Bitcoin Betting – The Latest Online Gambling Craze
Published on April 24, 2018
Online gambling in all forms has really taken off in a big way, seemingly overnight. Of course, the truth of the matter is that online gambling enjoyed a steady climb on the web over several years.
Thanks to other rapid advances in key tech areas like bandwidth and mobile gaming capabilities, more internet users are getting into gambling online, exploring the myriad of options that are now freely available.
At the dawn of the online gambling age, the level of doubt regarding this brave new world of virtual or digital gambling was significant, which is in stark contrast to the attitudes expressed today.
One way to look at it is that the industry has had enough time (around three decades now), to prove that it can be a safe and viable gambling option. It really all boils down to how you choose your sites and actual gambling options.
Online sports betting is a great example of just how wide the scope can get when it comes to gambling or betting online. While most online casinos stay pretty much rooted in core offerings such as slots, table games, live dealer games, and so on, online sports betting sites seem to keep expanding their markets and betting options.
When most people think of online sports betting, they usually think of horse racing or NFL football. This kind of makes sense, since whenever you see anyone talking enthusiastically about betting on sports, it’s usually fantasy football, ponies (horse racing), dogs (greyhounds), or European football (soccer).
So that’s great, but what about other options? What if you really want to try your hand at online betting, but none of the “regular” sports float your boat? Luckily, most online sportsbooks offer alternatives to the usual sports betting markets, and these are collectively known as “novelty betting.”
Yes, believe it or not, most top online sports betting sites have a good sense of humor and know that their players’ preferences consist of more than one dimension.
Sure, it is exciting to bet on the Super Bowl or Stanley Cup, but it can be just as much fun betting on who will win the best supporting Oscar, or which one of the Kardashians will embarrass themselves in some or other way.
Let’s face it, not everyone loves sports, but almost everyone loves to bet on the outcome of an event or popular topic. Take the massive presidential race that happened between Hillary Clinton and Donald Trump, for example.
Most of us couldn’t even believe that it was actually a real presidential race, since it seemed more like some sort of ridiculous and grotesque publicity stunt!
While everyone was shocked, outraged, dumbfounded, or happy, you can bet that some people were laughing all the way to the bank, cashing in their bets at top online bookies all over the web!
Novelty betting is a bit of catch-all term which can cover a lot of betting options. Basically, it simply means betting on things that are not related to sports. So, this can include politics, as our example above demonstrates, or entertainment, which can include the latest social media gossip, events in the world of music, TV, or film, and even the weather. One of the newest novelty betting options to hit the online betting niche is Bitcoin betting.
This is not all that surprising considering just how massive Bitcoin has become all over the web. It should probably also not come as much of a surprise to learn that more and more online sportsbooks are now offering players the chance to fund their accounts with cryptocurrency, in place of the regular “terrestrial” currencies.
Essentially Bitcoin is what is known as a “cryptocurrency,” which means that it only exists on the web and is not a “real” currency like dollars or Euros are.
Bitcoin is not only different from the so-called terrestrial currency based on how it exists; it is also unique in that it is completely decentralized.
Bitcoin can be bought online by exchanging your regular currency for Bitcoin via a Bitcoin-specific e-wallet such as Coinbase. The important thing to keep in mind here is that Bitcoin increases in value as more web users begin to see the benefits of investing in and using Bitcoin online.
Betting on the success or failure of Bitcoin is the latest craze that is starting to sweep online sports betting sites, as this popular cryptocurrency begins to get on more and more web users’ radars. The speculation is rife as to the ultimate fate of Bitcoin. At this stage, there are as many supporters as there are detractors of the popular cryptocurrency.
Will it continue to expand as it has been doing over the past few weeks? Is the bottom eventually going to fall out of the Bitcoin boom? What about direct competitors to Bitcoin such as Ethereum or Crypterium? Will Bitcoin manage to stay at the top of the food chain?
Bitcoin betting can be an exciting alternative to your regular Monday night football betting, or can be a great way to get into online betting in a fun and very “now” kind of way.
An increased number of online sportsbooks are starting to offer all sorts of Bitcoin betting markets, so you can bet on anything from how high you think the value of Bitcoin will peak at to how soon the Bitcoin bubble will burst.
Betting on Bitcoin could become your best online betting discovery yet!