Betting News

Sports Betting with Crypto Not Available in NYC

At 9 a.m. on Saturday, four New York sports betting firms, Caesars, DraftKings, FanDuel, and BetRivers, became live. Five more operators are upgrading their applications in preparation for launch during the first quarter of 2022.

This is amazing news for sports enthusiasts in the area. You can use their NY sports betting promo codes and sign-up links to get started if you’re 21 or older and within state limits. But before you do it, let’s talk about cryptocurrency. Bitcoin, Ethereum, and the other major cryptos have undeniably altered the way they think about transactions.

Decentralization has the potential to transform how we pay for goods and services. Cryptocurrencies have a decent possibility of becoming useful for online sports bettors in the future. They are, however, ineffective at this time. To know more about bitcoin sports betting and the best websites.

To sum it up, cryptos are not accepted by approved New York online betting applications. As a result, if anyone finds a sportsbook that does and claims to be a legal New York betting site, it’s probably not.

For the time being, DraftKings and BetMGM won’t accept Bitcoin. So, if a site claims to be licensed in New York but only accepts bitcoin deposits, it isn’t.

Every New York State Gaming Commission-approved US sports betting site will only accept US money. This implies you can use Visa, MasterCard, Play+, Discover, PayPal, or bank transfer to make deposits and withdrawals.

All of these payment processors are secure and well-known. As a result, even if you’re a die-hard crypto enthusiast who believes decentralization is the way of the future, you shouldn’t be afraid to use them. Only overseas and unregulated betting sites in New York accept cryptocurrency since it allows them to evade local regulations.

However, they are at risk of being shut down, and you are putting yourself in danger by using them. They’re not regulated, which means the software could be dangerous, the odds might not be balanced, and your payments might not be guaranteed. Licensed New York sports betting firms, on the other hand, must adhere to tight regulations.

These guidelines ensure that you receive a secure, equitable, and high-quality service. So, while you might assume that crypto payments are the way to go in the future, they aren’t in this case. At this time, none of the licensed operators in New York, including FanDuel Sportsbook New York, take Bitcoin, so be cautious of any sportsbook that promises differently.

Maxine Klingensmith

Maxine holds a bachelor degree in journalism, and she has worked as a freelance writer with foremost publications. Recently, Maxine has joined our team as a news editor. As she is passionate for casino and gambling industry, she conventionally contributes the latest news and reviews for casinos.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button