Bitcoin Price Betting - Monday, June 17, 2024 News Update

BTC Bitcoin Cryptocurrency Betting

BookMaker Bitcoin Betting

Bitcoin is the cryptocurrency that started it all. There are dozens of other cryptocurrencies you can use to deposit at BookMaker and hundreds more on the periphery, but Bitcoin is the most well-known of the bunch, and the only one your aunt Ethel and uncle Fred know. The coin that dominates the crypto space surged past $60,000 in March 2021 and might be poised for an even bigger run ahead of the holidays.

Monday, June 17, 2024, News Update

Bitcoin has dropped near the $65,000 mark over the past week and many people are asking the question: Is now the time to buy Bitcoin? One of the greatest investments to possess since the beginning of 2023 is Bitcoin. Its price has increased by around 300% in that time, outpacing the Nasdaq Composite Index's 69% growth. But since Bitcoin reached its peak in March, things have been quite volatile. The leading cryptocurrency is currently down 11% from its peak. Is it wise for investors to purchase Bitcoin at its current price of less than $70,000?

Case Against Buying Now

The most evident criticism of Bitcoin is probably that it might be outlawed in the United States, as it was in China. Some others believe that developments in artificial intelligence or quantum computing could lead to a breach in the cryptography of Bitcoin. All of these points are legitimate. And the longer the network exists and becomes more well-known, the higher those threats may be.

Case For Buying Now

Getting a whole picture of an asset requires comprehending the bear case. However, the bull arguments for Bitcoin are stronger. Spot exchange-traded funds, which facilitate the purchase of Bitcoin, have added more capital to the mix. However, the Securities and Exchange Commission's approval of these funds in January gave the cryptocurrency legitimacy. Years from now, when we reflect on this occurrence, it will likely be recognized as a turning point in the history of Bitcoin.

Another halving of Bitcoin occurred in April; this occurrence occurs approximately every four years and reduces the amount of new coins entering the market by half. This has always been the driving force behind Bitcoin. Investors who are bullish predict that Bitcoin may hit a new all-time high in the next 12 to 18 months. Additionally, investors want to consider what initially distinguishes Bitcoin as special. It is frequently likened to gold. For thousands of years, people have considered precious metals to be the best places to keep value. But there is a mathematical cap on the overall amount of Bitcoin, so there will never be more than 21 million coins. Additionally, Bitcoin has a simpler transaction value than gold and is simpler to transfer and keep.

But at $1.3 trillion, Bitcoin's market capitalization now stands at a mere 8% of gold's $15.7 trillion. In an increasingly digital, tech-enabled, and connected society, it's realistic to anticipate that the leading cryptocurrency will eventually be valued at par with gold. That implies a 1,100% upside.

The fact that Bitcoin offers an alternative to the debt-driven and inflationary fiscal and monetary policies that have defined the United States and other nations in recent decades is another reason why it is unique. Several economists have contended that this course is unsustainable.

If more individuals begin to believe those claims, it's possible that they will desire to hold a non-centrally bank controlled asset like Bitcoin. Since Bitcoin has a finite supply, its value could continue to rise as it has in the past while fiat currencies lose value over time. Purchasing some of this coin for less than $70,000 seems like a wise choice.

Bitcoin Weekly Price Per CoinMarketCap

June 17, 2024 65,681.86
June 10, 2024 69,346.83
June 3, 2024 69,384.47
May 27, 2024 68,929.23
May 20, 2024 67,097.94
May 13, 2024 62,811.16
May 6, 2024 63,321.99
April 29, 2024 63,513.72
April 22, 2024 66,391.01
April 15, 2024 64,465.15
April 9, 2024 71,912.80
April 2, 2024 68,641.42
March 26, 2024 70,121.49
March 19, 2024 67,287.32
March 12, 2024 72,295.01
March 5, 2024 66,548.57
February 27, 2024 53,419.20
February 20, 2024 52,057.41
February 13, 2024 49,546.53
February 6, 2024 42,541.37
January 30, 2024 43,061.49
January 23, 2024 40,406.51
January 16, 2024 42,433.84
January 9, 2024 45,009.74
January 2, 2024 42,728.28
December 26, 2023 43,396.24
December 19, 2023 41,366.73
December 12, 2023 41,752.77
December 5, 2023 41,720.85

Monday, June 10, 2024, News Update

Bitcoin has already exceeded almost all forecasts, estimates, and expectations during the previous 15 years. The value of the cryptocurrency has increased dramatically in less than ten years, from a few cents to over $50,000 by 2021, and it is now a global phenomenon. As of June 2024, its price is about $70,000. The next significant milestone is the much sought-after six-figure threshold. As unbelievable as it may sound, historical evidence indicates that a $100,000 price tag is becoming more and more likely. The actual query, though, is when Bitcoin will surpass $100,000. 2024 might be the year.

This kind of prediction is by its very nature speculative. However, some speculation might be constructive and make us consider the long-term prospects of an investment. It is essential to take into account the trends around the halving in order to predict Bitcoin's performance. The halving is a predetermined occurrence that takes place roughly every four years. It is the cornerstone of Bitcoin's strong monetary policy and cuts the reward for mining new blocks in half.

Over time, this mechanism effectively lowers the rate at which new bitcoins are created, which has historically increased the scarcity of bitcoin and raised its price. April 2024 saw the fourth halving of Bitcoin, which sent its inflation rate to just 0.85%.

We can develop our projection around the halving by taking a look at past halvings because it is evident how the halving affects the dynamics surrounding the supply and demand of Bitcoin. When Bitcoin experiences a halving, its price typically rises by 125%. A 125% increase in price would bring it to $99,000 if we base our calculations on the starting price of $44,000. With any luck, this halving will have the same impact as previous ones, meaning that by late in 2024, Bitcoin should be quite close to hitting $100,000.

But there's one more factor we need to take into account in order to increase the likelihood that 2024 will be the year that Bitcoin achieves six figures.

In contrast to previous halving cycles, this one features a novel element that can provide the cryptocurrency with the extra boost it needs to achieve $100,000: Spot Bitcoin ETFs. For the majority of its existence, ordinary investors like you and me have been the main forces behind Bitcoin's ascent. However, wealthy institutional investors can begin amassing Bitcoin without worrying about custody or regulations thanks to spot Bitcoin ETFs.

Institutions entering the market and making Bitcoin more accessible to regular investors who might not have felt comfortable purchasing it directly from a cryptocurrency exchange should put more strain on the cryptocurrency's supply. In actuality, the overall impact of this new Bitcoin exposure vehicle is already apparent.

The ETFs were purchasing around 900 bitcoins a day in February, which is ten times the daily manufacturing rate of bitcoin and contributed to the cryptocurrency's record high price. Even though the rate of purchase has since decreased, it's probably reasonable to conclude that this is just the beginning. More importantly, though, is that because of the just completed halving, ETF purchases would surpass Bitcoin's daily supply at a rate of 20 times higher if buying were to resume at present levels.

In summary, 2024 appears to be the year that Bitcoin hits $100,000. Its current price of close to $70,000 makes it an excellent possibility for a big 40% return. But we also need to remember that Bitcoin typically sees its biggest increases the year following the halving. In those years, Bitcoin has increased by an average of more than 400% when the full impact of the halving becomes apparent. 2025 would be a safe guess if, for some reason, Bitcoin doesn't reach $100,000 this year.

One thing is certain, regardless of when it occurs: continuous halvings, expanding use, and institutional support form a compelling argument for Bitcoin to continue shocking us for years to come.

Monday, June 3, 2024, News Update

Donald Trump has made history by becoming the first American president to accept funds for his campaign via the Bitcoin Lightning Network. The declaration highlights Trump's commitment to boosting Bitcoin's future in the US and is a critical milestone in the integration of Bitcoin into mainstream politics.

To make these payments possible, the Trump campaign has teamed up with OpenNode, a well-known supplier of infrastructure for Lightning Network and Bitcoin. Supporters can now use Bitcoin to donate to Trump's 2024 presidential campaign through the Lightning Network, a technology that facilitates quick and inexpensive transactions.

"OpenNode is proud to partner with Anedot to bring Bitcoin into the political donation process," OpenNode said to Bitcoin Magazine. "This is a perfect marriage of OpenNode’s leading Bitcoin tech stack and Anedot’s robust platform for political and nonprofit organizations. The Trump campaign’s adoption of our solution is a powerful proof-point of how political campaigns and nonprofits across the country can seamlessly accept Bitcoin donations."

Trump highlighted his commitment to creating a Bitcoin-friendly climate in the United States last weekend while speaking at a Libertarian Party convention. He declared that he "will ensure that the future of crypto and Bitcoin will be made in the USA" and that he "will support the right to self-custody for the nation's 50 million crypto holders."

Trump is a proponent of Bitcoin even outside of political contributions. In the same address, President Trump made the historic promise that, should he win the presidency, he would commute the sentence of Ross Ulbricht, the creator of Silk Road and an early proponent of Bitcoin, to time served. He declared, "He's already served 11 years." "We're going to get him home."

Being the first American president to accept Bitcoin for political contributions highlights Trump's larger approach to win over the nation's 50 million bitcoin aficionados and investors. The front-runner for president has further established his credentials as a progressive leader who values financial independence and technology breakthroughs by allying with the Bitcoin movement.

With Trump coming out in support of Bitcoin, current U.S. President Joe Biden has had to soften his stance on the cryptocurrency. Recent veto of legislation that would have been a major victory for Bitcoin by U.S. President Joe Biden further demonstrated his unwillingness to back the sector. The bill that Biden vetoed would have let Bitcoin and other cryptocurrencies to be held in custody by heavily regulated financial institutions.

However, staff members of Biden's reelection campaign started a cryptocurrency marketing program in earnest two weeks ago. They started modifying Biden's remarks to impending crypto legislation, such as FIT21 and SAB 121, and sure enough, the media started covering his new initiatives to engage the crypto community.

Speakers on the main stage at the biggest cryptocurrency conference of the year talked about Biden's shift in policy. Critics referred to the alteration as an "about-face." Even though Biden hasn't made any official announcements about changing his position on any particular cryptocurrency law and his reelection campaign is still refusing to take donations in cryptocurrency, it is obvious that his staff is trying to improve his messaging. Given Trump's complete 180-degree turn from "seems like a scam" to "I'm good with it," Biden appears ready to make a crypto-policy announcement that will gain him swing votes from the cryptocurrency community.

There are less than six months left until the country votes for a new US president. As a result of Biden's unambiguous identification of cryptocurrency as a key policy area to win over swing voters, millions of swing and single-issue voters may take his remarks into account when casting their ballots, but there is still no doubt that Trump has the edge in terms of swing voters who support Bitcoin.

Monday, May 27, 2024, News Update

It's safe to say that the much-awaited Bitcoin halving had, up until lately, mostly disappointed. When Bitcoin mining rewards were halved on April 19, the price of the cryptocurrency reached close to $64,000. Bitcoin moved sideways or lower over the majority of the following month, even falling below the $57,000 mark.

However, it's too soon to write off the halving's ability to raise the price of Bitcoin. Considering that most halving cycles last between 12 and 18 months, there is still plenty of time for the impacts of halving to materialize. What thus should we anticipate from this halving in the upcoming months, and how much higher may Bitcoin go?

The price performance of Bitcoin following the three previous halving occasions in 2012, 2016, and 2020 is the main cause for confidence. In every instance, the price of Bitcoin surged to an unprecedented level, creating a new record high. When the 2020 halving cycle ended, the price of Bitcoin had reached an all-time high of $69,000.

Naturally, prior performance does not guarantee future results. But it's understandable why so many analysts had anticipated significant increases in the price of Bitcoin this year. There had been three halvings prior to the 2024 halving, and each one resulted in enormous, disproportionate gains for Bitcoin.

There are several explanations for why the price gains of Bitcoin following the last halving have been so meager. The fact that market players had already factored in the impact of the halving is one possible explanation. If you accept the efficient market concept, then this makes a lot of sense. Investors had ample notice as they have known the date of the halving for the past four years.

The introduction of spot Bitcoin exchange-traded funds (ETFs) provides an additional explanation. The launch of these exchange-traded funds in January expedited the rate of increase in the value of Bitcoin. After the halving, Bitcoin usually reaches a new all-time high. This time, in mid-March, almost a month before the halving, Bitcoin reached a new peak. From this angle, the massive inflow of fresh investor capital at the beginning of the year caused Bitcoin to simply peak too soon.

You will therefore need to reevaluate your expectations if you were anticipating that the halving would make you an overnight Bitcoin millionaire. These processes require time. It can also take up to a year to fully realize the effects of the Bitcoin halving. Examine the incredible profits linked to the first three Bitcoin halving cycles in more detail. It took three hundred days or more to produce those striking outcomes.

The fact that some Wall Street analysts are actually raising their initial projections for Bitcoin prices is promising. For example, investment firm Bernstein continues to believe that Bitcoin will reach $150,000 by the end of the next year. That means that Bitcoin's current price of $70,000 will have more than doubled. And because of the extraordinary success of the new spot Bitcoin ETFs, Cathie Wood of Ark Invest now thinks Bitcoin will reach a $1 million price point before 2030.

You can see how well Bitcoin needs to do following the halving by delving into the metrics Wood used to create her initial $1 million price prediction. She projected 75% annualized returns for Bitcoin in a bull market scenario, which resulted in a price of $1.48 million by 2030.

Although those expectations may seem extremely high, they are generally consistent with Bitcoin's historical price behavior. For instance, Bitcoin generated annualized gains of 230% between 2011 and 2021. The value of Bitcoin increased by about 150% in 2023. And Bitcoin has already increased by 65% so far this year. Who says Bitcoin can't generate returns of at least 75% annually? The ultimate Bitcoin millionaire-maker scenario is still possible, even if it will require a lot of work.

Monday, May 20, 2024, News Update

The price of Bitcoin has increased dramatically over the last week, rising by 10% and surpassing $67,000, suggesting possible changes in the market's structure. This increase coincides with a number of economic developments and increased public interest in Bitcoin, as evidenced by recent spikes in ETF purchases. With Bitcoin continuing to trade above $67,000, it appears that a new market structure is taking shape. Buyer momentum appears to be building, as indicated by technical indicators such as the Awesome Oscillator (AO), which has entered positive territory, and the Relative Strength Index (RSI). Bitcoin may continue to climb above the $70,000 level and maybe retest its all-time high at $73,777 if it is able to close steadily above $67,206.

On the other hand, a retreat from this level would cause Bitcoin to drop 16% from its present levels and reach support levels around $63,354 or perhaps $56,000. For traders and investors alike, this turning point in Bitcoin's trading history might determine how the cryptocurrency develops over the next several months.

Currently trading at about $3,000, Ethereum (ETH) is looking at an interesting time. The continuous discussion about Mainnet income declines and the impending Securities & Exchange Commission (SEC) ruling on spot ETH ETFs are the main drivers of this expected rise. Analysts' views are divided as the crucial May 23 deadline for the SEC to review VanEck's spot ETF application draws near. The president of the ETF Store, Nate Geraci, contends that considering the SEC's previous approval of ETH futures ETFs, it might be difficult for it to reject the application. But there's also talk that the SEC might reject the application, in part because of current inquiries about Ethereum's securities categorization.

ConsenSys documents revealed that, despite approving ETH futures ETFs in September, the SEC began investigating Ethereum's status as early as April 2023, underscoring the challenging legal landscape Ethereum must operate in. With critical resistance located between $3,103 and $3,161, Ethereum is attempting to break through the $3,000 barrier. It could be challenging to overcome these obstacles given the weak bullish momentum that exists right now. With the SEC's upcoming judgment expected to reduce market ambiguity, the price corridor between $2,852 and $3,300 is crucial.

Furthermore, a short-term optimistic perspective is supported by a drop in ETH long liquidations and a minor increase in open interest of 1.97%. As the SEC deadline draws near, Ether option traders are preparing for more price volatility. A notable increase in implied volatility is predicted to occur around the time of the decision release.

Monday, May 13, 2024, News Update

The incredible rise of Bitcoin over the last fifteen years has been nothing short of extraordinary. Ten years ago, most people would not have believed you if you had told them that a single Bitcoin would be worth over $60,000. In those days, the digital currency was valued less than $500. While some people think $60,000 is an amazing high for Bitcoin, other people believe the price is going to skyrocket much further.

How far can Bitcoin go? Forecasting its future worth is obviously speculative and not a simple undertaking. Nonetheless, a few specialists have made audacious predictions. ARK Invest CEO Cathie Wood, predicts that the coin's value might reach $1 million before 2030. And former Twitter CEO Jack Dorsey believes that bitcoin will go as high as $1 million by 2030. Dorsey said in an interview with Pirate Wires that he thinks Bitcoin “hits that number and goes beyond.” He went on to say, “The most amazing thing about bitcoin, apart from the founding story, is anyone who works on it, or gets paid in it, or buys it for themselves—everyone who puts any effort in to make it better—is making the entire ecosystem better, which makes the price go up.” Dorsey has become an advocate for Bitcoin and has led many projects through the years.

The extraordinary journey of Bitcoin has been facilitated by a number of variables. The limited quantity and decentralized character of Bitcoin, along with growing awareness of the inflationary tendencies of fiat currencies, have stimulated investor interest and adoption. These characteristics have raised the value of Bitcoin over time by positioning it as a hedge against inflation and economic uncertainty.

The main selling point of Bitcoin is that it is a scarce asset. In the roughly 15 years that Bitcoin has been in existence, there will only ever be 21 million coins in circulation, with a programmed inflation rate that has never been altered. The price of a fixed asset increases in tandem with its demand.

This contrasts sharply with fiat currencies, which are the primary rival of Bitcoin. These currencies are continually losing purchasing power as a result of reckless fiscal and monetary policies, particularly in the US. The design of Bitcoin aims for a more regulated outcome.

The emergence of a stronger financial services infrastructure is another reason driving up the price of Bitcoin. The approval of spot ETF products in January was the most recent move in this regard. These have been incredibly effective thus far in attracting new investors to Bitcoin. Furthermore, it is possible to see the Securities and Exchange Commission's approval of the ETFs as a regulatory seal of approval.

There are several companies working on various Bitcoin-related goods and services, from Wall Street banks to tenacious start-ups. It follows that it is reasonable to assume that this asset will eventually find its way into more portfolios.

It's important to understand that the problems driving Bitcoin's rise aren't going away anytime soon when looking ahead. The case for Bitcoin's further rise is strong in a world where central banks are printing money at previously unheard-of rates and the idea of digital currencies is becoming more widely accepted.

It is unclear if the forecast by Wood and Dorsey will come true. The essential principles that set Bitcoin apart are still evident today, indicating that the cryptocurrency's journey is far from over. It's critical for investors to approach Bitcoin with cautious optimism, understanding both its promise and its perils, as they navigate the ever-changing cryptocurrency market. The extent of Bitcoin's potential rise remains to be seen, but one thing is certain: its influence on the financial scene is irrefutable.

Monday, May 6, 2024, News Update

Fifteen years after mining its first block in January 2009, the Bitcoin network performed its one billionth transaction. Interestingly, the day a Bitcoin address from the Satoshi era launched coincided with the network reaching this milestone. Data from the Clark Moody Bitcoin dashboard shows that on May 6 at 05:34 UTC+8, the network handled its one billionth transaction in block 842,241. In the fifteen years since its establishment, the network has handled 178,475 transactions each day on average. Some people said that no one would use Bitcoin, but today, the network handles daily transaction volumes that are on par with major payments giants.

This milestone also comes on the heels of Bitcoin's recent all-time high above $73,000 in March 2024. The excitement around the latest halving event plus new protocols like Ordinals and Runes have driven some of the surge in network activity. All told, April 23 saw a single-day transaction record above 926,000, and while volume has moderated from those highs, Bitcoin continues averaging 600,000+ transactions in May 2024. The cryptocurrency community celebrated the achievement and set its sights on the next billion target. Associate professor Tarik Sammour of the University of Adelaide noted that Bitcoin reached this significant milestone "securely, flawlessly, and without any centralized intermediary." In a similar vein, Bitcoin achieved this milestone in 15 years as opposed to 25 years for Visa.

Initially, the primary purpose of Bitcoin transactions was for users to transfer money amongst themselves. But with the introduction of cutting-edge protocols like Runes and Ordinals Inscriptions, that trend has recently shifted. The blockchain has garnered more interest and attention as a result of these assets, leading to increasing network activity.

For background, on April 23, the Bitcoin blockchain processed over 926,000 transactions, with over 90% of them originating from the Runes protocol. This was the largest daily transaction volume ever recorded by the blockchain. The introduction of spot Bitcoin exchange-traded funds (ETFs) in January of this year has also contributed to an increase in the volume of transactions processed by the network.

A long-dormant Bitcoin address that goes back to Satoshi Nakamoto's early inception has now been revived after ten years of inactivity. Early on May 6, the wallet that had 687 Bitcoin, worth $43.9 million, had its contents divided and moved to two different addresses. 625.43 BTC of this transaction went to an address that started with bc1qky, while the remaining 61.9 BTC went to bc1qdc. According to blockchain researcher Lookonchain, the whale originally acquired the 687.33 BTC on January 12, 2014, at a cost of $917.

Roughly $115 billion worth of Bitcoin is presently sitting idle in wallets that haven't been used in over a decade. Even though some of these wallets eventually activate for a variety of reasons, analysts predict that 1.5 million coins will remain lost indefinitely. The Bitcoin address given above is from the time that Satoshi Nakamoto created the cryptocurrency. In March 2014, he reappeared online to make it clear that he was not the Japanese American Dorian S. Nakamoto, who had become well-known after being featured in a Newsweek article that went viral.

Naturally, it is quite improbable that the transaction had anything to do with the enigmatic Bitcoin creator. Old wallets, however, have the ability to influence market movements because they may be connected to Satoshi. For example, 50 Bitcoins mined in the first month of the cryptocurrency's existence were moved to an unidentified wallet, which caused the price of the cryptocurrency to plummet significantly in May 2020. Analysts quickly deduced, meanwhile, that these coins did not belong to Satoshi.


In January 2009, Bitcoin was created by Satoshi Nakamoto. The identity of Nakamoto remains hotly debated to this day, but that person or group changed the world with this invention. Like many major breakthroughs, it took a while for people to grasp why Bitcoin was special. Bitcoin was created in the midst of the banking crisis, and one of its major goals was to give people another option to buy and sell products outside of a heavily regulated and centralized banking system.

The first entities to fully embrace Bitcoin were black market enterprises like Silk Road. For a while, Bitcoin became synonymous with the notorious website, but its use became more and more widespread starting in 2013.

That led to the price of Bitcoin skyrocketing and reaching incredible heights in 2017. On January 1, 2017 a single Bitcoin was worth $998, but that price rose by nearly 20-fold near the end of the year, hitting an all-time high of $19,666 on December 17, 2017. Bitcoin has left those prices in the dust in 2021, as the price of Bitcoin is approaching $50,000.


One of the major criticisms of Bitcoin is that the currency wildly fluctuates and that has proven to be true in 2021. As Bitcoin has become more accepted and understood, investors are getting a better understanding of what leads to price changes, and that has led to the Bitcoin market looking a lot like the stock market.


There have been fears over how secure Bitcoin is over the years, but transactions are even more secure as they are in the traditional marketplace thanks to blockchain technology.

Whereas we are constantly hearing stories of companies having their databases hacked and identities being stolen, the nature of blockchain presents this from happening with Bitcoin.

For a transaction to occur, the sender must know their private key and digitally sign the transaction, and the signature must be verified by the network using the public key. The number of private keys makes it nearly impossible to hack into another person’s account, but there is one thing to keep in mind. You MUST keep your private key backed up somewhere or else you will lose access to your Bitcoin. Don’t make the mistake of not backing up your private key and risk losing your hard earned money.

How do I buy Bitcoin?

You can buy Bitcoin by using one of the major currency exchanges such as Coinbase or Gemini. These exchanges allow you to use a credit or debit card or bank transfer to buy Bitcoin. You can then send Bitcoin to your sportsbook account and you can withdraw Bitcoin from your sportsbook account to your digital wallet. offers Cryptocurrency as an easier, cheaper, safer and more reliable option for deposits and withdrawals. BookMaker Sportsbook is now accepting more than 60 cryptocurrencies for daily transactions. Cash in on the crypto craze while taking advantage of BookMaker’s great Bitcoin bonuses!

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