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Bitcoins are transferred between your Bitcoin wallet (which these days is normally stored in the cloud) and the merchant you are paying, without the intervention of any financial services provider. Conversely, the more inaccurate your prediction, the more you lose. Offshore sportsbooks will let you wager on any sport from the comfort of your home. Any transactions will be clearly itemised on your bill to keep track of your spending, also. Which often ends up in a total loss of the inital stake.
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