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Responsible Gaming Movement in Crypto Betting

By Hank Blaine

One of the most positive aspects of the crypto betting movement is that as opposed to traditional sports betting, which used to be done in back alleys and through nefarious figures, the crypto betting movement is all about responsible gaming.

Cryptocurrencies preach anonymity and individual responsibility. It makes sense, then, that as sports betting and casino gaming transition from traditional online betting to crypto betting, this idea of responsibility would also take hold. Keep reading for more info on the responsible gaming movement in crypto betting.

A Closer Look at the Responsible Gaming Movement in Crypto Betting

Utilizing the Data

One of the most important aspects of crypto betting is the utilization of data. Most crypto sportsbooks require an email address and that’s it. What it means is that crypto sportsbooks don’t misuse personal data because many of them don’t have the data.

One of the reasons Satoshi created bitcoin is because the entity (we don’t even know if Satoshi is real) wanted to develop a decentralized form of money. The most important aspect of decentralization is control over personal data. Responsible gaming means you control your personal data, not the sportsbook. This is big because many traditional sportsbooks sell your data, phone number, address, etc., to tout services.

Positive Encouragement

Crypto betting books have a much more positive attitude than traditional sportsbooks. The positivity ranges from providing community like messages and rewards, to reminding players to not get in over their heads.

Based on how communities develop for specific protocols, this makes perfect sense. Ethereum maximalists are part of a vibrant community. The Immutable (IMX) community is growing, and Ripple (XRP) enthusiasts spend much time communicating with members.

Although crypto betting has not risen to the level of protocol communities, they will soon, which will only advance the responsible gaming crypto betting aspect.

Limit Setting and Support Resources

We can take the community aspect of cryptocurrencies further by explaining how crypto betting helps players set limits. Limit setting is the key reason gamblers remain financially solid while others fall into a dark and deep hole.

Crypto betting requires us to consider how much money we are betting on each game. We must convert our dollars to mBTC and vice versa. This gives sports bettors and casino gamers an often much required pause to really think about the amount of money they are gambling. Pauses in our gambling allows us to take a deep breath and strategically think of ways to increase betting profit.

Crypto Betting is Eco-Friendly

There are few proof of work cryptocurrencies out there. Not only that, but the largest and most important, the Bitcoin Network, is down to their final 2 million coins.

So far, 19 million bitcoins have been mined. Only 2 million remain, which means proof of work is no longer the standard. The difference between proof of work and proof of stake has to do with energy consumption.

Ethereum, Litecoin, and most layer-2 coins are proof of stake. Proof of stake reaches consensus, secures the network for each crypto, via a staking process. PoS is much more eco-friendly because it uses less energy than PoW.

So by using a crypto betting book instead of a traditional online sportsbook, you are also helping the environment. It’s difficult to wrap our heads around the concept, but it’s a fact.

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: Customer Support in Crypto Betting Platforms