Online sports bettors can find a list of bitcoin exclusive and traditional online sportsbooks that accept bitcoin using Sportsbook Review.
The difference between the two is that BTC-only betting sites expose users to the daily swings of bitcoin value and essentially make them speculators, whereas traditional books offer USD/EUR/other.
By depositing to sportsbooks that convert to standard currency, balances are protected from potential downswings in bitcoin value. Bettors who were speculating anyway however get the best of both worlds as their bankrolls can appreciate overnight even while they are wagering on games. While bitcoin has paid off handsomely to early adopters or day traders who have purchased at strategic times, there are players who have unfortunately gotten the short end of the stick and who have cashed out at a time when there was a downturn; hence the benefit in minimizing the likielihood of this scenario by dealing with traditional sportsbooks.