Cryptocurrencies are gradually becoming a staple in every reputable online casino and sportsbook. In fact, did you know that cryptocurrencies are most often used for gambling? Long story short, yes, you can bet on horse racing using cryptocurrencies.
As far as horse racing goes, the sport is extremely popular among punters. Moreover, with the future of horse racing looking bright, the number of betting sites that offer horse racing betting and accept crypto is on the rise.
The good news is that even today, there are a ton of betting sites where you can bet on horse races using cryptos. Not sure where to start? Don’t worry—we will show you where you can bet using crypto and what are some pros and cons of using cryptocurrencies for betting.
Horse Racing Traditional Betting
Horse racing is one of the most exciting sports to watch live, and it is even more fun if you place a wager or two on your favourites. The sport is only second to football in the UK and is also extremely popular in the US, Canada, France, Australia, and Japan.
Nowadays, a good chunk of horse racing betting occurs online, so it is crucial that you pick a sportsbook that suits you the best. Granted, while betting online doesn’t have the same appeal as betting at the meet, online betting sites do offer a ton of different markets you can bet on, which is also one of the most important factors to consider when picking a betting site.
Apart from that, make sure that the sportsbook you choose allows you to bet on horse races across the globe. Namely, course length and track surface can vary from one country to another, adding even more fun and variety to the mix.
Horse Racing Betting with Crypto
When it comes to horse racing betting with crypto, the betting process is virtually the same as it is with traditional betting. The difference? You are betting cryptocurrencies instead of fiat currencies like pounds, euros, or dollars.
Naturally, the first step is to find a reputable betting site that offers all the betting markets traditional sportsbook offer and accepts cryptocurrencies.
A good starting point is websites like CasinosBlockchain, which offers a multitude of options for crypto gambling. Granted, while CasinosBlockchain specializes in crypto casinos, the majority of casinos have a sportsbook attached to it, so you’re guaranteed to be spoilt for choice.
Of course, in case you would like to do all the grunt work yourself, you should know that you’re only a Google search or two away from a sportsbook that accepts crypto and offers horse racing betting.
However, make sure that you find a betting site that is licensed, has a number of horse betting markets, accepts payments in cryptocurrency you are looking to use, and has a good reputation among punters.
Advantages and Disadvantages of Betting with Crypto
One of the biggest advantages of betting with crypto over fiat currency is that withdrawing crypto is significantly faster than withdrawing fiat. Cryptocurrencies are decentralized, meaning that no third party, such as banks, is involved in the transaction.
As a result, crypto casinos and sportsbooks can process payments much faster than traditional online casinos that deal with regulated fiat currencies.
Another benefit of betting with crypto is improved security. Not only that, but using crypto is more transparent and offers better anonymity—you will have to provide the bare minimum information before registering at a crypto casino. In some cases, only a username and an email will do.
Keep in mind that the majority of reputable crypto casinos are licensed, so you will have to provide personal information at some point. However, most crypto casinos run KYC checks only if you withdraw large sums, which is done to prevent money laundering or any other fraudulent activity.
Lastly, crypto casinos generally offer much higher bonuses than traditional betting sites. Coins like Bitcoin or worth thousands of dollars, so it only makes sense that crypto casinos offer large welcome bonuses. The good news is that bonuses often even have lower wagering requirements.
Of course, there are some downsides to betting with crypto, and one major disadvantage is that cryptocurrencies are volatile. The value of Bitcoin changes rapidly, and the amount you win might be worth significantly less in the long run if the value of Bitcoin depreciates over time.
The Bottom Line
Crypto betting is a preferred choice for thousands of punters across the globe. It offers numerous advantages over traditional betting, and once you set up your wallet and get started, it is even a lot more convenient.
Ultimately, it is entirely up to you whether you’ll use crypto or fiat currencies for betting. The most important thing to remember is that gambling is risky. Therefore, bet in moderation and only bet the amounts you are prepared to lose.
Suzanne Ashton, Founder of Everything Horse (Est, 2012), has a BA Hons in Marketing Management and a Diploma in Equine Science. Suzanne has ridden and owned horses all her life and has twelve years of experience in marketing, writing, design, SEO, and website creation.