Why Cryptocurrencies are Popular for Esports Bets
When it comes to esports betting, all of it takes place online, and governments are slow to react to what is happening. The industry is growing at a rapid pace, but for many bookmakers, getting a license to operate in a certain country can take years. This means that many bettors cannot use their services unless they utilize cryptocurrencies and retain their anonymity.
If you’re interested in betting on esports using cryptocurrencies like Bitcoin, you can place esports bets on Thunderpick without any problems. The platform is 100% safe and legit, and the betting markets are really impressive. All of the big esports get proper coverage, and that includes even B-tier tournaments.
Bet now on games like Dota 2 using crypto: https://thunderpick.com/en/esports/dota-2
Betting on Esports with Cryptocurrencies
Betting on esports with a cryptocurrency like Bitcoin, Ethereum, Litecoin, or some other alt-coin offers you big advantages. The first of these advantages is anonymity.
For standard gambling services, you’ll be asked to reveal your identity, your bank, and so on. Everything about your actions will be known, and that may not be what you want. But with crypto, part or all of your private data remains private. This gives you the possibility to enjoy yourself without having to give a lot of explanations to your local bank or local government.
If you already own bitcoin or some other form of cryptocurrency, it’s very easy to transfer it. You can deposit money into your account or withdraw it very quickly. The fees are also small or non-existent, so you can do it as often as you like. In most cases, it’s a good idea to set aside a gambling budget and then use it over a longer period of time.
Esports betting can be a form of entertainment because the matches are a lot more exciting if you have skin in the game. But it can also be profitable if you become a skilled bettor.
Some of the best cryptocurrencies for esports betting are Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Tether, and XRP. On Thunderpick, you can use whichever one you want. A lot of bettors like using Tether because it’s easier to understand exactly what amounts you’re wagering. Its parity with the US dollar makes it a great option.
But that doesn’t mean you can’t place bets with any other cryptocurrency listed above. Some of the options have lower transfer fees, while others take privacy to a completely different level.
Security and Ease-of-Use
One thing that you need to understand about Bitcoin betting is that bookmakers that are regulated will apply the same rules for fiat and crypto transactions. They will also give you the same level of security, so getting scammed is out of the question.
Of course, you should always use the services of a good bookmaker that has been around for a while and has good experience in running its operations.
Another important factor when betting with cryptocurrency on esports is the betting site’s UI/UX. When you place esports bets, it’s important to be comfortable and have a good visual experience.
Especially if you do it repeatedly during live betting sessions, experienced bettors often place multiple bets on the same match and even on its individual games. The last thing you want is to struggle to find the right buttons.
This is particularly true if you enjoy betting on multiple matches simultaneously. Not all esports betting sites give you a nice UI/UX when minimized, but if you use multiple monitors, that won’t be an issue. The problems start to arise when using your smartphone or when dividing the screen of a big monitor into more than two sides.
What Esports You Can Bet On Using Cryptocurrencies
If a bookmaker gives you the option to bet on esports using crypto, it usually allows you to bet on all of its available esports using any of your available cryptocurrencies.
So if you love to bet on Dota 2 or other esports, you can do that with ease. But if you want to switch to CS:GO, Valorant, or League of Legends, that won’t be an issue.
Most Used Cryptocurrencies for Betting on Esports
For many esports enthusiasts, watching esports live on Twitch and betting on the matches is a very enjoyable experience. And it’s understandable why. When you’ve been playing a game for years and following its professional scene, at some point, you figure out that you might be able to put all that knowledge to use to make some money. Or at least to enjoy yourself a bit more while watching your favorite teams.
When you bet on esports using crypto, you can choose between a lot of different options. The most popular of them are these:
Bitcoin might not be the strongest cryptocurrency when it comes to how it’s designed, but it’s by far the most popular because that’s where everything started. The advantage of using Bitcoin when placing bets is that any bookmaker that will allow you to bet with crypto will automatically provide you with the option of using Bitcoin.
Ethereum is a second-generation cryptocurrency that has a strong team behind it and great qualities from a technological standpoint. When you use Ethereum, you’re fully anonymous, and the transaction fees are small.
Tether is an excellent choice when betting online because you get the best of both worlds: anonymity and stability. While other cryptocurrencies might vary dramatically in price over the course of just one week, Tether will always remain at the same value. This means that betting with Tether is just like betting with fiat, except you’re anonymous.
Bitcoin Cash resulted from Bitcoin’s 2017 fork, and it’s a good cryptocurrency for transactions. With Bitcoin, the fees may be large in some cases. But if you use Bitcoin Cash, they are drastically reduced. That was the whole point behind the fork – to turn a cryptocurrency that was similar to gold into one that was more fluid and usable at a high frequency.