Tutorial: How to make your first sports bet on bitcoins
If you’ve wondered what sports betting is all about and how the betting process is for your favorite team, this article is for you.
The first thing you should understand is how much the bookmakers pay for your predictions. The amount of money that the bookmakers pay is determined by the “quotas”. Suppose there is a clash between two hypothetical teams, say team “A” and team “B”, and odds are as follows: 1.65 for team “A” and 2.25 for team “B”, this means That if you bet by team “A” you will pay 1.65 for each bitcoin you bet on him, ie you would have a 65% gain on your initial investment.
Similarly, and continuing with the example above if you bet on team “B” you would be paying 2.25 for each bitcoin you bet on it, ie you would have a gain of 125% on your initial investment.
If you wonder why the house of bet pays more money for the team “B” that is because it is very likely that this team loses, that is to say as long as the amount of money that the house of bets is paying more for your bet to a team The greater the probability that this team will lose, so think carefully before betting.
Another thing you have to keep in mind is that certain sporting events besides a team win or lose there is the possibility that these teams tie. So a bet on a team could become three possible options: That the team win, tie or lose, that reduce your chances of getting it right.
Now let’s take a real example. We are going to place a sports bet on one of the most popular sportsbet.io sites, placing a sports bet on this site is very simple, you just have to register and deposit a minimum amount of 0.001 BTC (1 mBTC).
We have deposited the minimum amount (1 mBTC) in our sportbet.io account and now we are going to choose a sports match to place a bet. Let’s choose the classic Spanish football FC Barcelona vs. Real Madrid.
The following image shows how are the bets at the moment for the classic:
Once you select your option you go to the part that says “Bet slip” and enter your bet, choose the option: “Acept all changes” and press the “Place Bet” button, as shown in the image:
After doing this you must confirm your bet as shown in the following image:
Now you can go to the “Active Bets” section to see your active bets, as shown in the following image:
Now you just have to wait until the end of the game to know if you win your bet. If you saw the match and you know that I lost my bet, the game ended tied 1 to 1, however it was exciting to add an extra ingredient to the excitement of watching your favorite team’s match.
Another thing you can keep in mind are the promotions that occasionally bookmakers offer. Sportbet offers fantastic promotions in certain sports events, for example there is a promotion for a boxing match between Joshua vs Molina, if the boxer you bet down falls before the 6th Round then Sportbet will refund all your money as long as your bet exceeds The 100 mBTC.
There are many similar promotions for the NBA, NFL, Premier League, and many more. In Sportbet you also accumulate points every time you hit a bet, every month prizes are distributed to the first 15 leaders in points, another excellent way to win.
I hope you are luckier than me and win your bet, you already have everything you need to be a winner enjoy it.
Disclaimer: This press release is for informational purposes only. Information does not constitute an investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent infocoin views and should not be attributed to Infocoin.