How Crypto Betting is Changing the World of eSports

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Esports have exploded in popularity over the last few years, with games like Fortnite being enjoyed by hobbyists and professionals alike. With this growth in popularity comes huge international events where players can compete in their favorite game. As with any competitive sport, spectators enjoy placing bets to raise the stakes and make it more exciting to watch. In our ever-expanding world of technology, crypto betting (betting using cryptocurrency) has become one of the best and most lucrative ways to enjoy esports.

How has crypto betting transformed how we bet on eSports? Let’s find out.

“Cryptocurrency” (CC BY-NC 2.0) by focalphoto

 

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Firstly, a quick explanation for the uninitiated; cryptocurrencies like Bitcoin are digital currencies that can only be accessed by the owner, making it near-impossible for fraud or counterfeiting to occur. In turn, crypto betting simply replaces the use of traditional currency in the world of online betting.

Why is Crypto Betting Beneficial for Esports?

There are numerous benefits for choosing crypto betting over the traditional method. Primarily, it’s the most private and secure system available. As previously mentioned, your cryptocurrency wallet can’t be accessed by anyone other than yourself, meaning that your money can’t be stolen nor will your account be frozen.

Additionally, you won’t be required to submit any of your personal information to use your chosen cryptocurrency. While this can sometimes cause drawbacks, in the world of esports betting it means that you’re safely protected from identity theft and chargebacks.

When you use crypto betting you’ll also get your winnings much quicker than if you used traditional currency. With the latter, it will often take up to several days to receive your money, but Bitcoin and other cryptocurrencies are designed for instant transactions, so you could see your winnings in as little as a few minutes. Additionally, through crypto betting, you’re actually using a globally-recognized currency which saves you any hassle with exchange rates.

 

“Team of Professional eSport Gamers Playi” (CC BY 2.0) by nodstrum

Is Crypto Betting for Me?

Undoubtedly, we’re living in the golden age of eSports — you only need to look at any eSports news source to see its reach and popularity. However, if you’re new to crypto betting it can be hard to get started, and the sheer number of sites and currencies available is overwhelming.

Firstly, it’s good to know which cryptocurrencies are best to invest in. Before you get started you should get to know current trends. As the very first of its kind that dates back to 2008, Bitcoin is a reliable choice; however, it’s expensive, so be sure to do your research.

Once you’re familiar with how cryptocurrencies work, you can get started with betting on your favorite eSports. There are numerous websites that accept cryptocurrency and, once again, doing your research of where to get the most bang for your buck will take you a long way.

Overall, technology has transformed the way in which we do everything, including betting. This is only set to continue and there’s no time like the present to get involved in crypto betting.

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