Sports Betting Odds in CryptoCasino

Sports Betting Odds in CryptoCasino

Last updated: July 1, 2024

Samuel Okunsolawo

Written by Samuel Okunsolawo — Samuel Okunsolawo has been writing about iGaming for more than six years, and he's rather good at it. Samuel has contributed to numerous online gaming platforms and magazines, known for his engaging writing style and smart analysis. Online casinos, sports betting, cryptocurrency casinos, and game reviews are just a few areas in which he excels. Samuel is well-respected by both readers and professionals in the field for his commitment to presenting information that is both accurate and current.

CryptoCasino, a cross-platform betting site launched in 2019, offers a sportsbook section to wager on sports events. It offers competitive odds on sports, including football, basketball, tennis, rugby, and 12 others. The site also provides markets for the top leagues like EPL, Serie A, La Liga, and Bundesliga.

To get started, you need to know how to read sports betting odds and understand the various wagers available. In this article, we’ll provide all the details for you to stake on sports odds with crypto.

How to Read Betting Odds

Sports betting odds represent the probability of a specific result happening in an event. You must understand how to read them. Most crypto sports books often provide their odds in one of the two most common formats: American and Decimal. Here are a few details on both of them:

American Odds

Unlike the decimal odds, these are represented by positive or negative numbers. For example, in a La Liga fixture between Real Madrid and Las Palmas, the betting odds were -235 and +550, respectively. The minus sign indicates the favorites and what you would have to wager to win $100. So, if you bet $235 on Real Madrid and they win, the sportsbook funds your account with the predetermined return.

On the other hand, the plus sign represents the underdog and the cash you will win if you place a $100 wager. Make that bet on Las Palmas, and you’ll receive $550 if they win. Remember that you are not required to wager the amount the money line indicates. Whether you can wager more or less, the return will be equated with your stake.

Decimal Odds

Decimal is the most common odds format among sports punters. These values represent the multiplier applied to the stake, which will be used to calculate the total return.

For example, a sportsbook can give an odds of 2.50 for a team to win, and you wager $100 on it. You can do the math and multiply both values to get your payout amount, which is $250.

How to Bet on Sports

Before wagering on sports events at CryptoCasino, you need to understand the basics of sports betting Bitcoin. Below are the details you need to get started.

Setting Up a Crypto Wallet

You need to open a crypto wallet to store your digital currencies before betting on the CryptoCasino site. First, choose a reputable provider and follow the instructions to set up an account. Once set up, buy your preferred cryptocurrency from a trusted exchange and transfer it to your wallet.

Understanding Bet Types

There are different types of bets, and understanding them will help you make more informed decisions. While some offer high risk but more reward, others do the opposite. Here are some of the most common bets:

  • Single Bets: For this bet, you need to predict the outcome of a single sports match. For example, you select the football odds for one game or event and stake. For example, you can place a wager using the Premier League winner betting odds on the team that would win the EPL.
  • Parlays: In this bet, you combine multiple wagers into one. All selections must win for the parlay to pay out, but remember that the reward is usually higher.
  • Live Bets: You can use this bet to wager while the match progresses. Note that the odds constantly fluctuate, depending on the game's flow.

Placing a Bet

Once you’ve funded your wallet, log in to your CryptoCasino account and deposit some cash. Next, head to the sportsbook section and select the sport and event you want to bet on. Choose your bet type, and enter your stake. Complete your bet and wait for the result.

Moneyline vs. Point Spread

CryptoCasino offers several betting markets in its sportsbook, both popular and uncommon ones. Here is a comparison between the most common ones.

CryptoCasino offers several betting markets in its sportsbook,

What are Moneyline Bets?

Often known as matchwinner, moneyline bet is a straightforward wager where you bet on which team or player will win a match. It's pretty beginner-friendly since you don't need much research.

What Does Point Spread Mean?

Point spread bets are a bit more complex which doesn’t focus not just on who wins or loses. You can bet on the favorite to win more than the spread or the underdog to lose less than the spread to cover the bet. This type of bet levels the playing field, offering balanced odds for both teams.

Comparative Analysis

Moneylines and point spreads are popular markets, each with a different approach. Match winner is perfect for simple bets, mainly when there is a clear favorite and underdog. However, the point spread requires more research and is better suited for bettors who understand both teams' strengths and weaknesses.

In comparison, a moneyline is easier to understand, but a point spread can be more engaging for experienced bettors. Eventually, choosing between either one depends on your betting style or preference.

Advantages of Using Cryptocurrency in Betting

There are quite some benefits to making a bet with cryptocurrencies, such as higher security and privacy and fast processing speed. Here are details on the advantages:

Security and Anonymity

Cryptocurrency ensures that all transactions on the site are more secure. By using Ethereum betting sites or platforms that accept other crypto coins, you can be sure that every deposit and withdrawal is fully encrypted. You also get to bet anonymously without giving personal information. This privacy will protect you from being a victim of identity theft.

Speed and Efficiency

Another exciting benefit is the speed and efficiency of transactions. Unlike traditional banking methods, which take several days, cryptos are processed in minutes. Consequently, this simplifies your sports betting with crypto process, and you receive your winnings almost immediately.

Lower Fees

Cryptocurrency transactions often have very low or even no fees. Blockchain technology eliminates the need for intermediaries, reducing the transaction cost. You only need to pay the network charges.

Conclusion

Understanding the betting odds and markets can help you choose your preferred wager and maximize your winnings. The addition of cryptocurrency also simplifies your gambling experience. With that come several benefits, including enhanced security, anonymity, and lower costs. You can enjoy all these advantages and more at CryptoCasino. Note that betting can be exciting and entertaining; however, it's strongly advised to wager responsibly to avoid gambling issues.