How Betting Exchanges Work

You might be familiar with sportsbooks, those places you can go to place bets on sports. Well, crypto sportsbooks are a newer type of betting platform that were created as a response to sportsbooks manipulating the line to make money off inexperienced bettors. Instead of having the line tampered with, crypto sportsbooks build the line based on available bets and then announce it to the world. The excitement of following a real-time winner for your favorite team makes crypto sportsbooks stand out, but it’s not the only thing.

The Growth Of Crypto Sportsbooks

The first crypto sportsbook was launched in January of 2018 and it’s already grown to be the 7th largest in the world. The site takes bets in four different ways: Traditional, Credit, Debit, and QR Code. Traditional betting is simply placing a bet with an authorized sportsbook. Debit betting is entering your bank information and authorizing the sportsbook to take your bet, Credit betting is using your credit card to make a purchase and then authorizing the sportsbook to take your bet, and QR Code betting is using a smartphone camera to make a quick and easy deposit to the sportsbook. In total, there are now 27 crypto sportsbooks available around the world, with more appearing every day.

Crypto sportsbooks are a fantastic option for those seeking to avoid shady operators and place bets where they can verify the odds are correct. When you compare that to the vast majority of online gambling sites that require you to play in a casino or have an account with a large sportsbook, the appeal is obvious.

Why Are People Flocking To Crypto Sportsbooks?

Well, for one thing, there’s a wide variety of sports available to bet on. You wouldn’t necessarily need to rely on a single bookmaker for your sports betting needs. For another, many people enjoy the fact that they don’t have to worry about shady operators or betting on horse races they’re not knowledgeable about. And, last but not least, betting in cryptocurrency is much more convenient, as you don’t have to worry about exchanging your money or planning on how to pay back your debt if you lose.

The Most Popular Sports To Bet On

The top five sports covered at include soccer, sportsbooks, tennis, golf, and racing. Depending on where you are in the world, some of these games might not be available for you to bet on, but that’s what makes crypto sportsbooks so attractive — you can bet on literally any game you want, regardless of whether it’s popular or not. It’s also interesting to note that the most popular games to bet on at are exactly the same as the most popular sports in the world — soccer, tennis, golf, and racing.

On the opposite end of the spectrum, you have games that are either very obscure or completely new to the majority of people. For example, did you know there’s a game called Volleyball Paddington? Or how about Dragon Ball Z Stampede? Or how about the Pokémon video game trilogy?

If you go to any of the major cryptocurrency forums (like Reddit, for example), you can often find passionate discussion about the odds and lines of various games because, quite frankly, a lot of people are still learning about them. That’s not the case with the more established sports, like soccer or tennis. These are usually the games that you’ll find people arguing about at the casino or sportsbook. 

How Do Traditional And Crypto Sportsbooks Differentiate Themselves?

Traditional sportsbooks and crypto sportsbooks are, in many ways, similar. Both of them allow you to place bets on various sporting events. But while traditional sportsbooks are just that — traditional — crypto sportsbooks go the extra mile to ensure all their transactions are secure. 

For example, if you’re using an ordinary sportsbook, there’s always the chance that the operator could hack in and fix the results of the game. And since most of these places rely on sportsbooks in other countries for much of their revenue, there’s also the chance that the results of your game might be manipulated to ensure the flow of funds. Traditional sportsbooks usually don’t offer the same reassurances as cryptocurrency ones do.

In a nutshell, while traditional sportsbooks are good for what they are, crypto sportsbooks take security much more seriously and are keen to ensure all their customers feel safe and that their money is being handled responsibly.

What Is The Average Betting Volume At Crypto Sportsbooks?

The average bet at a cryptocurrency sportsbook is roughly $1.65. That puts it in the same price range as other online gambling sites, which are usually around $1.67. It also makes it a bit less expensive than a traditional sportsbook, which tends to range between $3 and $5. But, to be fair, it’s not like sportsbooks are known for having the best odds. In general, it’s not uncommon to see odds as high as 6.0 or higher at traditional brick-and-mortar sportsbooks. Even the big-name ones don’t offer such great odds that often.

At the end of the day, if you’re looking for an affordable way to gamble and don’t want to deal with shady operators or suspicious betting websites, then cryptocurrency sportsbooks are a great option. Just be sure to do your homework before you place a bet — especially if it’s your first time, as there are a lot of scammers out there who would love to take your money. 

And if you are looking for an operator with a good reputation, then traditional sportsbooks are still the safer bet, as you’re not putting your trust in an unknown entity. But, like I said, they’re not known for having the best odds and, in many cases, you can find much better deals at cryptocurrency sportsbooks. So if that’s what you’re looking for, then it’s wise to check out the best sites first, before making a decision.