Betting on sports with cryptocurrency
A Variety of Ways to Bet
The popularity of the NFL has led to the rise of numerous betting sites and a healthy betting culture. There are a lot of options for how you bet both in terms of how you bet and what you bet on. You can place bets with sportsbooks either online or in-person. The available options depend on where you live.
There are several different common types of bets. A moneyline bet is the most straightforward. You simply choose the team you think is going to win. The payout depends on the odds.
A point spread bet is similar to moneyline but the favorite must win by a certain amount. For example, if the spread is minus three, the favorite must win by at least four points to pay out. Whereas the underdog simply has to lose by three or fewer points.
Since there are many games played over the weekend, people sometimes make parlay bets. These are combination bets in which you make several picks. You only win if every pick is correct. Parlays generally have high payouts but are hard to win.
Betting With Bitcoin
Increasingly, people are betting using Bitcoin. This is done primarily online and offers some great advantages to players. The process is simple: you fund a betting site wallet by exchanging fiat currency into Bitcoin. Then you place your bets through the site just like you would with any other form of currency. Whenever you want to withdraw money, you simply exchange it back to fiat. You can also sometimes transfer in Bitcoin from other sources.
Many people prefer to bet with Bitcoin. These are a few of the advantages it can offer:
- Transactions Speeds: Compared to bank transfers and similar, conventional transactions, Bitcoin is very fast. This means you can fund your account and make withdrawals easily.
- Low Fees: Bitcoin processing fees are low compared to traditional payment types. This means more of your money can go towards betting.
- Anonymity: Many people prefer to make their bets in private. With Bitcoin, your money is more anonymous and helps protect your private information.
- Higher Limits: You can usually place higher bets with Bitcoin. If you want to bet big, then the cryptocurrency is the right choice for you.
- Bonuses: Many sites offer bonuses for Bitcoin such as matching your initial deposit. This is a great way to get more from your Bitcoin betting.
Where to Bet on the NFL With Bitcoin
If you want to bet on the NFL using Bitcoin, there are a few options. Cloudbet is one of the most popular Bitcoin betting sites. It offers a great bonus on the first deposit of a 100% match up to 5 Bitcoin. That is a great way to get started.
FortuneJack offers a match of 110% up to 1.5 Bitcoin on the first deposit. It is another popular site for sports betting and also offers various casino games.
Nitrogen Sports is a popular bitcoin betting site for people who value anonymity. There are no bonuses for signing up, but you can deposit and withdraw money without any personal information. Your account is anonymous and protected by two-factor authentication.
Is It Legal to Bet on NFL Games?
In the United States, sports betting is only legal in some states. In Iowa, New Jersey, Nevada, Pennsylvania, Rhode Island and West Virginia, players can bet online. In Arkansas, Delaware, Indiana, Mississippi, New Mexico, New York and Oregon players can bet in-person.
How Do Point Spread Bets Work?
Point spreads are a way to make lopsided games more interesting. Instead of simply betting on who will win, players bet on whether the favorite can be the spread or not. For example, if there is a spread of minus six, the favorite would need to win by at least seven points to pay out. The underdog either needs to win or lose by six points or less to pay out.
How Does Betting on Totals Work?
Betting on totals, also called an over/under bet, is a bet on the total points scored in the game. For example, if the over/under is 42, then you can bet whether the combined score of both teams will be greater than or less than 42. If the score is exactly 42, then the bet is a push and it gets refunded,
How Are NFL Betting Odds Determined?
Every sportsbook has oddsmakers it uses to determine the odds. Many oddsmakers use statistical models to predict the most likely outcomes of each game. The goal of sportsbooks is to attract equal bets on each side of the odds