The inception of crypto platforms has changed the betting landscape significantly. Recently, it has become easier to acquire and pay in Bitcoin, inspiring a new wave of crypto betting sites. However, many newbie punters ask how these crypto betting sites compare to traditional online options.
It’s crucial to understand how cutting-edge Bitcoin platforms work to answer that. Then, we must also look at recent “traditional online betting sites” to compare the two fairly. If that’s what you seek, this article is all you need.
Here, we will analyze how the best BTC betting sites work, listing their characteristics. Then, you’ll learn about traditional online sites to set up a comparison. By the end of this article, you should be able to tell what’s better: traditional online sites or BTC betting sites.
What’s a BTC Betting Site?
A Bitcoin betting site refers to a betting platform that uses cryptocurrencies. Since crypto only came around lately, BTC betting is a relatively new concept, with the recent Bitcoin boom popularizing it.
At least, a regular BTC betting site should let users deposit in Bitcoin. It should also pay winnings in Bitcoin when some users inevitably record winnings after a betting session. Using BTC betting sites is a no-brainer for crypto enthusiasts that double as punters.
Before continuing with this article, it’s crucial to note that we’ll only consider the best BTC betting sites. Like traditional online sites, many BTC sites are mediocre, but this piece won’t represent them.
What’s a Traditional Online Betting Site?
With the advent of the internet, online betting sites were born, and today, most bets are placed on the web. Traditional online betting sites refer to online bookmakers that don’t necessarily market themselves as being crypto-oriented.
While crypto only came around in 2009, people have betted on online sites long before that date. The sites that offered them a platform are the traditional online betting sites. Most of them are still available, and this article compares them against crypto betting sites.
However, this comparison has a fundamental problem: the evolution of hybrid crypto platforms. The following section will explore hybrid crypto websites and how they make this argument problematic.
What are Hybrid Crypto Casinos?
A hybrid crypto casino accepts payments in both Bitcoin and fiat currency. It makes up the bulk of online sites available, closing the gap between fiat and crypto betting sites. The existence of hybrid crypto casinos makes it almost impossible to compare traditional betting sites and BTC betting sites.
Today, most users expect the average online platforms to accept payments in both fiat and cryptocurrencies. That setup offers the most flexibility to the customer who wants to play instead of worrying about the available payment methods.
To get the best of both worlds, always look for a hybrid crypto sites when finding an online casino. Since we’ve promised to compare traditional online betting sites to BTC betting sites, we’ll go on with that, but you’ve learned the article’s most important lesson already.
Differences Between BTC Betting Sites and Traditional Online Betting Sites
So far, this article has demonstrated that the line between traditional online betting sites and BTC betting sites is thin. That said, it’s only natural to find it somewhat demanding to draft the differences between the two.
Here are the most visible differences when comparing an online website that accepts cryptocurrencies exclusively to a traditional online betting site (that doesn’t).
- The currency
The most notable difference between the two categories of betting sites in question is the currency in use. While traditional online betting sites only accept fiat currency, BTC betting sites will only accept crypto. In any comparison, this would be the first and most visible difference.
If you hope to bet without attracting the government’s attention, a BTC betting site is your only option. Most crypto websites will require you to sign up and provide some information about yourself, but you can go deeper. If you want to bet anonymously on the dark web, you better have a Bitcoin wallet for transactions.
On the other hand, you can pay for traditional online betting sites using a credit or debit card that carries your name. While you can’t hope for anonymity with that, there’s a chance that you can recover your money if anything goes wrong, making players less likely to fall victim to scams.
- Provable fairness
One of the most marketed benefits of BTC betting sites over traditional online casinos is the abundance of provably fair games. Most crypto sites keep a house edge ranging from 0.5% to 2% on all their games since they have less overhead.
On the other hand, traditional betting sites frustrate players’ chances of winning with an excessive house edge. Also, users typically can’t verify claims independently, as most regular betting sites do not use open algorithms.
Are Best BTC Betting Sites Better than Traditional Online Betting Sites?
At this juncture, you might have decided which is better for you than the two options. BTC betting sites have their benefits, and so do traditional betting sites, but which of the two is better?
When you analyze most of the online sites available on the web, you’ll notice they all accept both fiat and crypto. You don’t need to switch your provider to transition from traditional currency betting to crypto betting. Recent developments make it pointless to put one above the other.
However, if there was a hypothetical betting site that only allowed you to use crypto, I imagine it would be inconvenient for a significant part of the population. The fact that virtually everyone uses fiat currency for their everyday affairs doesn’t help matters. In short, a hypothetical traditional betting site is still more practical than a regular online betting site, at least for now.
If you’re planning a foray into online betting and you’re wondering what’s better between both options, stop wondering. Research the most popular online websites you know and choose what you think is best. I’ll bet my last dollar that whatever you choose lets players deposit using both Bitcoin and debit cards.