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Bookmakers and agents in the states of Georgia, Alabama and South Carolina can now pay clients via bitcoin and never have to worry again about carrying large wads of cash, sometimes in sketchy neighborhoods.
None of these states are particularly fond of gambling, so Gambling911.com is of the belief that none of them will offer full sports wagering in any establishment within the next three years. Georgia and South Carolina do not even have casinos.
Each of these states have very large College Football fan bases. But even a state like New Jersey, which is among the first to embrace sports wagering and online gambling, prohibits sportsbooks from taking bets on the two big local college teams: Rutgers and Seton Hall. As such, a state like Alabama will probably never allow wagering on the Tide or Tigers. Forget betting Clemson to win the College Football Championship in South Carolina.
Bottom line, bookmakers and agents will be in high demand in these states should the first sports book sets up shop. The need to offer a top-of-the-line Pay Per Head platform with cryptocurrency options is essential to their growth and prosperity.
1. Bitcoin and other cryptocurrencies are peer-to-peer
With no middle man involved such as a credit card company facilitating the transaction, they are less penetrable and more private.
2. Sports bettors, all players, are switching to Bitcoin or other cryptocurrency
Over 60% of sports bettors now deposit via Bitcoin.
That number should be closer to 70%, PayPerHead.com suggests.
The reason has nothing to do with gambling laws. What it has to do with is privacy.
3. Over 80% of sports bettors withdraw in Bitcoin
Sports bettors prefer to remain anonymous throughout the betting process. That includes depositing funds and making wagers. It also includes withdrawing funds.
The 80% number is a real number.
When an agent thinks about it, it makes sense. Why would a sports bettor want to receive payouts in a traditional currency?
Traditional currencies are regulated.
4. Eliminating last of the "risk" aspects of bookmaking
Digital currency is transferred across the Net securely. No more carrying around wads of cash and risk being robbed or arrested. While the Pay Per Head previously removed much of the liabilities associated with a bookmaking business (the wire room, records keeping, actual bet taking - all of this is now done by the PPH outside the US), money collection and payout was still primarily the local bookie or agent responsibility. Cryptocurrencies have helped in this regard.
- Aaron Goldstein, Gambling911.com
