Bitcoin has been on a tear this year and that spells great news for sports bettors that like to use the popular cryptocurrency for wagering purposes. It began 2019 with a value of just $3,890.79 and it has now soared past the $11,000 mark. Bitcoin’s price has not been this high since early 2018 and the lengthy bull run has delighted bettors. They love the ease, speed and anonymity that bitcoin offers, but the downside has always been its volatility. That has not been an issue in recent months and they have been able to gain plenty of value by betting with bitcoin.
Nowadays the very best online sportsbooks all accept bitcoin and several specialist bitcoin-only betting sites have also sprung up. Crypto is great for the bookmakers, as it allows them to offer more attractive odds. There is no middleman taking a cut, as banks are out of the equation, so they can earn a better margin. The world of sports betting is extremely competitive due to the sheer number of dynamic operators trying to seize market share, so they typically pass the savings on to bettors, offering sharper lines in an effort to stand out from the crowd.
For many gamblers, bitcoin heralds a return to the golden age of sports wagering. The anonymity it provides allows them to bet with any sportsbook in the world, taking advantage of attractive odds and compelling bonuses. There is no risk of identity theft and they will not be bombarded with annoying marketing after placing their bets, plus they need not worry about being banned for enjoying too much success. It is much quicker and simpler than using fiat currencies like dollars and euros, and there are no long waiting times to be paid out. Everything is virtually instantaneous, so bitcoin is a phenomenal innovation for punters.
However, its volatility has always been a major problem. Rapid fluctuations in its value have previously made it far too unpredictable for many bettors, as a crash can erode the value of their winnings in the time it takes for a ball game to end. Yet this year has seen bitcoin generally enjoy an upward trend. Its value is likely to have soared in the time it takes for your bet to be settled, so you win twice if your wager is successful. It has totally eradicated the main downside of wagering with bitcoin, making it a no brainer. If you had been betting all year with bitcoin and only broken even on your wagers, you would still be enjoying a massive profit due to the phenomenal performance of bitcoin.
It remains a speculative, volatile investment, but it is on fire right now. Playing the bitcoin market and sports betting require similar skills: doing plenty of research, shopping around for the best prices, hedging, cashing out when appropriate and buying again at opportune moments. You can enjoy a great career doing both concurrently right now.
Nowadays players wager hundreds of bitcoins each day on big sporting events and at online casinos. It is one of the safest ways to bet online and it can be great fun too. Just be sure to look out for reviews of the best online sportsbooks and online casinos before wagering, because some sites are set up simply to scan you. Look out for strong, reputable betting sites with a long record of fair and prompt payments and plenty of liquidity to cover any winnings you might accrue. Then take advantage of the great bonuses and promotions on offer, sign up and begin wagering in bitcoin and trying to make a profit.