Crypto Betting in Botswana | Exploring New Betting Options in Botswana with Tim Harrison
Betting with Crypto in Botswana: Tim Harrison for The Alike
Like other parts of the world, the preference for cryptocurrency as a means of payment has become popular in Botswana. Businesses now accept payment in cryptocurrencies. Even basic life activities, like medical checkups, now allow cryptocurrencies as a form of payment.
Justice Hubane: Central Business District in Gaborone, the capital city of Botswana
This change also makes waves in betting spaces worldwide, and Botswana is not left out. The Gambling Authority Act regulates the betting market in BW, passed by the National Assembly in 2012.
Betting sites in Botswana now have new payment options that allow you to wager in cryptocurrencies and even win prizes in them. Our gambling expert, Tim Harrison said it eliminates some problems found with the traditional way of betting.
Why Crypto Betting?
The world of cryptocurrency is still confusing to many. There’s nothing complex about crypto, as the case is presented sometimes. The entire system is the opposite of traditional banks. This fact is one of the reasons keeping players from getting into crypto betting, and it’s pretty sad.
Where fraudulent transactions happen in a traditional bank, you can monitor everything around your money with cryptocurrency. It’s simply the conventional bank turned inside so there is no central authority. Where your money was at the mercy of bank authorities, your money is at your mercy with cryptocurrencies.
The same transparency is the key point of crypto betting. There are avoidable risks that bettors run into while withdrawing their cash or placing a bet. These problems can be avoided with a platform like cryptocurrencies. It brings transparency into the games and saves you stress. But there are a lot of benefits.
How Crypto Betting Works
Crypto betting works like regular betting. The only difference is that it works with cryptocurrency—bettors make deposits in crypto and withdraw wins in crypto. However, not all betting sites allow you to deposit and make withdrawals with crypto. Some betting sites will allow you to make deposits with crypto, but you have to withdraw in Fiat.
It will help if you check this video to learn more about crypto betting:
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You can now bet with cryptocurrencies and win in cryptocurrencies. Betting sites with that feature are now a norm. All the benefits available in betting sites with only fiat deposits and withdrawals are also available in wagering sites with crypto deposits and withdrawals. They are also available in Botswana, and I’ll tell you which ones.
Crypto Betting Sites in Botswana
Botswana’s list of crypto betting sites continues to grow every other day. There are a few early ones that offer impressive seamless services. Betway is the leading betting site in Botswana. It allows punters to place bets with crypto and withdraw with the same gambling method.
PowBet, another trusted betting site in Botswana, allows bettors to make deposits and withdrawals in cryptocurrency. It is a relatively new betting platform but has earned its keep since 2020. Other betting sites like Bet365, IviBet, MyStake bet, and Lapilanders accept cryptocurrency deposits.
Pros of Crypto Betting
When anything gets replaced, it is because of loopholes in the initial design.
These happened to traditional sports betting:
- the lack of privacy,
- unexplained delays in payments by bookmarkers,
- the unreliability of financial transactions that involve fiat currencies controlled by traditional banks.
The occasional hurdles you run into while trying to make payment with your bank app or through a payment service are eliminated when you make stakes with cryptocurrency. Making crypto payments is seamless and straightforward.
All you need is:
- a wallet,
- and live matches.
Punters fall in love with comfortable service. Crypto betting fills these loopholes one after the other with a straightforward solution. Your transactions are private to you and you alone. The transactions are encrypted, so you’re assured that your anonymity will remain intact after that game.
They want their space and the freedom to do whatever they want on the platform. Punters don’t like to sweat over their transactions’ safety and privacy. It’s also upsetting when bettors begin to face hiccups every time they want to make withdrawals. Cryptocurrency takes care of all these, but there is a second side to this coin.
Cons of Crypto Betting
The other side of crypto betting is with its design and nothing else. The question of legality is off the table since the use of cryptocurrency is not illegal in Botswana. However, while you have the freedom to make some mistakes and correct them while using fiat currencies, the same does not go with cryptocurrencies.
Any transaction made with cryptocurrency cannot be restored. Once you make a cryptocurrency transaction, you cannot backtrack on it. The permanency of crypto transactions puts it in the wrong position for punters. It is not impossible to make a mistake while placing a bet. It’s also not impossible to change your mind after placing a wager.
Betting with cryptocurrencies does not give you that room.
While the anonymity of bettors is very important and catered for by cryptocurrencies, there’s the problem of fraudulent coins. An anonymous user may use corrupt cash to fix matches, and it’s impossible to track them down. I mean, crypto gives you the most cherished anonymity.
Like a traditional marketplace, bettors can make solid wagers, betting away valuable physical items in return for cash. This design cannot be replicated in crypto-fixed matches. The coins are invincible money, and their form cannot be changed. Bettors are limited to only the coins of their choice.
Frequently Asked Questions
- What cryptocurrency can I bet with?
The type of coin accepted on crypto betting sites differs. While some bookmakers give you a variety of crypto to choose from, others may limit theirs to only one type of coin.
- Is Bitcoin the only cryptocurrency I can bet with?
No! Ethereum, Dogecoin, Bitcoin, Litecoin, and other coin holders can place bets. It is not limited to Bitcoin alone.
- Can I use crypto for live matches?
Yes! Every crypto-friendly betting allows you to fix live matches with crypto.
- Can I make a crypto deposit and a fiat withdrawal?
It depends. It is a stressful process, but some crypto-friendly betting sites allow you to put in crypto and withdraw cash.
- Will I get bonuses in crypto?
Yes! You are entitled to bonuses, whether you use cryptocurrencies or not. Some websites even offer a 100% bonus to crypto users.
- Do I need to enter my personal information while making a crypto withdrawal on a betting site?
No! Crypto transactions are anonymous. All you’ll ever need is your wallet address.
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