Is Crypto Sports Betting Dead?

In the recent years, crypto sports betting has been a big talking point. Many new sportsbooks every week and the bettors just piled on. But, as of recent it has seemingly died down after 2020, with less and less people interested in crypto sports betting. Are there any signs that crypto sports betting is dead, and why is that?

Legality

Many states such as Florida, Maine, Nebraska, California, and Ohio have made sports betting illegal, but is currently pending legalization. The legailty in sports betting have always been a factor into the popularity of sports betting. Maybe after the legalization passes, the interest will grow.

Sportsbooks

Many sportsbooks run away with their hidden fees and unfair odds. Many sports betters quickly realize their wins get reduced to these hidden fees and take their money somewhere else. This makes sports betters unmotivated, which can factor into the popularity of sports betting.

Sportsbooks ban big winners

Like many casinos, sportsbooks often ban the bettors making loads of profit. This is a common practice with sportsbooks where the licensing is faulty and bad. That’s why it’s very important to register for the right sportsbook for you. Check their reviews and our own words on the sportsbooks.

What does the numbers say?

According to Statista sports betting makes up between 30% and 40% of the annual global gambling market. The global gambling market is worth $500 Billion, which is quite a big deal. Many sportsbooks handle up to $100b in trades annually which is also an impressive number. Recently, the number has been twindling, with the gambling market being hard to value, due to the huge amount of online bookmakers and casinos.

Conclusion

With the huge number of online sportsbooks and bookmakers, it’s hard to track the popularity of sports betting. To say the least, there are many new online sportsbooks with better fees and odds than ever. The decentralized sportsbooks have recently been exploding with sites like BetDEX. For more information and betting tips, check out our other articles.

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