September 13, 2020

Online Gambling And Sports Betting With Cryptocurrency

For a long time, sports betting is an activity that many engage in wherein punters visit bookies in their locality so as to wager on various sports games, like soccer, football, tennis  or horse racing. Over time, the gambling industry which includes the sports betting sector has entered the online domain offering punters more perks.

SBOBET SBO60 for instance provides a channel for the people of Thailand to bet on Football. Check out ราคาบอลไหล. Since Thailand is a place where all forms of gambling, except for two, the site has become a popular channel for Thais to engage in offshore online gambling wherein they are able to wager on various sports and play casino games. SBOBET has been in the online gambling space for more than a decade. And with the professional serve they provide, they are able to establish trust and loyalty with their members as well draw in more players.

Online Gambling  And Cryptocurrencies

As per Google Trends, the attraction and interest in web-based sports betting has been gradually but steadily growing for the last ten years. Along with the rise of online sports betting, is the growth of cryptocurrency as well. Hence, it isn’t a surprise that online sports betting sites have adopted the use of digital currencies. This has then allowed cryptocurrency holders to potentially grow their digital assets through online sports betting.

Many sports betting websites have indeed integrated the use of cryptocurrencies as a payment option since they have recognized its potentials as well as the possibilities it offers both for the bookie and the bettor. While cryptocurrencies do provide certain advantages, it too has its drawbacks which could be a risk to both parties. And one major drawback is its volatility.

Cryptocurrency – Its Volatility Factor

When you purchase or trade cryptocurrency, you may be doing this because you would want to utilize these digital assets to purchase certain services or products, including using it to place a wager on a crypto sports betting site, or to support or back a particular initiative. Although this is an excellent alternative, the drawback is that the coins are volatile, meaning their value isn’t stable. The value may fluctuate as if you made an investment in the stock market and then watch the value of your assets continuously rise and fall in value.

Every asset has a certain measure of instability or volatility; however, cryptocurrencies are perhaps the most volatile form of asset that one could possess. Therefore, the individuals who purchase these digital coins run the dangers of watching the value of their assets to considerably drop at any time. While the value could rise as well, its volatility is an issue for people who would want to utilize it as a currency.

To illustrate, say a business receives a Bitcoin payment wherein the value is about $6,000 on the day it is received. After a day, the value suddenly drops to $3,000. This then leaves the business $3,000 short, which could bring about a real problem in cash flow.

Why Is Cryptocurrency So Volatile?

The digital assets are so volatile for many major reasons. Below are two:

  • NEWNESS. As cryptocurrencies are assets that are comparatively new, they aren’t that developed yet unlike traditional assets such as bonds and stocks wherein their value is much more stable. Once fully developed and established, the volatility of cryptocurrencies should somehow peter out. So for now, investors will have to put up with the fluctuation.
  • HERD MENTALITY. The fear of missing out is one reason why many invest in cryptocurrency. Hence, they fail to truly understand what it means to purchase and hold this asset. Because of this, they sell their assets when others do so and purchase when others are purchasing which directs towards immense surges in either way.

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