August is always a big month for sports bettors. Baseball is heading into the stretch run, and King Football is gearing up. The Hall of Fame game, the first preseason game of the year for the NFL, kicked off on August 3rd. By the following week, each NFL team had played a preseason game. Sports books geared up as well, offering great bonuses and perks to sports bettors looking to reload their betting accounts for the upcoming football season.
Many of those sports bettors funded their new accounts using bitcoin (BTC). Bitcoin, a curiosity just a few years ago, is now the premier method of depositing and withdrawing from online sportsbooks. A bettor sends the sportsbook his bitcoin, and a short time later his account is credited with the US dollar equivalent of that bitcoin. On August 1, a single BTC was worth about $2700. A player who sent deposited one BTC at a sportsbook like 5Dimes.com would then have $2,700 to play with in his account.
In theory, the ease of funding an account is great news. In 2017, however, the sports bettor who sent in a bitcoin to 5Dimes just screwed himself out of some major winnings. Bitcoin today is worth $7,500. Had that sports bettor just held onto his bitcoin, he would have nearly tripled his money. By doing nothing. No work. No bad beats. No sweat.
And also no fun. Sports betting is a great hobby to have, keeping a sports fan interested in games that normally would never merit a second glance to the fan. If the fan misses out on a few dollars due to bitcoin’s increased popularity, so be it.
BitcoinRush.io, however, allows that fan to both make his bet and keep the bitcoin. BitcoinRush’s action is all in bitcoin. When a bettor deposits his bitcoin into the sportsbook, he will also be betting in bitcoin. His wins and losses will come from that deposited bitcoin. BitcoinRush doesn’t convert the player’s deposits into fiat currency, enabling that bettor to reap the benefits of a rising bitcoin as well as hot streak at the sportsbook.
For example, if a player deposits a bitcoin at 5Dimes and doubled his money after a winning streak, he would have $5,400 in his 5Dimes account. When he cashes out, that $5,400 would be converted using bitcoin’s current price. So, after doubling his money and cashing out today, that winning bettor would be sent .72 BTC. He lost BTC, despite doubling his money.
BitcoinRush, on the other hand, would send that bettor 2 BTC rather than the .72 BTC from 5Dimes. Since all the action was in bitcoin, all the profit was in bitcoin as well. The bettor, after sending in a BTC worth $2,700 in August, would receive 2 BTC worth $15,000 when cashing out.
Bitcoin is obviously not going to triple in value every few months. But BTC’s long term trend is clear. The supply of BTC is limited, and demand only getting higher. Any bettor who uses his bitcoin to play at sportsbook that converts the bitcoin to fiat is likely leaving a lot of money on the table.
BitcoinRush has been in business since 2013. Specializing in casino games initially, it has gradually expanded its offerings due to player demand. It offers reduced vig and payouts that can be as quick as 10 minutes or as long as 8 hours, depending on the time of day a player tries to withdraw. Their lines are similar to Pinnacle Sports, with high limits and anonymous wagering. “In four years of operating,” says BitcoinRush in one post, “we’ve never ID’d anyone.”