Crypto betting is highly structured to provide the very best experience to bettors, in light of the importance of payment. In recent times, the crypto payment market for casinos and sportsbooks has been on the rise. One reason for this is the unarguably massive entry of innovative crypto startups seeking to connect crypto and betting.
As a result of this, players between 35-44 years of age, who make up a larger proportion of the betting demographics, have started playing more with cryptos. In the same vein, the best crypto sportsbooks in 2021 have different offers that players can hop on. But these offers are often fraught with questions and doubts about crypto betting generally. These questions and concerns of crypto bettors are addressed in this post.
Your crypto questions and their answers
- Is Crypto not the same as Bitcoin betting?
Bitcoin is one of the very many cryptocurrencies in the world. So, the world of cryptocurrencies exists beyond just bitcoin. Today, cryptos are commonplace in many hybrid casinos and sportsbooks. So you can bet with other cryptos asides from bitcoin.
- Can I get bonuses on crypto betting sites?
Yes, you can. Crypto betting sites offer several bonuses to their customers, whether new or existing. Therefore, provided you are eligible for these bonuses, you will be credited with them. You just have to perfect your membership on the site to be eligible.
- Are altcoins good for betting?
Altcoins are cryptocurrencies other than bitcoin. These coins are fully available for betting on different hybrid and crypto-only sites. So when you go to these sites to play, the other coins are usually available there. Popular altcoins are very good for betting, you simply need to know enough about the coin to want to bet with them.
- Is crypto betting real?
Yes, crypto betting is real and you can research more on crypto betting sites in your country. There are some offshore crypto betting companies that also aloe patronage from players around the world. you could join any of such platforms to bet. But before you start playing with real money, you should start with the demo version of a casino game. for sportsbooks, you should contact their support team for details.
- Does volatility affect crypto betting?
Volatility is a real phenomenon in the world of cryptocurrencies. Therefore, volatility also affects crypto assets when betting, ranging from bitcoin, bitcoin cash. Ethereum. Doge, among others.
- What can I do to avoid having my crypto assets affected by volatility?
Smart contracts have been in the massive application by sportsbooks to ensure that crypto deposits retain their value, even in the face of dips and price slumps. Therefore, to hedge against volatility, the best move is to bet at sportsbooks that offer smart contract options to players.
- Are there really crypto-only sportsbooks?
Yes, there are. Some sportsbooks only provide crypto betting to their players and accept no other means of payment. These promotions are offered in crypto. However, the money breakdown of their offers may be in fiat money value.
- Can I withdraw my crypto to my blockchain after a win?
Yes, you can do so. In the same way, it’s possible to withdraw your winnings to your bank account, you can also withdraw your winnings to your wallet from where you can handle it as you want.
- Is crypto betting not a waste of my time?
Crypto betting is one of the key innovations currently dominating the iGaming and overall gambling world. So, if you are looking to bet innovatively, then crypto betting will never be a waste of your time.
- Will crypto ever take over the gambling industry?
It has often been said that crypto is the future of the gambling industry. But the point of using crypto is to make payment and transactions safer and more convenient, not take other payment methods into extinction.
- Can I just start playing on crypto sites?
No, you can’t. As a matter of fact, you have to really understand what cryptos are, their importance, use, and applications before you can start thinking of using them to bet on sportsbooks. As you research new games, markets, and read head-to-heads before you bet on games, you should take your time to study cryptos, apply them where possible, before you start betting with them. You should not skip this process for anything, otherwise, you may find it difficult to stay afloat on crypto betting.
- Should I practice bankroll management with cryptos?
Yes, you should. As long as you are gambling with real money, bankroll management is inevitable if you must gamble responsibly. That you are betting with crypto is not enough reason to stop your bankroll management. In fact, bankroll management is even more important with crypto because it’s a digital asset, hence without discipline, you can easily do impulsive gambling when you are losing.
- Can my activities with crypto betting be discreet?
Yes, they can. One of the greatest advantages of gambling with crypto is that everything is highly secure, safe, and completely discreet. Your transactions exist between you and the sportsbooks, and not easily traceable by anyone. So you can have as many transactions as your pocket allows. This is even a great way to make your transactions hidden from prying government eyes for tax reasons.
- Can I win huge amounts of money on crypto betting sites?
Yes, you can. In the same way, you can land huge winnings on fiat currency-accepting bookmakers, it’s also possible to make huge winnings on your crypto bets. The only thing you need to do is to ensure you are conversant with the terms of each bet you opt for.
Betting with crypto can be really filled with exciting winnings that can have you stunned. But in doing so, it’s best to be quite familiar with what you are entering into. It wouldn’t be fair for you to start betting with crypto without proper research. Once you are abreast of the full information, you can start betting with crypto.