At this point in time, cryptocurrencies are considered a well established transaction system that has effectively taken the world by storm. They are slowly but surely on their way to becoming one of the main payment methods as places like Walmart China, El Salvador are adopting the system. Even Amazon’s Jeff Bezos has stated he is considering adopting Bitcoin to be implemented as a payment method on Amazon
In many African countries like Kenya, Bitcoin and football betting have become intertwined and adoption in Africa in general is booming. Elon Musk, one of the world’s richest citizens, has also explained that cryptocurrencies represent a significant part of his investment portfolio. With this in mind, let’s go over some of the reasons why Kenyan football fans love to bet on games with their crypto.
One of the biggest competitive advantages that crypto offers compared to fiat currencies, is privacy. With crypto, there are no names or similar data attached, only wallet addresses. This way, sports enthusiasts can enjoy more control over their payments when they decide to bet on sports games instead of disclosing a variety of personal information.
2. Betting and withdrawal limits
While it generally varies from site to site, many places will allow you to place higher wagers when using crypto. This is a perfect solution for bettors that don’t want to be restricted by certain arbitrary betting amount restrictions. The only thing to make sure to keep in mind is that the price of this kind of currency is very volatile. Therefore, you should always make sure to plan your bets out wisely and keep track of the coin’s worth.
3. Transaction speeds
Betting on games with crypto also allows users to not only place higher bets but also withdraw one’s winnings quicker, as local banking regulations and restrictions make withdrawing funds not as instantaneous as with Bitcoin. With crypto coins, you can easily place a bet on a game of your choosing as soon as you have the money in your online wallet, with most sportsbooks having seamless integrated transactions in place.
Decent transaction speeds and discreetness are just some of Bitcoin’s natural advantages.
4. Bigger Bonuses
Promotions and bonus offers are a substantial part of every sportsbook, enticing players to bet on their favorite games. Plenty of these offers can often be specifically centered around a certain particular cryptocurrency that’s popular at the time, offering lucrative bonuses should a bettor choose to book their stake with the said currency. If one knows what kinds of coins to bet with and chooses their site wisely, they might make a bigger profit simply by doing a simple research and making an informed decision beforehand, all thanks to cryptocurrency.
5. Minimized Risk
Betting and even investing in cryptocurrencies always carries certain risks, like for example the previously mentioned volatility that the market is experiencing all the time, compared to the relatively stable and slowly shifting market of traditional fiat currencies. However most betting sites allow you to convert your coins into dollars or euros when you make your wager, which protects the bettor from some of the risks associated with market volatility. This way you wont have to worry about the value of your winnings decreasing massively after you’ve won a big bet.
Cryptocurrency is on a steady roadmap to changing the way we conduct business and transact funds. One of the industries this has had a major impact on has been the betting industry. This is a major win for most holders of cryptocurrencies. While traditional money has always been the powering force behind the global economy and will likely remain the traditional way that people pay for things in the foreseeable future, seeing cryptocurrency become an alternative to be embraced is not that unlikely.