The majority of Americans cannot currently wager on sports via the internet in their home states. The Interstate Wire Act also prohibits sports bettors from one jurisdiction from legally placing wagers with sportsbooks in another state online. However, they are permitted to legally wager with foreign bookmakers who operate outside of US law.
The only challenge is funding your international sports betting account. The UIGEA statute has the potential to flag credit, debit, and conventional bank transfers, preventing you from adding funds to your betting account. However, no legislation, not even the UIGEA, has the power to stop a Bitcoin sports book from accepting deposits.
Offshore betting is acceptable, secure, and easy with Bitcoin. However, in order to utilize Bitcoin as a financial option for sportsbooks, you must first purchase some of the cryptocurrency. Fortunately, you can now do this directly through the PayPal app (though there is a catch at launch – see below). If you feel inclined, your first wager should be on Bitcoin sports betting. Our brief crypto guide will help you start using Bitcoin (BTC) and is not cryptic at all!
The world’s first, most widely used, and most valuable cryptocurrency is called Bitcoin. It is frequently accepted at sportsbooks with quick payouts. BTC is solely responsible for launching not only the cryptocurrency business but also the new encryption technologies that have been embraced by the world’s largest financial institutions. This is because it was the platform that first offered the ground-breaking cybersecurity concept of the open ledger blockchain.
The most valuable and secure form of money ever, bitcoin runs on a completely free market. Bitcoin is completely unregulated by banks or governments, and it can be freely moved between private individuals in a safe and secure manner.
The value of the Bitcoin market is above $850 billion as of Q1 2021, and one Bitcoin token is currently trading for more than $45,000. It is true that some detractors claim Bitcoin is gambling, which makes it all the more appealing to sports bettors. But given that each Bitcoin was worth far less than a penny when the network first started in 2009, it has been an absurdly safe gamble.
It was essentially designed for Bitcoin to make gambling easier and more lucrative for those who are just starting out. We’re just residing in the future of Bitcoin right now.
Is it acceptable to use Bitcoin to fund online sports betting?
Yes! Bitcoin may be used to pay for any legitimate activity you love, including online sports betting. That your merchant or service provider actually accepts the goods is the only requirement.
You may rest easy knowing that when you fund your account with BTC, you are in complete compliance with all applicable laws because the best online sportsbooks all accept Bitcoin and actively encourage their customers to do so.
The blockchain network eliminates all governmental and banking middlemen, which is the best part about how Bitcoin sports betting deposits legally avoid federal UIGEA banking limitations. It’s a free market, it’s a free country, and utilizing Bitcoin even entitles you to free bets online!
If you want to throw down some action on NFL games this fall then Bitcoin may be your best funding option. Free football picks can be found around the web and there is no limit to how much money you can move using cryptocurrency.