Advantages of Using Bitcoin for Sports Betting
In today's fast paced and ever-changing world, the sudden rise of Bitcoin (BTC) over the course of the last 12 months has caught everyone off guard (to me, everyone means around 99 percent of the general public). But what people fail to realize is that Bitcoin (BTC) has been relevant since it's inception in 2010 when it was on the market for just $0.003 per share. Bitcoin's rags-to-riches story didn't exactly happen overnight. It had six years prior to the boom of 2017, where it's market value would rise and fall just like any other stock that was offered up for purchasing.
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What makes Bitcoin (BTC) so unique is the fact that very few people (to me, very few means less than one percent) actually understand the true value and meaning of what Bitcoin stands for. Bitcoin (BTC) was invented by an anonymous computer wizard who was fed up with the current system in place in which all currency was controlled by major corporations with their own personal agendas. These corporations could print money whenever they chose to and devalue the current batch of currency in market.
If you've ever looked at your bank account toward the end of the month and see a service fee withdrawn from your account, you'll understand why Bitcoin is so important to today's society. Why should you let a bank charge you a fee for keeping your funds safe? Bitcoin doesn't stand for that. Bitcoin is a transaction fee free digital currency that has no physical backing. The amount of Bitcoins you decide to purchase are yours and nobody can take it. Bitcoin is also run on some of the fastest computers in the world, which makes using Bitcoin (trading, buying or selling it) fast and easier than going to an ATM machine.
I'm a very big believer that you need to be willing to adapt to and change the way you do or think about certain things in order to succeed in this world. I know some older generation people who carry cash around with them and use it to buy things, while my millennial friends barely know what a $20 bill looks like since it's all about tapping their debit/credit card or using Apple Pay. Bitcoin is one of those commodities that feels like it's here to stay, and I suggest getting caught up with what it is and how it works to avoid being left behind.
Using Bitcoin in the Sports Betting World
Since the world is ever-changing, it's up to businesses and corporations to adapt and offer their clients what they want. For the sake of this article, that "want" is to be able to make deposits/withdrawals into and out of their betting accounts via Bitcoin. Every single book that Doc's Sports works with offers this new-age deposit method, and each book has their own respective bonuses.
5Dimes - 5Dimes has always been known as the leader of the online sports betting world, so it's not surprising that they are the leaders in Bitcoin usage. 5Dimes offers a $10,000 Bitcoin deposit limit, which is one of the highest limits in the industry. Bitcoin transactions are also free at 5Dimes but must be done between the hours of 9a.m. and 11p.m.
5Dimes is also best known for it's "reduced juice" promotion that gives bettors a chance to bet into a better line than most sportsbooks. Because of this, they do not offer any match bonuses, but as you will see here , the reduced juice betting option is a must-have if you are a serious sports bettor.
Bovada - At Bovada, depositing funds into your account with Bitcoin (BTC) or Bitcoin Cash (BCH) is the cheapest way to make a deposit. There are no hidden transaction fees that are typically associated with the credit card or bank transfer method. Another benefit of doing your transactions in Bitcoin is how fast the funds get transferred into and out of your account. Making a withdraw via Credit Card takes, on average, 3-5 business days to receive your funds. Heck, Bovada even offers a "withdrawal by check" method that takes around two weeks to receive. If you commit to using Bitcoin, you will receive your hard-earned money within minutes of the transaction being approved. Bovada offers a $3,000 maximum withdrawal limit and $5,000 deposit limit. Once again, I must reiterate, there are no transaction fees associated with making a deposit or withdrawal.
In terms of bonuses surrounding Bitcoin, Bovada is one of the best. First-time Bitcoin deposits are eligible for a "Bitcoin Welcome Bonus" which gives you a 100 percent match bonus on deposits up to $300. That's for the sportsbook. If you are a casino player, you can get a 150 percent match bonus on deposits up to $900.
Bookmaker - And lastly, Bookmaker has seen an overwhelming number of accounts ditch the norm and switch to Bitcoin. They estimate more than 90 percent of their clients are now depositing and withdrawing via Bitcoin, and with the way things are going that number is sure to grow.
Bookmaker offers a maximum deposit of $50,000 via Bitcoin which trumps all books in terms of limit. They also offer up a maximum withdrawal of $25,000 per day, or five Bitcoin payouts per week (seven days) up to $100,000. Once again, and I can't stress this enough, Bitcoin transactions are free of charge at Bookmaker, along with the other aforementioned books.
In terms of bonuses, Bookmaker offers Bitcoin depositors a 25 percent cash bonus (subject to 8x rollover) on all Bitcoin deposits up to $1,000 (min. $100).
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