Attention Pay Per Head Agents: Do You Know About These Bitcoin Gambling Advantages?
If you’re a pay per head agent and you don’t know about Bitcoin, then you could be missing out on the biggest opportunity since the online bookie business was created.
The stage is set for cryptocurrencies taking over the way sportsbooks the world over manage financial transactions and how players fund their betting accounts.
Watch the Video Below To Get the Bitcoin Basics
Why Betting With Bitcoin Is the Future of Sports Gambling
If you still haven’t seen the advantages of offering your players the possibility of betting with Bitcoin, let’s go through a few of them.
First, you should already know that accepting payments from your players for betting is difficult. Some countries make it very hard for bookies to run their businesses by limiting payment methods if they’re used for betting purposes.
It doesn’t matter that your players are making the decision to bet with their money, the fact is there are all sorts of limitations and restrictions on financial transactions that are gambling related.
It’s something the offshore sportsbook industry has been faced with for years despite the millions upon millions of dollars bet each year on sports, casino and other types of wagering.
As a local bookie, you could and probably do, take cash or offer credit when your players want to place a bet, the same as it’s been since gambling was invented.
However, it’s obvious that taking cash, or offering credit, has its own limitations, one of which is the inability to scale your business beyond the local level.
Pay Per Head Sportsbooks
It’s been some years now that neighborhood bookies have gone online to expand their business using a pay per head sportsbook like the one offered by PayPerHeadAgents.
Clearly, the times when local bookies took bets by hand in some hidden away back office connected to a phone line are long gone. The Internet has opened up a world of possibility for bookies.
Nowadays, you can direct your clients to your pay per head website where their bets are recorded, tracked and graded without you lifting a finger (except when it’s time to collect –or pay out).
As a local bookie, you’ll always have a big advantage over offshore sportsbooks because you let your players bet with credit. There are still plenty of people who don’t want to give out their credit cards or send money to an offshore place somewhere.
Owning your own pay per head gives you all the tools you need to run your sportsbook like a world-class casino.
But, wouldn’t it be nice if you could accept payments with as much ease as if you were using cash?
Wouldn’t it be great if you could have the advantages of a post-up sportsbook, but without having to deal with all the headaches of dealing with payment processors?
And, wouldn’t it be a dream come true if you could offer your players a safe, secure, and practically anonymous way for them to send you money week after week instantly at the push of a button?
Enter Bitcoin
What’s the big deal about Bitcoin? To put it simply, Bitcoin is cash for the Internet.
Consider this, if your clients could walk up to a teller and place a bet with cash and you could collect in cash, instantly, once the game is graded without ever having to do much else, would you agree it’s something that could help you? Yes, Bitcoin allows you to do just that.
Before Bitcoin, that was not possible on the Internet.
Bitcoin allows your players a safe, secure, nearly anonymous and instant way to fund their accounts to place bets.
It’s just like a face to face meeting where you take cash to place a bet and later on collect –or pay out – once the game is graded.
How To Bet With Bitcoin
The basics of funding a betting account with Bitcoin are simple.
First, you have to buy Bitcoin.
How? Easy, by going to what’s called a “Cryptocurrency exchange” where you can purchase digital currencies, among which are Bitcoin, in exchange for and out of your local currency.
There are many different exchanges you’ll find on the Internet, but one that’s popular is Coinbase.com.
When you open an account at Coinbase, you also receive an online wallet where you can hold your Bitcoin and through which you can send and receive currency, which is also free.
Signing up at Coinbase is much like opening a PayPal account, where you add your bank account to transfer funds back and forth.
Once you’ve purchased some Bitcoin, you need a “Bitcoin Address” which you’ll use to fund the account.
To receive a Bitcoin address, you would call Customer Service and request it. The address is sent via text message.
You should keep in mind this address is unique to each transaction, so each time you want to process a Bitcoin deposit you need a new address.
With this Bitcoin Address, you can go to Coinbase and buy the Bitcoin you want and send it to the address which was assigned to you by your sportsbook.
Once you process the transfer, make sure to contact Customer Service to confirm the transaction which only takes a few minutes or so.
You can then use it to bet on anything you want.
It’s the same process, but reversed, when you want to withdraw funds.
You go to Coinbase to get your wallet address and then to your sportsbook cashier to withdraw the funds that will be credited to your wallet.
Once your Bitcoin is credited to your Coinbase wallet, you will be able to sell the Bitcoin for any currency you choose including USD.
That’s basically it.
Simple, huh?
You can also create a separate wallet which you can carry around on your smartphone for mobile betting if you don’t want to have your wallet on Coinbase.
Some common wallets for smartphones are Mycelium for Android or Bread if you use iOS.
Here’s what you would do if you use one of these “middleman” wallets:
Buy on Coinbase.com account
Send to “receive address” on Mycelium, blockchain.info, or Bread wallet.
- Go to your sportsbook account, get deposit address
- Copy your Bitcoin address into Mycelium, blockchain.info, or Bread wallet send box
- Send bitcoin to your sportsbook account
- Bet using Bitcoin
- Go to withdraw on your sportsbook cashier
- Go to Mycelium, blockchain.info, or Bread wallet and copy “receive address
- Paste into withdrawing box on your sportsbook cashier, hit withdraw
- Go to Mycelium, blockchain.info, or Bread wallet and hit send bitcoin
- Copy wallet address from Coinbase.com account and paste it in
- Send bitcoin
- Sell bitcoin once it gets to Coinbase.com
Advantages of Betting with Bitcoin
If you’re still not clear on why you should be using Bitcoin in your pay per head business, here are just a few of the advantages:
There are no middlemen: This means that funds are sent “peer to peer” or player to the agent without any middlemen trying to get their hands on the money.
It’s also practically free or, at least, much cheaper than most other funding methods such as credit cards which charge costly transaction fees.
Payments are irreversible: Once they happen, it’s a done deal. There are no chargebacks and no one can block transactions from happening. This should give you as a bookie, and your players, peace of mind that nobody will be questioning gaming transactions.
Bitcoin transfers are practically instantaneous: Currently, most transactions take a few minutes to process. While they’re not exactly instantaneous, they do happen in less time than what it would take you to eat a taco.
It also means your players will get their withdrawals in much less time than what it takes with other methods.
The technology is safe: The entire Bitcoin currency is built on blockchain technology which is much safer than traditional methods such as the ones used by credit card companies which means a lot when it comes to attracting new players.
Low or no fees: There aren’t any withdrawal fees for Bitcoin payments, which is something that should make you happy as a pay per head agent because it helps keep the profits in your pockets.
This is probably the most important part about using Bitcoin to bet on sports, casino, or other types of gambling because the less money you have to pay on things like transaction fees, the more money you get to keep to grow your pay per head business.
In Summary
Bitcoin is faster, safer, less expensive and more private than all traditional funding methods available today. The security and privacy advantages that Bitcoin gives bettors make it the best way to fund their online sportsbook account.
With the growing acceptance of Bitcoin worldwide, as a pay per head agent, it’s practically a necessity that you offer your players the possibility of betting with Bitcoin.