Guide to Bitcoin and Crypto for Bookies

Are you a bookie that is thinking of setting up a pay-per-head sportsbook site? If so, then you are probably thinking about how to accept and make payments. For those used to working in the offline world, it can be tricky to figure out the best way to go about it. But don’t worry, Bookie Helper is here! Read our bitcoin and crypto guide for bookies.

What is crypto?

Crypto is a shortened way of saying cryptocurrency. For those who don’t know, cryptocurrency is a digital and secured currency with cryptography. Any transactions made with cryptocurrency are verified digitally and recorded on a completely decentralized ledger. This means there is no need for a bank or a third party to be involved. Furthermore, once the transaction is complete and registered on the blockchain ledger, it cannot be edited, deleted, or tampered with in any way. This means they are extremely secure and can be traced with significant ease.

Cryptocurrency transactions can also be enacted across borders and within seconds, costing a fraction of what bank transactions can cost. There are many kinds of cryptocurrencies, including bitcoin, ether, ripple, tether, cardano, USD coin, or stellar.

And Bitcoin?

Bitcoin is one specific kind of cryptocurrency. It was the first major cryptocurrency globally, and nowadays, it remains the most well-known. It is a decentralized digital currency that runs on the blockchain. Each transaction using bitcoin is verified through cryptography and registered on the blockchain. It was created back in 2008 by a still-unknown individual who goes by the name of Satoshi Nakamoto. While it has been criticized for its volatility and issues around security and financial crime, it is going on to enjoy widespread global use.

Currently, thousands of merchants around the world accept payment in bitcoin, and many more will do so in due course. Additionally, bitcoin has inspired thousands more cryptocurrencies to be developed in what is now a multi-trillion-dollar ecosystem.

What can bookies use bitcoin and crypto for?

There are two ways cryptocurrency can be useful to bookies. They are when making payments to your per-head provider and when taking payments from your players. At BookieHelper, you will need to top up your pay per head bookie software account so you can provide the service to your players. We charge a small fee per active player per week. This can be paid to us via various methods, including cryptocurrencies such as bitcoin. You make the transfer to us, and we credit your account with the equivalent in fiat currency. When your deposit starts to run out, we will notify you, and you simply make another transaction.

When taking payments from players, BookieHelper does not get involved. No payments are facilitated through our platform. Instead, you make arrangements with your players yourself using methods that suit you best. This gives you more freedom and more privacy for both yourself and your players. Cryptocurrency is a popular payment method for several reasons, which we will explain below.

Should bookies use bitcoin and crypto?

There are a number of reasons why bookies should use cryptocurrency when offering per-head sports betting services. Here are just some of them:

• Crypto transactions are immutable and cannot be deleted, reversed, or tampered with once they have been sent
• Crypto transactions are easy to trace and verify
• They can cost less than fiat transfers via banks or payment gateways
• They can be processed in a matter of seconds
• They can take place across borders with no hindrance
• They are pseudonymous, providing privacy for the player
• They do not pass through any centralized institution and therefore are not accountable to any authorities
• The responsibility in terms of declaration lies with the player and you as the bookie
• BookieHelper has no input or oversight of any financial transactions made between bookie and player, whether they are crypto or fiat.

Learn if Crypto Gambling is Legal for Bookies

How can I start using bitcoin and crypto?

At BookieHelper, as mentioned, we do not get involved in your payments. However, we can advise you on how to go about this. For example, if you are a bookie that wants to open a per-head bookie site with us, we can provide you with some guidance and advice to help you with payment matters. We have worked in this sector for two decades, and our team is highly trained professionals that are experienced in working with bookies such as yourself. This means we are on hand to provide you with the guidance you need to take steps toward becoming a successful online bookie.

Just fill out this simple form, and a member of our team will be in touch in due course to guide you with bitcoin and crypto through every step of the process.

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