U.S. sports betting industry warming up to crypto, but concerns remain

U.S. sports betting industry warming up to crypto, but concerns remain

Article brief provided by Sports Handle
  • Matt Rybaltowski, Sports Handle
July 28, 2022 10:52 PM
  • Matt Rybaltowski, Sports Handle

Despite a massive correction in the cryptocurrency market in recent months, the U.S. sports betting community is finally rounding the corner in its acceptance of virtual coins for wagering activities.

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As crypto becomes intertwined with more facets of daily life, proponents of virtual currencies in sports betting argue that the transition will be a vital tool in pushing bettors away from the offshore market. Barstool Sportsbook, for instance, recently began accepting cryptocurrency deposits into player gaming wallets via a third-party payment provider.

The option is available at Barstool in two states, including Colorado, where Gov. Jared Polis has designed a litany of creative methods for utilizing virtual currencies.