The bitcoin is the most popular decentralized digital currency, which was created by developer Satoshi Nakamoto. It does not rely on a central server to process transactions or store funds. Bitcoins can be exchanged for real money, while it is also possible to purchase products and services online. This includes gambling and betting on sports.
Stakes using bitcoins are easy for players because the transactions are carried out immediately and free of charge. Some betting company’s also accept bitcoins without even having to register, which helps the client to remain anonymous.
The first online betting company to work with bitcoins appeared in 2012. Although a few traditional bookmakers allow the use of bitcoins, the cryptocyrrency has mainly attracted specialist betting websites, who know about bitcoins in greater detail.
The popularity of bitcoins has largely been supported by gamblers. Following the ban and the war against online casino’s, internet betting companies and poker websites in the United States and a number of other developed countries, gamblers have been looking for alternative methods to try and play online. The ability to play with bitcoins and then cash them out for real money is a way out of this situation.
The bitcoin gambling industry has taken off in recent years, with a number of bookmakers accepting bets using the virtual currency. The most popular websites include, Cloudbet, Nitrogen Sports, Jetwein, Betcoin Sports and AnoniBet. These bookmakers are registered in countries where the bitcoin has legal status or are not breaking the law, such as the United Kingdom, Curacao and Costa Rica. The operations carried out by a bitcoin bookmaker are similar to those undertaken by a regular betting organization.
Recently, famous US betting companies, such as 5Dimes, Island Casino, Sportbet, Bookmaker, BetDSI and BetCris have started to accept bitcoins. The bookmakers explained that the huge demand amongst its clients who wanted to use bitcoins was the reason for the decision.
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