Three Ways That Bitcoin SV Could Improve Online Gambling Crypto Transactions

A photo from the recent Coingeek conference that illustrated some of the utility of Bitcoin SV for a variety of purposes including business and online gambling.

Bitcoin is more than just a cryptocurrency. It’s the vision of Satoshi Nakamoto. That’s why it rivals any other cryptocurrency when it comes to scalability and serving the masses in every aspect of their lives, including both personal and business use cases related to peers exchanging value.

The fundamental principles Bitcoin SV subscribes to makes it the perfect coin to use for online gambling. We’re not just talking about the occasional gambler. We’re talking about the hardcore sports bettor, the gambling entrepreneur and everybody in between. The three reasons we are about to outline as to why gamblers and casino operators could opt to use Bitcoin SV.

BSV Fees Are Drastically Cheaper Than BTC, ETH

The average price of a Bitcoin transaction is around $1.30. Using Ethereum for an online wager will cost you just $0.60 (depending on Gas fees). Sounds pretty cheap right? Consider for a moment that Bitcoin SV by comparison will cost you just $0.0002. That’s thousands of percentage points cheaper than other leading options. Why is it like this?

Bitcoin SV aims to be the most scalable and financially friendly blockchain facilitating peer to be your transactions on the market today. The project is meant to keep micro-payments in mind. It makes sense for gamblers to because somebody looking to throw down $20 or $50 in value on their favorite team isn’t going to want to pay several dollars in fees to both make the deposit and then make a withdrawal on top of having to wait a few business days to see crypto get back into their wallet. Which brings us to another point…

Bitcoin SV is Faster Than the Rest

When Bitcoin mania presented itself to the world at the end of 2017 and the price skyrocketed to nearly $25,000 USD per coin, transaction fees went through the roof. More and more investors wanted to get their hands on some and together, they clogged up the blockchain. Bitcoin SV allows investors and gamblers to avoid those kinds of issues because its design is meant to move value from one party to another really fast.

In order for transactions to be validated, they need to be organized in blocks. A block size that is too small to provide scalability is a big problem. Bitcoin SV’s blocks can be much larger than Bitcoin or Ethereum. Bitcoin can only handle three transactions per second on average. Bitcoin SV on the other hand can handle 10 times that. No more having a last-minute transaction on Monday Night Football games go through to slowly for your winning wager to count.

Bitcoin SV Is for Betting and Business

Bitcoin SV it is designed to be a scalable solution for both gamblers and business people. Business interests and government regulation go hand-in-hand. In that sense, Bitcoin SV it is safer than other cryptocurrencies. It lends itself better to involving governments and discussions that will regulate the industry as a whole and inevitably position Bitcoin SV as a true leader in the space.

Consider for a moment that San Francisco-based cryptocurrency exchange Kraken is now a registered and properly chartered bank in the United States. As more crypto related businesses seek legitimacy, they will inevitably open up to working with governments rather than trying to skirt regulators. These trends are great for Bitcoin SV, gambling operators that want to use it to scale their offerings and gamblers that want to use it to transact faster and to save more on fees.

You can actually learn more about the Bitcoin SV ecosystem by checking out some of the free videos from the recent CoinGeek conference, which was broadcast worldwide from studios in New York and London.

The future of online gambling its here and Bitcoin SV could be a gateway that improves the gaming experience for both operators and players around the globe.

Jack Choros byline

Jack Choros

Jack first invested in Bitcoin in 2016 and continues to gamble with it to this day. He loves the Toronto Raptors as much as he loves cryptocurrency. Jack’s work has appeared on ESPN Radio, Yahoo Sports, OddShark.com and many cryptocurrency related publications, namely BTCGG.com.

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