When done right, cryptocurrency can rapidly improve the way we make bets. By offering several benefits that will positively impact the industry, it becomes easier, faster, and more secure for bettors to partake in their favorite pastimes with a great chance of success.
In our experience, we realize that sports betting and cryptocurrency have a very positive and unique relationship. Although many aspects and features of the union are still being ironed out, so far it’s been green lights all the way.
Scorefam is a platform that greatly embodies this relationship. Take, for instance, our unique earning models that help segment users’ risk by their appetite for it. This feature doesn’t exist in traditional betting and so losses are a constant in them.
Let’s take a look at other positive features that best connect cryptocurrency to sports betting on Scorefam.
Asset Safety & Increased security: Assets such as finances, and personal information must be safe and secure in online sports betting. But sadly, that is not the case. But with cryptocurrency and the power of the blockchain, bettors are introduced to a more secure solution as it eliminates the need for intermediaries and reduces the risk of fraud and hacking.
Swift transactions: Cryptocurrency transactions are processed in a matter of minutes, as opposed to traditional payment methods that can take days to clear. Scorefam’s recent upgrades double down on the need for speedy transactions. A faster transaction time means that bettors can quickly place bets, receive winnings, and access their funds without waiting for lengthy processing times.
Investment Option: Depending on what coins/tokens you use or make bets on, you’re actively investing as these coins/tokens tend to increase in value as market price rises. Unlike traditional betting which has no option for growth, cryptocurrency adds an extra layer of profit to your bets.
Improved accessibility: Several countries restrict their citizens from participating in sports betting or gambling of any kind but with cryptocurrency, you can bypass these biased laws. Cryptocurrency allows for easy, borderless transactions. Additionally, individuals who don’t have access to traditional banking systems can use cryptocurrency to participate in online sports betting.
Enhanced anonymity: Cryptocurrency transactions generally don’t require your personal information, because it offers a high level of anonymity, which can be appealing to those who prefer to keep their betting activities private and keep their information safe.
To sum it up, cryptocurrency and betting are a match made in heaven. As the crypto industry continues to improve how we use money, the next logical step in this proliferation was bound to be the sports betting industry. With its asset safety & increased security, faster transactions, improved accessibility, investment option, and enhanced anonymity, cryptocurrency has the potential to revolutionize the way we approach sports betting. These features are a staple in the Scorefam model and we believe that this can be a turning point that gains mass adoption not just to the crypto sports betting industry but to the web3 industry as a whole.