For those people who have followed the NFL the past few seasons, the announcement yesterday that the crypto sports betting platform BC.GAME had tapped Antonio Brown as its new brand ambassador meant one of two things.
One, that cryptocurrency sports betting is so far on the fringe the only athlete they could get to represent it is a guy who was last seen stripping off his jersey in the middle of an NFL regular season game in January 2022, skipping off the field, waving at fans, quitting on his team (Tampa Bay Buccaneers). Or, second, the fact they are on the fringe meant they wanted someone as controversial and polarizing as Brown, all to get people talking about them.
Brown embodies the brand’s “wild and untamed ethos” according to a statement issued by the company, so there’s that.
Cryptocurrency betting is getting a lot of attention, especially around prediction market platforms like Polymarket, which launched in 2020. Users bet on news events using crypto. The site jolted in popularity during the US national election in November, with betting volume running into the billions during that time. The platform correctly called Donald Trump’s election win.
Crypto sports betting platforms are heading north in popularity. Bitcoin, Ethereum, Litecoin, Tether, and Dogecoin dominate among crypto gamblers.
Go into it with your eyes open though.
Crypto Sports Betting: Pluses
So what are the pluses of crypto sports betting?
- Anonymity and privacy. Sports bettors are going to like that. Crypto transactions don’t require personal details, offering bettors greater privacy compared to traditional payment methods. Many crypto sports betting sites ask only for a user name and password – no full name, date of birth, address.
- Faster transaction. Bettors want speed. Deposits and withdrawals are typically quicker, often processed in minutes, due to blockchain’s decentralized nature.
- Lower fees. Crypto users don’t face the same level of fees as credit card or bank transfer users do. That saves you more money the more you bet.
- Security. Properly secure your crypto wallet. Use a two-factor authentication in case someone figures out your password. And don’t go for a simple password. Blockchain’s encryption reduces risks of fraud or hacking, provided users secure their wallets.
- Bonuses and promotions. Many crypto sports betting platforms offer exclusive bonuses for using digital currencies, like boosted odds or deposit matches.
Crypto sports betting: Minuses
And what are some of the minuses to be wary of?:
- Market volatility. This is the big one. Cryptocurrency prices can fluctuate wildly, affecting the value of winnings or deposits overnight.
- Regulatory uncertainty. Crypto betting operates in a legal gray area in many regions, risking platform shutdowns or fund seizures.
- Risk of scams. Unregulated crypto betting sites may be fraudulent, with users at risk of losing funds to shady operators.
- Irreversible transactions. Mistakes in crypto transactions (such as a wrong wallet address) are permanent, with no recourse for recovery.
- Learning curve. Fewer people relatively speaking are adept at cryptocurrency or familiar with it so they may struggle with wallets, exchanges, and blockchain tech, leading to errors like sending funds to wrong addresses.
Recommendations
Stick to reputable, licensed sportsbooks with transparent crypto policies, and use secure wallets where you can enable two-factor authentication to protect your funds. And monitor price movements so you’re on top of volatility in the crypto market. Read user reviews. Start with small deposits to verify payout speed and platform reliability. Look for welcome bonuses, cashback, or free bets, but check wagering requirements.
BC.GAME offers one of the largest selection of cryptocurrencies (140), and offers nearly 40 sports markets, from baseball, to cricket, to MMA, to darts, to beach soccer. CoinCasino is ranked high for the speed of its payouts and its user-friendly app. Sportsbet.io ranks well for its customer service and transparency.
We’ll run a full ranking of the best crypto sports betting platforms out there in the coming days.
I am a 50-something Torontonian who loves everything about my city. It’s been my home, my playground, for my entire life. I went to school here. I met my wife here. I own real estate here. I love writing about the transformation of my city on the world stage, which hasn’t been anything short of dramatic. That continues on, as I write this. I write on the real estate scene. I write on travel and fashion. I like following the world of luxury watches.
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