5 Reasons Why Online Betting Companies Are Adopting Bitcoin

Cryptocurrency is slowly expanding its influence across the world in different industries. Its appeal can be attributed to many elements of the blockchain. Online betting is one of the first industries to begin adopting bitcoin. Here are the reasons why:

1. Fast Money Transfers

One of the many appealing features of cryptocurrencies is that they are convenient to use for online payments. They can help any user transfer funds to another account without the help of a third-party.

Bitcoin can be delivered directly within minutes while bank transfers can take days. This makes deposits and withdrawals more reassuring for gamblers at online betting sites, such as Sportsbet.io, 1xBit, and Betway.

2. Reliability

One of the common problems that fiat faces is its reliance on banks and third-party companies. These are prone to human mistakes which can cause delays, errors, or corruption. Blockchain runs on a protocol that can operate on its own. Transactions are irreversible and can be viewed on a public ledger. 

The blockchain’s independence does not only make money transfers fast and cheap but it also makes them reliable. Users don’t have to worry about downtimes or technical difficulties from a bank or payment method. Any form of error that may occur is the responsibility of the betting site.

3. Companies Can Give Players Better Rewards

Betting companies are no longer obligated to pay expensive fees from supported payment methods. Instead, they can dedicate this budget to offering their players more fun bonuses! They can be more active at inviting new players using sign-up bonuses or special bonuses to loyal players.

4. Bitcoin is an Investment for Both Companies and Customers

This has never been a secret. There were many skeptics, but now it is proven and it grew beyond accessible for most people now. Bitcoin has emerged as a popular investment and a store of value. 

5. It’s Impossible to Hack Bitcoin

Perhaps the best feature of the Bitcoin blockchain is the fact that it cannot be easily hacked. Only owners of the crypto wallet can decide the fate of their assets. In the last ten years, nobody has successfully breached the Bitcoin network.

Bottom Line

The Bitcoin market is beginning to mature as it progresses slowly to global adoption. Sportsbet.io and other gambling sites are some of the many places where Bitcoin is accepted. 

At this point, there is no reason for betting sites to go back to fiat exclusively unless their target audience is in a country where bitcoin is banned. Otherwise, cryptocurrency is likely the new standard of online betting. Whichever bookmaker you choose, just have fun watching the games and making bets responsibly.