8 Best Crypto Sports Betting Sites (2023)

Everything You Need To Know About Sports Betting Odds

When it comes down to it, the way you take out a stack of winnings from any sports betting site is with odds.

Odds are simply the likelihood of something happening, with some results being a safer bet than others.

For instance, if you put your son’s Little League team up against the New York Yankees, the odds are going to be in favor of the Yankees sending your little guys home for an early dinner!

Therefore, when you shop around for a great crypto betting site, it’s imperative that you have a good understanding of sports betting odds.

Luckily, BTC betting sites usually offer far better odds than fiat currency operators.

If you’re new to the world of sports betting and crypto, let me guide you through everything you need to know about sports betting odds. 

American Odds

Unsurprisingly, the American odds system is used mainly in the USA.

Other countries use fractions or decimals (which I’ll explain in a moment), but the American system favors using plus or minus symbols to display the odds. 

It’s important to know that when calculating American odds, the baseline value used is always $100.

Therefore, odds on the less likely team to win will have a number with a (+) sign, to indicate how much you could potentially take home for every $100 you bet.

On the other hand, the favorites will have a (-) sign, to indicate how much you would need to stake to win $100.

To further explain, let’s take a look at some examples of American odds:

• Odds of +110: wager $100 a get a total return of $210

• Odds of -110: wager $100 and get a total return of $90.91

• Odds of +150: wagering $100 and get a total return of $150

• Odds of -150: wager $100 and get a total return of $166.67

• Odds of +300: wager $100 and get a total return of $400

• Odds of -300: wager $100 get a return of $133.33

Decimal Odds

Decimal odds are most popular with European bettors.

To calculate your winnings using decimals odds, you multiply your bet amount by the odds.

For instance, if you wish to bet $100 on the UK to beat Germany in the World Cup at odds of 1.6, you multiply 100 x 1.6, which equals 160.

If England wins, you take home $60, because 160 – 100 = 60.

You can also use decimal odds to work out percentages. This lets you see the likely outcome of any match or event easily. To do this, simply divide the odds by 100.

As per the above example, England has a 62.5% chance of winning because 100 ÷ 1.6 = 62.5.

Fractional Odds

Fractional odds are mainly used in the United Kingdom and Ireland.

These odds are characterized by a slash between two numbers.

For example, if you see odds of 6/1, you win $7 for every $1 you risk (minus the $1 you bet).

So if you bet $10 at odds of 6/1, you win $70. Take off the bet amount of $10, and you’re left with a total of $60 winnings.

An easy way to think of it is like this: the figure on the left of the slash is your potential winnings if you stake the amount on the right of the slash.

For instance, you back the Tennessee Titans to beat the Tampa Bay Buccaneers at odds of 11/4. This means your potential winnings are $11 for every $4 you bet, minus your initial bet amount.

Value Betting

Any seasoned bettor will be aware of value betting and how great it can be for boosting your winnings.

Cutting through the nonsense, a “value bet” is simply when a sportsbook makes a mistake, and gives out better or worse odds on an outcome than it should.

If you can identify these errors, you can take advantage of them.

Value bets can be incredibly lucrative for those smart enough to spot them. Regardless of which odds system you use, hunting for value bets is an art form. Also, sportsbook operators make these kinds of errors more than you think. 

Let’s look at an example:

Manchester City are playing Arsenal in the English Premier League.

Your Bitcoin betting site offers you odds of 2.50 on Man City winning (3/2 in fractional odds and +150 in American odds).

With odds of 2.50, most bookmakers will predict that Man City have a 40% chance of beating Arsenal.

This looks like a pretty good bet.

However, you do some research and realize that Arsenal have had a tremendous season so far, and that Man City’s major goal scorers are injured and not playing in the upcoming match.

Do you still take this bet? Well, that’s up to you. But the initial 40% probability is probably incorrect. The real probability is more like 30%. So perhaps a tactical bet on Arsenal will bring you home a bigger win.

Best Types of Sports Bets

Just as competitive odds are imperative to calculating your winnings, so are the types of bet that you make. 

Also known as “markets”, there are countless types of bets you can make across different sports to optimize your chances of winning.

With that in mind, let’s take a look at some of the best types of sports bets, and which sports they typically apply to.

Win Market

The most popular betting market is the most straightforward: back one team or player to win over another.

These types of bets are called “moneyline” bets in the USA, as they offer 2-3 outcomes, and are based on odds alone.

For example, you can bet that the Boston Celtics will beat the Los Angeles Lakers in the next NBA match.

Although it is a simple market to understand, there are some minor differences to consider, depending on the sport you bet on.

Soccer

Soccer’s win market gives you 3 choices: win, lose or draw.

While backing one team to win over another, draws are more common than you think, with 25% to 30% of games ending in 0:0, 1:1, 2:2 etc.

Soccer also has the following variations on the Moneyline:

• Draw No Bet: if your selection draws, you get your bet amount back. You win if the team wins

• Double Chance: you win if your selection doesn’t lose. However, you win the same amount whether the team wins or draws

Basketball/ American Football/ Baseball

In many US sports, games that end in a tie move into overtime, to increase the chances of one team winning.

Basketball, American football and baseball are three examples of sports that go into overtime.

As a result, far fewer American games end in a tie, with American football being the exception.

You’ll find that most sports betting sites that accept crypto don’t offer a “tie” market. But a popular bet is to choose the team that wins specifically in overtime.

Tennis

Tennis is a sport where a tie/draw is impossible. One player must always win.

Therefore, the win market in tennis is one of the easiest to get to grips with.

Just choose the player (or pair in doubles tennis) and back them to win.

Overall Winner

Similar to the win market, this is where you typically predict the winner of a tournament or competition, not just the next match.

For instance, instead of choosing Max Verstappen to win the Monaco Grand Prix, you predict that he will win the entire Formula 1 Championship in 2023. 

Another example would be choosing Australia to win the Ashes, or Arsenal to win the Premier League.

As this is a longer, more complex style of betting, some cryptocurrency sports betting sites will mitigate your risk by letting you back your choice each way.

This means you can win if your selection makes it to a certain stage, usually the semi-final or final.

Over or Under Betting

This is another simple market to understand. 

The BTC betting site will set a benchmark for the amount of points/goals etc. scored throughout one match, and you predict whether the final result will be over or under the score set.

This benchmark will differ a little, depending on the sport you bet on.

For example, you might see a soccer game where Liverpool play Manchester United, and the score is set at 2.5 goals. Your job is simply to guess whether the final result will be over or under 2.5 goals.

Of course, there aren’t half-goals in soccer. But the bookmaker must set a score that is impossible to precisely achieve. Otherwise, the odds of your predicting over or under correctly would no longer be 50/50.

The Next Scorer

This market is ideal for beginners.

As the name implies, the idea is to wager on the next individual or team to score in a match or event.

For instance, you could bet that Arsenal will score the next goal against Tottenham in their upcoming match.

Or you could go further and say that it will be Gabriel Jesus that scores the goal.

Although this market is easy to understand, it often isn’t the most exciting to bet on, especially when it comes to soccer. 

Approximately 7% of top tier European soccer games have zero goals in matches, despite the teams playing for over 90 minutes. So choose your sports wisely if you want to bet on this market!

Handicaps

Some sports don’t offer the greatest odds, period.

Therefore, in place of odds, you can make things more interesting by betting on the handicap market.

With handicap betting, the bookmaker will give the weaker of two teams a virtual advantage, and you must determine whether the favorite is strong enough to win at a disadvantage.

Let’s say that the Milwaukee Bucks are strong favorites to beat the Chicago Bulls and have a -10.5 handicap.

The above handicap means that the Bucks have to win by a minimum of 11 points, putting them at a disadvantage.

Asian handicap

As the name suggests, the Asian handicap market began in Asia.

It is slightly more complicated than the standard handicap market. But it can give you an edge when used correctly, which is why Asian handicap betting is often preferred by seasoned bettors. 

To understand this market better, let’s look at this example of an English Premier League game between Manchester City and Everton:

• Man City (0): you win if Man City wins the game, lose if they lose, and get your money back if they draw

• Man City (-0.25): you win if City wins, lose your money if they lose, and get half your bet back if they draw.

• Man City (-0.5): You lose your full stake if City draws or loses, and only win if Everton wins the game

• Man City (-0.75): You need City to win by two clear goals to win the bet. A draw or loss results in a lost bet, while a one-goal win means you get a ‘half win.’ If the profit for a 2+ goal win is $10, for example, a one-goal win earns you a $5 profit

• Man City (-1): you get your money back if City wins by a goal, win if they defeat Everton by 2+ goals, and lose if Everton lose or draw.

Half/Quarter/Period Markets

This market is perfect for sports where you have breaks, such as half-time and/or quarter periods.

Games like soccer, American football and basketball are all great for making bets within specific time periods.

For example, you can bet on the amount of goals scored in the second half of a soccer match. 

Or you could wait until the last quarter to bet on a basketball game.

These types of markets are especially exciting when it comes to in-play betting. If you’re with a leading crypto betting site that offers live streamed events, you can wait until just before the next quarter or half starts before placing your bet.

Player Performance

Another easy market to understand. Player performance bets are also known as “prop betting.”

Select a sport and an individual player, and bet on things like player points, goals scored, or baskets landed, depending on the sport.

Team Performance

Another type of prop bet.

Team performance markets let you bet on things like a team’s total points at the end of a tournament, clean sheets at the end of a competition, or any other type of bet that isn’t specific to the score of a specific match. 

Final Score

This market is exactly what it sounds like.

Instead of betting on whether a team will win, lose or draw, you bet on the exact final score of a match or event.

For example, in soccer you could predict a result of 4:0, but because this sport has a limited amount of possible results, it will not offer the best odds or most exciting betting opportunities.

Despite this, a sport such as tennis has multiple outcomes, giving you a greater number of possibilities, and a wider range of odds to play with.

Live Betting

Live streaming and live betting has revolutionized the way we wager on sports. 

Instead of having to get your bets in before the start of a match or game, you can watch the action unfold and make wagers in real time.

For example, you may start watching a game of basketball certain that the New York Knicks are going to win.

But after watching a terrible performance from the Knicks in the first quarter, you might change your mind and place a bet the opposite way.

In-play betting offers us more markets than ever before. With a great crypto betting site, you can also watch all the best domestic and international sports through the site or app, and place real-time bets at any point during a game.

Ante-post Betting

Ante-post wagering refers to any market where the event isn’t due to begin for at least another day.

You’ll find that most Bitcoin sports betting sites offer odds on events that won’t begin for months.

Experts in this form of wagering aim to get “long odds” on an outcome, in the hope that the price will drop before the event.

Of course, it doesn’t always work out that way, but this is a tactical and exciting market to get involved in.

Should You Use Bitcoin on Betting Sites?

So far in our guide we’ve looked at many of the possible pros and cons of choosing a Bitcoin sports betting site.

But when I refer to “Bitcoin betting sites”, I usually mean sites that offer any type of cryptocurrency, not just BTC.

What about Bitcoin itself?

Is there any benefit to using what many people term as the original cryptocurrency?

With that in mind, let’s take a look at the upsides and downsides of using Bitcoin on betting sites.

Pros of Using Bitcoin at Betting Sites

• Bitcoin is the best-known cryptocurrency in the world, and therefore the most widely accepted coin at crypto betting sites

• An increasing number of betting companies offer additional rewards to users who deposit with BTC

• BTC’s ability to gain value means a big win today could be worth even more in the future

• Bitcoin offers full anonymity to bettors

• BTC is one of the easiest coins to purchase at exchanges such as Binance

Cons of Using Bitcoin at Betting Sites

• Possible heavy transaction fees associated with BTC

• Crypto can fall even faster than it rises, so the value of a big win could drop dramatically

• There are newer coins on the market that offer a more dynamic experience

Do Crypto Betting Sites Offer Apps?

Sports betting apps have come a long way in the last few years.

Instead of squinting to see a sportsbook that has been shrunk down in size to fit on a smaller screen, sports betting apps are now completely optimized to work perfectly on any mobile device, including your smartphone or tablet.

From native apps to mobile-friendly browser-based versions, bettors who like to wager on the go love these sleek and modern apps that offer just as good an experience as a desktop site.

Of course, being leaders in new technology, crypto betting sites offer some of the most sophisticated apps you’ll find anywhere.

Crypto betting apps are particularly popular with bettors who like to place live bets and watch all the most exciting sports events unfold anytime, anyplace, from the palm of their hand.

Let’s Sum Up: Why It’s Good to Bet on Crypto Sports Betting Sites

It’s clear to me that Bitcoin betting websites are the future of sports betting.

With the most competitive odds and markets across a wide range of domestic and international sports, these chic and modern sites offer customers the most convenient and efficient experience possible.

Crypto sports betting sites also offer quicker transaction times and little to no fees when compared to traditional brands. Not to mention, you get unparalleled customer service any time of day, whenever you need it.

All this suggests that we’re going to be seeing a lot more from these crypto sportsbook operators in the future, as more and more of us turn to crypto for our betting needs.

If I had to recommend one site in particular, it would be Betonline. 

In my opinion, this crypto betting site has everything you could ever wish for, and a touch more.

You can choose from all your favorite sports, or discover exotic new ones. You can also enjoy the most competitive odds across a wide range of markets, and deposit and withdraw using your favorite cryptocurrencies via their über modern desktop site; or their seamless mobile version.