7 Tips and Tricks for Bitcoin Sports Betting

When it comes to online sports betting, Bitcoin is your best bet. It's easier and more efficient for players (and sports betting sites) to use Bitcoin because it helps maintain anonymity, security, and facilitates faster transactions than tradition payment methods.

Below are 7 tips and tricks for Bitcoin sports betting that will help keep you winning and out of the black.

1. Know how to manage your Bitcoin:

Let’s face it, the main goal for online sports betting is to have fun and win Bitcoin. Losing the Bitcoin you started with defeats your original goal. Always set aside a portion of your bankroll that you don’t mind losing, and never chase your losses by placing bigger bets. Most pros recommend that you should never bet more than 5% of you bankroll on any one game. Spread out your bets and increase your winnings.

2. Do your homework before placing a sports bet:

Whenever you start something new, you always do research, right? Sports betting is no different. Before placing a bet on your next game, check the statistics and trends of each team. Become an expert on a particular sports team, sport, or conference. The more narrow your niche, the easier it is to do research when betting, and the better chance you have of winning.

3. Sports betting is all about timing:

To better your odds you need to bet at the right time. For example, if you bet on a favorite, you need to wager early while pros are dropping their dough on points. If you’re going to bet on an underdog, bet as late as possible because usually there will be heavy action on the favorite before the match. This doesn’t work for all sports betting, but it’s definitely a solid guideline.

4. Pick a good Bitcoin sportsbook:

There are tons of sites available for Bitcoin sports betting, but only bet with sites you know are trustworthy and secure. The last thing you want is for a site to get hacked and you lose your bankroll. Read online reviews and see what kind of security the site offers. An up-and-coming site we recommend to beginners and pros alike is Nextbit.co (they continually release features so keep checking back). Nextbit.co uses high-level encryption and security. They also have an easy-to-use interface, and offer fast cash outs and deposits. But regardless who you bet with, make sure it’s a premium site with premium features.

5. Know the games and read the sportsbook carefully:

This is more common sense than a secret. But you’d be surprised how many people lose because they didn’t read the rules specific to the Bitcoin sportsbook they were betting with. Before you bet, always read the Bitcoin sportsbook rules carefully and know the rules of the game you’re betting on. With these helpful tips, you can now start successfully betting with Bitcoin and increase your sports betting bankroll.