A Complete Guide to Crypto Betting: A blog on the basics of crypto betting.
- Are you a fan of esports?
- Do you love betting on sports and games?
- Have you ever wondered what it’s like to bet on esports?
- Are you intrigued by cryptocurrency and want to learn more about crypto betting and how it works?
If so, this blog is for you! In this blog, I will be covering a complete guide to crypto betting. I’ll start with covering the basics of what it is, why people have taken to betting on this particular kind of online gambling, and how to get started with it, before finishing off by focusing on some of the current issues surrounding it, as well as looking at some real-world examples of people who are making money from betting on esports with cryptocurrencies.
What is CryptoBetting ?
CryptoBetting is the first decentralized betting exchange for esports, powered by blockchain technology. The platform is currently in a closed beta phase. We are continuously testing new features and adding new games to the platform.
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CryptoBetting offers a wide range of competitive odds for Counter-Strike: Global Offensive (CSGO), League of Legends (LOL), Dota 2, and Overwatch. We aim to cover all major esports titles in the future and provide players with an easy way to bet on their favorite team or player.
At the same time, we will support teams and organizations by providing them with data they can use to increase their performance and win rates. In order to do this, we will build partnerships with tournament organizers. This way, we can offer both players and teams a way to make money by analyzing their own performance data.
How does it work?
CryptoBetting is a decentralized, peer-to-peer, fully transparent betting platform. It allows anyone to create or participate in any betting pool in a trustless and anonymous way.
Anyone who has some Crypto coins can use them to bet at CryptoBetting. When they make a deposit, they receive free tokens called Betting Tokens (BTK). These tokens are used to place bets on the platform. After making a winning bet, users receive extra tokens as bonus money.
What are the Benefits of Crypto Betting?
The benefits of crypto betting are obvious:
- Complete anonymity and privacy: Your information and your identity are fully protected by Blockchain technology. Nobody but you can access your funds or identify you as a player.
- Lower fees: With the elimination of a middleman and decentralization, we can offer lower fees for both players and bookmakers.
- Faster payouts: You won’t wait for days for your winnings to be paid out! CryptoBetting’s smart contract feature will ensure instant payouts.
- No geographical restrictions: Since crypto betting is based on the Ethereum Blockchain, there are no borders or geographical restrictions.
Is CryptoBetting the future of betting?
At the moment, many people perceive the online gambling industry as a vast, seedy underworld of rigged games, kingpins, and fraudsters. While there’s no doubt that unscrupulous operators have made careers out of taking money from unsuspecting punters, we’re on a mission to offer our users a different experience.
How do I start crypto betting?
To start crypto betting, simply visit CryptoBetting.io and create an account using your email address or Facebook login credentials. After you’ve created your profile, you’ll be asked to verify your identity by uploading an official document such as a driver’s license or ID card; this will ensure that only real people are participating in their games.
Once you’ve verified yourself, you can make a deposit using any of the available payment methods: Bitcoin (BTC), Ethereum (ETH), or Litecoin (LTC). The minimum deposit amount for each cryptocurrency differs from $20 to $100, depending on which currency you choose; however, there is no maximum limit to how much you can deposit.
If you are looking to bet on esports this is a great place to do it. With their Christmas promotion, they offer up to a 50% bonus on your first deposit.
For now, it’s too early to tell if CryptoBetting will dominate the esports gambling market, but the startup is certainly poised to make a big splash in online gambling. Its use of blockchain technology could help it reach even further than competitors like Unikrn have in recent years, and we’ll continue to watch its progress with great interest as it moves closer towards a full launch.