Will crypto sportsbook replace fiat sportsbook in the future?

[aysg76]

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.

1)See I understand your point but the main fact is that it's not at all easy to replace fiat sportsbook with crypto sports book because it is like replacing fiat with cryptocurrencies completely which is difficult at this time.
2)The gamblers need to have proper knowledge of cryptos because there are lot of scams in this market.
3)The one who prefer stability of winnings will always bet with fiat instead of crypto coins due to volatility factor
4)Above them most casino prefer to have KYC these days for withdraw on exchanges but some prefer to have anonymity of customers with them.
5)The fees are high which further reduces the profits.
6) Crypto is not regulated in most countries which further poses a threat to gamblers of crypto betting.

So there are many factors which are acting as hinderance to crypto growth but who knows what happens next.In past few years have we ever imagined that Bitcoin will be becoming mainstream and accepted by major companies and regulated by government?But it is becoming reality so who knows the future.

[1715418635]

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[1715418635]

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[ultrloa]

Unfortunately, these advantages are gradually fading away due to the fact that the entire crypto comes under the control of corporations and regulatory authorities. In fact, it makes no difference which tool you use if you are completely controllable and transparent at key points.
By the way, how many casinos do you know that use Monero?

I disagree with you, you can still find many sportsbooks like Stake.com for example without KYC. And you don't need Monero or another anonymous coin to stay anonymous. You can use mixers, coinjoins or send your transaction through an exchange with no KYC : you just need to send your BTCs to the exchange and change your BTCs into another cryptocurrency accepted by the sportsbook (ETH, LTC, DOGE, BCH, XRP, TRX, EOS are available on Stake). And if the sportsbook is crap and only accepts BTC you still can do that by using 2 exchanges, on the first you will convert your BTCs into an altcoin that you will send to the other exchange and there you will convert the altcoin into BTC before sending it to the BTC sportsbook. Hence there is no transaction on the blockchain linking your wallet to the sportsbook.

I did not say that there is no longer any way to remain anonymous. I talked about trends - and the fact is that with the arrival of large players in the cryptocurrency, the rules are tightened and the entire industry is moving towards the fiat world. That is why real tools of anonymity (such as Monero) are being squeezed out from everywhere.

We just have to enjoy the moment that regulation in crypto is not so strict yet, with the kind of adoption we are hoping, it always come with strict regulation as whether we like it or not, our regulators will always enter in the scene, making crypto not serving its real purpose which is anonymity.

There's nothing to worry regarding on regulation since I believe those happenings will be implemented for protection of the users. So we shouldn't give any bad impression regarding on regulation since it possibly drive out the sportsbook scammer owners to go out in this industry if this is protected by a law or government.

[KTChampions]

I did not say that there is no longer any way to remain anonymous. I talked about trends - and the fact is that with the arrival of large players in the cryptocurrency, the rules are tightened and the entire industry is moving towards the fiat world. That is why real tools of anonymity (such as Monero) are being squeezed out from everywhere.

We just have to enjoy the moment that regulation in crypto is not so strict yet, with the kind of adoption we are hoping, it always come with strict regulation as whether we like it or not, our regulators will always enter in the scene, making crypto not serving its real purpose which is anonymity.

I agree with you. The sad thing is (maybe) now is the best time for cryptocurrencies. In the future, with continued adoption, the difference in the use of cryptocurrencies and fiat will be minimal. And given the fact that most users use cryptocurrency through intermediaries, then these minimal differences will be very difficult to see.

[imstillthebest]

The chances will be big only when crypto will be embraced in a large scale.For now the number of gamblers who use crypto compared to the ones who use fiat is really small and unless this number grow really big it will be impossible for crypto to replace fiat sport betting sites.

we wont see many crypto sites if crypto users are small  but i believe the users of crypto is huge enough at this point .
theres only less fiat sportebetting site that are trusted and if there are sportbetting sites they only had a few users compare to crypto sportbetting  sites  . 
this is not hard for the crypto sportsbetting sites to replaced them in the future .

[michellee]

The chances will be big only when crypto will be embraced in a large scale.For now the number of gamblers who use crypto compared to the ones who use fiat is really small and unless this number grow really big it will be impossible for crypto to replace fiat sport betting sites.

we wont see many crypto sites if crypto users are small  but i believe the users of crypto is huge enough at this point .
theres only less fiat sportebetting site that are trusted and if there are sportbetting sites they only had a few users compare to crypto sportbetting  sites  . 
this is not hard for the crypto sportsbetting sites to replaced them in the future .

I prefer to see the crypto sportsbook and fiat sportsbook can still exist together so the gambler will still have their option to gamble. That can give them more opportunities to choose what they want. And maybe they will use both sportsbooks to make more winnings because sometimes, the match will be available on both sportsbooks. But crypto sportsbooks will have a chance to grow in the future as people can hide their identity while they place a bet for their teams.

[chaser15]

Why thinking of replacement if they can exist both at the same time?

There will be no replacement and it's impossible to happen. Not because we are in crypto, everyone should be on it too. What we will see is the growing numbers of people using crypto in gambling but it doesn't mean, everyone will join the party craze of doing crypto gambling.

Let's just be happy that adoption continuously takes place and no doubt, it's growing.

[Russlenat]

Why thinking of replacement if they can exist both at the same time?

There will be no replacement and it's impossible to happen. Not because we are in crypto, everyone should be on it too. What we will see is the growing numbers of people using crypto in gambling but it doesn't mean, everyone will join the party craze of doing crypto gambling.

Let's just be happy that adoption continuously takes place and no doubt, it's growing.

This is the best answer, but I think OP was just thinking if crypto sportsbook could replace fiat sportsbook on its position now. Right now, fiat sportsbook is on top, then crypto sportsbook are below, so if they could switch place, that would be big and I guess that's the possibility OP trying to brought here.

[Twentyonepaylots]

There's a good chance this will happen in the future. As technology advances, the needs and wants of people will shift to whatever is more convenient at the moment. And since crpyto sportsbook offer this convenience over their fiat counterparts, people will gravitate more towards crypto variants which are readily available over the internet. Added to this the fact that social contact is highly ill-advised which may not be gone for a very long time.

[Rengga Jati]

Crypto sportsbooks may be always developing, but can it really replace fiat sportsbooks?
Does this question seem like can crypto replace fiat?
Well, the crypto sportsbook is one of the ways payment methods where we can join or get into it using and getting cryptocurrency. However, is that really no KYC?
I ever read about KYC and AML still needed even they are able to use cryptocurrency. However, it may be on several websites only.
Crypto sportsbooks may be developing and will be spreading again, but fiat sportsbooks will still exist because not all people concern with crypto.

[KTChampions]

Crypto sportsbooks may be always developing, but can it really replace fiat sportsbooks?
Does this question seem like can crypto replace fiat?
Well, the crypto sportsbook is one of the ways payment methods where we can join or get into it using and getting cryptocurrency. However, is that really no KYC?
I ever read about KYC and AML still needed even they are able to use cryptocurrency. However, it may be on several websites only.
Crypto sportsbooks may be developing and will be spreading again, but fiat sportsbooks will still exist because not all people concern with crypto.

Even with the choice between a fully unregulated casino and a fully regulated casino, most consumers opt for a regulated one. They are not interested in ideology, they are only interested in reliability and convenience. Both options have their drawbacks, but the fact is that most choose the regulation/fiat world.

[Goodluckmate.com]

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 don't think this will ever happen as I don't think that countries and authorities will let this happen. Even now, many crypto gambling and betting sites must verify their users to prevent underage betting and money laundering. Players prefer sites they can trust and those sites are sportsbooks with licenses. To get a license, the operator will have to impose a KYC procedure. I generally believe that anonymous gambling online will disappear from most reputable brands.

I also believe that many fiat casinos will start accepting cryptos and crypto bookies will start accepting fiat because the ultimate goal of casino operators is to make money. The more customers they have the more money they will make. So, they will obviously try to meet the needs of as many players as possible.

This is all just my point of view of course based on the happenings over the years. We can't really ever know what comes next. But I don't think that governments would just give up on all the profits they can make with licensing fees. 

[Mahanton]

Crypto sportsbooks may be always developing, but can it really replace fiat sportsbooks?
Does this question seem like can crypto replace fiat?
Well, the crypto sportsbook is one of the ways payment methods where we can join or get into it using and getting cryptocurrency. However, is that really no KYC?
I ever read about KYC and AML still needed even they are able to use cryptocurrency. However, it may be on several websites only.
Crypto sportsbooks may be developing and will be spreading again, but fiat sportsbooks will still exist because not all people concern with crypto.

Even with the choice between a fully unregulated casino and a fully regulated casino, most consumers opt for a regulated one. They are not interested in ideology, they are only interested in reliability and convenience. Both options have their drawbacks, but the fact is that most choose the regulation/fiat world.

Typical choice where people do always preferred into those platforms which are regulated nor does have licensed.Its been already a part of our instinct or preference that we should
stick into these things rather than dealing into those unregulated but to see that majority of those top crypto bookies are also regulated yet the thing here is the
security of those funds on where chances of losing is most likely lost and can be stolen without any chance for recovery unlike on traditional fiat sportsbook where you can
really at least have that confidence of recovery.

[ChiBitCTy]

I don't think it will be replacing fiat sportsbooks anytime soon.  I have a good amount of friends who use local sports betting casinos online, as well as sites like Fanduel, and even after telling them about the advantages of sites like Bovada for example, who accepts a couple types of cryptocurrency, they're still hesitant to give it a try.  There's also the aspect of illegality, and right now, at least here in the United States, betting while using an online Casino not registered with the state/country is not legal.

[tabas]

we wont see many crypto sites if crypto users are small  but i believe the users of crypto is huge enough at this point .
theres only less fiat sportebetting site that are trusted and if there are sportbetting sites they only had a few users compare to crypto sportbetting  sites  . 

AFAIK. there are many fiat sports betting sites that are reputable and also have a huge bettor base. And they can just adopt crypto if they see demand for it.

this is not hard for the crypto sportsbetting sites to replaced them in the future .

Yeah likely if they won't do better service and if most people would adopt crypto and they won't.

[Chradams]

Sometimes people still like going into a shop and getting a physical ticket. Especially as everything opens back up, I could see a bump in physical sports books. But with the ease of crypto and online they have nothing to worry about

[KTChampions]

Even with the choice between a fully unregulated casino and a fully regulated casino, most consumers opt for a regulated one. They are not interested in ideology, they are only interested in reliability and convenience. Both options have their drawbacks, but the fact is that most choose the regulation/fiat world.

Typical choice where people do always preferred into those platforms which are regulated nor does have licensed.Its been already a part of our instinct or preference that we should
stick into these things rather than dealing into those unregulated but to see that majority of those top crypto bookies are also regulated yet the thing here is the
security of those funds on where chances of losing is most likely lost and can be stolen without any chance for recovery unlike on traditional fiat sportsbook where you can
really at least have that confidence of recovery.

No matter how sad it may be, people prefer to minimize their own responsibility and shift it onto the state. Therefore, they choose more expensive and inconvenient options instead of using more efficient options but without guarantees from the state. It is very difficult to accept this fact being on a forum where most of the participants take a different approach, but in real life everything happens that way.

[hanspeter77]

the BIG bet office should accept Crypto than can we take about that crypto replace fiat bet,s
that im think about, its hard for underdog bet office only in internet, in my town are for sure 5 bet office 

[Saint-loup]

Unfortunately, these advantages are gradually fading away due to the fact that the entire crypto comes under the control of corporations and regulatory authorities. In fact, it makes no difference which tool you use if you are completely controllable and transparent at key points.
By the way, how many casinos do you know that use Monero?

I disagree with you, you can still find many sportsbooks like Stake.com for example without KYC. And you don't need Monero or another anonymous coin to stay anonymous. You can use mixers, coinjoins or send your transaction through an exchange with no KYC : you just need to send your BTCs to the exchange and change your BTCs into another cryptocurrency accepted by the sportsbook (ETH, LTC, DOGE, BCH, XRP, TRX, EOS are available on Stake). And if the sportsbook is crap and only accepts BTC you still can do that by using 2 exchanges, on the first you will convert your BTCs into an altcoin that you will send to the other exchange and there you will convert the altcoin into BTC before sending it to the BTC sportsbook. Hence there is no transaction on the blockchain linking your wallet to the sportsbook.

I did not say that there is no longer any way to remain anonymous. I talked about trends - and the fact is that with the arrival of large players in the cryptocurrency, the rules are tightened and the entire industry is moving towards the fiat world. That is why real tools of anonymity (such as Monero) are being squeezed out from everywhere.

We just have to enjoy the moment that regulation in crypto is not so strict yet, with the kind of adoption we are hoping, it always come with strict regulation as whether we like it or not, our regulators will always enter in the scene, making crypto not serving its real purpose which is anonymity.

There's nothing to worry regarding on regulation since I believe those happenings will be implemented for protection of the users. So we shouldn't give any bad impression regarding on regulation since it possibly drive out the sportsbook scammer owners to go out in this industry if this is protected by a law or government.

Could you explain us how regulations would prevent scams? Most of times owners and their platforms are not locatable, and the others  are based on unreachable tax and regulation heavens. The only thing governments can do against that is to prohibit their use in their jurisdiction. Is this what you want? Do you need a law to prevent you from using those platforms?

[Ewox]

I don’t think it will replace the fiat sportsbook yet with crypto for as long as the cryptocurrencies are still decentralized, people from the government would also like to get a cut out of these casinos and if they’ll use cryptocurrency what about the taxes? But who knows, maybe they’ll figure out something in the future too.