After drugs, gambling is the second most commonly associated vice with cryptocurrencies. Although Bitcoin has many applications, it is no coincidence that Satoshi Dice was the first "killer application" for Bitcoin gambling . Due to the fact that the cryptocurrency has a national character, is suitable for cross-border money transfers and is anonymous, it is perfect for settlements in online casinos. Many bookmakers and casinos accept digital currencies such as BTC, BCH, ETH and DASH. There are dozens of platforms that exclusively accept cryptocurrency.
It is difficult to estimate the size of the sports betting market in the United States, but it is believed to be in excess of $ 80 billion a year. For US players looking for opportunities to bet on their favorite sports, various foreign sites provide an opportunity to fulfill their desires. However, using a credit card for such purposes increases the risk of data disclosure and loss. Cryptocurrencies can mitigate some of these risks, but customers still have the right to log into a centralized online betting platform and disclose their personal information.
Decentralized commercial forecasting is an alternative direction that is starting to gain traction. It is not intended for gambling, in fact it acts as a surrogate bookmaker, allowing cryptocurrency holders to place bets on outgoing sports events.