Bitcoin Betting - The Ultimate Beginner's Guide

Online betting enjoys great popularity, as it enables exciting betting experiences at home. There is no need to visit a betting office, which makes online betting extremely flexible. In addition, the full selection of providers, sports and games is available. However, a lot has happened in the online betting market. The cryptocurrency Bitcoin has established itself in the field of online betting, so that there are now numerous providers who offer Bitcoin betting and have even specialized in it.

This Bitcoin betting guide is aimed at all players who are interested in starting Bitcoin betting. It is a good idea both for players who want to switch to Bitcoin and for those who already own the popular cryptocurrency and are interested in sports betting. In the following, we will first show you what advantages Bitcoin betting brings and how to place your first bet. After that, we will introduce you to the most popular sports for Bitcoin betting so that you can choose the one you like the most. Finally, we offer some helpful tips and tricks to get you started with bitcoin betting.

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Why should you prefer bitcoin betting?

Compared to sports betting with traditional fiat currencies, Bitcoin betting offers several advantages that can neatly enhance the betting experience of players:

Fast transactions enable high flexibility

Bitcoin is characterized in the betting sector primarily by the high speed with which transactions are carried out. Since the procedure is exclusively digital and there are no intermediary control instances, transfers are completed instantly. This feature offers players a high degree of flexibility. So if you happen to find a game that interests you at your betting provider and you think you have a good chance of winning, it's no problem to get in quickly.

Bitcoin betting offers players a lot of security

Since no personal data has to be provided for the use of Bitcoin, this cryptocurrency offers a high level of security - also for sports betting with online bookmakers. Since all transactions take place via the Bitcoin wallet, the private data is also secure when betting with Bitcoin, so that it cannot fall into the hands of third parties and data misuse is ruled out.

Also, well-known fraud methods, such as fraud when transferring money back to a credit card, cannot occur with Bitcoin betting. This way, players can also enjoy a high level of security regarding the whereabouts of their cryptocurrency.

How to Start Bitcoin Betting - A Step by Step Guide

Getting started with Bitcoin betting is quite simple in principle. However, there are some tips that can make the start noticeably easier. Below you will find a step by step guide on how to get started efficiently.

1. Find the best bitcoin betting provider

If you already have a Bitcoin wallet, you can start looking for the right bookie for your Bitcoin bets. With betting providers, there are many aspects to consider so that you can find the best provider for your needs. However, you should always pay attention to some features:

  • Selection of sports: The offer of the bookie is particularly important. Of course, you would prefer to bet on sports that interest you and with which you are well acquainted. For this reason, you should thoroughly check the bookmaker's offer before signing up. This way you can avoid the annoying moment when you want to bet on tennis, for example, but exactly this game is not offered.
  • Take advantage of bonus offers: Many Bitcoin betting sites offer new customers a bonus. If new players take advantage of this, it can ease their entry immensely. For example, a common type is a no deposit bonus which you can use to make your first bets. So, if you find a bookie that has lucrative welcome offers for you, you will get an attractive jump start so that you can get started right away.
  • Look for the seriousness: It is equally important that the provider is reputable. Bitcoin is a very valuable cryptocurrency whose price is constantly rising. For this reason, your Bitcoin should be in good hands and protected from fraud attempts. When looking for the right bookie, you play it safe if you check whether the provider has a state gambling license. Betting providers have to fulfill high requirements in order to receive these licenses, which speaks for a high level of seriousness. Generally, providers with a license from Malta or Curacao are recommended. These gambling licenses are commonly perceived as high-quality security guarantors.
  • A suitable customer service: The customer is king. This should also apply to Bitcoin betting sites. As a rule, you should prefer providers who offer reliable support. It provides security when competent employees are available to answer your questions and solve your problems. This is especially important for new players, as they are not yet familiar with the processes. Make sure that the bookmaker offers live chat, email contact or a hotline.

2. Set up your account

Once you have found the right Bitcoin betting site, you can start to register. Usually, the button for registration is clearly visible and located at the top of the homepage. When registering, your wallet ID must be entered so that transactions can be carried out. You should pay attention to whether the provider offers a bonus with bonus code. Often, the bonus code must already be specified during registration so that the bonus amount is credited to you after registration. This is usually the case when it comes to a no deposit bonus.

3. Choose a game that you like

Now it's time to find the right game for Bitcoin betting. Basically, you should choose a sport that interests you and in which you have good knowledge. The specific game should also be well chosen, maybe your favorite team plays or there is a match-up with which you have dealt in depth.

4. Do your bet

When you have finally decided on a game, the time has come and you can place your bet. It is important to consider which team or player you want to bet on. Specific bets are also possible, so you can bet not only on the winner, but also on a specific match result. The amount of your bet should depend on your personal budget. Also, how sure you are about the outcome of the game can influence the amount of your bet. Thus, it is a good idea to place higher Bitcoin bets if you are well informed about the game and are confident that your prediction will come true.

The best sports for bitcoin betting

In case you need help with the initial orientation, we present the most popular sports for Bitcoin betting below. Who knows? Maybe your favorite sport is already included.

1. Soccer

King soccer rules not only in the stadiums of the world, but also in the virtual betting shops. Soccer is one of the most popular games for sports betting worldwide. This is also reflected in the area of Bitcoin betting. In the classic way, bets can be placed on the victory of the favored team or on a draw. Over time, however, a further differentiation was added, so that with today's Bitcoin betting you can also bet on specific results.

For example, it is very popular to bet on the number of goals to fall regardless of the team. Popular odds are, for example, 0.5; 1.5; 2.5; 3.5. This may seem complicated at first glance, but it is quickly explained: As a rule, an under and an over bet is specified for a match. The player now chooses an odds and bets whether it will be under or over. For example, if Bremen plays against Schalke, you can bet that the goals will be under the odds of 2.5. If there are two or less goals in the match, the bet is won. At the same time, the odds 2.5 is also the most popular with most players, as it reflects an average result both as an over and as an under.

2. Basketball

Basketball enjoys great popularity, especially in the US. But also among sports betting fans worldwide, the sport is slowly establishing itself. Similar to the soccer bets, the favorite type of bet is on the victory of a team. Nevertheless, under and over bets can also be placed without any problems.

3. Horseracing

Betting on horse races has decades of tradition. So it's no wonder that this sport is also very popular for Bitcoin betting. In doing so, players also have many options open to them as to how they can bet on their "best horse". The classic variant is, of course, to bet on the personal favorite making the first place. However, this approach can be quite risky. The "place" variant offers a greater scope - here the bet is considered won if the horse makes the first or second place. Another exciting method is to determine the top 3 in the correct order. However, this type of bet requires a good knowledge of the performances and qualities of the individual horses and riders.

Pferderennen

4. Tennis

Bitcoin betting on tennis works quite similar to soccer betting. Here, too, there are odds to bet on, which provides for an appealing variance of different betting opportunities. Unlike team sports, however, a close look should always be taken at the daily form of the respective players. Thus, the success of the player depends solely on himself and the result cannot be influenced by any team dynamics.

5. Tips and Tricks

Finally, we offer you some helpful tips and tricks that can help you get started with Bitcoin betting. These are tips that are useful for all types of players:

  1. Take advantage of bonus offers: Just about every Bitcoin betting site offers attractive bonuses to new customers. Such a bonus can give you a great advantage and make sure that you may already collect the first winning bet before you have even deposited your own bitcoin at the bookie. The best option for new players is a no deposit bonus, as it only requires you to sign up with the bookmaker. In return, you will receive a fixed amount that you can invest in your first bets. This way you can try out the provider without obligation and risk.
  2. Don't just bet on your favorite team: Most sports are very emotional affairs for fans and you want to be loyal to your favorite team. However, this attitude should be discarded in most cases when betting with Bitcoin. Thus, attention should always be paid to who is the favorite and what form both teams are in. On this basis, it is best to estimate on which result should be bet.
  3. Gather information about the players in advance: Sports betting is mostly not about luck. Of course, the daily form of the team can often lead to unexpected results - but if you want to be successful in the long term bitcoin betting, you must always stay up to date. This way, the chance factor can be kept as small as possible and lasting success in betting can be achieved. Basically, it is important to pick an announced match and gather a lot of information in advance: Which team is currently on a winning streak? Are there any absences due to illness? Does home field advantage play a role? Thus prepared, confident bets with good chances of success can be placed.
  4. Making the right bet: Finding the right bet depends on several factors. First of all, your own budget should be kept in mind. In addition, it is more worthwhile to place higher bets if you are relatively sure that your forecast is correct. Another strategy is to bet on several games with smaller stakes and make profits in the overall result.

With the right preparation, bitcoin betting offers excitement and a sense of achievement

Overall, Bitcoin betting is a rewarding activity for owners of the popular cryptocurrency. With good preparation and a bit of luck, it is possible to make profits quite consistently. This is especially rewarding in the case of cryptocurrency, as the price is constantly growing. The range of different providers and sports is also considerable, so everyone should find a suitable betting offer for themselves. The most important thing is to choose the right provider, which preferably offers attractive bonuses for new customers. With sufficient preparation, this starting credit can be used to successfully place the first bets.

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