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Across Ireland, the United Kingdom and indeed the world, there is a different perspective on sports betting today than there was 30 or so years ago. Back then, it was all about serious punters trying to outwit the bookies and predict winners. Today, you still get people approaching sports betting in this way, especially in horse racing, but they are in the minority.
These days, and especially when it comes to betting on football or golf or rugby, placing a bet is part of the fun. An Irish football fan with put €10 on the Republic of Ireland to beat England, not because he thinks it’s the best bet for getting a likely return, but more as an act of support. Of course, if Ireland wins, the payout is an extra cause for celebration, but it is not something he really expects.
Emerging technology has played its role in improving the sports betting experience, from bringing us the convenience of mobile bookies to the heart-in-mouth excitement of live betting on games that are already underway.
Crypto betting on sport
The arrival of crypto is another tech innovation that has profoundly affected sports betting. Already a popular transaction method in online casinos, so many of these now offer sports books that crypto sports betting was an inevitable next step.
There are a number of advantages of using a cryptocurrency like Bitcoin, Ethereum or some other Altcoin to place your sporting wagers. The most noticeable is the lack of fees. Crypto sports betting sites don’t charge a mark up when you pay using crypto. If you’re in the habit of placing crazy optimistic bets on the Irish football team, it can make a real difference to your bankroll over time!
Crypto betting is also highly secure. While nothing can ever be called 100 percent safe, the type and level of encryption involved in crypto makes it the next best thing. There is also the fact that you don’t need to part with sensitive personal information such as bank account details.
Finally, note that crypto sports books tend to offer an incredibly wide variety. If you feel like having a little flutter on something a bit different, such as horse racing in Dubai or perhaps eSport betting on CS:GO or League of Legends, a crypto sports betting platform will give you all sorts of possibilities that you would struggle to find at a traditional bookie.
What about the downside?
The fact that crypto hasn’t rendered all fiat currencies obsolete as its pioneers predicted shows there are still some disadvantages. Chief among these is volatility. We have seen in the past 12 months how the price of Bitcoin can suddenly drop. If you buy some specifically for sports betting, you are essentially gambling twice!
Also, make sure you are clear on what if any legal restrictions might exist in your country. Winning a bet then being unable to cash out due to crypto restrictions is no fun at all, so make sure you are well versed in local regulations before you begin.