Bitcoin Sportsbetting Tips
When joining the world of online betting, newcomers might get overwhelmed by the sheer amount of content and options being available to them. Without proper guidance and lack of knowledge of the basics, the experience might turn out to be quite unpleasant, with the funds draining faster than you can replenish them.
With the introductions of Bitcoins in the online gaming market, things got a little simpler thanks to the inherit accessibility of the online cryptocurrency. This however, doesn’t mean that new bettors should rush online without any previous knowledge of this emerging market.
In this short overview, we’ll be going over some of the basic and advanced tips for making a successful Bitcoin betting strategy to ensure a steady and successful entrance into online betting.
Making a Thorough Research
This is a no brainer when it comes to any approach for online gaming and it concerns but US and UK based players alike. If you’re serious about getting into Bitcoin betting, even for recreational purposes, you should consider making a research on everything, including:
- Bitcoins – how they function, making a Bitcoin wallet and using the address for deposits / withdrawals
- Bitcoin sportsbooks – types, opportunities, sports on offer
- Odds and bets
- Promotions and bonuses
- Recommendations and reputable sites’ reviews
With this information in mind, you can begin with the formation of a strategy around your preference in sports betting.
Bitcoin Management
Once you’re all set up, you ought to think about managing the funds in your Bitcoin wallet. It is important to never rush “all in” on the first few bets, no matter how confident you’re felling about the outcome of a game.
A general rule of thumb is to never bet more than 5% of your total Bitcoin bankroll – this will ensure that even if you lose the bet, it won’t hurt you in the long run.
Another thing to note is a losing / winning streak ratio – if you’re on either, you should consider taking a break. The former because you will be losing more, and the latter to save up some for afterward use.
Finding the Best Bitcoin Sportsbook
If you’ve done that previously mentioned research you will come to a conclusion that the best Bitcoin Sportsbook is a place where you will be able to place a bet on a large assortment of sports, which offers good to excellent odds on a variety of bets, offers live betting and doesn’t require personal information for an account to be set up for betting.
An added incentive for the title “best” of the best is the presence of promotions and bonuses that grant additional benefits in the form of free bets, first deposit bonuses and more.
Maximizing Winnings through Perfect Timing
As with most things in live, timing in online Bitcoin betting is of great importance. Monitoring the live matches and watching the odds fluctuate in order to maximize your winnings with a timely placed bet is a great tip to start off successful.
Familiarize Yourself with the Rules
Not all Bitcoin sportsbooks are alike in terms of rules and regulations – knowledge is power, so before committing to a bet, make sure to read up on the individual rules for each match / sport in order not to feel cheated of your win, or otherwise, lose a bet if haven’t grasped the entire concept fully.
Bonuses for the Long Run
As we mentioned earlier, not all Bitcoin sportsbooks offer bonuses and promotions, however, those that do tend to favor players with either short term boosts like the first deposit options, or long term dedication with weekly and monthly bonuses like payback promotions, free bets and monthly jackpots. Check out our bonus section for more information on bonuses offered.
Conclusion
Playing smart often means looking at the bigger picture, and this certainly is the case with Bitcoin betting. By following the above mentioned tips you will have a good head start on the road to being successful with your bets while enjoying watching your favorite sports. Just keep in mind that a cool head is more important than being on a lucky streak – luck can only get you so far, while reasonable strategy can keep you entertained for years.