Modern global trends affect all spheres of life, and betting is no exception. The ever-increasing popularity of cryptocurrencies has attracted bookmakers’ attention, and many platforms have already integrated this payment method. Cryptocurrency bets are convenient for advanced users who do not want to use banks and credit cards. You can find a detailed description of payment methods accepted by Nigerian bookmakers on betting-africa.ng. This review will look closely at Nigerian betting platforms offering users cryptocurrency bets.
Reasons for Crypto Betting Popularity
The bettors themselves, answering the question about the rapidly growing popularity of cryptocurrency bookmakers, first call for a high level of security. Blockchain allows you to distribute digital coins using smart contracts. When creating a coupon, such a contract is automatically generated. It describes in detail all the conditions in accordance with the possible outcomes of a sporting event. If the prediction turns out to be correct, the client receives a win. Otherwise, he loses the amount of the bet. A third party cannot interfere in this process.
You also need to take into account the high level of volatility. After making a deposit, the price of the coin will drop significantly. However, in the long term, most cryptocurrencies show steady growth. Therefore, their high volatility is increasingly seen as an advantage rather than a disadvantage.
Crypto betting has other strengths:
- Replenishment of the account and withdrawal of funds are carried out anonymously. It is almost impossible to track transfers;
- Payments are processed instantly. There is no hold after the end of the event. Based on the results of the matches, the winners are determined who receive the winnings;
- Bookmakers’ clients are guaranteed payouts if their forecast is successful since this condition is fixed in the smart contract. It cannot be removed or changed;
- In the long term, the value of popular cryptocurrencies grows. Investors who invest in digital coins receive passive income;
- Cryptocurrency networks offer minimal fees when compared to banks or electronic payment systems.
About 1% of all sports bets are made in cryptocurrencies. More than 80% of coupons are created using popular coins: Bitcoin, Ether, and Litecoin. Analysts are confident that the share of crypto betting will gradually grow since this progressive direction offers many undeniable advantages. Many bookmakers are actively trying to add support for digital assets.
Nigerian Crypto Betting Platforms
Betting in Africa is developing quickly, and top bookmakers are already offering their users to place bets in cryptocurrency.
1xBet
It is undoubtedly the best bookmaker offering crypto bets in the Nigerian market. The platform is well-known worldwide, characterized by a large sportsbook and casino selection. The service has an incredible amount of fans. Payments in all popular cryptocurrencies are available to users, so you will not have problems with replenishing your account and withdrawing funds.
The main advantages of the service:
- Huge selection of sports to bet on
- Excellent choice at the casino
- Accepts all popular cryptocurrencies
- Great promotions and bonuses for both sportsbook and casino
If you are new to the betting world, start with this platform. Here you will get excellent conditions for betting and the ability to pay in a cryptocurrency convenient for you.
Betwinner
On this one, you can bet on various sports, such as football, basketball, tennis, volleyball, cricket, and eSports competitions. Users can make payments in multiple cryptocurrencies, such as Bitcoin, Ethereum, TRON, Litecoin, Dogecoin, etc. The betting company BetWinner provides many side bets on a specific event in many sports: European handicap, correct score, game progress, over/under, which team will score the first goal, etc. The choice of bets on international matches at the club level or national team level for each game is also quite large.
The main advantages of the service:
- Large selection of markets and events to bet on
- Great welcome bonus
- Convenient and friendly interface
- Fast deposits and withdrawals
Regarding the convenience of using cryptocurrency for betting, this bookmaker is on par with 1xBet.
1xBet
1xBit is a popular online sports betting company that accepts various cryptocurrencies as payment methods, including Bitcoin, Ethereum, Litecoin, and many more. It offers different sports markets, including football, basketball, tennis, and eSports.
The main advantages of the platform:
- Live betting
- Excellent section of the casino
- Many accepted cryptocurrencies
- Good selection of sports for betting
If you prefer to use crypto for betting, check out this bookmaker.
Conclusion
Blockchain technology is actively developing. The natural stage of its evolution was the emergence of the DeFi industry. Within the decentralized finance segment, not only DEX exchanges grew, but also crypto betting. Through smart contracts, bookmakers can fully automate the process of paying out winning bets, ensuring the complete anonymity of their customers.
Every day there are more and more bookmakers accepting cryptocurrencies as payment. You can deposit, withdraw your winnings, and place a bet using digital coins. This article reviewed three Nigerian bookmakers that have already implemented this technology. Soon, their number will increase.
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