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Taking a Punt on Motorsports

March 22nd, 2018 by admin

As with any competitive sport, one great way to get involved and make it even more exciting is to put some money on the outcome. Most online sportsbooks offer odds on outright winners of the major competitions such as NASCAR and Moto GP. If you fancy taking a punt on Formula 1, you have the option to bet on either the Drivers or the Constructors Championship.

When betting online, one of the most important things to consider is how you will make your payment. If you find a sportsbook offering very attractive odds, don’t be tempted until you have checked out what payment options they offer. Here we’ll take a look at some of the common payment options to use when betting on motorsports.

Debit or Credit Card

These are still the most popular ways to make a deposit and receive winnings when you make a motorsport bet. Both methods have their advantages and disadvantages. Credit cards may offer rewards for making online payments, such as air miles or loyalty points. The downside is that it is harder to keep track with a credit card, and there are interest charges if you don’t pay the balance off on time. Debit cards take money directly from your account, so there’s less chance of going into debt, but there are no rewards on offer.

Cryptocurrency

A new way to pay on some sportsbooks is through a virtual currency such as Bitcoin. There are a few advantages to using this method where it is offered; fewer regional restrictions, much less personal information and as a result less chance of identity theft, and lower charges. The downside is the volatile nature of these currencies, which can see fluctuations even within a single day.

Digital Wallets

Commonly known as e-wallets, these are convenient and secure providers that allow you to transfer money quickly and safely online. They can also speed up the verification process for online sportsbooks, as other identifying information can be securely held in the e-wallet. One big advantage of this method for motorsports betting is that they are usually subject to much shorter transaction times.