Bitcoin Betting Sports 15 Top Sites & Advantage Play

bitcoin betting sports feature image

Estimated Reading Time: 38 minutes

Learn how to use bitcoin for sports betting to make money from little known advantage gambling at the best crypto sportsbooks!!

This is a long guide, use “Show” box underneath to see full contents & select topics for your convenience.

Best Bitcoin Betting Sports Sites List

We are listing up the best Bitcoin Sportsbooks & Bitcoin Betting Exchange. These sites have been selected based on the industrial reputation, bitcoin sports betting forum & our members’ feedback on security, user-interface & smooth withdrawal etc. There are two types of Bitcoin online sports betting sites;

  • Exclusive Bitcoin Sports Betting Sites
  • Conventional Sports Betting Sites Accepting Bitcoin (Hybrid of fiat currency & cryptocurrency)

1) Nitrogen Sports

nitrogen sports logo

  • Type: Exclusive Bitcoin Sportsbook 
  • License: San Jose Costa Rica, and founded in 2012
  • This is one of the most reputable & highly rated Bitcoin Sports Betting sites
  • Offer: Provide One of the Most Competitive Industrial Odds – As explained, Value Bet System: ZCode (Success Formula) use Nitrogen
  • No personal information including e-mail is needed to register, the only requirement is Setting User Name & PW
  • Totally anonymous bitcoin sports betting account
  • Restricted Countries: None
  • Start: Register Even Without Email

2) CloudBet

cloudbet logo

  • Type: Exclusive Bitcoin Sportsbook
  • License: Curacao, and founded in 2013
  • Probably the highest betting limits among bitcoin exclusive sportsbooks
  • Offer: Conduct Regular Special Promotion
  • Only e-mail & DOB (Date Of Birth) information is required to open an account
  • Basically anonymous account (may require KYC only if suspicious activity detected as of May 2020)
  • Restricted Countries: UK, US, Hong Kong and Singapore
  • Start: Claim Up To 5 BTC Bonus

3) Sportsbet.io

sportsbetio logo

  • Type: Exclusive Bitcoin Sportsbook
  • License: Curacao, and founded in 2016
  • Offer: Daily price boosts, weekly $500 cash leaderboards, sports live streams etc.
  • Recently added horse racing market and good reputation on bitcoin live sports betting
  • Only e-mail & DOB (Date Of Birth) information is required to open an account
  • Not anonymous (KYC verification mandatory)
  • Restricted Country: UK, USA, Australia & Estonia 
  • Start: Claim 300% Bonus (Deposit & Get x3 Free Bet up to mB6)
  • * They started accepting Not Only BTC but also $ / € & Several Other Fiat Currencies

4) OneHash

onehash logo

  • Type: Exclusive Bitcoin Sportsbook
  • License: San Jose Costa Rica, and founded in 2012
  • Mutual Betting (Peer To Peer) System, watch the video in the appendix for details
  • The fee is set 5% but generally, quite competitive odds are found
  • Restricted Countries: None
  • To sign up, provide your e-mail to get an email message with a link and click the link to get a form for a password, all done
  • Totally anonymous bitcoin sports betting site (as of May 2020)
  • Start: Claim Up To 1 BTC Bonus  

5) Stake 

stake casino logo

  • Type: Exclusive Bitcoin Sportsbook 
  • License: Curacao, and founded in 2017
  • Very active forum called Stake Community and chat stream are available
  • Accept Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash and Ripple
  • For registration, you just need a username, password and an email address
  • Restricted Countries: USA, Curacao, Syria, Iran, North Korea, Australia, Netherlands, France and Dutch West Indies
  • Basically anonymous account (may require KYC only if suspicious activity detected as of May 2020)
  • Start: Exploit Various Ongoing Bonuses 

6) Betcoin

betcoin logo

  • Type: Exclusive Bitcoin Sportsbook
  • License: San Jose Costa Rica, and founded in 2013
  • Offer: 50% 2nd Deposit Bonus & 25% 3rd Deposit Bonus
  • Restricted Countries: T&C says the website accepts players only from those countries and geographic regions where online gambling is allowed by law. 
  • Only e-mail (on top of setting up User Name & PW) is required as personal information to open an account
  • Basically anonymous account (may require KYC only if suspicious activity detected as of May 2020)
  • Start: Claim Up To 1BTC Bonus + 10 Free Spins 

7) BetBTC

betbtc new logo

  • Type: Exclusive Bitcoin Sportsbook
  • License: San Jose Costa Rica, and founded in 2014
  • No personal information including e-mail is needed to register, the only requirement is Setting User Name & PW
  • Restricted Country: UK (T&C says “We reserve the right to block your account if we find it’s from the UK. In this case if the account balance is not empty, we will reimburse the funds to the origin bitcoin address.") 
  • Totally anonymous (the chat advisor confirmed “We don’t require KYC on our users. You can open an account, place bets and withdrawal without sending any documentation")
    Start: Claim Up To 1BTC Bonus

8) Fairlay

fairlay logo

  • Type: Exclusive Crypto Sports Betting Exchange
  • License: San Jose Costa Rica, and founded in 2013 (originally in London)
  • Trustworthy Operation receiving regular independent audit on a full reserve of the customer fund – see Proof Of Reserves
  • Commission on winning: 0.25%
  • Market Coverage is quite good including horse racing (see the screenshot in the appendix)
  • Obviously the highest liquidity
  • Only e-mail (on top of setting up User Name & PW) is required as personal information to open an account
  • Not anonymous (KYC verification mandatory)
  • Restricted Regions: USA, Costa Rica, Iran, North Korea & UK (Only Binary Market) 
  • Start: Free Registration 

Now, we are listing Conventional Bookmakers that also accept Bitcoin & cryptocurrencies. The following general rules apply to all sportsbooks here;

  • Unlike Bitcoin Exclusive Betting sites, no anonymous accounts here.
  • The process for sports betting bitcoin deposits and withdrawals is the same as any other Bitcoin transaction explained later. Therefore, you’ll simply need to obtain each bookmaker’s wallet address from the site’s Deposit page, open your own wallet, and send your preferred amount of Bitcoin, of which minimum amount is required $10 – 25 depending on the bookmaker. When it comes to waiting times, usually less than 15-minute to validate transaction blocks and add them to the blockchain.
  • Sometimes you will find exclusive sports betting bitcoin bonus, so check the promotion page regularly.
  • For Bitcoin withdrawals, the minimum amount is set around $10 – 50 and the maximum limit is $1,000 – No-Limit (5Dimes), and 48-hour wait seems to be the standard, generally much quicker than other methods.
  • No fees of any kind are charged to Bitcoin deposits & withdrawal but BetOnline charges 2% fee on the total withdrawal amount.
  • Needless to say, only users who have deposited using Bitcoin can take advantage of the Bitcoin withdrawal option to prevent money laundering.

9) BetOnline

Betonline Worldwide Acceptance Bookmaker

  • License: Panama, and founded in 1991
  • Restricted Countries: Australia, France & Panama
  • Given the Generous Reload Bonuses, it is ideal for Matched Bettors.
  • Reload bonus – 35% up to $1,000 for Every Qualifying Deposit Use Code “CRYPTO35 " (x6 Rollover)
  • Start: Claim Up To $1,000 Bonus – Go To Promotion & Don’t Forget To Input Code “CRYPTO100 “

10) Sports Betting AG

Sports Betting, BetOnline Group Bookmaker Logo

  • License: Panama, and founded in 2003
  • Sports Betting AG is a complete Clone To BetOnline and all the same policy, rules & promotion apply.
  • Restricted Countries: Australia, France & Panama
  • Given the Generous Reload Bonuses, it is ideal for Matched Bettors.
  • Reload bonus – 35% up to $1,000 for Every Qualifying Deposit Use Code “35CRYPTO " (x6 Rollover)
  • Start: Claim Up To $1,000 Bonus – Don’t Forget To Input Code “100CRYPTO " 
  • * Note, the promotion code is slightly different from BetOnline.

11) Bookmaker EU

Bookmaker eu Sharp Punter Welcome

  • License: Costa Rica, and founded in 1985
  • Restricted Countries: France & Costa Rica
  • A Leader of Offshore Bookmaker welcoming professional punters as well as providing highly competitive odds with the slogan of “Where The Line Originates”, and supported by ZCode (see Success Formula), see their review screenshot in the appendix.
  • Reload bonus: 10 – 20% Up To $800 For Every Reload Depending on the Membership
  • Start: Claim Up To $600 Bonus

12) 5Dimes

5Dimes The Most Extensive Sports Market Cover Bookmaker

  • License: Costa Rica, and founded in 1996
  • Restricted Countries: UK, France, Portugal, Hungary, Ukraine & Costa Rica
  • One of the best online bookmakers in the world in every aspect (almost all reputable reviewing sites rank 5Dimes among top 3), also supported by ZCode (check Success Formula), see their review screenshot in the appendix.
  • If you deposit exclusively with Bitcoin, they will not impose any limit on your withdrawal.
  • Start: Claim Up To $520 Bonus 

13) Bovada

Bovada Bookmaker for US Players

  • License: Quebec Canada, and founded in 2011
  • Restricted Countries: Many Countries Restricted But USA Accepted (Use the below link to confirm if your country is accepted)
  • Unlike other bookies setting 45 minutes waiting time for the deposit, Bovada only requires 1-2 minutes, so you can bet instantly when you want.
  • You can enjoy a reload bonus of up to $250
  • Start: Claim Up To $3,750 Bonus

14) Intertops

intertops logo

  • License: Antigua and Barbuda, and founded in 1983
  • Restricted Countries: UK & France
  • One of the oldest online bookmakers in the world and have established a solid reputation, especially for the excellent mobile betting interface.
  • Start: Claim Up To $200 Bonus 

15) 1XBet

1XBet Logo

  • License: Curacao, and founded in 2011
  • Official partner of FC Barcelona in Spanish La Liga
  • Restricted Countries: Burkina Faso, Cyprus, Czech, France, Italy, Kenya, Netherlands, Poland, Spain, Switzerland, UK & USA
  • Start: Claim Up To €1,500 Bonus + 150 Free Spins 

 

Bitcoin Betting Sports

Online sports betting with bitcoin is becoming a popular form of gambling mainly due to secure, cost-effective & anonymous transactions. In this guide, we provide you with how to extend our Advantage Play profit by making the best use of Bitcoin betting sports, which still few people are aware.

bitcoin sports betting advantage play

How does Bitcoin Betting work?

Bitcoin betting sports is simply betting (or funding to) in the sports betting site that accepts bitcoin. Thanks to the Bitcoin’s ability to form instantaneous global transactions in a highly-secure and anonymous way, sports betting using bitcoin is a natural movement in the industry. And many existing online sportsbooks started accepting bitcoin as other fiat currencies while a lot of bitcoin exclusive sportsbook sites are also emerging.

It’s said that over $4.5 billion has been wagered through bitcoin sports betting since 2014. Gamblers obviously make the most of the security, efficiency & privacy which can separate accounts from existing banking and e-wallet platforms.
Now, there seem to be over 1,600 cryptocurrencies. So although we use Bitcoin as a representative of cryptocurrencies in this guide (Bitcoin’s market cap is surely No. 1 with well over 30% share), using the below popular cryptocurrency betting sports is becoming the norm in the betting industry;cryptcurrency symbol list

Despite the speculative nature of cryptocurrencies, Bitcoin and blockchain, its underlying technology, will most likely to hold a key to the new age in global finance and it’s worthwhile exploring how sharp punters exploit the full potential of it and gain risk-free extra income from bitcoin and sports betting.

Is Bitcoin Betting Legal? What About Tax?

Although the legal status varies from state to state & some jurisdictions (such as Argentina and Russia) severely restrict or ban foreign currencies, Bitcoin or cryptocurrencies are completely deregulated and the majority of the countries don’t make the usage of bitcoin itself illegal.

Means, there is basically no restriction on using Bitcoin to fund betting sites (actually any online merchants). In fact, UK Gambling Commission officially views Bitcoin as cash equivalent and started new license condition effective from 31 Oct 2016 (but so far, except Netbet, there are no established UK bookies accepting Bitcoin and many Bitcoin Exclusive Bookies don’t allow UK punters to sign up). BTW, according to on howmuch.net the current Bitcoin legality by country is; Bitcoin legality by country

The key issue is whether online gambling is legitimate in the jurisdiction you reside and whether the operator holds the relevant license. 

For this matter, you need to check with the laws and rules of where you live as they also vary by location. However, simply put, except 8 countries in the world (Cyprus, Poland, North Korea, United Arab Emirates, Singapore, Brunei & Cambodia), players have little worry about gambling online. For further details, go to How To Make Money From Offshore Sports Betting With 3 Advantage Plays.

When it comes to tax, this is absolutely depending on the jurisdiction. In the UK, any gambling gain is not subject to income tax even Professional Gambler don’t need to even declare (also see further details in the above report). However, you may be liable to CGT (Capital Gain Tax) if your holding bitcoin’s price increases, but only on disposal, check the details in HMRC Policy Paper. Anyhow, given the sensitive nature of the subject, suggest you consult your tax specialist for any cryptocurrencies related decision.

  •  

Bitcoin Betting Sports Pros & Cons

Pros for Bitcoin Betting

  • High-Security Nature: Bitcoin Transaction is highly secured, and Anonymous / Pseudonymous Sign-Up Condition (many Bitcoin exclusive sportsbooks don’t ask for KYC documents) enables any players even from the countries where online gambling is prohibited or still legally grey area such as the USA to start it. Above all, you hardly worry about identity theft & any fraud.
  • Quick & Cheap Withdrawal: As you know many sportsbooks offer free deposits but charge a hefty fee on withdrawal. But given the absence of any middleman, basically blockchain transaction doesn’t cost you and very quick typically takes only minutes. 
  • Better Offers: Low transaction cost of BTC together with the much lower costs of developing a cashier section reduce service costs, which allows casinos to provide competitive betting environment. Means, you may often find more generous promotional offers in top bitcoin betting sites.

Cons For Bitcoin Sports Gambling

On the other hand, there are 3 cons.

  • Volatile: Its price bounces up and down every day because it’s still largely traded speculatively. The price may become stable eventually, but at this stage, it is still high risk.
  • Uncertainties: Bitcoin is yet experimental, thus still a lot of uncertainties. It is not a household payment method but just only a limited number of places accepting it as a payment method. Importantly, although Bitcoin is Not Regulated currently and Difficult To Regulate, nobody knows how each government controls it in the future, check Your guide to cryptocurrency regulations around the world and where they are headed.
  • Scam: Many people may view anonymity & un-traceability as an advantage. But naturally, it will invite a lot of rogue sites. Given the lack of legislation and ease of scamming people, it’s inevitable to make careful DD (Due Diligence) before you chose sports betting sites that accept bitcoin. In the above list, we select only the sportsbooks with good tracking record (past performance can’t guarantee any equivalent future though) and have best in class reputation in various forums & review sites.

 

How to use Bitcoin for Sports Betting – Process 

We have drawn 5 Stage of Bitcoin Betting process as;

  • 1. Buying Bitcoin (With Your Fiat Currency) with Bitcoin Wallet
  • 2. Finding Bitcoin Gambling Operators (Sportsbook / Casino)
  • 3. Funding Bitcoin & Betting (Use Advantage Play to Get Guarantee Profits)
  • 4. Withdrawing Winnings
  • 5. Selling Bitcoin (Converting Into Your Fiat Currency)

1. Buying Bitcoin

Firstly, you need to purchase Bitcoin. To do this you need a Bitcoin Wallet / Exchange where you buy bitcoins to fund Bitcoin sportsbook. A bitcoin wallet is exactly like Paypal where you load money onto it. You can use it for shopping or sending to / receiving from other people’s wallets. The only difference is that the money is not kept in your fiat currencies such as USD, EUR & GBP but is converted into Bitcoins. And you can’t physically withdraw your Bitcoin but you need to exchange it back to your original or preferred fiat currency.

Bitcoin Wallet for Sports Betting 

We list the following 2 established Bitcoin Wallet/Exchange;

Coinbase (Not Anonymous)

coinbase logo

  • Coinbase is said to be “The Most Beginner Friendly Bitcoin Exchange" in the world since it was founded in 2012, located in San Francisco USA. If you reside in the USA and store in a USD wallet (on top of BTC wallet), your fund is insured by FDIC in case Coinbase becomes insolvent.
  • You need to go through basic KYC (Know Your Customer) and you can connect your bank account, credit/debit card & PayPal to buy Bitcoin and sell & withdraw into them.
Changelly (Almost Anonymous)

changelly logo

  • Changelly is one of the most trusted anonymous bitcoin exchange/wallet founded in 2013, and currently licensed in Malta.
  • Changelly’s trading algorithms are integrated into large and reputable trading platforms, like Binance & Bittrex, so they can pick & provide the best exchange rate possible in the span of milliseconds.
  • You need to submit an only e-mail address and nothing else, and you can use credit/debit card to buy Bitcoin and sell & withdraw into them.
  • Start HERE to enjoy Semi-Anonymous Condition.

Watch the below video prepared by BetOnline (running 100% deposit bonus up to $1,000) being listed in the above list, which explains the standard procedure using the above Coinbase;

2. Identifying Bitcoin Sportsbook Operators 

There are plenty of Bitcoin online bookmakers on the market. However, as cautioned, you need to be careful about selecting the reputable bitcoin betting sites. Make sure to see our list first rather than shopping around to take other less known sites, and do further due diligence by yourself if you feel necessary. 

3. Funding Bitcoin & Placing a Bet (Use Advantage Play to Get Guarantee Profits)

Funding Bitcoin betting sportsbook 

Using Bitcoin to fund your accounts and place your bets is basically the exact same as you funded your account with cash or a bank card. However, bear it in mind that;

  • Conventional Bookmaker Accepting Bitcoin: You will place a bet in your chosen fiat currency like $ / € / £ and they just accept BTC as one of the depositing methods, means although you fund BTC into Sportsbook, your BTC will be automatically converted into your fiat currency in the account.
  • Bitcoin Exclusive Bookmaker: Your BTC funding from wallet will be deposited & stored in BTC without any conversion, and you will bet in BTC in their platform.

So, we show you how these work in BetOnline another video (it shows bitcoin sports betting app). In this video, they use Coinnomi BTC Wallet rather than Coinbase though, doesn’t matter, the process is the same.

Placing a bet with Bitcoin

When it comes to placing a bet, it’s again Bitcoin exclusive bookmakers are no different than the conventional online sportsbooks. For Conventional Bookies accepting BTC, as explained above, you will bet in your fiat currency so everything is exactly the same. You can locate a list of sports events on their website, select the one you want which will be shown in the bet slip and finally place the bet.

Bitcoin Sports Betting Exchange

We use Bitcoin Betting Exchange as part of Bitcoin Sports Betting Sites since we need to use it to accomplish advantage plays. Note, don’t confuse it with Bitcoin Exchange as we introduced in 1. Buying Bitcoin. Bitcoin BETTING Exchange is the one like Betfair, Matchbook & Smarkets where you bet against your fellow punter instead of against the house with 2 sides of “back” and “lay” bet. Back means you bet on a bet’s outcome to happen while lay means that you want the bet’s outcome Not to happen. In case you are not familiar with how it works, suggest take a look at How to make money on Betting Exchange.

The key point here is how to make Risk-Free Advantage Plays namely Matched Betting & Value Betting. Again, the basic concept is exactly the same as what we do in traditional bookmakers & betting exchange, which we will demonstrate how to do by using the real examples later. Just in case, you’re not familiar with such concepts, suggest take a look at;

4. Withdrawing Winnings & 5. Selling Bitcoin (Converting Into Your Fiat Currency)

Withdrawing BTC to your BTC Wallet and converting into your fiat currency to receive in your bank account/credit or debit card is exactly the opposite process of what you have done in the above 1. – 3. Anyhow, watch the summary video using BOVADA sportsbook (currently welcome bonus up to $250) as below;

 

Advantage Play 1) – Bitcoin Matched Betting

Many people automatically think of Betting = Gambling. Big Misconception. We do betting but don’t count on luck or chance. Instead, we do 6 Advantage Plays (Gambling) based on mathematical edge to beat the bookies, casino & bingo. When it comes to the Sports Betting, we use Matched Betting / Sports Arbitrage / Value Bets Without Hedge to lock-in profit or consistently earn extra income for long-term.

Importantly, this method applies to almost all countries and will pave the way for US Punters to enjoy our Advantage Gambling. This is one of our efforts to encourage US citizens to start earning risk-free extra income via sports betting especially after the Repeal Of PASPA (Professional and Amateur Sports Protection Act of 1992) in May 2018.  Remember that US law makes it illegal to own or operate an online sportsbook in the United States, but any laws including UIGEA (the Unlawful Internet Gambling Enforcement Act) do not make the act of placing a wager illegal via Bitcoin, so bitcoin sports betting usa is basically no problems, just FYI.

Matched Betting Process

Matched Betting Worldwide

Many people imagine matched betting is for only UK & Ireland, wrong,

  • this approach enables everybody in the world including US citizens to make decent profits by using Bitcoin sportsbooks we list in this guide
  • for Germany, Austria and Switzerland residents, suggest this programme that focuses on these 3 countries
  • when it comes to Australia, this service is supposed to be the best.
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Besides, bitcoin exclusive betting exchange (Fairlay) has made many people pursue matched betting easier.

Before, moving further, just get familiar with the following 2 basics related to Bitcoin Betting;

BTC Unit

Firstly, understand the unit you may usually use in betting BTC;

  • mBTC (Millibitcion) equates to 1 / 1,000 of a Bitcoin & numerically represented as 0.001BTC
  • uBTC (Microbitcoin) equates to 1 / 1,000,000 of a Bitcoin & numerically represented as 0.000001BTC

For your convenience, you may want to use BTC Converter.

Odds Format

Secondary, you need to use Decimal Odds Format (European) to make matched betting because Betting Exchange uses Decimal Odds and Matched Betting Calculator is set based on Decimal Odds. You can use the Odds Converter.

Matched Betting Quick Recap

If you know the concept but have not really done Matched Betting, you may want to go through the practical instructions of (1) How Bonus Works(2) Placing Qualifying Bet & (3) Profits Extraction, which will be helpful.

But just briefly, Matched Betting is all about exploiting bookmaker’s bonus such as Sportsbet.IO Welcome Offer of “Make a deposit and place your first qualifying bet on any sport and you’ll receive x3 your stake as a free bet! “.

Remember, you need to go through T&C for each offer. Sports.IO says “Place a bet on any sport (can be pre-live or live, single or multi) of EXACTLY mɃ 2 (µɃ 2,000) / €10 / USD 10 — with odds over 1.50, Receive an mɃ 6 (µɃ 6,000) / € 30 / USD 30 — free bet within 48hrs “. The bold parts are important, they also accept fiat currencies and you need to select the event with over 1.5 odds, then you will get x3 Free Bets.

sportsbet io welcome bonus image

With these conditions, matched betting is Essentially Doing;

  • 2 transactions of Back (bet on win) USD10 on Team A with 1.5< odds at Sportsbet.IO & Lay (bet on NOT win, means both lose & draw like football match case) appropriate USD amount (it can be automatically calculated by Free Software) with the closest odds to back odds on the same Team A at Betting Exchange such as Betfair or Matchbook so that you cover all outcomes.
  • No matter what the event’s result will be, your losing & winning will cancel out each other. In the real practice, usually, 2 bets are not perfectly offset due to the odds difference & exchange commission therefore you make a small loss called Qualifying Loss.
  • However, now you receive USD30 Free Bet. What you need to do is repeating the exact same process but using the free bet for the back bet at Sportsbet.IO. Then, this time the stake you bet at Sports.IO is Free Bet (not your money but free money), therefore it (free bet value – qualifying loss) will become your net profit. Usually, at least 80% of the bonus value can be extracted as a pure profit.
  • Success factor is how to minimize the qualifying loss by selecting the Team whose odds gap (between Sportsbet. IO & Betting Exchange) is the narrowest.

For fiat currency betting exchanges, this report shows all top 4 betting exchange latest sign-up offers & how to extract cash risk-free from each offer including Betfair £100 Free Bet, which is supposed to be one of the best offers in the industry.

In case you can’t access these betting exchanges in your country use this method. 

Matched Betting Real Practice – Exclusive Bitcoin Sportsbook Sites

Let’s see how we can construct matched betting among Bitcoin Exclusive Bookmaker. One of the best sports bonus sites is CloudBet that offers “Join Now To Claim 5BTC Bonus", which sounds great. As usual, we need to carefully check T&C before start doing anything;

cloudbet bonus t and c

Then, we have to know how we receive the loyalty point, which is;

cloudbet loyalty point

Looks not simple. Anyway, in order to simulate how profitable this deal would be via matched betting, I just quickly searched opportunities in Cloudbet and Fairlay (Exchange) and found the Tottenham vs Leicester City instantly as below; cloudbet back odds leicester

Backing Leicester at 5.86 at Cloudbet sounds good matched betting opportunity for relatively long odds (I search longer odds event because it looks advantageous to accumulate loyalty point based on their T&C). Assuming we back 100 mBCT, then the qualifying loss would be;cloudbet matched betting calculationAgain, don’t be bothered by £ unit displayed in the above calculator, just consider it as 4mBCT loss. Then, how can this be translated into the loyalty point and eventually the cash bonus? Their T&C says Loyalty points = stake (in mBTC) x price score (up to 1) The price score is the square root of the odds minus one. Since we stake 100 mBTC (0.1 BTC) with the odds of 5.86, then Loyalty points = 100 x (√5.86 – 1) = 142.1 So, what will this be the cash bonus, 142.1 / 800 = 0.181 point  and 0.178 x 10 mBTC = 1.78 mBTC

So, we lose 4 mBTC to get 1.78 mBTC cash bonus, means 2.22 mBTC net loss. Not good.

Wait, don’t forget that BetBTC also provide a 100% First Deposit Bonus, of which T&C says;

betbtc bonus t and c

Applying Leicester bet to this instruction; 100 mBTC (lay stake) / 20 mBTC = 5 point  so, 5 x 0.1mBTC = 0.5 mBTC

All summing up, (4 mBTC) + 1.78 mBTC + 0.5 mBTC = (1.72 mBTC) resulting in still negative EV (Expected Value).

Conclusion

  • As repeatedly cautioned, you need to carefully check T&C of each offer to determine if that offer provides you with a positive value.
  • The cashback condition of both Cloudbet & BetBTC is quite tough, thus the matched betting between these 2 will not be worth pursuing.
  • The above doesn’t mean we should abandon Cloudbet bonus. Since BetBTC’s 4% commission is a big factor, when the good opportunity with Fair Lay (commission is 0.25%) is found, it would be +EV.
  • BetBTC’s bonus can also be exploited by making matched betting with conventional bookmakers in the way we already explained in the previous section.

Advantage Play 2) – Bitcoin Sports Arbitrage 

Bitcoin Sports Betting Arbitrage Process

There are a lot of arbing opportunities among Bitcoin sportsbook sites as well, and when we look around, small arbitrage opportunities like below can be found regularly;

betonline arb watford&fair lay arb watford vs cardiff

The biggest issue at this stage is that there is no qualified software that covers these bitcoin betting sites. You can manually search the opportunities but practically it is not worth your time.

Given the extremely short-lived arb opportunities, your effort & time will not be paid off without software. So, until the time the high-quality software like RebelBetting starts covering bitcoin betting sites (note that RebelBetting already cover almost all Caribbean Conventional Bookies we list here ), suggest you take an opportunistic approach.

Having said that, the following 4 Guides may help you understand the basic & advanced techniques and do more efficient arbing activities;

When you find the arb, use Arbing Calculator.

Advantage Play 3) – Bitcoin Value Betting 

The House Doesn’t Always Win

So far, we have discussed the advantage play using a hedge, therefore they are risk-free but the size of the profit from each bet is limited due to the hedging nature.

The value betting without hedge is not risk-free but can be much bigger profits with much less risk than normal sports betting. Why? See the below explanation extracted from my separate article;

“The House Always Wins” is the standard saying in the gambling industry. It’s simply based on the fact that the bookmakers/casinos set marginal edge over the players. Means what the bookies pay out to customers is always smaller than the actual chance of the event happening. As a result they will make guaranteed money in long term even they lose in occasional huge jackpot. Why? Because they own a mathematical edge, called House Edge in Casino & Over-round in Sports Betting. Value Betting, on the contrary, is the player’s ability to identify such mathematical edge against a bookmaker or another user on the exchange. Simply put, in Sports Betting, when the selection’s probability of happening is less than it should be, namely Under-round condition, then it offers value and we will not lose but make significant profits in the long run.

We achieve big profits by identifying value bets via Software, Top Tier Tipster and System. We use ZCode System which can best fit for Bitcoin Betting & Worldwide Players including US punters to share the safest model of value betting in bitcoin betting sites.

ZCode System is fond of using Nitrogen Sports (see the below Zcode’s Nitrogensports review) as Bitcoin Exclusive Bookmaker and 5Dime & Bookmaker EU as Conventional Bookmakers Accepting Bitcoin.nitrogen sports feature zcode

ZCode System Both Human & Machine Prediction 

ZCode System is probably one of the most successful sports investing systems in the world. ZCode is used by the punters worldwide. ZCode system comprises Computer Automated Tips based on huge database & Human Expert Tips. Please take a look at; ZCode Full Review for details.

ZCode System Value Bet Process – Safety Model For Newbie

The best way to understand this fantastic system is going through ZCode Proven Model where you will learn the step-by-step process to make $1,500 profits every month on the side.

Importantly, the above guide includes 75% permanent subscription link which is not always active. So, go the guide and check if it’s currently working, if yes, you have your day. 

If you want to use NitrogenSports.EU, watch the below quick video to grab how it works, and don’t forget to convert your betting unit into BTC using BTC Price Convertor;

 

We always value our readers’ feedback, if you have any opinion or suggestion on how to improve our site or any list of information you would like to see in our site or any questions you would like to ask, please let us know via contact

Good Luck On Your Bitcoin Betting!!

Joshua Walker (bio

Editor – Global Extra Money (GEM)

Appendix

Bitcoin Sportsbooks Additional Info 

One Hush – Peer to Peer Mutual Betting video

Fairlay – Market Coverage (including horse racing)

fair lay market coverage

Bookmaker EU – ZCode System’s review

bookmaker eu feature by zcode

5Dimes – ZCode System’s review

5dimes feature by zcode

 

Good Luck On Your Bitcoin Betting Sports!!

Joshua Walker (bio

Editor – Global Extra Money (GEM)