How to Use Bitcoin to Bet the Masters
You can fund your online sports betting account using Bitcoin to wager on The Masters 2018 and withdraw using that cryptocurrency, then convert it into USD, euros, pounds or other money by connecting to your bank account.
Betting the Masters is especially popular. The Masters 2018 was expected to be the most wagered on golf tournament as this was going to press. Much of this had to do with Tiger Woods insurgence.
The online betting site will simply have you send them the special address/token obtained from the Bitcoin wallet or exchange.
You would select either SEND (to deposit funds) or RECEIVE (to withdraw funds).
Some exchanges allow one to connect to their bank accounts. The Bitcoin can be converted into the currency of your choice then transferred into your account in as little as 24 hours.
We know from witnessing the first few months of 2018 that the prices of Bitcoin and other cryptocurrencies have been fluctuating dramatically, mostly in the wrong direction. It is important to monitor the trading and convert your payouts quickly into fiat currency. Of course you can always invest.
A good Bitcoin wallet can be found at Bitcoin.com here. You should transfer funds between the wallet and your chosen online sportsbook then move funds into the exchange and finally into your bank account. While this adds a little extra time to the process, wallets are considered much more secure than the exchange itself. You never want to store funds for any long period of time on an exchange. The exchange should only be used for converting and transferring of funds right away.
Bookmaker, by the way, offers up to 60 different cryptocurrencies to use for betting purposes.
- Gilbert Horowitz, Gambling911.com
