the same in 2023.
One of the biggest aspects of the sports betting industry is the banking process, and there are plenty of options available. Crypto transactions are the newest fad hitting the sports betting industry, but this also raises a number of questions from sports bettors.
The most popular form of cryptocurrency is Bitcoin, but several others can be used as an acceptable form of payment. Crypto transactions are functional in the sports betting industry, but only for the right sports bettors.
There is one major requirement when looking at crypto transactions as a form of payment, and that will be covered below. Outside of that requirement, using cryptocurrency as a form of payment is more than a functional payment option as it is preferred by most online sportsbooks, who also tend to give large bonuses to clients who use crypto.
Must Have a Crypto Wallet
For crypto transactions to be a functional part of the sports betting industry, you must first have a crypto wallet. Bitcoin is the most common cryptocurrency available in the United States, but other cryptocurrencies are available as well.
If you are someone that has yet to have a crypto wallet, then this will not apply to you as it will not be a banking option. If you have already started to develop and build up your crypto wallet, then it could lead to some significant advantages in the sports betting industry.
Advantages of Crypto Transactions:
Crypto transactions are extremely functional in the sports betting industry, and there are a number of key advantages as to why that is. If you aren’t convinced to use cryptocurrency in the sports betting industry yet, perhaps you will be after taking a look at these advantages.
Perhaps the most important advantage of using cryptocurrency in the sports betting industry is the fast processing of payments and withdrawals. No one wants to wait for a deposit to post or for a withdrawal to clear, and using cryptocurrency can make both things disappear.
When you use Bitcoin or other forms of crypto transactions at BetUS, the process happens immediately. Your deposits will be available on the sportsbook account immediately, and you will receive your winnings instantly as well.
Avoid Price Volatility
If you have cryptocurrency at this time then you have probably noticed that the price changes all of the time. Some weeks the value goes way up, and other weeks the price of your Bitcoin plummets.
By using your cryptocurrency as a form of payment on your favorite sports betting site, you can avoid this price volatility and protect yourself from big losses. As soon as you make a deposit, the money is converted into US dollars, and that price always stays the same.
Safe and Secure
Another advantage to using cryptocurrency in the banking process is that all of these payments and withdrawals are safe and secure. There is no third-party involved in this process, and you won’t ever have to worry about your information or identity being stolen.
Using a payment option such as PayPal or Neteller is a third-party application, and there is always a risk of things getting leaked that shouldn’t be. This is not the case with cryptocurrency as that money is simply transferred back and forth between your crypto-wallet.
The idea of crypto currency transactions is a method that still baffles not only customers but industry professionals of all walks of life, including of course the online betting industry. But the upside to it is one that nobody can really deny. Not only economically speaking but also in matters of safety as well as simple comfort. Entering the world of crypto currencies and crypto transactions is a decision that should be taken with the utmost care and diligence but it’s also one that can bring major results for almost no work.
So now that the initial ins and outs of the benefits of using crypto transactions in the online betting industry are out in the open what’s there to stop clients moving forward? With the world in a constant strive for modernity it was only a matter of time for online betting platforms to welcome if not already have established one of the payment methods of the future into their running. If other top grossing industries around the world are already doing it, what should stop the betting industry from stepping up? Especially now that sports betting is on its way more and more towards legalization in the US.
It is only logical that moving forward, more and more of these crypto transactions will be made available for clients looking to wager. As time advances so does technology meaning that any fears or mistrusts that may arise in the present about trusting this payment method can easily be squashed. Betting has been an event of thrills and entertainment for many years now and it has no clear intentions of stopping its course so what best than to adjust it to our everyday lives.
At the end of the day, if there is one thing that characterizes the online sportsbook and casino industry is their mission to make their services and products as easy to use as possible for old and new customers. Just look around online for sports betting options and you will see the immense amount of options for people looking for the best place to have a little wagering action go down.
By adding a new payment method such as crypto currency transactions into their arsenal of services it is opening up the plethora of options for customers from all walks of life to get in on the exciting world that is online betting.