How Bitcoin Spread Gambling Works
Those familiar with traditional fixed-odd gambling know that winning or losing usually depends on a singular outcome. But spread betting is a system that rewards you on the range of accuracy of results rather than a certain outcome.
What is Bitcoin Spread Gambling?
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from one user to another via the peer-to-peer bitcoin network, without any need for intermediaries. This has made gambling with bitcoin very popular in sportsbooks.
Spread betting is any form of wagering that rewards players on the range of accuracy of result rather than a certain outcome.
Here, spread bets are placed on sporting events aided by Bitcoin gambling platforms.
How does Bitcoin Spread Gambling Work?
Point Spread
Since no two teams are ever the same, their expected margin of victory or loss is never equal. A point spread in bitcoin sports gambling is the way bookmakers matchup two teams by giving or taking away points from each one. The addition and subtraction of points depends on the pedigree of the current state of each team compared to the other.
The favorite in a matchup is indicated by the minus (-) sign. While the underdog is indicated by the plus sign (+).
Odds
In spread betting the standard odds are -110 on both sides, depending on the sportsbook and the state. Which is double your money but with a 9.10% reduction. Meaning if you won a wager of $100 on odds of -110. Your expected return is $90.90 plus your original bet. With a $9.10 fee collected by the book for taking and settling bets. This fee is called a vig or juice.
Some bitcoin gambling sites also offer odds of -105. This difference might not seem much for a single bet, but it accumulates in the long run. Assuming you placed 100 bets of $100 both -110 and -105 odds respectively. And both these bets have a success rate of 60% each.
For -110 odds
$100 for a total of 100 bets = $10,000
60% win on bets: 60 x $90.90 = $5,454
Profit + stake returned: $5,454 + $6,000 = $11,454
Making a total profit of 14.54% (1,454 / 10,000)
For -105 odds
$100 for a total of 100 bets = $10,000
60% win on bets: 60 x $95.20 = $5,712
Profit + stake returned: $5,712 + $6,000 = $11,712
Making a total profit of 17.12% (1,712 / 10,000)
This equates to a difference of $258 off odd-difference alone. For this reason, scouting for the best sites for gambling with Bitcoin is very important. This is because, with the best prices, you’re placing yourself in the best position for better long-term rewards.
Example of Bitcoin Spread Gambling
Some practical examples might help you understand point spreads and odds better. Spread gamling is very popular in American sports e.g. NFL, NBA, NCAA, etc. So take for example an NBA game between the Golden State Warriors and the Milwaukee Bucks.
Here is an example of how the point spread might look on a Bitcoin gambling site:
|
Golden State Warriors VS Milwaukee Bucks Betting Odds |
||
|
Team |
Point Spread |
Odds |
|
Golden State Warriors |
-5.5 |
-110 |
|
Milwaukee Bucks |
+5.5 |
-110 |
As seen above, Golden State are 5.5-point favorites, meaning the Warriors would have to win by 6 or more points to win the bet. On the other hand, Milwaukee are 5.5-point underdogs which means they have to win outright or not lose by more than five points.
If the Warriors win 115-112, they win by three points but DO NOT cover the 5.5 points. But the Bucks have “covered the spread” by staying between the 5.5 points.
Why Should You Play Bitcoin Spread Gambling?
Spread betting is good because it allows you to bet on heavily favored teams without incurring excessive financial risks. Take, for example, the Phoenix Suns are 10 points favorites against the LA Lakers. If you were gambling on them to win on the moneyline, you would likely be risking over seven times the original stake. But with spread betting, you would only pay a (-110) price.
Another reason to consider spread betting is that you can bet on the underdog and not worry about them winning. If I bet on the LA Lakers (+10) against the Suns as long as they do not lose by more than nine points you win the bet. Spread gambling offers players a range of options.
Bitcoin Spread Gambling Tips for Beginners
If you’re new to Bitcoin spread betting then there are a few things to note before upping your stakes. Gambling with bitcoin via spread betting has its risks, but here are some tips to help:
Stake Small: With this, you won’t win big at first but most importantly, you can control your losses. This helps you acclimatize to spread betting, and gather some profits, before eventually increasing your stake.
Stick to markets you know: Gambling with bitcoin on sports you are familiar with is always advised.
Make sure you know what a market is and how results are calculated: While some markets are intuitive some are a bit complex. Most bitcoin gambling sites have information buttons usually indicated by “I” to learn more about a particular market.
If you are not sure of anything it is advised you don’t get involved: Reaching out to customer care to assist you is always a good idea.
Make the most of promotions: Make sure you’re subscribed to emails, newsletters, and text that offer promotions to thousands of users. Sometimes these bitcoin gambling sites offer promotions depending on sporting events going on in that period.
Conclusion
Traditionally, spread gambling has always had a huge attraction for bettors. It is one of the most popular forms of gambling in American sports. The kind of safety spread betting affords trumps many of the other popular forms of sports betting. Plus, the addition of Bitcoin gambling has made bitcoin spread betting a quality choice in its own unique way.