Top 10 Cryptocurrency for Sports Betting 2021
As cryptocurrency continues to grow and attract new people to use it, so does the number of people using crypto for sports betting. There are many ways that people can use crypto and betting is just one of them. Here you will can find all best crypto sports betting sites and top rated cryptocurrencies.
The betting industry is going to play a big role in the development and advancement of cryptocurrencies over many years. One of the main reasons for this is because, with the betting industry, people are not just spending money if they win they are also receiving it back.
This means that anyone who is involved with crypto betting is buying currency, then they are spending it with bookmakers and then potentially winning it back from their bookie. When many people win they look for ways to treat themselves and spend their winnings, so these people will then be looking to spend their crypto with other companies.
It is a great way to get people buying, spending and using crypto on a regular basis. With that in mind, it is time to take a look at the top 10 cryptocurrency 2021 for sports betting and how they may shape the future.
Tezos was released in the middle of 2018 and it is the first cryptocurrency that we are going to look at here. With a Tezos value market capitalisation of $1.5 billion, the initial steps have been good and taken less than two years to get to this stage.
However, the problem that Tezos will face in the next five years is similar to what many other smaller cryptos will see and that is getting their name out there. If this happens, we will see a rise in the value of this coin, and it will become more appealing to those placing sports bets but that is unlikely to come for quite a few years.
#9 Binance Coin
Binance Coin is a token that is Ethereum based and was launched back in 2017. Within the first 20 days of release, around $15 million worth of Binance Coin tokens were sold. With a market capitalisation of $2.4 billion at the start of 2020, in just three years we have seen some solid strides made by this currency and the expectation is that these strides will continue in the future.
Although it would take a lot for a real rise in the value of this coin, especially because others are better known and more likely to receive a boost from other industries, a steady rise would be no surprise.
EOS was released back in 2018 and came to us via Ethereum, which makes it a little different to many smaller cryptocurrencies, which came via forks from Bitcoin. A private company were behind the development and creation of EOS, though it was released as open-source software when it hit the market in 2018.
A total of 1 billion EOS coins were put onto the Ethereum blockchain by block.one the creators of EOS and since then we have seen steady growth. The market capitalisation in early 2020 was $2.4 billion and while it is a good start, things are unlikely to expand at any time soon for this currency.
Litecoin came onto the market back in October 2011 and was created by Charlie Lee, who previously worked for Google on a variety of different online projects. This was a fork of Bitcoin, like many other new cryptocurrencies that have come onto the market and for that reason, there is a little history and stability behind this.
The market capitalisation in 2020 for Litecoin was $2.6 billion so it has a firm foothold on the market but is far smaller than some of the bigger boys out there, and there is a lot of work still to be done. With smaller block generation time and an increased maximum number of coins, there is certainly room for growth here but that may not happen anytime soon.
Litecoin could eventually become a regular with sports gamblers, and Litecoin gambling certainly has a strong start behind it which will only help. Here you can find best Litecoin sports betting sites.
#6 Bitcoin SV
Bitcoin SV hit the market back in late 2018, and just like Bitcoin Cash, it came onto the market with one intention. With a market capitalisation of $3.4 billion, it is already making waves and solving a problem for many people, something that will help those who are looking to spend cryptocurrency while betting.
Bitcoin SV was created with larger block sizes and this is designed to reduce the transaction fees that are in place with traditional Bitcoin. Named after the founder of Bitcoin, Satoshi Nakamoto, it is said to be much more in line with what his original Bitcoin vision was when he created the original cryptocurrency.
This vision would certainly be more appealing to sports gamblers, who would prefer a world where there were no transaction fees regardless of the payment method and currency used. In this Bitcoin SV review, you will find more info about BSV crypto.
#5 Bitcoin Cash
How Bitcoin Cash works is not 100% suited to the betting industry, but it is certainly something that could help it gain a footing for Bitcoin Cash bet. The reason Bitcoin Cash came along was to help people who wanted to make small transactions with Bitcoin, these would either take too long or cost a fee to process quicker.
You don’t get that with Bitcoin Cash, which will be good news for those who want to bet in small amounts and want the benefits of almost instant transactions for Bitcoin Cash betting sites. The market capitalisation for Bitcoin Cash was $4.1 billion earlier in 2020, so there is certainly value there although it may not be enough to propel this into the wider world unless there continue to be people wanting to make small payments with Bitcoin.
Tether has one big advantage in its favour, and this is something that could convince the larger sports betting providers to start accepting this. Although a cryptocurrency in its own right, Tether USDT wallet converts cash into their digital currency, and it anchors onto the national currency.
This means that the value of Tether should match that of the US dollar for example, and in reserve, there is $1 for every unit of Tether on the market. This all makes Tether popular with those who trade between cryptocurrency and national currencies, and for this reason, it could certainly appeal to the betting industry as being a way in without taking too much of a risk.
Tether may not have a big rise in the next five years, but away from the big two, it is the one that could appeal to big industries and if one of those takes a punt on Tether, that certainly would cause a rush and increase the price.
#3 Ripple (XRP)
The third best cryptocurrency on our list that sports betting players need to keep an eye on is Ripple, also known as XRP. Ripple was launched back in 2012, so has been around for many years and that is always a positive when you are looking at the different cryptos on offer.
This has given the currency a stability that others would love, even if that hasn’t meant too much in terms of growth. The market capitalisation for this currency was $8.22 billion back in April 2020, showing it is well behind the top two, although ahead of the others in the chasing pack by a clear margin.
It is clearly the third biggest crypto out there, but as the theme continues, unless there is a major crash with one of the front two then we are unlikely to see any huge changes over the next five years with this currency.
Ripple may be stuck in a tough place here in terms of sports betting and XRP gambling. It does not have the potential growth as others so may not find a way into sports betting because of that, and it is unlikely to ever challenge the big two so won’t get in that way either.
Ethereum is definitely the second player in the crypto market and has more than double the market capitalisation of XRP in third place here. The figure for Ethereum stands at $19.4 billion, and while this is double its nearest competitor, soon you will see just how far behind the leading crypto it is.
There are many bookmakers out there who accept Ethereum betting from their players, and after launching in 2015, it has seen a relatively steady rise in both value and popularity. Over the next five years, you can expect more of the same, but unless something happens to Bitcoin, it is unlikely that we will ever see a big jump from ETH and Ethereum sports betting popularity.
Bitcoin is the longest cryptocurrency to have been in operation, dating back to 2009. If you want to place a bet with a bookmaker, this is your best bet as any of them that accept crypto, will certainly accept Bitcoin from their players.
Many who talk about betting with crypto will actually refer to it as Bitcoin betting, rather than crypto betting, such is the size of the Bitcoin service compared to everything else on the market. As of April 2020, the market capitalisation for Bitcoin was $128 billion. The total crypto market capitalisation was $201 billion, showing how much of the market this currency makes up.
The best guess is that if crypto betting really takes hold, it will do so because of Bitcoin, and this will be the currency that leads the way. If or when crypto betting becomes big, Bitcoin will likely be involved many years before other cryptocurrencies with some of the bigger names in betting.
Others are used now by smaller bookmakers, but Bitcoin will be used first before others are trusted by the bigger names.
If you are interesting to find top 10 cryptocurrency 2020 read our crypto news page.
Top 10 cryptos for sports betting is Tezos, Binance Coin, EOS, Litecoin, Bitcoin SV, Bitcoin Cash, Tether, Ripple, Ethereum, Bitcoin. Here you can find all bookmakers for crypto bet.
Most popular and best cryptocurrency for sports betting is Bitcoin.
By market cap biggest crypto after Bitcoin is Ethereum (market cap 83,642,945,804).
Difference between other crypto what Tether have that every value of Tether should match that of the US dollar. So its big advantage for Tether, because $1 for every unit of Tether on the market has reserve.
Tezos cryptocurrency like others, you can buy in crypto exchange (Binance, Coinbase, Gemini).
Litecoin was created in 2011 by Google worker Charlie Lee.
Best Bitcoin Cash sportsbook you can find on BCH betting sites rating.
Best Litecoin sportsbook you can find on LTC betting sites rating.