Over the weekend, horse racing fans had a pleasure of watching one of the most prestigious races, the Kentucky Derby. Mike Smith and his horse Justify won the race and netted a $2-million prize. While the event was nothing less than thrilling, something else caught the attention of the Kentucky Derby bettors.
This year, besides the standard betting options, the Kentucky race accepted Bitcoin bets as well. 2018 is the first year that this fan-favorite horse racing event was officially taking Bitcoin payments. Sure, Bitcoin betting sites had this option for a long time. However, during this year’s derby, the visitors were able to place bets with Bitcoin right there at the racecourse.
The organizers claim that this is the biggest sports event that accepts cryptocurrency wagers right now. As for why they decided on this move, the officials stated that the horse betting community showed interest in this type of betting. Recently, Bitcoin and cryptocurrencies in general have been the go-to option for gambling and betting fans. They allow for much faster payouts and more secure gambling environments.
Hoping to break last year's record!
Last year the derby saw a new record high of $100 million in bets. And with the addition of Bitcoin, they hope to shatter that record. Even though the 2018 Kentucky Derby is over, the organizers still haven’t released the wagering stats. But knowing the popularity of both horse racing and cryptocurrencies, we are sure that some records have been broken.
Of course, Bitcoin gambling is still a long way from reaching the mainstream popularity of traditional gambling options. However, having a major sports event like the Kentucky Derby legitimizing betting with Bitcoin is a step in the right direction.