Bitcoin falls below $200, what this means for sports bettors

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Bitcoin has now fallen below $200 for the first time (editor's note: up to $224 today 8/25) in several months.

Sports bettors have discussed the frequent movement of the crypto-currency at length at the SBR Posting Forum as there has been seesaw like movement of BTC - even some players going to the extreme of asking if gambling websites might cutoff the currency.

While that viewpoint is a little extreme and totally off the mark considering the number of high-profile bookmakers now offering bitcoin, a more realistic question should be considered.

What if any impact does this have on using bitcoin to fund sportsbook accounts?

Now more than ever, players should be cognizant of the differences between bitcoin exclusive websites and those that allow sports bettors to store their deposits in their local currency.

A list of 23 sportsbooks that convert bitcoin to USD (or native currency if supported) can be found in the sportsbook rating guide.

The sportsbooks that convert bitcoin into physical currency have the longest track records of doing right by players. While some bitcoin exclusive sites may maintain decent ratings with SBR, players are disadvantaged by having to bet in bitcoin. In a night where the currency drops $20 in value -- which is equivalent to one unit for some players -- you can actually lose money and win a wager.

The risk-averse, and even those feeling adventurous enough to fund sportsbook accounts entirely through bitcoin, are advised to stick with  reputable betting sites who offer bitcoin as a convenience but do not force players to opt for bitcoin withdrawals.

While the fluctuations can just as easily go up as they can down, players who don't want to babysit their accounts and feel like they need to watch the bitcoin market as much as they do ESPN might want to stick with what's old and familiar - online sportsbooks that not only offer bitcoin, but standard options such as WU/MG, credit card, and others.

Players can browse by sportsbook cashier options using the sportsbook rating guide.

Previous month of bitcoin ups and downs - data courtesy of

Date Close Price
8/24/2015 203.61
8/23/2015 227.59
8/22/2015 229.74
8/21/2015 231.94
8/20/2015 234.69
8/19/2015 225.39
8/18/2015 219
8/17/2015 256.98
8/16/2015 257.67
8/15/2015 260.73
8/14/2015 264.87
8/13/2015 263.34
8/12/2015 265.64
8/11/2015 270.92
8/10/2015 263.76
8/9/2015 264.44
8/8/2015 260.2
8/7/2015 279.03
8/6/2015 278.25
8/5/2015 281.38
8/4/2015 284.5
8/3/2015 280.48
8/2/2015 281.65
8/1/2015 280.04
7/31/2015 283.94
7/30/2015 287.29
7/29/2015 288.77
7/28/2015 293.79
7/27/2015 292.73
7/26/2015 291.64
7/25/2015 288.13
7/24/2015 287.97

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