The smell of fall is in the air, and Super Bowl Sunday will be here before you know it.
You placed a few bets in college, back in the day, and you want to get back in the swing of things.
But the world of betting has taken on a whole new dynamic.
How do you even know where to start?
You’re in the right place.
In this guide, we will take a look at everything you’ll need to know about cryptocurrency and crypto sports betting.
Table of Contents
- What is Cryptocurrency?
- What is Crypto Sports Betting?
- What is a Crypto Sportsbook?
- 7 Advantages of Crypto Sportsbooks
- What Types of Sports Betting Will a Crypto Sportsbook Support?
- Traditional Sportsbooks With Cryptocurrency Capabilities vs. Crypto Betting Only Sportsbooks
- How to Determine Which Crypto Sportsbooks Are Reliable (and Safe)
- The Best Crypto Sportsbook: ZenSports
What is Cryptocurrency?
Chances are you’ve heard the word more than a few times.
But what is it?
Cryptocurrency is a digital, aka virtual, currency used to buy and sell goods and services anonymously, online.
A distinguishing feature of cryptocurrencies is that they are decentralized, meaning they are not issued by a central authority, such as a government.
This decentralization means that investors can deal directly with one another instead of operating from within a centralized exchange.
When using cryptocurrency, each transaction between users is written into a digital ledger.
The ledger is then copied and stored away on a network of multiple computers.
This way, if a transaction appears only on one copy of the ledger, it can be flagged, keeping that ledger from being hacked or altered illegally.
While the first decentralized cryptocurrency, Bitcoin, was released in 2009, there are now over 6000 cryptocurrencies you can choose from.
Sounds daunting, right?
It doesn’t have to be.
The experts at ZenSports can give you all the tips and tricks you need to buy your first cryptocurrency with confidence.
What is Crypto Sports Betting?
Crypto sports betting is like regular sports betting, but a thousand times better.
When placing your bets using a bookmaker, transactions can take time to be completed.
But with crypto betting, you are dealing in cryptocurrencies.
Meaning all transactions happen instantly.
When you’re using sports betting cryptocurrency, you can place your bets and receive payments in the blink of an eye.
What is a Crypto Sportsbook?
A sportsbook is a physical location where a bettor can place bets on a variety of competitive sports, including:
- Horse racing
- Car racing
- Greyhound racing
- Martial arts
You’ve heard of a “bookie,” right?
Well, at a traditional sportsbook, your “bookie” is the middleman for all your transactions.
And of course, the middleman has to get paid.
A crypto sportsbook is simply a sportsbook that supports online betting using cryptocurrency.
With a crypto Sportsbook, there is no need for a middleman.
7 Advantages of Crypto Sportsbooks
So what makes crypto sportsbooks so unique?
- Easy access. You’ve always got your phone with you, right?
- Super-speedy deposits and withdrawals. Your transactions are settled in as little as a few moments.
- Rock-bottom fees.
- A large selection of games.
- Quick dispute settlements, should the need ever arise.
And unlike your traditional currency that can only be used in a specific country or area, cryptocurrencies can be used all over the world.
#1: Ease of Accessibility
It’s Super Bowl Sunday, and you are on a business trip to Beijing.
Your mind has been far more focused on the work-at-hand than on fun, and as unthinkable as it seems – you somehow forgot to place your bet.
But don’t sweat it.
This is no biggie at all if you are using cryptocurrency.
As a global currency for sports betting, cryptocurrency doesn’t have the limitations of geography or currency type, so you can easily place your bet.
#2: Fast Turnaround on Deposits and Withdrawals
Another cool benefit of using crypto sportsbooks is that transactions are completed at the speed of lightning.
Checks or bank transfers can take days or even weeks to clear.
But the majority of crypto transactions are completed within a matter of minutes.
Crypto betting is the perfect choice any time you need to send or receive money in a flash.
And if the ability to bid anonymously is a make-it or break-it part of the deal for you, you are in the right place.
While not all crypto sportsbooks allow anonymous betting, ZenSports totally does.
In just a few minutes, ZenSports can have you set up to place anonymous bids, on any sport, with anyone in the world.
#4: Bigger Deposit Bonuses
Who doesn’t love a good bonus?
When you’re using a crypto sportsbook, that’s exactly what you may get.
Since they don’t have to deal with third-party institutions like banks, for example, many sportsbooks will offer some pretty sweet deposit bonuses.
#5: No Deposit Rejection
Have you ever had your deposit or withdrawal rejected by a third party bank or credit card?
Yeah, us too.
But here is some good news.
Since all crypto Sportsbook deals involve just two parties, you don’t need to give so much as a second thought to having a third-party intermediary messing up your transactions.
#6: Security of Cryptocurrency
- Identity theft?
- Third-party infringement?
In this day and age, there is no such thing as being “too concerned” about your online security.
What makes cryptocurrencies the safe way to place your bets?
- No third-party bookie
- Blockchain technology
With cryptocurrencies, you are able to safely and easily:
- Place bets
When you use cryptocurrencies, you can forget the worries and hassles and enjoy the game.
#7: Lower Transaction Fees
Here’s another way the decentralization aspect comes in handy in crypto betting.
Since there’s no third-party, there’s no middleman to pay.
So, that means you’ll never be stuck with:
- Handling fees,
- Transfer fees,
- Currency conversion fees,
- Escrow fees, or
- A myriad of other hidden costs.
What Types of Sports Betting Will a Crypto Sportsbook Support?
Crypto sports betting sounds like a definite win-win.
Let’s take a look at the types of bets you can place when using crypto sportsbooks.
This is your traditional type of betting, and it’s the form people are most familiar with.
Sports betting involves determining fixed-odds and placing a wager on a sporting event before it starts.
In traditional sports betting, both parties agree on the odds when the bet is being placed.
You could choose to bid on outcomes or spreads.
The winner is then paid out, post-game, at the agreed-upon odds.
How about an online global tournament for:
- League of Legends
- Call of Duty
- Dota 2
If these games are your jam, you’ll be an instant fan of eSports crypto betting.
eSports, also known as electronic sports or professional video gaming, has seen a massive burst in popularity.
Most official eSporting events are held in front of live audiences, which has done a lot to boost the interest and legitimize the credibility of eSports in the professional sporting realm.
And eSporting events even have sponsorships and prize money.
When betting on Esports, you wager on competitions just like you would with traditional sports, with the most common options being:
- Outright winner
Do you like to walk on the wild side?
Then you will love live sports betting.
Here, you will be placing bets on games that have already started, and you’ll be pumped to find out you can use your sports betting cryptocurrency, too.
While live sports betting follows a different set of rules, you can place bets any time during the event, until minutes from the very end.
Imagine the possibilities.
You can place your bet on:
- Which team will score next?
- Which player will score next?
- Who will score the first touchdown?
- Which team will be ahead at the end of the third inning?
- Which team will make the most 3-pointers?
And since you can bid throughout an entire game, you can get a feel for how things are going before you decide to place your wager.
Traditional Sportsbooks With Cryptocurrency Capabilities vs. Crypto Betting Only Sportsbooks
Everyone loves choices, and when it comes to your sportsbooks, you have all sorts of options.
Traditional sportsbooks with cryptocurrency capabilities will accept:
- Fiat currencies: These are government-issued monies such as the US dollar
This is great for those who prefer to place their bets strictly using fiat.
And obviously, crypto betting-only sportsbooks accept only cryptocurrencies.
At ZenSports, we provide multiple currency options to give you the best of both worlds.
With ZenSports can place your bets using:
- Fiat (USD)
- Bitcoin (BTC)
- Or our own unique cryptocurrency called SPORTS tokens.
SPORTS can use for:
- Placing bets
- Getting discounted betting fees
- Cash Back for reaching certain betting volumes
- Paying fees
And you can deposit and withdraw your SPORTS to and from your online wallet any time you like.
How to Determine Which Crypto Sportsbooks Are Reliable (and Safe)
Online safety has never been more important so finding a crypto sportsbook that is both reliable and safe is a top priority.
But how do you go about doing that?
Here are a few ideas:
Check Their Track Record
In your quest to find the best crypto sportsbook, a great place to state is to find out how other online bettors feel about them.
How can you do this?
- Read online reviews. A quick online search will give you perspectives from a multitude of individuals.
- Ask your buddies.
Take a Look at Their Bonuses
Most crypto sportsbooks are going to offer some sort of bonus or promotional incentive.
- Referral bonus
- Sign-up bonus
- Deposit bonus
While this sounds super cool, be sure you take a few minutes to look closely at exactly what they are offering.
Is what it takes to achieve the bonus attainable?
Or is the bonus so “pie in the sky” that your chances of doing what it takes are slim-to-none?
If it sounds too good to be true, it probably is.
The Best Crypto Sportsbook: ZenSports
If you’re searching for the best crypto sportsbook around,
Look no further.
Whether you’re new to crypto betting or are looking to shake things up a bit, ZenSports has got you covered.