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2016
If you would like to start betting with Cryptocurrency then you need to do two things. The first is to find a bookmaker that accepts your Cryptocurrency and set up an account with them. The second is to open up an e-wallet to keep your currency in and to transfer your funds to your bookmaker or back to you if you win.
To fund your e-wallet you will have to buy some form of Cryptocurrency at the exchange rate that it is on the day of purchase using a debit or credit card, or some other form of payment if they accept it. Once you have the Cryptocurrency in your wallet, you are free to link your wallet with the bookmaker account you have created and start sending across the funds. This transfer is done just like any other money transfer that you do online, but being Bitcoin there are no fees for changing the currency, regardless of where the bookmaker is located and it is performed instantly, giving you instant funds in the bookmaker account so you can place the bets you need.
After you have funded the account and you have money to spend with your bookmaker, you can place bets as you normally would do with normal currency. The bookmakers work in exactly the same way are regular bookmakers, so look out for things like regular promotions, free bets, enhanced odds and everything else that you would like to take advantage of with your bookmaker.
If you are looking to make the move from betting with your home nations currency to betting with Cryptocurrency then it is important to understand what you are doing, and the differences between the two. Here are a number of advantages with betting crypto.
The first is that you are able to remain anonymous when you are depositing funds with your bookmaker. The only information that is sent with your deposit is the financial funds, your own personal details or the details of your account are not sent across. This is great news for those who would like to remain anonymous when gambling on the internet, Cryptocurrency lets you do this with your bookmaker.
Another benefit of cryptocurrency betting is the fast and free deposits that are on offer. Some payment methods with regular bookmakers can take time to process, whereas when you send money from your wallet to a bookmaker with Cryptocurrency, the payment is made instantly and the funds are available for you to bet with instantly. It is also important to note that the deposits you make will be free of charge, whereas with some traditional bookmakers if you are converting currency then you may be charged a fee for doing this.
Withdrawals are also beneficial to do using Cryptocurrency when you are wanting money from a bookmaker. Traditional bookmakers use many payment methods to get your money to you, but all of these require a processing time to get the funds across and into your account. With Cryptocurrency, the transfer is done instantly, so all you have to wait for is the approval of your bookmaker and for them to send the money across to you. This doesn’t usually take too long, which means you will have your funds in a short space of time, instead of waiting for days for the funds to clear.
You will have to pay a fee when you withdraw funds using Cryptocurrency, although this is generally a small fee and smaller than any conversion fees you would have to pay if receiving money from a bookmaker not in your country. By using Cryptocurrency, although you do have to pay a fee, you are avoiding fees due to the currency you are using which can save you a lot of money if you make regular withdrawals from another country to yours.
As you can see there are many benefits to using Cryptocurrency to place your bets, and it is likely that this type of betting will only increase in the future as more people put their trust in Cryptocurrency. As you transfer money on a regular basis you will understand how it works and find yourself completing transfers with ease, while when you get onto your bookmaker page, you will find betting with them very much like the betting you do now.
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.
It is good to use bookies that accept crypto currencies because:
However, we must also note the negatives:
When talking about sports betting cryptocurrency, sportsbooks are always the first to be thought of by people–but not for long. Bitcoin betting exchange or other cryptocurrency betting is here and users are blown away by it. What makes it captivating is that it gives bettors more control. Of course, understanding first what is Bitcoin is important in learning about this betting exchange. Just like a sportsbook, it is a sports betting website that permits users to bet on different sports events using Bitcoin. It differs in a sense that bettors compete against other bettors while in a sportsbook, a bettor places wager and the bookmaker is the facilitator.
Here is how it works: A bettor will have to set up an event and set the conditions. He will have to put down his wager while other bettors take him up on his wager. This process may seem easy but it only happens in the virtual world. Having an international audience, the audience is bigger and the software behind an exchange makes sure that everything goes smoothly. With Bitcoin, it works even better because transactions worldwide have become quick and seamless.
With Bitcoin betting exchange, you can “Back’ and “Lay”. Backing is betting for an outcome to happen, while Laying is betting for an outcome not to happen. When Laying, you are betting against the backers. Unlike traditional sportsbooks, these platforms won’t mind if you win. The outcome of a bet doesn’t affect the exchange.
There are a lot of options for sports bettors worldwide. The invention of it is brilliant because people would bet on anything, from sports events to political news. It allows different bets that bookmakers don’t normally allow. A popular betting exchange is Betfair. But because people can’t get enough of it, a lot of other exchanges have appeared all over the internet. Knowing what is Bitcoin is one thing, but if you’re getting tired of using it on sportsbooks, try Bitcoin bookies betting exchange now.