What are the benefits of Bitcoin esports betting?
Love it or hate it, esports crypto betting became one of the favourite pastimes especially now that people are choosing to stay indoors to avoid the spread of the COVID-19. Before the internet, wagering in a land-based bookmaker was one of the best betting experiences, but now, you can’t deny how accessible online sportsbooks are.
Betting at online sportsbooks is more accessible because you can easily deposit funds and withdraw your winnings using traditional currency or cryptocurrency. You can also place your bets wherever you are as long as you have a stable internet connection.
If the word ‘cryptocurrency’ is new to your ears, it is a decentralized digital currency used in exchange for goods and services online. What’s great about using crypto is that it cancels out the use of third party merchants. This simply means that funds are directly sent to the receiver and transaction fees are lessened. The most commonly used cryptocurrency for online gambling and betting is Bitcoin (BTC).
The popularity of esports betting
The popularity of the esports betting industry has been continuously increasing to the point that it is now considered a billion-dollar market. Due to this, Bitcasino and other online casino companies ventured into the world of esports betting. You no longer need to jump from one site to another because all of the online casino games and esports betting markets are available here at Bitcasino.
Here’s why you should use Bitcoin
Placing your esports bets online is convenient because there are several markets to bet on. You can also easily compare the odds and decide which is worth your bet. Just make sure to bet the amount you can afford to lose. If you are new to esports betting, it is best to start with small bets and work your way up.
Aside from the variety of betting markets, there are several payment options available. It can be through Bitcoin (BTC) using a crypto wallet or bank transfers using credit/debit cards.
Bitcoin is the largest and most valuable crypto with a total supply of 21 million coins. It was developed by a pseudonymous Satoshi Nakamoto in 2009 to serve as an alternative to traditional currency such as the US dollar and Japanese yen and to reduce transaction costs.
To give you a heads up, here are the other advantages of Bitcoin esports betting:
1. Anonymous and fast transactions
You should go with esports crypto betting if you prefer anonymous and fast transactions. To send or receive funds, just provide your crypto wallet address or simply scan the QR code. However, make sure to enter the correct amount because crypto transactions are irreversible.
Using crypto also guarantees anonymous gambling because all crypto transactions are recorded on a public distributed ledger called blockchain. Even though it is accessible by anyone, it is impossible to change or alter any information because of cryptography. A person who will attempt to hack the blockchain will need special equipment and in-depth knowledge of how it works.
2. Lower deposit and higher withdrawal limits
Esports betting at Bitcasino offer low deposit and high withdrawal limits if you use Bitcoin and other cryptocurrencies. This simply means you can deposit $5 or lower and withdraw huge winnings up to six digits. You no longer need to inform or wait for the confirmation of your bank to deposit or withdraw a huge amount of money.
3. Better esports betting bonuses to claim
There is a huge chance for you to receive additional bonuses when you use crypto to deposit funds to your gaming account. Consider taking advantage of risk-free bet offers to maximise your earnings even if you lose your first bet.
Before you claim an esports bonus, make sure you can meet the wagering requirements to easily claim your reward. Once claimed, remember that bonuses are available only for a limited time.
4. Global currency
Since Bitcoin and other coins are considered a global currency, you can place your bets wherever you are because crypto blurs the lines between borders. There is also no universal law that prohibits the use of digital cash thus, crypto is widely used by the betting community.
Unlike traditional currency, Bitcoin is not controlled and minted by any central authority or the government. This simply means that you have the freedom to do anything with your coins without being questioned.
Esports leagues you can bet on using crypto
Now that the use of crypto is widely accepted in the esports industry, you can place your bets on popular esports leagues like Dota 2 Champions League, ESL ANZ Championship, and the LCS Proving Grounds without hassle. You won’t have to worry about taking a huge chunk out of your wallet even if you place multiple bets at once because of cheaper and faster transactions.
Convenient esports betting with crypto
Knowing the advantages of Bitcoin for esports betting is not enough, you also need to know the ins and outs of blockchain technology. It will help you to manage your esports betting bankroll and bet responsibly.
When it comes to esports betting, remember to always set a betting limit to avoid overspending. Carefully decide on which market to bet on by researching about the teams and players and watching tournament matches. Most of the time, these tournaments are broadcasted on live streaming platforms such as Twitch and YouTube Gaming.
Remember not to take esports betting seriously and have a great time instead. Place your esports betting bets now at Bitcasino and cheer for your favourite team!
Words by: Whenna Maata