Bitcoin's rollercoaster ride into the $16,000 and up territory has made sports gamblers holding part of their bankrolls in bitcoin very happy.
The only downside is that with the massive price increase, the size of bitcoin fees have also skyrocketed, as 0.001 BTC is right now floating around $16, so a $50 deposit instead becomes a $66 transaction. Bitcoin wallets use fixed fees, so this amount remains the same even if you had deposited $5,000.
Online sportsbook Nitrogen (SBR rating B+), one of the most popular bitcoin exclusive betting sites which made a name for itself for withdrawals within minutes and no fees, has now changed their policy to limit players to one free withdrawal per week. Subsequent withdrawals will incur a 0.001 BTC fee.
SBR expects that other sportsbooks may begin to do the same and charge players a flat fee to mitigate the transaction fee.