Bitcoin Deposits in Sports Betting
Bitcoin in sports betting started increasing when people noticed that sports betting were and still is growing in leaps and bounds. There are plenty of Canadian betting sites that have this payment as an option when it comes to depositing money. Bitcoin emerged as the first cryptocurrency people around the world could use back in 2009. When cryptocurrency first emerged, it received mixed reaction from the public. Some saw the currency as positive because of its growth in value, while many were negative towards it due to the lack of regulation around it.
Bitcoin in Sports Betting is among the most popular deposit methods. Because of the little to no admin involved in Bitcoin payments, some sports betting sites offer greater bonuses and promotion products. There are plenty of benefits related to using this payment method, both in sports betting and outside of the world of gambling. With this article, the aim is to highlight some of the positives associated with using it as a deposit method.
Sportsbooks the cater for Bitcoin Deposits
There are plenty of Canadian digital sportsbooks that cater to Bitcoin deposits. Bitcoin is an international currency, therefore making it available to bettors in Canada. Always consider the reputation the sportsbook has. Cryptocurrencies are sensitive, therefore requiring enough safety and security. We have compiled a list of sportsbooks that accept it for your convenience.
What You Can Expect To See In This Guide:
Benefits of Bitcoin Deposits
There are plenty of benefits associated with this kind of deposit. However, what we might consider as benefits, a few others might consider as negatives. It is imperative to note that bitcoin spells out h future of currency as we know it. Therefore, there is no need to fear it. Rather, let’s embrace it by looking into how you, as a punter in Canada, can benefit from it.
- Some bettors enjoy this deposit method because it is fast and reliable.
- In Bitcoin, there are not that many admin fees or charges on the transaction because there is no regulation. No third party is going to get their hands on your money. The only fee required is referred to as a ‘Miner’s Fee’. This means that you get to save more money.
- The anonymity can be considered as another benefit. There is no need to disclose personal information when making bitcoin transfers.
Disadvantages of Bitcoin Deposits in Sports Betting
There is only one disadvantage that comes to mind with bitcoin deposits in sports betting.
- Bitcoin is not decentralized, therefore making it vulnerable to market volatility. This is based on which currency you transfer your money to.
For many, this would be overlooked because the same can be said about any other currency.
Overall Sentiments
There is more good that can be highlighted when it comes to using Bitcoin deposits in sports betting than there is bad. Some sportsbooks encourage cryptocurrencies by offering more promotions attached to them. Canadian bettors are not left out in the cold when it comes to this type of deposit option because it is available to them. The fact that there are little to no fees attached to crypto deposits means the punter has more money to enjoy on sports betting.