How Bitcoin is Changing the Sports Betting Future

By Hank Blaine • June 9, 2023

The future of sports betting is here. While many handicappers cling to fiat currency usage, many more are turning to bitcoin as a means to fund their online betting accounts. Check out the five top ways bitcoin is changing the sports betting game.

Five Ways Bitcoin is Changing the Sports Betting Game

1. Funding fees with bitcoin are lower than traditional funding methods

When we use our credit cards to fund our sports betting accounts, we often must pay a close to 10% fee. The 10% funding fee comes from our sportsbooks.

To be fair, most online sportsbooks that primarily accept fiat currency are passing on costs to us, to their players. So the 10% isn’t always sportsbook operators gouging their customers.

However, 10% is a lot. Not only that, but our credit card companies might charge a fee on top of the 10%. Fees we pay to fund our sportsbook accounts are transaction fees from where we keep our wallets, Coinbase, Cash App, etc. There is no true middle entity like Visa or Mastercard when it comes to bitcoin transactions.

2. Bitcoin sportsbooks allow players to keep their privacy

Keeping one’s privacy, especially today, is tantamount to maintaining one’s individual and digital life sovereignty.

Bitcoin sportsbooks, true BTC books like Nitrobetting, ask for a single piece of info, an email address. Since all transactions are done in bitcoin, which means they’re peer-to-peer and anonymous, there’s no reason for a BTC book to ask for more of your personal info.

3. Withdrawing winnings in bitcoin is usually faster than withdrawing fiat currency

Withdrawing in fiat currency has to go through numerous checks and balances before we can get our winnings. This makes sense because fiat currency involves centralized banks.

Bitcoin is decentralized. So withdrawals happen much faster.

4. Bitcoin sportsbooks provide fairer odds

Because bitcoin only sportsbooks don’t charge deposit or withdrawal fees, they can offer fairer odds. The house edge is often lower for a BTC book.

Money lines are often fairer. Handicap lines in soccer, the Asian handicap, are almost always more fair. As sports handicappers, the best we can do is ask for a fair line.

In a lot of ways, that’s all we can do. Fair lines allows us to use our handicapping skills to find winning plays.

5. Bitcoin sports betting is safer than fiat currency sports betting

Safety is a major concern. When we fund our sportsbooks with fiat currency, the online sportsbook must use an outside, third party, to facilitate the transactions. Many times, this outside party may not have our best interest at heart.

Sometimes, the outside party sells our information. In the worst cases, the third party commits outright fraud.

Preventing this is as easy as opening a bitcoin only sportsbook account and funding our sports betting accounts with bitcoin. Bitcoin is secure because it’s peer-to-peer and doesn’t require an outside entity.