While it is not possible to trace the direct beginnings of betting in Dota 2, the game became very popular to wager on due to the fact that many people played it at a professional level similar to Counter-Strike (albeit with even higher prize pools). Another thing is the fact that tournaments featured high prize pools which often meant that the players would take the action more seriously than in other games, making teams possibly more consistent when playing. Some people also just wanted to bet on because it felt more team-based than some other eSports that existed on the scene at the time (League of Legends or CS).
Now that you understand the roots of Dota 2 gambling, we’ll introduce the most popular and convenient ways to deposit and withdraw your winnings in a fast and smooth way. Credit cards are common but also less secure with the most of the bookies (and also possibly incurring higher fees for the operator in the most cases), which is a big reason why a lot of sportsbooks simply accept cryptocurrencies like bitcoin as their main and only deposit method.
BTC is both secure, fast, and anti-deflationary by design, so it is less likely to lose value than other types of currency, and its blockchain and confirmation system allows for secure and also quick confirmations that allow transactions to be recorded essentially in stone. Some other services also do accept different cryptocurrencies like Litecoin, Ethereum or Dash, due to their different features like enhanced security or similar design but quicker confirmations, which could be profitable for the sportsbook operator.
Some other reasons to use Bitcoin for Dota 2 betting include just the fact that is anti-deflationary, which was explained in less detail previously. Because of this, you can hold your winnings after you decide to gamble and make a profit by simply sitting on your coins. A fun and also very interesting fact not many people know is that if one had bought coins anytime before the month of this article being published, that person would make a profit, no matter how little the profit might be.
This is one of the reasons why even non-gamblers should consider simply holding their coins; it can’t hurt, and based on historical evidence, it is actually quite profitable compared to other activities like trading or cloud mining, of which the latter could be possibly more risky than the first. Another reason to use Bitcoin is because it is almost anonymous if you use it correctly.
Unfortunately, today people can track down confirmations almost to the sender PC’s doorstep, but by utilizing tools like coin mixers, blockchain analysts will have a harder time tracking down your transactions and you will stay anonymous. This is especially useful if your country does not allow the use of Bitcoin (which is actually fairly common in many countries, something most people do not realize); the mixers make it more difficult to find out who is transferring the coins so you are less likely to be prosecuted or arrested because of your actions. Mixers also have very low fees most of the time, so there is a very little cost for security.
Compare that to the aforementioned credit cards, which are both insecure and costly, featuring things like interest and the ability to take all of your money away at any moment. Whether you’re on the run from the government or simply want other people to stay out of your business, security is important and Bitcoin has you covered. BTC also popular among sportsbooks mainly because of the fact that the coin is anonymous if the correct steps are taken to ensure that it is. If anything bad happens (license related problems for example), if coins are mixed and the trail is obfuscated, the house will likely be less traceable and take less responsibility for the action. Unfortunately, this does mean that the same service can disappear out of thin air, but taking precautions like never keeping coins on the site and reading reviews can easily secure you from the scam bookies.
Finally, Bitcoin is incredibly strongly integrated into the most of the new online casinos and a lot of old school gambling services have also it to their payment methods. Everything’s automated and quick, ensuring you get the fastest confirmations and the most security possible. Some bookies even mix their coins before sending, although most of them not.
As you can see, Bitcoin is incredibly useful to place bets on Dota 2 or any other competitive game. Without BTC, it is very likely that none of the popular eSports betting services would exist today. Because it’s so integral, it’s hard to do any proper gambling at all most of the time without using Bitcoin, unless you want to go through identification checks, costly money wiring or other time and money consuming actions.
Stick around with us for more eSports related articles and tips to help you win more! Good luck!