5 Bitcoin Sports Betting Tips To Increase Your Earnings
Use these top 5 tips while betting on your favorite sports with Bitcoin and witness an increasing bankroll.
Bitcoin sports betting offers multiple advantages over traditional currencies. While crypto like Bitcoin is largely misunderstood by the broader section of the betting community, they have become popular as an increasing number of Bitcoin sports betting sites accept major cryptocurrencies for all the good reasons. BTC or Bitcoin sportsbooks offer an excellent way of adding excitement and fun to the online betting experience. It makes it easy for users to bet on their favorite sports events and get competitive odds and prices on the best Bitcoin sports betting sites. They can enjoy increased transparency, low transaction fees, top-notch security, complete anonymity, 24×7 global accessibility, massive bonus offers, and no downtime.
In this article, readers will learn the basics of sports betting with Bitcoin and how to choose a reputable BTC sportsbook that offers the best odds and lucrative bonuses and promotions to maximize their chances of winning.
1. Picking a Reputable Bitcoin Sportsbook
The rising popularity of Bitcoin sportsbooks has led to the establishment of thousands of Bitcoin sports betting sites. This has made choosing a reputable and reliable Bitcoin sportsbook a Herculean task for sports bettors worldwide. Before selecting anyone BTC sportsbook, it is essential to experiment with the top betting sites that will allow players to switch between the best Bitcoin sportsbooks that are the most profitable and enjoyable for them.
Consider the following factors while selecting a reputable Bitcoin Sportsbook:-
- Reputation and Trust: Since sports betting Bitcoin requires heavy investments, players must ensure that they choose Bitcoin sportsbooks that are heavily regulated and licensed by leading regulatory bodies. Consider the reputation of the BTC sportsbook by going through customer reviews and feedback.
- Odds, Sports, and Lines Available: While most Bitcoin sports betting sites offer similar sports, others offer exclusive betting options. To be fair, it is almost rare to find exclusive sports for betting on BTC sportsbooks. Consider the depth of odds and lines offered by the best Bitcoin sports betting sites.
- Instant Deposit and Payouts: This is another essential aspect to consider while choosing the best Bitcoin sportsbooks. Remember that BTC sports betting generally offers super quick deposits and payouts, allowing players to cash their profits right after a sports event ends.
- VIP Programs and Lucrative Bonuses: Choose a Bitcoin Sportsbook with an enriching VIP program and lucrative bonuses to reward the most loyal players and high rollers on the platform.
2. Learn the Basics of Sports Betting
New players can find it overwhelming to bet on sports using Bitcoin. Let us discuss a few terms to understand the basics of sports betting:-
- Money Line: Betting on the money line is quite popular since the odds are more profitable than other betting odds. Each team’s money line is a three-digit number that shows how much one would require to bet to win it.
- Point Spread: Point spread is a number for every betting matchup that needs to have an equal amount of bet on both sides. If a player in a particular sports game is favored to win by a touchdown, they would have a -7 distinction on the betting line, while the underdog, their opponent, would be listed at +7.
- Selection: This is basically what the bettors bet on. Samples do not always have to be a particular individual or team to win the game. Many different types of bets can be placed on sports.
- Stake: This refers to the amount of money being wagered or risked. The Bitcoin sportsbooks keep the stakes from losing wagers and return them for winning wagers.
- Odds: BTC sportsbooks offer competitive odds for all selections. The odds determine the amount bookmarkers need to pay the bettors relative to their stake if the relevant selections are correct.
3. Managing Your Bankroll
Bank management is essential to consider when deciding to earn millions from Bitcoin sports betting. Learning how to use money smartly to make a profit is necessary as a player.
Bankroll management requires:-
- Flat Stacking Model: A beginner-friendly bankroll management method is to stick to a flat stacking model. For instance, if a player has $1000, invest only 5% for every bet, irrespective of the outcome.
- Prioritize Betting Odds: New bettors must learn to take advantage of betting odds. It helps calculate the risk-reward ratio with complete ease.
- Do Not Invest Without Preparation: Investing hard-earned money without prior knowledge is always risky.
4. Comparing and Shopping for the Best Odds
Comparing the best odds and line shopping is something that all sports bettors using Bitcoin must do. There are two critical benefits of comparing and shopping for the best odds:-
- To increase payout sizes.
- To increase the chances of winning wagers.
For every winning bettor, increasing the payout sizes simply means that the bettor wins additional money. Even if they lose money overall from their betting, they will likely win at least some of their wagers. Additionally, increasing the chances of winning wagers is equally attractive. It is possible that players can get more money by winning wagers since it has the potential to make a massive difference in the betting results over time.
5. Taking Advantage of Bonuses and Promotions
The best Bitcoin sports betting sites offer additional bonuses and promotions in the form of a welcome package, deposit bonuses, free bets, free spins, cashback, rebates, and more if players make payments using Bitcoin and other major cryptocurrencies. Most BTC sportsbooks offer generous deposit and withdrawal bonuses to encourage Bitcoin transactions. Players can use these bonuses to win hefty amounts that may go as high as a 100% bonus on Bitcoin. Players can double their Bitcoin deposits, start betting immediately, and increase their winnings.
In case you missed it: BTC Gambling Sites
Conclusion
Betting with Bitcoin is usually less risky than betting with traditional fiat currencies. Bitcoin is notoriously volatile, which means there is always some risk involved. However, several Bitcoin Sportsbooks convert crypto to fiat when players withdraw their funds. Placing sports bets using BTC has many advantages, such as complete anonymity, bonuses and promotions, faster transactions, and lower transaction fees, which outweigh the disadvantages. However, players still have to do their homework to choose a reliable BTC sportsbook licensed by a famous regulatory body to stay on a safe track and bet seamlessly on their favorite sports events.
