Amid Fantasy & eSports Drama, One Niche Industry Remains Steady

There has been a steady stream of negative headlines marring the daily fantasy sports betting and eSports arenas as of late.

Between insider trading scandals, match fixing, the wrath of state-appointed gambling commissions and Attorney General inquiries, October has not been a kind month for select niche betting industries.

One niche industry that has emerged relatively unscathed and recorded gains to boot is bitcoin sports betting.

Sportsbook Review has extensively monitored and covered bitcoin sportsbooks since last year. Presently, 35 online sportsbooks are listed in the sportsbook rating guide as accepting bitcoin for player deposits and withdrawals.

Why Bitcoin is not offered at all online sportsbooks
Many convenient cashier options are not available to players based in the United States. Even Canadians can no longer enjoy eWallets Skrill and Neteller for transactions to online sportsbooks, though Canucks have the luxury of Instant Banking and more consistent credit card acceptance rates.

Players based in countries like the United Kingdom where sports betting is fully legal have an array of convenient ways to fund online sportsbook accounts. Bitcoin is still a relatively nascent option as it relates to sports betting, and it is not the most newbie friendly cashier option on the planet. Walk down any street in any major city and ask the average passerby what anonymous digital crypto-currencies mean to them and ask about coin mining and block-chains.

Sportsbooks are in the business of making money and catering to the needs of their clients. Bitcoin is a lot like a life-raft for players in the US who are drowning with the lack of convenient processing options, but this is not a problem felt around the world.

That being said, online sportsbooks in regulated markets are not asleep at the wheel; but there is no need for publicly traded companies to get involved with a political hot potato like bitcoin (which has been linked to some unscrupulous usages) when players are not having a hard time funding accounts.

Swings of Bitcoin Value
There has been some swings, to be sure. Bitcoin briefly dipped below $200 for the first time in over a year on 8/25, but quickly rebounded, and has for the most part steadily ascended from the $230s and is now knocking on the $270 door.

Below is a chart showing the latest two months of bitcoin value fluctuations. The data provided is courtesy of Coindesk.com, a bitcoin information portal.

Date Close
10/19/2015 264
10/18/2015 263
10/17/2015 271
10/16/2015 263
10/15/2015 255
10/14/2015 253
10/13/2015 250
10/12/2015 246
10/11/2015 248
10/10/2015 245
10/9/2015 244
10/8/2015 243
10/7/2015 243
10/6/2015 246
10/5/2015 241
10/4/2015 239
10/3/2015 239
10/2/2015 237
10/1/2015 238
9/30/2015 236
9/29/2015 237
9/28/2015 239
9/27/2015 233
9/26/2015 234
9/25/2015 235
9/24/2015 234
9/23/2015 230
9/22/2015 231
9/21/2015 227
9/20/2015 231
9/19/2015 231
9/18/2015 233
9/17/2015 233
9/16/2015 229
9/15/2015 230
9/14/2015 230
9/13/2015 230
9/12/2015 235
9/11/2015 240
9/10/2015 239
9/9/2015 238
9/8/2015 244
9/7/2015 240
9/6/2015 239
9/5/2015 235
9/4/2015 230
9/3/2015 227
9/2/2015 229
9/1/2015 227

Discuss Bitcoin with other Bettors
Sportsbook Review created a bitcoin sports betting discussion forum for enthusiasts to chat and share feedback on bitcoin exclusive sportsbooks.

 
 

 


 

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