Will crypto sportsbook replace fiat sportsbook in the future?

[stadus]

I'm seeing the improvement on the crypto gambling space especially in sports betting, so I was thinking, since crypto sports betting is easier than fiat betting, then probably people might transfer here and tht would help the increase of adoption.

some of the benefits when using crypto sportsbook.

1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....

What do you think about its chances.

[Lakai01]

1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....

Once crypto gambling (but also sports betting) becomes so popular that they start replacing traditional FIAT-based betting options, at least the first two points will be history States and institutions certainly won't miss out on profits and tax revenues from crypto gambling and will find ways to make money from it then as well.

[Twinkledoe]

I think not yet replace but will be a good competitor of fiat sportsbooks. Since a lot of these traditional gamblers will still prefer to deal with their fiat money. Some will stay at fiat, but some will try crypto. But for these new gamblers, more than likely, they will go for crypto sportsbooks. Points 1 & 2 alone are good features of crypto bookies where these gamblers will be attracted to.

[roosbit]

I know for a fact that no kyc and anonymous gambling means  the platform is some unregulated gaming site, and should a problem arise it's very difficult to have a case against them.

But on the positive side, what crypto gambling brings to the table is far much better than most fiat site which is something most gamblers will be receptive to and with the reasons brought forward these could be popular just not sure about replacing fiat sportsbooks.

[Ziskinberg]

I know for a fact that no kyc and anonymous gambling means  the platform is some unregulated gaming site, and should a problem arise it's very difficult to have a case against them.

That's correct, and mostly it will not attract whales because they are playing with money, however, their reputation is big enough to risk when they scam people, a crypto casinos making millions of dollars monthly will not scam gamblers even if they gamble millions also, i'm not saying it will not happen but since they are protecting their business, they would not destroy their reputation.

For gamblers, if they want to minimize the risk, then gamble in differnet sites.

[Russlenat]

No chance it will replace the traditional casionos, they are here from the start and their market is already huge.

They have a license, regulated by the authorities so the confidence of gamblers is high.

Crypto is still quite complicated to some, and the scam rate in crypto is huge, so probably that could be some reason why they will not gain as much trust as the fiat sportsbook. However, its still not a bad thing as crypto sportsbook are really helping us especially the small time gamblers to enjoy since fiat casinos are full of restrictions and a big expensive.

[ethereumhunter]

I guess so. But it still needs time before crypto sportsbook replaces fiat sportsbook. But people will see the benefit of using crypto as the bet because, as what @OP mention, they will have their privacy not to send any document just to playing gambling. If they use crypto, they can buy in any exchange and send it into the crypto sportsbook. It will give them a new experience for playing gambling using crypto as they will never get from the fiat sportsbook. We need to give them time to decide and we will see if that can bring more adoption to the gambler.

[panjul07]

The question is just the same as "will crypto replace fiat" in general (as payment method).
Fiat is not something replaceable, it will always there since many people still use fiat and will be using it till the end of the world IMO.

1. No KYC
2. Anonymous gambling.

Not really, these days many crypto sportsbook ask KYC and I believe KYC will be a mandatory in the future even if we are dealing with crypto.

3. Instant deposit and withdrawals.

It depends on the sportsbook, not all casino offers instant deposit and withdrawal.
Instant deposit is a bit risky due to double spend so I think it is not a benefit anymore compare it fiat.

[stadus]

The question is just the same as "will crypto replace fiat" in general (as payment method).
Fiat is not something replaceable, it will always there since many people still use fiat and will be using it till the end of the world IMO.

1. No KYC
2. Anonymous gambling.

Not really, these days many crypto sportsbook ask KYC and I believe KYC will be a mandatory in the future even if we are dealing with crypto.

I know but there are still some who does not require a KYC, and that is suppose to the the norms in the crypto space since they advertise anonymous gambling. If we submit on KYC, then there's no advantage anymore. Popular sports betting sites like sportsbet.io and stake, they never ask KYC.

3. Instant deposit and withdrawals.

It depends on the sportsbook, not all casino offers instant deposit and withdrawal.
Instant deposit is a bit risky due to double spend so I think it is not a benefit anymore compare it fiat.

I agree but I'm using a sportsbook where my transaction are instant, also depends on the coin you are using but with altcoins like TRX, DOGE, and XRP, transaction fee are cheap and faster as well.

[ReiMomo]

It could be yes or it could be no, but I slightly doubted that it will never happen that fiat sportsbook gambling will replace crypto casinos. There are still people easy to use for them their ATM cards or bank account to sportsbook casino that already trusted. Because a licensed booker is somehow could be trusted upon putting a large amount of money even though there's a high chance that could be linked your personal information, that is not a big deal for them.

In crypto bookers, is an option if gambling in your country is prohibited and the booker is trusted enough to deposit a huge amount that is find, but mots likely as of now, they required KYC even though they accept cryptocurrencies.

[Stalker22]

What do you think about its chances.

It remains to be seen. For me crypto casinos are the future, and if fiat sportsbooks don't adapt to the new market conditions, the crypto casino will become the de facto place for the sports betting. That is because there are many innovative ideas in the field of betting and these ideas require some technical innovation in order to work. However, I don't see many ideas that could fit the fiat gaming world.

[Vaskiy]

Users who have used to cryptocurrency based gambling sites won't go for fiat based casinos anymore. This is the understanding about me, but this used to vary between users. Most of the gamblers who are into sportsbook usage and sports betting years back will not prioritise cryptocurrency accepted sportsbooks. New gamblers prioritise cryptocurrency accepted sportsbooks. Upon all these factors I believe the future will have gambling sites with both cryptocurrency and fiat acceptance.

[acroman08]

I don't think it will replace it but I think crypto sportsbooks might be able to dominate the sports betting industry( and yes, I also think the same thing will happen for online crypto gambling casinos). also, other than fiat sportsbooks start accepting BTC and other cryptocurrencies there is always an option for fiat sportsbooks to integrate some of the advantages of playing on a crypto sportsbook.   

[fiulpro]

I'm seeing the improvement on the crypto gambling space especially in sports betting, so I was thinking, since crypto sports betting is easier than fiat betting, then probably people might transfer here and tht would help the increase of adoption.

some of the benefits when using crypto sportsbook.

1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....

What do you think about its chances.

I do think it's already on the way to replace that. With cryptos being integrated everywhere, this is already a dream of many crypto gambling companies and at the same time more and more people are getting involved with it. The right way would be :
1. Proper education of people regarding cryptos and how it works
2. Integrating more coins on the gambling sites
The crypto gambling started very early but is evolving very slowly. Only after the year 2017 we did she a jump therefore I do think that the companies need :
1. Better staff, better analysts
2. Lower fee on sending and receiving BTC
3. Instant withdraws a deposits available everywhere
4. A little bit more advertisement
5. Proper integration with things like Gamcare.
P.S. in a offline casino there has been news of having a faucet machine which runs just on cryptos , which does mean these companies are already seeing the potential in the crypto gambling.

[Fortify]

1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.

I think these are pretty poor reasons to give and they are not unique to crypto. Any regulated business will be required to know where player funds are going in and out. If they are based in countries like the US, the UK or Europe they will be required to know the source of funds as this prevents money laundering. Once you start using sites that do not do these checks, you should be very wary about how they will treat their customers in future and are the sort of operation that could disappear overnight. Anonymity is covered by the last point but this usually works both ways, many online casinos do not share who owns them and this can substantially up the risk that they can take player funds with no oversight. Instant deposit and withdrawals - most developed countries are capable of doing this now and it will roll out to all countries in time. I can send funds and receive funds via visa card almost instantly already - probably faster than even the block chain.

[RealMalatesta]

1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.
4. ETC....

What do you think about its chances.

KYC and anonymous betting are not happening even with crypto-only-houses. They do ask to clear KYC for some reasons. My spouse got rewards into a gambling account for promoting them in this forum but when tried to withdraw the funds they catch and asks for KYC for no gambling inovolved. But, we solved the situation by explaining no-deposits were made but the funds are rewards hence that rule will not be applicable. I mean these days all crypto gambling houses are too keen to make us clear KYC things.

Instant deposits and withdraws are possible with fiats as well. I am trying to say these are not new just because of crypto adoption. Moreover, bitcoin payments need at least 10 minutes and I am afraid hard core gamblers are ready account this 10 minute delay as instant.

Overall, if crypro gets power to replace fiats in our day to day life then it will replace in gambling industry as well.

[fiulpro]

1. No KYC
2. Anonymous gambling.
3. Instant deposit and withdrawals.

I think these are pretty poor reasons to give and they are not unique to crypto. Any regulated business will be required to know where player funds are going in and out. If they are based in countries like the US, the UK or Europe they will be required to know the source of funds as this prevents money laundering. Once you start using sites that do not do these checks, you should be very wary about how they will treat their customers in future and are the sort of operation that could disappear overnight. Anonymity is covered by the last point but this usually works both ways, many online casinos do not share who owns them and this can substantially up the risk that they can take player funds with no oversight. Instant deposit and withdrawals - most developed countries are capable of doing this now and it will roll out to all countries in time. I can send funds and receive funds via visa card almost instantly already - probably faster than even the block chain.

Yes but I do think you are missing out the whole point. The cryptocurrencies are more trackable as compared to any fiat or cards. There are so many illegal businesses out there but you can very easily keep a track of your gambling business. You can ofcourse have the customers sign the legal doc, where their information can be used if they are under any investigation.

Cryptos are not anonymous!
They are literally the most transparent currencies if a person knows how to keep a track of everything. I do think that KYC is already mandatory for most of the wallets and at the same time linking your bank account and the wallet takes seconds.

It's not like people would hide something here. Also the gambling sites have stopped advising users to use the " IP address changed " things like tunnel bear and most people are banned instantly if they do something like this. This actually sends us a signal that the gambling companies are actually getting serious to prevent any problems.

[ChuckBuck]

What do you think about its chances.

Of course, if we do not consider other factors that may govern gambling, eg legislation. We can say that crypto sportsbook is going strong and is gradually replacing fiat sportsbook. In addition to the factors you mentioned above, the development of cryptocurrency is also extremely important. A lot of people love to gamble, so it will be even better when they can gamble and speculate with cryptocurrencies. It is becoming a trend.

However, to say that crypto sportsbook can replace fiat sportsbook. It is wrong!

[Theb]

It may have some of those advantages over tradition betting sites but if you think about the situation it might not be always like that in the feature. As soon as crypto gambling will be as popular as the other traditional ways of gambling expect that added regulations will take place as they always do, this has been what we have seen in the past where crypto exchanges, P2P exchanges, and even Bitcoin ATMs before doesn't need any KYC verification but now they have one as regulations and other laws change and adjust to where the money is always active. For Fiat sportsbook I don't think it will come to a point that they will die as they can always adjust and accept multiple types of currencies just to adjust on where the market is at.

[tomahawk9]

Nah, never.

they lack market offering & infrastructure, they lack trust because there's still a stigma surrounding cryptos (plus, you'd be surprised how many ppl actually prefer a bookie that asks for KYC over others that don't) and they they lack liquidity cos they don't have as many gamblers as the popular fiat bookies which makes the avg and sharp players stay away from soft books like the majority of crypto bookies.

There's not much incentive for your average player to change from fiat to crypto sportsbooks other than "privacy" or "anonymity", and even then, you won't be exempt from a KYC request in a crypto friendly bookie, so...