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Bitcoin is a secured, decentralized and untraceable cryptocurrency. Which means that people who receive a payment won’t obtain any sensitive personal information from the sender. As a bookie, you should know it is very important to keep your anonymity as much as possible to avoid any entanglement. Besides, bettors can easily transfer funds from their Bitcoin wallet to their bookie agents in seconds. And bookies will return funds via the same payment method without having any complication or delay. As a result, due to its high privacy and convenience, this is why Bitcoin makes so perfect for both bookies and players. Today, in this article, you will learn why Bitcoin is ideal for sports betting business.

Extra layer of security and privacy

First of all, using Bitcoin is necessary since bookie business is all about handling the money. However, hackers find more interested to target money businesses since they are a good mine for financial information. Although a good Pay Per Head provider like Price Per Head offers software with high security features and even closely monitor your site for blips in normal backend patterns, using Bitcoin can guarantee you with an extra layer of security.

How can Bitcoin provide an extra layer of security and privacy?

Cryptocurrency like Bitcoin is recorded on device drives with no personal information attached to the account. In other words, it doesn’t require any personal data embodiment but uses cryptography which generates random address for each transaction without revealing anything about the identity.

Discretion and anonymity

Bitcoin is not tied to any central financial institution and all the payment data is kept private as person-to-person transfer. Which means that no government entities can control or trace your financial activities. This is to say bookie business should seriously consider using Bitcoin by the need for discretion in both bookies and players online betting activities.

Speed

Another big reason why Bitcoin is important for sports betting business is its speed. Bitcoin transactions are instantaneous for bringing either bookies or players’ maximum convenience. Time is no longer an issue when you are waiting to receive or make a payment.

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Online bookie business becomes pretty popular nowadays because it holds some advantages for people to get the success easier. One of these advantages is to use the cryptocurrency as payment method. However, not every bookie software provides the cryptocurrency service. Thankfully, a good Pay Per Head like PricePerHead.com has been wise enough to embrace the new technology and always gives their clients the best.

There are still many people don’t really understand what cryptocurrency is and what benefits it can provide them. For this reason, we will start with the basics and show you why cryptocurrency is essential to your bookie business. Hopefully, by the end of this article, we will have successfully clarified your doubts and make you understand more why you definitely need it on your bookie business journey.

Privacy

Cryptocurrencies are designed to work as a medium of exchange . They use blockchain technology which is an advanced encoding algorithm that can secure and verify all online transactions without being overseen by any financial institutions or government entities. In other words, other third parties cannot track users’ activities nor make any influence against their interest. As a result, using cryptocurrency becomes a perfect solution for bookies and players around the world because no one (such as government, hacker, bank, corporation, etc) is able to interfere the transactions.

Anonymity

Cryptocurrency like Bitcoin doesn’t require any personal sensitive information from its users. There is no license, background checks or proof of identity needed to own the cryptos. Indeed, you can transfer, receive, buy or sell cryptos in complete anonymity and with complete privacy. Because it is virtually impossible to point out where the transaction was originated and nobody is able to figure out who sent, received or exchanged the money. Therefore, using this kind of payment method can certainly protect your business and keep its anonymity as much as possible.

Instant convenience

Unlike the traditional payment methods that sometimes may take from a few minutes, hours or even up to days for the verification process, cryptocurrency transfers are nearly real-time. Which implies that every transfer of cryptocurrency is verified immediately. Therefore, bookies won’t need to face a frustration of delay when they need to make a payment while having very busy schedules.

Security

Since cryptocurrency technology is encoded by mathematical algorithms, it guarantees the security of users’ transactions because data cannot be falsified or altered. This means that it makes difficult for hackers to steal your money and you are able to obtain maximum security while conducting cryptocurrency transactions.

Cost-effectiveness

Since there is no third-party involved in any transaction such as banks, this makes the transaction fees much lower than other traditional forms of payments. To be more specific, using Bitcoin, Ethereal, Litecoin or other cryptocurrencies turn out much cheaper than using Western Union, Money Gram, Pre-paid cards or gift cards. Besides of its effectiveness and many benefits mentioned above, bookies can save a little money even they lose the bets.

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Why Bitcoin Is Ideal For Sports Betting Business?