Cryptocurrency News

How To Use Bitcoin & Ethereum To Bet On The World Cup Final

On Sunday, an estimated audience of around 4 billion people will watch France and Croatia contest the 2018 World Cup final. A large amount of viewers will bet on the match, and while the bulk of those will use traditional fiat currency, and increasing number will be using Bitcoin & Ethereum to wager with.

On Sunday (July 15) at 5 PM (CEST), France will play Croatia in the final of the 2018 FIFA World Cup which is being held this time around in Russia, who have done a great job in staging the world’s largest sporting event. Although the final matchup is a little underwhelming, and many fans were hoping that England would be facing the French, Croatia are there on merit, and may yet go all the way and win the trophy.

Many fans tuning in to watch the action will have placed a bet on its outcome. Using an online sportsbook to wager on sporting events is the preferred method among regular bettors across most continents. Until May of this year, such a practice was banned in the US, but the US Supreme Court finally called time on PASPA (the Professional And Amateur Sports Protection Act), and each state can now set its own rules regarding online sports betting. The biggest sports betting websites such as William Hill and bet365 cover millions of transactions daily, but as of yet, they do not allow the use of cryptocurrency.

Two Sportsbooks Who Welcome Crypto

Luckily for fans of digital currency, there are currently two main online sportsbooks who cater for the sports bettor who wishes to wager using cryptocurrency, one which requires Ether – the Ethereum coin, and the other is set up for BTC, better known as Bitcoin.

CryptoBets.cc

CryptoBets is a crypto sports betting platform that is currently live and accepting bets. The site was born out of an experimental platform which appeared earlier this year named CryptoBowl, which was set up to allow crypto fans who wanted to bet on the Super Bowl, to be able do so using Ethereum. It turned out to be a surprise hit, and as much as $25,000 worth of Ethereum was wagered upon the Super Bowl. Based upon this success, the developers expanded the platform and renamed it CryptoBets.

CryptoBets is basically an open source Ethereum smart contract which gets its soccer stats and results by linking up to a site called football-data.org. There are no tokens to buy aside from Ether. There is also no commission charged,  which means there is no “bookie” in a traditional sense. Bettors are basically betting against others using a platform based upon the Ethereum blockchain.

Winnings are distributed by a self-creating spread, with winners receiving a share of the amount of Ether in the “losers pot” relative to the figure they laid down in their initial bet. With a game as intriguing as France vs Croatia – with “Les Bleus” the slight favorites, but plenty of interest in the very dangerous “Vatreni” (the Croatian team nickname, which means “Blazers”), both winner and loser pots should be full of Ether at the final whistle!

CloudBet.com

By far and away the most famous cryptocurrency-friendly sportsbook is CloudBet.com, which is often marketed as the “Best Bitcoin Betting Site.” Established in 2013, CloudBet is a fully functioning, multi-sport betting platform and casino which has been created purely for Bitcoin users.

CloudBet includes all of the necessary features designed to attract and satisfy sports bettors, including a wide range of sports to choose from, and multiple betting options for each sport. Many live events are covered, with plenty of “In-Play Live-Betting” options available.

In its five years of existence, CloudBet has remained scandal free (something of a rarity in the crypto world), has steadily increased in popularity and client base, and has earned a sterling (pun intended!) reputation, which it maintains today.

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