How Indians Can Bet On Sports Using Bitcoin
Sports betting in India has become massively popular in recent years. This development is in large part thanks to the creation of online sports betting. For those who are not aware, the online sports betting industry first began in the 1990s. However, over the years, as computer technology developed, so did the iGaming industry.
Online Sports Betting in India
In India, online sportsbooks are completely legal. Not only can residents of India place bets on their favorite sports, but they can also do so online. And it doesn’t stop there. Online casinos are also quite popular and prominent. India natives can place bets on their favorite sports or their favorite casino games.
Of course, in India, the most popular betting sport is cricket, followed closely by football. Indian players are the most prominent in cricket today, and the India cricket team dominates the rankings. So, if you join the Sportsbet Clubhouse, you will find that cricket betting will come a whole lot easier.
What is interesting about sports betting today is that you can do it with Bitcoin (or other cryptocurrencies). Of course, using crypto for wagering is a rather new phenomenon. So, we will give you a brief explanation on how it is supposed to work.
What is Crypto?
First thing first. We have to explain what cryptocurrency is. Certainly, many of you already know, so we won’t spend too much on this. But, for those who don’t know, cryptocurrency is a digital, decentralized currency, which is stored on a blockchain.
Cryptocurrency has been picking up traction in recent years. So, in 2020, many companies began accepting Bitcoin, the first and most popular crypto, as a viable form of payment. Chiefly among these businesses were sportsbooks and casinos.
How Can You Bet Using Crypto?
There are a ton of popular online casinos and sportsbooks that accept Bitcoin-based payments. The way to place a bet is simple. First of all, you obviously have to own cryptocurrency. Then, select a website that accept Bitcoin as a viable method of deposit. From then on, follow these simple guidelines:
- Sign up with the website.
- Go to your account and go to “deposit.”
- Select cryptocurrency deposit.
- Select the sport you want to bet on.
- Put down the bet.
- Wait for the results.
- If you win, collect your assets from the “withdrawal” section.
So, as you can see, betting on sports using cryptocurrency couldn’t be easier. Now, the question many of you will have is what cryptocurrencies are most popular among punters. We are going to answer that question in the next section.
Most Popular Cryptocurrencies to Bet With
Obviously, the most popular crypto is and always has been Bitcoin. Created in 2009 by the mysterious Satoshi Nakamoto, Bitcoin has won the hearts and minds of numerous investors from all over the world. Today, it remains the most popular and most highly-valued crypto on the market. Most experts don’t believe that it will ever be matched by the competition.
However, if you are looking for an alternative, the best you can do is look into Ethereum. The Ethereum blockchain was, at one point, Bitcoin’s main rival. The crypto is still incredibly popular today, and remains the silver to Bitcoin’s gold.
And speaking of Bitcoin and gold, maybe you could check out some Bitcoin hardforks, like Bitcoin Gold, Bitcoin Cash, etc. All of these were formed throughout Bitcoin’s existence and are quite successful in their own right.
Comments are closed.