Due to regulations and different laws in various countries around the world, not all customers are welcome everywhere. Mainly US players are constricted through these methods, but there are other countries as well. The first thing that you need to establish is whether the sportsbook service accepts people from your country. Bitcoin can help to enable citizens from typically restricted countries to participate in online gambling activities, because of the unique properties of BTC and the anonymity it provides its users.
Since we are using cryptocurrency, there is no real requirement for you to share personal information with the betting provider. Depending on your preference for this matter, there are available choices that require personal information and those that do not.
This is a term used to describe the income that the bookkeeper is making long-term. They maintain equal difference between odds and payout while balancing their books. In order for the sportsbook to be a consistent winner, it needs to attract the same amount of money on both sides of a specific bet. This way regardless of who wins, the house is in profits.
By embedding their margin within the odds for a specific match it is rather invisible to the naked eye. One way to discover it is through mathematics, with this formula:
((1/Odds Team A)x100) + ((1/Odds Even)x100) + ((1/Odds Team B)x100) = 100% + Margin%
Let’s use this example to illustrate how you would perform this calculation
Tottenham vs West Ham
Tottenham win = 1.50 | Draw = 4.50 | West Ham win = 7.00
The formula would be used as such:
((1/1.5) x 100) + ((1/4.5) x 100) + ((1/7) x 100) = 100% + Profit Margin
66.6% + 22.2% + 14.3% = 100% + Profit Margin
103.1% = 100% + Profit Margin
Profit Margin = 100% – 103.1% = 3.1%
Once you determine the sportsbook earnings you can make a quality choice and compare them to other services. It’s really a great way to earn more by starting out good.
A lot of Bitcoin bookies have enormous margins, making it harder to turn up with a positive balance from your betting activities.
It’s not all about the odds
The particular odds vary from club to club. This happens because of what we said earlier. If owners want to create money for themselves they need to attract enough bettors to a single match and have them bet equal amounts of money to both sides.
This guarantees that the house will earn its profit margin. This is why the odds keep changing for some games, as the bookies will continually try to balance and guide bettors to a particular selection.
You can use this phenomena to generate extra income for yourself, by following multiple websites and betting where you’re getting the best odds against the profit margin. It’s easy to overcomplicate things, so the particular odds you’re getting are not a realistic measurement by which to choose the best Bitcoin sportsbooks.
Select a nice welcome bonus
Betting services compete against one another by offering welcome bonuses for first time deposits. So if you’re new to online gambling with Bitcoin it might prove quite useful to focus on the welcome bonus that any particular website provides.
Be careful, because some bookies feature amazing welcome bonuses, but they have a very high markup. As we said before this makes it difficult to generate profit from betting in the long-run, so think twice before signing up for something that’s going to cost you.
Some bookmakers have fixed limits when depositing, suggesting that you can’t deposit less than a certain amount. Depending on your bankroll and overall strategy, this can play a big role in your involvement with betting on sports.
Customer service should be a big deciding factor in whether you pick or don’t pick a specific BTC sportsbook. You want to make sure that customer service will be available at all times, should something go wrong or you have any questions.
Before depositing, contact their staff and check their response time and the quality of help you receive. This way you will know for certain that you’re dealing with somebody who’s made sure to be there for you when you need them.
We all want different things
Just like people have different needs, sportsbooks are created to serve particular needs of the audience using the website to bet regularly. The best place is the one that makes you feel satisfied with the process of moneymaking.
Some services have high margins, but they supplement it with a bonus points scheme, while others feature low margins, enabling higher profits in the long run. It’s up to you to choose what is the best bitcoin betting site for you.
Good luck out there!