Crypto Betting

Cryptocurrencies sneaked into our lives and went mainstream without notice. Today, they have disrupted many industries, and the trend is not abating. The technology behind them, blockchain, continues to grow and facilitate innovations day and night. Crypto betting is one of the products of blockchain technology. Online casinos started testing crypto betting as early as 2013, only three years after Satoshi Nakamoto invented Bitcoin. Over time, blockchain betting has showcased numerous benefits that have made it attractive to almost all industries. dAppGambl brings you this informative piece on crypto betting with an inclination on crypto sports betting.

crypto betting
crypto betting

5 Best Cryptocurrency Gambling Sites Right Now

dAppGambl’s experts assessed numerous crypto sports betting sites and picked the best ones for you. So stick with our recommendations if you’re confused about finding the best Bitcoin Gambling sites today.

  1. CloudBet Casino CloudBet Casino Review
    4.9/5
    • Popular casino
    • Sportsbook with eSports
    • Some of the best odds
    Bonus Offer 100% matched deposit bonus of up to 5 BTC!
    Summary

    CloudBet Started out as just a Bitcoin casino and since then has expanded to include a range of cryptocurrencies. A huge welcome bonus and fantastic casino games makes CloudBet a top name in crypto gaming.

    Accepted Currencies
    bitcoin-icon bch-icon ethereum-icon tether-icon usdc-icon dogecoin-icon litecoin-icon pax-icon dai-icon link-icon ada-icon
    Main Features
    • Popular casino
    • Sportsbook with eSports
    • Some of the best odds
    Blockchain tron logo
    Customer Support
    Licences
    Curaçao (CGCB)
  2. Exclusive dAppGambl Bonus
    Stake Casino Stake Casino Review
    4.9/5
    • Personalised bonus offer
    • Provably Fair Games
    • Sportsbook with eSports
    Bonus Offer Exclusive Bonus: 200% up to 1000$
    Summary

    Sports betting combined with fantastic cryptocurrency options makes Stake a great site to play at. It also has some great casino games, including provably fair titles. Our exclusive bonus makes this a top site.

    Accepted Currencies
    bitcoin-icon ethereum-icon dogecoin-icon litecoin-icon xrp-icon tron-icon bch-icon eos-icon
    Main Features
    • Personalised bonus offer
    • Provably Fair Games
    • Sportsbook with eSports
    Blockchain tron logo
    Customer Support
    Email Live chat
    Licences
    Curaçao (CGCB)
  3. Fortune Jack Casino Fortune Jack Casino Review
    4.9/5
    • Generous welcome bonus
    • Popular games
    • Easy site navigation
    Bonus Offer Up to 6 BTC or 1200 USD!
    Summary

    With almost a decade of experience, Fortune Jack is a casino that’s well regarded on the market. Excellent crypto payment options are combined with elite casino games to make this a wonderful casino choice.

    Accepted Currencies
    bitcoin-icon litecoin-icon dogecoin-icon ethereum-icon zcash-icon tron-icon bch-icon monero-icon
    Main Features
    • Generous welcome bonus
    • Popular games
    • Easy site navigation
    Blockchain tron logo
    Customer Support
    Email Live chat
    Licences
    Curaçao (CGCB)
  4. BetOnline Casino BetOnline Casino Review
    4.5/5
    • 24/7 Support
    • Cashback
    • Jackpot slots
    Bonus Offer 100% up to 3000$ Welcome Bonus Package
    Summary

    BetOnline is actually one of the oldest casinos around. Despite this, it hasn’t been worried about changing with the times. It offers players a good choice of different cryptocurrencies and backs this up with a top-class game roster.

    Accepted Currencies
    Bitcoin-icon BCH-icon XRP-icon Litecoin-icon Ethereum-icon ada-icon
    Main Features
    • 24/7 Support
    • Cashback
    • Jackpot slots
    Blockchain tron logo
    Customer Support
  5. MyStake Casino MyStake Casino Review
    4.7/5
    • Good Bonuses
    • Popular games
    • Reputable Game Providers
    Bonus Offer 250% up to $1500
    Summary

    MyStake looks to provide players with a unique luxury casino experience. There’s a top choice of game providers and great bonuses offered at MyStake. For crypto aficionados this is a top level site.

    Accepted Currencies
    Bitcoin-icon Ethereum-icon XRP-icon BCH-icon Tether-icon Monero-icon Dash-icon
    Main Features
    • Good Bonuses
    • Popular games
    • Reputable Game Providers
    Blockchain tron logo
    Customer Support
  6. Sportbet Sportbet Review
    4/5
    • Provably Fair Games
    • Shared House Profits
    • Sportsbook
    Bonus Offer Shared House Profits
    Summary

    Sportbet is a mainly sports-based crypto gambling platform. It doesn’t just focus on sports though, there are also eSports and casino games on offer here. With provably fair titles also available, this is a site that’s a lot of fun.

    Accepted Currencies
    EOS-icon bitcoin-icon ethereum-icon tether-icon litecoin-icon
    Main Features
    • Provably Fair Games
    • Shared House Profits
    • Sportsbook
    Blockchain tron logo
    Customer Support
crypto-betting

What Is Crypto Sports Betting?

The term crypto sports betting derives its name from sports betting. Sports betting entails placing a wager of monetary value on the outcome of any sporting event. Crypto sports betting is a branch of the general sports betting family. As you may have guessed, it involves wagering or betting on sports events using digital coins. It’s a very new form of betting in online gambling and is growing popular as fast as the growth of cryptocurrencies. Participants stake a certain amount of crypto on a sport like football, hockey, tennis, swimming, or even rugby. The bookmaker provides odds that influence the pay-outs for winning bets. As a rule of the thumb, betting on the team with higher chances of winning sets you up for a lower reward than a wager on the weak team. In the end, a winning bet earns a wagerer a reward in the form of virtual currencies. It’s a zero-sum game where a bettor wins or loses; there is no in-between.

Bitcoin is the most widely used digital currency in online crypto sports betting, but recently, other virtual coins like Ethereum, Dogecoin, Litecoin, Solana, and even new tokens like the Binance Coin are finding their way into some top casinos. With more than 8000 cryptocurrencies globally, you can be sure that the crypto sports betting sites available are countless. The most significant force behind the growth of crypto betting is the security that comes with it. Blockchain technology is transparent, immutable, and hence naturally secure. Provably fair gambling, a blockchain technology for verifying fairness in-game betting outcomes, makes crypto betting incomparably secure. Other factors such as transaction speeds when it comes to deposits and withdrawal and the anonymity that digital currency betting offers are also influential.

How to Bet On Cryptocurrency Sports Betting Sites?

Crypto sports betting runs on the blockchain network. Therefore, players must own digital coins to transact. Also, remember that every crypto casino is only compatible with specific virtual currencies. So confirm the supported crypto payment options and make sure you’re okay with them before signing up. Here is a step-by-step guide to crypto sports betting.

Factors to look into Crypto Betting

dAppGambl has recommended some crypto sports betting sites for you. Maybe you are wondering how we were able to pick the best cryptocurrency sports betting sites out of hundreds of options available. Every gambler has factors they consider key in selecting a suitable gambling site. However, there are bare minimums that everyone must consider. Here is a breakdown.

  • Know what you want: You can’t find the right sports betting platform if you don’t have a clear picture of what matters to you in sports betting. This shouldn’t be anywhere close to rocket science. A good way is first to ask yourself what sports you are most interested in. Then, research the different types of sports betting and decide which ones you want to try.
  • Understanding What You’re Looking For: Carefully consider what you are looking for in a sports betting site. Ask yourself some fundamental questions, such as: Do you want to try a specific type of bet? Which payment method do you intend to use? How frequently will you place bets? Check if crypto gambling sites you’re considering are compatible with your digital coin exchange. Understanding these factors will give you a clear roadmap to which casinos to consider.
  • Examine Client Feedback: There are many free casino review websites, such as Bitcointalk, where gamblers leave honest reviews about different gambling platforms. Reading customer reviews will save you the high cost of learning from a bad experience. You can read what made them unhappy with specific sports betting platforms and make an informed choice. Professional sites such as dAppGambl should also be your go-to for finding reliable reviews about online casinos.
  • Find Alternatives: You may already have a list of a few sports betting sites you’re considering. However, it pays to dig deeper and compare different alternatives in the market. It’s only through research that you will come across the perfect sports betting site for your needs. Go beyond reading reviews. Visit the sites to check them out. This is also a chance to find out which site is the most user-friendly. You may chat with live support agents to ask them a few leading questions. By doing so, you will be better placed to make an informed decision.
  • Apply Deal Breakers: You now need to narrow down to one site you will sign up with and start placing your sports bets. This might be challenging, especially when you have more than a few competing options. Come up with a list of disqualifying factors and start eliminating some of your options based on that. For example, high costs of transactions may be a deal-breaker; high fees can add up and make you lose your capital fast. Compare how much it will cost you to deposit, withdraw and wager on each online crypto betting casino.

Crypto Sports Betting Bonuses 

One thing you’ll love about crypto sports betting is bonuses. Unlike traditional online gambling platforms, the bonus and promotions offered by Bitcoin casinos and crypto betting sites, in general, are usually attractive. Let’s dissect them one by one. It helps to understand them before signing up.

Welcome Bonus

Online virtual currency casinos offer welcome bonuses to welcome new members to their platform. They are mostly the most rewarding among all the promotions that most casinos give on their sportsbook. The platforms want new customers and are willing to give up a huge chunk of their profits back to players as a way of marketing and luring new clients. Welcome bonuses can be split into no deposit and deposit welcome bonuses. No deposit bonuses are loaded to new players’ accounts as soon as they sign up, without requiring them to deposit any amount of money. On the other hand, welcome deposit bonuses usually require new account holders to deposit a minimum amount of funds into their account, after which the casino awards the welcome bonus matched up to the amount deposited. For example, if XYZ casino offers a 150% deposit bonus, and a client funds $100 into their betting account, the casino will credit their account with an extra $150 welcome bonus. Keep in mind that all sportsbooks have terms and conditions for their rewards, so read through them carefully.

Deposit Matching Bonus

Crypto betting sites use best deposit match bonuses to motivate players to fund their accounts. They want more business from you, so they promise to top up your deposit with a bonus every time you make a deposit. Unlike welcome bonuses, these kinds of promos are not specific to new players. Every casino has at least three categories of gamblers; new sign-ups, existing ordinary players, and loyal or VIP gamblers. A sports betting casino can choose to offer deposit match-up bonuses to a specific class or players, such as VIP only, or to all the members. How it works is simple.

  • XYZ Sportsbook has a 200% Bonus on every deposit, up to $5000
  • Tom qualifies for the bonus, so he deposits $3000 in his account
  • XYZ Sportsbook immediately tops up Tom’s account with $6000

If Tom were to fund his account by a higher amount, say $7000, the maximum bonus would remain capped at 200% of the top qualifying amount, which is $5000. We are calculating our examples in USD for your easy understanding. However, this will be done in crypto in real life since that is the main currency for digital coins sportsbooks.

Reload Bonuses

There is a thing line between reloading and deposit match-up bonuses. As the name suggests, online sports betting casinos give these offerings whenever players reload their gambling accounts. A match-up bonus can also be classified as a reload bonus applied to existing players’ accounts. Online casinos are always at liberty to decide whether to offer reload bonuses to all players or specific categories. Reload bonuses are commonly attached to specific events or days. For example, you may come across Monday Reload Bonuses or Sunday Reload Bonuses. They could also be weekly or monthly. These offerings are hardly as huge as welcome bonuses, but they still count since they are usually recurring.

No Deposit, No Wagering Bonuses

We have mentioned the word “no-deposit” bonuses earlier, but let’s not want to assume that everyone understands what no deposits are. No deposit bonuses are usually awarded without requiring a gambler first to invest money into the betting platforms. These are our favourite bonuses as they give participants a chance to try to experience different sports betting casinos first-hand before deciding on whether they will proceed with them or not. They also show that a specific operator has confidence in the superiority of their products. For casinos, they win the loyalty of new gamblers. For players, it’s a chance to learn, get an experience, and potentially win free cryptocurrencies with zero investments.

On the other hand, no wagering bonuses are bonuses that have zero wagering requirements. Wagering requirements are simply the terms and conditions for each bet. Most bonus wagering requirements follow this format:

  • Wagering Times: 40x
  • Minimum wager: $25
  • Maximum Wager: 50
  • Wagering Expiry: 30 days

In our example above, 40x is the number of times you must bet your bonus to qualify to withdraw it. Each bet will be a minimum of $25 and a maximum of $50. Lastly, you must meet the 40x wagering times before the end of 30 days; otherwise, the bonus will be lifted. So if your total bonus was $500, you need to wager $500 forty times, which translates to a total wager of $20,000. No wagering bonuses don’t come with strings attached. You are eligible to start cashing out as soon as you start playing. You can withdraw your profits every time you win, as long as the amount is above the minimum pay-out requirement.

Cashback

Cashback offerings give back to gamblers some of the funds they wagered. How they work is that if you lose a bet, the casino refunds back of your loss. They are like a form of insurance as they give gamblers a longer lifeline. Cashback rewards vary from one operator to another. They could be tied on every trade, weekly, or even the total losses for an entire month. Since cashbacks are effective in client retention, online sportsbooks offer them to different categories of gamblers. For example, an operator could have VIP cashbacks rewards to offer loyal players or all gambler’s cashback rewards if one wagers a specific minimum amount of money.

Standard Sports-betting Bonus Terms

Sports betting has some terms that may be confusing to novice gamblers. You will easily find these terms in the T&Cs section of every online casino. It’s essential to understand them to avoid surprises when gambling. We picked the most important terms that every sports bettor must know.

Rollover requirements: Refers to how many times a gambler must wager funds in qualifying bets before being able to cash out bonus funds and profits. Always check if the rollover requirement applies to the bonus only or the sum of the offering and deposit.

Rollover time limits: Also referred to as wagering time restrictions. This is the maximum amount of time a bettor has to meet a bonus rollover requirement, failure to which the bonus could be cancelled.

Minimum bet slip odds: This refers to the minimum odds that a player must take for one’s bet slips to qualify for wagering requirements.

Welcome package: Crypto casinos offer multiple benefits to new account users on their platform. The combined number of offerings to a new sign-up is a welcome package.

Eligible Markets: Betting markets are all the products offered by a sports book. They can be as little as ten to as high as thousands of markets. Eligible markets are those that count towards bonus wagering requirements.

Handle: This is the cumulative value that a bookmaker allows per event or game. For example, a handle of $5M means the bookmaker doesn’t allow players to stake more than that amount.

Moneyline: A Moneyline bet is where a gambler plays by predicting the outright winner. Underdogs are usually listed with positive odds, while favorites have negative odds.

Get Bonus

Sign up with your preferred sportsbook: Do your research and find the most suitable crypto sports betting site. Then, sign up and complete your profile to keep your account ready for action.

Read Bonus Terms: Bonus offerings all come with different terms and conditions. Therefore, it pays to read them and make sure you understand all the requirements and conditions before claiming different bonuses.

Speak to Client Support: Head to the live chat or email support and speak to the customer care department to clear out any issues, ask questions and make sure you have understood how different bonuses work.

Get your bonus: Some bonuses may require a PROMO code; you can get it from the customer care department, including a guide for using the codes. If a deposit is required to claim a bonus, go ahead and fund your account with the minimum deposit requirement.

Enjoy your bonus: Start wagering as soon as you receive the bonus. However, don’t forget to stick to the maximum and minimum wagering requirements. Fulfilling your wagering requirements before the expiry of the rollover time limit should be on top of your mind.

Popular Cryptocurrency for Betting

Bitcoin dAppGambl Bitcoin Sports Betting

Bitcoin was the first crypto to be used in sports betting. It’s the largest crypto by market cap and has grown in popularity so much that many people think cryptocurrency only refers to Bitcoin. Stake.com, Cloudbet, and Sportsbet are some providers offering Bitcoin sports betting.

Ethereum v dAppGambl Ethereum Sports Betting

Ethereum is the second-largest digital currency by market cap. It has also penetrated online casinos already. Since the Ethereum network supports dApps and smart contracts, Ethereum sports betting ranges from simple online sports betting to dApp-based sports betting powered by smart contracts.

You can find Ethereum sports betting at, Wild Casino, Sports-betting Casino, and MyStake Casino.

XRP dAppGambl Ripple Sports Betting

XRP is one of the cryptocurrencies that has been at the centre of attention in the past two years. Not just because the company is battling the SEC but also due to the multiple benefits it comes with. Ripple sportsbook gives users an opportunity to wager on the largest sports leagues worldwide, such as NBA, WNBA, and WTA. Users can also place bets on football, basketball, golf, hockey, tennis, and even martial arts. Betway, FortuneJack, and Betnomi are good ripple sports-betting platforms.

Cardano dAppGambl Cardano Sports Betting

Cardano sports betting is very new. You may not find many websites that currently support Cardano sports betting, but like Bitcoin, Ethereum, and Ripple, you can be sure that the digital coin’s popularity in sports gambling is rising fast. Cardano sports betting introduces fast transaction speeds giving gamblers a chance to quickly fund their accounts and withdraw their profits in lightning speed. Transactions are also relatively affordable, making it a good choice for gambling. Cloudbet, BC.Game, and Sportsbet.io are some

DOGE dAppGambl Dogecoin Sports Betting

The popular meme coin, Dogecoin, has grown beyond the joke that founded it and found meaningful use cases. Dogecoin sports betting works by letting players wager on their favourite sports using the DOGE. Your stake is secure because the Dogecoin blockchain network is safe, immutable, and can’t be hacked. DOGE deposits are secured through a proof of work consensus mechanism that makes them safe and relatively faster than fiat gambling as there is no need for a central authority. Sign up with Stake.com, Thunderpick casino, or 22Bet to enjoy seamless Dogecoin sports betting.

Litecoin dAppGambl Litecoin Sports Betting

Litecoin is one of the major digital coins today. It ranks at position 20 in market cap as of writing this and has been adopted by various sportsbooks to facilitate betting. Suppose you were wondering why Litecoin, the virtual currency has five to ten times faster transaction speed than fiat, making it reliable and effective in sports betting. Bettors can easily fund their accounts in time, even on short time limits, and wager on their favorite sports. Our top-ranking sportsbook, Stake.com, has you covered when it comes to Litecoin sports betting. XBet, Casobet, and BC.Game are also reliable.

Binance Coin dAppGambl Binance Coin Sports Betting

Binance coin is the latest crypto to enter the world of sports betting. It’s the native coin issued by the popular Binance Exchange. Anyone who hasn’t heard about Binance must definitely be living under a rock! As one of the world’s top utility tokens, Binance coin offers a unique chance for gamblers to bet on different sports. It’s also easy to transact between Binance exchange and your sportsbook when it comes to binance coin sports betting. Get an account with Bitcoin, Rocketpot, or Betfury to get started now.

BCH dAppGambl Bitcoin Cash Sports Betting

Gamblers can legally fund their sportsbook accounts with Bitcoin cash and use it to wager. Bitcoin cash is a permission-less open network released in 2017 as a fork of Bitcoin. Unlike Bitcoin, it handles larger volumes of transactions per second, which in theory means that bitcoin cash sports betting facilitates quick payments in and out of your trusted sports betting site. Remember to go through the terms and conditions of your sports betting provider to make sure you’re using bitcoin cash in tandem with their policies. To start, consider signing up with MyStake, Thunderpick, or Cloudbet casino.

Solana dAppGambl Solana Sports Betting

Solana, popularly referred to as the “Ethereum killer,” is well-known for its super fast and low-cost payment solution. In addition, Solana sports betting assures gamblers of a safe and fair wagering environment. Although most Solana sports betting sites are legal, we recommend double-checking their reputation before settling on one. Don’t also forget to compare additional features of each sports book such as user-friendliness and customer support. Most importantly, the Solana sports betting platform you select should have your favorite sports options. Crashino, Betfury, and BC.Game are some excellent options to start with if you want to get started with Solana sports betting.

Stellar dAppGambl Steller Sports Betting

Released in 2014, Stellar shares a lot of similarities with XRP Ripple. It’s a payment network created to facilitate easy transactions between everyone, including people that are not eligible to own traditional bank accounts. Stellar’s super-fast and cost-effective transactions give it an upper hand in sports betting over Ethereum, whose gas fees can primarily affect transaction costs. Lumen is its token, and that’s what gamblers use for sports betting. The crypto has enormous growth potential, meaning, apart from stellar sports betting winnings, users can also make a profit when the value of the crypto rises. Bitcasino, Duelbits, and Foggy Star are good options for Steller sports betting.

USDT dAppGambl Tether Sports Betting

Popularly known by its symbol USDT, Tether is a stable coin derivative of the US dollar. Unlike other cryptos, it’s been created to always stay at a value of $1 at all times. This makes it more stable than other digital coins that suffer from cycles of burst and crash due to unexpected volatility. Due to its stability, tether sports betting is becoming one of the most popular crypto betting methods. In addition, the ability of gamblers to deposit and withdraw funds seamlessly without fear of sudden wild negative price swings is giving other digital coins a run for their money. Tether is also one of the largest cryptos by market cap, with more than $30 billion daily trading volume. If you’re looking to get started with Tether sports betting, you may consider, SportsBet.io, Cloudbet and 22Bet.

Which Exchange To Use For Crypto Betting?

The concept of Bitcoin Betting Exchanges may seem new, but it’s been there for a while. So what is a Bitcoin Betting Exchange? In answering the question, we need to realize that these are two separate words combined. Bitcoin Betting + Bitcoin Exchange. So can we safely define Bitcoin Betting Exchanges as Bitcoin Betting sites with an exchange? Well, that sounds right, but that is not it. Bitcoin Betting Exchanges are very similar to Bitcoin betting sites, except that players bet against each other for the exchanges. Gamblers wager against the bookmaker who adds a spread or margin on every bet generated in traditional sportsbooks. That makes traditional sports betting naturally more expensive to players than Bitcoin sports betting exchanges. Some of the leading Bitcoin Betting Exchanges in the market are:

  • Fairlay: Top liquidity Bitcoin Betting Exchange
  • BetBTC: High Odds Bitcoin Betting Exchange
  • Betmoose: Create your own Bets
  • BetOpen.co: Multi-lingual Bitcoin Betting Exchange
  • Bookmaker.EU: US Accepted Bitcoin Betting Exchange

Pros and Cons of Cryptocurrency Sports Betting

Pros

  • Speedy transactions.
  • Straightforward transactions.
  • Higher payment limits.
  • Privacy and security.
  • Low or zero transaction charges.

Cons

  • Less regulation.
  • The market can get wildly volatile.
  • Transactions are irreversible.

Crypto Betting Sports Leagues

Soccer is the most popular sport across the globe. It’s estimated that the European football league alone generates over $30 billion a season. So we will focus on the top crypto betting football sports league.

Champions League: This is Europe’s top-notch football league made up of the top 32 European soccer clubs from their country leagues. Winners get automatic eligibility for the next season.

English Premier League: Popularly known as EPL, this league comprises 20 teams; 17 from the leading 17 of the previous season and 3 new teams that have been promoted. It’s considered the most income-generating football league in Europe.

Spanish La Liga: Most commonly going by the name La Liga, this is the leading club football tournament in Spain. The team selection is similar to that of EPL. Sports betting sites offer tens of options for wagering on La Liga.

Bundes Liga: The German Bundes Liga is the leading football tournament in Germany. It’s overseen by the German Football Association and follows the same 20-team format as EPL and La Liga.

French Ligue 1: French Ligue 1 is the highest football competition in France, just like Bundes Liga for Germany and La Liga for Spain. The main participating teams include Paris Saint Germain, Monaco, Marseille, Olympique Lyonnais, and Lille Olympique Sporting Club.

Italian Serie A: Finally, we have the Italian Serie A, comprising 20 teams and administered by the National Professionals League Serie A. AC Milan, Inter Milan, Roma and Juventus are among the most popular teams in this league.

Types of Sports Bets

You’re going to come across many types of sports betting, so you got to understand them from the onset. The wide variety of sports betting methods is one factor that makes it enjoyable. We chose the most common types of Sports bets you should know.

Money Line Bets: This is the simplest and most common. It’s a zero-sum bet. For example, if you’re placing your bet on AC Milan, you only get paid if they win. You go home with nothing if they lose.

Point Spread: This bet allocates a margin to a team’s chances of success. For example, a margin of -8 means your team must win by at least 8 points. The opposing team would have a +8 margin, meaning it must win or lose by not more than 8 points.

Over/Under (Totals): This is also called the point total sports bet or over/under. They are effortless; a bettor wagers on whether a total combined score by both teams will go under or over the set point total.

Parlay Bets: Commonly referred to as multi-bets in crypto sports betting. Parlay bets only win when every leg or bet makes up the parlay win. Meaning, if only three out of a four-legs from parlay win, you are losing the entire bet. Parlay bets are attractive as they require small amounts of bets yet carry enormous rewards for the winner.

Prop Bets: Prop bets are usually not directly tied to the final game outcome. For example, a bettor can wager on the performance of one player as opposed to the entire team. This is called player prop. We also have a game prop, where one can bet on a specific event that may happen during the game, such as the first team to score.

How will crypto change the future of Sportsbooks?

Crypto sports betting is still new phenomenon. There is very little reliable data to make accurate predictions on the future of crypto sports betting. Currently, players can wager using different virtual coins such as Ethereum, Bitcoin, Dogecoin, Litecoin, Solana, and Stellar. There are improved transaction speeds, security, and anonymity as compared to traditional sports betting. The cost of making transactions has also gone considerably low. As more casinos and sportsbooks adopt cryptocurrency in gambling, innovations will naturally increase.

Crypto is likely to introduce an era of pure digital coin sports betting where fiat is a thing of the past. The immutable nature of blockchain will guarantee more security and fairness and eliminate trust issues between players and bookmakers. The most notable impact that crypto will have on the future of Sportsbooks could be tied to Decentralized Finance. DeFi comes with a whole new technology set, including the Web3 and the Metaverse. It may not be possible to predict the exact events that will occur in the future, but it’s undeniable that we are heading into a future of fully immersive sportsbooks with integrated crypto payments and even such things as NFT horse racing.

Final Thoughts

There are many ways to earn cryptocurrencies. You may participate in mining, such as Ethereum mining, accept digital currencies as payments for services and goods you offer, receive a crypto gift from friends and family, or buy from a crypto exchange like Binance and Coinbase. While all these seem reasonable, there is one option left; sports betting. It is the most convenient and fun way of earning cryptocurrencies. What’s more, it doesn’t require your time as you can do it in your free moments. The investment requirements can also be meagre compared to the expected returns. Parlay bets, for example, can earn you as much as $5000 worth of crypto for an investment of as low as $20. This is why crypto sports betting is spreading faster than wildfire. Of course, other benefits of blockchain technology, such as safety, are a contributing factor too. That said, cryptocurrencies remain some of the most volatile assets in the entire financial industry. Do not invest money you cannot afford to lose.

FAQs

1. How Many People Use Cryptocurrency Betting?

Cryptocurrency betting is spreading fast like wildfire. The general population of crypto users is estimated at 300 million globally. Although there is little information about the number of crypto holders in gambling, we can count that over 3 million people wager with crypto if only 1% of digital currency enthusiasts are bettors. The numbers are definitely higher.

2. Do I need to be a sports expert to bet on sports?

One of the reasons sports betting has grown so popular is that anyone can do it. You don’t need to be an expert in sports to wager successfully. However, having a good understanding of a sport can play a role in how you analyse your options when picking a team to wager on.

3.What is fantasy sports betting?

As the name goes, fantasy sports betting is about placing wagers on fantasy teams for your preferred sport. Unlike ordinary sports betting, where players bet on the outcome of a particular game, fantasy sports betting involves picking your team and supporting it throughout that sport’s season. As long as your fantasy team is doing well, you’ll be earning points along the season. In the end, the bettor takes home huge prizes if the team wins.

Eugene Abungana
Written by Eugene Abungana verified symbol Investment Analyst, Financial Analyst, and Institutional Trader
107 Articles

Eugene is an investment analyst, MQL developer, financial trader and an expert in blockchain technology. He is a graduate in economics and holds additional studies in sustainable retirement investments. In addition, he has a background in literary journalism and experience in private fund management, institutional trading, and online broker setup. Eugene is a specialist at breaking down complex finance and investment topics into a simple read for everyone.

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Reviewed and Fact Checked by Vlad Hategan , NFT Gaming Specialist