How Does Anonymous Crypto Betting Work?

How Does Anonymous Crypto Betting Work?

logo
Updated on: November 30th, 2020 2020-11-30 15:20:04
This content has been Fact-Checked.
Betting online in the traditional way can lead to several issues. For one, it is often required for customers to provide their name, bank details, and even a form of valid ID before you can legally pl

Betting online in the traditional way can lead to several issues. For one, it is often required for customers to provide their name, bank details, and even a form of valid ID before you can legally play. This then, partially explains why there has been such a growth in anonymous betting in recent years. 

Using cryptocurrencies and other secretive forms of payment has allowed people to maintain a real sense of privacy when it comes to gambling, much more than they were afforded previously. But how is this change in the industry impacting it, and just how successful has it been thus far?

Many of you won’t mind having to give some of your personal details to a gambling site. After all, it’s part of the trade-off, as often, the ones that ask this of you are also the most open when it comes to business practices. But others won’t be so willing to divulge such details, and to that group, the idea of betting anonymously is tremendously alluring. This is a more than reasonable opinion, and once a betting company knows your habits and preferences, they can use it to their advantage in the future. 

Crypto betting, however, does nothing of the sort. A cryptocurrency anonymous money transfer to your bookmaker of choice means that you only have to hand over two pieces of salient information: your anonymous wallet details, and the bookmaker’s wallet details. With this, there is simply no need for real names, bank accounts or ID’s – leaving you free to gamble without fear of your privacy being violated. If you fancy getting started, the best and most trusted blockchain sport betting sites can be found here.

But which, out of the many available, is the most anonymous cryptocurrency? Well, Bitcoin is certainly king in this department, as the oldest and most well-known on the market. In addition, there is also DASH, Monero, ZCash and Verge, all of which are great options for gambling anonymously. As ever, be cautious when it comes to Crypto’s, as some will be less than reputable, or perhaps simply too new to avoid wild fluctuations in value. 

Is Anonymous Crypto Betting Safe?

To put it simply, it comes down to the individual sites and bookmakers that you use Megapari. Make sure that they are properly licensed and regulated, for if they aren’t, you’re massively rolling the dice. A number of countries around the world legally give out licences to bookmakers, regulating all of their services as they do so. In that regard, always look for a marker or a notifier as to which nation or body the bookmaker has received its license from. 

When betting with a licenced operator, you can rest assured knowing that they have passed a number of tests to get there. When placing bets, you want to be as relaxed and comfortable as possible – it is meant to be fun after all. The last thing you want is to be taking a chance on a site or company without the proper documentation. 

Anonymous Crypto Bookie vs Regular Bookie

For anyone who is on the fence about switching over to an anonymous or crypto bookie, here are just some of the reasons why you should consider doing so. Firstly, the industry as a whole has improved greatly in recent years, to the point where crypto and blockchain bookmakers are wholly more trustworthy than they were previously. This includes technological advancement, which has come on leaps and bounds in this particular arena. They can now provide a service that is comparable to that of the regular, more established bookmakers. 

This is excellent news, as we are still very much in the embryonic stage when it comes to crypto/blockchain technologies. For many of these sites to already be matching their more established peers is a very good sign moving forwards and speaks to an industry and movement that is very much on the up. If such rates of improvement continue, there is every chance that we see such bookmakers overtake their traditional counterparts to become the predominant betting platforms. 

Of course, it must still be stated that traditional bookmakers still have their place and do maintain certain advantages of their own. For starters, you know exactly what you are getting. Brand recognition and familiarity are crucial when it comes to who dominates the market, and with so many traditional bookmakers, you know exactly what it is that you are getting and that the odds you receive are fair and justified.

Further to this, traditional bookmakers also maintain a more casual user base, which, depending upon your preferences, could be to your liking. Anonymity is a two-way street, and unfortunately, a cloak of invisibility will attract some customers with nefarious intentions.

Despite this, the scales are most definitely tipping more towards anonymous bookmakers. In a world where privacy is seemingly disposable, the chance to claw that back – as temporary as it may be – is massively appealing. With crypto soaring in value and gaining ever more trust from the mainstream, now seems like the perfect opportunity to explore such innovations. 

Betting is all about finding the best possible service for yourself; by securing the best odds available, from an array of markets, with a few pleasant bonuses along the way to sweeten the deal. If anonymous bookies can provide such perks, they won’t go far wrong over the coming years. If we begin to see that all of these things are better with crypto bookmakers than traditional bookmakers, then we could be on the precipice of an industry revolution. 

Crypto has been an accepted form of payment within gambling for a long period of time now, so there is already a good degree of brand familiarly with many of the market leaders. If things continue as they are, cash and bank transactions could become a thing of the past within this realm. 

 

Andrew Zapotochny
CEO at BlockGeeks

Like what you read? Give us one like or share it to your friends and get +16 bl

0
Please to comment
Hungry for knowledge?
New guides and courses each week
Looking to invest?
Market data, analysis, and reports
Just curious?
A community of blockchain experts to help

Get started today

Already have an account? Sign In