Sports betting is not a new concept in the world of online gambling. Rather, sports betting has attracted many punters from all across the globe. Since gamblers can’t participate in sports betting in the physical space, online sports betting sites, and apps make it simpler for them to gain profit as they gamble on live sports matches.
The popularity of sports betting introduced many online casinos and sportsbooks offering various bonuses and rewards to punters. As Web 3.0 is becoming the next big thing in the digital world, crypto sports betting has also become a popular feature among punters. So the real question is what makes Bitcoin Sports Betting different from Regular Sports Betting and which is a better and more profitable option to choose from.
What is Regular Sports Betting?
Regular sports betting is an online activity of predicting the results of various sports and placing a bet on different outcomes of sports. For instance, who will make a century in a live cricket match or who will become the player of the series in a particular tournament? In regular sports betting, punters place a prediction of the selected sport and place a bet. A bet is further won or lost, depending on the user’s prediction and outcome of the match.
What is Bitcoin Sports Betting?
The structure of Bitcoin sports betting is similar to regular sports betting. However, the major difference comes in the type of currency involved. You place your bets using Bitcoin in Bitcoin sports betting. Since cryptocurrency has become one of the popular digital currencies, many users prefer investing or betting using Bitcoin compared to fiat currencies.
Difference Between Bitcoin Sports Betting and Regular Sports Betting
Following is the list of major differences between Bitcoin sports betting and Regular sports betting:
- Currency: In Bitcoin sports betting, users only place bets using Bitcoin, while in Regular sports betting, users use fiat currencies.
- Online/Offline: Bitcoin sports betting can only be placed on online sportsbook platforms. Regular sports betting, on the other hand, can be placed in physical locations where matches are being conducted.
- Decentralized: Since Bitcoin is a decentralized currency, it means there is no bank or any other financial institute involved while you place bets online. Regular sports betting, on the other hand, requires a typical verification process to place bets and conduct withdrawals once you win the wager.
Benefits of Bitcoin Sports Betting
Bitcoin betting companies have a few distinct advantages over traditional sportsbooks. These advantages include:
- Transparency
You can see the results of each stake and transaction when you play sports betting with Bitcoin, unlike traditional sportsbooks, which might also try to conceal some parts of their operations.
- Anonymity
You don’t have to reveal any personal information while betting on BTC sites. Traditional sportsbooks, on the other hand, demand your name, location, and other private details.
- Betting Possibilities
Bitcoin sportsbooks provide a more diverse selection of betting options. Regular sports bookies, on the other hand, may only accept typical bets on football events.
- Security
Bitcoin sites secure your accurate and timely financial information with cutting-edge security methods, in contrast to traditional sports bookies, which may lack basic security precautions.
- Quick Payments
Bitcoin gaming sites process payments far faster than traditional sportsbooks. Traditionally, processing payment may take days or weeks, but with crypto, you won’t have to wait nearly as long.
Final Thoughts
All of the most impressive blockchain capabilities have been transformed into necessary elements for an upper sports betting experience by online sportsbooks. The Bitcoin sportsbook business, on the other hand, follows the same rules as traditional online casinos and bookmakers.
Betting firms may relax now that blockchain technology is available, knowing that the system’s privacy architecture secures your name and assets. Transactions are made using widely utilized cryptocurrency currencies, ensuring that the actual system is transparent.
All of the characteristics of digital currency discussed on this page demonstrate how crypto is gradually gaining traction in the realm of sports betting. BTC sportsbooks are far less expensive than traditional sportsbooks, resulting in higher returns on investment when compared to traditional online casinos.
