Similarities & Differences Between Crypto Sports betting and Crypto Casinos
There’s been a surge in crypto betting around the world, as cryptos have found the approval of the players and operators. With the robust advantages of digital currency, betting has been made a lot more innovative. A lot of casinos, bookmakers, pubs, poker rooms, and even arcades are gladly opening their doors to crypto players.
As a result, some crypto betting enthusiasts might easily misunderstand these betting activities to be the same. It has become necessary to explain what crypto sports betting and crypto casinos have in common and their points of divergence. After reading you will be able to choose the best crypto casinos and play smoothly.
What is crypto betting?
Just as the name implies, crypto betting is the activity of staking real cryptocurrency on an event or game. The cryptos you can stake depends on the available ones on the platform and your preference. The most popular cryptos for betting are bitcoin, ethereum, ripple, bitcoin cash, dogecoin, tether, PaxG, and so on. You can bet in either casino, sports betting sites, instant lottery sites, among others. The gameplay is the same with fiat currency casinos and sportsbooks, with the only difference being the currency of staking.
Similarities of crypto casinos and crypto sports betting
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Pastime activity
You can ease your stress and relax your nerves playing in casinos or on sports betting sites using any crypto of your choice. This has been the norm for many players, as they find it easy to unwind with these activities. It is even more exciting to players who are really bored and want some interesting activity to invest their time in. The great thing is that players don’t need to leave their homes to catch this pastime fun.
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Risks
The fun in both crypto casinos and crypto sports betting is constant, but the risk is also constant. Both are betting activities and essentially have some risks surrounding them. You can win more money and you can also lose the money you staked in the first place. This is because some element of luck and chance is always present in both activities. This is what you must understand before choosing any of them.
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Research before a decision
Another striking similarity between crypto sports betting and crypto casino has to do with research. You must take some time to research and understand how they both work before playing for real money. The reason for this is so you don’t make a fatal mistake that would cost you your money. It’s always best to search the internet and dig up some useful information about both activities, and luckily we are here for that.
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Cryptos are involved
You probably have thought of this one. You will be able to stake in cryptos and also earn your wins in cryptos. This has been the fulcrum of crypto betting, and you will get to enjoy fast transactions using cryptos, such as instant withdrawals and little or no withdrawal fees.
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Special bonuses and promotions
This is one part that excites many players. You can get special bonuses and promotions when you play on crypto betting sites and crypto casinos. You only need to create an account and deposit with this banking method. However, this may not be offered on some crypto betting platforms. So you have to take some time to search for the platforms that offer these bonuses.
Differences between crypto sports betting and crypto casinos
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Games
Crypto casinos offer typical casino games you’ll find on both land-based and online casinos. These games include different variants of slots, video poker, roulette, baccarat, blackjack, keno, bingo, scratch cards, craps, live games, and more. On the other end, crypto sports betting involves predicting the outcome of actual real-life sports events, including football, basketball, baseball, tennis, horse racing, golf, Formula 1, volleyball, American football, among others. You have to bet on markets in sports betting, with odds showing what you can win.
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Strategy
Some casino games like blackjack and roulette require some level of strategy to help you get some edge in the outcome of the game. These strategies have to do with casino in-game play. However, since crypto sports betting has so much to do with real-life sports events and esports events, a betting strategy doesn’t have to do with in-game strategies of winning.
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Cashout option
Cashout allows a crypto sports punter to withdraw money even while their bet is still running. The withdrawal could be complete or partial and will permit the player to get a sum lower than what they would ordinarily win. However, you won’t get a cashout option in crypto casinos; you only stake, play your games and either win or lose. Hence, you stake on a casino game and play out your rounds without any option of withdrawing any cash before the game ends.
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Game time
Crypto Sports betting takes more time to be decided since the games are played using a particular set of minutes or even hours. The only time you won’t spend much time on crypto sports betting is when you play virtual sports. On the other hand, crypto casinos don’t offer games that take longer to complete. A typical round of a slot game doesn’t take longer than 3 minutes to complete and the same applies to keno, bingo, Slingo, live games. etc.
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Action of the game
In casinos, players play the game themselves and whatever happens, is directly steered by them. the players will have to wager a particular sum and start playing rounds in hopes of winning. However, in crypto sports betting, the punter only bets on the outcome of an actual event, which the punter doesn’t actively feature in. For example, the punter can bet on a La Liga match and follow the match for possible outcomes. But the punter will not participate in the actual match to determine whether he wins or loses his bet.
- Payton O'Brien, Gambling911.com Senior Editor
