Beyond Bitcoin: The crypto spectrum in online sports betting

Online bookmakers are evolving, and Sportsbet.io is at the forefront of this change. The platform has integrated cryptocurrencies as payment methods. This initiative is not just about embracing new technologies but it’s also about broader implications for security, accessibility, and user autonomy.
From popular digital assets like Bitcoin (BTC) and Ethereum (ETH) to niche choices like Dogecoin (DOGE), each crypto brings its own unique benefits and challenges. As you delve into this new horizon, explore the diversity of crypto at Sportsbet.io.
Bet using crypto on in-play events
Sportsbooks expand support to more cryptocurrencies
When Sportsbet.io started as a crypto betting website, its choices were limited with support extended only to the most valuable crypto in the market. Over time, this has changed. As more blockchains show prominence in decentralised finance, the platform has expanded its range of payment options to include a wider variety of digital assets.
Here’s the standard process of which crypto is typically chosen first as payment methods in a sportsbook, followed by how it expands to other assets:
First comes Bitcoin followed by Ethereum
BTC and ETH are usually the first to be supported in all crypto businesses. Mostly because they are the most valuable digital assets globally, and every company wants to be part of their ecosystems. On top of that, they also have a simple peer-to-peer (P2P) payment system, making them easy for most businesses to use.
Further support for Bitcoin-like assets like Litecoin
Bitcoin and Ethereum can be too volatile which can make it tough for customers, especially new ones, who are looking for a casual gambling experience at Sportsbet.io. Thus, providing support for less-expensive crypto like Litecoin (LTC) is the next step.
Litecoin is often called ‘silver to Bitcoin’s gold’ because it’s not as expensive but it is volatile so it can also be valuable for long-term investors. What makes it appealing as an alternative to Bitcoin is how similar its network is, making it easy to support various investors. It is also growing in popularity among developers because its infrastructure is used for crypto projects.
Stablecoin rose in popularity with Tether and USD Coin
BTC, ETH, and LTC are popular among traders because their values can change a lot. However, there is also a need for stable currency value while still benefiting from blockchain technology. That’s where stablecoins come in, allowing gamblers to use currencies that are almost the same as the United States dollar (USD).
The first stablecoin that was supported was Tether (USDT) which is handled by a centralised entity, Tether Limited Inc. to give the assets fiat backing. However, this is backed using a diverse set of assets including fiat currencies worldwide. USD Coin (USDC) emerged as a decentralised alternative to USDT with 1:1 USD backing.
Try your hand at crypto esports betting
Advantages of using crypto in sports betting
Sportsbet.io is primarily a crypto betting platform for all major sports events worldwide. But why did the site opt for digital assets over fiat support? Here are the advantages it offers for your crypto sports betting experience:
Digital assets are more convenient than fiat
Blockchain-based finance is created to address traditional banking’s issues such as the reliability of a trust-based payment system. Banks have many points of error that can delay or cancel your payment.
Blockchain doesn’t suffer the same weakness. Its structure consists of an interconnected chain of blocks that store transaction data. If the optimal route for your transaction is blocked or unavailable, it can be rerouted to continue its process. Your payment will always reach its destination which applies to both deposits and withdrawals.
Crypto transactions are anonymous
Fiat payment methods offer confidentiality. You have to trust your bank or payment solutions provider to keep your personal information private. In contrast, blockchain operates on a trustless system because you don’t need to provide your personal information to anyone. All it needs is your private keys and wallet address to give you full control of your finances.
Volatile assets are more rewarding to hold
Fiat currencies are subject to inflation, rendering their value less with each passing year. Cryptocurrencies like BTC, ETH, DOGE, and MATIC are all volatile with prices fluctuating every 10 minutes at online marketplaces.
Crypto value can reach new all-time highs every year and you can profit from spot trading or long-term investment. Hence why crypto sports betting is much more exciting than staking using fiat money. Even if the price is in a downward trend, keep it in your bankroll and wait for the next bullish trend to sell them.
Enjoy crypto sports betting at Sportsbet.io
Have a blast with your crypto sports betting experience at Sportsbet.io – the best Bitcoin bookmaker worldwide. Covering all major tournaments like the Olympics, World Cups, and all domestic league competitions, the platform offers plenty of significant events for betting. You can also use Sportsbet.io’s robust features:
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Telegram betting bot → Use the Telegram messaging app to place bets on any sports event. With just a few taps, you can choose markets, review odds, and set your bet size even without logging into your Sportsbet account.
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Bet Sharing → Share your bet slip using WhatsApp or Telegram. Just use the ‘bet sharing’ button after finalising your wagers and discuss your predictions with your friends and peers.
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Mobile App → Sportsbet.io is a browser-based service but all of its robust features can be more fun to use in an optimised app. Use the mobile app version for that exact experience.
Catch the excitement and bet with crypto at Sportsbet.io
DISCLAIMER
The information provided by the blog above on Sportsbet.io is for general information purposes only. All information on the Site is provided in good faith, however, we make no representation, warranty, or guarantee of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, or completeness of any information or betting tips on the Site.