Cryptocurrency Betting

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Using Cryptocurrency To Bet On Major Sporting Events With the sports betting world finally back to normal, bettors can get back to betting on all of their favorite sports using bitcoin and any other form of cryptocurrency that is allowed. View the full list of all active cryptocurrencies. Rank Name Symbol Market Cap Price Circulating Supply Volume(24h)% 1h% 24h% 7d. Increasing interest in Canada, Russia and Latin America also highlighted in new report. According to the SoftSwiss Game Aggregator 2020 corporate report, “the absolute and relative value of cryptocurrency gambling traffic has increased threefold in 2020,compared to 2019,” said Andrey Starovoitov, COO at SoftSwiss. Cryptocurrency is based on blockchain technology. That's a chain of information registration and distribution that is not controlled by any single institution. Instead, it works as a record of digital transactions that are independent of central banks.

Cryptocurrency betting. For more insights, you can read the full review of BetOnline by my fellow CryptoManiak R.R. Betting successfully in sports is cryptocurrency betting basically about understanding the techniques used by bookmakers and learning to overcome and harness them to your advantage.

  • HB0133 that would have mobile sportsbooks legal in Wyoming has passed in its first House Committee on Monday.
  • What sets HB0133 apart from other bill proposals is the fact that it would run very much as offshore sportsbooks do regarding the rules and general structure of the operation.
  • Wyoming has until April 2 to pass this legislation through both the House and Senate and offer something in the United States that no other sports betting industry has offered yet.

CHEYENNE, Wyo. – On Monday, the Committee of the Whole within the Wyoming State House passed an online sports betting bill that would allow for cryptocurrency, esports, and gamblers 18 and over to engage in the activity.

The second reading of House Bill 0133 received approval to move forward within the legislative process of the House. This is a huge hurdle for the potential Wyoming sports betting market because when it comes right down to it, these state-sanctioned platforms would mirror offshore sportsbooks that have been utilized by sports bettors in Wyoming for years.

There are no such operations in the nation that have taken on so many aspects of an offshore mobile sports betting operation the way that this proposal does.

House Bill 0133

What would legalization of HB0133 entail for Wyoming? Many things that haven’t been seen in other markets in the United States for one. Multiple forms of payment would be accepted via the mobile and internet platforms that would be open to the sports bettors of WY. This includes cryptocurrencies like Bitcoin, money orders, personal checks, and prepaid vouchers, as well as the standard credit cards and debit cards which are used by many.

Legal sports betting in Wyoming would see a 10% cut from all GGR made from the industry through this proposal. Sports bettors in the Cowboy State would be able to gain membership to one of these sports wagering platforms as long as they are within state lines and 18 years of age.

All sporting events will be open for betting except wagers on events where athletes are under 18 or prop betting on specific athletes that are underage. This opens the door for esports betting which is still only found in select states at this time.

What’s Next?

This all-inclusive bill receiving its second pass the House Committee of the Whole in the 66th State of Wyoming Legislature may seem like a small step but it’s actually a very big one. This is the furthest any sports betting bill with cryptocurrency provisions has made it this far within a state legislature.

There are still plenty of committees where HB0133 will need to be discussed and approved on the floor. If it receives passage in the House completely, it will then move onto the Senate for the green light to move forward to Governor Mark Gordon’s desk to be signed into law.

Cryptocurrency Betting

The Legislature will adjourn for 2021 on April 2. No date has been scheduled for the next hearing of HB0133. Should it pass, Wyoming residents could see a launch of this very special kind of mobile sports wagering platform by the end of 2021.

News tags: Bitcoin Cryptocurrency HB0133 Mark Gordon State of Wyoming Legislature Wyoming

Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.

The union of online sports betting and emerging technology is an ever-evolving process. Blink and you just might miss the latest development in this fast-paced industry with its constantly changing landscape.

The development of live in-play betting in conjunction with the evolution of mobile sports betting apps revolutionized the way that people both placed bets on games and in the manner in which they made those wagers. Today, between 70-80 percent of all bets are done through a hand-held device and that number is only expected to increase in the coming years. Consider that it was only 25 years ago when the first online sports bets were being accepted. And now, thanks to live streaming, bettors can watch and wager on obscure sporting events from all corners of the globe. As well, they can do so from wherever they’re located thanks to their smartphone.

Online sports betting sites always seem to be on the cutting edge of change. Another recent development with sports wagering sites is that they were among the first industries to embrace cryptocurrency as a form of payment for services. Almost all of the leading online sports betting sites are good with this concept, but if you’re into sports betting and you want to use cryptocurrency to fund your account, check in with My Top Sportsbooks and they’ll provide you the down low on which sites are crypto-friendly locations.

Why Cryptocurrency?

For starters, it’s not a fiat currency, meaning a form of money produced by the government of a country. With each of these traditional forms of money, there can be restrictions that come into play that won’t be a factor if you’re dealing in Bitcoin, Litecoin, Ethereum, or any accepted form of cryptocurrency. The blockchain knows no boundaries.

For the most part, online sports betting sites operate within a global marketplace. The majority hold licences in several countries. While they’re all willing to do currency exchanges, eliminating the hassle of such a necessity is beneficial to both the players and the betting site.

With all forms of cryptocurrency, the transaction is a seamless process. And betting sites recognize the consistent growth pattern in terms of value being displayed within the blockchain. They see how all major forms of cryptocurrency are performing on the stock market and want to get their hands on some of that and watch it grow.

How To Gamble With Cryptocurrency

It’s Safe And Secure

Cryptocurrency Spread Betting

Even as betting on sports becomes more mainstream, there still appears to be an element of society that wants to continue to treat the activity as some form of prohibited taboo. Many credit card companies are moving away from enabling transactions between their cardholders and betting sites. Google forbids mobile betting apps from placement within the Google Play Store.

One of the beautiful aspects of cryptocurrency is its complete anonymity. Deposits and withdrawals are transacted through a player’s cryptocurrency wallet. No personal information is exchanged during the process. It’s unlike a credit card transaction or an online bank transfer where personal data is traveling through cyberspace. Even if a third party were to somehow gain access to the information from someone’s cryptocurrency transaction, there’s no way for them to gain access to the funds. All cryptocurrency transactions are 100 percent safe and secure.

Likewise, a cryptocurrency transfer will never be rejected by a betting site. And the money moves quicker in and out of a player’s account than it would when being transferred from any traditional form of currency exchange. Some of these transactions with betting sites can take days to be completed.

It’s convenient as well. The vast majority of cryptocurrency transactions can be done with a mobile device.

More Bang For Your Buck

Cryptocurrency users won’t get nickel and dimed by financial institutions as they move their funds around. In the blockchain, there are no commissions or fees imposed when it comes to financial transactions.

Cryptocurrency Betting Website

As well, because betting sites want to encourage the use of cryptocurrency, they are providing players with excessive bonuses in order to make it happen. For instance, Bovada is offering up to $5,000 in Bitcoin bonuses. There’s a 50 percent Bitcoin match bonus up to $500 to bet on sports and a 150 percent Bitcoin casino match bonus up to $1,500 that is redeemable three times.

Cryptocurrency Betting Coins

With fiat currency, Bovada’s bonus offer maxes out at $250.