I read an article in the NY Times this week about bitcoin and they mentioned that some online sportsbooks deal in bitcoin (I am guessing for the "anonymous" factor, although it seems like bitcoin is not fully anonymous.)
Does anybody use a bitcoin sportsbook? What are the advantages/ disadvantages? It seems like wading into the bitcoin market adds another layer of risk to the wagering process.
Posted Apr 9, 2013, 7:42 PM UTC
Personally I use bitcoinsports.eu. You complete your bet slip then you send bitcoins to the address and if you win you get it back plus your winnings. You don't have to make an account and its simple to use.
It would need to be more stable before I would use it for that.
I've used a bitcoin sportsbook. btcsportsbet and btcsportswager.com (the former being a book and the latter being a matching site, 1% vig) are the most reputable ones (they're run by the same guy).
Advantages: easy cashouts (to bitcoin). Depending on your country of residence, easy cashout to local currency.
Disadvantages: If bitcoin crashes (it's going to soon I would say), so do your winnings. On the other hand, bitcoin could also rise, covering any losses.
Only one reputable book. The others have not been around long and have very low limits (anonibet has high limits, but sketchy CS and sometimes slow pays over a week). Also, none of these books are as serious as your offshores - no phone support, just a website with a bitcoin address. Some are just one-man operations that could vanish overnight.
I use casinobitco.in and love it.
I was just reading about this, then I looked at the current price of bitcoins, and holy fuck its at over $200/bitcoin...man I wonder if that guy who invested in bitcoins waited, I remember it hitting at $90 a few weeks ago but didn't think it would keep going up....
I don't have the hardware to mine bitcoins and don't want to sell drugs, what would be a decent way to get a few bitcoins? I saw a few sites that do take bitcoins for sportsbooks:
http://bitbook.biz/?referer=betwithbtc
From the few odds I looked at it was pretty consistent with the odds in my book I use (Betonline)
Imagine if you made a season win total bet in bitcoins. Not only are you betting on a team, you are betting on the valuation of bit coin at the end of the season. Either it turns out to be a brilliant play, or you could even lose money even by winning the bet.
IMO bitcoin is going towards a bubble and crash, so long term bets are probably not advisable.
Pornographic web shows?