Cryptocurrencies’ Opportunity In Betting

Back in July, you may have seen an article posted here about cryptocurrencies’ place in the sports world. As detailed in that piece, teams and leagues in everything from European football to the NBA to kickboxing have explored various forms of investment in cryptocurrencies, leading many to believe that sports will continue to provide exciting opportunities on the digital currency front. In this piece, we want to expand on this idea by highlighting, in addition, to the exciting opportunities that the sports betting business can provide for cryptos.
The Basic Perks Of Cryptos

We tend to focus so much on cryptocurrency pricing these days that we forget about its basic appeal to users. Broadly speaking, it’s still the case that most consumers know relatively little about cryptos, or know a little bit but find them confusing or unnecessary. However, those who do understand cryptos and recognize their benefits tend to count instant settlement and fraud protection among the perks. These perks can be applied to a lot of different usage opportunities, naturally, but efficiency, security, and transparency are of particular importance to people betting online. While today’s sportsbook and casino sites tend to be fairly secure, there’s a history of less-than-reputable operators in this industry, which leads customers to be on their guard. So, in theory, instant settlement and fraud protection can be reassuring and appealing to sports bettors.
The Expanding Betting Business

If we’ve established why cryptos can be of interest to bettors, it’s also worthwhile to discuss where those bettors will do business. And the answer to that prompt is that there are betting opportunities in more places seemingly with each passing month. Sportsbooks have operated in Europe, in Oceania, in parts of Asia, and on islands around the world for many years now. More recently, U.S. laws have changed and sites are emerging in certain states as well, meaning Americans, too, will soon have widespread access to sportsbooks. Also of note is that these sportsbooks operate about as much through mobile channels as on the internet now, which serves to further expand access. All things considered, this is a growing and increasingly active business.
The Clear Opportunity

What the two points above illustrate is that betting – like the sports industry as a whole – represents a major opportunity for cryptocurrency. Cryptos are a natural fit for people who are looking to place bets as securely and efficiently as possible. And with the expanding industry, there are only going to be more and more bettors who fit that description. This suggests that if and when prominent sportsbooks choose to adopt cryptos, usage could take off.