One bitcoin is presently trading for $425. Bitcoin (BTC) has enjoyed its fair share of ups and downs in recent times, and online sports bettors have celebrated the consistency of the digital crypto-currency.
The simple fact of the matter is that the steadier bitcoin holds, the more online sports bettors will replace their standard transactions with BTC.
When making a deposit to an online sportsbook involves getting the third degree from cash workers, or ridiculous credit card fees (with an acceptance rate similar to that of the public opinion of US politicians among their constituents), it is clear that the industry is ready for change.
Change that will allow online sports bettors to easily and without hassle fund their sports betting accounts, and with the same ease place withdrawals without cost.
However, bitcoin is not plug and play. Research is required. Players need to first create a bitcoin wallet, such as with CoinBase for example, and then proceed to link a bank account to upload funds. Of course, players could purchase bitcoin other ways, using cash, credit card, or other, but that would take more time and effort for a newbie looking to wet their beak.
CoinBase is the biggest wallet available for North Americans, though the wallet does not wish to actively serve known gambling merchants, and are able to identify these merchants who do not alternate their receiving and sending IDs. Some bitcoin sportsbooks, like Nitrogen Sports (SBR rating B) for example, claim that they use unique codes such that websites like CoinBase could not possibly link player activity to their betting transactions.
In 2015 alone, more than 30 online sportsbooks listed in the rating guide added bitcoin as a way for sports bettors to deposit and withdraw. This number is only expected to rise in 2016, as more operators recognize that players are thirsty for a cheap and easy way to fund their accounts, without the requirement of leaving their swivel chair and traveling across the neighborhood all to make a simple sports bet.
Sports bettors can find more detailed information on sportsbooks accepting bitcoin using the SBR guide, created during the fall of last year.