Best Bitcoin Sport Betting

The sportsbook is a traditional name for a gambling place where the interested gamblers place bets on different kinds of games. The sports-book term is famous for registering and maintaining bets in the old time, but nowadays, betting on the sport events or games is done through online portals. The sportsbook terms has also been adopted for online gambling for different sports events and sports matches.

The sport betting covers a wide range of traditional as well as modern sports and their events; some of the most important sports include football, car racing, boxing, hockey, soccer, baseball, basketball, golf, horse racing, cricket and others. The major events, which are popular for sports betting includes NBA, NCAAB, MMA/UFC, world cups of different sports, ATP tournaments, and many others.

There are different rules and regulations for every sport to bet on; a gambler can bet on winning individual or team, on favorite teams or individuals or even on underdog teams or individual players in different sports matches. Normally, the teams are displayed with their standing and money line values. The money line values the money that is paid to the gambler by the sportsbook. The favorite team or individual is identified by the sign placed before the money line rate against that. A plus (+) sign indicates that the team is an underdog and a minus (-) sign indicates that the team or individual is a favorite one. A competitor to Bitcoin Sportsbooks can be the trending Bitcoin Prediction Markets where you can basically bet on anything. A comparison of the Bitcoin Prediction Markets available at the moment can be found here.

Cloudbet.com Sportsbooks

The Cloudbet bitcoin casino website is one of the major casino website that offers sports betting on a wide range of sporting events and matches across the globe. This website supports multiple popular sports for betting; among such sports, a few important ones include Baseball, Basket Ball, Cricket, Futsal, Golf, Handball, Motor Sports, Rugby League, Rugby Union, Soccer, Tennis, Volleyball and others. This bitcoin casino website covers all major sports events popular in all major countries and regions in the world. The major sports events organized in Australia, Europe, North America, South Africa, India and other parts of the world are covered for online sports betting here on this website.

This website offers two kinds of betting such as Straight Betting and Parlay Betting. You can play betting on current as well as upcoming sporting events across the world. This website also offers the wagers with the options to bet for wins, losses, scores, single player performance and many others. The Cloudbet bitcoin casino website offers different features such as 100% welcome bonus, 2-steps authentication, cold storage, and fast bitcoin deposit and withdrawals.

Sports Betting Example

To make it easier to understand the sports betting, we take an example of car racing. For example, we have three players – Player A, Player B, and Player C – in a car racing match. The details of betting money line rates are given below:

Player A = +240

Player B = -100

Player C = +300

In the above scheme of betting rates, Player A and Player B are rated as underdogs and Player B is a favored player to win this race. If you bet for favored you will win less as compared to the underdogs; but winning chances of the underdogs are less. If you bet $100 dollars for favorite player and he wins, you will get just $100 and your bet of $100.

Thus, you get $200 if your player wins. If you bet $100 on Player C, which is underdog and he wins, you will get $300 and the amount that you bet ($100). Thus, you will win $400 dollars if your player wins.

The same procedure is followed for other sport matches in bitcoin casinos too. In bitcoin casinos you just bet in digital currencies rather than regular currency.

In the old days, a bookie – the holder of betting notebook – used to record the bets of different gamblers in his or her book. In today’s modern era of the internet, you just bet through software tools online by using the most secure digital currencies such as bitcoin, dogecoin and others.

There are many bitcoin sports books that are offering betting services to the interested wagers across the globe. These websites offer betting on all popular events in different sports.

The virtual currency “Bitcoin” has long since ceased to be a fad, but is regarded by many experts as one of the future alternative payment methods for online payments. In the meantime, there are even the first Bitcoin millionaires who jumped on the Bitcoin bandwagon early and bought the digital currency, which has experienced an enormous increase in value in recent years.

Those who want to secure the advantages of Bitcoin should get to grips with the matter as quickly as possible, preferably immediately, and open a Bitcoin wallet immediately, load it up and not only profit from the price gain, but also make deposits with their online sports betting provider. Beside the well-known Bitcoin there is now also a multiplicity of other crypto currencies like

  • Litecoin
  • Monero
  • Ethereum

etc.

Bitcoin Wallets are free of charge and absolutely secure.

The sport of betting has gained more and more popularity in recent years and there is hardly any sport or world event today that cannot be bet on in any way. It is therefore hardly surprising that more and more betting providers are including Bitcoin in their payment options. If the number was quite clear a few years ago, this has changed a lot since the big providers who become top stars even started their own Bitcoin derivatives. But many people still have mistrust of the digital currency, even though it has some advantages.

Facts about the Bitcoin:

  • a Bitcoin wallet is absolutely secure and free of charge
  • opening a Bitcoin Wallet is just as easy as opening a PayPal, Skrill or Neteller Wallet
  • no one has to attend a seminar to pay, trade and benefit from the Bitcoins.

As far as the advantages of Bitcoins are concerned, they differ significantly from the various currencies such as euros, dollars, etc.: they are inflation-proof! Because with the conventional currencies it comes due to the political influences on the central banks again and again to losses in value. Of course, money is reprinted and the value falls, which is inflation, but a lot has been set for Bitcoins and that is 21 million units. That is what gives the whole thing long-term stability.

Through a one-time registration process, Bitcoins become a convenient payment method. The Bitcoin payment method combines the advantages of offline betting in a betting office with the excellent top odds of online betting providers. This is because no private data is transmitted during the transfer. Surely the account has to be verified with the serious bookies, but the transaction always remains anonymous. Furthermore, Bitcoin is an international currency, which means that it works without limits. The Bitcoin is stateless and its value is never affected, even in economically tense times.

How does the bookie benefit from the acceptance of crypto currencies?

Surely the Bitcoin or another crypto currency would never be accepted by a bookmaker if it did not benefit from it. An online betting provider must pay up to 4% fees to payment services or credit card companies per transaction. This is a respectable sum in view of the large number of customers and it is precisely these costs that the bookmaker almost completely saves in crypto currency. This makes Bitcoin sports betting extremely interesting for sports betting providers as well. But that’s not all, because the risk of fraud from remittances or charge backs (with a credit card payment) is also eliminated with this payment option. Some bookies therefore already offer special bonuses if the customer is willing to pay with the Bitcoins in order to push this payment option.

But the bookies also have disadvantages. A disadvantage is that the Bitcoins are still quite “young” and thus in the industry still no long-standing experiences with this payment option exist. But also the online sports betting providers were new on the market years ago and the customers first had to gain experience. Thus, there is a risk that a Bitcoin bookie will turn out to be a fraudster or will not work profitably, making him insolvent. Although anonymity is very advantageous, it also ensures that there are no minimum standards or legal regulations.

However, since the Bitcoin transfer is very fast, a betting customer does not need to transfer large amounts of money. If the betting provider is not trusted, then smaller amounts can be deposited several times, just as much as is needed to place the bet. Although you can already buy a lot with the Bitcoin, this does not mean that the Bitcoin bookie is comparable to the established provider.

For this very reason the limits to the classic betting providers are still very low and it is not possible to use high amounts. As a rule, the limits are between 1.50 and 5 bitcons, which corresponds to about 340 to 1,150 Euros. This brings us to another important point: the Bitcoins exchange rate. This is subject to significant fluctuations, as can be seen from the rate table, which means both opportunities and risks for the sports weather.

What does the Bitcoin ultimately mean for bets?

The experts assume that between 50 and 60 % of all Bitcoin transactions are already related to online gaming or online sports betting. This means that the market is large and the number of providers offering Bitcoin as a payment option is growing steadily.

There is a reason for this: For the USA, Bitcoins represent a good loophole for the gambling market, as gambling is currently only permitted in the states of New Jersey, Nevada and Delaware. In all others, gambling is illegal and so are the Bitcon bookies. But because of their anonymity, the providers with Bitcoin payment options are springing up like mushrooms for American citizens. The reason is that it is not possible for the US government to regulate these transactions, but the transactions with other means of payment. In the past, financial institutions have frozen countless accounts by invoking the Wire Act of 1961. But since Bitcoins are not transferred, but the payment is made to the websites, the payment process is not traceable.

Finally, it should be mentioned again that Bitcoin & Co. is a very young phenomenon. Even though experts predict that this currency will turn the financial lives of consumers and traders upside down, there are still many skeptics and critics. It is important that before using Bitcoins as a means of payment to top up a player’s account, everyone should take a close look at the issue! The latest news about crypto currencies is helpful for this.