Britain: Where You Can Bet on Bitcoin but Can't Use It to Pay Your Taxes

If buying bitcoin isn’t a big enough gamble, there’s another way to wager with it – by betting on which merchant will be next to accept the digital currency. One British bookmaker has released odds on a range of big brands accepting bitcoin including McDonald’s, Walmart, and Amazon. Factor in margin lending and futures trading, and there’s never been more ways to bet with bitcoin.

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Super-Sized and Decentralized

British bookmakers are fond of issuing novelty bets. It’s a means of drumming up free publicity and luring in punters who aren’t normally prone to gambling. From the odds of the Queen dancing to Gangsta’s Paradise to the likelihood of Andy Murray swearing at Wimbledon, nothing is too whacky. Despite the inanity of the bets, the odds are genuine, and thus indicative of the probability that the event will occur. Every year, scores of Britons take bookmakers up on their novelty offers and have a flutter.

The odds of McDonald’s accepting bitcoin before the end of 2018, for example, are 1/2, according to bookmaker Betway. In comparison, the British bookie is offering 1/5 on Walmart following suit, 6/4 for Amazon, and 5/2 for Apple. Given that bitcoin is moving away from everyday transactability to wealth storage, shrewd bettors may decide it’s more prudent to hold onto their money rather than risk it.

Britain: Where You Can Bet on Bitcoin but Can't Use It to Pay Your Taxes

Despite offering bets on the probability of various bitcoin-related events coming to pass, Betway doesn’t allow its own casino customers to wager with the digital currency. Even if it did, it’s hard to imagine Read More Here