FIFA World Cup 2018 Fever Begins: Will You Be Betting With Bitcoin?

June 18, 2018

The Russia 2018 FIFA World Cup fever has begun. This event is one of the most watched in the world, bringing together the best 32 country teams in the world. Each World Cup incorporates technological advances and, in the case of Russia, this is the novelty of the Video Assistant Referee (VAR) which will help the referees to avoid controversial plays. Sports bets are a large part of this competition and new in 2018, some online betting sites have incorporated Bitcoin as a payment method for users who have already incorporated cryptocurrencies for some of their usual financial transactions.

Advantages of using Bitcoin in sports betting

The Bitcoin technology, blockchain, offers numerous advantages that have been deployed in the financial industry, in well-known companies and in projects that, through Initial Coin Offerings (ICOs), finance their innovative projects. Bitcoin offers several advantages for the sports betting industry:

Instant funds for withdrawals or deposit: Bitcoin transactions are instantaneous and in some cases only take a few minutes to be confirmed, removing intermediary compensations of FIAT money which could take hours or days.
Low commissions: Bitcoin fees are currently less than $0.01. This allows online betting sites to offer low fees to enter bets and null commissions for transfer of funds.
Bets without borders: since Bitcoin is a decentralized cryptocurrency, bank commissions do not apply by exchange rate from one currency to another. In most cases, it does not apply restrictions of nationalities or residence of users.

Where to bet with Bitcoin?

To place bets in Bitcoin for this 2018 World Cup, it is important to take several factors into account when looking for an online betting site, such as reputation, customer support, if they are authorized or regulated and the types of bets they offer. Below is a list of betting portals that accept Bitcoin for betting during the 2018 World Cup:

mBit Casino: licensed Bitcoin casino and sportsbook site registered in Curacao.