Betting with Crypto is becoming more popular and widespread, and it’s easy to see the lasting impact it is going to have on the betting world. Football is one of the most popular sports in the world, both just in terms of viewers, but also in terms of betting. Of the $200 billion USD that the global betting market is worth, a staggering 70% of that is estimated to go on football alone. Many of us are wondering whether you can currently use crypto to bet on football—so let’s look at some of the advantages and disadvantages of betting on football with crypto.

Advantages of crypto football betting

Let’s first just point out that, in most places, you can indeed bet on football with crypto. The crypto market, globally, is still rather unregulated, meaning that there are no laws restricting its use in sports betting, and so many legitimate betting platforms accept crypto bets for football. It’s just a case of finding them.

Crypto has built-in anonymity, meaning that you never need to surrender much personal and financial information to set up your account to bet with crypto. In the age of leaks and fears around digital security, this is a huge advantage in cryptos favour.

It’s also a lot faster, and this has huge implications for live betting. Live betting has become one of the most popular ways to bet on sports, but it can be difficult when fiat transaction times can take hours or even days. With crypto, the transactions are quick and the fees virtually non-existent and many football focused bookmakers like 888sport promote the use of crypto.

Even the football world itself is beginning to adopt crypto—in 2018, the Turkish team Harunustaspor actually used Bitcoin to buy a player. As the football world adopts crypto more and more, the use of it in football betting will become more common and even easier than it already is.

But, despite all this, there are some important caveats.

Disadvantages

One of the big issues with cryptocurrencies in general is that they lack stability. The value can fluctuate wildly without any clear indication of why, and this can mean that money you deposited ends up being worth less, or winnings not as high as they were.

It also has something of a barrier to entry in terms of technical understanding. While you may be completely savvy on how to use it, the wider community is always going to be hesitant to adopt it until it is generally easier and simpler to use.

Furthermore, the future of crypto regulation is not entirely clear. Many English Premier League teams paired with crypto platforms and began selling tokens that fans could use in a variety of ways. But two of these promotions from Arsenal were banned, over apparently misleading claims about investing in crypto.

So, the point is that while crypto is really free and easy to use in terms of bypassing more traditional regulations right now, that may not always be the case. Crypto will, almost certainly, eventually be regulated in one way or another by governments, especially when it comes to using it to bet.

So, in the end, things are plainly a little bit up in the air at the moment. Crypto betting is still rather in its infancy, and so there are still some unanswered questions to be addressed. At the same time, it’s plain to see a lot of the advantages of using crypto for betting on football, and it’s hard to see how those will not encourage development in the sector. One way or another, you can currently bet on football with crypto.

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