Any Bookies Wondering How Bitcoin Works?

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When it comes to sports betting, making payments needs to be quick and simple.

There's nothing worse than a player you've worked hard to win walking away because of an unsuccessful transaction.

That's probably why almost half of all Bitcoin transactions are gambling related nowadays, because more and more bookies are opting for simplicity over standard methods like wire transfers.

Not to mention you don't even need a bank account to use Bitcoin.

One thing you have to keep in mind is that not all platforms offer Bitcoin yet.

At PayPerHead.com, we added Bitcoin 6 months ago to get it streamlined for you well in advance of the NFL season. Check out all our payment methods and right now you can even have your choice of September free or a locked in price of $3 per head.

If you haven't given Bitcoin a try yet you should, and here’s why.


First things first, what is Bitcoin?

Consumers were still pretty hesitant about this new concept of CryptoCurrency when Bitcoin rolled itself out to the general public.

But it has since found a strong footing in the gambling business and promises to become even more popular in the future.

It's hard to tell sometimes whether these new advancements are just flashy trends or actual industry innovations, but I think this Bitcoin business is for real.

For one, there are actually over 700 AltCo implementations that could be called CryptoCurrency. You just probably haven't ever heard of most of them.

But one thing the numbers can't deny is that Bitcoin has become arguably the most preferred payment method for gamblers.

So give the people what they want!

Is Bitcoin Best for Bookies sm.jpg

If you're still not quite sure what Bitcoin is, basically...

It's an online payment system that uses digital money to purchase things electronically
A bitcoin is literally a form of currency, just like a dollar, euro, peso etc.
The only difference between it and real currency is that it's digital and can't actually be printed and exchanged physically

Now you know!

So why should you use it?


4 Reasons Bookies Should Use Bitcoin

1. Added Security for Your Players - a player's address, name and any other personal info isn't linked to their bitcoin address making it safe, secure, and anonymous.
2. Financial Freedom - Bitcoin isn't owned or controlled by a typical bank. That means you won't be stuck paying any bank fees or have any freezes put on your account, so in other words, total financial freedom!
3. Almost Instantaneous - It's about as close to instant as you can get. Transactions take a couple minutes to process then you're done!
4. Mobile Friendly - Players can make their payments from anywhere in the world when they have their mobile device. That's right, you can make Bitcoin payments from your smartphone people!


Get Started!

Like I said before, not all per head platforms are offering Bitcoin yet so make sure you look into their payment options before signing up.

If you’re looking for a company with experience in CryptoCurrency, at PayPerHead.com we can get you set up in just a few days with the most payment options on the market.

Don’t forget, if you do it now you can still get September free or a special set price of $3 per head.

Now that you know the Bitcoin basics, you can start offering it to your players to streamline their betting process and make life simple.
 

no risk no reward
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i think you gotta goto to one of them bitcoin exchanges and actually sell your bitcoin to someone looking to buy... thats the only thing thats been holding me back from using bitcoins. i dont have a bank account at the moment, so i dont have anywhere for buyers to wire funds
 

RX Senior
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i think you gotta goto to one of them bitcoin exchanges and actually sell your bitcoin to someone looking to buy... thats the only thing thats been holding me back from using bitcoins. i dont have a bank account at the moment, so i dont have anywhere for buyers to wire funds

Forget about bitcoins for the moment. Get a bank account. They are a good thing to have to establish yourself. Ex. direct deposit payroll, credit score, etc.
 
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Call me Old Fashion, even call me Old ... but I never will do this Bitcoin thing...
 

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Call me Old Fashion, even call me Old ... but I never will do this Bitcoin thing...
i have skepticism as well, but if one could convert all their bookie business to bitcoin, I think the risk of ever getting in trouble would go way down
 

RX Senior
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Call me Old Fashion, even call me Old ... but I never will do this Bitcoin thing...

Yea, just reloaded with MoneyGram for the first time in about two years or so with no problems.

However would have to give bitcoin a closer look if MG ever shut me down.
 

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Tell that to the Owner of Silk Road :)

selling drugs that still need transported is completely different.. silk road was only a matter of time from the jump.

One's a product, the other's a service... no transporting of products.. no tracking numbers.. and if the law hasn't figured out how to say bitcoin is money, then they would have a tough time prosecuting any bookie that did go down if all they had was bitcoins... in my limited-to-no-knowledge of the laws
 

BEERFORCE 1
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Well...the explanation looked more like someone trying to advertise bitcoin. Razorbackpicks has a good question that I myself am asking.
 
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To me it appears someone trying to start a currency with a ****** system but lacking the part where they can send it in to your bank account. In my opinion it needs to be backed by something of value. What happens if Bitcoin crashes? Didn't their Ceo just get detained in Japan? What if you have 15,000 k in Bitcoin and wake up Monday morning after a good weekend and no one wants to buy a bitcoin from you?

waaaaayyyy too many loopholes and I've never seen the part of the transaction where I gain a true value be it dollar, gold etc. gotta go back to ancient bartering days thinking here
 

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To me it appears someone trying to start a currency with a ****** system but lacking the part where they can send it in to your bank account. In my opinion it needs to be backed by something of value. What happens if Bitcoin crashes? Didn't their Ceo just get detained in Japan? What if you have 15,000 k in Bitcoin and wake up Monday morning after a good weekend and no one wants to buy a bitcoin from you?

waaaaayyyy too many loopholes and I've never seen the part of the transaction where I gain a true value be it dollar, gold etc. gotta go back to ancient bartering days thinking here

I mean point taken, but do you really think the dollar is backed by gold. no. It's just a piece of paper, granted the greatest country in the world stands behind it. but bitcoin worth has been about the same all year
 
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I mean point taken, but do you really think the dollar is backed by gold. no. It's just a piece of paper, granted the greatest country in the world stands behind it. but bitcoin worth has been about the same all year

No we have not been on the gold standard for many years now. But you don't see Obama trying to introduce a new currency, and if he was it would need something to back it. Sure, the US dollar is not backed, but the day it's worthless so will everything else be. Bitcoin could be worthless when the US world wakes up.
 

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No we have not been on the gold standard for many years now. But you don't see Obama trying to introduce a new currency, and if he was it would need something to back it. Sure, the US dollar is not backed, but the day it's worthless so will everything else be. Bitcoin could be worthless when the US world wakes up.

haha, yeah i'm definitely not arguing that bitcoin is as stable as the dollar..

but i think losing all your bitcoin worth overnight is rather radical. As a bookie I wouldn't be having all my assets in bitcoins just sitting there, but converting it to bitcoins to payout, and having all your clients pay in bitcoins seems rational and rather safe
 
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haha, yeah i'm definitely not arguing that bitcoin is as stable as the dollar..

but i think losing all your bitcoin worth overnight is rather radical. As a bookie I wouldn't be having all my assets in bitcoins just sitting there, but converting it to bitcoins to payout, and having all your clients pay in bitcoins seems rational and rather safe

If bitcoin made it simple and fast to cash, meaning if I was paying to receiving payment and could convert to a dollar in a matter of seconds then I would tend to agree with you.

And I'm making these statements not understanding bitcoins, and I've tried to research it.
 
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If bitcoin made it simple and fast to cash, meaning if I was paying to receiving payment and could convert to a dollar in a matter of seconds then I would tend to agree with you.

And I'm making these statements not understanding bitcoins, and I've tried to research it.

Having bitcoins without converting them to USD for more than 3 days is a total risk IMO... price has been dropping steadily and it's really hard to tell if it will ever have another bump, is not giving great confidence ATM
 
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As I asked this in another thread with no response:

08-26-2015, 06:34 PM
What is this stuff I'm reading about taxes and bitcoins? Are you issued a 1099? Does coinbase report this info to anyone? Across the street someone said its a tax event as soon as you buy? That you have to record anything you bought with it and then base it off of what its original value? WTF?

Im sure someone here knows a lot more than me or had some experience?​
 
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I was ready to hop on the Bitcoin train for this season, but not after some of the stuff I read and havent had answered.. And doesn't 'seem' as anonymous as people make it out to be.
 

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