Sportsbooksand betting have been changing significantly the last several years. New options with better betting, faster payouts, and fun options are popping up every week. Now, in 2020, we have sportsbooks and betting that accept Ethereum and other cryptocurrencies.
Which ones are the best for you? And should you bet with Ethereum?
Why use Ethereum Sportsbooks in 2020?
Sportsbooks, gambling, betting, and all such online activities have seen fantastic improvements thanks to cryptocurrencies. The most notable are:
- Faster deposits and withdrawals.
Cryptocurrencies enable faster transactions thanks to their blockchain networks. These decentralized networks are faster at processing monetary transactions then SWIFT and other banking methods typically used by most online sportsbooks in 2020.
- Cheaper deposits and withdrawals
Most online sportsbooks in 2020 that don’t accept cryptocurrencies will charge higher fees for transactions than fees charged for similar transactions involving cryptocurrencies. This is especially true for transactions involving credit cards, which will charge astronomical fees.
- Cryptocurrencies can be anonymous
All online sportsbooks in 2020 that don’t accept cryptocurrencies will ask for identity verification in order to comply with KYC and AML laws. Sites that accept cryptocurrencies might not ask, and if you get your ethereum in an anonymous way — you can keep your financial privacy and your gambling anonymous.
These benefits will only become better, especially with Ethereum sportsbooks in 2020 because in late 2020 or 2021, the Ethereum network is planning on upgrading to Ethereum 2.0.
The benefits of Ethereum 2.0 are significantly faster transactions, staking rewards, and more factors that will make sportsbooks taking advantage of Ethereum even better.
The upgrade potential has already seen affects enter the Decentralized Finance space, with a Forbes article commenting:
“DeFi has been found to be one of the biggest drivers of ethereum growth in recent months, with DeFi applications accounting for over 97% of all decentralized app volume on ethereum according to a July report from Dapp.com.”
You can be sure that sportsbooks with Ethereum will see similar growth in the years ahead.
Best Ethereum Sportsbooks in 2020
With all that in mind, let’s review some of the best Ethereum Sportsbooks in 2020. These are sportsbooks that accept Ethereum for deposit and withdrawals.
They’re available for punters and players in EU and Asia. They have solid customer service and a great selection. They may not have the best welcome bonuses, but they’re up there.
Another solid choice, but this time available worldwide, including US players. Their welcome bonuses are not as great as Sportsbet, but still quite good.
They are also available to players worldwide and could be the best option for anonymous betting. Not the best customer service when compared to their rivals above.
Investigate them to see which one suits your purposes the best. There are others, of course, but they might not be as balanced.
How to bet on Sportsbooks with Ethereum in 2020
If you’re just entering the Sportsbetting scene, you might want to learn how to buy and use cryptocurrencies. If you’re not new, you might still want to brush up on the new options in 2020.
- Buy crypto like Ethereum
The usual ways are: exchanges, in-person, and sometimes credit cards. Unfortunately, buying crypto through credit cards is becoming increasingly difficult as more laws are put in places.
A new way of buying crypto in 2020 is taking out a DeFi loan. DeFi stands for decentralized finance. With some DeFi platforms you can deposit fiat money as collateral and borrow crypto. You can then use this crypto for betting and gambling, then pay back the loan with any winnings you may have — or with fiat if you’re ready to call it quits.
- Send crypto to sportsbooks
Once you have your cryptocurrencies, you should send them to your sportsbook of choice. Make sure to triple check the address you’re sending to and note any fees you might be charged for the transactions.
- Take out your winnings
Some sports betting sites restrict the amount you can withdraw at any time. You might want to check if you’re restricted to a certain weekly or monthly limit and choose your sportsbook according to your withdrawal needs.
Those are the top tips and review of the best Ethereum sportsbooks in 2020. Keep learning and reading for a better understanding. Happy betting!