Currently, the world is witnessing rapid increments in the gaming industry. More and more sports enthusiasts are choosing to put their sports knowledge to use by wagering money on the outcomes of their favorite games. Sports betting is becoming highly popular among bettors nowadays.
In the sports betting industry also, innovations are happening regularly. One of those is the use of cryptocurrency as a payment method in the sports betting industry. Crypto Sports betting has revolutionized the entire gaming industry as it has significant advantages over the one that used a traditional form of currency. As per official data, 337 crypto sports bets are placed per second on crypto gambling sites.
Some of the main benefits of using cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc in sports betting are faster deposits and withdrawals, no charges on transactions, higher security, no withdrawal limits, and increased safety of users’ data. Earlier, the craze was for bitcoin only, but due to the emergence of its competent rivals like Ethereum, Bitcoin Cash, Ripple, etc, the crypto sports industry is also evolving rapidly.
Popular Cryptos for Crypto Sports Betting
The most prominent cryptocurrency is Bitcoin followed by Ethereum and Dogecoin. Out of all cryptocurrencies, Bitcoin has the biggest market share. There are over 2000 cryptocurrencies in use right now.
Each one has some advantages over the others. In this article, we will cover the six most popular cryptocurrencies:-
Bitcoin Sports Betting
Bitcoin is the first choice for casino gambling sites regarding the primary payment method on the sites. The sports betting industry is also following closely due to the numerous advantages Bitcoin has over the conventional fiat currencies like Euro, Dollars, etc. Some of the top benefits of using Bitcoin are Faster transactions, free-of-cost transfers, the safety of the user’s funds, generous bonuses, anonymity of the user, and access to the best bitcoin sportsbook options.
Ripple Sports Betting
There are hundreds of cryptocurrencies in the crypto market, and ripple is one of the most popular. It is famous because of its speed of transaction, low rates, XRP bonus, and many more. The usage of the Ripple platform’s XRP token for wagering on gambling and betting activities is known as ripple sports betting. Ripple’s cutting-edge technology provides quick transactions at minimal costs. To participate in Ripple sports betting, register with a crypto gambling site and place Ripple bets.
Ethereum Sports Betting
Since its inception in 2015, Ethereum has been giving tough competition to Bitcoin. Its popularity is on the rise. The crypto sports betting sites are offering Ethereum as an alternative to Bitcoin. Similar to Bitcoin, Ethereum also has numerous advantages over traditional currencies. Some of the top benefits of Ethereum are higher betting limits, the safety of user’s data, the anonymity of the players, and massive welcome bonuses. Bitcoin may have started the revolution of crypto sports betting, but Ethereum is also catching up and is becoming highly popular among crypto enthusiasts.
Tron Sports Betting
As an exchange medium on the Tron betting site, Tron is a cryptocurrency that competes with Ethereum and attracts daily attention in the crypto betting community. It is a blockchain-based decentralized operating system based on a native cryptocurrency called TRX. Tron was founded by Justin Sun in 2017. The advantages of Tron sports betting are that it maintains anonymity, is licensed, and provides easy payment modes which are faster and cheaper.
Bitcoin Cash Sports Betting
Bitcoin Cash shares its name with the most famous cryptocurrency, Bitcoin. It was created in 2017 from the fork of Bitcoin. Nowadays, crypto sportsbooks are accepting it as a mode of payment. The transactions done using Bitcoin cash are far cheaper and faster than using Bitcoin. The benefits of Bitcoin Cash sports betting are somewhat similar to those of other cryptocurrencies, like the anonymity of the players is maintained, higher betting limits, and generous bonuses and promotional offers.
Dogecoin Sports Betting
Dogecoin is a celebrity-backed, highly famous cryptocurrency that has become the third-largest in market share size. One can utilize this meme coin for Dogecoin gambling, particularly sports betting. Dogecoin is accepted by many online sportsbooks that take Bitcoin. DOGE is one of the top five cryptocurrencies that most crypto casinos and sports betting sites accept. It has similar benefits to other cryptocurrencies like higher security, lucrative bonuses and promotional offers, and faster and cheaper transactions.
Is Crypto Sports Betting Profitable?
Yes, if one possesses proper knowledge of the crypto industry, one can make money by betting crypto on the outcome of famous sports. Crypto Sports betting is highly profitable, and punters can make vast amounts of money. The newcomers should be patient and calculative while starting their crypto betting journey. In order to make profits, they should use good betting strategies and start with a smaller amount.
Moreover, they can explore various cryptocurrency sports betting sites to find the best odds and opportunities for their bets. Due to the lucrative rewards and bonuses offered by these platforms, crypto sports betting is in high demand nowadays. Hence, if a player has good knowledge of the crypto industry and chooses the right crypto sports betting websites, he can make huge profits.
Future of Crypto Sports Betting
The crypto industry experts are predicting the future of crypto sports betting to be very progressive. Sports betting by using cryptocurrencies is becoming highly popular among punters all over the world. Due to the faster speed and numerous other advantages, cryptocurrencies have significantly increased the number of sports betting transactions. As the craze of cryptocurrencies rises, the number of crypto holders and online sportsbooks is also increasing. The crypto sports betting industry has massive growth chances in the future.
Conclusion
We can say that some of the unique features of cryptocurrencies, like accuracy, flexibility, and security, have placed them in their own category. If we talk about sports betting, cryptocurrencies have revolutionized the entire system. Crypto sports betting provides multiple benefits to the sportsbooks as well as the punters. For sportsbooks, it offers higher bettor’s trust and increased promotional chances that can significantly expand their market potential. Hence, the crypto enthusiasts who are looking to make extra money by using their crypto assets are in the right place.
