If you love sports betting like we do, you should know that a thorough understanding of the works of Bitcoin sports betting odds is a must to secure wins. Odds serve are the focal point of Bitcoin sports betting. Therefore, it is necessary for you to have a solid grasp of its role to fully utilize your chances of making the right pick and winning more bets.
Being successful in Bitcoin sports betting takes time. Although the concept of wagering on different sporting events is easy to grasp, there’s always something new to learn. Thankfully, the odds used in Bitcoin sports betting is no different from the odds you see in traditional online sportsbooks. If you’re already familiar with the aforementioned, you’ll see that both serve the same purpose.
Getting to know the odds
To get acquainted with Bitcoin sports betting odds, being aware of how the types of odds work serve as the first step. Whether you’re betting on traditional or Bitcoin live sports betting matches, the three types of odds that you usually find on sportsbooks include the following:
- American Odds – One of the most popular Bitcoin sports betting odds features the American odds, which works by displaying how much money you would have to risk in order to win $100. For example, if the odds on a specific NFL even is -110, it means that you have to bet $110 or its BTC equivalent to win $100.
- Fractional Odds – Also known as Traditional Odds, these are often used in horse racing bets and a common sight in the United Kingdom are fractional odds. This type quotes the net total that the bettor gets, which is relative to their stake. For example, Leicester takes on Arsenal and the odds are 5/1. This means that bettor’s stake is multiplied by five should he bet on Leicester and the team wins.
- Decimal Odds – Decimal Odds is a beginner-friendly way to show odds. The given figure shown reflects the exact amount that will be paid out to winning bets. Decimal Odds are equal the decimal value of the fractional odds, plus one. For example, you wager on a boxer to win. They are even money, which totals to 1/1 in Fractional odds. Meanwhile, decimal odds would display this as 1.00 (the even money bet) on top of an additional 1.00 (the initial stake), resulting to decimal odds of 2.00. If you bet $100 worth of BTC on a 2.0 decimal odd, you get back $100 along with your initial wager.
The winning odds
Knowing the different odds used by Bitcoin sports betting websites is of paramount importance. If you want to improve your selections and end your betting runs a winner, recognizing the importance of odds essential. Get cracking and start placing winning bets.