Using Bitcoin for Sports Betting Without Losing Track of Exposure
Bitcoin adds price movement and transfer friction to an already uncertain market. Before reading about using bitcoin for sportsbetting, write the maximum loss in ordinary currency and keep the wallet record separate from the match record.
Choose one accounting unit
Record the token amount, exchange rate, network fee, and ordinary value at the time of every movement. A wallet can rise or fall while no bet is open, so a balance change is not automatically a gambling result. Use a simple ledger that shows deposits, stakes, settled returns, withdrawals, and pending transfers without relying on …
