Sports betting is arguably one of the most popular pastime activities. Not only is betting online popular, but it’s also easier than it ever was. With the rise of mobile technologies, and constant improvements being implemented to internet connections and security, it is nowadays even possible – and quite popular to bet on the go.

What’s more, finding the right operators and placing online bets is not the only thing that became so easy. Namely, paying for such services is also becoming more seamless, thanks to cryptocurrencies and their rapidly-growing acceptance.

But the fact of the matter is that online sports betting with crypto is still not legal in all the places in the world. And while you can easily find best Illinois betting promos if you search for them, you need to ensure that you can also make use of them. That being said, here are just some of the things you need to know about sports betting with crypto before it becomes legal throughout the US.

Betting with crypto is faster

Unlike any deposits or withdrawals made with fiat currency – which can sometimes take days to complete – crypto offers almost entirely instant transactions. Of course, how quickly the payment will go through will depend on the type of cryptocurrency used. And even though payments made with some of them may take a bit longer than some others, they will more or less take only a few moments to go through. Needless to say, this brings a huge dose of convenience for all online sports bettors, as all of us would like for our transactions to go through as soon as possible.

Betting with crypto eliminates third-party involvement

Since cryptos are entirely decentralized currencies, there really is no room – or need – for any third-party involvement. The transactions are completed between two crypto wallet owners alone. And while this certainly contributes to the overall efficiency of cryptos, and it significantly boosts their appeal, you will still need to be careful. As these transactions do not involve a middle man, any potential mistakes made with these types of transactions are almost irreversible. So, if you happen to deposit your cryptos into a wrong wallet, the only way to get them back will be to ask the wallet owner nicely and hope that they’ll be willing to comply.

Betting with crypto – legal status

And as the title itself suggests, betting with cryptos is not yet legal throughout the US. So, until the legal status changes, you’ll need to make sure if you can use cryptos legally to bet online before you even consider trying it out in the first place.

Source: Plato Data Intelligence: PlatoData.io