The popularity of eSports has been snowballing to the point many gambling platforms now include electronic sports in their offer. The crossover between these two has brought betting enthusiasts many benefits.
Alongside this, there’s been a noticeable uptrend in the popularity of digital currencies. Consequently, people prefer using cryptos. Many online bookmakers have recognized global market demands and decided to offer bettors options for crypto deposits, withdrawals, and, of course, bets.
That is why more and more people are looking to switch from their FIAT accounts to digital coins. If you’re one of them, we’ll show you how to bet on eSports using cryptocurrency. More importantly, you’ll immediately find out why you should do that after following these lines.
What Is Cryptocurrency Gambling?
Although crypto cash has been with us for some time, the very mention of cryptos, especially Bitcoin, raises a lot of eyebrows. Some people among us don’t know much about the whole concept of blockchain and its derivatives, such as cryptos. This is only natural, considering the stigma that surrounds virtual cash. Nevertheless, with all the hype around it, many people started showing interest in it, slowly realizing its potential.
The gambling industry was one of the first to introduce cryptos in their banking offer. Still, not all casinos are equipped to provide the highest level of crypto-gambling. As you already know, there are numerous FIAT betting platforms. Such operators stand out with their betting offer diversity and exciting bonuses.
However, the most notable betting venues also feature crypto gambling. Simultaneously, a few crypto-betting operators also emerged, specializing in this type of gambling. Crypto sportsbook operators are the same as the traditional ones. Typically, these venues will have the same betting offer and unique bonus structure. The only difference between conventional and crypto betting operators is in the accepted currencies. The first accepts FIAT cash, while the latter offers digital coins banking.
How To Bet On eSports Using Cryptocurrency
Wagering on eSports using digital coins is identical to betting on traditional sportsbook platforms. Hence, you’ll take the same steps and repeat the same procedure with crypto betting operators as with the regular ones.
Choosing Your Site
Regardless of whether you’re looking to spend FIAT or digital money, your pursuit of the perfect betting environment should start with the proper research. Before you embark on your new eSports betting adventure, make sure the platform you choose is safe and reliable.
Select only the betting platforms that have appropriate licenses. In other words, choose regulated operators. That way, you can rest assured your money is in a safe place. As a result, you can enjoy all the charms of betting on eSports. Regulated bettors typically highlight their licensing information on their landing page. Thus, you should have no trouble finding regulation details. Once you verify the platform has the license, you’re safe to check their betting offer.
Diversity of Betting Options
Besides licensing information, if you intend to bet on eSports using cryptocurrency, you should check the website’s offer. Not all popular eSports are included in the platforms’ portfolios. While some sportsbooks focus solely on the most sought-after electronic sports like LoL, Counter-Strike, Dota, Overwatch, others offer a broad range of games.
Moreover, such resources can help you in understanding the game of odds, inner mechanisms of eSports betting, and keeping an ear on the ground for the main events.
Using Bonuses
Like their traditional counterparts, crypto sportsbooks also offer different benefits to their potential and existing bettors. Hence, you’ll find different bonuses on Bitcoin platforms such as:
- Sign-up bonuses
- Reloads
- Cashbacks
- Freebets and many others
Thus, after you check the website’s licenses and library, this is the next step you should take.
Why Betting On eSports Using Digital Coins Is a Good Thing
Betting on eSports using digital currencies has its pitfalls as any other sort of gambling. Here, we include the risk of picking a rogue website or other security frauds. However, choosing a licensed and regulated platform would remove these concerns immediately. Besides this, using digital coins during your eSports betting journey has a lot of benefits.
Bet On eSports Using Cryptocurrency Anonymously
Anonymity is one of the main perks digital currencies have over the standard ones. While sending money to your standard betting account, the bank serves as an intermediary. Consequently, such institutions will have records of your transactions and discretional right to deny money ending requests if they see necessary.
On the other hand, using bitcoins or other virtual currency removes the need for having financial institutions in between. You can send your cash from your wallet directly to the betting account. During this time, you’re the only one who knows about the transaction, and there’s no one else who can interfere. Consequently, if you suddenly feel the urge to bet on your favorite Fortnite event, using crypto would be the fastest way to do that quickly and subtly.
Fast Banking Services
Sending the money from your bank account to your betting ledger can last up to a couple of hours. The procedure includes the authorization period and the time needed for your money to reflect on your betting account. Depending on the sportsbook operator, it may take up to 7 business days to collect your winnings.
On the other hand, using cryptocurrencies enables you to move your money to and from your account instantly. In some cases, there’s a possibility that you would need to wait up to 3 hours to collect your winnings, which is much faster than using FIAT currencies.
Final Thoughts
Before you make the first bet on eSports using cryptocurrency, you should pick the right sportsbook platform. First of all, make sure the operator of your choice has the appropriate licenses. Secondly, choose the platform that fits your needs and goals. In other words, check the operator’s betting offer. Betting via cryptos doesn’t differ from regular sportsbooks. The process of finding and registering at a crypto betting platform is the same as with any other; however, betting using virtual cash brings some additional perks like anonymity and faster banking. Thus, if you intend to transition from FIAT-based betting to cryptos, you can do that with ease.