Betting guide: How to start Bitcoin sports betting

Cricket

Cricket is one of the most popular sports Indian punters bet on. It’s an incredibly strategic game that will keep you on the edge of your seat as you watch the matches. That’s exactly why it’s one of the most thrilling sports to bet on.

If you’re a fan of this bat-and-ball game, then you can take part in the thrill when you wager on the outcomes of a particular match. Visit your trusted sportsbook during the Cricket season and place your wager on the best possible team to win.

Football

Football or soccer is a beloved sport across the world that involves two teams composed of 11 players who will compete in bringing the ball to their respective goalposts. Though it may sound simple in explanation, the game itself is one of the most action-packed sports games in the industry.

If you’re a fan of the sport and you’re great at predicting the teams that emerge victorious, then you should place bets and win alongside the winning team. Some top tournaments that football punters wager on include the FIFA World Cup, UEFA Champions League, Women’s World Cup, and more.

Horse Racing

Another popular sport you can wager on in India is horse racing. It is a gruelling sport put on a riveting spectacle as horses and their riders attempt to be the first to cross the finish line.

This heart-wrenching sport is incredibly thrilling to wager on since it’s difficult to predict the outcome. Although it’s easy to see which of the horses and their riders have a good performance, most matches still end on a narrow margin, which makes the game nerve-racking but fun to watch.

Moneyline

When it comes to different types of sports bets you can make, Moneyline is arguably the most popular among them. When placing this bet, it simply means you’re putting your money on a specific team to win the match.

To give you an example, say you’re betting on a football match between the New York Yankees and the Kansas City Royals. If you’re a Yankees fan and predict they will win, then you’ll bet on their Moneyline. If they win, you win your bet.

Point Spread

The Point Spread betting system is a tad more complex than the Moneyline. Instead of simply betting on which team will win, you’ll be betting on the team’s margin of winning. That means you have to be correct on the margin of their win to claim your bet rewards.

With the Point Spread, you’ll typically see a ‘-’ sign on the favoured team and a ‘+’ on the underdog. For example, say the match is:

Team A +7.5 vs. Team B -7.5

When you bet on a Point Spread, this means that Team A, the underdog, must win the game or lose by fewer than the points indicated. You lose your wager if they lose the game with more than 7.5 points. However, if you wager on Team B, which is the favoured team to win, then they must win by more than 7.5 points for you to win your wager.

Parlay bet

A Parlay bet is a type of bet where you win on several wagers. That means you need to win every wager you’ve placed in a Parlay to win the rewards. This is preferable to many punters since your profit multiplies after each win. With this wager, you can bet on different matches within a tournament. If each of your wagers wins, then you win your Parlay bet.

American odds

American odds are one of the most popular betting odds out there. However, it may seem confusing to learn at first. This betting odd is centred on a US$100 win or loss. That means you can either win or lose US$100, depending on which team you wager on.

The American odds also include the ‘-’ and ‘+’ symbols. This time, however, the signs have different meanings. When a favourite team has a minus sign in their name, then it indicates the amount you must wager to win US$100. When the underdog team has a minus sign, it indicates the amount you can win for a US$100 wager.

Have a look at this match-up for example:

Team A +450 vs. Team B -650

When you wager on Team A, which is the favoured team to win, then you need to place a US$450 stake to win US$100 when they emerge as champions. Alternatively, when you wager on Team B, you need to stake US$100 to claim the US$650 prize when they win.

Fractional odds

The Fractional odd or British odds are among the most common betting odds. This indicates the amount you win for every monetary value you wager, written in fractions. When the betting odds are set to fractional, then it would look similar to this:

Team A 10/5

Team B 8/1

Say you wagered on Team A to win. If they do, you gain US$10 for every US$5 you wagered. That means if you wagered US$20 on team A, you earn US$40 in total winnings. 

Similarly, if you wagered on Team B, and they won, you earn US$8 for every US$1 you wagered. So, if you wagered US$5 on Team B, then your reward is US$40.

Decimal odds

The Decimal odds, or European odds, is one of the easiest betting odds you can understand. The numbers in decimal odds indicate the amount you can win with each US$1 wager. 

For example, the odds are set to 1.98 with a US$1 stake. Then, you can win a total of 1.98, earning back your wager with a .98 return. For a more straightforward example, say the odds are 10.0. With your US$1 stake on a winning wager, you earn a return worth US$9 for a total of US$10.

Deposit bonus

As a new punter, many sportsbooks will offer you a deposit bonus, which is rewarded after you make your first deposit. Typically, they will match your deposit for as high as 100%,  doubling your funds to wager with.

Bonus bets

Sportsbooks also typically offer bonus bets or free bets. These can be used to wager on ongoing matches without additional cost to you. However, remember that these bonuses cannot be withdrawn and may only be used for future bets.

Advantages of using Bitcoin for sports betting

Increased security and privacy with Bitcoin transactions

Many punters have turned to Bitcoin for financial safety. Since cryptos like Bitcoin are kept in highly encrypted crypto wallets, you can rest assured that your funds are secure and nearly impossible to access by strangers. Moreover, all your transactions and online activity using crypto will remain anonymous.

Faster deposit and withdrawal times vs. traditional payment methods

Unlike traditional banking options, Bitcoin offers punters fast and seamless transactions. With traditional and online banking, transfer limitations are often an issue. Fortunately, with Bitcoin, you can withdraw how much you prefer no matter how big the amount is. Additionally, you can conduct the transactions anytime and anywhere.

Lower fees and no intermediaries in Bitcoin online sports betting

Typically, traditional banking imposes fees when making transactions. With Bitcoin, the fees are low to none, depending on your wallet or exchange platform. Besides this, due to its decentralised nature, you’ll never worry about intermediaries or third-party interference with Bitcoin. That means you have full control and access over your account, unlike in traditional banking systems.

Make sure the platform is licensed

There are tons of sportsbooks online that claim to be a safe platform. However, you can only guarantee this by checking whether the specific platform is licensed and regulated by a gaming authority. 

It’s important to only play at licensed and regulated sportsbooks because it’s proof that they adhere to the law. Earning a gaming license is difficult and requires a platform to follow many regulations. If a platform has earned its licence, it means they’ve taken the proper steps to ensure they’re operating legally.

Check the security measures

Another factor to look at is the platform's safety measures to ensure your account, funds, and personal information are safe. The most common security measures used are an SSL certificate and HTTPS protocol. These are the two browser security measures that ensure your activities on the site are private and secure.

Find a reliable sportsbook to play on

One of the key ways to get a rewarding sports betting experience is to find a reputable sportsbook. You need to conduct thorough research and check highly recommended platforms in your region.

Understand the mechanics of the game

Having a keen understanding of the mechanics of a specific sport is one of the most important things you need to know before betting. That’s because your knowledge of the game enables you to make better-informed wagers and predict the possible outcomes of matches.

Check your preferred team’s past performance

Before you wager on a team, consider their overall performance during the season. This will give you invaluable insight into the odds of them winning. There are many people online who provide data and analysis on different sports. You can review these and see the results for yourself to decide whether you’re wagering on the right team or not.

When you don’t use platform bonuses and promotions

Sports betting sites actively reward punters with many opportunities to maximise their wagers with platform rewards and promotions. However, some punters ignore these opportunities, resulting in them missing out on gaining more than their money’s worth.

Placing too many wagers is likely to cost you

It’s true that the more wagers you make, the more chances you have of winning. However, this can be detrimental since these wagers don’t guarantee wins. It’s important to be strategic with your wagers. Instead of placing many wagers at once, it’s important to only wager on matches and teams where there’s a high chance of winning.