5/14 Forever: The Synchronous Rise of Cryptocurrency and Online Sports Betting

It seems like just about everything is going digital these days. 

Cash is practically a thing of the past with banking going online and new mediums like cryptocurrency becoming more popular. Nowadays you never even have to leave your house and still order everything you would ever need right to your front door. Even the casino has moved to the digital world, with legal online sports betting becoming more widespread. 

Dimers.com contributor Andrew Baker explores the interconnections of the rising worlds of cryptocurrency and online sports betting.

It's said that a rising tide raises all boats. 

In this article we’ll focus on two big movers of this digital tide — cryptocurrency and online sports betting; how cryptocurrency is changing the world economy, the benefits of legal online sports betting, and some of the massive shifts culturally and economically these trends reflect.

Cryptocurrency Sports Betting: Top 5 Websites to Use in 2022 https://t.co/capI7xTdbb

— FootBasket™.com (@Foot_Basket) July 8, 2022

Cryptocurrency is an innovative form of digital money that uses encryption to regulate the creation and transfer. To put it simply it's a new idea for a currency that leverages this new technology called the Blockchain, but it's different from government issued currencies because there is no centralized control over it; every transaction must be verified by multiple computing systems connected to the Internet for them to go through. 

This currency on the blockchain helps protect users against fraud or other illegal activity —when compared to how cash works. Cryptocurrency has huge other benefits such as lower fees, quicker cross-border payments, instant transactional accounting, and in certain cases anonymity. Imagine placing your sports bet with someone across the world you’ve never met instantaneously with a cryptocurrency. This new technology has become more and more mainstream over the last decade, and the implications of it in the future are endless.  

What Is Cryptocurrency And How It Works? https://t.co/6MxF2B9Atb

— The Lazy Hub (@thelazyhubco) July 13, 2022

The world of sports betting has been around much longer than cryptocurrency. However, with the rise of the Internet, online sports betting, just like cryptocurrency, is starting to become mainstream. More and more states are legalizing sports betting, and that means there are more opportunities than ever for people to get in on the action. While there are still some lingering issues to be ironed out, the overall trend is clear: legal online sports betting is here to stay.

There are several reasons why people are drawn to online sports betting. 

For one, it's a great way to add an extra level of excitement to your favorite sport. Watching your favorite team compete is always fun, but placing a bet on the outcome can make things WAY more interesting.

With so many different options available (including BetMGM, DraftKings, FanDuel, and Caesars), there's something for everyone, and with online sports betting, you don’t have to hustle off to the nearest casino to place a wager.

Currently, none of these major sportsbooks offers wagering with cryptocurrency, but how long before that changes?

This new digital economy is having a profound impact on our culture. With more and more businesses moving online, we're seeing a shift in the way we interact with the world. We're spending less time face-to-face and more time connecting with people and businesses through screens.

This change is having several impacts on our culture. One of the most obvious is the way it's affecting our social lives. With fewer opportunities to meet up in person since the arrival of COVID-19, we're seeing a decline in traditional social interactions. This opens the door for online sports betting as an up-and-coming digital venue, of sorts, to network and socialize with new friends. 

The owner of a Melbourne Cup-winning horse is taking a punt on Cipher Sports Technology Group which hopes to crack the newly legal US online sports betting market. https://t.co/VgvBHnJMha

— Financial Review (@FinancialReview) July 13, 2022

The digital economic and cultural shift is also changing the way we work. With more businesses operating online, there's an increased demand for workers who are comfortable working remotely. New jobs in the digital world of online sports betting are about to flood in. The way these digital workers can be paid is changing, too. 

As digital workers can be from anywhere around the world, one nation's currency may not work for all of a company's employees. 

Cryptocurrencies have already begun to be used for payroll in some companies. The bettors will one day be from not just every state, but all around the world, too, and this relatively new form of currency will allow people to bypass traditional banking methods and place their bets in a more secure and anonymous way. 

As this technology becomes easier to use and online sports betting becomes more popular, do you think you’ll be placing your bets in dollars or Dogecoins? 

Click here for a list of sports betting websites that currently allow you to transact with cryptocurrency.

Free bets also can be a great way to shoot for a higher payout without risking your own bankroll. Check out the best ones in your state ➡️ here ⬅️.

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