Sports bettors should know that bitcoins are a 100 per cent virtual story and only exist in the digital and not in the real world. Bitcoin transfers work according to the peer-to-peer system. This means that the bitcoins are exchanged directly between the payer and the payee. Even when the computer is turned off, transfers are made to the recipient. Such a transaction is free of charge, can no longer be revoked, is fast, and the transaction is confirmed by a payment confirmation after a short waiting time. The idea of such currency as Bitcoin is over ten years old but has only really worked for a few years.
Nevertheless, bitcoins are finding more and more fans because of their many advantages The use of bitcoins in sports betting Thanks to the low transaction costs, some bookmakers advertise with a 20 per cent bonus if the deposit is filled with bitcoins. This affects all deposits and not only first-time deposits from new customers. Another advantage: sports bettors all over the world can use the bookmakers’ offer, as bitcoins are anonymous. Bitcoin sportsbook bookmakers offer the same offers as classic bookmakers. Bet – one of the best Bitcoin betting providers on the market Bet is a real pioneer in terms of Bitcoin sports betting: The provider has been active on the market since 2013 and is therefore considered the world’s first Bitcoin bookmaker. So if you like to bet with the virtual currency, you’ve come to the right place.
In addition to sports betting, the entire range of Bet also includes live betting, a casino and a live casino. Unfortunately, there is no German version of the website yet. Optics and menu navigation are so clear that even beginners should have no problems with the English version. An absolute advantage at Bet is undoubtedly the fact that betting fans residing in Germany do not have to worry about the tiresome betting tax. Since bitcoins are a virtual monetary unit, bets cannot be charged with the five per cent fee. Also, there are no betting limits at Bet – which should be particularly interesting for high rollers. The betting offer at Bet is also impressive, both in width and in-depth.
If you like to bet on football, you will find corresponding betting markets for all major leagues in England, Germany, Spain or Italy as well as in various smaller associations. Bet also has many other sports in its programs, such as tennis, motorsports, ice hockey, badminton, darts, futsal, handball, baseball, rugby, snooker, basketball, boxing e-sports, cricket or volleyball. The odds at Bet don’t have to shy away from comparison with the real money competition either. At Bet you will find higher odds for individual matches than with many conventional bookmakers. Overall, we can thoroughly recommend Bet. The bookmaker Bet is particularly interesting for betting fans and customers from Switzerland. The platform is the successor to Rivalo, but can no longer be used by Swiss users. I. The Book has opened its doors for bitcoins and supports the modern means of payment. But that is by no means the only attractive aspect with which Bet knows how to score. Because our readers from Switzerland can look forward to a rich betting offer with over 20 sports, in which football is the focus. Besides, the quotas are preventable, the customer service is very professional and helpful, and the structure is visible. Above all, with a view to the lucrative 100% welcome bonus up to CHF 200! The sports betting provider Bet is a reputable Bitcoin provider with a license from Curacao and has done quite well in our editorial team. Around 20 different sports and e-sports, games including some live streams are made available to the player here. The betting odds key is relatively high, and the new customer bonus can be unlocked with relatively simple bonus rules. Bet’s s offer is rounded off by the omission of the betting tax.
That is why the bookmaker cannot block the account Bitcoin betting providers have several advantages that make them so interesting for the weather. The most significant advantage of a Bitcoins account is that the account holder remains anonymous. Because bookmakers with Bitcoin acceptance do not require the disclosure of identity. Just an email address is enough to keep in touch with customer service. But even this is not necessary for many bookies. Also, it is quite easy to create an email address only for this purpose. Since the payments are so easy and fast, an anonymous account opening is possible with the Bitcoin betting provider, provided the payments are made exclusively via Bitcoins. After depositing, the first bet can be placed immediately. Since the accounts are anonymous, no account lock is possible. The betting process is as follows: After placing the bet and announcing the betting result, the winnings go to the player immediately.
Even with a reasonably large profit distribution, there is neither a limit violation nor an account lockout. Advantages of depositing and withdrawing with bitcoins Due to the way Bitcoins work, depositing and withdrawing from a Bitcoin sports betting provider is very quick and secure. The payment infrastructure is provided solely by the Bitcoin system, which in turn enables money transfer without additional costs. Due to the flexible payment option with Bitcoins, it is also easy to send the money from one bookmaker to another or to transfer the prize to friends on their account immediately. It is even possible to transfer them to other customer accounts with another betting provider.
Although the advantages do score, there are, of course, a few disadvantages with Bitcoin bookies. One of them is that bitcoins have only been around for a few years – so the industry is accordingly young and there is no long-term experience. However, online betting providers were brand new on the market 10 to 15 years ago, and here too customers had to gain their expertise. The risk that some bookies turn out to be fraudulent or not work profitably enough and therefore go bankrupt is quite there. As advantageous as anonymity is, it also ensures that there are no minimum standards and legal regulations.
However, since the transfer of bitcoins is so quick, bettors do not have to pay hefty amounts. Those who do not trust their betting provider can instead transfer smaller amounts several times, precisely what is needed for placing the bet. Although the bitcoin economy has yet to develop correctly, progress is steadily progressing. You can now buy almost anything with bitcoins – even plane tickets. Nevertheless, Bitcoin bookmakers are far from being comparable to established conventional bookmakers. For this reason, the limits are still shallow compared to classic bookmakers, and it is not possible to bet large amounts. As a rule, these are 1 to 5 bitcoins, which roughly corresponds to several thousand euros depending on the course. But we would also be on the next topic: the Bitcoin course. It is subject to violent fluctuations, as can be seen from the course table of recent years. For the weather, this is both an opportunity and a risk. That means bitcoins for betting Experts suspect that 50 to 60 per cent of all Bitcoin transactions are related to online betting or online gambling. Accordingly, the market is huge and the number of sports betting websites that accept Bitcoin as a regular currency is growing.
This stems from the fact that bitcoins are a good loophole for the US gambling market. Because currently gambling in the United States is only permitted in the states of Delaware, New Jersey and Nevada. In all other countries, gambling is considered illegal, including Bitcoin bookmakers. Due to the anonymity, however, sports betting providers with Bitcoin currency are mushrooming for American citizens. The US government cannot control Bitcoin transactions, but transactions with other means of payment can. Financial institutions have frozen countless accounts in the past, citing the 1961 Wire Act. However, since bitcoins are not transferred but paid to websites, this process cannot be tracked. Naomi Brockwell, responsible for Bitcoin’s policies, says Bitcoins have revolutionized the online sports betting and gaming market in the United States. Because now USA residents can bet and gamble freely. Since the transaction in Bitcoins is carried out immediately and cannot be reversed, online bookmakers also benefit. Because in the past there have been more problems with fraudulent chargebacks.