How to Use Cryptocurrency with Your Betting

Online sports betting has really taken off in the US since the Supreme Court’s decision in 2018 to repeal the Professional and Amateur Sports Act (PASPA). That move allowed individual states to introduce their own laws and regulations – and it came at a perfect time for anyone interested in cryptocurrency.

Why Use Crypto to Bet?

There are plenty of betting sites like Betonline that accept crypto now. For traditional bettors without much knowledge on the subject, that could be a confusing development. But, for those of us that spend a lot of time talking about the world of cryptocurrency, these are exciting times.

But what should you look out for when it comes to betting cryptocurrency? And what are the advantages? Read on to find out.

If you are a crypto fan (and you probably are if you are reading this) the reasons for using crypto as your betting currency will be obvious. They are essentially the same reason why you would want to use crypto for any of your transactions. The anonymity is a major plus, especially if you live in a region of the world where betting is not acceptable – or even allowed.

But there are practical betting reasons to consider as well. Cryptocurrencies tend to have much faster transaction times. This has been a problem for conventional online sports betting for a long time. Having to wait to collect your winnings when withdrawing just doesn’t seem fair. Betting with crypto solves that issue thanks to the much faster times. Not having to convert your crypto to traditional currency also saves you money, as there is no need for exchange rate fees.

How to Deposit Funds Using Cryptocurrency

So, you’ve decided to have a go at some sports betting, but you want to use crypto rather than a conventional currency? Not a problem. Plenty of sportsbooks accept cryptocurrencies as payment now – and the depositing process is usually exactly the same as for US dollars or Euros.

You will need to register for a new customer account first, to ensure that you can bet at all. Most sign up procedures are very straightforward – it is just a case of finding the site, clicking the register button and following the simple steps. Then you can access the banking section and make your first deposit. At this point you will need to select the currency you wish to use – and that’s where your chosen cryptocurrency will be added to your account. After that you just have to bet!

What to Look Out For in an Online Sportsbook

As you can see, signing up with an online sportsbook is very easy – and selecting crypto as a currency poses no problem at all either. But, if you are new to sports betting, what should keep an eye out for when it comes to picking the sportsbook in the first place? Betting sites can all seem very similar to newcomers – but here are a few things to consider.

You will have made sure that the site accepts crypto in the first place, but do check if there are any exchange rates included – as you should be able to find one where that is not the case. You should also make sure that the sportsbook has a reputation for attractive odds. Even the smallest difference in prices can affect your potential for winning returns on whatever sporting event you have gone for.

It is also a good idea to check the promotions and bonuses offered. Many online sportsbooks have special new customer offers to take advantage of and these can be a great way of starting off on a positive. There will be various terms and conditions attached though – so read the small print carefully.

How to Bet with Crypto

Once you have got to this stage there really is nothing much to learn about actually placing a betting. The markets should be set out in a way that they are easily understandable. You just have to make your selection by clicking on the odds. That will then automatically be added to the betslip. After that you just have to hope you’ve picked a winner.

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