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Crypto Sports Betting What is Cryptocurrency? What do sports bettors use crypto forms of money for? Well known cryptos for sports betting. What is Cryptocurrency? A cryptocurrency (or crypto currency) is a computerized resource intended to fill in as a vehicle of trade that utilizations solid cryptography to verify budgetary exchanges, control the making of extra units, and check the exchange. As a result of the tireless hours and nights in front of their respective machines, the developers of crypto and blockchain blessed betting enthusiasts with incredible incentives to participate in sports betting with Crypto, so the number of Crypto gambling sites is growing every year. Crypto betting 101; Sports is the best gamble; Decimal, fractional & US odds; Sports bet types; Points spread & asian handicap; Parlays & multiple bets; Serious bettors. Understand odds as probability; Arbitrage, trading & hedging; How betting exchanges work; APIs and betting software; How to be a winning sports bettor; High roller crypto betting. CryptoGames is a Bitcoin gambling site offering Dice, Blackjack, Roulette, Lottery, Poker, Plinko and Slot game to play also with Ethereum, Dogecoin & Litecoin.
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In a not so surprising turn of events, the gambling industry has emerged as a haven for crypto-related firms and services. Gambling platforms are aware that cryptocurrencies or bitcoin are the ultimate antidotes for regulatory restrictions. In turn, the proliferation of crypto gambling activities has had a meaningful impact on the crypto market's growth. While this is a given, the influx of crypto of gambling sites has also increased the risks of falling victim to scams or signing up for substandard gambling services. Therefore, it has become crucial to review the best bitcoin gambling sites to make prudent choices.This guide will explore the fundamentals of crypto gambling, highlight some distinguishing factors, and introduce you to our list of top cryptocurrency and bitcoin gambling websites.
What Is Crypto Gambling?
Crypto gambling platforms are everything you have come to expect from traditional gambling sites, albeit with an unconventional business model, whereby users use digital assets like bitcoin to gamble. In other words, users get to gamble with crypto as opposed to fiat currencies utilized in conventional gambling sites. Owing to the proliferation of these solutions, it is safe to say that crypto is somewhat emerging as the obvious choice for the gambling world.
Why Is This So?
The main reason why crypto and bitcoin has become attractive to the gambling community is its ability to circumvent geo-restrictions. As such, it is possible to bypass strict regulations and oversight that a majority of countries are imposing on gambling activities by incorporating cryptos that avail anonymity. Another factor propelling the crypto gambling conversation is the low transaction fee that has become synonymous with cryptocurrency. Therefore, users can ascertain that all of their activities on gambling sites would incur transaction fees that wouldn’t hurt their earnings.
Furthermore, gambling platforms that fully subscribe to the decentralization that blockchain implements can provide transparent ecosystems. All these factors have come together to make cryptocurrency and bitcoin the ideal choice for gambling websites. However, these sites have incorporated crypto technology in various ways. And this has had a say in the influx of gambling platforms with varying levels of elements of blockchain and crypto technology.
The Types of Crypto Gambling Website
We can classify crypto and bitcoin gambling sites into two major groups – the hybrid and the crypto - bitcoin-only gambling sites.
Hybrid Gambling Platforms
These are traditional casinos, poker rooms, or bookmakers, which have gradually infused an element of cryptocurrency into its business model. In other words, the site supports both fiat currencies and digital assets. As such, hybrid gambling operators have a well of experience to draw from as regards facilitating a viable gambling facility. While this is a given, it also means that users might have to undergo rigorous registration processes that are in line with the regulatory requirements governing the jurisdiction where the gambling operator is located. Also, the untransparent business model that is often synonymous with conventional gambling services might come to play in a hybrid ecosystem, considering a majority of these entities just implemented one or two tweaks to adopt crypto or only bitcoin.
Apart from these drawbacks, hybrid gambling websites are safe and straightforward, as the features and games are quite familiar and are not unnecessarily complex. A prominent example is crypto sports betting websites.
The Crypto-Only Gambling Ecosystem
Unlike hybrid gambling websites, the crypto-only platforms take an unconventional route to enabling gambling infrastructures by supporting only cryptocurrencies. Hence, you have the liberty to bypass KYC procedures and make your gambling activities private. Sometimes these platforms incorporate all of the perks of blockchain technology, which means that decentralization could feature prominently in the setup of the games. With this, crypto-only platforms have the right business model to build a trusting relationship with their customers.
Furthermore, crypto-only platforms could either choose to stick with traditional gambling games or formulate new ones based on blockchain or crypto’s unique, innovative capacity. However, there are drawbacks. Crypto-only gambling platforms are still lagging in terms of the quality of services and user experience. Also, since crypto-only gambling websites have little or no registration requirements hence, their users are prone to scams. Therefore, it is crucial to consider the perks and disadvantages of using both categories of gambling sites before choosing one.
Now that we have explained the core workings of crypto gambling platforms, as well as their classification, the next section will introduce you to some factors that could help you pick the right gambling site.What Are the Factors You Should Consider When Choosing A Crypto Gambling Site?
The Type of Crypto Gambling Site
We discussed extensively the two major types of crypto gambling platforms available. Also, we highlighted the perks and drawbacks of each, and we advised that you consider these facts to help narrow your research to a specific classification. For one, if you are not a fan of KYC requirements, then it is obvious that hybrid crypto gambling platforms, which enforce KYC registration, are not suitable for you. Also, if you believe that fiat currencies could come in handy, at one point or the other, while gambling, you should, therefore, stick to hybrid websites. Once you have an idea of what to expect from a standard crypto gambling site, it becomes easier to streamline your search to a specific classification.
The Regulatory Standpoint of The Crypto Gambling Website
For people leaning towards hybrid gambling platforms, it is crucial to determine the regulatory standpoint of the gambling operator. First, you ought to ask: Is bitcoin gambling legal in my country?
It is imperative to note that a majority of countries have enacted laws governing the activities of gambling facilitators. Moreover, the degree of strictness of such rules depends on the home country of the gambling operator. In most cases, these operators must seek approval from regulators and get licensed before they can run a legal gambling business.
As such, we advise that you identify the authority that licensed the crypto gambling platform under review before adopting its services. More importantly, seek out gambling platforms located in regions that are known to enact rules that protect users from scams and other security-related mishaps.
On the other hand, there is a very low probability of finding crypto-only gambling platforms with licenses from reputable commissions. Nonetheless, it is also true that a majority of these entities are open source projects, which, to an extent, establish the fairness of their games.
The Type of Games That the Platform Provides
After you must have verified the legality of the gambling platform, the next line of action is to explore the type of games it provides. You should check for the variety of options as regards gambling games available on the site. If it is a crypto casino you wish to adopt, ensure that it provides an array of games so that you do not have to open an account in other online casinos just to access more gaming options. Also, choosing a bitcoin online betting platform with gambling services for different sports is a prudent approach.
The Quality of The Services
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While it is good to verify that the platform under review has the capacity to offer various gambling services, do not forget to ascertain that the gambling operator provides quality services, regardless of the number of games it incorporates. Hence, it is better to stick to a platform that is proficient in one or two games instead of opting for one that has all the games but cannot guarantee top-notch services.
The Reputation of The Gambling Platform
A good reputation is paramount in the gambling world. Therefore, you ought to check the crypto gambling website’s track record. Ensure that it has never recorded security-related issues. And peradventure it had experienced security setbacks, ascertain that it handled such incidents competently. Also, you could research its stance in the global gambling community. Does the platform sponsor globally renowned competitions, or has a genuine way of giving back to the community?
User Experience, Mobile-Friendliness, And Responsive Interface
Gambling operators must not leave any stone unturned, as regards availing intuitive and responsive interface. In essence, users should find it effortless to navigate the cryptocurrency gambling website and have quick access to new updates. It will surprise you how much players lose as a result of a poor or slow interface. Another important detail that you should consider is the availability of a mobile app. Also, ensure that a majority of the platform’s core features are accessible on the mobile version of the application. All these details would determine the gambling experience that the platform can offer. In other words, we advise that you review the user experience, mobile-friendliness, and design of the platform you are about to adopt. This you can do by simply visiting and touring the cryptocurrency gambling sites.
The Customer Support Culture
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Gambling is an intense activity that evokes a lot of passion and emotions. Thus, it is common for aggrieved users to direct their frustration towards gambling operators. And when this happens, the customer service culture of the crypto gambling platform would determine how it handles such situations. You wouldn’t want to subscribe to an online gambling platform, which has poor feedback mechanisms or is notorious for leaving users in the dark. Here, the requirements for crypto gambling platforms is 24/7 customer support and a wide array of communication channels like live chats and email support.Crypto Betting Coin
The Traffic of The Website
Gaming platforms that offer betting exchanges and bitcoin poker rooms would require a level of traffic for it to work. Although this does not apply to most other gambling games, it, however, does not hurt to take some time to research the number of visitors to the website and how these statistics could affect your chances of winning. Besides, there are cases when having too many players in one game could reduce the frequency of your earnings.
The Bonuses and Promotions
It is common for gambling platforms to offer bonuses and implement promotions that will keep users engaged even when they do not have enough funds to make bets. However, in most cases, these bonuses come with clauses that would eventually nullify their benefits. For example, a cryptocurrency gambling website might put a condition that entails you to make above a specific amount of earnings before you can cash out your bonuses. Hence, if you are all about the rewards and bonuses that are up for grabs when you subscribe to a crypto gambling platform or reach a milestone, then you ought to take the time to ensure that the offerings are worthwhile.
The Conditions for Depositing and Withdrawing
This aspect of the crypto and BTC gambling model is a bit tricky, being that some adopt a wide array of payment options, while others stick to major cryptocurrencies. The former falls under the hybrid category, as they allow users to either deposit and withdraw their earnings using fiat currencies and conventional payment methods. On the other hand, the latter solely caters to crypto holders. Thus, it has no reason to support traditional payment methods.
Also, it is vital to determine how long it takes to withdraw funds. Although these bitcoin gambling sites have pending periods before withdrawals are authorized nonetheless, there is no reason why they should hold on to earnings longer than is required.
Having outlined some of the factors that could help you pick the right crypto gambling platform, the next section will introduce you to our list of top crypto gambling platforms and how we went about compiling the list.
How Did Cryptolinks Compile Its List of The Best Crypto and Bitcoin Gambling Sites?
While noting that crypto gambling has become one of the major sectors of the crypto industry, we at Cryptolinks have, therefore, dedicated this review section to the top platforms allowing people to gamble with bitcoin or other cryptocurrencies. To compile our list, we had to consider all of the recommendations listed earlier in this guide. As such, we took the time to verify the legality of the gambling operator and whether it has a license from a reputable commission.
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Also, we explored the number of games each platform offered and how proficient it is in providing quality services and features. Hence, the website mentioned on our list has proven beyond doubt that they have the right support system to ensure that all of their services and games are topnotch. The reputation of the cryptocurrency gambling website also came to play as we reviewed the security measures put in place to deter attackers. Furthermore, we assessed the feedback mechanism of each crypto gambling platform to ensure that users have access to premium customer support systems.
Next, we examined the user experience, the mobile-friendliness, as well as responsiveness of each of the crypto gambling website’s interface. Then, we compared the deposit and withdrawal processes of each site. Here, we reviewed the percentage that the platform charge for withdrawals and how long it takes for it to authorize payments.