The fact that the Bitcoin price is skyrocketing is fantastic news for sports gambling. The world’s most valuable cryptocurrency is up 115 percent from where it was on January 1, 2020. To put that into perspective, the average annual return in the stock market or in the world of real estate is about 10 percent per year.
The reasons a skyrocketing price is good for sports gambling are plenty and counting them down will give you further insight into what the future holds and how sports gamblers like you can benefit from it.
Win More with Less Bitcoin
Perhaps you got into Bitcoin before 2020’s big price run-up. Maybe you’re even lucky enough to be an early adopter because you saw the potential and you’re up hundreds of percentage points above investors who are just getting in now.
Either way, if you’re into sports gambling with Bitcoin, Ethereum, Litecoin or any other cryptocurrency for that matter, you’re now winning more with less. This makes managing your bankroll easier. It makes going on a losing streak easier to swallow, and it makes the impact of going on a winning streak even bigger.
Even if you’re not betting that often, holding your cryptocurrency on your betting account and not wagering might actually be an even better gamble. This way you can wait on the sidelines until you see a favorable point spread that you really like and become a more efficient gambler. Plus you won’t miss out on not wagering because your bankroll is likely going to grow in value without you doing anything.
Sharp bettors separate themselves from casual gamblers because they have an eye for spotting the best odds. Work on developing that well-trained eye and reap the rewards thanks to price appreciation and winning bets at a higher rate.
More Competition Equals Better Odds of Winning
After representatives from the company said its organization wouldn’t get into cryptocurrencies for several years, PayPal is finally joining the Bitcoin frenzy. Arguably the world’s most popular online payment solution, the company is finally allowing customers to buy and hold cryptocurrencies using their PayPal accounts.
This means the days of payment companies like PayPal, Mastercard and Visa restricting gambling transactions are done. Now you can buy cryptocurrency, transfer it to your sportsbook of choice and never have to explain yourself to anyone.
That’s great for your privacy, but the fact that PayPal is Sportsbook up the floodgates to over 26 million merchants who might want to receive cryptocurrency from PayPal customers means that a greater number of merchants who don’t want to do business with PayPal anymore can take the cryptocurrency in lieu of dealing with PayPal directly.
This means more and more gambling operators will start to accept cryptocurrency as a way to cut out the middleman and give players like you better odds. The likelihood of you winning on a consistent basis goes up, and the gambling operator increases their profitability by cutting out PayPal and similar services altogether. It’s a win-win.
Bitcoin Is the Future of Stability
This might’ve been almost unimaginable to say a few years ago, but the reality is that Bitcoin represents the future of financial stability. Governments are still struggling to deal with the harsh realities of coronavirus and the economic fallout that goes along with it.
This means those governments are printing off more and more money and devaluing their currencies. That’s why more and more investors and gamblers are storing their wealth in cryptocurrencies. Even when the pandemic is gone, this trend is sure to continue. People may not directly use cryptocurrency to replace cash, but they will use it to store value in the same way that they use gold.
If you know how to win your sports bets consistently, investing in your bankroll is probably just as valuable to you as investing in gold is, so why not use digital currency as a hedge against a broader economic downturn and protect the value of that bankroll?
Now might just be the right time to bet big on Bitcoin. It’s up to you to take the plunge, but don’t wait too long. You’re risking getting left behind.