Fast withdrawals draw players to bitcoin operators

Fast withdrawals draw players to bitcoin operators

Monday, July 18, 2016
33% of SportsBet.io's bets were placed via mobile device

An online gambling operator believes that punters are flocking to bitcoin-based sites because they don’t have to wait days for their winnings to be credited.

SportsBet.io, an online sportsbook which uses the most popular crypto currency, launched earlier this summer and has seen plenty of attention across Europe and Asia for its Bitcoin operation and spokesperson Joe Jordan attributes that to the speedy service it offers winners.

He explained to TotallyGaming.com: “The most important thing for a punter is to get their hands on their winnings fast and with withdrawal times averaging just 63 seconds they won’t get any quicker than Sportsbet.io. We’ve seen Bitcoin users throughout Europe and Asia taking advantage of our great odds and fast withdrawals since launch.”

The Bitcoin sportsbook went live shortly before Euro 2016, and has already paid out in excess of 800,000 mBTC – more than half a million euros - to players.

The firm has seen more than 19,000 individual bets processed, with bets resulted in an average of 27 seconds. Interestingly 33% bets were placed on mobile, suggesting that cryptocurrency players are more likely to bet from a PC than mobile device.

SportsBet.io also has plans to launch a new lottery mechanism for the start of the new football season to ensure even more great prizes are given away in a provably fair and open manner.

Jordan explained: “As part of our desire to be an open and transparent Bitcoin sportsbook, we felt it would be nice to share some numbers with the community from our first month of activity. As the numbers show, it has been a hugely successful launch for both ourselves and many of our punters who have cashed big wins during Euro 2016. We look forward to offering more great Bitcoin betting opportunities throughout the summer and into the next football season.”

SportsBet.io launched last month and boasts over 350,000 pre-match events per year, with a peak of 70,000 events during prime months.

Totally Gaming Says: “Withdrawal times are fast becoming a key metric for some players who are frustrated at two hour delays in funds, never mind delays stretching several days. Players are also conscious these days that a delayed payout of funds could indicate that an operator is struggling to balance the books, so it is little wonder that they are attracted to near instant payours, even if it is via a relatively fledgling currency.”

Latest

iSoftBet strikes Superbet deal in Romania

Metric deals opens up new opportunities for Eurobet

Swush signs DFS deal with Danish Football Association

1on1 with Jonathan Power at Onionsack

Gaming Products & Services Directory

The essential directory for the gaming industry