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How do sportsbooks work in crypto?

As time passes and technology advances, traditional casinos are being replaced by their digital counterparts, and money itself follows the trend.

Yet, the gambling sector has proven to be one of the most dynamic entertainment industries globally, leading to a sea change in the online casino world. 

Even the figures solely seen in sports betting might reveal a lot about the shift. Now, the sports betting business’s annual revenues are between $700 billion and $1 trillion worldwide.

And when it comes to implementing new technologies, gaming has always been at the forefront. 

Thus, the online gambling industry is rapidly evolving, and casinos and sportsbooks have quickly adopted new platforms and technologies to stay up. 

Over the last several years, several new gambling establishments and sportsbooks that accept cryptocurrencies have appeared. Online casinos are constantly improving thanks to the addition of new games and features available at almost all of them. 

But what exactly sets the crypto casino apart from the rest? 

Over three-quarters of the world’s total payments, or more than $400 billion, are made in Asia. 

And the rising popularity of online sports betting has led analysts to predict that by 2023, the internet gambling industry will be worth $93 billion.

In 2021, the market capitalization of all crypto gambling surpassed $2 trillion, marking a new all-time high for the industry, according to an article made by BusinessInsider. But it won’t stop there. 

Customers enjoy several advantages to crypto betting, including privacy, anonymity, a wider selection of games, lower costs, and a more streamlined experience. 

All the money and game control are not held by one single entity but rather by many parties, thanks to the decentralized nature of crypto gaming.

This makes the company more secure from government interference and opens up the possibility of profit sharing with customers. 

The ability to participate in crypto betting from any location in the world is perhaps the biggest difference between this type of gambling and more conventional forms of crypto gaming.

As long as both parties have access to the internet, there are no political or geographical boundaries regarding wagering in the cryptocurrency market. 

Top 3 gambling sites that use cryptocurrency 

Fewer platforms have made the change; however, the following are among the most popular ones that do provide such features:  

1. Fonbet

For over two decades, Fonbet has been one of Eastern Europe’s most trusted online bookies. The company was established in 1994 and has been operating online since 2002.

Because of these factors, it has been ingrained in players’ minds and the format they choose.

You can discover all available sports, a wide range of betting markets, daily specials on the most popular games, excellent odds, and a straightforward website or mobile app. 

Also, Fonbet offers an intuitive mobile app with all the features available on the website’s desktop client.

Personal information and financial transactions made with Fonbet are safe and secure because of the strict protocols in place.

2. Cloudbet

The most trustworthy online cryptocurrency gaming site. This is the best gambling site for sportsbook enthusiasts. Bets may be placed on many different games and sports on this site.

In addition, it’s one of the few crypto casinos that really take the over 125 various cryptocurrencies that exist today. 

Despite its primary focus on sports betting, Cloudbet offers various live dealer table games. Choosing the best cryptocurrency casino is next to impossible without addressing the issue of how to make deposits and withdrawals. At Cloudbet, customers are free to withdraw as much as they win.

3. FortuneJack

Founded in 2014, is operated by the Nexus Group, a small yet respected firm. This specific desktop site of the casino has been optimized for use on mobile devices, so it’s not just a pretty face.

When it came to online casinos, FortuneJack was an early user of cryptocurrencies. 

Even back when cryptocurrencies were just a footnote in the news, it was clear that their creators were plotting something.

In addition to a vast library of games and a top-notch sportsbook, FortuneJack supports several cryptocurrencies, provides provably fair live table games, and provides unrivalled customer care.


Compared to standard sportsbooks, crypto sportsbooks come with several extra perks, such as freebies and discounts not available at traditional bookies.

Gambling with cryptocurrencies is the same as gambling with any other form of capital. On the contrary, you continue to wager on the same results. 

While many see the possibility of profit in crypto gambling, others who like betting on esports may find it an exciting new arena.

Regardless of where you stand, always remember to do your own research and only play with money you can afford to lose.