In this Bitcoin sports betting guide, we go over three things that will help you, as a bettor, place wagers that reduce risks, losses. It might come as a bit of a shock, but these can possibly guarantee positive turnouts. Online betting is not like planting your hard-earned Bitcoin on your favorite sports team and hoping it grows like a plant. There is more to online betting than it seems. There are these three betting concepts that prove to bring long-term profitability. These three betting concepts are arbitrage betting, trading, and hedging.
Going over the definitions of the three concepts to start things off:
Arbitrage betting – Another for word for this is scalping. As each Bitcoin sportsbook releases different odds, bettors can secure better choices where they can manipulate these odds differences.
Trading – As sports events get closer and closer to start (e.g. big boxing matches or the start of a league season) odds for each team or player included in the league get higher or lower, depending on their status. This status may be injuries, underperformance, and the like. Bettors can use these qualities to benefit the end result of their choices. If you can predict these, you have guaranteed yourself payouts.
Hedging – Placing another bet on your initial bet in the hopes of eliminating losses or possibly, increase winnings.
Now that you are thru the basic definition and functions of these three concepts, you can now apply these three to help your Bitcoin sports bets.
A literal example of Arbitrage betting is taking advantage of price differences. Let’s say you find a t-shirt with a $5 price tag, and after buying the shirt, you encounter a buyer who’s interested in the t-shirt. The buyer is willing to pay $10 for it on the spot. If you push through with the deal, you just earned $5 without taking any risks. That’s how arbitrage betting works.
There are reasons Bitcoin sports betting odds have their differences. It is either they have a different opinion on predicting the match, sportsbooks might have specific promotions for the sports event, and delays in releasing the odds may affect them. But bettors may take advantage of this difference in odds. Many sportsbooks for Bitcoin users allow arbitrage betting on their websites and regularly promotes them as well.
Plenty of factors could drastically change the outcome of a sporting event. Also, the favorites to win a game may not always be the best determinant. These factors could change that in a blink of an eye. Some of the factors that could change the game are the weather for baseball, football, or outside games, a star or key player sitting a match out because of injuries or illness, and more. As the game gets closer kick-off, odds will change especially if any of these factors are in play and change. So, if you can predict these changes before the game starts, you are one step closer to winning your bets.
Hedging may be considered as an insurance. It is a direct strategy with a goal of creating a protection for your bets, win bitcoins with sports betting, and removing your losses. You can do a hedge bet by placing a wager on outcomes that are different from your first bet. For example, you bet on the underdog team to win the game and at the same time placing an outcome bet on the favorite to win the game. Keep in mind, even though you are guaranteed a win, there is no guarantee that you can finish with more bitcoins in your bankrolls. There are particular times where hedging would make more sense. While his cuts down the risks, there are can be circumstances where you can end each bet with profits.
To cap off this sports betting guide, these betting strategies can make you or break you. But the bottom line of this guide is to help you become the best online bettor you can be. Make sure to do your research first and then apply these strategies for surefire wins.