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Since it’s inception, Bitcoin is the cryptocurrency that’s dominated the sportsbook industry. Does that mean Bitcoin will dominate the industry in 2018?
Online bookies should keep reading to find out!
Cryptocurrency in 2018
We’ve listed the 3 cryptocurrencies that should be the most discussed this year.
Bitcoin
The father of all cryptocurrencies might have slowed down in terms of its value, right now it’s trading at between $7,000 and $8,000 dollars.
Whereas, late last year it was trading at over $11,000, but when it comes to the sportsbook industry, Bitcoin is still the crypto of choice.
Why? It’s the most well-known. That means Bitcoin adoption will only continue.
The more individuals that use Bitcoin to purchase everyday products means that Bitcoin becomes much easier to use in the sportsbook industry.
Ethereum
Ethereum has become a popular cryptocurrency because unlike Bitcoin, applications can be built on the Ethereum platform. Microsoft is one of the companies that believes in the future of Ethereum.
Ethereum can be used to sell contracts, not just goods and services. This gives it more flexibility than Bitcoin.
Ripple
Ripple is becoming more and more popular due to its backing from Bank of America, one of the largest banks in the world. Bank of America has invested in Ripple.
Ripple most likely won’t be a cryptocurrency of choice in the sportsbook industry because of Bank of America’s involvement.
Which Will Dominate in 2018?
The cryptocurrency that will dominate the sportsbook industry in 2018 is Bitcoin. The reason is because Bitcoin has a huge head start over both Ethereum and Ripple in the sportsbook industry.
Bitcoin is also becoming more and more popular for everyday purchases. That will lead to Bitcoin’s adoption all over the world.
The father of all cryptocurrencies remains peer-to-peer. This is another reason for it’s adoption. 7
Ethereum is great. However, it’s main use, contract based instead of peer-to-peer currency based, is not conducive to sportsbook industry adoption.
The sportsbook industry wants a cryptocurrency that can be peer-to-peer without any involvement from other parties. That’s why of the 3 currencies, Ripple is the one that will be used the least.
Bank of America’s involvement in Ripple means the sportsbook industry might never adopt the digital currency.
Pay per head agents who still don’t accept cryptocurrency should be getting on the bandwagon!
There’s a ton of reasons it’s so popular with bookies and why sportsbook management software must have this payment options available.
Find out the reasons all sportsbook should offer cryptocurrency, and how to get a solid deal with cash back opportunities when you switch.
