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During the last decade, sports betting has become a passionate pastime for many people. 

Whether one is an established punter or a newbie to the world of gambling – and heading to UK sports betting sites not on Gamstop – you can bet on horse racing, football, tennis, basketball, baseball or many other sports. 

Sports betting is now a multi-billion-pound industry.

Some punters consider sports betting something of a science as skill and knowledge can make a big difference. With the advent of modern technology, sports betting has become more popular and accessible. Gone are the days when bettors had to go to their local betting shops and place their bets on their favourite sports or team; likewise football fans sticking to their transistor radio every Saturday afternoon to listen to the incoming results of the various football matches being played or the rumbling of horses crossing finishing lines. 

The improvement of sports betting through television sets, laptops, or smart telephones has made it easier for punters to place bets on different sports activities all the time and from anywhere. Whether one is at the office or travelling on a train or bus, or just relaxing on the beach or park, placing a bet is just a click away.

The gambling world is at your fingertips 

Streaming sports activities like football, baseball, or basketball provides punters with the entertainment and excitement of watching how the bet is faring in real-time. Changing bets at halftime or just a few minutes before the commencement of the game is also available.

To make it more interactive, most gambling platforms offer sub-sites full of details and information on football teams, jockeys, horses and players involved in various sports events. This makes it possible for the punter to brief oneself on the performance of the team, player, or horse and the possibility of repeating one’s success or failure. Knowledge is a crucial factor upon which punters can ponder before placing wagers. They also offer the use of cryptocurrencies instead of the traditional payment or paying of winnings. Like everything in the world, the use of cryptocurrency in sports betting has its pros and cons.

The rise of the cryptocurrency market and blockchain

The introduction of cryptocurrencies to conduct business continues to multiply. One important aspect of crypto is that it is untraceable and provides anonymity to the bettor. Some bettors prefer to keep their betting practice to themselves, which was impossible through traditional financial transactions. Cryptocurrencies have allowed punters to keep their identities away from public view.

Gambling using cryptocurrencies and its advantages

Today, betting sites accept major cryptocurrencies as a transaction medium between the platform and the punter. Such sites and platforms are collectively known as crypto sports betting sites, and the introduction of crypto to traditional financial transactions has really changed the face of sports betting. Punters with crypto accounts and assets like Bitcoin and Ethereum can freely use them to finance their gambling activities. Bettors who do not possess crypto assets can obtain and buy such assets from crypto brokers at the going exchange rates.

Two major advantages of crypto are the safety of transactions and anonymity and privacy. There is no perfect financial mechanism, using crypto to bet on sports activities provides a satisfactory level of security. Encryption is a substantial level of encryption involved when creating cryptocurrencies, and Bitcoin has a stronger certainty regarding market fluctuations.

In contrast to traditional and physical currencies, crypto cannot be traced, and it provides anonymity and peace of mind to the bettor. One can make transactions on betting sites anonymously with minimal transparency. The privacy of the bettor is of paramount importance through the use of crypto to bet on sports activities.

Some disadvantages

Some of the hiccups that crypto users can face when placing bets on sports activities include:

  • Notwithstanding its popularity and ease to use, certain countries and localities impose restrictions on the use of cryptocurrencies. Not all countries allow the conclusion of financial deals through crypto; in such countries, using crypto to finance sports betting is illegal
  • Traditional funds like money at the bank, bonds, stocks, and debentures can be liquified relatively quickly; cryptocurrencies can take considerable time
  • In the absence of rules and regulations outside the limits of technology known as the blockchain, cryptocurrencies remain illegal. It is worth noting that payment done in Bitcoin cannot be returned
  • The anonymity offered by cryptocurrencies can be beneficial but also harmful in fixing matches. It is almost impossible to track down a corrupt crypto bettor during a match-fixing instance

Introducing cryptocurrencies to bet on sports activities has simplified the betting process.