Last Updated on November 21, 2022 by
Making extra money through gambling is often left to the lucky few. However, those with knowledge of cryptocurrency can use crypto betting sites to increase their return on investment. When you bet on sports with crypto, you enjoy many benefits, such as instant transactions and payouts. Yet, how to ensure that you can win that bet? Here is the answer!
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How to Protect Yourself When Using Bitcoin Gambling
Here are some tips to follow when choosing a sportsbook that accepts crypto so that you can have the best experience possible:
- Only use reputable websites. For instance, N1Bet Casino (including the sportsbook) has posted all documentation that proves its legality and trustworthiness. Please never neglect to read the reviews and check their reputation before sending money.
- Confirm the payment methods and fees. Before gambling, ensure no associated costs. Also, check for any delays in payouts or caps on winnings. Not every site has the same minimum and maximum limits.
- Review the limits. To avoid any issues, always check for restrictions and limitations — there might be some for sports, not only for casino games. Some casinos may require ID for large withdrawals or wins.
Betting On Sports Using Bitcoin
Is it better to bet with Bitcoin? That is one of the gamblers’ most asked questions. Because cryptocurrencies are gaining traction, casinos now take Bitcoin, Ethereum, and Litecoin. So, what are the necessities to maximize your profits?
Necessity 1: Only use trusted Bitcoin sportsbooks
There are various sites to explore, but not all are trusted — top casino reviews are the solution here. Some sites run scams and aren’t to be trusted. Here is how to spot the fraudsters:
- The Terms and Conditions may be missing or difficult to understand.
- Negative or non-existent reviews.
- Customer service has been an issue for several customers.
- There are no licensing records from gaming authorities.
- Outdated technology and slow website speeds.
- Delays with payouts.
Necessity 2: Take your time to analyze and predict
Sports betting using cryptocurrency is principally different from playing in the casino lobby. There is no RNG to make you rely on fate. So, it’s easier to forecast team performance, players, and games than slot machines and table games. Hence, take two extra hours to research:
- The team’s history;
- The player’s training routine;
- Their methods and tactics;
- Traumas;
- Plus, never underestimate the underdog! You might be the one who snatches more due to an unexpected turn! Research them too and bet on them when you see that the chances of them winning are a bit less than 50%.
Look for Bitcoin football betting predictions on Reddit or search for sports betting tips on Bing or Google to find them. The community forums are generally trustworthy (for more assurance). Look for insider knowledge from professional gamblers on sports betting, Bitcoin bonuses, parlays, spreads, and more.
Necessity 3: Monitor Bitcoin’s Volatility
Crypto is highly volatile and can plummet before rising again. As a result, take precautions when making withdrawals (to minimize your losses). If you’re fortunate, you may cash out with more money than you started.
Necessity 4: Consider sports match condition details
What are the conditions for the teams who play? Are they under the dome? Maybe there was rain? Maybe the game will unfold during windy weather? All that and many more might influence who wins or misses the opportunity to get the laurel wreath of victory.
Necessity 5: Explore different crypto options
While all cryptocurrencies have unique benefits, some stand out more than others regarding online betting. The most popular cryptos for betting are Bitcoin, Ethereum, Litecoin, TRON, Solana, and USDT. However, the influential difference that sets them apart is the fee associated with each one. If you’re looking for crypto with an extremely low fee (or even no fee), then your best options are Solana, Tron, or Fantom.
Final Thoughts
Crypto sportsbooks provide gamblers with a lucrative opportunity to enhance their profits. Before requesting a payout, make sure crypto is trading higher (to make the most of your digital investment) before registering and winning. Use the suggestions above to get the most significant returns, and begin playing at reputable casinos that accept cryptos.
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