Sports betting can be somewhat overwhelming if you’re new to it. There are many different types of bets a player can make, with different odds and objectives. These bets can be played on a variety of sports and events and are often unrelated to one another.
In this article, we’ll go over some of the most popular sports bets Bitcoin bookmakers offer to their players. It’s important for players to understand the bets and their odds before making a wager. That way the bet is informed by the odds and by the statistics provided by the betting establishment.
Money Line Bet
The money line bet is the most common and the simplest bet you can make with a Bitcoin bookmaker. With this bet, the player simply picks which team will win at the end. The result doesn’t matter and the changes in the result throughout the game don’t matter either.
The odds of winning this bet depend on how the two teams square off against one another and their history. It’s possible to add and accumulate other bets with this one and therefore lower your chances of winning both, but increase your potential winning.
Point Spread
Point spread bet is another very common bet, used by bookmakers to even the odds when one team is significantly better than the other. The goal of this bet isn’t only to predict which team will win but to choose a team that will win with a margin larger than the one set by the bookmaker.
The symbol for a favorite is a minus sign, and the symbol for an underdog is a plus sign. For instance, if a team is given odds of -7.5, that indicates that the victory margin must be greater than 7.5 points.
In this scenario, the other team would be given a price of +7.5, which indicates that in order for them to cover the spread, they must either win the game outright or lose by a margin of fewer than 7.5 points.
Over-Under Bets
Outside of the bets we mentioned, over/under bets are the most widely used. With these bets, the players bet if the combined score of both teams will be over or under a certain number. If they guess they win and if they don’t- they don’t. It’s a simple enough bet and one that can be hacked by carefully studying the statistics for both teams.
The same bet can be made on any other statistics other than the score itself. For instance, players can bet on how many yellow cards, fouls, or substitutions will take place during a match. All of that both with Fiat and crypto.
Parlay Bets
A Parlay bet is a bet on multiple winnings at once. It can be a combination of any of the bets we mentioned or of any other bets. The difference is that you need to win at every single bet on your combo list in order to win at a parlay bet.
Parlay bets are the ones that can win the big bucks as they combine and stack on top of each other. They are also more risky since you lose even if one of the matches you bet on doesn’t go your way.
Teaser Bets
Teaser bets are similar to parlay bets but they don’t stack up instead they are treated as one single bet. This type of bet can only be made on point spread betting. Teasers are a popular option for those who want to reduce risk and potentially win smaller payouts compared to traditional straight bets.
Let's say you're interested in NFL betting for two games.
Game 1 has the Kansas City Chiefs as 5-point favorites.
Game 2 features the Dallas Cowboys as 4-point favorites.
For the original totals, Game 1 is set at 48 points, and Game 2 is at 42 points. You decide to place a 6-point teaser bet. Now, your teaser adjustments make the Chiefs -5 become Chiefs +1, and the Cowboys -4 become Cowboys +2.
You also adjust the totals, making Game 1's total 42 and Game 2's total 36. To win your teaser, both the Chiefs and the Cowboys must win or not lose by more than 1 point, and the total points in each game must stay under 42 and 36, respectively.
Prop Bets
Proposition bets or prop bets are general terms for bets on any outcome that’s not directly tied to who will win the game. This means that with these bets you’re not betting on the outcome of the game itself but for instance on who will score a point first, will both teams score a goal, or who will win the following set.
Some players bet on prop bets alone and others use them as parlay bets by adding them to betting on the actual outcome of the game. That way the winnings are higher if you manage to win both bets at once.
Future Bets
Future bets are also rather simple and there are many players that decide to try them out, betting a small amount just for fun. The (crypto) winnings for this bet can be quite high due to its nature, but it’s also one of the riskier bets you can make as it’s made without enough data.
With future bets, the players make a bet on the final outcome of a tournament or a cup. It’s a high-risk bet since you need to figure out who will win the tournament before any games are played. The odds depend on who the tournament declares to be a favorite.
Live Bets
Live bets are different from all the bets on our list since it’s not a unique type of wager. Instead, they refer to any bet that’s made live while the match is still in progress. Bitcoin bookmakers change the odds live as the game unfolds. This allows the players to enjoy high-paced and exciting crypto bets in real-time.
There’s also a cashout option allowing the players to get back a portion of their initial crypto bet by cashing out before the game is actually over. The amount you’re able to withdraw also varies based on how the game progresses in real-time.
Middle Bets
Middle bets are wagers in which the players place a bet on both sides of the match at once. That way the player wins if the outcome fails in the middle of the point spread they’ve wager on.
For example, if Team A is favored by -3 points against Team B, a bettor may place two bets: one on Team A -2.5 and one on Team B +3. If Team A wins by exactly 3 points, both bets win, resulting in a “middle” scenario where the bettor profits from both wagers. Middling requires precise timing and an understanding of the odds to be successful.
Betting Responsibly
Regardless of which kind of bet you decide to make, it’s important to wager responsibly. This means players should carefully study the odds and the statistics behind each team or match. It’s also important to have a stop loss meaning that you won’t bet anymore after you’ve lost a certain amount.
Most Bitcoin bookmakers allow the players to automate this process and sign you out of an account once you’ve reached the designated limit. Betting sites also need to educate the users about the risks of chasing your losses and provide them with assistance in case the players struggle with gambling addiction.
