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Why Use Bitcoin For Online Gambling?

By: OSGA - osga.com
Published: Sep 15, 2015

More and more establishments that are involved with online gambling, including BetAnySports, have discovered Bitcoin as a method of payment to make available for their customers. Why is that? Well, one of the reasons is that it is very quick; all it requires is a transfer from one party's Bitcoin wallet to that of another. It doesn't require any prior approval from banks, and in fact, there are no "financial institutions," as we know it, that are ever involved in the process. There are no third-party conduits to get in the way. This, in plain language, accommodates many players who do not necessarily want others to know what they're doing. Sportsbooks, as you might imagine, are also concerned with privacy and confidentiality.

And let's face it – online sportsbooks do not necessarily like chargebacks, because they subtract money from the bottom line, sometimes long after the initial transaction has been made. This is often the case with credit cards, which, as you may know, are a common method of opening up accounts. So Bitcoin transactions turn out to be very efficient and very solid for them.

online gambling bitcoinPlayers do not have to reveal their financial information when they affect a Bitcoin transaction. And you can certainly imagine that many customers are sensitive to that kind of thing. Bitcoin offers a less "traceable" transaction, since in fact they are, on the surface, anonymous. Transactions are also conducted in such rapid fashion that there is a natural advantage to using this virtual currency. When a player is looking to get into action at a place like BetAnySports, this can be a major selling point.

Physical addresses are not required from people doing Bitcoin deals; they are generally identified by a number (that of the "Bitcoin wallet" that stores the currency), so whether a player is from the United States or not isn't even an issue.

One thing that is characteristic of Bitcoin transactions as they relate to online gambling is that it is even easier to open up an account that it would be through a credit card or through another method like Western Union. And sportsbooks like BetAnySports have it integrated right into their online wallet, so the whole thing is automated.

So how does one go about getting involved with Bitcoin? Well, it is actually a rather headache-free process. Just go to Bitcoin.org and download the Bitcoin wallet. You can get one to fit any device, whether it is a smartphone, tablet or a personal computer. After you have done that, all you have to do is go to a Bitcoin exchange and acquire some of the currency. Go to Google and you can find a list of them. Follow the simple steps, do the transaction, and you will now have some Bitcoin to use in whichever way you see fit. Remember, even though you will give your name to the Bitcoin exchanges, they have no idea what you are going to do with it.

Then proceed to any online sportsbook that accept Bitcoin, like BetAnySports, and get started with their automated process. You'll be playing in no time!



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Comments (1): Subscribe by Email
Why Use Bitcoin For Online Gambling is a header for an article from 2013. There is no more doubt about the value of BTC to the industry ( and other industries as well )

Bitcoin Gambling is here to stay, its good to the operators and its great for the players.

Chris
www.bitcoingg.com
- September 6, 2015

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