Guest Post

Sports Betting with Cryptocurrency Works, but What About Payments to Sports Stars?

Written by: Coinpedia

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Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: [email protected]

    Jul 3, 2020


    Cryptocurrency as a whole has been growing considerably over the years since its inception, and today it is used to pay for a multitude of things. Even in the betting world, Bitcoin, Ethereum, Dash, and other digital currencies have found themselves becoming more acceptable as a payment method for such. You don’t really need to look far to locate a platform that supports cryptocurrency payments from its users.

    And as it happens, you can locate some of these sites at online review platforms as well. You need only browse through for example, and you’ll be able to locate a sportsbook which allows you to transact in your favoured digital currency.

    That site is also very handy to use when it comes to locating a recommended online bookmaker as well, because expert reviewers have analysed all parts of the sportsbooks and given honest, unbiased opinions about such.

    Bitcoin and its other cryptocurrency buddies provides bettors with a safe and swift payment method to make use of, and it has taken quite the hold with US gamblers, who are blocked in a number of ways when it comes to funding online betting accounts.

    Cryptocurrencies aren’t attached to any central financial institution, so this doesn’t affect them in the same way. Therefore, many people have opted to use such digital currencies, which have also been noted as safer than many standard fiat transactions, providing quicker deposits and withdrawals and being free of charge to use.

    Players Want Payment in Cryptocurrency, Too

    And while sportsbooks are affording their bettors the opportunity to transact in these digital currencies, it seems as though sports stars are also intent on taking advantage of them, too. As sports betting shops and online sites re-open their services to the public, various stars have spoken out about how they could also be paid in the digital currency.

    It was Russell Okung of the Carolina Panthers who first spoke out about receiving his salary in Bitcoin – an announcement he made on Twitter with a simple Tweet. The offensive tackle suggested that he would be fine to receive his payment in Bitcoin.

    And it’s not only the NFL that has had players state that they would like to have the cryptocurrency feature a lot more in their league, as several stars from the NBA have also made the same statement.

    In 2014, the Sacramento Kings became the first American sports team to accept Bitcoin transactions for both ticket and merchandise purchases, while the Dallas Mavericks followed suit in August of 2019. It remains to be seen whether any sports teams will allow their players to receive their payments in cryptocurrency, as this is something yet to occur anywhere across the United States.

    As it happens though, NFL quarterback Matt Barkley, who currently plays for the Buffalo Bills, was revealed to have requested two of his former teams to pay him in Bitcoin.

    According to entrepreneur and investor Anthony Pompliano, Barkley had asked the San Francisco 49ers and the Cincinnati Bengals to pay each of his contracts with them in Bitcoin. However, neither team allowed that to happen. Barkley himself would later go on to reveal that he already mines his own Bitcoin, too.

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    Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: [email protected]

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