Could Bitcoins Change The Way You Bet?

Sports betting is almost as much fun as the games themselves. It ups the stakes, and lets you use the wisdom of your inner sports nerd in a way that can really pay off. For some, betting on sports goes beyond the pleasure of putting a few quid on a game, and can itself become a rich and challenging enterprise, with real money on the line to boot!

If you are this type of person, then chances are you’re probably consumed by equations, statistics, and mathematical know-how. But one new development might have passed you by. The bitcoin does not represent a change in the fundamentals of betting per se, but it can make the way you bet a whole lot simpler.

Below, we look at what a bitcoin is, and why it might be the stress-free alternative to traditional currencies.

So what is a Bitcoin?

Bitcoins are a digital form of currency created via complex mathematics. They were invented in 2008 by a developer called Satoshi Nakamoto, who to this day remains mysterious. Bitcoins can be “mined” using specialist equipment, and many do just that. However, for most us, the simpler option would be buying bitcoins from any of the trusted vendors.

The next question is why you should use bitcoins over regular currency, and this breaks down into 4 main points.

Bitcoins Transfer is Fast, Flexible, and Under Your Control

Bitcoin transfer knows no boundaries, which means you can transfer your money across international borders, on bank holidays, and to anyone you please. Not encountering any of the usual red tape also means your transfers will happen fast, and the fact that there’s no central authority in the bitcoin network means that no one will be changing this anytime soon. This all makes betting on international games a lot easier, and lets you place your bet at the exact right time.

Bitcoins are Actively Encouraged by Merchants

Because of the high level of security, many merchants are pro-bitcoin, as it can prevent them losing out to fraud. Especially in the case of sports betting, sites like the VegasCasino, available online here even offer a bitcoin bundle in exchange for sign-up, and from there it’s an easy process to place bitcoins directly from your desktop or mobile. In addition to sports betting, the site offers bitcoin slots, blackjack and a variety of other casino games.

Bitcoins are Secure

Merchants are unable to add extra fees without first letting you know – avoiding hidden charges. On top of that, your personal information doesn’t have to be tied to your bitcoin transaction, so the dangers of identity theft are lower than with traditional payment methods. For the extra cautious, there is even a way of backing up your bitcoins, removing nearly 100% of the stress associated with making betting transactions online.

Bitcoins Cost Virtually Nothing to Transfer

Winning big, then losing out due to high transfer fees can be a real blight. Just so, even small transfer fees add up for the betting veteran. Bitcoin fees are often zero, or so close to zero as to be nominal, making them a real money saver for seasoned pros. Moreover, if time is an issue, fees can be increased to ensure your transfer goes through when you need it to, adding that element of flexibility once again.

So, if you’re a walking sports almanac or just a happy-go-lucky punter, it makes sense to put your money where your router is.