Which Is Better ?C Bitcoin Investing Or Sports Betting?

December 17, 2019, by Toby Banks

Bitcoin Investing vs Sports Betting

Bitcoin, as well as sports betting, are often seen as smart, but risky forms of investments. They’re similar in some ways and very different in others. They’ve both recently gained popularity among the online community, and their prominence isn’t likely to die down any time soon. They are both potentially incredibly profitable and aren’t to be taken lightly. But which is the smarter financial decision to make, and why? Do the benefits of either outweigh their risks? Read on to find out!

Bitcoin Versus Sports Betting

Over the past couple of years, there has been a rise in the number of sports betting as well as cryptocurrency enthusiasts. While they are different from each other, sports betting can be seen as an investment, and that is the view we will adopt for this article. Let’s take a look at which one is better.

1. Getting started

If we were to hypothetically imagine that a person who has no idea about how bitcoin or sports betting works, which would be easier to understand? If we were to pick, we’d say a newbie would be able to grasp the concept of sports betting quite easily. All they would need is a thorough knowledge of the sport they’re betting on and some decent arithmetic skills, and they’re pretty much set.

Cryptocurrencies might be a little more difficult for a beginner to wrap their head around, mostly because it is a full-fledged medium of exchange that is intangible and decentralized. It takes time and effort to understand all the nuances of blockchain, and mining would involve solving computational math problems so complex that a calculator won’t suffice. When it comes to simplicity, sports betting comes out on top.

2. Stability

Since Bitcoin was created in 2008, its value has substantially increased. In 2010, it was worth around $0.003; today, one bitcoin is worth around $8,250. That’s quite the rise if you ask us. Bitcoin has seen its fair share of fluctuation, however. At one point in 2018, Bitcoin lost half its value, dropping from $13,800 to $6,200.

Your profits from sports betting, on the other hand, are not stable due to the unpredictable nature of sports as well as betting. You could have a great winning streak, but go and lose all of it on one unsuccessful bet. However, there are still other ways to minimize your losses.

3. Regulation

Every single country has at least some regulations on sports betting. Some nations ban it altogether. Residents who live in such places will often have to use proxies and VPNs to bypass bans, restrictions, and firewalls. Gambling in some countries could be a criminal offense, and those who partake in it could face the consequences if they are caught.

Bitcoin is completely decentralized. Blockchain, for instance, is a peer to peer network where all transactions are legitimate and transparent. Your transactions aren’t monitored by a centralized third party, and there is no for any type of fraudulent transactions due to the presence of bitcoin miners, all of whom are a part of the peer to peer network. However, regulation on bitcoin is still in its infancy and not clearly defined.

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