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Bitcoin [BTC] now can be used as a legal tender for gambling on horses

On Saturday, May 5th of 2018, Kentucky Derby which is the 144th annual Kentucky Derby is scheduled to take place in Louisville, Kentucky. The field is open to 20 horses, with a purse of $2 million. At the end of the two-week-long Kentucky Derby Festival, the Kentucky Derby, a horse race is held annually in Louisville on the first Saturday in May.

It is a Grade 1 stakes race for three-year-old Thoroughbreds at a distance of 1 14 miles (2.0 km) and has been run at Churchill Downs racetrack since its inception in 1875.

NBC is set to broadcast the race and NBCSN is set to cover the undercard races which begin at 12:30 pm EDT and main network coverage of pre-race activities starting at 2:30 pm EDT. Post time is generally about 6:30 PM EDT.

The most interesting fact about the 2018 Kentucky Derby is that it will allow the bettors to use Bitcoin as a medium for betting. Bitcoin is used in multiple industries and across a wide plethora of businesses as a mode of payment, it would be the 1st time it would be used in a gambling event of this level.

According to USA Racing, Kentucky Derby will first time allow bettors to use Bitcoin. The use of Bitcoin and other such currencies is increasing amongst the horse betting community in the recent times. Over $100 million dollars were wagered in the last year Kentucky Derby which set a new record. Many expect to see an overall increase in the volume in the Kentucky Derby 2018.

An online betting website says:

“The crypto-currency does not operate within any country’s laws, which makes it invulnerable to seizure by any government. This is one of the reasons for its popularity and rapid growth and the increasing number of sports betting sites accepting Bitcoin.”

The post Bitcoin [BTC] now can be used as a legal tender for gambling on horses appeared first on AMBCrypto.

This post first appeared on AMBCrypto - Latest Cryptocurrency News, please read the originial post: here

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Bitcoin [BTC] now can be used as a legal tender for gambling on horses


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