Bitcoin Sports Betting: Market Watch

Share with:

Bitcoin is trading at $228 near the end of the day Wednesday, June 10.

A positive for sports bettors still considering whether or not to start making deposits using BTC is that the value has been consistent overall in the last two months.

This consistency will help reassure bettors that their bankrolls won't be worth significantly less if they don't bother to cash out for a week or two, and may even be worth more.

Sportsbook Review published a bitcoin review guide for choosing a bitcoin sportsbook last fall. At the same time, SBR introduced a bitcoin exclusive website (Nitrogen Sports) to the sportsbook rating guide for the first time.

Why is bitcoin so popular for sports betting?
#1. The transactions are often free, and always free at a bitcoin exclusive betting website.
#2. No fear of prying government eyes or the tax man when making bitcoin transactions.
#3. Payouts are often processed instantly or within minutes, allowing players to move funds without taking trips to convenience stores, dealing with bank fees, or mailing a cheque which can take days to be delivered or even get lost in the post.

If bitcoin is so great, why doesn't every online sportsbook offer BTC?
#1. Any time a currency can swing from being worth over $1,000 to $228, an online sports bettor isn't going to feel comfortable leaving his funds in an account for too long. A guy who simply wants to put funds somewhere for the duration of an entire NFL season isn't going to want to be bothered with constantly moving BTC around.
#2. Some players have reservations about depositing with bitcoin exclusive websites, since they have not been online as long as established, reputable sportsbooks.
#3. It's kind of confusing for everyman to wrap his or her head around. Some of us can barely turn our computers on and off.

The following chart lists the daily closing price of bitcoin over the previous quarter of 2015 (data courtesy of Coindesk.com):

Date Close Price Date Close Price
6/11/2015 229.14 4/25/2015 225.85
6/10/2015 228.95 4/24/2015 230.79
6/9/2015 229.33 4/23/2015 235.56
6/8/2015 228.65 4/22/2015 233.92
6/7/2015 223.39 4/21/2015 235.81
6/6/2015 225.68 4/20/2015 224.31
6/5/2015 225.04 4/19/2015 221.69
6/4/2015 224.37 4/18/2015 222.84
6/3/2015 225.65 4/17/2015 222.23
6/2/2015 225.75 4/16/2015 228.11
6/1/2015 223.31 4/15/2015 223.57
5/31/2015 230 4/14/2015 218.27
5/30/2015 233.29 4/13/2015 223.41
5/29/2015 237.1 4/12/2015 235.64
5/28/2015 237.47 4/11/2015 236.12
5/27/2015 237.18 4/10/2015 235.22
5/26/2015 237.33 4/9/2015 243.26
5/25/2015 237.49 4/8/2015 244.36
5/24/2015 241.19 4/7/2015 252.8
5/23/2015 239.03 4/6/2015 254.52
5/22/2015 240.52 4/5/2015 259.95
5/21/2015 235.3 4/4/2015 253.12
5/20/2015 234.25 4/3/2015 253.54
5/19/2015 231.94 4/2/2015 252.26
5/18/2015 232.87 4/1/2015 246.55
5/17/2015 236.1 3/31/2015 243.39
5/16/2015 235.73 3/30/2015 246.85
5/15/2015 237.31 3/29/2015 242.02
5/14/2015 236.74 3/28/2015 252.25
5/13/2015 235.8 3/27/2015 246.58
5/12/2015 240.99 3/26/2015 247.65
5/11/2015 241.85 3/25/2015 246.13
5/10/2015 239.63 3/24/2015 245.44
5/9/2015 240.48 3/23/2015 265.94
5/8/2015 243.39 3/22/2015 267.8
5/7/2015 237.78 3/21/2015 259.62
5/6/2015 230.05 3/20/2015 260.84
5/5/2015 236.55 3/19/2015 259.74
5/4/2015 238.77 3/18/2015 255.37
5/3/2015 240.12 3/17/2015 284.46
5/2/2015 234.9 3/16/2015 290.38
5/1/2015 232.12 3/15/2015 285.34
4/30/2015 236.57 3/14/2015 281.36
4/29/2015 225.98 3/13/2015 284.28
4/28/2015 225.68 3/12/2015 293.87
4/27/2015 228.5 3/11/2015 295.83
4/26/2015 218.81 3/10/2015 290.51

Sportsbook Review will keep readers updated on how the anonymous crypto-currency performs during the second half of 2015.

Poster's Poll
A+
675 Pts
A+
665 Pts
A+
380 Pts
A+
310 Pts
A+
165 Pts

Contact Us