The market of sports is considered to be very massive. According to some reports, there are nearly trillions of USD worth of bets that are placed annually. In 2016, the betting profits of legal sports were mainly estimated at over 70 billion dollars, and this figure is mainly set to reach 90 billion dollars this year. Other kinds of initial coin offerings are also bringing competition worldwide to the betting market by leaving some regular gambling organizations in fear of losing clients. But the main thing that comes to our mind is how cryptocurrency and blockchain will help in the regular betting platforms for increasing the stability of bettors.
During illegal betting, the bettor loses some money while winning, but most of the bookies always end up giving the payouts, and they also have to do so in the remaining of business, but there is a chance of someone to refuse the pay up if the bet has gone wrong drastically. You can find different best crypto sports betting sites to give the best experience of using bitcoins and having crypto.
Safer and pasture experience of cryptocurrency
Using the blockchain system, the cryptocurrency always provides the anonymity and speed that has always made it ideal for all people looking to wager quickly and safely. It is also given the sports gambler with an alternative form of traditional online book. The average speed of the transactions in cryptocurrency makes the use of sportsbooks of cryptocurrencies with a safer option provided to everyone than the traditional sportsbook. You can also depose it, withdraw wager, and also have your money back in immediate control.
This is also made possible by blockchain as the network always handles the transaction at a low cost while the operators are saved the headache of managing the player’s cash. The betting market can also become faster and more stable by this system of cryptocurrencies and blockchain. E-sport is also becoming extremely popular without any regulation. In recent months and years, more attention has been focused on blockchains and cryptocurrency technology. E-sport has surged with 40% of growth in the year 2017 that makes the industry perfectly fit for blockchain technology.
Benefits of crypto betting
Cryptocurrency and blockchain always offer a huge number of opportunities for revolutionizing the industry of e-sports. A blockchain transaction is known to be more transparent and safe where the fees are decreased, and payment is also faster. More popularity of cryptocurrency has always attracted a great number of user funds and is based on the platform of digital gaming. And of course, the cryptocurrency was traded first on an exchange built of gaming cards known as Mt Gox. Gaming was only the first place for the widespread of cryptocurrency by using microtransactions. The betting system of e-sports became popular due to the betting site that allowed people to bet on matches by using virtual items. This type of betting is meant done by everyone without any regulations, and two years ago, Assad admitted this practice of rigid bet stream to promote dice platform gambling.