Sports betting has traditionally provided players with a different experience than crypto betting. Sports betting offers far more variables, giving players access to much more information. This allows certain benefits to be applied to crypto sports betting compared to traditional betting. We’ve closely examined what traditional benefits are available and how cryptocurrency can provide additional benefits.
Crypto Sports Betting Benefits
Sports betting provides several benefits to players as a standard. The ability to control your bets, research past events, and access a vast range of markets provides players with benefits. However, crypto sports betting gives players an additional selection of benefits. It means that betting on sports with crypto gives players an advantage over most other bettors on the market. We’ve closely examined the available crypto benefits and how cryptocurrency can improve your sports betting experience.
More Control Over Stakes
Crypto makes it significantly easier to control your stakes when betting. This is because betting with crypto offers more increments than betting with fiat. If you’re using a bankroll management system, this level of control makes it much easier to carry out.
There’s also the added benefit of being able to place higher wagers. Crypto allows for the placing of significantly higher-value bets when compared to fiat. While this carries the possibility of more considerable losses, that’s a risk that players need to weigh up themselves. Some players will see the ability to grab higher wins with a higher stake as a worthwhile risk.
Crypto Volatility
The most apparent benefit for players is crypto volatility. It allows a cryptocurrency’s value to increase significantly without any intervention from the player. Bitcoin is the most famous example of cryptocurrency today, but it’s not the only coin that has seen significant gains.
The main benefit for players here is that they can use the market to make the most of their crypto. When combined with a successful betting strategy, the total increased value can be much more than it would when relying on the markets alone.
Crypto Sports Betting Markets
Although sports betting offers a lot of markets to players, crypto sports betting can sometimes offer even more. Part of this is that crypto allows sportsbooks to be more flexible in what they offer to players. It’s not just the markets for each sport that are impacted by this; other options also become available.
E-Sports
This is undoubtedly the biggest additional market that crypto betting sites tend to offer. Although some fiat sites feature e-sports, none come close to the range that crypto sportsbooks provide. E-sports isn’t a massive deal with sports bettors yet, but it is a fast-growing sport. The fact that crypto sites are ahead of the curve here is a good sign for e-sports bettors. As it’s also a new market, it means that you may be able to find a better value on e-sports bets if your research is effective.
Crypto Betting Security
Security for cryptocurrency is some of the best in the world. The encryption and secure algorithms for crypto are almost impossible to crack. If you keep your keys to yourself, the chances of anyone breaking your security are practically zero.
Crypto Payments: Security
When making a crypto payment, a hacker can’t hijack it. The payment can only go to where you send it because the ledger records it at either end. It means that your payments are completely secure. It’s a huge benefit, especially with the potential for payment fraud using traditional payment methods.
Anonymity
Retaining your anonymity is a benefit that fiat currency struggles to compete with. Even prepaid credit cards will require you to provide some form of ID. Crypto payments remove this issue. The anonymity of crypto gives two primary benefits to sports bettors:
Protection from Fraud
Identity theft is a big issue when using the internet. Even the most careful of people can have some form of their ID stolen and used for nefarious purposes. If this includes your payment information, then it can cause significant problems. Using cryptocurrency to play sportsbooks means that you can protect your ID. As long as you play at a site that doesn’t require KYC, you’ll be able to play with complete anonymity.
Protection from Banks
If banks see betting activity on your account, it can lead to them treating you differently. For example, if you apply for a loan, they may see betting as a reason not to offer it to you. Playing with crypto means that you can avoid this problem. You can remain anonymous, and a crypto sportsbook won’t report your financial transactions to your bank.
Cryptocurrency Withdrawal Speed
Withdrawal speeds have been an issue with fiat payments for a long time. It’s long been an issue that a retailer can take a deposit instantly, but a withdrawal can take up to 5 working days. This isn’t just an issue with sportsbooks and casinos; any payments can have this problem.
Cryptocurrency removes this problem. Players can make withdrawals almost instantly in most cases. Even if the blockchain is busy, the crypto should still complete a withdrawal within an hour. If using crypto such as Monero, then even a delayed withdrawal will only take minutes to complete.
Crypto Payment Fees
Cryptos do have gas fees associated with them. Sometimes, they can become slightly expensive, mainly when the blockchain is busy. However, even when the gas fees increase, they’re still lower than standard fiat fees. It becomes even more pronounced if sending crypto to another country. Playing with crypto will significantly lower your costs if you regularly use betting sites in other countries.
Crypto Sports Betting Bonuses
The bonuses that crypto sports betting sites offer can be more varied than at a standard sportsbook. Players will find that there’s a lot more variety offered as well as more crypto-specific bonuses.
Deposit/No Deposit Bonuses
Most online sportsbooks will provide players with a bonus of some kind. These can be welcome bonuses or reload bonuses. However, crypto sportsbooks will typically offer more generous bonuses to players. A great example is a welcome bonus that offers up to 2 BTC. This is significantly more than a fiat bonus would offer in value.
Crypto sportsbooks also tend to provide more no-deposit bonuses. Crypto faucets are a great example of this. BC.Game has a daily spin wheel where players can grab crypto bonuses without having to make a deposit. These bonuses give crypto players many opportunities to boost their bankroll without making large or repeated deposits.
Odds Boosts
The odds boost at crypto sports betting sites is fantastic. Players can provide a larger payout than usual when placing specific bets. When the odds boost falls on wagers, you were already planning on setting; it’s even better.
Odds boosts can also be applied to parlay bets. This can be an excellent bonus if you’re a sports bettor who likes to use parlays to find additional value. Another fantastic bonus that odds boosts offer is that wagering requirements don’t usually apply to them. So, as long as you abide by the conditions of the promotion, any winnings will instantly be available for withdrawal.
Potential Beyond Betting
Some benefits that bettors don’t tend to consider centre around what crypto offers beyond gambling. It’s more than just a currency in the traditional sense. So, when you decide to play with crypto, you have access to more than just a quick, safe, anonymous way to bet.
Staking
Choosing to stake crypto is regularly overlooked by crypto bettors. While not every site offers this feature, some allow for staking to be carried out. It’s an excellent way to increase your crypto holding without the risk of betting. It does mean that you will lose access to some of your crypto while you lock it in for staking, but with some sites offering a 5% yield, it can be worthwhile.
There are some risks associated with staking, but the risks here are significantly lower than placing a bet. Of course, the potential rewards are a lot lower as well. However, you could use staking to cover any potential losses from bets, which other forms of betting don’t offer
dApp Development
The most apparent benefit of dApp development is that the apps are decentralised. It means they don’t have some standard app limitations. They’re also much more mindful of user privacy, which links in with the previous benefit of anonymity.
There’s also the possibility that dApps will be used for specific sports betting platforms in the future. Developers can create a more intuitive platform catered to the user. As dApp development becomes more prominent, having your own perfectly curated sports betting platform is a genuine possibility.
Future Developments
What might come in the future is the most exciting benefit to crypto betting sites. It’s entirely plausible that blockchain technology can create a site that allows VR to be used to watch a live game. There’s more than that possible; the future for crypto sports betting is relatively limitless. The development environment has the most potential out of all current options.
Crypto Sports Betting Benefits: Final Thoughts
Crypto sports betting has many benefits for players. We’ve spent a lot of time looking into what it offers and feel it’s the best way to bet on sports. Before you start playing, you will need to find a top-quality sportsbook. Using our detailed reviews, you can find out which sites will be able to offer you all of these benefits. With our reviews, you can learn everything available at each sportsbook and guarantee that the best benefits will be on offer.
Reviewed and Fact Checked by Eugene Abungana , Investment Analyst, Financial Analyst, and Institutional Trader