9 Advantages of Using Bitcoin for Sports Betting

Although Bitcoin, the world's number one cryptocurrency that continues to outperform its competitors in terms of capitalization and exchange rate, is relatively new, it is already in high demand by many, including betting enthusiasts. Bitcoin is a digital asset that can be used as an investment vehicle as well as a means of payment. And it is its second feature that allows it to be used by bettors to make deposits on online betting platforms. While many sportsbooks still accept only traditional payment options, VipArabClub already supports a new kind of money. This opens up many possibilities for Arab bettors, who for one reason or another cannot use traditional banking products. Additionally, Bitcoin allows for a higher level of anonymity for bettors, which is important for those who reside in the so-called grey areas with uncertain legislation regarding the regulation of online gambling and internet sports betting. And if you haven't yet used Bitcoin or other cryptocurrencies, we are here to tell you about 9 advantages of Bitcoin sports betting. 

Faster Deposits and Withdrawals

If you make sports betting online, using Bitcoins will allow you to speed up financial transactions without having to compromise on security. The only thing you need to do is first buy Bitcoins to fill up your crypto wallet. However, today's crypto space is literally overflowing with both peer-to-peer and centralized platforms and exchanges that allow you to exchange fiat money into digital currencies quickly, securely and with minimal fees. Once you get the digital coins into your wallet, you can quickly connect it to a crypto-friendly betting platform to enjoy fast and secure financial transactions. Unlike inert and slow traditional banking instruments, Bitcoin provides fast transactions that can be completed in a matter of minutes. 

Improved Security

While Bitcoin payments are lightning fast, they are also characterized by a high degree of security and safety because all data is encrypted in a secure manner. If you are worried about your security when betting on sports and eSports events, then Bitcoin can be a great option for you. Being a new kind of money, Bitcoin circulates on a decentralized network with immutable records. This means that no one can compromise or cancel your deposit or withdrawal transactions. While the risks of losing bitcoins still exist - as nothing is perfect in this world - most thefts of crypto savings have occurred precisely because of the carelessness of the crypto holders themselves. 

Lower Transaction Fees

Even if you use online gambling-friendly payment instruments like Neteller or Skrill, transaction fees can still account for a significant portion of your winnings. However, Bitcoin is here to correct this injustice. Let's say your bet on a sporting match resulted in a win of $1,000. Using a traditional payment method for withdrawals, you will most likely pay a fee of 5% or more, which is $50 (a pretty hefty amount). Using Bitcoin as a payment method, you'll pay a much lower fee of around 1%, and that's really good news for many betting enthusiasts. 

Friendly Transaction Limits

When betting on sports and eSports events on some iGaming platforms, you will most likely face restrictions on the maximum amount you can withdraw. These restrictions are especially stringent when you use traditional banking methods such as Visa or MasterCard. Suppose your online bookmaker has set a withdrawal limit of no more than $4,000 per month. If your betting has brought you winnings amounting to $12,000, then you will have to wait for 3 months to withdraw all your winnings, which is a frustrating experience. However, things change radically if you choose Bitcoin as a depositing and withdrawal method. On the one hand, with Bitcoin, you will be able to withdraw fractions of a digital coin, i.e., much lower amounts than are available to those who use traditional payment instruments. On the other hand, you will also be able to withdraw really big winnings in a single transaction. Like any betting enthusiast, you want to see your winnings in your personal account as soon as possible, and using Bitcoin will help speed up withdrawals considerably. 

Bankroll Can Grow on Its Own

Bitcoin is a highly volatile digital asset. This means that its exchange rate can fluctuate significantly in short periods of time. On the one hand, Bitcoin's volatility can cause the real value of your crypto savings to decline. However, there is also a high chance that Bitcoin will rise in price. Now that Bitcoin has fallen significantly in value due to the unstable global economy, BTC is selling at a very low price compared to the highs it reached in 2021. And there is a good chance that this digital asset will go up again. So, by buying some coins and investing them in sports betting, you might find that your bankroll has increased significantly without any action on your part. 

Eliminates Barriers

There are about 1 billion people in the world who don't have access to traditional banking products like plastic cards, and there are many reasons why. If you can't use a plastic card or e-wallet to make a deposit online, you have an alternative in the form of Bitcoin. Conceived as a more affordable form of money, Bitcoin provides access to finance for those who cannot reach a bank product. Moreover, it allows online sports betting for those who live in areas where online gambling/betting is prohibited by law. To use Bitcoin, you just need a device connected to the World Wide Web, as well as a special software called a crypto wallet. Bitcoin thus gives freedom of action to everyone, including betting enthusiasts. 

No Intermediaries

We mentioned above that Bitcoin transactions are cheaper because they have lower fees and this is possible due to the absence of intermediaries and third parties. Using Bitcoin, you will not pay for hidden services provided to you by unidentified third parties. This eliminates unnecessary links in the chain of transferring money from your wallet to the recipient, thus providing even higher security of your personal information as well as lower fees. Using Bitcoin as a deposit method on a betting platform, you can be assured that your funds are deposited directly into the bookmaker's account, bypassing unnecessary nodes in the path. 

Best Anonymity

There are Arabic bettors who wish to preserve the anonymity of their visits to online betting platforms. And using Bitcoin as a payment option can provide better anonymity. However, such an advantage as anonymity cannot be fully provided by centralized betting platforms adhering to KYC practices, as they collect user data. On the other hand, decentralized iGaming platforms can be insecure on their own as they operate solely on trust. Therefore, Arab bettors are advised to opt for centralized betting platforms such as VipArabClub. Licensed by Curacao eGaming, VipArabClub is a solid online sportsbook that operates in strict compliance with the current laws. Although VipArabClub requires its users to pass a verification procedure, it does not give any personal or financial information to any third party. Moreover, VipArabClub uses the latest version of the SSL data encryption protocol to secure all transactions. 

Exclusive Promotions

In order to attract the attention of bettors, many sportsbook operators launch different promotions, ranging from welcome packages to loyalty programs with rewards and perks. When you join VipArabClub, you will be able to benefit from a generous welcome package that includes deposit bonuses, free bets and much more. In addition, VipArabClub has exclusive bonuses for those who choose Bitcoin as a payment method. Since Bitcoin eliminates many of the barriers a betting enthusiast can face on his way to sportsbooks, it is a very lucrative payment method for operators. On the other hand, using Bitcoin opens up many advantages for users of iGaming platforms - a win-win. Therefore, many sportsbooks including VipArabClub encourage players to use Bitcoin and other cryptocurrencies as payment methods. And to increase interest in crypto, they are introducing exclusive promotions with even better terms for those who prefer Bitcoin. 

Closing Thoughts

Although Bitcoin has been with us for over 13 years, it is still considered a new payment instrument. And because Bitcoin is based on a very different concept compared to traditional payment services, it is still difficult for many, including betting enthusiasts, to understand. This is one of the reasons why Bitcoin has not yet gained global acceptance. On the other hand, many software solutions have emerged over the years that make Bitcoin easier to manage and use. And that makes it a more accessible payment option for sports/eSports betting enthusiasts. Today, there are several Bitcoin-friendly platforms available for Arab bettors, and among them, one of the most notable is VipArabClub, a feature-packed gambling/betting website licensed by the Curacao regulator and offering great odds for most sports events.