Blog – gambling

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%.

Generally you can keep your bitcoins safe by keeping your wits about you and not falling for something that seems too good to be true, the same as with government currency.

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.

Geo-blocking is when bitcoin gambling sites refuse service to users based on what nation their IP address says they are in. This is due to gambling laws in some nations and effects users in the USA, UK & Australia.

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

Gambling websites are great places to work. They are professional but informal and full of colorful characters. The pay and conditions are good plus you get to talk about gambling while you work!

Cloudbet (review) and Nitrogen Sports (review) are 2 of the best bitcoin sportsbooks but they are quite different. We compare which has the edge in the most important areas and decide where to bet.

We have made a point of seeing every sports betting movie that we can get our eyes on. We have gathered and reviewed the most notable and relevant examples here with trailers.

• 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.

Bitcoin and match fixing are a match made in heaven. It would be anonymous and no one but the individual athlete would be involved making it nearly impossible to detect.

Some say bitcoin’s volatility makes it unsuitable for gambling because you don’t know how much you will win in government currency is you place a bet in bitcoin. These people are not bitcoiners or gamblers.

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.

In Australia you do not have to pay taxes on your gambling winnings unless your gambling is part of a business. This is based on precedent, gambling is not specifically mentioned in the tax laws.

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.

Bettor: I had a terrible day. I lost 15 out of 15 in college football, 8 out of 8 in baseball and 6 out of 6 in soccer. What am I going to do?
Friend: Well there’s a hockey game on tonight.
Bettor: I don’t know anything about hockey.

There is a lot of buzz around betting on the Academy Awards this year because Leonardo Dicaprio is hotly tipped to finally win an Oscar. It would be his first win after being nominated 4 times in the past over his 25 year.

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.

Top bitcoin sportsbook Nitrogen Sports (review) host a series of NFL survivor pools every year. Find out how survivor pools work and strategies for how you can win!

Bitcoin Rush stole the bitcoins from my account because they did not like my review of them. As such Bitcoin Rush should no longer be trusted by the bitcoin community.

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!

Coinbase is blocking users from cashing bitcoins in or out of their account due to having used their account with bitcoin gambling sites including Betcoin (review) and SwC Poker (review).

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.

BitStarz (review) has just introduced credit card and paypal deposits with bitcoin balances and withdrawals. Which they say is a new age of bitcoins in the online casino industry.

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!

See what happens when a westerner with more dollars than sense tries to get a sportsbook licence, hire local staff & start a new sportsbook in corrupt Manila.

I am Bitedge’s Founder. I have been a professional sports bettor returning around 4%, on and off, for the last 10 years. Since 2013 I have been doing everything with bitcoin.