I recently had a meeting with a large licensed online gambling website about the advantages bitcoin brings. I told them they will need to move to a 1% house edge to stay competitive and soon it will be 0%.
The differences between end-to-end bitcoin sportsbooks & government currency sportsbooks that accept bitcoin include
- Privacy & security.
- Deposit and withdrawal limits and speed.
- Provably fair gambling.
- currency conversion.
Historical context | Why is political betting so popular | Predicting results better than opinion polls | Moral hazard & challenge to democracy | What’s next and the role of bitcoin
- Roughly 50% of bitcoin transactions are gambling related.
- Bitcoin is the fastest growing sector of the gambling industry.
- The attributes and characteristics of bitcoin such as speed, anonymity and borderlessness make it perfect for gambling.
- Laws and regulations make gambling with government currency very high friction.
An app gathers data from APIs to create bet selections for events. Users choose their selection and a new bitcoin address is created for them to send their stake to. The app then gathers the data of who won the event and pays out 100% of bets to the winners.
If you are a long term winning Betfair customer there is every reason to worry about the premium charge. It is a greedy money grab and it can ruin your betting career.
The bitcoin sports betting industry is in a state of rapid improvement; from the poor user experience of a couple of years ago to the best betting experience in the world that bitcoin sportsbooks will achieve within a couple of years.
The 2016 US presidential election will be the biggest non-sports betting event ever. The candidates have the highest negatives of any pair in history so the only way to make something good out of this circus is to win yourself some bitcoin!
Bitkup is a fun service that charges users a one time entry fee that is put in a prize pool. Users make predictions on all FIFA World Cup games and get points if they guess correctly. Bitkup will distribute the prize pool of funds to the winners.
Win ฿20 by completing 8 FIFA World Cup betting challenges as part of Nitrogen Sports’ fun competition. I will be playing myself, Let’s win some bitcoin!