How to use bitcoin for gambling and sports betting

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Photo by  antanacoins 

In the vast world of online casinos and bookmakers, it can be hard choosing which site to play, or where to place your bet. What makes one site stand out from another? Sites can differentiate themselves from their competitors by offering different promotions, or odds, but they are all generally quite similar. To move away from their rivals, a lot of sites now have converted to using Bitcoin as their currency. This has a wealth of advantages for the site, and for the player.

Bitcoin is rapidly becoming a more commonly used form of internet currency, and the way it is going, it could be set to dominate in the future. For that reason, many sites are already switching from traditional currency to Bitcoin, to get one step ahead of the competition.

There are many benefits to using Bitcoin, with the main ones being that there are little to no fees on transactions, along with no tax. When customers pay for things online using credit cards, either the customer or the merchant has to incur the fees. When Bitcoin is used, money is saved in this respect. This allows the online casinos to pass on the savings to the customer, in the form of bonuses and special offers.

To start using Bitcoin you need to set up your Bitcoin wallet. Choose an amount of money you want to exchange to Bitcoin and store in your account. Because Bitcoin is a young economy, prices are often fluctuating, so it is not recommended that you put large amounts of savings in your Bitcoin wallet. Put a sensible amount in for your online gambling needs.

Once you have the bitcoins, you then need to find a site that accepts them. By searching for Bitcoin casinos, sites like Vegas Casino will show up. When you have joined a site like this you can then deposit funds from your Bitcoin wallet. Then it is just a case of getting used to this different form of currency. At Vegas Casino for example, you can get vegas lines on sports using bitcoins that would be very similar to a lines on a site that uses traditional currency.

If you prefer to play casino games, then all the classic games like roulette, blackjack, and slot machines are all available to play using bitcoins as well. The key is to try to familiarise yourself with the value of each Bitcoin, so you know exactly how much you are staking. If you manage to win a considerable amount of money, it would be wise to exchange it back into your currency quickly. This is due to the fluctuations in value that were mentioned before.

All in all, using Bitcoin for gambling is very similar to using pounds or dollars, or whatever currency you are used to. The difference is, though, you don’t have to worry about exchange rates, there are no extra fees, you don’t have to pay tax, and the payments are discreet. Try Bitcoin out today.

 

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