Bitcoin sports betting has brought excitement and versatility to gaming on the major sporting leagues across the world. One of its advantages is that bettors can now wager on their favorite sporting activities and teams with BTC. The global spread of these sports is a feature that matches the digital currency known for its decentralization. This means that no central authority has influence over its use.
Casinos and other betting houses have increasingly adapted to the use of Bitcoin due to its low fees and faster transactions. These coupled with the ease of sending and receiving the peer-to-peer virtual money makes it ideal for wagering on games.
Sports betting is a big market because the games are popular. There are millions of fans that follow them and many are lifetime lovers of these sports which include football, Formula ONE,golf, basketball, Tennis, boxing and many more.
Find a list of the best Bitcoin Sportsbooks.
Placing bets on sporting activities is an easy way of winning more bitcoins. It’s also an easy way to lose your coins. That’s why you need not jump into any gambling activities without conducting proper research. Some questions you should ask are:
• What is the prospect that you’ll win?
• What do you need to do to win?
• Where should you bet on your favorite sports?
• Will you be paid immediately you win?
• Are there important information about the games that you’re not aware of?
You definitely can’t know everything, but you should know enough to enable you take informed decisions. When it’s all been said and done, outcome still depends partly on luck.
People have shown their support for their favorite teams since time immemorial. Sports bets have been an integral part of the human society. Many of the games played in casinos today are improved versions of what has been in existence for centuries. Some of these were sporting activities such as duels which attract bettors who wager money in support of their favorite athletes, combatants or teams.
With the integrations of the blockchain technology in gaming, it has made betting on games even more transparent. Players can be rest assured that any bets they place on a casino has desirable odds before wagering. Sports betting is arguably among the fairest gambling activities since the outcome of games from most major leagues cannot be manipulated. When this is superimposed on the transparency and immutability of contracts made on the blockchain, it is obviously a good deal betting with BTC on sporting activities.
Whether NBA, the Premier League or Bundesliga, if the player chooses good odds, sports betting could be highly profitable even though success depends mainly on luck and the chosen odds.
You should have guessed by now that betting with Bitcoin has a number of merits. These include:
Third parties are not involved in the Bitcoin network. In fact, they are completely eliminated. Their effect on transactions are also eliminated. This is why the fees paid for sending bitcoin is quite low. The house utilize this low fees to give incentives to players.
The effects of low fees and a competitive market has made Bitcoin casinos to consistently offer high bonuses to their players. These enable players to access more games while betting sites attract more players with these bonuses.
Bitcoin transactions are faster than fiat which require third parties to operate. These third-party services such as banks and payment processing companies sometimes require days to process transactions made on their platforms. The delay doesn’t favor the players and the casinos who both lose time and possible earnings. When deposits are made with BTC, they take minutes to reflect on the player’s account. The same goes for withdrawals. This is why BTC is increasingly becoming popular among online casinos.
If you need to play games without exposing your identity, play with bitcoin using gaming platforms that support the digital currency. Bitcoin is nearly anonymous. If you avoid exchanges that demand KYC, your identity could be nearly completely protected with proxy services. To be completely anonymous while using a casino for your games, the best approach is to use a mixing service for deposits and withdrawals.
Bitcoin is built on the blockchain technology which has a governance structure that is not centrally controlled. This means that users of the network cannot be teleguided by a central entity such as a new state policy. Bettors from a country that has stringent gambling laws can circumvent them by playing with BTC.
Placing your bet on a site that works on a smart contract (blockchain) ensures that the agreement is not altered. However, what we know is that most betting sites so not use smart contracts. What’s common among many is the so-called “probably fair” concept, which essentially is a third-party service that ensures that betting houses do not cheat their customers.
Sportsbooks are a goldmine in terms of information they provide on major and minor leagues. Irrespective of the choice of sports that you’re willing to bet on, the sportsbook on a good betting site should give you a bearing using its data. So spend some time analyzing the data for clues on what games to wager.
There are many sites that offer very low margins, sometimes as low as 2%. You should be on the lookout for such sites and check how reputable they are. Reviews should give you an insight into the antecedence of such sports betting platforms.
There are two options available to you in sports betting: you could go for fixed odds or pool bet. The fixed odd is paid based on predetermined permutation by professional bookmakers. The odds you bet would determine the amount you win. This is fixed independent of the outcome of bets by other players. What happens with pool bet is that the outcome of other’s bets would determine how much you share from the winning pool. Obviously, if the winners from the pool are many, your earning would be less. If they’re few, you’ll have more funds paid to you if you win. The interesting thing about fixed sporting bets is that when they’re placed, the bettor can still amend them sometime before the events commence. The bets are like contracts that are initiated the moment the events start. In pool bets, the potential earning would vary as more bets are placed. So if you’re looking to have a fixed earning on your bet, you should go for the fixed odds. It has been found that there are no remarkable differences in the earnings from the two types of bets.
There are thousands of scam sports betting sites out there. This is why you should not take information at face value, especially if the information is on a site that has no online reputation in sports betting. Sites that promise assured great odds would likely be fraudulent, if they personally contact you that you’d win.
Not every site out there should be used for your bets. Before signing up to use a site, be sure that they meet certain criteria.
There are many fraudulent casinos that would not pay winnings. Others would steal deposits made by customers. This is why reviews are important. Also find out what other users’ experience is before signing up to play on a site. Older casinos that have many customers also resolve issues that could dent their reputation.
Responsible gambling is guided by pethics. A good gambling site should be regulated by certain rules such as ensuring that the underaged don’t have access to their services. Also, users should be protected by some built-in checks such as bankrolls. This is to forestall using funds meant for other things to play games.