The Advantages of Crypto Gambling

Crypto gambling is on the rise. It’s not because of Bitcoin’s upcoming halving or because words like Binance, Ethereum, Solana, and Ripple are starting to become mainstream. Crypto betting is rising because both casual and professional sports bettors are realizing that there are massive advantages to betting with cryptocurrencies. Keep reading for the top advantages of moving from traditional currency to crypto gambling.

Top Advantages to Betting with Cryptocurrencies

Anonymity and security

The most important reason to bet with cryptocurrencies, and it’s not even close, is remaining anonymous and the security that comes with using cryptos instead of traditional, fiat currencies. When we fund our betting account through ACH or credit cards, Mastercard and Visa know who we are, where are from, where the money is going and in many cases, what the money is for.

When we use ACH, our bank knows all of those pertinent details, which is why, sometimes, our bank or credit card company refuses to allow the transaction to process.

That isn’t the case when it comes to crypto sportsbooks and casinos. Cryptocurrency transactions are peer to peer, which means the only information available to steal is the transaction information. However, it’s close to impossible to steal the transaction information, since in most cryptocurrency consensus models it would take 51% of all validators to decide to steal the information.

Not only would it take 51% of validators to decide to steal the transaction, they would have to decide to steal the transaction at the same time. Could it happen? Yes, it could, but it’s doubtful that anybody would strive to steal your specific transaction.

Anonymity is inherent in cryptocurrency sportsbooks. All it takes is an email address to open a Nitrobetting.eu account, and that’s because Nitrobetting.eu must manage a way to get in contact with you, the customer. Nitrobetting.eu doesn’t require your phone number, address, or relevant information like your bank account number.

Fast and secure transactions

Going back to the security issue, one of the reasons crypto sports betting is so safe is because of how fast the transactions are. Transactions on the Binance and Ethereum chains are much faster than those via Bitcoin, and Bitcoin is relatively fast at seven transactions a minute.

Ethereum is currently in the process of upgrading to 100,000 transactions per second, which would make it faster than Solana, and safer because ETH has a straight proof of stake model instead of proof of history, at 60,000 transactions per second.

You can fund your Nitrobetting.eu account with ETH. Again, it would take 51% of Ethereum validators to decide to steal your transaction. That’s a much higher bar than a 24-hour turnaround on a credit card transaction that must go from your credit card issuing bank, to Visa or Mastercard, and then back to your bank for the okay, and then to your gambling account.

Low transaction fees means better odds and real casino randomization

Have you ever noticed the difference between a crypto betting site’s odds and those you find in a traditional online sportsbook? Check it out some time. In almost every case, the crypto only sportsbook offers better odds to us, sports bettors.

The reason is that transaction fees are almost nonexistent. When you fund your betting accounts with credit cards, you must pay the credit card fee. But funding your account with BNB as an example, is free. Not only that, but you keep more of your winnings due to low transactions costs.

When it comes to casino gambling, true randomization exists because of a method called provably fair gaming. Algorithms ensure that casino bettors have access to provably fair gaming systems, which means game outcomes are verified independently.

Gamblers can decide to stick with a traditional online sportsbook. Doing so will lead to spending more funding their betting accounts and keeping less of their winnings. Finding an edge in a type of gambling is difficult, which is why most sports bettors and casino players should consider moving their gambling accounts to an organization like Nitrobetting.eu that is exclusively crypto based.

Where to Bet on Sports with Crypto

Sports betting odds are available all year round here at Nitrobetting. Create a Nitrobetting account now to win tons of crypto from all major sports.

Feel free to browse sports betting guides. While you are at it, go ahead and check out all the latest sports betting odds and more in our online crypto sportsbook.

READ MORE: Security and Regulation in Crypto Gambling