Bitcoin Sports Betting Kicks Off for Brazil World Cup

Bitcoin Sports Betting Kicks Off for Brazil World Cup

The World Cup is already in full swing, and now Bitcoin users can use the digital currency to place bets on their favorite teams. The digital betting platform called Bitkup will now become available for sports betting fans to place bets on the outcome of the Brazil World Cup 2014.

Gustavo Araujo of Brazil and Oriol Franquesa of Spain founded the platform in order to bring mainstream awareness of Bitcoin using the World Cup.

Araujo commented, “We created Bitkup [...] for people that just want to have fun and try their luck with predictions for the World Cup.”

Bitkup relies on a public wallet for its prize money pool, called the Bitpot. During bets, anyone can observe the betting pool as the Bitpot accumulates money. Those participating in Bitkup place bets on different matches and receive points. Players who receive the most points win various prizes.

world cup teams

world cup teamsBitkup players consist of two different pools including the Pro League which costs 0.5 BTC. The winning Pro League player receives half of the pot, the second place winner gets 15%, the third runner up gets 13%, and so on up to the top 20 players.

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