Sports betting coupled with bitcoins can be quite overwhelming especially when faced with a lot of information that you hear for the first time. To help you familiarize yourself with the basics of Bitcoin sports betting, here are some of the most frequently asked questions.
What makes Bitcoin sports betting popular?
For some, the bet on sports simply because it is fun. It is as easy as that. But for others, it is popular because winning bitcoins is possible. With a wide selection of sports and different wagering options to choose from, bettors are in for something great.
Why should I use Bitcoin?
Among frequently asked questions, there is always one pertaining to Bitcoin. For online bettors, using Bitcoin is common. Why? Because it is convenient to use. Transactions are faster, with minimum to zero fees, and all their accounts are anonymous. It is even regarded as the ideal currency for gambling.
Where to place my wagers?
It is recommended that you use reputable Bitcoin betting sites. It is the easiest way of placing wagers. For your safety, make sure to use a site that holds the trust of professionals and recognized by a trustworthy iGaming license.
How much do I have to spend?
Most bookmakers offer very low minimum stakes, so there is no need for you to spend a lot of money. You can spend any amount you want, as long as you have it. The rule here is only bet with money you can afford to lose. Apply the right betting tips and strategies and you can easily turn a few Satoshis to larger sums of BTC.
How many sports can I bet on?
If your purpose for betting is to simply have fun, you can bet on as many Bitcoin sports you like. But if your purpose for betting is to make a profit, it is suggested for you to focus on one.
Is it possible to get addicted to sports betting?
Yes, it is possible. Any type of gambling can have that effect on you. But you can prevent that from happening of you know how to gamble responsibly. If you have any questions regarding responsible gaming, you can contact us and our representatives are happy to help out.
Is Bitcoin sports betting legal?
Out of all frequently asked questions, This question is the one with no definitive answer. The legality of Bitcoin sports betting depends on which region you are. Thankfully, most regions and gaming sites allow players from most parts of the world. It is 100% legal in some regions while other platforms restrict users coming from countries where Bitcoin’s legality is still a work in progress. This is because the laws of countries regarding Bitcoin betting vary. If you want to bet, simply check first the laws in your region.