Sports Bettors not so hot on Bitcoin, BTC drops to $257

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In a month that has seen two new sportsbooks add bitcoin to their cashier, the value of the anonymous crypto-currency has dropped to $257 despite closing in on $300 just three weeks ago.

This type of seesaw movement is what has kept some sports bettors reluctant to move their online sports betting activity entirely to bitcoin, as the fluctuations in value negate the benefit of the no transaction fees.

Ultimately, a trip to the local Walmart to deposit with an online sportsbook via sending cash through Western Union or Moneygram has fees reimbursed over $300 at most shops, and although sending limits are lower, the value of the US dollar erodes over years to make a difference to a bettors bankroll vs. days.

SBR member Rick S. wrote in giving his feedback on the subject: "I spent the time getting a bitcoin wallet funded only to realize 20% of my bankroll would be lost through no fault of my own. WU and CC for me until this crap gets more stable."

The below chart shows the previous month of daily bitcoin activity. This data is supplied by Coindesk.com.

Date Close Price
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
7/23/2015 275.63
7/22/2015 276.62
7/21/2015 275.1
7/20/2015 278.41
7/19/2015 272.49
7/18/2015 274.49
7/17/2015 278.49
7/16/2015 277.83

Sportsbook Review reported that YouWager Sportsbook recently added bitcoin payouts to their cashier after adding support for bitcoin deposits two weeks prior.

Prior to that, on August 12 SBR reported that bitcoin sportsbook number 30 (1Vice.ag) was added to the sportsbook rating guide list of betting sites allowing bitcoin.

Jump to all sportsbooks accepting bitcoin.

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