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Ice hockey sports betting: Why is Bitcoin getting popular there?

08/12/22 · Reports · This is not a financial advice
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Crypto sports betting is becoming more popular with each day that goes by, and it’s no wonder why. While punters still buy tickets for the actual games at their local ice rink (though there are plenty who prefer crypto), this new way of paying for fun aspects like wagering on your favourite team has several important advantages.

In the crypto sports betting scene, Bitcoin (BTC) is among the top echelon of coins that a lot of punters rely on the most.

While beginners may still find it challenging to bet on their favourite sport using BTC, crypto payments are far more convenient for the entertainment businesses. Payment processing on blockchain is decentralized, it doesn’t run through an organization and therefore the business doesn’t have to worry about high “scrub rates”, or chargeback rates.

If there’s a sport in the world that can take advantage of Bitcoin betting right now, it’s definitely ice hockey. Reportedly, the social media sensation Pavel Barber is using Bitcoin on ice hockey teams and players.

Advantages of using Bitcoin in sports betting

There are a lot of benefits when using Bitcoin as your go-to coin when betting on the most exciting ice hockey games. If you want to win a lot of your wagers, then do so with the most reliable coin in the world!

  1. Initial deposit bonuses

    If you are looking for huge deposit bonuses, then you should go with Bitcoin. Sportsbooks are trying to incentivize people to learn handling crypto, as explained earlier, and the best tool for that are bonuses.

    To be quite honest, depositing using your conventional credit or debit cards at the sportsbook of your choice will most likely grant you bonuses as well.

    But if you deposit Bitcoin, the maximum limit tends to be loads higher and your sportsbook will most probably match 100% of your deposits giving you enormous bonuses.

  2. Top-notch privacy and speed

    Part of Bitcoin’s blockchain features is providing anonymous transactions, or “pseudonymous” as is the correct term. You are guaranteed that there is no third party involved in the transaction. That is what provides the anonymity and results in reduced fees.

    Also, crypto transfers go through on bank holidays just the same as on any other day.

  3. Lower costs

    Why do Bitcoin transactions cost less? The absence of a third party and other miscellaneous costs like salaries of accountants help make the transaction fees very cheap and even faster than the traditional financial intermediaries and institutions.

    The transaction costs often way less than what a bank would charge you, especially if you are depositing abroad.

Drawbacks of using Bitcoin in sports betting

The major bottleneck when it comes to adoption of crypto for sports betting is that a lot of punters get intimidated by new tech tools like Bitcoin. But that doesn’t really have to be the case. Instead, Bitcoin’s concept is actually quite simple.

Bitcoin is one of the many cryptocurrencies on the market. As a cryptocurrency, it is a decentralised digital asset that functions as a medium of exchange that provides a store of values. Bitcoin is considered as the highest valued crypto as it is one of the pioneers of the digital assets industry.

With a dedicated decentralised blockchain, Bitcoin can provide faster and more secure transactions that also provide anonymity when the value transfer carries over on the internet.

In other words, it’s perfect for online sports betting, especially if there are large sums of money are involved.

This also means that there are no central authorities controlling the process of how each transaction will take place since a network of users all take charge of the minting and distribution systems.

Ice hockey betting markets

Now that you have a solid foundation on why Bitcoin works so well in sports betting, let’s take a quick look at the ice hockey betting markets. There are several markets you can delve into when betting.

Below are some of the most profitable ones that you should take a closer eye on:

  1. Moneyline

    Moneyline bets are the most conventional types of markets seen across all sports. All you have to do is bet on who you think will win the game. If you wagered on the winning team, you win the moneyline bet.

  2. Goal spread

    Similar to the baseball run line, a goal spread is a betting market where you base your bets on which team you think will score particular sets of goals in a period. This is based on a 1.5 goal spread, where you can bet on either the favourites to lay 1.5 goals or the underdogs to do the same.

  3. Total goals

    Total goals are also easy to understand where you’ll just guess how many goals are scored by both teams added up. If you guessed the closest to the outcome of both teams’ scored goals, you win the wager.

Final words

As you can see, there is a lot of potential for you to win a ton of wagers when betting with Bitcoin on your favourite ice hockey team or player like Pavel Barber. There are several important advantages to using Bitcoin at a sportsbook. Now might just be the time to fully embrace your inner punter and win a ton of games while you’re at it!

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