These days, crypto casinos and betting sites are becoming more prevalent. One of the main concerns of any online player has always been one of security and trust that their data is not going to be supplied to unwanted third parties. And this is where crypto betting sites come in.
How crypto betting sign-up works
For most online casinos there is a strict process to follow in order to get an account. The process involves providing personal details, including name, address, email, phone number, date of birth, and so on. Not only that, but once this process has been completed, player accounts are still not fully unlocked until they have been verified.
Verification or Know Your Customer protocols require players to provide ID in the form of a bank statement or billing address as well as a passport or driving license. Depending on the casino, some will also require a selfie taken in real time. Now, all of this is in place to protect both the player and the casino. But, the process can be time-consuming. And many players do not want to be giving all this personal information to a casino. Enter cryptocurrency casinos.
By using a crypto casino or sportsbook, players can circumvent these issues. When it comes to signing up, players do not need to provide any personal details. Instead, all they have to do is provide a name and email address. Once this is done, players just need to link their crypto wallet to their account. With the crypto wallet in place, the casino can simply verify the player and their ability to make a deposit via the blockchain. No personal details are provided.
Additionally, these wallets provide anonymity when it comes to payment history as well. There’s no way to trace a payment allowing players to place bets in peace.
Discovering what crypto casinos and sportsbooks offer
So, now that it’s anonymous, how beneficial is it to actually play at a crypto betting site versus a traditional online casino? Well, as with all casinos, there are pros and cons to both types.
Crypto security
While it’s fast and easy to sign up, cryptocurrencies are not actually legal tender in most countries. This leads to licensing issues for crypto casinos and sportsbooks because governing or regulatory bodies do not permit cryptocurrencies as a payment method. As such, this means big, comprehensive jurisdictions, such as Malta and the UK, will not license crypto casinos, thus affording them no oversight.
This doesn’t mean that these betting sites are illegal or unsafe. Many crypto casinos hold licenses from other jurisdictions, such as Curaçao. They’re obligated to offer a range of security and responsible gambling protocols in order to cooperate. However, should players run into trouble or not get a payout, there’s no one to go to get help.
Promotions to boost play
Just like traditional casinos and sportsbooks, there are casino and sports betting bonus offers available. However, on crypto sites, these bonuses can be huge. As they use cryptocurrencies, these sites are able to offer bigger and better bonuses.
The only downside is that players are already gambling with crypto. Given that any crypto is a decentralized currency, the value is always in flux. As such, making a deposit and taking on a bonus one week can mean an extra large bankroll boost. But, on the other hand, even with a boost, should the market drop, the value of their cryptocurrency might severely decrease as well.
Playing and betting options
For the most part, crypto sites and traditional betting sites are on an even keel when it comes to the betting options provided. Both types of sites will offer a wide array of sports betting markets and casino games for players to enjoy. There’s no real difference.
The only place where betting sites offer a bit more is when it comes to casino games. This is because crypto sites also tend to offer crash games as an addition to their game libraries.
Are crypto betting sites worth it?
In addition to considering the above points, players should also consider the support, payment methods, and overall usability of the site. These types of considerations should also be implemented for any online casino, be it crypto or traditional.
Whether or not crypto sites are worth it ends up being down to the player. If anonymity is the main goal, then players are going to get that in spades. However, if it’s overall gaming security and protection, then regular traditional casinos are more likely to offer that, especially those licensed by more stringent jurisdictions.
The main takeaway is that there is nothing wrong with playing at a cryptocurrency betting site, should a player prefer it. Simply be mindful of responsible gambling protocols and manage the bankroll well.
