There’s no denying that betting on sports in Bitcoin offers several benefits. From much higher levels of anonymity (the KYC norms are far easier in Bitcoin betting than traditional betting) to lower commissions (crypto-betting platforms charge lower commissions than other platforms), betting in Bitcoin is way ahead of other forms of betting.
That’s the reason the number of punters using Bitcoin and other cryptocurrencies is rapidly increasing around the world. While there’s every reason for you to use Bitcoin while betting, you’ve got to have a proper strategy to win big. Bear in mind that betting in Bitcoin is still relatively new; therefore, many punters tend to have misconceptions about the same.
In this blog, we’ll offer you strategies that you can use to win big on BTC365’s platform by betting on sports using Bitcoin.
Want to bet on sports with Bitcoin? Follow these steps to win big!
Find an authentic sportsbook that accepts Bitcoin
Betting with Bitcoin starts with finding an authentic sportsbook, which you know is genuine and reliable. Never punt on a sportsbook whose reliability you aren’t sure of. But you may ask how to know whether a sportsbook is reliable or not.
That’s a valid question. In a day and age of online betting platforms, you’d never be face-to-face with people running a sportsbook. That said, checking a sportsbook’s authenticity isn’t that difficult, either.
Check if a Bitcoin sportsbook is licensed or authorised by a reputable institution. For example, BTC365 is internationally licensed by E-Gambling Montenegro, which is a well-known authority for licensing gambling operators in Montenegro.
Apart from that, BTC365 has more than 10 years of experience in providing an online gaming experience to punters. This means it’s not a fly-by-night operator. To check the authenticity of an operator, you can also check reviews online.
Ensure that the sportsbook offers multiple betting options for you to place your bet
You must have heard in the context of the share market that investors shouldn’t put all their eggs in one basket. The same applies to betting on esports in Bitcoin as well. Simply put, it means you should always bet on multiple options so that if you lose one bet, you still have a chance of winning another bet.
If you place only a single bet, then your winnings or losses are a function of just one wager, which means you’re taking much more risk than advisable. That said, you can place multiple bets only if a sportsbook offers you several betting options.
On this parameter, BTC365 excels, as it’s the only dual sportsbook platform that provides odds for betting on more than 70,000 matches monthly and covers sports like basketball, soccer, lawn-tennis, table-tennis, boxing, baseball, American football, handball, golf, motorsport, rugby, etc.
You name a sport and BTC365 has a betting option. Such a variety of betting markets ensures that you don’t have to go to another platform when you’re on BTC365.
Always hedge to reduce the risk of your betting positions
Suppose you feel that you’re going to win big on a certain bet. You’d certainly be happy if you indeed end up winning. But what if you end up losing? What if you’re set to lose a big chunk of money if the bet goes the other way?
That’s when you should hedge your betting position. Hedging means taking exactly the opposite side of your original bet to minimise the potential risk. One way to hedge is to place an opposite bet of a slightly lesser amount than the original bet.
You can of course vary the amounts on both the bets based on the expected outcome of the positions. If this sounds difficult to you, then the easier way to hedge your positions is to play multiple contests at the same time.
You’ll win some and you’ll lose some, but your net cash inflow may turn out to be positive. This is what we discussed even in the point above by saying that you shouldn’t put all your eggs in one basket.
As BTC365 offers several betting options on multiple sports, it’s very easy to hedge on this platform.
Thoroughly analyze the esports you want to bet on
This is the core of betting. You can’t win by betting if you don’t have a thorough knowledge of the sport you want to place a bet on. Remember that millions of punters bet every day on a sport and you’ve to be better than most of them, if not all of them, to have any chance of winning regularly.
Therefore, having an in-depth knowledge of a sport is a MUST. For example, if you’re betting on FIFA esports, then you’ve got to know the strengths and weaknesses of individual players. Moreover, you should know how a certain player fits within his team, from which position he likes to play, and how his recent track record has been.
The last point on the recent track record is especially important. Even if you’re betting on a great player like Messi or Ronaldo, remember that they all go through phases, more so when they start getting older. You’ve to spot trends in their performance to find a reason for keeping them in your team or not.
Keep a track of important Bitcoin-related news and developments
Remember that Bitcoin, like any other cryptocurrency, experiences huge volatility in its value. For example, the INR value of Bitcoin has declined by around 19.26% in the last month itself. Therefore, you must keep a track of all news and developments related to Bitcoin to have a fair idea of how its value will fluctuate in the near future.
As Bitcoin is still not acceptable for most day-to-day transactions, you’ll have to convert your Bitcoin deposits into widely used currencies (like Indian Rupees, US Dollar, etc.) to use your money easily. That’s why you should keep a watch on Bitcoin’s value. In a way, betting in Bitcoin on sports involves two kinds of wagers: one on the sport itself and the other on the value of Bitcoin. Therefore, you’ve to be really cautious.
If you don’t track Bitcoin’s value, you may win your bet, but you may still lose money because of a dip in Bitcoin’s value. Conversely, if Bitcoin’s value increases, your winnings may get amplified as well.
Make the most of bonuses and promotions offered by a sportsbook
Needless to say, bonuses and promotions offered by a sportsbook can make a huge difference to your net cash flow after betting. Once you’ve found a reliable sportsbook, you must go through the bonus section of its website and read all the terms and conditions to get a good idea of how to avail yourself of those bonuses, offers, and lucky draws to get the maximum return on your investment while betting.
BTC365 offers several kinds of bonuses and cashbacks, which you can read in more detail by visiting this link. Apart from promotional offers, BTC365 also has something called a “VIP Club”, which rewards members based on their ranking while gambling on a sport.
If a player manages to reach a high enough rank, then he/she is eligible for bonuses, prizes, and rewards. You can win from an amazing list of prizes, which includes iPhones, non-fungible tokens, and genesis tokens.
Want to bet on Bitcoin on sports, BTC365 is where you should be!
If you want to bet on sports using Bitcoin, then BTC365 is the best platform for a number of reasons. One, it is among the best crypto gambling and betting sites in the world. Two, it offered some of the best crypto bets in 2021 and it is expected to do so in 2022 as well.
Three, it is licensed by a reputable institution. Four, it offers betting options on a wide range of sports, like basketball, soccer, lawn-tennis, table-tennis, boxing, baseball, American football, handball, golf, motorsport, rugby, etc.
Five, it enables speedy deposit and withdrawal of your funds. Six, it offers some of the best bonuses and rewards in the industry. So, what are you waiting for? Register on BTC and kick off your betting journey!