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Sports Betting – a practical application of the advantages of crypto tech

One of the biggest blows to have been dealt to the emerging crypo technology, known as the block-chain, was indeed that of the value of Bitcoin falling quite spectacularly following its colossal rise. Anti-crypto advocates, such as those people whose positions in the financial sector have them making money for nothing, have been very quick to jump on the bandwagon that seeks to discredit crypto-currencies. They have a point – Bitcoin did fall rather spectacularly and in so doing it exposed some of the pitfalls of what is the proposed, more open way of handling finances, taking power away from the established players who are running the mainstream, centralised monetary system.

These guys in the like of bankers and such are only really protecting their own interests though.

Some very interesting revelations about the underlying block-chain technology come into focus when we dig a little deeper and realise that Bitcoin, as a cryptocurrency, was a very necessary project that is still ongoing. Bitcoin is very much still alive and it may very well be the cryptocurrency of the future, but either way, cryptocurrencies are going to be the preferred means of exchange of the future.

Bitcoin and other cryptocurrencies were necessary parts of the process of bringing attention the underlying crypto tech, which is the public ledger system known as the block-chain already referenced. You see, the world needed something that has the buy-in of everybody in order to bring attention to the underlying technology. There wouldn’t be enough of a critical mass paying attention to the block-chain if one of its uses didn’t involve the one thing which enslaves us all on some level –money.

So cryptocurrencies themselves are just one practical application of crypto tech and its advantages, with sports betting coming into focus as another practical application. I cannot stress enough that it’s all about the underlying block-chain technology.

So how are sports betting sites a practical application of the advantages of crypto tech?

On the most basic of levels, the fact that sports betting sites such as those listed on accept Bitcoin as a form of payment, ratifies the value contained in cryptocurrencies such as Bitcoin. That’s on one level, though. Going a little deeper, the world is probably just waiting on any one of the sites listed on the referenced guide to start implementing block-chain technology into the core running of their technical betting platforms. Many more sports betting sites will naturally follow suit, or perhaps even pioneer ahead of the ones listed in the guide.

At the moment sports betting makes for one of the best ways through which to try one’s luck at winning big bucks, with traditional casino games such as slots making for another alternative, while yet another alternative is trading something like CFDs. With sports betting, a block-chain-like public system is used to keep track of bets, results and winnings, so if for instance you don’t win then you know exactly why you didn’t win (the team you chose didn’t win). As a result the scene is perfectly set for cryto tech to be officially implemented as the core technology running these online betting platforms.