As a currency that is available exclusively online, it may be hard for some people to wrap themselves around the potential value of using Bitcoin for Online Sports Betting transactions, whether it is at Vietbet or elsewhere. But the fact is that things are evolving rather nicely; merchants are gravitating toward “BTC”, because in many ways, it suits their purpose better than anything else.
Are there benefits to using Bitcoin for online sports betting?
Since anything involving Bitcoin is an irreversible transaction, there are no chargebacks (i.e., instances in which the customer gets a refund from a financial institution, even after partaking in the product or service). Anyone can certainly understand that business entities would take this position, and in the online sportsbook, there is a considerable sensitivity toward it.
What is positive about this dynamic is that merchants can afford to pass their savings onto the consumer, because they don’t have to worry about losing money that they have already taken in, and in the online gambling world that manifests itself in the ability on the part of casinos/sportsbooks to offer bigger and better bonuses for customers who sign up or stay loyal. That is what Bitcoin allows them to do, so it becomes just as viable as other payment options like credit cards, Western Union, bank transfers, gift cards or anything else.
Yes, there is a value to Bitcoin that goes beyond purchasing power; in fact, it is traded on exchanges, and it can be measured against, and traded for, all other world currencies. This includes the U.S. dollar.
But at the same time, it is important for Vietbet customers to understand that Bitcoin functions in different ways. For some, it might indeed serve as an investment vehicle, like, say, gold or silver. And those folks are certainly interested in the value going up. Others use it to buy things over the internet because they know they are not going to incur silly fees. There’s nothing that says online sportsbook customers can’t do that too, but the one function that makes Bitcoin work best is that it is a “protocol” through which transactions can be made seamlessly on a peer-to-peer basis. What it also does at the same time is produce a confidential transaction, in which the location of the customer never has to be known. This is the kind of thing that comes in handy for U.S. customers.
Privacy and confidentiality also means that there are not going to be any “institutions” standing between you and the sportsbook when you make a transaction. That means that there is not only no need to make your sensitive financial information available to a third party, but you don’t incur any of the fees associated with credit card usage or person-to-person transfers. And aside from that, the sportsbook is, in the opinion of many, not in violation of any U.S. laws either.
Vietbet wanted to give its customers all the best choices when it comes to depositing into an account, so Bitcoin is a very prominent part of the transaction “menu.” In fact, they allow for a higher limit on deposits than any other method – $25,000. And there are never any fees associated with a Bitcoin transaction, whether you are making a deposit or taking out a withdrawal!
To learn more, make sure you check out this great article from SportsBettingReviews.com.