Bitcoin Betting is gameplay during which two or more subjects controversy about the outcome of a certain event and bet their bitcoins on this outcome. Nowadays usually, the players and the online bookmaker act as the subjects of the betting. The player makes a deposit to the bookmaker’s website, then makes a bet. In case of a successful bet, the player receives the amount bet plus, the won money. In case of loss, the money remains with the bookmaker.
How the win is calculated, we will talk a little later, now let’s get back to the origins of betting. This kind of activity has been an integral part of human life all the time. Dispute and competition are the engines of progress, peoples were disputing, disputing, and will disputing. But professional betting flourished only in the 20th century, at that time, betting on horse races become very popular. Over time, betting on other sports also became more popular, the star of betting is football (or soccer). Today you able to bet with bitcoin on anything that you want: elections, main characters in TV shows, weather and etc.
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How bitcoin bookmakers work
The main thing in the work of bitcoin betting sites is to assess the probability of the event passing. They hire special analysts to calculate quotes or use professional software, which helps them in this. This probability is estimated by the coefficients.
Also, the coefficient includes a margin of bitcoin bookmakers. For example, take a tennis event P1 and P2. With the same probability of winning, the odds should take from 2.00 to 2.00. But in the line, will be 1.80 – 1.95. This is precisely due to the fact that a margin is included in the quote, which reduces the coefficient from 2.00 to the conditional 1.80.
Using the same example, I propose to consider how the winning amount is calculated. By the way, it’s very simple, we take the “final” odds from the bookmaker and multiply it on your bet, after that, it is necessary to subtract the initial bet. For example, the same tennis match and you want to bet 0.002 bitcoin. To calculate your winnings, take 0.002 multiply on 1.8, and subtract 0.002, a result is 0.0016 bitcoin. It is very important to minus your initial bet because that money is not included in your winnings, this is already your money. Many online betting bitcoin bookmakers and “great” betting strategists are disingenuous with this to make the win seem bigger, remember this while playing.
The success of bitcoin betting is significantly influenced by the choice of the bookmaker’s office. Today on the Internet there are a huge number of online websites that offer bitcoin betting, but not all of these services are equally good. They differ from each other in many ways.
- Reliability. The presence of a license, permission to carry out activities for accepting bets are self-evident things that every bookmaker’s site should have. However, even licensed bitcoin bookmakers can block accounts without explanation, delay payments, cut maximum rates and apply other sanctions against players. Therefore, you need to choose bookmakers that have been on the market for a long time, have a good reputation, and a lot of positive feedback from other players.
- Coefficients. The next most important factor that you should pay attention to when choosing a bookmaker is the value of the odds and the associated margin. The lower the bookmaker’s margin, the higher the odds, and, consequently, the higher the potential winnings. Of course, the difference in coefficients may not be so significant for influencing the result of one bet, but even a few hundredths of a share, in the long run, can seriously increase your income. Therefore, you should choose bookmakers offering the highest odds.
- Payment systems. When choosing a bitcoin bookmaker, also pay attention to factors such as the variety of payment systems with which you can make deposits and withdraw funds. And doesn’t matter that you want to make a deposit in bitcoins or in another particular currency, in this case, coverage is important. A large number of payment systems show the trust of large players to the organization and this is a very important indicator.
- Manufacturability. The usability of the website or mobile app is one of the key factors in 2023. A freezing or long opening site annoys and this is one of the factors for changing such a bookmaker.
- Efficiency and quality of the support service. A good indicator of a bitcoin bookmaker quality, which is also easy to check. Contact the support service on the website with any question, for example “in what currencies can I make a deposit?” or “what is the withdrawal rate?”. If this is a reliable bookmaker, the answer will follow within 5 minutes and no other questions asked.
Taking into account all the above factors, the most profitable and convenient bitcoin bookmaker will be the next bitcoin sports betting sites:
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Events that you can bet on with bitcoins
As stated earlier in 2023, you can bet on anything that you want. But we will focus on the most popular events for bitcoin betting. In general, we recommend your bets on popular events, and not looking for something special. There are many more players in betting on popular events (this is obvious), and bookmakers are interested in promoting these particular bets. As a result, more bonuses, better odds, and a larger selection of bitcoin betting sites. Plus, more players more money on the whole, and guarantee fast payouts.
Bitcoin football betting
Football (or American football) is one of the most popular sporting events in the world. The average attendance at NFL games is around 70,000 fans, and several million more watching games on TV or on the Internet. According to open-source information, the total number of bets on the Super Bowl (final game of the season) hovered around 3.2 billion dollars. This is proof that bitcoin football betting is very relevant.
The first football game was played in November 1869, and in 1880 the international rules of the game were approved. These rules were developed by Walter Camp, who is still revered and called the “Father of Football”. 30% of Americans called the NFL (National Football League) their favorite league of all sports.
Bitcoin soccer betting
Soccer or European football is currently the number one sport in the world, and that is why for most players, football is the best bitcoin sports betting. All over the world more than 240 million people regularly play football (approximately every 25th inhabitant of the Earth), there are 1.5 million teams and 300 thousand football clubs. In some countries, football is called soccer to avoid confusion with American football. Despite the fact that soccer betting with bitcoin is very popular, I would not recommend betting on this game, since soccer is very unpredictable.
Bitcoin tennis betting
Tennis is firmly included in the pool of the most popular sports. Unlike football, tennis recommended as a bitcoin sport for betting, since it is a predictable sport. Usually, it played by two players and you bet on one of them, and it is much easier to keep track and predict the sports form of two players than two teams. Plus, tennis tournaments do not stretch over a year, as usual, they are going within a month.
There are many types of tournaments in tennis, which gives large selections of events to bet on: professional, amateur, exhibition competitions, women, juniors, veterans, singles, doubles, and mixed. All these factors make tennis one of the best sports betting bitcoin.
Bitcoin basketball betting
Basketball is a team sports game, the goal of which is to throw the ball with your hands into the opponent’s basket which attached to the backboard. A hit can bring a team from one to three points. The team with the most points wins the match. Basketball is a very emotional game as the opponents constantly exchange shots and the leader of the game changes frequently. That is why if you are looking for sport bitcoin betting, basketball is a bad choice. Emotions are good for your health but not for your wallet.
Bitcoin hockey betting
Ice hockey originated in the 19th century in Canada. Since then, this sport has gained immense popularity, it has been included in the program of the Olympic Games. The most powerful hockey league on the planet – NHL (National Hockey League), which “located” in North America.
The rules of the game of hockey can be quite difficult for beginners. It is a really difficult sport to learn in comparing it to others like football or basketball. Therefore, bitcoin sports betting on hokey will be interesting only for fans of this game.
Olympic Games betting
If we are talking about sports betting with bitcoin, then we shouldn’t forget about the Olympic Games. The abundance and variety of events attract a lot of bitcoin bets fans. In most cases, it will be easier to make a bitcoin bet on the results – the athletes of which countries will be on the podium. This probability is easier to assess than the success of an individual participant, since at some competitions traditionally dominated one country. As a rule, such outcomes are accompanied by low odds, but there is much more confidence in winning.
From the available and popular outcomes for betting on the Olympic Games, the following can be distinguished:
- Bets on the winner in a specific sport;
- Bets on the overall medal winner;
- Who will be higher in the medal rating.
NASCAR bitcoin betting
NASCAR is National Stock Car Racing Association, this competition has popularity only in America and will be actual only for bitcoin sports betting in USA. Its history is not so long as some of other US sports, NASCAR was founded only in 1948. At that time, it was amateur auto racing, where participants often competed one by one, but today these races conducting on the big circuit tracks with 40 cars. In the USA, NASCAR has a huge audience on the TV, the internet, and even on the radio, it is a huge industry with billions of dollars flowing through it. Stock car racing consistently outstrips the NHL hockey in all popularity ratings, and in some regions of the United States successfully competes with American football.
Bitcoin betting on political events
Betting on political events is no less popular than on sports, but the intensity of bets is still differing. Sporting events occur almost daily so you can make online sports betting bitcoin every day, but politician events have a much rarer frequency. However, political events more resonance and more importance than sports ones, so the coefficients for them are higher.
The easiest way to figure out who is the favorite of the political race is to look through the polls, but usually, it is inaccurate information. So if you want to make money by betting on politics you must become a real expert in this field.
Bitcoin betting conclusions
Well, for today this is all the information that I want to share with you. Remember, if you want to make money on bitcoin bets, you must treat them as work, but not as fun. Always examine carefully the participants of the event that you want to bet on, be cold-blooded and vigilant.
Finally, let’s take a look at the frequently asked questions about bitcoin betting.
Advantages and disadvantages of Bitcoin betting
To summaries all above let’s consider pros and cons of bitcoin betting in short:
- Low transaction fees;
- Efficiency and quality of the support service.
- In some countries, online betting is prohibited (since bitcoin bets makes online they banned too);
- It’s necessary to create additional account or digital wallet on which you will store Bitcoins.
Frequently Asked Questions about bitcoin betting