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The Future of Crypto Sportsbooks

By Hank Blaine

There will always be a place for traditional sportsbooks. The main reason is that the world’s largest sports betting market, the United States, has begun to open to legalized sports betting. Organizations in the U.S. do not currently accept Bitcoin, Ethereum, or Litecoin as ways to fund their sports betting accounts.

But although DraftKings, Caesars, and BetMGM don’t currently accept cryptocurrency funding, that doesn’t mean that crypto sportsbooks don’t have a bright future. In fact, the future of sportsbooks in general requires crypto acceptance. See why crypto sportsbooks will only become stronger in the future.

Reasons Why Crypto Sportsbooks Have a Bright Future

Major Finance Firms Are Releasing Bitcoin ETFs and an Ethereum ETF is on the Horizon

Even before the halving, major U.S. banks and finance firms like Chase and Blackrock had developed Bitcoin ETFs. All it took was Gary Gensler, the SEC Chairman, to give the okay.

,p>Now that Chase, Blackrock, and their friends have accepted Bitcoin, it’s only a matter of time before they accept Ethereum. Once an Ethereum ETF lands, the two largest coins by market cap in existence will have gone mainstream. Mainstream acceptance of cryptocurrencies will further boost crypto sportsbooks.

Crypto Sportsbooks Offer Zero Fees to Deposit and Don’t Require KYC Rules

It takes an email to open a crypto sportsbook account. What this means is that unlike traditional sportsbooks, cryptocurrency sportsbooks don’t require Know Your Customer rules.

For many gamblers, this is a good thing. The reason a traditional sportsbook must follow KYC is that their funding methods, often AHC or credit cards, depends on knowing who they are dealing with. Also, sportsbooks in the U.S. require sports bettors to provide all relevant information due to different state gambling regulations.

Anonymity Reigns in the Crypto Space

Sports bettors, all gamblers, want to remain anonymous. There are several reasons why, and it doesn’t matter why because crypto sportsbooks are entities that value anonymity.

Predictions on the Future of Crypto Sportsbooks

Here are our top four predictions for the future of the crypto sportsbook industry.

Crypto Sportsbooks Will Continue to Add Different Currency Funding Methods

Right now, we can fund our accounts with Bitcoin, Ethereum, Litecoin, USDT, and bitcoin cash. In the future, we will be able to fund our accounts with other possible layer-1 chains like Avalanche and Solana. There is a good chance that few layer-2’s will get into the funding mix.

Casual Sports Bettors Will Transition from Traditional Platforms to Crypto Sportsbooks

There are distinct reasons why a casual sports bettor will want to go crypto. This change will happen suddenly and quickly. The top reason is that crypto sportsbooks over 90% of the time offer higher payouts.

The second reason is that casual sports bettors will realize how difficult it is to profit. The third is because casual sports bettors, the more experience they gain, will tell them they want to remain as anonymous as possible.

Crypto Sportsbooks Will Take the Gaming, AI, Meme Coin Road

The hottest thing in crypto right now are meme coin gaming and AI layer-2 chains. Immutable (IMX), Beam, and Gala have become popular in the crypto space. Soon, organizations like Nitrobetting.eu might explore creating their tokens.

Why would other crypto organizations create their coins? Community is the best way to build and maintain a chain. Immutable’s chain is fast becoming one of the most popular in the industry. As of April 19, IMX is the thirty-seventh most popular coin in existence. Not bad for a meme coin.

Crypto sportsbooks will want to compete with other crypto books by creating native tokens and building their communities. Doing so will advance the crypto sportsbook industry.

Where to Bet on Sports with Crypto

Sports betting odds are available all year round here at Nitrobetting.eu. Create a Nitrobetting.eu 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.

*All odds stated are subject to change without prior notice.

READ MORE: The Impact of Crypto Betting on Traditional Sports Betting