July 22, 2017

Bitcoin Betting: Sportsbooks are innovating, attracting even more sports fans

2017/06/05 7:59 am 7:59 am7:59 am0 0 comments

How Sportsbooks Are Developing To Attract Even More Sports Fans Sportsbook is the term used to describe the establishment that allows people to place bets on sporting events, and the ultimately pays out winnings based on the odds.

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The popularity of basketball is staggering, and it’s growing especially with the powerhouse NBA Finals between the Cleveland Cavs and Golden State Warriors.

Basketball is actually one of the easiest sports to place bets on, whether this is through the points spread, total bets, parlays, or money line bets. There’s a lot to learn about placing bets with basketball, but one of the things that we are beginning to see in the online sports betting world is the development of sportsbooks.

There are a number of different ways sportsbooks are beginning to attract even more sports fans, in particular basketball fans – many of whom are located in the US where sports betting is heavily restricted, and here we’re taking a closer look as to how.

Availability Of Sports

The availability of sports around the world has helped sportsbooks to become even more popular. Basketball is one of the most popular sports in the world, but it is generally publicised in the US, where online gambling and sports wagering is heavily restricted/illegal. Nevertheless, countries like Latvia, Lithuania and The Phillipines see basketball as their most popular sport. With the help of Kobe Bryant and LeBron James helping to boost the popularity of the sport, sportsbooks are beginning to adapt to attract even more sports fans than ever.

Basketball is growing in popularity around the world not only with the help of the superstars and increased marketing efforts within the sport, such as the introduction of the Professional Basketball League in Canada in 2012, but also due to the fact more people are able to be exposed to the sport. While it is likely that football will also be the number one choice in popularity around the world, this availability could see basketball close the gap dramatically.

Bitcoin Sportsbooks

An increase in technology, and especially crypto-currency, has led to a rise in Bitcoin sportsbooks.  Bitcoin sportsbooks are attracting the attention of a lot of bettors and investors. The value of the Bitcoin has been soaring over the past few months and the sports betting world appears to be capitalizing on this by ensuring people are able to place their bets in a secure manner, anonymously and benefit from fast transactions.

This is of particular importance to countries like the USA, as while there are very strict gambling restrictions in the country that prevent basketball fans from placing bets on their favorite NBA teams, the anonymity of the Bitcoin can help to hide the identity and location of the person placing the bets. While this is an extremely dubious way of betting, Bitcoin sportsbooks does help to make it possible for those looking to remain anonymous when it comes to placing their bets on their favorite sports.

This is not only through the cryptographic nature of the Bitcoin that allows the currency to remain pseudo-anonymous. This is also through the fact that Bitcoin sportsbooks do not require any form of personal data and identification when it comes to signing up for the accounts – because the Bitcoin wallets take complete care of the verification and security side of things due to the public and private keys.

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Fast transactions are also an extremely important factor of Bitcoin sportsbooks, as a huge number of sports fans and bettors will want their cash deposited quickly and their winnings almost instantly. A number of regular online sportsbooks can take a number of days to validate and put the winnings into the accounts.

New Ways To Bet

The use of mobile phones for sports betting opposed to desktop has been growing, and this is helping to build a network of new ways to bet for people who are searching for an alternative option to simply heading into a sports shop. This is more often seen in the UK, but the new ways to bet that are opening up around the world, is helping basketball to grow in prominence.

If people are able to easily access information about the sport, and place bets on the sports, then the chances are, more people are going to be interested in the sport and keep up-to-date with the latest news. The convenience of things like mobile apps are helping people to become involved in a much deeper capacity with the sport.

The e-Sports community

The popularity of e-sports over the past few years is an extremely important development for the basketball industry. While this is often seen in shooting games and with games like FIFA, the NBA video games could very quickly adapt to be played on a more competitive level. In fact, the NBA eSports basketball League is set to launch in 2018, with a partnership with Take=Two Interactive. There’s a lot of opportunity for the NBA to tap into the gamers that are flocking towards eSports, and develop something suited to the young and growing eSports community. This is a great opening for sportsbooks to expand their audience too, helping them to reach a new type of community.

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