Bookmakers that accept cryptocurrency
The popularity of cryptocurrencies long ago found gambling, therefore every day there are more bookmakers that offer you to bet or play book, while making deposits with cryptocurrencies.
For understandable reasons, this might seem very attractive for particular gamblers. However, once again we can see some advantages and disadvantages.
For and against
Majority of top bookmakers that have been working for a long time, still do not accept cryptocurrencies. There are many reasons for that, so many of bookies that accept BitCoins (BTC) are considerably new. Those companies were created exactly for this business model.
If we consider that, we can see there are many positives and negatives. In spite of that more and more companies such as Pinnacle start to be friendly with crypto world. This is a big step forward.
It is good to use bookies that accept crypto currencies because:
- Majority of those companies exist for a short period of time, therefore they give good conditions to new players. Some bookmakers give promotions up to 5 BTC (which at this moment is about 35 thousand euros).
- Since BTC is not stable, betting limits are far greater. You can bet good amount of money.
- You can be kind of anonymous. When money are exchanged through crypto wallets, such as anonymous currency as BTC (in some way) can be used without your identification. This is very important considering taxes that you have to pay.
Note: please consider that SmartBettingGuide.com has no intention to make you avoid taxes, we are just discussing facts related to crypto currencies and betting.
- Bookmakers like these help you to use crypto currencies. This is very helpful for those who have handful of currencies that are (or soon may be) forbidden in respective countries.
However, we must also note the negatives:
- Since crypto currencies are unstable, you have to be not only a gambler, but also a currency speculator. There are many ups and downs in the market, therefore if you wish get positive return, you have to follow crypto currency news and understand when it is the right time to exchange your e-coins to real currency. In other words, your return depends not only on betting results, but as well on how crypto currencies’ worth change.
- Reliability issue. Many of these companies are considerably young, so these companies might be significantly affected by changes in crypto market. While these bookmakers are not very well known, it is hard to tell whether they are really reliable or not. You have to follow news and be interested to know whether companies pay out well and do their work as they should.
Even though there are bookmakers that accept crypto currency now, we recommend you to choose those that you know the best. Here, once again, we can remind you of Pinnacle.
Please take attention to the fact that some of here mentioned bookmakers let you make deposits and cash out in crypto currency, while others accept these currencies but have another pay out system.
Crypto currencies bring news to the betting market, so we have to use that (or, at least, try). Finally, we recommend you to choose good bookmakers that you know. Otherwise, pick wise and first try certain websites, before putting big amounts of money into it.