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All You Need to Know About Bitcoin Cricket Betting: A Quick Guide!

Cryptocurrencies like Bitcoin have definitely risen high on the charts. With time, people have become reluctant to use traditional payment methods and are engrossed in the digital world. How people communicate, relax, bet, play, gamble, and make payments has changed considerably.

Keeping this trend growing, many online cricket betting sites have started to offer Bitcoin and other major cryptocurrencies as a preferred payment method. To keep things easy for their customers is their prime motive, and to help beginners understand how online Bitcoin cricket betting sites work, we have provided this quick guide that talks about the advantages of betting on cricket using Bitcoin, a few important terminologies, and how to place a bet on the same.

Why Use Bitcoin For Cricket Betting?

There are several compelling reasons for Bitcoin cricket betting. Here are some key advantages that make Bitcoin an attractive option for enthusiasts:

Global Accessibility

Compared to traditional payment methods, such as debit or credit cards, or bank wire transfers, Bitcoin allows punters to make deposits in online sportsbooks, even if they reside in areas where gambling or betting is illegal. 

Faster and Cheaper Transactions

Since Bitcoin transactions occur on the blockchain network, they do not take much time to process the payments, and the transfers happen almost instantaneously. This also means players can send Bitcoin to any part of the world within just a few minutes. Additionally, the decentralization of Bitcoin transactions eliminates the need to have any central regulatory authority to monitor the transactions. The absence of any third party, such as the government, financial institutions, or the bank, makes the transactions faster and cheaper. Also  the transactions have no fees attached.

Safe and Secure Transactions

Transactions made on online BTC cricket betting sites are not monitored by any central authority or bank since they are carried out in a decentralized peer-to-peer method. Hence, Bitcoin transactions cannot be counterfeited or duplicated. Additionally, unlike traditional payment methods, Bitcoin transactions do not require players to provide sensitive information, such as payment details. Hence, there is no way one can steal financial information from the Bitcoin cricket betting site.

Anonymity and Privacy

Another reason Bitcoin cricket betting sites are the most preferred platform over traditional sportsbooks is that bettors can enjoy anonymity which is an important factor for those who want to keep their betting activities private.

Some Bitcoin Cricket Betting Terminologies

There are a few interesting terminologies or jargon to consider before joining any online BTC crypto betting sites – 

Outright Winner – Irrespective of the cricket tournament, bettors can choose which team will win the league or competition outright. 

Player of the Tournament – A popular pick in competitions and leagues across the best Bitcoin cricket betting sites is to select and bet on the player of the Tournament. The selection can be a bowler, batsman, or in rare circumstances, a wicket-keeper who is just the top overall performer. 

Match Outright – Betting on the team winning the match outright is called Match Outright. 

Draw No Bet – This is an alternative to cricket betting with BTC on a Match Outright. If a bettor backs a Draw No Bet, he earns winnings if the team is victorious, but if the match ends in a draw, a return of stakes takes place. 

Double Chance – Double Chance is another way of betting on a match’s outcome using Bitcoin. This is where two of the three options (away win, home win, or draw) are selected in a single bet. 

To Win The Toss – This simple proposition bet involves choosing a team to win the toss ahead of the match. 

Man of the Match – In this, the bettors simply bet on the player they think will be the top performer of the overall match. 

Top scorer/bowler – Many online BTC cricket betting sites also allow players to bet on the key scorer or a bowler who will get the top score or sweep up the most wickets in the entire cricket match.

How to Place a Bet with Crypto on Bitcoin Cricket Betting Sites?

To start placing bets with Bitcoin and other major cryptocurrencies on the best Bitcoin cricket betting sites, players must ensure that they have funded their crypto account or wallet. 

Choose a reliable cryptocurrency wallet and enter the required information. A digital ID will be designated to the players required whenever they want to unlock their accounts. 

Head to the payment section to choose a preferred cryptocurrency. For this, players must have some funds in their crypto wallet to transfer their money to a preferred sportsbook. 

Buy some crypto tokens from any reliable crypto exchange. Within a few seconds, the digital wallet will get funded. However, note that Bitcoin is still the most preferred crypto coin by most bettors on BTC cricket betting sites. However, players can experiment with other major cryptocurrencies to find the one that best suits them. 

After funding the digital wallet, it is time to choose a reliable BTC cricket betting site well-curated after thorough research. Make sure that the chosen betting site is licensed and regulated and also offers the sporting events that the players wish to play or bet on – cricket and others. 

Make a deposit after registering with the platform. Choose Bitcoin or any other crypto to proceed ahead. 

Choose any cricket or other sporting event to start betting on and win big. 

Conclusion

In conclusion, Bitcoin was launched on the internet and was specially developed for online use. Digital currency makes it a perfect solution for online cricket betting sites. The costs, inefficiencies, and sluggishness of traditional payment methods have made Bitcoin and cryptocurrencies popular among sports betting enthusiasts. The optimization and decentralization of Bitcoin transactions have eliminated the need for credit card companies, payment processors, and banks, guaranteeing a relatively high degree of security, ease of use, efficiency, and privacy. 

However, it must be noted that cryptocurrencies like Bitcoin are highly volatile, and it is recommended that players gain extensive knowledge and understanding about cricket betting with Bitcoin before getting started with their cricket betting journey and enhancing their gameplay using Bitcoin.