As we prepare for the Euro 2024 tournament, the online betting world gears up for a surge in sports betting activity,
Amidst this growth, the worldwide betting industry is also witnessing a significant shift towards cryptocurrency as a preferred payment method. Recent data reveals that 65% of new sports bettors are now choosing crypto betting platforms.
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With nearly a quarter of all UK football fans (23%) placing a bet on football in the past year, the crypto betting experts at BitEdge have highlighted their expert advice for the essential cryptocurrency sports betting strategy for 2024.
Leveraging their expertise, marketing manager Josip Putarek at BitEdge, explains this in more detail below:
“The first step is finding a trustworthy site, as this will affect your betting experience. Do this by checking to see if the site has SSL encryption and two-factor authentication to protect your data and funds. Reviews online can also verify their security track record.”
“We then advise that you research the sportsbook to ensure it offers a wide range of betting markets for Euro 2024 matches, including all participating teams and key matches, with competitive odds. Look for sites offering special Euro 2024 bonuses, such as tournament-specific promotions to enhance your betting experience.”
“On top of this, researching sportsbooks allows you to be more aware of the different fees and conversion rates which can vary significantly. Choosing a bookmaker with lower fees can lead to substantial savings over time.”
“Check player reviews on platforms like Trustpilot to gauge overall satisfaction, especially regarding payout speeds and customer service during high-traffic events.”
“Know Your Customer Concerns” also links to this. Many cryptocurrency sportsbooks have less stringent KYC requirements than traditional bookmakers, which can be appealing for privacy reasons. However, it’s essential to ensure that the bookmaker you choose is properly licensed to avoid potential legal issues.”
“If you plan on attending live games in Germany, failure to use licensed platforms risks prison sentences of up to 6 months as well as penalty fees which depend on the severity of the case. If you are simply out watching the games with friends back in the UK, we recommend that you test the user experience on mobile. The payment flows and betting features should be simple and quick, helping you have the best experience.”
“Be mindful of the price volatility of cryptocurrencies. The value of crypto can change rapidly, even during live games, so it’s important to monitor the price fluctuations as this can impact your potential payout.”
“When choosing which cryptocurrency to bet with, it’s advisable to use a token that you already hold or plan to hold for the duration of the tournament. This minimises your exposure to price movements, allowing you to focus on the actual betting rather than the fluctuating value of your crypto.”
“Considering all this will help you understand and improve your bankroll management when using crypto for bets throughout the competition. Since bets are in milliBitcoin (mBTC), it can be tricky to keep track of how much you’re wagering if you don’t convert your money first. However, by managing your bankroll well and following these tips, you’re not just aiming to win bets, you’re also potentially increasing the value of your holdings by holding onto cryptocurrency.”
Disclaimer: Cryptocurrency betting involves financial risk. Only wager what you can afford to lose. This guide is for informational purposes only and should not be considered financial advice. Always gamble responsibly and research betting sites thoroughly before using them.
About BitEdge:
Founded in 2009, BitEdge is a crypto sports betting website dedicated to giving users the premier crypto betting experience. Using the latest technology, BitEdge aims to provide vital information to readers through easy-to-understand and accurate resources on everything from the newest sportsbooks to the latest betting methods.
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